14 Dec 2023

The Maharashtra State Road Development Corporation (MSRDC) has issued tenders for leasing 50 acres near Amane in Thane to establish an international cricket stadium and coaching academy along the Mumbai-Nagpur Samruddhi Expressway. The Mumbai Cricket Association (MCA) has expressed interest, with stringent financial and expertise criteria to be met. The 99-year lease aligns with MCA's plans for new grounds in Thane and Navi Mumbai, addressing the lack of cricket coaching facilities in Thane compared to Mumbai. Additionally, MSRDC is involved in land pooling initiatives at Igatpuri, contributing to infrastructure enhancement and traffic flow improvements on the Mumbai-Nashik highway.Read more

08 Dec 2023

Oberoi Realty has concluded the acquisition of approximately 6.4 acres in Thane for Rs 196 crore, following a memorandum of understanding with NRB Bearings. This strategic move aligns with Oberoi Realty's existing land holdings and development plans near Raymond Group's property. Recently entering the Delhi-NCR market with a Rs 597 crore land purchase in Gurugram, the company launched the upscale Forestville project in Thane. Despite a 17 percent decline in Q2 sale bookings, Oberoi Realty reported a robust 43 percent rise in consolidated net profit to Rs 456.76 crore, reinforcing its position as a leading luxury real estate developer.Read more

24 Nov 2023

Oberoi Realty has unveiled Forestville, an expansive residential project spanning 18 acres in Thane's Kolshet area near Mumbai. Comprising five towers, the development offers 3 BHK apartments starting at 1,090 square feet and a base price of Rs 1.87 crore. Inspired by biophilic design principles, Forestville aims to seamlessly integrate nature with urban living, incorporating green spaces, water features, and eco-conscious design. Oberoi Realty strategically focuses on the 3 BHK segment, aligning with market demands in Kolshet. Forestville reflects Oberoi Realty's commitment to innovation and meeting the evolving preferences of discerning homebuyers.Read more

16 Nov 2023

The recent disclosure that over 60% of Thane's total property tax collections come from just three affluent wards—Majiwada, Vartak Nagar, and Naupada-Kopri—raises concerns about the city's economic disparities. The underdeveloped suburbs like Mumbra, Diva, and Wagle Estate contribute the least, with experts attributing delayed payments to municipal neglect in these areas. Residents in both affluent and neglected zones face various challenges, from traffic congestion to poor infrastructure. The situation calls for a re-evaluation of municipal priorities to ensure equitable development across all parts of the city.Read more

15 Nov 2023

Phoenix Mills, a leading retail mall developer and operator in India, has acquired 11 acres of land in Thane from Huhtamaki's Indian arm for Rs 429 crores. The acquisition, facilitated by Phoenix Mills' subsidiary Sparkle Two Mall Developers, is part of a strategic move for the development of a commercial project with office spaces in the Majiwada locality. Phoenix Mills has reported a 36% increase in net profit and a 34% growth in income from operations in the fiscal year 2023-24. The company is actively expanding retail destinations across major Indian cities and has a growing commercial office portfolio.Read more

14 Nov 2023

Pokhran Road, situated in Thane district, is a burgeoning locale in Mumbai's Metropolitan Region, offering a harmonious mix of residential and commercial developments. The area, with diverse housing options and ongoing infrastructure enhancements, attracted 21 transactions in October. Tata Housing Serein led with 8 transactions, while Raymond The Address showcased the highest-priced flat at Rs. 3.15 Crores. The carpet area ranged from 335 to 1,396 square feet, reflecting varied preferences. With an average rate per square foot of Rs. 20,000, Pokhran Road signifies steady growth and maturation, making it a promising hub in Mumbai's real estate landscape.Read more

26 Oct 2023

The Rustomjee Group, in partnership with Keppel, has introduced the magnificent La Vie at Rustomjee Uptown Urbania. This grand project, spanning 8.5 acres within a vast township, features eight independent towers, each rising to 55 stories, designed by acclaimed architect Hafeez Contractor. La Vie offers a variety of residential options, with Tower B providing 2-bedroom apartments, and Tower C offering spacious 3-bedroom homes. The location in Thane offers easy access to major business hubs, making it a preferred choice for urban convenience and natural beauty. La Vie redefines modern living, community harmony, and the promise of a brighter future.Read more

26 Oct 2023

The Maharashtra state cabinet has approved various initiatives, including Rs. 25 crore for a cluster redevelopment project in Thane, focusing on providing affordable housing in underprivileged areas. The funds were allocated from the Mahatma Phule Backward Class Development Corporation, and the redevelopment will be executed by a subsidiary of the corporation. Additionally, the cabinet sanctioned government banking transactions through the state cooperative bank, aimed at supporting the cooperative sector. The cabinet also greenlit a power project in Koradi, and extended a scheme to pay interest on loans for cooperative spinning mills. Other amendments and initiatives were also passed.Read more

25 Oct 2023

The Kopri rail overbridge (ROB) in Mumbai, intended to ease traffic congestion in Thane, has deteriorated in less than nine months since its inauguration. Cracks, uneven patches, and potholes have appeared, revealing subpar construction by the Mumbai Metropolitan Region Development Authority (MMRDA) and Central Railway authorities. The bridge, which cost over 250 crore to build, has experienced recurring issues despite repair work in July. Concerns have been raised about construction quality and the use of the Ultra-Thin White Topping (UTWT) method, which may not provide the durability required for long-lasting infrastructure. The focus on contractor-led projects over engineer-led initiatives has also been criticised.Read more

17 Oct 2023

Residents of Kopri, Thane East, are vehemently opposing the construction of a three-story building at a crematorium, claiming it encroaches on the space used for children's final rites. Despite authorities insisting on renovation, the residents, demanding control be handed over to Thane Municipal Corporation, cite inadequate facilities on the grounds. Allegedly, a previous attempt at constructing a prayer hall halted in 2013 due to protests. Concerns include security lapses, with instances of guards being drunk and dogs interfering. TMC asserts the ongoing work aims to enhance cremation efficiency with additional pyres, not build a hall.Read more

28 Sep 2023

Thane West, located in Maharashtra's Thane district, has become a thriving and accessible hub within the Mumbai Metropolitan Region. This area boasts diverse housing options, infrastructure development, green spaces, and proximity to key business centres like BKC and Powai, making it a sought-after destination for both living and business. The real estate sector in Thane West has flourished, with 172 transactions in just one week, involving various properties, and several prominent builders contributing to its growth. Affordability, smaller carpet areas, and ongoing infrastructure development have made it attractive to homebuyers, reflected in a competitive average rate of Rs. 16,414 per square foot.Read more

28 Sep 2023

Seven luxurious properties in Yeoor, Mumbai, are currently being demolished by the Thane Municipal Corporation after it was discovered that they were built without the required civic approval within a "eco-sensitive zone." Yogesh Mundhra, an activist, expressed concern about their effect on the migration of wildlife. Deputy Lokayukta Sanjay Bhatia deemed two homes to be illegal and ordered their demolition. There are planned additional operations against the remaining bungalows. These illegal buildings belonged to the families of past officials and elected officials. The incident emphasizes how crucial it is to follow building codes, especially in environmentally sensitive areas, in order to protect the environment and wildlife habitats.Read more

28 Sep 2023

Dalmia Nisus Finance Investment Managers has successfully exited its investment in two prestigious projects by Puranik Builders Limited, achieving an impressive return of over 25 percent IRR in just nine months. The Rs 125 crore investment was executed through the Real Estate Credit Opportunities Fund-I and accelerated the development and sales of Rumah Bali and Tokyo Bay in Thane. This achievement underscores Dalmia Nisus' prowess as an alternative asset manager within the Nisus Finance Group, focusing on structured credit and mezzanine investments in India's residential sector. The fund is set to exit all investments in the next 12 months.Read more

26 Sep 2023

Thane's Civic Commissioner, Abhijit Bangar, has issued a strong warning to municipal staff and a private electricity provider regarding their accountability in facilitating water and power connections to illegal construction projects in Kalwa, Mumbra, and Diva. This move comes in response to discussions surrounding the issue of illegal constructions in Thane, particularly in its suburbs. The warning emphasizes adherence to state regulations and court directives that prohibit essential facilities for unauthorized structures. The civic administration has cautioned its staff and alerted the Torrent power company about their responsibilities in this regard, aiming to prevent a recurrence of incidents like the Lucky compound incident.Read more

13 Sep 2023

In a devastating incident in Balkum, Thane, six construction workers were killed and one critically injured when an elevator collapsed from the 13th floor of a 40-storey building. The project, managed by Dhruva Woollen Mills Pvt Ltd, is under scrutiny as investigations begin. The company stated that the elevator underwent regular maintenance, with the last check on August 23. Thane's municipal commissioner confirmed an FIR against the builder and emphasized the ongoing investigation. The incident serves as a stark reminder of the importance of safety measures in construction zones.Read more

13 Sep 2023

A 22-year-old man, Akash Jadhav, tragically lost his life after a pothole accident in Thane, Maharashtra. The Thane rural police have registered an offence against Jijau Construction Road Build Private Ltd, the company tasked with the road's upkeep. The incident highlights the firm's alleged negligence, with the road being a hotspot for accidents due to multiple potholes. In a separate event in Nashik, an old house's collapse claimed two lives, emphasising the urgent need for regular infrastructure maintenance.Read more

22 Aug 2023

The Union Housing Ministry and the International Council for Local Environmental Initiatives, South Asia, conducted an energy consumption analysis in 15 cities, including Thane. Thane's high greenhouse gas emissions, driven by residential buildings and public transportation, lead to extreme weather events. Excessive energy usage, stemming from household appliances, was highlighted. Proposed solutions involve adopting rooftop solar panels, transitioning to electric buses and solar-powered vehicles, and optimizing construction practices. The report suggests rainwater harvesting, eco-friendly construction, and enforcing emission regulations. Curbing emissions can bolster Thane's resilience against natural disasters and create a safer urban environment.Read more

07 Aug 2023

Raymond Realty, the real estate arm of Raymond Group, has launched its fourth project, "Address by GS 2.0," in Thane. This move signifies the company's growing success in the real estate market. The project's launch follows the accomplishment of its previous ventures, including the prompt delivery of the initial phase of TenX Habitat. The new project promises luxurious amenities and a Roman-inspired landscaped podium, reflecting the company's dedication to offering exceptional living experiences.Read more

27 Jun 2023

TMC collected Rs 200 crore in property tax, exceeding 25 percent of the FY 2023–24 target in just 66 days. Majiwada Manpada ward took the lead with 33 percent of the total tax, while Vartak Nagar and Naupada-Kopri followed closely behind. Commissioner Abhijit Bangar credited timely billing, rebates, and convenient payment methods. With a recovery target of Rs 900 crore, they aim to reach Rs 1,000 crore. The deadline was extended to June 30. Timely tax bills, SMS alerts, and online payment facilities improve accessibility. Concerns were raised about Majiwada-Manpada's needs. The corporation remains dedicated to serving the community with innovation and support.Read more

26 Jun 2023

The Thane Zilla Parishad in India is working on mapping and creating a digital database of its 9500 properties to optimize their usage, prevent encroachment, and resolve legal disputes. This initiative involves using drones and geo-tagging to digitally map government-owned properties such as schools, offices, and community centers. All relevant information, including ownership details and encroachment history, will be accessible online. The aim is to enhance decision-making and resource allocation, protect assets, and make efficient use of government lands for new projects.Read more