22 Nov 2023

The Bombay High Court has ruled against the Thane Municipal Corporation's (TMC) refusal to grant Sheth Developers additional space, calling it "manifestly arbitrary." The court found the TMC's decision violated legal principles, including legitimate expectations and the doctrine of promissory estoppel. The dispute centred on the TMC's suspension of its Buy-Back Policy (BBP), which Sheth Developers contested, citing principles of legitimate expectations and promissory estoppel. The ruling underscores the court's commitment to preventing arbitrary actions by authorities and upholding fairness in administrative decisions, promoting transparency and adherence to commitments made by governmental bodies.Read more

22 Nov 2023

Former mill workers queued at Mumbai's Samaj Mandir Hall to prove work history for Maharashtra Housing and Area Development Authority (MHADA) subsidized housing eligibility. The three-month verification process, ongoing since September 15, sparked concerns due to uncertainty about the lottery. Although an online option exists, many found it ineffective. MHADA recently allotted keys to 100 eligible mill workers from the 2020 lottery, emphasizing ongoing efforts to determine eligibility for the total 1,50,484 applicants. These developments highlight the challenges and aspirations tied to subsidized housing initiatives in Mumbai, emphasizing the need for efficient and timely eligibility processes.Read more

22 Nov 2023

Mumbai Metro Rail Corporation (MMRC) has finalized the Detailed Project Report (DPR) for extending underground Metro Line 3 up to Navy Nagar, covering a five-kilometre stretch. The DPR awaits state government approval following the 2022-23 budget announcement. The expansion aims to benefit densely populated areas, including central government residential quarters. Construction is slated for a 2025 start, post the existing Metro Line 3's commercial operations. MMRC acquired nine train sets for Phase 1, delayed to early next year, while Phase 2 operations begin in 2024. Recent trials and ongoing track installations mark progress for the extensive metro network.Read more

21 Nov 2023

Bollywood star Priyanka Chopra Jonas recently completed the sale of two penthouses spanning 2,292 square feet in Mumbai's Oshiwara area. The properties, located on the 9th floor of Karan Apartment Tower in Lokhandwala, Andheri, were sold for a total of Rs 6 crore. The smaller penthouse, covering 860 sq ft, was sold for Rs 2.25 crore, while the larger one, measuring 1,432 sq ft, fetched Rs 3.75 crore. Bollywood director, producer, and screenwriter Abhishek Choubey acquired these properties. The transactions were facilitated by Priyanka's mother, Madhu Chopra, and were registered on October 23 and 25. Priyanka and several other Bollywood stars have been actively involved in real estate dealings in the Oshiwara region.Read more

21 Nov 2023

A level-II fire erupted in Byculla West, Mumbai, damaging structures including the Jubali building and Dhobighat chawl. The fire, covering 5,000 to 6,000 square feet, was extinguished by 12:03 p.m. Nine people were rescued, and no injuries were reported. The affected area housed manufacturing units for leather goods, causing significant losses. While the cause is under investigation, a short circuit is suspected. The incident highlights vulnerabilities due to limited ventilation and the use of inflammable materials. Residents escaped unharmed, but the economic impact on workers and business owners is substantial, emphasizing the need for fire safety measures.Read more

21 Nov 2023

The Bombay High Court has rejected interim relief in response to a petition by slum dwellers seeking over Rs 15 crore in transit rent arrears or the cancellation of a developer's appointment in a significant Slum Rehabilitation Authority (SRA) project at Jerbai Wadia Road, Parel. The court stayed the proceedings before the Apex Grievance Redressal Committee (AGRC) and questioned the spectrum of rights claimed by the slum societies. The court highlighted the issue of enormous inequity in the city and emphasized the need for statutory interpretation in the case. The next hearing is scheduled for January 29, 2024.Read more

18 Nov 2023

Paresh Parekh and Vijay Parekh, directors at Suraksha Realty, recently acquired two luxury sea-facing apartments in Mumbai's Worli area for a combined Rs 100 crore. The high-end residences, located on the 26th and 27th floors of Naman Xena, offer 6,458 sq ft each. Despite elevated mortgage rates and property prices, Mumbai witnessed a staggering October with 10,566 property registrations, reflecting a strong demand and increased sales during the festive season.Read more

18 Nov 2023

The Bombay High Court has intervened in a dispute between Swashray CHS in Borivali (West) and developer Shanti Enterprises, emphasizing that a housing society should not be bound by a development agreement if the developer consistently defaults, leaving the project incomplete. The court restrained the builder from obstructing construction either through self-development or a new appointee. Swashray CHS terminated its 2018 agreement with Shanti Enterprises in March 2023, citing a lack of faith in completion and outstanding transit rent of Rs 90 lakh.Read more

18 Nov 2023

Triveni Developers, led by Ashok Jethwa and Mihir Jethwa, face legal action for alleged fraud involving delays and deception in housing transactions, particularly impacting an 82-year-old buyer. Rameshchand Joshi filed a case against the developers, accusing them of failing to deliver a promised flat despite receiving payments. Multiple assurances and missed deadlines led to a case citing breach of trust and cheating. The complaint, now expanded by Joshi's daughter, reveals a wider pattern of fraudulent practices, including selling the same flats to multiple buyers without necessary permissions, emphasizing the importance of vigilance in real estate transactions.Read more

18 Nov 2023

The BMC, in response to a structural audit, will undertake both minor and major repairs on 51 bridges from Malad to Andheri, costing Rs 41 crore. M/s CE Infra (India) secured the contract at 23.40% below the estimated cost of Rs 35 crore. M/s SGS Consultancy Services conducted a survey, making recommendations that the initiative follow. This survey covered P/South (Goregaon), P/North (Malad), and K/West (Andheri West) wards. The proactive approach arises from the 2019 Himalaya Bridge collapse, signalling a commitment to safety. The repairs aim for completion within 12 months, navigating the challenges posed by the monsoon.Read more

18 Nov 2023

Ghatkopar station in Mumbai is undergoing a Rs 130 crore makeover, featuring a new middle foot over bridge (FOB) and an elevated deck on the east side. The 12-meter-wide middle FOB will incorporate modern technology and escalators on key platforms, ensuring efficient vertical movement for passengers. The elevated deck, spanning 15 meters in width and 47 meters in length, will connect with the existing Metro FOB and house a booking office with five counters. The project is headed by the Mumbai Rail Vikas Corporation (MRVC) and is expected to be completed in two phases. The upgrade aims to enhance connectivity, streamline passenger movement, and alleviate congestion at the station.Read more

17 Nov 2023

The festive season in India, spanning Navratri to Diwali, brought a surge in property registrations in Mumbai, with a 30% YoY increase totalling 12,600 registrations and Rs 1,257 crores in revenue. Maharashtra Real Estate Regulatory Authority approved 823 projects, addressing challenges and ensuring a less than 4% customer complaint rate, emphasizing commitment to a stringent registration process. The impact highlights the positive influence of festivities on India's real estate market.Read more

17 Nov 2023

Mahindra Lifespace Developers, the real estate arm of Mahindra Group, has terminated the joint development of a 4.8-acre land parcel in Dahisar East, Mumbai, citing significant delays in regulatory clearances. The project, initially announced in October 2021, aimed to provide approximately 5 lakh sq. ft. of carpet area. Additionally, the company faces a Rs. 4.6 lakh penalty from Pimpri Chinchwad Municipal Corporation for alleged violations related to air pollution control at its Pune construction site, as per the Air (Prevention and Control of Pollution) Act 1981 and state regulations.Read more

16 Nov 2023

CapitaLand India Trust (CLINT) secures a significant INR 13 billion loan from J.P. Morgan for its Navi Mumbai data centre project, signalling a turning point in India's digital evolution. The move reflects CLINT's commitment to astute capital management and diversification. With a robust real estate portfolio and proactive entry into the data centre sector, CLINT emerges as a key player shaping India's digital and real estate future. Stakeholders anticipate how these strategic moves will contribute to the evolving narrative of India's transformation.Read more

16 Nov 2023

The Charkop lake in Mumbai, once a 4.5-acre wetland, is now reduced to 1,000 sq ft due to alleged collusion between the land mafia and government officials. Encroachers have built garages, go downs, restaurants, and stalls, leading to civic demolitions with limited impact. Activists claim the land mafia, with officials' support, filled the lake with debris. In 2013, the Bombay High Court ordered protection for identified wetland areas, but enforcement remains lax. Residents emphasize the ecological role of the wetland, urging officials to act. Despite ongoing environmental studies and complaints, effective conservation measures are yet to be implemented.Read more