21 Apr 2025

The Securities and Exchange Board of India (SEBI) has proposed increasing the investment limits for mutual funds in Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). This move aims to offer more investment options and enhance diversification within mutual fund schemes. SEBI has suggested raising the single issuer limit to 10% of a fund's net asset value (NAV) and increasing the overall exposure limit for equity and hybrid schemes to 20%. However, for debt schemes, the overall limit would remain at 10%. The regulator is seeking public feedback on this proposal until May 11, 2025.Read more

18 Apr 2025

CIDCO has demolished over 2,200 illegal structures across Navi Mumbai, Ulwe, Panvel, and Dronagiri in 2025, reclaiming 56 acres valued at INR 2,500 crore. The crackdown includes 547 enforcement actions and the demolition of 90 illegal flats in Kharghar alone. CIDCO has issued 2,100+ notices and warned buyers to verify documents, especially in high-growth areas like NAINA. The recovered land will aid CIDCO's smart city and infrastructure projects, including metro extensions and housing zones. Officials say this move is essential to ensure planned development and curb unauthorized sales that threaten Navi Mumbai's urban future.Read more

16 Apr 2025

Residents of Motilal Nagar in Goregaon have raised demands for larger flats and fairer compensation in the INR 3,600 crore redevelopment project awarded to Adani Properties. While MHADA has proposed 1,333 sq ft for residential and 987 sq ft for commercial units, locals argue this undervalues their share. At a recent meeting, redevelopment experts cited DCPR 2034 rules suggesting eligible families could claim up to 3,500 sq ft. With 143 acres of land at stake, the Motilal Nagar Vikas Samiti plans to negotiate for more transparency and equitable terms before signing any agreements with MHADA and the developer.Read more

16 Apr 2025

Mumbai is set to revamp its construction and demolition (C&D) waste management following the Centre's 2025 rules, effective from April 2026. Key to this shift is the Extended Producer Responsibility (EPR) framework, requiring developers and contractors to register, track waste, and meet recycling targets. With over 8,500 tons of C&D waste generated daily and current recycling capacity limited to 1,200 tons, BMC plans a third plant at Deonar. A new mobile app will track waste movement to curb illegal dumping. These reforms aim to enforce eco-friendly practices, boost recycling, and ensure traceability-marking a crucial step toward sustainable urban development in Mumbai.Read more

15 Apr 2025

CREDAI-MCHI's Ease of Doing Redevelopment 2.0 concluded on April 12 at Jio World Convention Centre with over 3,000 housing societies and 40+ developers participating. Key highlights included live consultations, expert workshops, and policy discussions focused on stalled projects, legal reforms, and FSI clarity. MHADA's Sanjeev Jaiswal emphasized the impact of Section 91A and 79A amendments. Industry leaders advocated trust, transparency, and realistic expectations. MahaRERA's new tracking portal was also unveiled to monitor redevelopment progress. The event marked a paradigm shift in Mumbai's approach to urban renewal, empowering societies with tools and partnerships to rejuvenate over 16,000 aging buildings.Read more

15 Apr 2025

The Maharashtra government is exploring the possibility of transforming the 25-acre reclaimed land at the Mulund dumping ground into a golf course. The state's Urban Development Department, at the Chief Minister's directive, has instructed the Mumbai Metropolitan Region Development Authority (MMRDA) to conduct a feasibility study. This move is being seen as part of a larger plan to repurpose vast plots of rehabilitated landfill sites into sustainable urban projects. While BMC will remain the landowner, MMRDA has been asked to draft a development plan, and discussions are underway to ensure that the project aligns with environmental and recreational goals.Read more

15 Apr 2025

The Maharashtra government is set to launch the 'Mumbai 1' unified travel card, enabling seamless access to Metro, Monorail, suburban trains, and buses across the Mumbai Metropolitan Region. Chief Minister Shri Devendra Fadnavis and Railway Minister Ashwini Vaishnaw announced that the system backend will be ready within a month. Vaishnaw highlighted ongoing railway projects in the state worth INR 1.73 lakh crore, including 238 new AC trains for Mumbai. Additionally, the Gondia-Ballarshah rail line received INR 4,019 crore in funding to improve Vidarbha's connectivity. The state also unveiled the Shivaji Maharaj Circuit Train to promote heritage tourism, aligning mobility upgrades with cultural preservation.Read more

15 Apr 2025

Families affected by the construction of the Sewri-Worli elevated connector, specifically those residing in Laxmi Niwas and Haji Noorani buildings at NM Joshi Marg, are set to receive financial compensation rather than resettlement tenements. The Mumbai Metropolitan Region Development Authority (MMRDA) has identified 83 families 60 from Laxmi Niwas and 23 from Haji Noorani for displacement due to the infrastructure project. In a recent meeting, the authority proposed monetary compensation ranging from INR 25 lakh to INR 1 crore, depending on the unit's size and location, due to a shortage of available tenements. This approach marks a shift from the conventional resettlement model.Read more

15 Apr 2025

In a landmark initiative, the Brihanmumbai Municipal Corporation (BMC) has begun groundwork to transform a 12-acre prime stretch of land in Worli, previously dotted with slum settlements, into a high-end waterfront enclave. The plan, a first of its kind, involves a collaborative effort with the Slum Rehabilitation Authority (SRA) to amalgamate government and private plots and construct a cluster of luxury skyscrapers. This redevelopment, spanning the scenic coastline off the arterial Coastal Road, has sparked controversy among slum dwellers and activists concerned about displacement. Despite this, the BMC envisions a sustainable and economically viable urban model.Read more

14 Apr 2025

The Mumbai Central Division of Western Railway has achieved a record-breaking revenue of INR 4,485 crore in FY 2024-25, its highest ever. Passenger services, freight operations, AC local trains, and station-based services such as parking and catering contributed significantly to this growth. With passenger revenue alone exceeding INR 3,782 crore, the performance reflects rising ridership, infrastructure upgrades, and digital ticketing initiatives. The strong financials signal sustained momentum in transport infrastructure efficiency and commercial viability in the Mumbai Metropolitan Region.Read more

11 Apr 2025

The Supreme Court dismissed a special leave petition filed by the Airports Authority of India (AAI) against a Bombay High Court judgment that permitted increased building heights in a slum rehabilitation project in Chembur, Mumbai. The High Court had directed AAI to issue a No Objection Certificate (NOC) for the height clearance after an appellate committee had already approved the plan. AAI argued it would face hardships without reversing the HC verdict, but the apex court refused to interfere. The project involves 30 towers, including rehabilitation and free-sale buildings, developed under a joint venture.Read more

11 Apr 2025

The Brihanmumbai Municipal Corporation (BMC) recorded its highest-ever capital expenditure of INR 36,900 crore in FY 2024-25, reflecting a 57% surge from the previous year's outlay of INR 23,520 crore. This sharp jump in spending was primarily directed toward big-ticket infrastructure projects like the Goregaon-Mulund Link Road (GMLR), the Mumbai Coastal Road, and hospital redevelopment. Simultaneously, BMC's revenue income rose to a record INR 43,847 crore, backed by strong growth in property tax and development charges. Despite the robust financials, the civic body's fixed deposits saw a slight decline due to planned drawdowns to support its infrastructure commitments.Read more

11 Apr 2025

The Maharashtra Government has agreed to act as guarantor for an INR 10,000 crore loan extended by Power Finance Corporation Ltd (PFCL) to fund infrastructure projects across the Mumbai Metropolitan Region (MMR). A Government Resolution issued earlier this week confirmed the cabinet’s nod to this financial arrangement for the 2024–25 fiscal. Although a new guarantee is being issued due to the previous financial year closing, it remains subject to further cabinet clearance. The Mumbai Metropolitan Region Development Authority (MMRDA), designated as the principal borrower, is responsible for monthly updates to the finance and urban development departments. Overall, the state has permitted MMRDA to borrow up to INR 60,000 crore, of which guarantees for INR 24,000 crore have already been extended.Read more