21 Nov 2024

Residents of Malabar Hill, supported by activists, are opposing the Brihanmumbai Municipal Corporation's (BMC) decision to lease a 2,432-square-metre plot near Ramabai Ambedkar Marg for private development. The plot, originally allocated for a public garden, currently hosts a disused BEST substation. Activists argue that converting the land for commercial use violates its green and heritage designation. BMC has issued a tender with a base price of INR 545 crore to fund infrastructure projects. Residents, led by activist Zoru Bathena, have submitted a letter urging BMC to restore the garden, emphasising the area's environmental and heritage significance over commercial interests.Read more

19 Nov 2024

HDFC Capital has partnered with Runwal Enterprises to develop residential projects for affordable and middle-income families across Mumbai. The collaboration involves an investment of over Rs 1,150 crore and is expected to generate a revenue potential of over USD 1 billion. HDFC Capital will provide a mix of equity and debt, supporting multiple projects in the Mumbai Metropolitan Region. This partnership aligns with HDFC Capital's focus on sustainable housing and innovation, while also contributing to the government's 'Housing for All' initiative.Read more

19 Nov 2024

Bollywood actor Shahid Kapoor has leased his lavish apartment in Mumbai's Three Sixty West, an exclusive development by Oberoi Realty in Worli. The 5,395 sq. ft. property, co-owned with wife Mira Kapoor, was acquired earlier this year for INR 58.6 crore. The five-year lease, registered this month, includes a tiered rental structure starting at INR 20.5 lakh per month, along with a 10-month rent-free period. Kapoor joins other Bollywood stars, like Kartik Aaryan and Ranveer Singh, in monetising premium properties amid rising demand for luxury rentals in Mumbai's prime locations.Read more

18 Nov 2024

Yatin Shah, co-founder of 360 ONE, has purchased a sea-view penthouse in Mumbai's upscale Worli area for over INR 158.51 crore. The luxury duplex, spanning 10,312 sq ft across two top floors, was bought from Prime Realty LLP. The deal, valued at nearly INR 1.54 lakh per sq ft, includes significant stamp duty charges. Mumbai's prime property market continues to perform well, driven by high demand across various segments. This sale adds to the city's record-setting property deals, attracting wealthy individuals from diverse industries.Read more

18 Nov 2024

Anthurium Developers, a subsidiary of Mahindra Lifespace Developers, has entered into a joint development agreement with GKW to develop a 37-acre land parcel in Bhandup, Mumbai. The project, which holds a development potential of around 3.6 million sq ft, will include a mixed-use development featuring residential, commercial, and retail spaces. The deal was facilitated by ANAROCK Capital, with Khaitan & Co acting as the legal advisor, marking a significant step in enhancing Mumbai's real estate landscape.Read more

15 Nov 2024

The Kabra family, promoters of the USD 1.25 billion RR Global conglomerate, recently purchased two luxury apartments in Mumbai's Oberoi Three Sixty West for a combined INR 198.17 crore. These sea-view residences on the 62nd floor include a 6,642 sq. ft. unit bought by Kritidevi and Shreegopal Kabra and a 7,167 sq. ft. apartment purchased by Rajesh and Monal Kabra. Other notable buyers in the same tower include leaders from the corporate world such as B K Goenka and Radhakishan Damani, adding to the project's prestige.Read more

14 Nov 2024

Rahul Krishna Vaidya, the Indian Idol Season 1 runner-up, recently acquired a luxurious apartment valued at INR 9 crores in Mumbai's sought-after Bandra West neighbourhood. His new residence is located within DLH Signature, a high-end project by DLH Group that features expansive 3 BHK, 4 BHK, and 5 BHK units across a 1.25-acre site. Bandra West has become a preferred location for celebrities, with stars like Sunil Shetty, Ranveer Singh, and sports personalities such as KL Rahul also investing in the area. Vaidya's purchase underscores Bandra appeal, combining prestige, connectivity, and high-profile neighbours.Read more

13 Nov 2024

Gaurav Trehan, CEO of KKR India, recently purchased a luxurious sea-view apartment at Morena House on Carmichael Road, Mumbai, from JSW Realty, marking one of India's highest-value residential transactions. The upscale property spans over 5,000 sq. ft., includes exclusive amenities, and reflects ongoing demand for premium real estate in Mumbai. This acquisition aligns with recent trends in Mumbai's high-end property market, which continues to see growth, especially in prime areas like South and Central Mumbai, popular among affluent buyers and corporate executives.Read more

13 Nov 2024

Renowned Marathi singer, music director, and filmmaker Avadhoot Gupte, along with his wife Girija, recently acquired a high-end apartment in Khar West, Mumbai for INR 7.75 crore. The property, located in Rustomjee Paramount, covers a carpet area of 126.14 sq. m. and includes three dedicated parking spaces. Known for its luxurious amenities and connectivity, Khar West has become a preferred destination for elite buyers, with nearby conveniences such as prestigious schools, premium retail outlets, and proximity to the international airport. The trend of celebrity investments in the Bandra area has been strong, as seen with recent purchases by other prominent figures like Ranveer Singh and Deepika Padukone. Gupte, celebrated for his contributions to the Marathi music and film industry, continues to expand his presence within Mumbai's elite property landscape.Read more

12 Nov 2024

The recently announced Haji Ali Improvement Plan aims to enhance accessibility and safety at Mumbai's iconic Haji Ali shrine. Managed by the Public Works Department (PWD), the first phase will focus on strengthening the existing pathway to the shrine, which usually becomes inaccessible during high tide. The pathway will be widened and elevated by 1.5 metres above high tide levels, with stonework and safety railings added to ensure stability and security. The project's first phase costs INR 20.10 crore, with a one-year completion timeline. Future phases, led by the BMC and MMRDA, will include beautification, parking improvements, and facilities for hawkers and visitors.Read more

12 Nov 2024

The Bombay High Court ruled that promoters of a Santacruz East housing society cannot proceed with additional construction based solely on a general clause in the Flat Purchase Agreement. Justice Sharmila Deshmukh emphasised that under the Maharashtra Ownership Flats Act (MOFA), 1963, explicit, informed consent from all flat buyers is mandatory for any construction beyond the original plan. The court dismissed the promoters' claim to retain Floor Space Index (FSI) rights, ruling they cannot bypass legal obligations to gain additional development rights. This judgement reinforces MOFA's provisions, ensuring transparency and protecting flat owners' rights in housing development projects.Read more

12 Nov 2024

In a long-running eviction dispute, the Bombay High Court upheld the orders of the Small Causes Court to return an 800 sq ft flat in Dadar to the landlord, the late Dilipkumar Purandare. The rent for the spacious flat was INR 396.75 monthly and the State did not pay rent arrears from 1 December 1989. The court ruled that while mathematical precision is not expected in regular rent payments, the State cannot avoid paying the monthly rent for years during the pendency of the eviction suit, as per the Maharashtra Rent Control Act. Rejecting the State's and Mumbai Police Commissioner's appeals, the High Court directed them to hand over vacant possession of the flat by 30 November, ending the 20-year-old battle over the government-occupied premises.Read more