15 Jan 2024

A structural audit by Veermata Jijabai Technological Institute (VJTI) revealed the need for urgent repair for 44 structures, including flyovers and subways, along Mumbai's Western Express Highway (WEH). The Brihanmumbai Municipal Corporation (BMC) will now address maintenance previously overseen by the MMRDA. The repairs will need a significant investment of Rs 200 crore. Key projects include the Andheri flyover and Parsi Panchayet underpass. The BMC's commitment to enhancing urban infrastructure safety marks a significant step in ensuring reliable and safe commutes for Mumbai's residents.Read more

12 Jan 2024

The Maharashtra Coastal Zone Management Authority (MCZMA) has approved Salma Khan's proposal for a hotel construction in Bandra West, Mumbai, clearing a plan to demolish a deserted eight-storey building on a 990 sq-m plot owned by the Khans. The hotel, with a clear sea view, will consist of 19 floors, including a cafe, restaurant, gym, swimming pool, office, convention center and guest rooms. The proposed FSI area is 5933.77 sq meters, totaling 10,208.00 square meters of construction. Despite opposition due to the plot's location in CRZ-IA and CRZ II areas, the MCZMA cited 2019 CRZ regulations, municipal approvals, and NOCs for height restrictions as grounds for clearance. Presently, no construction has commenced on the plot.Read more

12 Jan 2024

The Maharashtra Housing and Area Development Authority (MHADA) has received approval from the state housing department to take over the stalled redevelopment project of R. K. Building 1 and 2 at Ranade Road, Dadar West. The redevelopment of the Swami Samarth Krupa Building project spread across 946 square metres, was halted on the 9th floor in 2014, leaving tenants without rent for a decade. Following government authorization in August 2023, MHADA can intervene in projects inactive for over two years. Based on this, the Mumbai Building Repair and Reconstruction Board proposed MHADA's takeover, which includes scrutiny for third-party rights and loans, blacklisting the owner and developer, and filing a complaint with the BMC.Read more

12 Jan 2024

The Bombay High Court has emphasised that an Occupancy Certificate (OC) cannot be granted to individual flats but is intended for the entire building. The court has temporarily halted an OC issued by the Brihanmumbai Municipal Corporation (BMC) for two flats in Quettawalla Residency, Agripada. The decision underscores the legal distinction between certifications for individual units and those applicable to the overall building structure. The ruling aims to maintain regulatory compliance and uphold the intended purpose of OCs, ensuring that certifications accurately reflect the safety and adherence to building regulations for the entire premises.Read more

11 Jan 2024

Blackstone-backed Nexus Select Trust, the only mall focused REIT in India, is planning to add the R City Mall owned by Runwal Developers in Mumbai to its REIT portfolio. Runwal recently made a Rs 1000 crore buyout of Singapore's GIC stake and acquired full ownership of the mall. Nexus Seawoods in Navi Mumbai stands as Nexus Trust's only Mumbai asset and is thus seeking investment in premium malls like R City and enhancing their amenities, aligning with its strategy of strengthening Grade-A mall acquisitions across MMR. Anarock Retail's 2023 report ranks MMR Grade-A mall rentals, averaging Rs 358 – 396 per sq ft, as the highest among major cities.Read more

11 Jan 2024

Mumbai Trans Harbour Link (MTHL), a 21.8 km bridge connecting Sewri in Mumbai to Navi Mumbai's Chirle is set to open soon. It is hailed as a game-changer because the travelling time is set to cut down from 2 hours to just 20 minutes. With smarter technology like Orthotropic Steel Decks being used, MTHL will be accommodating 70,000 cars/day at 100 km/h. Beyond speed, it's also a real estate game-changer as Navi Mumbai property values are projected to rise by 35-45%. At Rs 250 for a one-way trip, it's a steal for Mumbai-Navi Mumbai travellers. MTHL isn't just a bridge—it's Mumbai's next real estate bestseller, redefining living and investment opportunities.Read more

11 Jan 2024

A committee advised repairing Mumbai's aging Malabar Hill Reservoir, crucial for the city's water supply, in an interim report presented to BMC Commissioner Iqbal Singh Chahal. The recommendations suggest targeted fixes rather than costly reconstruction, pending the final report. Chahal emphasised making wise decisions that strike a balance between finances and infrastructure needs. The final report will outline repair specifics, guiding budget allocations and setting precedents for future projects. Locals welcomed the repair approach, foreseeing minimized disruptions. This strategy ensures structural integrity, demonstrating Mumbai's commitment to sustainable urban development.Read more

10 Jan 2024

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has granted a one-year extension to the under-construction Palais Royale tower in Worli, Mumbai. The developer, Honest Shelters Pvt Ltd, sought the extension due to pending litigation. Despite observations by MahaRERA chairperson Ajoy Mehta about the lack of a two-thirds majority consent from homebuyers and outdated Quarterly Progress Reports, the extension was approved to ensure project completion under RERA provisions. The order mandated obtaining an Occupancy Certificate by December 30, 2024, and updating all reports. Palais Royale, initially promoted by Shreeram Urban Infrastructure Ltd, faced delays and legal challenges before its clearance in 2019.Read more

10 Jan 2024

Tridhaatu Realty recently received the Occupancy Certificate for the first phase of Tridhaatu Morya, a high-end residential project in Chembur, Mumbai. The development of this project will unfold in two phases; phase 1 will feature 1 & 2 BHK units and phase 2 will have larger 2 & 3 BHK configurations, including provisions for Jodi flats. Amenities include a grand entrance lobby, clubhouse, landscaped gardens, and eco-friendly features like solar panels. Situated strategically in Chembur, the project ensures seamless connectivity and access to essential services, solidifying its appeal.Read more

10 Jan 2024

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has dismissed a complaint against Macrotech Developers (Lodha) for allegedly initiating construction on open space without obtaining the required consent from two-thirds of homebuyers. MahaRERA clarified its jurisdiction, stating that it does not oversee construction beyond the boundaries of a registered project. MahaRERA emphasized that its mandate is limited to monitoring construction within registered project boundaries and highlighted the complainant's failure to provide evidence of a violation of RERA provisions.Read more

10 Jan 2024

Residents of Bharat Nagar and Maharashtra Nagar in Bandra East have filed complaints alleging forgery and fraud in a redevelopment deal involving HDIL. They claim HDIL forged documents in 2006 to take over the slum's redevelopment rights, including creating fake sale deeds and affidavits. The complainants allege they were given temporary housing by HDIL from 2006 to 2011 but were denied rent from 2012. During a 2018 hearing, it was discovered that their documents were falsified, transferring ownership to others. FIRs were filed against HDIL's promoter and others citing criminal charges. The police are investigating to uncover the truth behind these serious allegations in the slum redevelopment scheme.Read more

10 Jan 2024

Mumbai witnessed a historic surge in real estate, marking the highest property registrations in 11 years. With 127,139 registrations in 2023, Mumbai surpassed the previous year by 4%, generating Rs 10,889 crore in stamp duty. December alone saw 12,487 units registered, a 33% increase from past year. Industry experts credit this growth to positive market sentiments, rising aspirations, and increased incomes. The western suburbs, propelled by improved connectivity and convenience, emerge as a real estate hotspot. Infrastructure upgrades and tailored offerings are contributing to Mumbai's suburbs becoming an attractive choice for diverse homebuyers, shaping a resilient and evolving real estate landscape.Read more

09 Jan 2024

The Bombay High Court has directed the Maharashtra Housing and Area Development Authority (MHADA) to proceed with the self-development proposal for 500 dilapidated buildings in Kannamwar Nagar without requiring a No Objection Certificate (NOC) from the original developer. The court's decision provides relief to residents who have waited for 18 years for the redevelopment of their buildings. The Kannamwar Nagar Nagarpalika Bhadekaru Co-operative Housing Society must submit an affidavit-cum-indemnity to MHADA and ratify its April 8, 2021, resolution for self-redevelopment to fulfill the court's conditions.Read more

09 Jan 2024

Mumbai's office space demand surged to a six-year high in 2023, hitting 8.5 million square feet. Tech giants led the way by embracing smaller offices, surpassing expectations. Nationally, key Indian cities absorbed 61.6 million square feet, marking a 7% rise. Sustainability was key, with half of new constructions going green. Industries like BFSI, IT, and manufacturing drove demand, mainly in Bengaluru, Hyderabad, and Chennai. Smaller deals dominated, making up 84% of transactions, and domestic firms led the way in shaping the evolving office scene in India.Read more

08 Jan 2024

An agreement between the government and the Royal Western India Turf Club (RWITC) for a proposed theme park on the Mahalaxmi racecourse awaits approval from 75% of the club's 2,000+ members. An extraordinary general meeting in January will be decided, with CM Eknath Shinde and BMC chief I S Chahal explaining the plan. The racecourse spans 226 acres, with 70% under the state and 30% under BMC. The government assures racing activities' would be uninterrupted during the proposed development. Ongoing debates include the racecourse's transformation into a theme park, has drawn criticism from the opposition and walkers who deem it detrimental to the city's open space.Read more

08 Jan 2024

In a recent case, the Santacruz police in Mumbai filed a fresh case of cheating against Ahuja Developers, their directors, and Chinese partners. Accused individuals, including Jagdish Ahuja, Gautam Ahuja, Chandras Kotian, Ashok Gacheria, and Chinese company officials from Jia Vei, Liyank Shaung, Ya Wang, Snehanjali SB Developers, and Hive Carbon Zero Developers Private Limited, are alleged to have cheated a flat buyer of Rs 1.33 crore. The complainant, Prashant Bhat, claimed discrepancies in the allotment process. This follows a previous arrest of Jagdish Ahuja in January for a Rs 27-crore cheating case, adding to the legal troubles faced by Ahuja Developers and their associates. The police are actively investigating to ensure justice for the affected parties.Read more

08 Jan 2024

The Mumbai Metro Rail Corporation Limited (MMRCL) has taken a proactive step to protect water pipelines by designating a 50-meter radius around the Metro 3 project as an 'influence zone.' This measure aims to prevent potential damage to pipelines caused by unauthorized development and digging activities. Property owners, societies, and entities within this zone must obtain prior approval from MMRCL before initiating certain activities. This move follows incidents of unauthorized digging causing water pipeline leaks. MMRCL's proactive approach underscores a commitment to infrastructure protection and sustainable urban development in Mumbai.Read more

08 Jan 2024

The Bombay High Court has criticized the Maharashtra Housing and Development Authority (MHADA) for hastily declaring several properties in Tardeo as dangerous without proper due process. The court's bench expressed disapproval of MHADA's reliance on visual inspections and emphasized that structurally sound buildings should not be prematurely deemed unsafe. The property owners filed petitions challenging MHADA's classification and proposed redevelopment under Section 79A of the MHADA Act. The court directed MHADA to inform all concerned parties about the structural conditions, allowing owners an opportunity to present their case. This highlights the importance of proper legal procedures in such matters.Read more