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 […]

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 […]

Maharashtra government to build 15,000 flats priced Rs 30 lakh in Goregaon, Real Estate News, ET RealEstate

MUMBAI: Imagine a flat in Goregaon for Rs 30 lakh when an affordable home in Mumbai is priced at a minimum Rs 1 crore. The first-ever affordable housing scheme in the city under the Pradhan Mantri Awaas Yojana (PMAY) is set to make this a reality. “The bhoomipujan for the scheme will be held in […]

Morgan Stanley leases 1.1 million sq ft office space in Mumbai’s Goregaon, Real Estate News, ET RealEstate

File photo MUMBAI: In the largest commercial space transaction this year, global investment bank Morgan Stanley has picked up around 1.1 million sq ft office space on a long-term lease at Oberoi Realty’s under-construction commercial tower Commerz III in Goregaon suburb of Mumbai. The lease tenure is set at 9.5 years and the project is […]

Netflix leases 8,860 sq ft office space from WeWork in Mumbai, Real Estate News, ET RealEstate

BENGALURU | MUMBAI: Online video streaming platform Netflix has signed a flexible workspace deal for an entire floor at WeWork’s Nesco coworking centre in Goregaon, Mumbai. The transaction for 8,860 square feet, for about 320 seats, was signed on June 30, people aware of the deal said. It will be used to execute visual effects […]

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