No takers for their flats, owners slash rents for first time, Real Estate News, ET RealEstate

MUMBAI: A G Mehta never had a problem finding tenants for her flat near Andheri station. Regardless of the rent she demanded—the last time it went for Rs 32,000—the 450-sqft flat used to be snapped up quickly. The lockdown changed the whole dynamic. Struck by job losses and massive salary cuts, many tenants left the […]

BMC resumes demolition of dangerous buildings in Mumbai, Real Estate News, ET RealEstate

MUMBAI: After several cases of building collapses this monsoon, the BMC has resumed its drive to vacate and demolish dilapidated buildings. The civic body had halted its crackdown on such buildings in April owing to the pandemic and lockdown. Civic officials said 443 buildings listed as dilapidated have been marked for demolition by the end […]

Prabhu Niwas’ residents in lurch as BMC issues demolition notice, Real Estate News, ET RealEstate

MUMBAI: Eighteen families residing in the four-storey, Prabhu Niwas building in Vile Parle (east) have been hunting for rental accommodations after civic officials issued a demolition notice two weeks ago. The 60-year old, dilapidated building can’t be redeveloped. The reason? It is located in the vicinity of the Mumbai airport, but, more importantly, it stands […]

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