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

Patrons of a popular restaurant in Bandra find a rat in their meal

19 Aug 2023

In Mumbai, the manager and two cooks of a prominent Bandra restaurant were arrested after a customer complained of discovering a baby rat in his meal. The incident unfolded at Papa Pancho Da Dhaba, a renowned eatery known for its Punjabi cuisine over the last two decades. Anurag Singh found a baby rat in his chicken dish during a visit after shopping in Bandra. The manager and cooks were taken into custody by the Bandra police and charged under IPC sections 272 and 336. They were released on bail. The restaurant manager denied previous incidents and claimed intoxicated customers were involved. The legal battle continues between the customer and the establishment.Read more

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Mumbai's Slum Rehabilitation Authority takes action on unpaid transit rent issue

18 Aug 2023

Mumbai's Slum Rehabilitation Authority (SRA) is taking action in response to a 2019 Public Interest Litigation (PIL) that exposed developers' non-payment of transit rent to eligible slum residents. The Bombay High Court's directive on July 19 underscored the SRA's role in overseeing organized slum redevelopment, including ensuring developers regularly pay transit rent. The PIL initiated by Vijendra Rai against Omkar Realtors shed light on developers' failure to meet financial obligations. To address this, SRA appointed nodal officers across civic wards to receive complaints from affected individuals, streamlining the grievance process. The SRA is committed to transparency, sharing actions taken on their website. The court's involvement continues, with the next hearing set for August 30, marking progress toward resolving the issue of unpaid transit rent for Mumbai's slum residents.Read more

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Mahindra Lifespaces collaborates with KidZania to empower children as sustainability advocates

18 Aug 2023

Mahindra Lifespaces Developers Limited (MLDL) has partnered with KidZania Mumbai to empower children as sustainability advocates. MLDL's 'Experiences' within KidZania will offer interactive zones like Sustainable Design Studio, Green Power Zone, and Construction Zone, educating children about sustainable practices. The collaboration, aligned with MLDL's 'Green Army' CSR initiative, aims to foster environmentally conscious leaders. The announcement took place during a lively launch event at KidZania Mumbai, symbolizing the partnership's journey to educate young minds through engaging experiences.Read more

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Solitaire Group procures 20-acre land in Mumbai's Andheri for Rs 550 crore

18 Aug 2023

Solitaire Group, via its subsidiary Honest Vastunirman, has procured a 20-acre land parcel in Mumbai's Andheri from Arogya Bharti Health Parks and Arogya Bharati Hospitals for around Rs 550 crore. The deal encompasses the commitment to construct 140 residential units spanning nearly 38,000 sq. ft, to be delivered within six years. Honest Vastunirman has allocated Rs 230 crore to each of the healthcare organizations, alongside a stamp duty of approximately Rs 33 crore. This transaction is part of an ongoing trend in various property markets across India, signalling increased residential development endeavours by real estate firms aiming for higher sales in the coming quarters.Read more

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FIRs filed against three illegal buildings in Virar for repeatedly ignoring civic notices

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

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Bombay HC axes builders from redevelopment project in South Mumbai over arrears

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

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Mumbai Guardian Minister reverses decision on public toilet tender

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

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State intervention looms as Bombay HC considers drastic measures against defaulting builders

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

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BMC takes proactive measures to improve stormwater drainage system to address waterlogging issues

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

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Dharavi residents demand for government oversight in redevelopment plans

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

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Massive counterfeit scheme exposed, 55 buildings under scrutiny in Mumbai

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

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Orbit Ventures' director fled to neighbour’s flat during police visit

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

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Chandak Group to transform Andheri West with a new housing society redevelopment project

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

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HDFC Bank Leases 1 Lakh Sq. Ft. in Mumbai Towers owned by Blackstone

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

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Multi-level parking systems introduced in Mumbai’s Metro Depots

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

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MHADA's Mumbai housing lottery date awaited eagerly by 1.2 lakh applicants

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

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Mumbai city witnesses a boom in redevelopment activities with several new projects on the horizon

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

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Mumbai based architect files a PIL for accessible open spaces in the city’s Coastal Road Project

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

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Bombay High Court forms committee for Aarey Colony Road repair

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

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Kolte-Patil Developers signs two new society redevelopment projects in Bangur Nagar, Mumbai

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

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