The Maharashtra Housing and Area Development Authority (Mhada) is set to redevelop around 13,000 cessed buildings in South Mumbai, transforming the landscape and improving living conditions for thousands of residents.
MhadaCessed BuildingsSouth MumbaiRedevelopmentReal EstateReal Estate MumbaiFeb 14, 2025
MHADA, or the Maharashtra Housing and Area Development Authority, is a government agency established in 1971 to develop housing and infrastructure in the state of Maharashtra. It plays a crucial role in providing affordable housing and improving living conditions for underprivileged sections of society.
Cessed buildings are structures, often built before 1960, that have reached the end of their useful life and are in a dilapidated state. These buildings are in dire need of redevelopment to ensure safety and modern living conditions.
The redevelopment project will provide residents with modern amenities, better living conditions, and a safer environment. New buildings will be designed with energy-efficient features, green spaces, and modern infrastructure.
Real estate developers are showing keen interest in participating in this redevelopment initiative, recognizing the potential for high returns on investment in one of India's most dynamic and economically vibrant cities.
The new buildings will be designed with energy-efficient features and green spaces, contributing to the overall environmental well-being of the city. The project also aligns with the government's vision of transforming Mumbai into a smart city.
Rustomjee Group launches Rustomjee 180 Bayview, a premium residential project offering luxurious living experiences in Matunga West, Mumbai.
The Indian real estate market witnessed a significant surge in deals worth $1.56 billion during the April-June period, marking an eight-fold rise from the preceding quarter.
The Economic Survey highlights India's real estate sector's recovery, driven by urbanization and government schemes, but notes that legacy stalled projects pose a challenge.
The recent Union Budget 2024 has brought significant changes to the realty sector, including the withdrawal of indexation benefits and a cut in long-term capital gains tax. What does this mean for investors and the sector as a whole?
Apco Infratech Pvt Ltd purchases a triplex apartment at 'The Legend by Ashar' project in Pali Hill, Bandra for a record-breaking ₹172 Crore, setting a new benchmark in Mumbai's real estate market.
Hyderabad's real estate market continued its upward trajectory, achieving 80% of Bengaluru's volume and solidifying its position as a key real estate hub. The Indian residential sector saw a boost in transactions and property values in 2024.