Connect with us

Latest News

According To A Report, Navi Mumbai Had A Maximum Rental Hike Between April And June

Published

on

According to sources, the satellite city of Navi Mumbai saw the biggest increase in average rent, rising 6.2% quarter-over-quarter (QoQ). Hyderabad and Ahmedabad saw the biggest increases, at 4.2% and 4%, respectively. According to the survey, rental rates in 13 major Indian cities increased by 2.6% and 14.6% YoY, respectively, to an average of Rs 33.3 per sq ft per month.

From Rs 28.99 per square foot per month in Q1 2024 (Jan-Mar 2024) to Rs 30.78 per sq foot per month in Q2 2024 (Apr-Jun 2024), that was the average rent in Navi Mumbai. The rental demand during this time increased significantly by 14.8% QoQ, according to the data, after increasing by 16% QoQ in the preceding quarter. However, strong absorption rates caused the supply to decline 2.2% QoQ throughout the mapped cities, which raised rents.

The cities of Thane (Rs 29.84 per sq ft per month), Delhi (Rs 33.72 per sq ft per month), and Mumbai (Rs 82.28 per sq ft per month) have the highest rentals. According to the survey, the average monthly rent in Greater Noida is Rs 14.52 per square foot, while in Noida it is Rs 20.10, and in Bengaluru it is Rs 28.

A Researcher explained the dynamics, saying, “We anticipate continued growth in both rental demand and rents in the short to medium term with economic activity peaking.” Furthermore, as the stock of properties under development approaches completion, the supply of rental apartments is anticipated to improve. In general, the current environment encourages more involvement in the rental market and offers landlords and investors a potential opportunity.

Residential real estate is still a profitable investment industry due to its high rents and strong demand for rentals. The survey noted that investments in Ahmedabad, Pune, and Kolkata showed the greatest rental yields (3.8%) despite the fact that the average rental yield across the top 13 cities is 3.6%.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Illegal Dumper Parking on Palm Beach Road Sparks Safety Fears

Published

on

Heavy trucks occupying parallel lanes near Akshar Chowk and Seawoods endanger pedestrians and morning walkers.

Safety Concerns

Widespread illegal parking of heavy dumper trucks along the parallel service lanes of Palm Beach Road has raised serious safety concerns among residents, senior citizens, and daily commuters in the Vashi–Seawoods corridor.

Often dubbed Navi Mumbai’s “Queen’s Necklace,” Palm Beach Road attracts hundreds of local residents every morning and evening for walks. However, from the Vashi Railway Flyover down to Akshar Chowk and the Kopri Flyover near Seawoods, large construction dumpers have converted pedestrian pathways and service lanes into makeshift parking lots.

Locals allege that trucks tied to nearby real estate developments are blocking walkways and creating dangerous visual blind spots, forcing pedestrians onto high-speed main carriageways. Citizen groups have questioned the lack of enforcement, asking whether municipal “No Parking” signs are merely cosmetic. Local representatives have demanded immediate joint action by civic authorities and the traffic police before a fatal collision occurs.

Responding to growing public anger, Prashant Nerker, Assistant Commissioner of NMMC’s Belapur Ward, assured residents that civic officials will inspect the Akshar Chowk stretch alongside traffic engineers and initiate prompt legal action against illegally parked heavy vehicles.

Continue Reading

Latest News

Billboard Boom at Vashi Station Sparks Safety Concerns

Published

on

Rising proliferation of massive advertising hoardings triggers fears of collapses and traffic mishaps among commuters.

The Safety Concerns

A sudden surge in massive commercial billboards and digital hoardings in and around the Vashi Railway Station complex has raised serious safety alarms among local commuters, pedestrian activists, and motorists.

As one of Navi Mumbai’s busiest transit hubs, Vashi station sees hundreds of thousands of daily footfalls. However, the rapid cluttering of overhead advertising structures along station exit routes, foot overbridges, and adjoining arterial roads has sparked severe safety concerns. Residents fear that heavy monsoon winds could compromise the structural integrity of these large metal frames, posing a life-threatening collapse hazard similar to recent industrial hoarding disasters across the Mumbai Metropolitan Region.

Beyond structural dangers, high-luminance digital displays positioned near major vehicular intersections are creating visual distractions for drivers navigating congested station approach roads. Furthermore, haphazardly placed hoardings frequently obstruct essential pedestrian walkways and public direction signs, exacerbating daily commuter chaos.

Local citizen groups and activists are urging both the Navi Mumbai Municipal Corporation (NMMC) and the City and Industrial Development Corporation (CIDCO) to step in immediately. Demands include conducting mandatory structural audits of all existing frames, strictly enforcing permissible size guidelines, and swiftly dismantling unauthorized billboards to safeguard public lives before a major accident occurs.

Continue Reading

Latest News

MLA Manda Mhatre Demands Citywide Overhaul of Navi Mumbai Crematoriums

Published

on

Senior leader urges NMMC to upgrade infrastructure, cleanliness, and modern facilities to ensure dignity for grieving families.

The Demand

Senior leader and MLA Manda Mhatre has called on the Navi Mumbai Municipal Corporation (NMMC) to launch a comprehensive, citywide upgrade of crematoriums across all municipal nodes.

Highlighting the deteriorating condition of several funeral grounds, Manda Mhatre emphasized that grieving families deserve clean, modern, and well-maintained environments during their most challenging moments. She urged civic authorities to conduct immediate site inspections across existing facilities to assess structural defects, maintenance gaps, and sanitation concerns.

The proposed initiative demands significant infrastructure improvements, including upgraded cremation systems, well-equipped waiting areas for visitors, improved lighting, and proper sanitation amenities. According to Manda Mhatre, modernizing these grounds is essential to maintaining dignity and offering basic convenience to citizens bidding farewell to their loved ones.

In response to the appeal, the NMMC is expected to evaluate current crematorium conditions throughout Navi Mumbai and outline a structured roadmap for structural improvements. Local residents have welcomed the demand, calling for swift civic action across all nodes.

Continue Reading

Trending