Property for rent in mumbai Mumbai

In a move that might delay the construction of the Mumbai Metro Line-5, which would connect areas in thane with the main city, over 100 villagers are protesting land acquisition for the construction a car shed under the project. Last year, the Mumbai Metropolitan Region Development Authority (MMRDA) had sent notices to the residents for acquisition of around 36 hectares land at Govegaon near the Kalyan-Bhiwandi road. The villagers say this land is their only source of livelihood and can't be sold.

The City and Industrial Development Corporation has announced the launch of two housing schemes, the Swapnapurthi Scheme and the Mass Housing Scheme, under which the state-run body would sell over 9,500 units spread across Navi Mumbai.

In a bid to keep a check on delays and ensure timely delivery of projects across the state, the Maharashtra government has written to the Centre to amend the Real Estate (Regulation & Development) Act, 2016. The state wants the Centre to bring the Slum Rehabilitation Authority and the Maharashtra Housing and Area Development Authority under the Act that protects both buyers’ and developers’ interest. According to the state’s housing minister, this move would help make these authorities more accountable towards their beneficiaries.

Data available with PropTiger.com show the developers in the Mumbai Metropolitan Region are currently waiting to sell an unsold stock of over 2.93 lakh units. Of these, nearly half or over 1.41 lakh units are priced within Rs 45 lakh.

The Rs 49,247-crore project announced by the Devendra Fadnavis government is being developed by the Maharashtra State Road Development Corporation. With eight lanes, the 701-km super expressway has been designed to have vehicles running at a speed of up to 150 kilometre per hour (km/h) on flat terrain and up to 100 km/h on the mountainous terrain. These speeds will help the commuters travel from Mumbai to Aurangabad in four hours and another four hours to reach Nagpur.