23 Oct 2024

Bollywood actor Sara Ali Khan recently purchased two office spaces in Oshiwara, Mumbai, for over INR 22.26 crores, alongside her mother Amrita Singh. This investment follows her previous acquisition of an office in the same tower last year. Several other Bollywood celebrities, including Amitabh Bachchan and Shahrukh Khan, have also invested in properties there. The trend highlights the real estate market's appeal among high-net-worth individuals in the film industry.Read more

23 Oct 2024

Paradigm Realty is offering exclusive festive promotions across three of its premier residential projects-Paradigm 71 Midtown in Chembur, Paradigm Anantaara in Borivali (West), and Paradigm Artteza in Santacruz (West). These offers provide significant savings and privileges for homebuyers and investors. At Artteza, luxurious 2 BHK apartments start from INR 3.51 crore, featuring air-conditioned homes and modern modular kitchens. Paradigm Anantaara offers 2 & 3 BHK residences from INR 2.14 crore, with easy payment plans, while 71 Midtown in Chembur has 1 & 2 BHK homes starting at INR 1.09 crore. Offers include low upfront payments, EMI options, and zero SDR, valid until November 30, 2024.Read more

22 Oct 2024

The launch of the first phase of Mumbai Metro Line-3 marks a transformative milestone for the city's transport network, offering substantial connectivity improvements. Inaugurated by Prime Minister Narendra Modi, the INR 14,120 crore Aqua Line is Mumbai's first underground metro, linking Bandra Kurla Complex (BKC) to Aarey and covering key transit points like T2 and Santacruz. Real estate leaders highlight that Metro Line-3 will significantly boost accessibility, particularly benefitting South Mumbai and suburban areas, where infrastructure developments are poised to drive property demand and values. The metro's integration with other lines, such as Line 1 at Marol Naka, promises a more connected and accessible city. Complemented by projects like the Coastal Road and Santacruz-Chembur Link Road, Mumbai is set to emerge as a global urban hub by 2025, ready to meet the demands of its growing population and dynamic economy.Read more

22 Oct 2024

Temasek Holdings has facilitated Manipal Health Enterprises in acquiring a five-storey hospital in Mumbai's Andheri for INR 115 crore. The property spans 2.6 acres and features approximately 225,000 square feet of built-up area. This acquisition is part of a broader strategy to enhance Manipal's market presence, following its stake increases in Medica Synergie and AMRI Hospitals.Read more

22 Oct 2024

During the nine-day Navratri festival, Mumbai's property market experienced a significant uptick, with 5,199 registrations, reflecting a 13.2% year-on-year increase. This surge generated Rs 502 crore in revenue, a notable rise from last year. Industry leaders attribute this growth to buyer confidence, strategic investments, and favourable economic conditions, suggesting continued positive momentum in the real estate sector.Read more

21 Oct 2024

The Bombay High Court has invalidated the Bank of India's designation of Pune Buildtech Pvt Ltd as 'fraud' and its related blacklisting, which restricted the firm's credit access. Additionally, the court ordered the bank to remove Pune Buildtech from its 'wilful defaulter' list and retract any reports sent to Credit Information Companies. This decision followed the firm's full settlement of INR 703.35 crore with the bank in June 2024, after which the bank issued a 'No Dues Certificate.' Despite this, the bank maintained the 'fraud' label, prompting the court to emphasize the importance of honoring consent terms, particularly after a one-time settlement (OTS) was reached. This ruling clears Pune Buildtech's path to restore its reputation and reaccess credit, highlighting the critical role of transparency and adherence to agreements in banking.Read more

21 Oct 2024

Over 40 citizens have voiced concerns to the Maharashtra Directorate of Archaeology and Brihanmumbai Municipal Corporation (BMC) over the restoration of Bandra Fort, claiming that the work undermines the 17th-century fort's historical integrity. Originally constructed by the Portuguese at Land's End, Bandra, the Grade-I heritage site was recently covered in cream-coloured plaster, which many residents see as damaging. The letter, authored by activist Zoru Bhathena, criticizes changes, including the removal of the heritage arch and application of lime plaster, which allegedly contravene heritage laws. The state Archaeology Department is investigating, potentially setting a precedent for future heritage restorations.Read more

18 Oct 2024

Maha Mumbai Metro Operations Corporation Ltd. has unveiled a groundbreaking WhatsApp-based ticketing service, aimed at enhancing commuter convenience and efficiency. Inaugurated by women commuters during the Navratri celebrations, this service is available on Metro Lines 2A and 7. It enables passengers to purchase tickets effortlessly through WhatsApp, fostering digital adoption and promoting eco-friendly practices. Commuters can generate multiple tickets in one transaction, making group travel even more convenient.Read more

18 Oct 2024

The Urban Development Department announced that Regulation 13(10) will not be included in the Development Control and Promotion Regulations (DCPR) 2034, affecting the redevelopment of Mumbai's Mahalaxmi Race Course. The Brihanmumbai Municipal Corporation (BMC) had proposed a 1.33 Floor Space Index (FSI) for the club, gymkhana, and stables on the 58.3-acre site, envisioning facilities like sports amenities, a clubhouse, and a veterinary hospital. However, the state government approved only an FSI of 0.3 for the 32-acre club area and maintained the existing built-up area for the 26.3-acre stables. The decision aligns with environmental priorities and heritage conservation, emphasizing sustainable development and the enhancement of public spaces within the Mahalaxmi Race Course area.Read more

18 Oct 2024

Transcon has commenced the phased handover of 148 SRA units to residents of Sai Durga SRA Co- operative Housing Society in Santacruz, Mumbai. The event, attended by urban development advocate Shri Ashish Shelar, highlighted the company’s commitment to safe and adequate housing. Director Shraddha Kedia-Agarwal emphasized the focus on sustainability and community needs. The newly built homes prioritize comfort and essential amenities, reinforcing Transcon's dedication to positively impacting urban living and fostering growth in the community.Read more

17 Oct 2024

In Mulund East, Mumbai, the 60-acre vacant land from a former octroi naka and garbage dump has inspired local residents of Hari Om Nagar to advocate for new infrastructure projects. The community, led by the Hari Om Nagar Apex Body Federation (HONAFE), is pushing for an AIIMS hospital, a bus terminus, and a cultural and sports center. With over 2,000 signatures gathered, they aim to enhance local services, improve healthcare access, and ease transportation challenges. Despite existing government allocations, the community plans to present their proposals to authorities, hoping to bring meaningful development for 80,000 to 100,000 residents.Read more

17 Oct 2024

Residential transactions in Mumbai Metropolitan Region (MMR) saw a 7% year-on-year increase in the September quarter of 2024, with 52,745 transactions registered. The total value of sales grew by 10%, reaching INR 48,409 crore. Godrej Properties led the developers in home sales value, with Godrej Reserve in Kandivali topping the list of projects. Meanwhile, Conceptual Advisory Services led in unit sales with their Suraksha Smart City project in Vasai. Peripheral areas, like Kalyan-Dombivli, dominated low-to-mid range transactions, while premium properties saw rising demand in suburbs closer to Mumbai. This growth is expected to continue during the festive season.Read more

17 Oct 2024

Ahead of the Maharashtra Assembly elections, Chief Minister Eknath Shinde has announced that light motor vehicles will be exempt from toll fees at five Mumbai toll booths starting midnight, October 15. This decision aims to benefit over 600,000 daily commuters, particularly light vehicles. The toll exemption is expected to enhance the real estate market in suburbs like Thane, Airoli, and Vashi, making them more attractive to homebuyers.Read more

16 Oct 2024

Sheth Realty's maiden redevelopment project, Codename Younique, located in Sion, has achieved a sales of over INR 200 crore within 45 days of its launch. The project, an investment of INR 150 crore with a total estimated cost of INR 800 crore, marks the developer's entry into the redevelopment sector. Spread over two acres, it offers 350 premium 2 and 3 BHK units, complemented by retail outlets and a serene Ganesh temple. Developed in partnership with the Aakshya Group, its success is attributed to strategic pricing and flexible payment plans, appealing to first-time buyers, professionals, and families upgrading their lifestyles.Read more