SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Location : Mumbai

Dharavi redevelopment project seeks an additional 15 acres in BKC for machinery storage

01 Jul 2024

The Dharavi Redevelopment Project, managed by Dharavi Redevelopment Project Pvt. Ltd. (DRPPL), aims to transform a 600-acre slum in Mumbai into a modern urban area. To support this massive effort, DRPPL has requested 15 acres of land in Bandra Kurla Complex from the Mumbai Metropolitan Region Development Authority (MMRDA) for machinery storage. They have also secured 27.57 acres from the Railway Land Development Authority and are seeking 12 acres currently used by Brihanmumbai Electric Supply and Transport (BEST). The Maharashtra government proposes an additional 283.4 acres of salt pan land. The project, though logistically challenging, promises improved living conditions for 1.2 million residents.Read more

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Inside Mahalaxmi's Real Estate: From landmark sales to diverse housing options

01 Jul 2024

Mahalaxmi, a locality in South Mumbai, is celebrated for its rich history and upscale living environment. In May, Piramal Mahalaxmi - South Tower emerged as the top performer with 7 transactions, followed closely by Piramal Mahalaxmi North Tower with 5 deals. K Raheja Vivarea and Lokhandwala Minerva Mahalaxmi also contributed significantly with 2 transactions each. Developer sales dominated the market, reflecting a preference for new developments over resale properties. Apartment sizes varied widely, from the expansive 2,597 square feet in K Raheja Vivarea to the more compact 736 square feet in Piramal Mahalaxmi - South Tower, accommodating diverse buyer preferences. With prices per square foot ranging from INR 29,212 to INR 1,04,390, Mahalaxmi offers luxury homes suited for both families and individuals. The neighborhood's blend of tranquility, connectivity, and luxury amenities continues to attract affluent residents and businesses alike, reinforcing its status as a prime real estate destination in Mumbai.Read more

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Maharashtra implements New RERA rules regarding bank accounts for transparent real estate investments

01 Jul 2024

Starting July 1st, Maharashtra's real estate sector will see enhanced buyer protection and transparency as MahaRERA introduces new regulations. Developers are now required to maintain three distinct bank accounts for project funds, centralising buyer payments and ensuring accountability. The RERA Designated Collection Account receives all buyer funds, excluding taxes, while the RERA Designated Separate Account allocates 70% for construction expenses. The remaining 30% in the RERA Designated Transaction Account offers operational flexibility. These measures aim to curb fund misuse, accelerate refunds, and expedite project completions, bolstering trust between homebuyers and developers in Maharashtra's evolving real estate landscape.Read more

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NMMC demolishes unauthorised construction in Belapur's Sector 36

01 Jul 2024

The Navi Mumbai Municipal Corporation (NMMC) demolished an unauthorised structure in Belapur's Sector 36 on June 25, 2024. The demolition, led by Municipal Commissioner Dr. Kailas Shinde, targeted a house in Karave village after the owner failed to comply with a notice issued under the Maharashtra Regional and Town Planning Act. The NMMC's Encroachment Department, under Deputy Commissioner Rahul Gethe, oversaw the operation, which involved a team of six personnel and 12 labourers using hammers and gas cutters. The Navi Mumbai Police ensured the smooth execution of the demolition, sending a clear message against unauthorised constructions and the importance of following proper building regulations.Read more

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Navi Mumbai Municipal Corporation (NMMC) celebrates 10th International Yoga Day

28 Jun 2024

Navi Mumbai Municipal Corporation (NMMC) celebrated the 10th International Yoga Day on June 21, 2024, with a vibrant event themed Yoga for Self and Society. Held at the CIDCO Exhibition Center, the highlight was the "Yoga Mantra" program, drawing a large crowd including civic leaders like Dr. Kailas Shinde, Municipal Commissioner, and local MLAs. This event aimed to highlight yoga's dual benefits for physical well-being and civic responsibility, integrating messages from the "Swachh Bharat Mission." The NMMC's commitment to regular yoga sessions underscores their holistic approach to fostering community health and environmental stewardship in Navi Mumbai.Read more

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"NMMC commissioner Dr. Kailas Shinde conducts a surprise inspection visit to departments of NMMC headquarter "

28 Jun 2024

On June 24, 2024, Navi Mumbai Municipal Corporation (NMMC) Commissioner Dr. Kailas Shinde conducted a surprise inspection of all departments at the NMMC headquarters. Accompanied by Deputy Commissioner Shri. Sharad Pawar, Dr. Shinde emphasised punctuality, proper document storage, and cleanliness. He directed the activation of the CCTV control room and improvements in emergency management procedures. Dr. Shinde also advocated for the publicising of Swachh Survekshan and Majhi Vasundhara Abhiyaan messages. These measures aim to create a more efficient, people-oriented administration across all NMMC offices.Read more

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Lodha Acenza

27 Jun 2024

Mumbai City, India

Lodha Group

View Website | Visit RERA website

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Vikhroli West: Rising real estate hub in Mumbai's Eastern Suburbs

27 Jun 2024

Vikhroli West, located in the eastern suburbs of Mumbai, is rapidly developing into a prominent residential and commercial hub. Known for its high-rise apartments, gated communities, and corporate offices, the area boasts excellent connectivity through major roads and the suburban railway network. In May, significant real estate activity was observed, with Lodha Vikhroli ASPI Project 1 leading sales. The locality offers diverse housing options catering to a wide range of buyer preferences and price points. With its strategic location, ample amenities, and pockets of greenery, Vikhroli West is becoming an attractive destination for families and professionals seeking a modern lifestyle.Read more

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Urgent repairs needed for Andheri flyover, BMC and MMRDA in dispute

27 Jun 2024

Mumbai faces a potential safety hazard as the Andheri flyover on the Western Express Highway (WEH) urgently needs repairs. An audit by VJTI in April flagged critical conditions in the flyover's superstructure, including support pillars. Despite this, repairs have stalled due to a dispute between BMC and MMRTA over responsibilities post-handover of WEH in November 2022. BMC lacks crucial structural details to proceed with INR 95 crore repairs and requests access from MMRTA. With daily traffic exceeding lakhs, swift resolution is crucial. Public safety hinges on collaboration to clarify responsibilities, expedite repairs, and secure the flyover for commuters' safety.Read more

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MHADA offers a one-time payment of INR 2.75 lakh to BDD Chawl tenants for on-going redevelopment

27 Jun 2024

The Maharashtra Housing and Area Development Authority (MHADA) is offering INR 2.75 lakh (11 months' rent at INR 25,000 per month) in one installment to eligible BDD Chawl tenants not opting for transit camps. This decision supports tenants during the transition of the 207 historic BDD Chawls, housing 16,557 flats, built in 1920 and spread over 92 acres, into modern housing units. Responding to tenant requests, MHADA aims to streamline the process and address concerns until permanent relocation. A computerized lottery for new rehabilitation units is scheduled for late June, marking a significant step in the redevelopment project.Read more

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Navi Mumbai youth lead clean-up campaign, collect waste on Ghansoli Palm Beach

27 Jun 2024

Navi Mumbai's youth are making a difference through a special coastal clean-up campaign. 70 students from Tejaswa Career Academy enthusiastically participated, aligning with the municipal commissioner's call for increased public involvement in cleanliness efforts. The campaign was overseen by local officials, including Dr. Kailas Gaikwad and Shri. Sunil Pawar. Students joined residents, sanitation workers, and officers to collect significant waste from the Ghansoli Palm Beach area. This collaborative effort showcases the power of community engagement in maintaining a clean and healthy environment. Dr. Shinde's initiative is proving successful, with Navi Mumbai's youth leading the way towards a more sustainable city.Read more

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Revisiting Chhatrapati Shahu Maharaj's vision for education at Navi Mumbai Municipal Corporation (NMMC’s)

27 Jun 2024

The Navi Mumbai Municipal Corporation (NMMC) hosted a lecture on thoughts at the Bharatratna Dr. Babasaheb Ambedkar Memorial in Airoli, highlighting Chhatrapati Shahu Maharaj's progressive educational reforms. Mr. Abhijit Kamble, BBC Marathi Editor, emphasised Shahu Maharaj's implementation of free and compulsory education, promotion of women's education, support for marginalised communities, significant budget allocation, and establishment of hostels for underprivileged children. NMMC Commissioner Dr. Kailas Shinde lauded the series' success in attracting over 2.5 lakh visitors. The event underscored the enduring relevance of Shahu Maharaj's educational vision and the importance of education in fostering a harmonious society.Read more

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JVPD housing societies secure ownership of amenities in High Court decision

26 Jun 2024

The Bombay High Court has ruled in favor of 14 housing societies in the Juhu Vile Parle Development (JVPD) scheme, granting them ownership of common plots and amenities. This decision clarifies that these plots belong to the societies, not the Maharashtra Housing and Area Development Authority (MHADA). The dispute originated from the JVPD scheme's development in the 1950s and resurfaced between 2010 and 2017 when MHADA and the Brihanmumbai Municipal Corporation (BMC) claimed ownership. The court affirmed the societies' rights, a significant win that allows them full control over their areas, improving livability and setting a precedent for similar cases nationwide.Read more

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Navi Mumbai Municipal Corporation (NMMC) launches cleanliness campaign with public participation at the Sion-Panvel highway

26 Jun 2024

The Navi Mumbai Municipal Corporation (NMMC) launched a proactive deep cleaning campaign on June 22nd, 2024, along the Sion-Panvel Highway. Led by Municipal Commissioner Dr. Kailas Shinde, the initiative aimed to enhance cleanliness standards across the city. Residents from Belapur, Nerul, Turbhe, and Vashi joined NMMC officials, sanitation workers, and students from the National Service Scheme (NSS) in a concerted effort. The campaign, focusing on the Belapur to Vashi stretch, included a collective pledge and hands-on cleaning drive, emphasising public involvement in maintaining a cleaner environment. This collaborative effort sets a precedent for future initiatives to promote civic responsibility and environmental stewardship in Navi Mumbai.Read more

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Commissioner Dr. Kailas Shinde of Navi Mumbai Municipal Corporation (NMMC) pushes for immediate use of Navi Mumbai market buildings

26 Jun 2024

Navi Mumbai Municipal Corporation (NMMC) Commissioner Dr. Kailas Shinde is pushing for immediate use of market buildings constructed by the NMMC. He inspected several market sites, emphasising cleanliness, improved facilities, and better accessibility. At Diwalegaon, he called for permanent toilets and a cleanliness campaign. In Sanpada and Vashi, he suggested structural changes for better ventilation and convenience for vendors and customers. Dr. Shinde also reviewed the NMMT bus terminus construction, urging the installation of benches and completion of leased office spaces. His initiative aims to enhance market functionality and public hygiene in Navi Mumbai.Read more

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Godrej Five Gardens

25 Jun 2024

Mumbai City, India

Godrej Properties

View Website | Visit RERA website

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Mumbai's Metro 3 nears completion, providing relief for shopkeepers as barricades come down

25 Jun 2024

The removal of barricades erected for Mumbai's Metro 3 project has brought relief to local shopkeepers who suffered due to restricted customer access for years. Nearly 63% of the roads along the 33.5-km underground line have been restored. However, the Brihanmumbai Municipal Corporation (BMC) has faced criticism for the slow progress of its road concretisation work, completing only 15% of the planned 397 km cement concrete roads across five zones. The civic body has promised to expedite the work post-monsoon but has also cancelled a major contract due to delays. As the city navigates these infrastructural challenges, citizens hope for timely completion to alleviate commuting woes.Read more

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Project to connect Gokhale Bridge with Barfiwala Flyover nears completion

25 Jun 2024

Mumbai's Brihanmumbai Municipal Corporation (BMC) will complete the connection of the CD Barfiwala Flyover's north-side arm with the refurbished Gopal Krishna Gokhale Bridge by mid-July, costing INR 8 crore. Based on IIT Bombay and VJTI recommendations, the bridges are aligned by raising spans. VJTI's report suggested raising four spans, while IIT recommended only two. Initial work started only within 90 days, targeting completion by the early of July. The Barfiwala Flyover, built in 2008, was misaligned with the higher Gokhale Bridge, refurbished in the February of 2023. BMC commissioner Bhushan Gagrani also plans to connect the south-side arm at Vile Parle.Read more

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MMRDA begins redevelopment of Ghatkopar's Ramabai Ambedkar Nagar

25 Jun 2024

The Mumbai Metropolitan Region Development Authority (MMRDA) has announced the redevelopment of Ramabai Ambedkar Nagar in Ghatkopar, a major slum area. Tenders for an architect and project management consultant will be released this month. This 75-acre redevelopment under Regulation 33 (10) of the Development Control and Promotion Regulations, 2034, will facilitate extending the Eastern Freeway from Mankhurd to Thane. The Brihanmumbai Municipal Corporation (BMC) will handle beneficiary identification and relocation, while MMRDA oversees redevelopment. Approved by Chief Minister Eknath Shinde in December 2023, the project is expected to complete in three years once land transfer occurs.Read more

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CM Eknath Shinde provides INR 50 lakh aid to family of laborer trapped in Versova creek

25 Jun 2024

Chief Minister Eknath Shinde presented a cheque for INR 50 lakh to the family of Rakesh Yadav, a laborer trapped with a JCB near Versova Creek. The financial aid was provided at the CM's residence in Thane, attended by Yadav’s immediate family and senior officials from MMRDA and L&T. The cheque included INR 35 lakh from L&T and INR 15 lakh from insurance. Additionally, Rakesh’s brother, Durgesh, was offered a job at L&T. Despite 17 days of rescue efforts, Rakesh remains unlocated. The aid aims to support the family during this tragic time, highlighting the commitment to worker welfare.Read more

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