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23 Dec 2024
A major land scam in Malad (West) has led to the arrest of a retired City Survey Office employee, Devdas Jairam Jadhav, for forging land records. This scam, linked to unauthorized constructions on ancestral agricultural plots in a 'No Development Zone' under Coastal Regulation Zone (CRZ) guidelines, raises serious concerns about land management in Mumbai. The complainant, Vaibhav Thakur, discovered unauthorized developments on his family's land in 2016 and, upon investigation, found forged land maps and records. Despite early complaints, action was delayed until a high court-ordered special investigation team expedited the case. Authorities suspect broader collusion, including government officials. This scam highlights the urgent need for transparency, regulatory enforcement, and community vigilance in urban land management.Read more
20 Dec 2024
The 154-year-old Carnac Bridge in south Mumbai is undergoing extensive reconstruction, with the Brihanmumbai Municipal Corporation (BMC) recently installing a 516-metric-ton iron girder on the railway's south side. Originally built in 1867, the bridge was deemed unsafe in 2018, prompting this redevelopment. The BMC aims to complete the reconstruction by June 2025, following a meticulous timeline that includes approach road construction and load testing. The project, overseen by senior officials, hinges on timely approvals from Central Railway for railway blocks and related activities.Read more
20 Dec 2024
Work has started on the INR 2099-crore Kharghar-Turbhe Tunnel Link Road (KTLR) project, aimed at reducing travel time between Turbhe and Kharghar from 40 minutes to 10 minutes. Overseen by CIDCO, the project features a 1.8-km twin tunnel through Kharghar hill, a 3.4-km elevated viaduct, and a 1.5-km elevated road connecting Central Park to Taloja. Scheduled for completion by September 2028, the KTLR will ease congestion on the Sion-Panvel highway, improve east-west connectivity, and enhance access to Atal Setu and Navi Mumbai Airport. This project is set to boost regional infrastructure and support economic growth in Navi Mumbai.Read more
19 Dec 2024
Seema Singh, a member of Alkem Laboratories' promoter group, has purchased a sea-view luxury apartment in the Lodha Sea Face tower in Mumbai for INR 185 crore. The apartment spans 14,000 sq ft and is located on the 30th floor, with Singh also securing 9 parking spots. This marks the second-largest luxury deal in Mumbai this year, following a INR 270 crore transaction at Lodha Malabar. Singh, who recently sold a portion of her shares in Alkem Laboratories, paid a stamp duty of INR 9.25 crore. Property sales in Mumbai and other major cities have seen a significant rise in 2024, with the market expected to finish strong.Read more
19 Dec 2024
Bengaluru-based RMZ Corp, in partnership with the Canada Pension Plan Investment Board (CPPIB), plans to invest USD 750 million in redeveloping the iconic Kamal Amrohi Studio into a modern office complex named RMZ Nexus. Situated along Jogeshwari-Vikhroli Link Road (JVLR), the 10.94-acre project spans 3.74 million square feet across six towers. The project, scheduled for completion by 2027, will include direct metro integration and offer diverse amenities such as retail spaces, fine dining, wellness zones, and sky bars. RMZ aims to reshape Mumbai's commercial real estate landscape, underlining its commitment to India's growing economy.Read more
18 Dec 2024
The Bombay High Court ruled in favor of 38 tenants of the 80-year-old Kalyan Bhavan in Kalbadevi, granting them the right to redevelop the dilapidated cessed building after landlords failed to act within the six-month statutory period. Justices Ajay Gadkari and Kamal Khata set aside MHADA's earlier orders favoring the landlords and directed MHADA to issue a Letter of Intent (LoI) to the tenants. Despite landlords' claims of ongoing discussions, the court upheld tenants' rights under DCPR 2034 and the MHADA Act. This ruling reinforces tenant empowerment in redevelopment cases involving Mumbai's aging buildings.Read more
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17 Dec 2024
The Brihanmumbai Municipal Corporation (BMC) has issued intimation notices to 474 contractors and real estate firms for failing to comply with environmental management plans and 27-point dust mitigation guidelines. Amid a moderate Air Quality Index (AQI) of 144 recorded earlier this week, the BMC emphasised stricter directives for construction sites, including deadlines to install sprinklers and anti-smog guns. The transport department warned of action against uncovered debris transport. The Bombay High Court, expressing concern over the city's deteriorating air quality, urged authorities to detail measures being implemented under existing laws.Read more
17 Dec 2024
Agarwal Holdings has acquired a 19,589.22 sq ft land parcel in Juhu, Mumbai, from Shapoorji Pallonji Gwalior, part of the Shapoorji Pallonji Group, for INR 455 crore. The transaction was completed and registered earlier last week, with a stamp duty of INR 27.30 crore and registration charges of INR 30,000. This follows Agarwal Holdings' previous land acquisition in Juhu in September 2022, where it purchased parcels covering 42,721.92 sq ft and 32,496.21 sq ft, valued at INR 332.8 crore. Agarwal Holdings also provides services like loan management, credit analysis, investment advice, insurance brokerage, and financial transaction handling.Read more
16 Dec 2024
HDFC Bank has secured an entire 8-storey office building with a total area of 400,000 sq ft in the Mindspace Airoli West complex, Navi Mumbai, under a long-term lease agreement for 10 years. The bank will pay over INR 320 crore in rent, including a 15% escalation every three years, as per agreements with Mindspace Business Parks REIT. The building, previously part of a special economic zone, will be central to HDFC Bank's operational expansion. The Airoli region continues to experience high demand from data centres and financial services, further driving leasing activity.Read more
16 Dec 2024
Actor Shah Rukh Khan's iconic sea-facing residence, Mannat, located in Bandra, is set to expand with plans to add two more floors to the existing annexe. The actor's wife, Gauri Khan, submitted an application to the Maharashtra Coastal Zone Management Authority (MCZMA) in early November, seeking approval to add 616.02 square metres of space. This request follows a 2019 amendment to Coastal Regulation Zone (CRZ) rules, enabling increased construction in the area. The project, estimated to cost INR 25 crore, is awaiting approval from a committee headed by Pravin Darade. The expansion will add a seventh and eighth floor to the six-storey structure, which currently features two basements and a ground floor.Read more
13 Dec 2024
Navi Mumbai Municipal Corporation (NMMC) recently conducted demolition operations on unauthorized constructions in Nerul and Ghansoli following non-compliance with issued notices. The first demolition targeted a property in Nerul, involving a large team of workers and equipment. In Ghansoli, the construction of additional floors without approval was also demolished, with a penalty of INR 50,000 imposed. NMMC continues to crack down on illegal building activities in the region.Read more
13 Dec 2024
The Mumbai Metro Rail Corporation (MMRC) is constructing a new pedestrian crossing across the Jogeshwari-Vikhroli Link Road (JVLR) to improve access to the Aarey-JVLR Metro station on Line 3. Phase I of the Metro 3 corridor, connecting Aarey to BKC, opened this month with an average ridership of 22,000 daily. Safety concerns arose due to a lack of pedestrian pathways, prompting MMRC to install blinker signals, rumble strips, and nearby bus stops for last-mile connectivity. Track laying for the 21 km BKC-Cuffe Parade Phase II section is complete, with 88% overall project progress. Metro 3, once fully operational, will enhance Mumbai's connectivity through vital interchanges and improved accessibility.Read more
12 Dec 2024
The BMC's environment department has issued an SOP for sub-engineers to monitor air pollution control measures at construction sites. Contractors must submit Environmental Management Plans (EMP) detailing pollution sources and mitigation strategies. Ward-level sub-engineers from the mechanical and electrical engineering department will inspect sites, ensure compliance, impose penalties for violations, and collaborate with the SWM department to address dust and waste burning issues. Non-compliance may lead to show cause notices or stop-work orders. Monitoring squads, disrupted due to elections, will soon resume operations, ensuring stricter enforcement of air quality regulations at infrastructure project sites.Read more
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