17 Aug 2023

Following the revelation of a counterfeit seal and forged documents scam, the VVMC swiftly responded by initiating legal action against previously served notices to illegal buildings. Fresh FIRs were lodged against unlawfully constructed properties, including Vinayak Apartment, Omkar Apartment, and Anandi Villa. The VVMC is pursuing comprehensive investigations into the confiscated records of 55 illicit residential structures linked to accused developers. With a concerning 90 percent of Virar (E) buildings being illegal, anxiety prevails among residents, underscoring the urgent need for intervention. Amidst this, activists reveal a pattern of unauthorized construction tactics, highlighting the need for robust regulatory measures.Read more

17 Aug 2023

The Bombay High Court has ousted builders Parekh Constructions, Parekh Constructions LLP, and Nishcon Realty from a south Mumbai redevelopment project due to their failure to deposit arrears for tenants. The court ordered their complete removal by Independence Day, highlighting the builders' responsibilities and emphasizing citizens' rights in urban development. The Maharashtra Housing and Area Development Authority (MHADA) has been authorized to appoint a new builder, ensuring accountability and project progress.Read more

16 Aug 2023

Mangal Prabhat Lodha, Mumbai's suburban guardian minister, has altered his stance on a substantial public toilet tender after initially advocating for pre-cast facilities. Lodha now urges the BMC to proceed with the traditional tender, citing potential delays in construction and citizen inconvenience. Earlier, he had requested a halt to the Rs 488-crore tender, advocating for pre-cast toilets in select locations. This flip-flop in decision-making has drawn criticism from opposition leader Ravi Raja, who accuses the BMC of being unduly influenced. The situation highlights the complexities of decision-making and priorities in enhancing Mumbai's slum sanitation infrastructure.Read more

16 Aug 2023

In a significant development, the Bombay High Court has expressed grave concern over the deteriorating situation in Mumbai. The court has suggested that government intervention might be imperative to rein in rogue builders failing their obligations in redevelopment projects. Justices Gautam Patel and Neela Gokhale emphasized the priority of residents' rights over developers' profits, warning against treating citizens as mere hindrances. The court's observations were made in response to a case involving tenants' rights. The court issued a strict directive for the payment of outstanding transit rent and threatened to cancel developer permissions if defaults persist.Read more

14 Aug 2023

In response to water-logging concerns, the BMC intends to place 25 robust dewatering pumps along the entire 10 km Mumbai Coastal Road Project (MCRP) stretch. Triggered by recent water-logging at Marine Drive, a congested drainage outfall due to construction debris led BMC to utilize cranes for clean-up. Subsequently, SWD officials surveyed the coastal road area, prompting the MCRP team to deploy pumps at 25 locations, especially where drainage work is ongoing. This initiative aims to mitigate flooding risks and enhance drainage efficiency in the wake of such incidents.Read more

14 Aug 2023

Dharavi residents in Mumbai rallied on Wednesday, calling for the Maharashtra government's direct involvement in the area's redevelopment. Joined by the Aam Aadmi Party and local activists, protestors emphasized the need for an updated housing survey. Opposition to the Adani Group, recently awarded the redevelopment contract, was evident. Activists advocate for a Special Economic Zone, emphasizing Dharavi's importance as a hub for small-scale industries. The project, won by Adani Properties, has an estimated revenue potential of Rs 20,000 crore.Read more

12 Aug 2023

Five individuals, including two prominent developers, have been arrested in Mumbai for allegedly constructing 55 residential buildings under fraudulent permissions, using counterfeit seals from government authorities. Investigations reveal that the accused may have been duping potential homeowners since 2015. Besides the fake seals, fraudulent letterheads from major municipal bodies were also discovered. The full extent of the scam is still being uncovered, but losses to the state could be in crores. As the case progresses, buyers are urged to verify their property's legal standing with local municipalities.Read more

12 Aug 2023

Builder Rajan Dhruv of Orbit Ventures evaded authorities, hiding in a Pali Hill flat for two hours as Economic Offences Wing (EOW) and Khar police aimed to serve a notice in an Rs 11.76-crore cheating case. Despite doorbell issues, a key maker eventually opened Dhruv's door. A 57-year-old woman had lodged a complaint against Dhruv and other directors at Khar police station. EOW took charge of the investigation. Dhruv allegedly took 11.76 crore from the complainant and failed to repay, offering a promised commercial unit instead, but not delivering. Charges include criminal breach of trust.Read more

10 Aug 2023

Chandak Group, has signed an agreement to redevelop a housing society in Mumbai's Andheri suburb. The project will cover a land area of 3.6 acres and has a total development potential of over 460,000 sq ft. The saleable area of the project is estimated to be over 281,000 sq ft, with a revenue potential of Rs 956 crore. The project is expected to be completed within four years. Chandak Group has already obtained a no-objection certificate from the Airports Authority of India for the construction of new buildings on the land parcel. This redevelopment project is part of the company's portfolio, which includes completed and ongoing projects across Mumbai.Read more

10 Aug 2023

HDFC Bank, a leading private sector bank in India, has secured a significant lease of 1 lakh sq. ft. office space in Mumbai's competitive commercial real estate sector from Blackstone. The five-year agreement at $165 per sq. ft. monthly rent showcases the bank's commitment to expanding its presence in the city's financial hub. With world-class amenities and a strategic location, this collaboration positions HDFC Bank to leverage Mumbai's flourishing financial landscape, cater to growing customer demands, and foster innovation among its workforce. The deal is expected to spur further growth in Mumbai's commercial real estate sector.Read more

09 Aug 2023

In a bid to revolutionize Mumbai's public transport system and address the challenge of land scarcity, the Mumbai Metropolitan Region Development Authority (MMRDA) is set to introduce a ground breaking solution – two-level parking spaces for metro rakes. This strategic move aims to significantly enhance the efficiency and capacity of the city's metro network, ultimately reducing train frequency and bolstering connectivity.Read more

09 Aug 2023

Amid mounting anticipation, MHADA Mumbai Housing Lottery 2023 applicants anxiously await the draw date. Initially set for July 18 but postponed due to an extended application deadline, MHADA officials promise to reveal the date soon. Over 120,000 valid entries vie for 4,082 flats in prime locations like Juhu and Andheri, with a colossal Rs 519 crore deposited as earnest money. Speculation on MHADA profiting from bank interest is dismissed. The flats encompass various categories, including PMJAY, EWS, LIG, middle-income, and high-income units. As excitement peaks, Mumbai's hopeful residents await crucial news that will impact both MHADA and the aspirants.Read more

08 Aug 2023

The redevelopment of Malad Ganga Cooperative Housing Society in Mumbai's western suburbs met with a temporarily hurdle recently when minor society member filed a petition to halt the project on account of concerns of having to relocate their business establishments. The court ruled in favour of the redevelopment project and has allowing work to resume without interference. Mumbai has been witnessing a surge in housing society redevelopments projects with Bandra-Khar-Santacruz belt recording 780 projects in 2022. Recently, Kolte Patil inked a deal to redevelop two projects in Bangur Nagar in Goregaon and Kalpatru announced a redevelopment project in Borivali.Read more

07 Aug 2023

An architect in Bombay has filed a PIL in the Bombay High Court seeking changes to the proposed design of the Mumbai Coastal Road (South) to create more accessible open spaces without altering the entire project. The plea asks the court to appoint an expert committee, including urban design specialists, to assess the feasibility of the proposed changes. The petitioner suggests shifting the road inward and placing open spaces on the seaward side of the reclaimed land. The PIL emphasizes the significance of well-designed public areas, as a majority of the city's population is likely to utilize them over the road.Read more

07 Aug 2023

The Bombay High Court has established a committee comprising officials from various departments to propose a roadmap for reconstructing and repairing 45 kilometres of roads in the ecologically sensitive Aarey Colony. The court addressed concerns raised in public interest litigations about the roads' poor conditions and directed the committee to consider environmental regulations and eco-sensitive zone laws during their work. The committee must present its recommendations for funding and repair plans before the next hearing on September 23. The court also emphasized the need for cooperation among authorities and directed immediate repairs for a specific road segment.Read more

07 Aug 2023

Kolte-Patil Developers (KPDL) has inked deals for two new society redevelopment projects in Mumbai's Goregaon West, adding to its recent acquisitions in April-May 2023. These latest projects encompass a total saleable area of around 4.8 lakh sq. ft., with a combined top line potential of Rs. 950 crore. Including previous acquisitions in Pune and Mumbai, the company's new business development deals now aggregate a top line potential of Rs 3,450 crore. This move emphasizes Kolte-Patil's ongoing commitment to growth and innovation in the Indian real estate market.Read more

07 Aug 2023

The late Bollywood legend Dilip Kumar's Pali Hill bungalow in Mumbai is set to be transformed into a luxury residential complex. The Ashar Group, who have teamed up with Kumar's family, will oversee the development, which will also feature a museum dedicated to the actor's life and career on the ground floor. Construction is underway, with completion expected well ahead of the 2027 delivery date. The anticipated revenue from the project is estimated at INR 900 crores. Legal hurdles that had previously stalled development have been resolved, clearing the way for this unique fusion of heritage and modern living.Read more

05 Aug 2023

In July 2023 property registrations in Mumbai are expected to reach 10,214 units, a 10% decline from last year, but revenue collection remains steady at INR 832 crores. Despite a dip in overall registrations, the luxury segment (properties valued at INR 1 crore and above) continues to thrive, accounting for 57% of the registrations. This sustained demand in the higher price segment, coupled with resilience against interest rate hikes, underscores the ongoing strength of Mumbai's residential market.Read more

05 Aug 2023

AG Enviro Infra Projects and Metro Waste Handling are partnering to construct two waste plants in Mumbai to process 1,200 tonnes of construction waste daily, producing precast concrete products. The Bombay Municipal Corporation is recruiting supervisors to oversee the plant construction. One plant in Gorai will handle waste from the western suburbs, and the other in Shilphata will process waste from the eastern suburbs and the city. The BMC has introduced the "Debris on Call" facility to ensure proper waste disposal and prevent unauthorized dumping. The plants will process drains and paver blocks, with AG Enviro Infra Projects and Metro Waste Handling selling the products. The plants are scheduled to be operational by February 2024.Read more

03 Aug 2023

Union Bank of India, Bank of Baroda and Yes Bank have issued e-auction sale notices for the sale of immovable assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The online auction will be conducted on a dedicated platform, where interested bidders must register themselves beforehand to qualify. Properties sold at these auctions will be offered on a an "as is what is," "whatever there is," and "without recourse basis". Therefore, the rules of caveat emptor apply. Interested bidders are required to register on the designated e-auction platform, and meet the specific eligibility criteria to participate.Read more