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The financial capital of India, Mumbai is an investment hotspot that boasts end-user interest throughout the year. Coupled by the employment opportunities, Mumbai also presents investment options in all price ranges although prospective buyers must be ready to look in the peripheries if they are in search of budget homes. Property prices in Mumbai vary with differences in the kind of infrastructure, connectivity, demand and supply in a given location. The annual price growth in Mumbai is estimated to be increased by 565 count and the annual rental yield is also up by 3.853055 percent.

‘Registration under RERA must’ ​

The Registration Department here is asking details of (Real Estate Regulatory Authority) RERA registration to record documents of apartments, villas, and layouts.
“We got the government communication on Monday and it has come into effect immediately. However, we do not ask for RERA registration for second sales as RERA is only for the promoters,” an official said.
The Registration Department asks for approval from the Directorate of Town and Country Planning or the authority concerned and now it has included RERA registration, the official said.
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The Mumbai-based group will be the development manager for the project, and will be responsible for leasing, project development, and asset management.
“Our marquee acquisitions and key partnerships for PILP have helped us establish a solid track record in the logistics sector. Through this formidable collaboration, we will leverage our development expertise along with MSREI’s industrial know-how as we expand and enhance the best-in-class industrial park. These are exciting yet crucial times for us as we expect more such strategic partnerships in the near future,” said Shaishav Dharia, chief executive, townships and rental assets, Lodha Group.
PILP is part of the 4,500-acre Palava city, its largest mixed-use development project.
Vineet Sekhsaria, executive director and head, MSREI, India, said: “We believe Palava will soon become the most strategic location for logistics and industrial development in western India. Given excellent infrastructure with multiple connectivity routes to the city and upcoming trans harbour sea-link, Palava will have benefits, unlike other locations.”
Earlier, the Lodha Group had signed a deal with Flyjac Logistics, a subsidiary of Hitachi Transport System Group, to sell 22.3 acres at the Palava industrial park.


MUMBAI — In a country notorious for billionaire business family feuds, a 124-year-old Indian family conglomerate is aiming to break the mold without a whiff of conflict, as it puts finishing touches to a succession plan that would equitably divide family assets among members and hand the businesses to a new generation of leaders.
India’s Godrej Group, which controls an empire encompassing door locks to cleaning products with annual revenues of 379 billion rupees ($5 billion), is currently working with lawyers and bankers to untangle the complex cross-holdings among the group’s listed companies and reduce the tax burden on the transfer of huge swathes of land in Mumbai — an effort led by group patriarch Adi Godrej, 79, and cousin Jamshyd Godrej, 72.
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