SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Location : Navi Mumbai

Navi Mumbai civic body intensifies demolition drive against unauthorised construction in Nerul

29 Mar 2026

Navi Mumbai Municipal Corporation has undertaken demolition action against an unauthorised structure in the Nerul division after the property owner failed to comply with a statutory notice issued under Section 54 of the Maharashtra Regional and Town Planning Act, 1966. The construction, located in Nerul village, was found to be ongoing despite prior enforcement warnings. The action was executed under the direction of Municipal Commissioner Dr Kailas Shinde, with supervision from senior officials including Additional Commissioner Dr Rahul Gethe and Deputy Commissioner (Encroachment) Dr Kailas Gaikwad. The operation involved municipal staff, labourers and mechanised equipment, supported by police personnel. The civic body has stated that enforcement drives will continue to address unauthorised developments across its jurisdiction.Read more

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Navi Mumbai civic body undertakes demolition action against unauthorised construction in Koparkhairane

28 Mar 2026

Navi Mumbai Municipal Corporation carried out demolition action against an unauthorised structure in the Koparkhairane division after the concerned party failed to respond to statutory notices. The action followed a notice issued under Section 54 of the Maharashtra Regional and Town Planning Act, 1966, served earlier this month. The partial demolition was conducted under the direction of Municipal Commissioner Dr Kailas Shinde, with supervision from senior civic officials. The enforcement drive involved municipal staff, police presence and the use of mechanised equipment. The civic body has indicated that similar enforcement actions will continue across its jurisdiction to address unauthorised constructions and ensure compliance with planning regulations.Read more

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Navi Mumbai civic body's property tax amnesty scheme sees strong response with INR 20 crore collected in nine days

28 Mar 2026

Navi Mumbai Municipal Corporation's property tax amnesty scheme has recorded a strong response, with 5,744 defaulters clearing dues worth INR 20.15 crore within nine days of its launch. Introduced earlier this month, the scheme offers a 50 per cent waiver on late payment penalties for those settling outstanding dues in a lump sum. The initiative, valid until the end of March, covers residential, commercial, industrial, and vacant land properties. A significant share of payments has been made through digital channels, indicating growing adoption of online tax services. The civic body has extended operational hours, including on public holidays, to facilitate higher collections and encourage compliance.Read more

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Navi Mumbai civic body initiates recovery drive against property tax defaulters with attachment and auction action

28 Mar 2026

The Navi Mumbai Municipal Corporation (NMMC) has intensified enforcement against property tax defaulters, directing officials to initiate attachment and auction proceedings for unpaid dues if not cleared by the end of the current financial year. Notices have been issued to over 3,600 defaulters across residential, non-residential, industrial and vacant land categories. The civic body has also introduced an amnesty scheme offering a 50 per cent waiver on late payment charges for those clearing dues in full within the stipulated deadline. With property tax forming a key revenue source, the administration has accelerated recovery efforts through both enforcement and incentive-based measures.Read more

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Navi Mumbai flamingo lakes face rising pollution concerns after wetland warning by environmentalists

26 Mar 2026

Environmentalists in Navi Mumbai have raised serious concerns after laboratory tests indicated that three major flamingo lakes DPS Lake, NRI Lake, and T S Chanakya Lake have shown signs of high pollution and ecological imbalance. These wetlands, which support migratory flamingos and other biodiversity, appear to be affected by stagnant water, disrupted tidal flow, and contamination. Activists have highlighted weak regulatory oversight and ongoing urban pressures as key factors contributing to the situation, warning that continued degradation may further impact the region's fragile wetland ecosystem and its ecological functions.Read more

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Navi Mumbai civic body appointed mentor city for five Maharashtra towns under Swachh Survekshan initiative

21 Mar 2026

The Navi Mumbai Municipal Corporation has been designated as a mentor city under the Swachh Survekshan Swachh Shehar Jodi initiative, tasked with guiding five urban local bodies in Maharashtra Kannad, Jintur, Kej, Lonar, and Malkapur. The initiative, led by the central government under the Swachh Bharat Mission, pairs high-performing cities with those seeking improvements in sanitation and waste management. Navi Mumbai, part of the Super Swachh League, has already conducted site visits to assess sanitation systems and recommend improvements across waste segregation, collection, disposal, and public hygiene infrastructure. The programme also includes knowledge-sharing on citizen engagement and digital reporting systems, aimed at enhancing overall urban sanitation standards in participating cities.Read more

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Navi Mumbai civic body keeps property tax centres open on weekends and holidays to boost collections before fiscal year-end

21 Mar 2026

The Navi Mumbai Municipal Corporation (NMMC) has introduced extended payment facilities for property taxpayers by keeping tax collection centres open on weekends and public holidays until the end of the financial year. The move aims to help property owners clear dues before the March-end deadline and support the ongoing property tax collection drive. Civic officials stated that all collection counters at the municipal headquarters and eight ward offices will operate during weekends and notified holidays, offering greater convenience for working residents. The civic body has also encouraged citizens to utilise digital payment options through mobile applications, QR code scanning and online banking platforms. Authorities added that property owners can also benefit from the ongoing Abhay scheme, which offers a concession on penalty charges for overdue tax payments.Read more

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Navi Mumbai civic body may remove over 70 trees and road divider for planned F4 race in Nerul

19 Mar 2026

Preparations for a proposed Formula-4 (F4) street race in Nerul, Navi Mumbai, have drawn objections from environmental activists who claim that more than 70 trees may be cut or relocated to facilitate the event. The Navi Mumbai Municipal Corporation is expected to spend around INR 28 crore on hosting the race. Activists have raised concerns over the removal of trees from a road divider and the possible use of a nearby playground for event infrastructure. They have also warned about traffic disruptions and environmental impact, while civic authorities continue planning the event scheduled for later this year.Read more

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Navi Mumbai Municipal Corporation removes unauthorised construction in Airoli following enforcement action under MRTP Act

15 Mar 2026

The Navi Mumbai Municipal Corporation (NMMC) has carried out an anti-encroachment operation in Airoli to remove unauthorised construction undertaken without approval under the Maharashtra Regional and Town Planning (MRTP) Act, 1966. The action was taken after the property owner failed to comply with a notice issued by the civic body in November 2023 directing the removal of the illegal structure. The demolition was conducted at a property located in Deshmukhwadi, Sector 1, Airoli, under the jurisdiction of the G Ward office. The operation was carried out under the direction of Municipal Commissioner Dr Kailas Shinde and senior civic officials overseeing the encroachment department. Municipal staff, labour teams and police personnel were deployed to execute the partial demolition of the structure as part of ongoing enforcement measures against unauthorised construction within the municipal limits.Read more

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Navi Mumbai Municipal Corporation to Intensify Property Tax Recovery Drive Ahead of Financial Year-End

15 Mar 2026

The Navi Mumbai Municipal Corporation is set to intensify efforts to recover outstanding property tax dues across Navi Mumbai, with a special focus on maximising collections before the end of the financial year. Property tax remains the civic body's largest source of revenue and plays a crucial role in funding public infrastructure and civic services in the city. During the financial year 2025-26, the corporation has collected approximately INR 665 crore so far. To accelerate recovery, Municipal Commissioner Dr Kailas Shinde has directed officials to undertake intensified field-level collection drives and initiate strict action against major defaulters. The civic administration has also prepared a list of property owners with significant arrears and warned that enforcement measures, including property attachment, may be taken if dues remain unpaid.Read more

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Aurum PropTech to sell two Millennium Business Park buildings in Navi Mumbai for INR 112 crore as part of AI-focused strategy

15 Mar 2026

Aurum PropTech Limited has approved the sale of two commercial assets Buildings Q5 and Q6 at Millennium Business Park in Navi Mumbai for a total consideration of INR 112 crore, as the company shifts capital towards artificial intelligence-driven proptech platforms. The transaction, cleared by the company's board earlier this week, values the properties around 15% above the valuation assessed by independent valuers. The assets have an approximate book value of INR 27 crore, and the sale is expected to generate a significant gain for the company while strengthening its balance sheet. Aurum PropTech said the proceeds will be used to prepay a Lease Rental Discounting facility of INR 56 crore and fund investments in AI capabilities across rental housing, property distribution and capital market platforms. The transaction is expected to be completed by June 30, 2026, subject to regulatory approvals.Read more

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Navi Mumbai civic body announces property tax amnesty scheme with 50% penalty waiver

15 Mar 2026

Navi Mumbai Municipal Corporation has announced a property tax amnesty scheme to encourage defaulters to clear outstanding dues. Under the initiative, property owners who pay their pending property tax in a lump sum between March 10 and March 31, 2026, will receive a 50% waiver on the late payment penalty. The scheme applies to residential, non-residential, industrial properties and vacant land within Navi Mumbai. Civic officials said the initiative aims to support taxpayers while improving revenue collection for civic services such as roads, water supply, sanitation, healthcare and education. Property owners can make payments online through the civic body's website and mobile application or at designated collection centres.Read more

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Navi Mumbai civic body advances Sanpada underpass project on Palm Beach Road to ease traffic congestion while planning large-scale tree transplantation

14 Mar 2026

The Navi Mumbai Municipal Corporation (NMMC) is progressing with the construction of a planned underpass at Sector 19, Sanpada, along Palm Beach Road to ease traffic congestion and improve connectivity within the Sanpada and Juinagar areas. The project has been proposed as an alternative access route to reduce dependence on the existing entry point near Moraj Circle and to manage future traffic pressure arising from infrastructure developments including the Navi Mumbai International Airport, JNPT expansion and the planned Third Mumbai. As part of the project's environmental management plan, the civic body has identified 808 trees in the project area, of which 368 will be preserved in their existing locations. A further 329 trees will be transplanted scientifically within the same locality, while 111 trees are proposed to be removed after due regulatory procedures and public consultations.Read more

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Navi Mumbai Municipal Corporation Demolishes 213 Unauthorised Huts Beneath High-Tension Lines in Vashi Gaon

14 Mar 2026

The Navi Mumbai Municipal Corporation has carried out a major demolition drive to remove unauthorised hutments constructed beneath high-tension electricity lines in Vashi Gaon. Acting on instructions from Municipal Commissioner Dr Kailas Shinde, the civic body's encroachment department cleared 213 illegal huts built on land belonging to the municipal corporation and CIDCO. The operation was conducted under the supervision of senior officials with support from police personnel, security staff and demolition equipment. Authorities said the structures posed serious safety risks due to their location directly beneath high-voltage transmission lines. The civic administration has stated that similar enforcement actions will continue as part of its efforts to remove unauthorised encroachments across Navi Mumbai.Read more

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Navi Mumbai International Airport to partner Airport 360 Expo 2026 as premium airport partner

12 Mar 2026

Navi Mumbai International Airport Ltd (NMIAL), a joint venture between the Adani Group and City and Industrial Development Corporation (CIDCO), has been named the premium airport partner for Airport 360 Expo 2026, scheduled to take place in Mumbai on April 23-24. The aviation industry event will bring together airport operators, policymakers, infrastructure planners and technology providers to discuss airport infrastructure, operations and emerging technologies. Through this partnership, NMIAL is expected to present insights from the development of Navi Mumbai International Airport and participate in discussions on passenger experience, operational efficiency and sustainable airport infrastructure in India.Read more

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Navi Mumbai office rentals 21% lower than major cities, boosting GCC demand: CRE Matrix

10 Mar 2026

CRE Matrix said office rentals in Navi Mumbai are about 21% lower than the average rentals in major Tier-1 cities, making the market increasingly attractive for multinational companies and global capability centres (GCCs). According to the firm's report, Navi Mumbai Rising: A Comprehensive Perspective on India's Next Commercial Real Estate Hub, average office rents in the city are around INR 70 per sq ft per month. The report highlights strong growth in the region's commercial real estate sector, supported by infrastructure development, competitive costs and rising occupier demand. Navi Mumbai currently has around 32.7 million sq ft of prime office stock with over 430 occupiers, while an additional 23.5 million sq ft of office space is expected to be developed by 2031.Read more

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NMMC collects INR 650 crore in property tax; 62% payments made through digital modes

05 Mar 2026

The Navi Mumbai Municipal Corporation (NMMC) has collected around INR 650 crore in property tax so far this financial year, with nearly 62% of taxpayers choosing digital payment methods. Out of about 3.6 lakh registered properties, close to 1.83 lakh property owners have paid their dues. The civic body is working to achieve its annual target of INR 1,000 crore by intensifying recovery measures, issuing notices to defaulters, and attaching properties with large arrears. Enforcement action has already led to recovery of INR 39 crore.Read more

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Maharashtra orders high-level probe into Navi Mumbai housing fraud; CIDCO under scrutiny

03 Mar 2026

The Maharashtra government has ordered a high-level inquiry into alleged housing irregularities in Navi Mumbai involving the City and Industrial Development Corporation (CIDCO). The probe will examine claims that the mandatory 20 per cent affordable housing component in certain projects was not implemented and that over 2,000 affordable units were not constructed. Questions have also been raised over building permissions issued in Nerul, where approval authority lies with the Navi Mumbai Municipal Corporation. Officials found responsible for procedural lapses may face action after the panel submits its findings.Read more

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SBI leases 1.35 lakh sq ft office space in Navi Mumbai for global IT centre

03 Mar 2026

The State Bank of India has leased around 1.35 lakh sq ft of office space in Airoli, Navi Mumbai, for its global IT operations. The space, located at Newa Bhakti Knowledge City, is spread across multiple floors and has been taken at a monthly rent of about INR 1.68 crore at INR 125.05 per sq ft. The five-year lease includes a security deposit of over INR 10 crore and a 15 percent rent escalation clause. The transaction reflects steady demand for large Grade-A office spaces in Navi Mumbai.Read more

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Navi Mumbai civic body removes unauthorised construction in Nerul following expiry of statutory notice

01 Mar 2026

The Navi Mumbai Municipal Corporation has carried out a demolition drive against unauthorised construction in the Nerul division, intensifying enforcement under the Maharashtra Regional and Town Planning Act, 1966. The action was undertaken on 23 February 2026 after the concerned property owner failed to comply with a notice issued under Section 54 of the Act within the stipulated period. The structure, located in Sector 6, Sarsole village, Nerul, was found to be under illegal construction despite prior intimation from the civic authorities. The demolition was executed by the encroachment department with mechanical support and police protection, under the supervision of senior municipal officials. The civic body has stated that similar anti-encroachment actions will continue across its jurisdiction to curb unauthorised development.Read more

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