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28 Mar 2025
Bollywood actor Akshay Kumar has sold two apartments in Oberoi Sky City, Borivali East, for INR 6.60 crore. The transactions, recorded on March 20, 2025, involved a 1,080 sq. ft. unit bought for INR 2.82 crore and sold for INR 5.35 crore, along with a 252 sq. ft. apartment acquired for INR 67.19 lakh and sold for INR 1.25 crore. This is his third sale in the project this year, following two earlier transactions in January and March. Oberoi Sky City, a ready-to-move-in development, has witnessed significant market activity, with 208 sale registrations worth INR 818 crore in the past year.
28 Mar 2025
The Brihanmumbai Municipal Corporation (BMC) evacuated residents from Dsouza Mansion in Santacruz, a C1-rated building deemed dangerous. The structure, which had been under scrutiny for its deteriorating condition, was vacated with police assistance to ensure compliance. Residents who had been resisting relocation expressed concerns over inadequate alternatives. The building's structural integrity had been questioned following recent municipal audits categorizing it as unsafe. Despite opposition from occupants, the civic body proceeded with the eviction to prevent potential hazards, marking another instance of BMC's ongoing efforts to address Mumbai's ageing infrastructure.
28 Mar 2025
The Enforcement Directorate (ED) is investigating an alleged land-grabbing and money laundering case involving unauthorized buildings in Nalasopara, constructed on public land. The case involves the demolition of four buildings by the Vasai-Virar Municipal Corporation (VVMC) in January, following a Supreme Court order that deemed them illegal. Authorities claim that the accused fraudulently acquired land, constructed 41 buildings, and sold flats worth INR 1,500-1,600 crore. This led to the eviction of 2,500 families, a matter recently debated in the Maharashtra state legislature. The agency suspects that the funds from these sales were laundered through various channels, prompting a deeper probe into the money trail.
28 Mar 2025
Mumbai's historic Elphinstone Road Overbridge (ROB), built 125 years ago during the British era, will be closed by April 10, 2025, to make way for a double-decker bridge under the Sewri-Worli Elevated Connector project. The MMRDA has nearly completed all clearances, including one from Mumbai Traffic Police, to begin demolition before the monsoon season. The ROB connects Prabhadevi and Parel, both key commercial and hospital zones. Traffic diversions via Curry Road and Tilak Bridge and new pedestrian FOBs will aid movement. One level of the new bridge is expected by April 2026, promising improved long-term connectivity and safety.Read more
28 Mar 2025
The Santacruz-Chembur Link Road (SCLR) has significantly improved east-west connectivity in Mumbai, cutting travel time between Santacruz and Chembur from nearly two hours to just 17 minutes. The ongoing extension aims to ease congestion further and introduce additional direct links. With the project cost rising to INR 650-670 crore due to delays, it features Asia's first curved cable-stayed bridge and new routes connecting Kurla to Vakola Junction and Chembur to Vile Parle. Once completed, it is expected to reduce congestion in key areas, such as the Bandra-Kurla Complex (BKC) and Vakola, by 30%, offering a smoother commute across the city. The final phase is anticipated to be completed in the coming months.Read more
27 Mar 2025
InterGlobe Hotels (IGH), a joint venture between InterGlobe Enterprises and Accor, is expanding its presence in India through a greenfield development strategy focused on key metropolitan markets. Recently, IGH launched its fifth property in Mumbai at Bandra Kurla Complex (BKC), adding 206 rooms and expecting it to contribute nearly 25% of Mumbai revenue in the next three years. The company is now eyeing further growth in Delhi-NCR, Hyderabad, Bangalore, Pune, and Goa. Currently operating 23 hotels across India, IGH reported 14% revenue growth in 2024 and anticipates maintaining this momentum. The ibis brand, targeting business travelers, enjoys occupancy rates of up to 90%, with projected ADR growth of 5-10% in 2025.
27 Mar 2025
Western Railway is set to clear encroachments on a 15,000 sq. meter prime plot in Bandra (East) near the Western Express Highway, earmarked for long-term infrastructure projects. While the land will not be used for commercial purposes, it is reserved for future expansion of railway activities. The plot, currently divided by a nullah and partially encroached upon, has suffered damage due to the dumping of construction debris. Officials highlighted that these squatters will soon be relocated following due process. Previously, the Railways conducted anti-encroachment drives in 2022, but illegal occupants returned. The land, valued at approximately INR 150 crore, remains crucial for upcoming railway development in Mumbai.
27 Mar 2025
Bollywood actress Huma Qureshi and her brother Saqib Saleem have leased a 3,370 sq ft luxury villa in Equest Condominium on Juhu Tara Road, Mumbai, for a monthly rent of INR 10 lakh, according to property registration documents. The villa, owned by Impact Films Pvt Ltd, includes an additional 2,654 sq ft basement, four car parking slots, a swimming pool, and a garden. The rental agreement, registered on February 25, 2025, is for 60 months with a 48-month lock-in period, a security deposit of INR 30 lakh, and a 10% rent escalation after 36 months. Juhu remains a Bollywood hotspot, home to several film stars and recent high-value property deals.
27 Mar 2025
Cricketer Suryakumar Yadav and his wife, Devisha Yadav, have acquired two luxury apartments in Deonar, Mumbai for INR 21.1 crore. The units, located in Godrej Sky Terraces, span a combined carpet area of approximately 4,222.7 sq. ft. and come with six designated parking spaces. The transaction, registered on March 21, incurred a stamp duty of INR 1.26 crore and a registration fee of INR 30,000. The project, covering 1.05 acres, has recorded 25 sales worth INR 202 crore in the past year, with an average price of INR 52,433 per sq. ft. Deonar offers strong connectivity via the Chembur railway station, Mumbai Monorail, and key expressways. Meanwhile, other notable real estate transactions in Mumbai include Zaheer Khan's INR 11 crore apartment purchase in Elphinstone Road and Rohit Sharma's Lower Parel property rental for INR 2.6 lakh per month.
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27 Mar 2025
Mumbai Metro Line 6, known as the Pink Line, is a 15.18 km elevated corridor connecting Swami Samarth Nagar in Andheri to Vikhroli (EEH), with 13 stations along key areas such as JVLR, SEEPZ, and Powai. Aiming to improve east-west connectivity, the project is set for completion this year, with daily ridership projected at 7.69 lakh by 2031. The line will intersect with Metro Lines 2A, 3, 4, and 7, and connect to Western and Central Railways at Jogeshwari and Kanjurmarg. With a budget of INR 6,716 crore, the Pink Line will significantly reduce congestion on JVLR, Western Express Highway, and SV Road.Read more
27 Mar 2025
Brookfield Group's subsidiary, Moon Holdings, has acquired a 6-acre land parcel in Mumbai's Powai through a structured deal with two Supreme Infrastructure Group companies for approximately INR 115 crore. The acquisition strengthens Brookfield's commercial real estate portfolio, which currently spans 55 million sq. ft. across India. Located near Supreme Business Park in Hiranandani Gardens, the land is part of a 30-acre parcel earmarked for road development by MMRDA. While Brookfield's subsidiary gains control of the asset, future development hinges on resolving encumbrances linked to the original landowner, positioning the deal as a strategic step in expanding its Mumbai office space footprint.
27 Mar 2025
The Maharashtra Housing and Area Development Authority (MHADA) has announced that its Chhatrapati Sambhajinagar Housing and Area Development Board will conduct its first Janata Darbar Din on March 28, 2025, to facilitate direct grievance redressal. The initiative, modeled after Lokshahi Din, aligns with Maharashtra's 100-day action plan, prioritizing citizen concerns under directives from the state's leadership. The forum, chaired by the Chief Officer of the Board, will be held at the Board's office on CBS Road, with written applications due by March 27. The move follows a similar initiative by MHADA's Nashik Board, which successfully conducted its first Janata Darbar Din earlier this month and will now hold the sessions regularly.
27 Mar 2025
Mumbai-based real estate investment platform Mt. K Kapital is preparing to launch its second fund with a target corpus of INR 2,500 crore, significantly larger than its first fund of INR 790 crore. The new fund will focus on financing housing projects in major cities like Delhi-NCR, Bengaluru, Pune, and Mumbai, collaborating with leading developers to drive sector growth. The firm's first fund, which raised capital from institutions such as SBI, SBI Life, and ICICI Bank, has already deployed 50% of its corpus into projects by Keystone Realtors under the 'Rustomjee' brand in the Mumbai Metropolitan Region. The second fund is expected to be launched by the end of the year.
26 Mar 2025
Shapoorji Pallonji
26 Mar 2025
The Special Investigation Team (SIT) has arrested a senior city survey officer and a clerk in Goregaon, Mumbai, for allegedly manipulating land records to enable illegal property transfers. The officials reportedly altered ownership details to benefit private parties, leading to financial losses and legal disputes for genuine owners. This case highlights the growing issue of land fraud in Mumbai, especially in high-demand areas like Goregaon. Similar scams have surfaced in Bengaluru and Hyderabad, prompting stricter government measures like digitization and blockchain-based land records to prevent corruption and ensure transparency in property transactions.
26 Mar 2025
CIDCO has allocated 7,850 flats under its mass housing scheme across five nodes Taloja, Kharghar, Kalamboli, Ghansoli, and Dronagiri in Navi Mumbai. The draw, aimed at economically weaker sections (EWS) and lower-income groups (LIG), was conducted for nearly 1.24 lakh applicants. The scheme offered 5,300 flats under the EWS category and 2,500 under the LIG category, priced between INR 18 lakh to INR 31 lakh. CIDCO also offered a 5% rebate on the base cost for immediate payment. Successful applicants must pay 25% within a month and the remaining balance as per a 7-year schedule. CIDCO has tied up with several banks and NBFCs to facilitate loans for the buyers.
26 Mar 2025
Aruna Babulal Varma, the wife of Omkar Realtors' promoter Babulal Varma, purchased a high-end apartment at Four Seasons Private Residences in Mumbai's upscale Worli locality for INR 68 crore, as revealed by property registration documents. The apartment spans 5,291 sq ft, featuring an additional 310 sq ft balcony and an exclusive area of 922 sq ft. The transaction was reportedly registered at a rate of INR 1.29 lakh per sq ft. Stamp duty of INR 3.42 crore and a registration fee of INR 30,000 were paid for the acquisition. The sale was made by Providence Land Private Limited. Worli continues to attract premium real estate deals, including a recent record-breaking sale by Macrotech Developers.
26 Mar 2025
Ravi Puravankara, founder and chairman of Puravankara Ltd, has acquired 12 commercial units in Business Park 2, Church Road, Marol, Andheri, Mumbai, for a total of INR 242 crore. The purchases were made through RockFort Estate Developer Pvt Ltd and registered on March 19, 2025. The units ranged from 6,749 to 9,998 square feet, with prices between INR 15.65 crore and INR 23.19 crore per unit. This acquisition aligns with Puravankara's investment strategy via its family office. The company continues to strengthen its portfolio, having recently secured prime land in Bengaluru and Thane for large-scale residential and mixed-use developments.
26 Mar 2025
The Mumbai Metropolitan Region Development Authority (MMRDA) has clarified that fewer than 4,000 trees will be felled for the proposed Metro 9 car depot at Uttan, Mira Bhayandar. This clarification follows earlier reports suggesting nearly 10,000 trees would be cut, which had sparked significant backlash from environmentalists and locals. MMRDA officials stated that the initial figures represented two separate proposals submitted to the Mira Bhayandar Municipal Corporation (MBMC), but only 3,716 trees would ultimately be axed, while the rest would be transplanted or spared. Despite this reduction, concerns remain about the ecological impact and the transparency of the process.
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