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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
11 Apr 2025
Months after the announcement of MMR as a global economic growth hub, the Maharashtra government has yet to assign implementing agencies for several key projects under this initiative. The Mumbai Metropolitan Region Development Authority (MMRDA) has identified 35 major infrastructure and redevelopment works to transform MMR into a USD 300 billion economy by 2050. These include logistics parks, transit-oriented development, tourism infrastructure, and slum rehabilitation. However, a lack of agency allocation is delaying implementation. Although the state has made some progress, gaps remain, especially in redeveloping 2.2 million slum dwellings and coordinating between central and state bodies.
11 Apr 2025
The Brihanmumbai Municipal Corporation (BMC) plans to issue a fresh eviction notice to 675 tenants of Century Mills in Worli, asking them to vacate within 15 days. This follows claims from tenants that they never received the original notice sent in February 2025. The move is linked to a redevelopment plan for the INR 660 crore plot, leased to Century Textiles and Industries Ltd. in 2005. There remains no clarity on tenant rehabilitation, despite past legal disputes and a 2022 Bombay High Court ruling supporting BMC's stand.
10 Apr 2025
The City and Industrial Development Corporation (CIDCO), acting as the Special Planning Authority (SPA) for Navi Mumbai, has withdrawn the allotment of 16 plots valued at around INR 2,000 crore. The decision targets developers and buyers who failed to initiate construction despite repeated deadline extensions and official warnings. These land parcels, meant for residential and commercial use, are located in prime nodes like Airoli, Nerul, Belapur, Kharghar, and Dronagiri. With Navi Mumbai's real estate prospects on the rise, CIDCO has indicated that further cancellations may follow, particularly for leased plots lying idle. Developer interest remains strong, as reflected by Godrej Properties Ltd's recent INR 717 crore lease deal for land in Kharghar.Read more
10 Apr 2025
Welspun One Logistics Parks has secured financial closure for its INR 2,300 crore mega logistics park at Jawaharlal Nehru Port Authority's Special Economic Zone (JNPA SEZ) in Navi Mumbai. The project, spanning 110 acres, aims to develop 3.2 million square feet of Grade-A warehousing space. This initiative is set to enhance India's infrastructure landscape, leveraging JNPA's strategic location to facilitate efficient logistics and bolster economic growth.
09 Apr 2025
The Commissioner of Metro Rail Safety has begun inspecting the 6-km BKC to Acharya Atre Chowk stretch of Mumbai Metro Line 3, marking the final step before commercial launch. This section, with six key stations including Dadar and Worli, is part of the 20-km Phase I corridor from Aarey to Acharya Atre Chowk. Safety checks cover structures, tracks, electrical systems, fire safety, and tunnel ventilation-including a complex tunnel under the Mithi River. Trial runs have been completed, but the launch date is yet to be announced. Once operational, the line will ease road traffic, boost connectivity in central Mumbai, and offer fares ranging from INR 10 to INR 60.Read more
09 Apr 2025
The BMC is seeking clearance to cut over 60,000 mangrove trees for the northward extension of Mumbai's Coastal Road project. This extension, covering approximately 9.6 km from Versova to Dahisar, is expected to ease traffic congestion in the western suburbs. While the BMC has pledged to replant mangroves and conduct compensatory afforestation, environmentalists have flagged serious concerns over ecological damage. The extension will connect major arterial roads like the Link Road, SV Road, and Western Express Highway, significantly reducing travel time for commuters in northwestern Mumbai.
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09 Apr 2025
The National Stock Exchange (NSE) has acquired an additional plot, C-82 in Bandra-Kurla Complex (BKC), Mumbai, for INR 758.09 crore from MMRDA to expand its operations. The newly allotted 5,500 sq. meter plot will support the construction of a 22,000 sq. meter built-up area. This move is part of NSE's broader plan to enhance its presence in Mumbai's financial hub and align with global regulatory standards. The expansion will include administrative offices and data centers, adding to the exchange's existing facilities at G Block, which houses NSE's headquarters and regulatory infrastructure.
09 Apr 2025
In a landmark ruling, the Maharashtra Real Estate Appellate Tribunal (MREAT) has directed Wadhwa Constructions to register its Trade Centre project in Mumbai's Bandra Kurla Complex (BKC) with MahaRERA, citing the absence of a full Occupation Certificate (OC) despite partial OCs granted in 2008. The tribunal overturned MahaRERA's earlier exemption and imposed a penalty of INR 5 lakh, ordering registration within 60 days. This decision could significantly impact approximately 700 buildings in Mumbai holding only partial OCs, reinforcing that such projects are considered ongoing under RERA provisions.
09 Apr 2025
The Bombay High Court has stayed the handover of a plot on St Paul Road in Bandra (W) to the century-old Salsette Catholic Cooperative Housing Society after a dispute emerged over the sale of flats to non-Roman Catholic Christians. Justice Amit Borkar noted the potential for irreversible prejudice to the petitioners, who are heirs of the original lessee. The society, formed in 1918, had terminated a 998-year lease after flats in the redeveloped building were sold to non-Catholics. The HC will now hear the matter fully, questioning the relevance of religious restrictions under cooperative laws amid changing jurisprudence on equality and secularism.
08 Apr 2025
The proposed passenger jetty and terminal near Radio Club in Colaba, backed by a INR 229 crore allocation from Maharashtra Deputy Chief Minister Shri Ajit Pawar, has triggered strong resistance from local residents. Concerns revolve around the potential destruction of the 500-metre-long Gateway promenade, a heritage precinct listed under Mumbai's Development Control Regulations. Locals fear the project will disrupt the environmental and historical fabric of the area and worsen traffic congestion. An online petition titled 'Save Colaba: Stop the Jetty Project' has gained traction, while legal experts stress the necessity of complying with heritage preservation norms.
08 Apr 2025
Nearly 40% of the six-lane Ulwe Coastal Road-spanning 6.7 km from Amra Marg to the Atal Setu (MTHL) junction at Shivajinagar-has been completed, with CIDCO pushing ahead on this key infrastructure project. The INR 1,591 crore road project, which includes an elevated airport link of 0.903 km, is integral to ensuring seamless connectivity to the upcoming Navi Mumbai International Airport. CIDCO aims to complete the work by September 2026, with significant financial allocations made in the current and upcoming fiscal years.
08 Apr 2025
The University of Mumbai (MU) has requested direct monetary compensation from the Mumbai Metropolitan Region Development Authority (MMRDA) for 8.5 acres of land it handed over in 2016 under a memorandum of understanding (MoU) aimed at developing its Kalina campus. Originally, MU was to receive transferable development rights (TDR) and a master plan in exchange. However, with delays in both the TDR issuance and planning progress, MU has now valued the land at around INR 1,200 crore and urged for compensation. MMRDA maintains that final action awaits MU's feedback and formal possession transfer.
08 Apr 2025
The City and Industrial Development Corporation (CIDCO) has presented its highest-ever annual budget of INR 14,130 crore for the financial year 2025-26, aiming to fast-track major infrastructure and urban development initiatives in Navi Mumbai. Key allocations include INR 6,868 crore for general development, INR 3,251 crore for housing, INR 1,120 crore for water supply, and INR 625 crore for metro projects. Additional funds have been earmarked for the Navi Mumbai International Airport, railway upgrades, Navi Mumbai Airport Influence Notified Area (NAINA), and road connectivity schemes.
08 Apr 2025
In a firm move against unauthorised construction, the Bombay High Court has directed the demolition of an illegal structure in Ulhasnagar, Thane district, warning that failure to enforce planning regulations could lead to anarchy. A division bench of the court criticised the inaction of civic authorities and called on the state government to enact laws holding all parties involved in such violations strictly accountable. The ruling came in response to a petition filed by a local resident, who alleged political interference had stalled enforcement action.
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