Mumbai Property Snippets

Development of Bombay Dyeing Mills: One of the largest real development projects in recent times in Mumbai is that Larsen & Tourbo is set to develop around nine million square feet at Bombay Dyeing & Manufacturing Textile Mills, as well as the Spring Mills complexes at Worli and Wadala. All this at a whopping Rs 2, 000 crore. Its going to be a commercial project that would include IT, hospitality space and retail. No residential projects are included.

Real Estate Devlopment in Bandra: Mumbai is facing severe land shortage, forcing prices of investment property ever higher. In its need for additional expansion, nearly 60 acres of real estate is available for development in the western suburb of Bandra. The Maharashtra government's, employees have suggested the government redevelop the staff quarters. This project will also give the government additional revenue. If this project is approved, Bandra East will see a considerable amount of space for real estate development especially in this city which has attracted a number of corporate houses in the past few years.

Mumbai Records Biggest Increase in Industrial Rents, Across the World: In addition to soaring costs, Mumbai has now recorded the biggest increase in industrial property rents, world over. Since 2007, Mumbai has overtaken even Singapore and San Francisco. According to Cushman & Wakefield, a US based real estate consultancy, industrial rents have doubled since last year.

DMRC Sets Up Office In Mumbai: After Kolkata and Delhi, its now Mumbai's turn for the Metro. And who better to oversee the progress of the work than the DMRC. The DMRC or the Delhi Metro Rail Corporation is to set up an office in Mumbai, as it is doing in house consultancy for the metro rail project in the city. Nearly 10 officials of DMRC will move to Mumbai from Delhi to take oversee and take charge of the work. Nearly 2000 square feet of office space is provided for the DMRC, at the Bandra Kurla Complex.