Advertisement
02 Mar 2026
Bollywood actor Shraddha Kapoor has renewed the lease on her premium sea-facing apartment in the Prime Beach building in Juhu, Mumbai, agreeing to pay a monthly rent starting at INR 6 lakh, according to property registration documents reviewed from the Inspector General of Registration (IGR) records. The lease renewal, registered in February 2026, is for a 12-month term, making the total rental value for the period INR 72 lakh. The apartment spans approximately 365 sq metres (about 3,929 sq ft) and includes four dedicated car parking spaces. The renewal follows a prior lease registered in October 2024 and reflects sustained demand for high-end residential rentals in Mumbai's coveted Juhu locality, one of the city's most sought-after neighbourhoods for premium real estate. The agreement attracted a stamp duty payment of INR 36,000 and registration charges of INR 1,000.Read more
02 Mar 2026
The Brihanmumbai Municipal Corporation (BMC) has proposed a total budget outlay of INR 80,952.56 crore for the financial year 2026-27, reflecting an increase of 8.77 per cent over the previous year's estimate. Capital expenditure has been set at INR 48,164.28 crore, marking a rise of nearly 11.6 per cent compared to the revised allocation for FY26, underscoring a continued focus on infrastructure-led spending. Revenue expenditure has also been increased, alongside higher projected revenue income driven partly by improved property tax collections. The budget was tabled earlier this week by Municipal Commissioner Bhushan Gagrani and comes after downward revisions to both capital and revenue spending in the ongoing fiscal following expenditure rationalisation measures.Read more
02 Mar 2026
The Brihanmumbai Municipal Corporation (BMC) has initiated steps to auction 12 properties across Mumbai to recover over INR 269 crore in long-pending property tax dues. Final notices have been issued to defaulters, giving them 21 days to clear payments before e-auction proceedings begin. The properties include commercial buildings, vacant plots and mixed-use sites in prime locations such as Fort, Bandra, Andheri and Santacruz. The action is part of BMC's ongoing drive to improve tax recovery and strengthen municipal revenues amid rising arrears.Read more
02 Mar 2026
Shree Krishna One Uttam is a premium residential project by Shree Krishna Group in Chembur East, Mumbai, spanning 3.5 acres with 4 towers of 18 floors each. It offers spacious 2, 3, 4 & 6 BHK apartments (780-2400 sq ft) with amenities like swimming pool, gym, clubhouse, jogging track, and kids' play area. Gated community with excellent connectivity to Eastern Express Highway, Chembur station, and local malls.
01 Mar 2026
The Bombay High Court has partly upheld an arbitral award in favour of Mumbai Metro One Pvt Ltd (MMOPL) in its dispute with the Mumbai Metropolitan Region Development Authority (MMRDA) over cost escalation in Metro Line 1. While the court accepted that project delays led to higher costs, it significantly reduced the compensation earlier granted by the tribunal. Several additional claims, including overheads, financing costs and loss of profit, were rejected due to insufficient proof. The ruling follows a long legal battle arising from delays in executing Mumbai's first metro corridor.Read more
01 Mar 2026
The Brihanmumbai Municipal Corporation (BMC) has allocated INR 7,456 crore for the health department in its 2026-27 budget, marking a marginal increase over last year. A key project includes a 16-storey multi-specialty hospital in Kamathipura, expected to be completed by May 2027. The civic body will also introduce artificial intelligence-based diabetic retinopathy screening and open three dialysis centres under public-private partnership. However, revenue spending has seen only limited growth, raising concerns about operational capacity in existing civic hospitals.Read more
01 Mar 2026
The Parel Sewri stretch in central-eastern Mumbai is witnessing a gradual repositioning as a potential luxury residential micro-market, driven by large-scale infrastructure upgrades and land availability. Improved connectivity through the Mumbai Trans Harbour Link, originating near Sewri, has strengthened access to Navi Mumbai, while proposed road and connector projects are set to enhance links with South and Central Mumbai. Parel's established luxury housing ecosystem, shaped by mill land redevelopment, is now converging with Sewri's industrial land parcels, which are beginning to attract residential and mixed-use interest. Industry stakeholders point to the availability of larger plots, infrastructure-led regeneration and waterfront adjacency as factors supporting premium housing formats. The shift reflects a broader eastward expansion of Mumbai's luxury residential landscape beyond traditional western corridors.Read more
01 Mar 2026
The Bombay High Court has ruled that the Enforcement Directorate's arrest of Prateek Kanakia, co-founder of The Green Billions Limited, was illegal and without sufficient justification under the Prevention of Money Laundering Act. The court quashed the remand orders passed by the PMLA court and directed his release with conditions. The case stems from alleged diversion of INR 50 crore from an INR 80-crore loan sanctioned for a Pune waste management project. The court noted lack of evidence linking Kanakia to the diverted funds and absence of non-cooperation.Read more
01 Mar 2026
Mumbai's property investment landscape in 2026 is being shaped by a combination of large-scale infrastructure delivery, expanding transit networks and a growing preference for lifestyle-oriented residential formats. Several micro-markets across the city and its periphery are emerging as key investment destinations, spanning established luxury corridors, evolving commercial-residential hubs and plotted development zones. Locations such as Chembur and Mulund are benefiting from improved regional connectivity, while Panvel's growth is being driven by airport-led infrastructure and integrated township development. Peripheral markets like Karjat are drawing interest for plotted and second-home formats, while western suburbs including Malad and Goregaon continue to see steady demand for premium housing. Together, these markets reflect a broader shift towards connectivity-led, long-term residential investment opportunities across the Mumbai Metropolitan Region.Read more
01 Mar 2026
South India-based residential developer Casagrand Premier Builder Limited has expanded its operational footprint in western India with the inauguration of a development office in Mumbai. Located in Lower Parel, the new office is intended to serve as a strategic base for the company's growing focus on Maharashtra, where it already has an ongoing residential project in Pune. The inauguration was attended by Shaina NC and the company's Chairman and Managing Director Arun Mn, along with senior leadership. Casagrand, which has built a portfolio of more than 180 projects across India and Dubai, has traditionally been concentrated in southern markets. The Mumbai office reflects its long-term intent to deepen engagement with western India's real estate ecosystem, including consultants, partners and homebuyers, while strengthening operational execution in the region.Read more
Advertisement
01 Mar 2026
Construction of a proposed jetty at Cuffe Parade in south Mumbai was stopped after it emerged that mandatory Coastal Regulation Zone (CRZ) permissions had not been obtained. The project, initiated by the Maharashtra Fisheries Development Corporation, faced strong opposition from residents who said it would impact a community-developed promenade. The Cuffe Parade Residents Association claimed to have spent over INR 30 crore on maintaining the space. They also raised concerns about encroachments, illegal structures and questioned the need for another jetty when the nearby Vadwapa jetty already serves local fishermen.Read more
01 Mar 2026
The Navi Mumbai Municipal Corporation has carried out a demolition drive against unauthorised construction in the Nerul division, intensifying enforcement under the Maharashtra Regional and Town Planning Act, 1966. The action was undertaken on 23 February 2026 after the concerned property owner failed to comply with a notice issued under Section 54 of the Act within the stipulated period. The structure, located in Sector 6, Sarsole village, Nerul, was found to be under illegal construction despite prior intimation from the civic authorities. The demolition was executed by the encroachment department with mechanical support and police protection, under the supervision of senior municipal officials. The civic body has stated that similar anti-encroachment actions will continue across its jurisdiction to curb unauthorised development.Read more
01 Mar 2026
Mumbai's redevelopment landscape has evolved beyond the replacement of ageing buildings, emerging as a key driver of premium residential growth across suburban markets. As redevelopment activity gathered pace earlier this year, projects across several suburbs moved towards completion or entered new phases, reflecting a broader shift in urban renewal. What began as a response to ageing housing stock and land constraints has developed into a new phase often described as Luxury 2.0, where redevelopment projects integrate modern infrastructure, enhanced amenities and long-term value creation. Supported by policy incentives under Development Control and Promotion Regulations 2034 and strengthened by metro expansion and road connectivity, suburban redevelopment is increasingly delivering high-end housing. Locations across western and central Mumbai are witnessing rising per sq ft values, larger homes and lifestyle-led developments, repositioning suburbs as core residential destinations rather than peripheral markets.Read more
28 Feb 2026
The Bombay High Court has allowed the Brihanmumbai Municipal Corporation (BMC) to use 17,756 sq metres of land in Worli for a sewage treatment plant and related civic infrastructure. The land was originally reserved for this purpose but the reserved area was later reduced from around 27,700 sq metres following a State government order in mid-2024. The court said it will examine how and why this reduction was approved. The developer has assured the court that transit camp structures built on the site will be removed within 90 days.Read more
28 Feb 2026
Mumbai-based real estate developer Platinum Corp. has entered into a design collaboration with interior designer Sussanne Khan for a set of upcoming residential developments planned across key micro-markets in Mumbai, including Bandra, Khar, Santacruz and Andheri. The partnership forms part of the developer's 2026 development pipeline and is aimed at integrating interior design planning more closely with architectural and lifestyle-led residential formats. Khan will be involved across shared and private residential spaces, with a focus on understated, experience-driven interiors aligned with Platinum Corp's redevelopment-led luxury housing strategy. The developer stated that the collaboration seeks to deliver consistency in design language across select projects, while retaining functional planning and long-term residential usability within high-density urban locations.Read more
28 Feb 2026
The Maharashtra government has issued more than 1,000 stop-work notices to construction sites across Mumbai for failing to comply with dust and air pollution control norms, the state environment minister informed the legislative assembly earlier this week. Out of 2,224 active sites, 1,952 have installed air quality monitoring sensors, but several were found violating mandatory mitigation rules. Nearly 1,981 show-cause notices were served over the past four months. Authorities have also collected fines and intensified road-cleaning measures as part of the ongoing clean air enforcement drive.Read more
28 Feb 2026
Maharashtra Housing and Area Development Authority (MHADA) says large-scale cluster redevelopment and targeted policy reforms are essential to address Mumbai's deepening housing affordability crisis, as the city's developable land nears exhaustion. Speaking at the ET Realty Real Estate Conclave 2026, MHADA Vice-President and Chief Executive Officer Sanjeev Jaiswal highlighted that Mumbai's housing affordability index — where an average household spends roughly half its income on home loan EMIs — reflects structural constraints in the supply system. He outlined plans to open 800-1,000 acres for cluster-led redevelopment in integrated layouts and called for rationalisation of premiums, development charges and taxes to reduce housing costs by up to 25 per cent. MHADA's roadmap, he said, would help deliver a substantive share of future housing supply and underpin broader efforts to expand access across income segments.Read more
28 Feb 2026
The Navi Mumbai Municipal Corporation has carried out partial demolition action against unauthorised construction in the Koparkhairane division after the concerned party failed to comply with a statutory notice issued under the Maharashtra Regional and Town Planning Act, 1966. The action was undertaken on 23 February 2026 following the expiry of a notice served on 17 February 2026 for illegal construction at Plot No. 1034, Koparkhairane, Navi Mumbai. The encroachment department proceeded with partial demolition and recovered a penalty of INR 25,000 from the owner. The operation was executed under senior civic supervision with police protection and mechanical assistance. The municipal corporation stated that similar enforcement drives will continue across its jurisdiction to deter unauthorised development and ensure compliance with planning regulations.Read more
28 Feb 2026
The Navi Mumbai Municipal Corporation carried out large-scale cleanliness drives across multiple locations under the 'Clean water, clean mind' initiative, implemented as part of the Amrut project with active public participation. The campaign, conducted earlier this week on a public holiday, saw civic officials, sanitation workers and volunteers from Sant Nirankari Mission jointly undertaking intensive cleaning activities at water bodies and public spaces across Navi Mumbai. Key locations included Jewel of Navi Mumbai, Chincholi Lake in Jui Nagar and the Mini Sea Shore area in Vashi. Collected waste was transported for scientific processing to the municipal solid waste facility at Turbhe.Read more
28 Feb 2026
The BMC has launched an inquiry into the Phoenix HSBC Racquet Club amid allegations of unauthorised commercialisation of a recreational ground at Phoenix Mills, Lower Parel. Citizens' group Chaka Chak Lower Parel reported that the 4,058.16 sq.m terrace, originally sanctioned as a public recreational ground, is being used as a ticketed, revenue-generating sports club managed by Bellona Hospitality Services. The complaint cites violations of the MRTP Act, MMC Act, and Development Control and Promotion Regulations, noting that such conversions limit public access and could set a precedent for reducing open spaces in Mumbai.Read more
Advertisement
