15 Sep 2025
The Maharashtra government has cleared the INR 23,487 crore Metro Line 11 project, running 17.5 km from Wadala's Anik Bus Depot to SPM Circle near the Gateway of India, with 14 stations-13 underground. The project will be funded jointly by the state (INR 3,137 crore), the centre (INR 3,137 crore), Brihanmumbai Municipal Corporation (INR 2,411 crore) and Mumbai Port Authority (INR 804 crore), with a 60% loan from financial institutions. The fare slab is fixed between INR 10 and INR 70, rising by INR 10 every three stations, and the line aims to ease traffic congestion and integrate with other metro lines.Read more
15 Sep 2025
The Bombay High Court has provided significant relief to real estate developers by ruling that Goods and Services Tax (GST) on construction services under Joint Development Agreements (JDAs) is payable only upon transfer of ownership through conveyance, and not at the time of signing the agreement. The judgment came in a case involving Provident Housing, which had challenged a tax demand and sought a refund of INR 7 crore deposited under protest. Developers had argued that the earlier interpretation forced them to bear an 18% GST burden upfront, often without input tax credit, inflating project costs and ultimately impacting homebuyers. This clarity is expected to streamline redevelopment deals, ease financial strain, and improve affordability in land-scarce urban markets.Read more
15 Sep 2025
Mumbai's historic Elphinstone Road Over Bridge, a key east-west link connecting Parel and Prabhadevi, will be closed for vehicular traffic ahead of its demolition and reconstruction. The bridge, over a century old, will be replaced with a modern double-decker structure as part of the Sewri-Worli Elevated Connector project by MMRDA. The upgraded bridge will feature dual carriageways on both levels, enhancing connectivity between central Mumbai, the Mumbai Trans Harbour Link, and the Bandra-Worli Sea Link. A detailed traffic management plan has been devised to minimise inconvenience during the closure.Read more
15 Sep 2025
14 Sep 2025
13 Sep 2025
The Brihanmumbai Municipal Corporation (BMC) has prepared a policy to manage Mumbai's Western and Eastern Express Highways, which are around 25 kilometers each. The plan suggests consistent maintenance of central medians, better management of road work, measures to reduce traffic jams, and clear rules for advertisements along the highways. It has been sent to the municipal commissioner for review. The policy comes after repeated concerns over traffic congestion, irregular maintenance, and unclear rules for advertisements on these busy commuter routes.Read more
13 Sep 2025
12 Sep 2025
Mumbai's civic body will demolish the INR 27 crore Veer Savarkar flyover at Goregaon-opened in 2018-and replace it with a double-deck elevated bridge. Additional Municipal Commissioner Abhijit Bangar confirmed the move, noting that the new structure will better handle both local traffic and regional connectivity. The bridge, part of the Coastal Road 2 project, will directly link the Malad-Mindspace stretch with the Goregaon-Mulund Link Road, easing bottlenecks. Designed with a single-pier system and two traffic decks, it promises smoother flows compared with the current flyover. Citizens have compared the decision to the Gokhale-Barfiwala flyover mismatch of 2022, citing planning lapses.Read more
12 Sep 2025
The Reserve Bank of India (RBI) will set up a new office complex on a 4.2-acre site at Nariman Point, one of Mumbai's most prestigious business districts. The land, earlier owned by Mumbai Metro Rail Corporation Limited (MMRCL), was formally transferred to RBI on September 5. MMRCL had originally planned to auction the parcel, expecting INR 5,173 crore, with major real estate players showing interest. However, the tender was withdrawn after RBI expressed intent to acquire it, enabling a direct government-to-government deal. The plot, once home to party offices, was later cleared for the Vidhan Bhavan Metro station under Line 3.Read more
12 Sep 2025
The Navi Mumbai Municipal Corporation (NMMC) carried out demolition drives in Airoli and Koparkhairane after occupants ignored earlier notices against unauthorised constructions. In Airoli, illegal work on three Sector 2 plots by Nitin Vaman Nagral was razed, with officials also collecting a INR 75,000 penalty. In Koparkhairane, partial demolition was undertaken at House No. 366, owned by Hemchandra Dhondiram Mhatre, along with a INR 15,000 fine. Both operations, supervised by senior civic officials and supported by police, used heavy equipment and labour teams. The civic body has warned that similar anti-encroachment actions will intensify, aiming to enforce planning laws and curb unauthorised development.Read more
Private equity has played a significant role in shaping Indi...
In today’s real estate landscape, fitness is often treated...
In this episode of Prop Personalities, we sit down with Hars...
Luxury real estate is one of the most talked-about segments ...
Welcome to Prop Personalities by Prop News Time - a podcast ...
12 Sep 2025
11 Sep 2025
The Brihanmumbai Municipal Corporation (BMC) will restart work on 574 partially completed roads from October 1, prioritising stretches in South Mumbai, Bandra, Santacruz, Kandivli, Charkop, Khetwadi, and Tejpal Road in D Ward. The civic body will also review 776 proposed roads under tender evaluation. Nearly 25 roads have been removed from plans due to narrow widths or local opposition, with some resurfaced in asphalt. A public dashboard will provide zonewise and wardwise progress, ongoing updates, and expected timelines. The mega concretisation programme spans 2,121 roads across two phases, covering around 609 kilometres.Read more
11 Sep 2025
Final safety checks have begun on the first phase of Mumbai Metro Line 2B, with the Commissioner of Metro Railway Safety inspecting a 5.39 km stretch from Mandale to Diamond Garden. Covering five stations-Mandale, Mankhurd, BSNL, Shivaji Chowk, and Diamond Garden-the review will clear the way for passenger operations by late September, subject to compliance. Trial runs have already been completed, and the depot is ready for operations. The remaining 18.2 km stretch up to D N Nagar is 88% complete, with operations expected in early 2026. Once fully functional, the 23.6 km Yellow Line will serve 20 stations and carry over one million passengers daily.Read more
11 Sep 2025
The Navi Mumbai Municipal Corporation (NMMC) recently carried out anti-encroachment operations in Ghansoli and Koparkhairane after property owners and developers failed to comply with issued notices. Under the directives of senior civic officials, unauthorised structures were demolished with the assistance of machinery, labourers and police deployment. The action followed repeated violations where developers had continued construction without mandatory approvals despite warnings from the civic body.Read more
11 Sep 2025
The Godrej Enterprise Group (GEG), among Mumbai's largest private landholders, has initiated a master planning exercise for its 1,000-acre parcel in Vikhroli. Executive director Nyrika Holkar stated that while some manufacturing activities had shifted out of the site, operations would continue at Vikhroli alongside long-term systematic development. The land, largely controlled by the Jamshyd Godrej and Smita Crishna branch of the family, also accommodates Godrej & Boyce businesses, leased IT offices, and environmentally sensitive mangroves.Read more
11 Sep 2025
10 Sep 2025
Mumbai's housing sector is witnessing significant transformation through society redevelopment, with over 44,000 new homes expected to come up by 2030, valued at around INR 1.3 lakh crore, according to Knight Frank India. Since 2020, 910 housing societies have signed development agreements, unlocking more than 326 acres of potential land. Western suburbs are projected to account for the majority of these additions, while South Mumbai will see modest growth. With nearly 1.6 lakh societies eligible for redevelopment, and state revenues from free-sale units and GST projected at over INR 13,000 crore combined, redevelopment is proving to be a major driver of urban renewal.Read more
10 Sep 2025
09 Sep 2025
The Mumbai Railway Vikas Corporation (MRVC) has issued an e-tender worth INR 21,000 crore for procuring and maintaining 2,856 air-conditioned Vande Metro suburban coaches over 35 years. This initiative is a part of the Mumbai Urban Transport Project (MUTP) Phases 3 and 3A, aims to modernize the city's suburban railway network and reduce overcrowding. The new coaches will operate in 12-, 15-, and 18-car formations, with maintenance depots at Bhivpuri on the Central Railway line and Vangaon on the Western Railway line. Global bids are scheduled to open in December 2025, with the first prototype expected within two years of contract award.Read more
09 Sep 2025
The Siddhivinayak Temple Trust in Mumbai has planned an expansion by acquiring Ram Mansion, a residential building near the temple, for INR 100 crore. Talks are also ongoing with the Siddhivinayak Cooperative Housing Society to buy its land. Together, both plots measure about 1,800 sqm and will allow the trust to build a darshan queue complex, a food hall, toilets, changing rooms, and staff housing. The move aims to improve facilities for devotees, as the temple currently struggles to manage large crowds during peak days.Read more