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The MMRDA is fast-tracking suburban rail and metro connectivity with new foot overbridges (FOBs). Four key FOBs will link suburban stations at Pant Nagar, Vikhroli, and Bhandup to Metro Lines 4 and 4A, and connect Metro Lines 3 and 6 at Aarey. Additionally, MMRDA plans FOBs linking Ram Mandir station to Goregaon (East) Metro Line 7, Goregaon (East) to Nirlon Knowledge Park, and Aarey Metro Station to Oberoi Mall. In March, an FOB opened connecting Oberoi Skycity Mall with Devipada Metro station. In Vile Parle, where Metro Line 2B is under construction, Walking Project and MMRDA are enhancing connectivity between metro, railway stations, and nearby colleges.
Deputy CM Eknath Shinde has instructed officials to appoint a committee to identify land and draft terms for offering ownership homes to Bandra government colony residents. Of the colony’s 125 acres, 90 acres house 5,000 government quarters, and 35 acres are encroached. The move follows the Supreme Court’s directive to expedite the transfer of 30.16 acres for a Bombay High Court complex.
Mumbai University has demanded direct monetary compensation from MMRDA for 8.5 acres of land handed over in 2016 under an MoU for Kalina campus development. Valued at approx. INR 1,200 crore, the land was to be exchanged for TDR and a campus master plan, neither of which have materialised. MMRDA claims it shared detailed master plans thrice between 2021 and 2025, but MU hasn’t selected one.
Avenue Supermarts added 28 DMart stores in Q4 FY25, marking its highest quarterly expansion in four years and totalling 50 new outlets for the year. Despite a 16.6% revenue rise to INR 57,789 crore in FY25, analysts flagged pressures from lower sales throughput, unfavourable product mix, and q-commerce competition.
BMC imposed 200% property tax on 3,343 properties for unauthorised construction between April 2024 and March 2025, collecting INR 12 crore of the INR 392.28 crore penalty. Violations were highest in H West ward. Action was taken under Section 152(A) of the Mumbai Municipal Corporation Act, 1888.
Japan’s Sumitomo and a Brookfield-led Schloss consortium won bids for three Bandra Kurla Complex plots leased by MMRDA, generating over INR 3,839 crore. Sumitomo secured plots C-13 and C-19 with bids 39.61% and 40.20% above reserve. The third, Plot C-80, went to Schloss-led bidders at a 12.34% premium.
Half of Maharashtra’s 92,247-acre Waqf land—across 23,566 properties—is encroached, with Marathwada alone accounting for 60%. The state has issued a GIS mapping tender under the Waqf (Amendment) Bill, 2025. Only 21 of 1,088 anti-encroachment orders have been executed as of now.
Delhivery will acquire rival Ecom Express for up to INR 1,407 crore, making it a subsidiary. The deal, pending CCI approval, is expected to close within six months. Ecom Express reported INR 2,607 crore revenue in FY24. Delhivery aims to enhance operations and scale through this strategic acquisition.
The proposed INR 229 crore Colaba passenger jetty near Radio Club faces opposition from locals over threats to the 500-metre Gateway promenade, part of a protected heritage precinct. Residents cite heritage and environmental concerns, with legal issues under DCR Rules 52 and 67. An online petition and calls for a car-free zone are gaining traction.
Mah-Hill Properties Pvt Ltd, an Adani Group subsidiary, purchased 48,491 sq ft of land in Malabar Hill’s Carmichael Road area, from Behram Nowrosji Gamadia for INR 170 crore. Registered on 27 March 2025, the legacy asset includes a 257 sq m structure. A stamp duty of INR 10.46 crore and INR 30,000 registration fee were paid.
NCLT Mumbai has approved a INR 391 crore resolution plan for Neptune Developers, submitted by Shree Naman Developers with 85.35% CoC support. Over 3,500 homebuyers will receive units or refunds, and creditors will recover more than liquidation value. Project completion timelines are 5 years for Ramrajya and 1 year for Swarajya.
The Bombay High Court has granted an interim stay on a GST demand of approximately INR 2,500 crore against Hindustan Coca-Cola Beverages Private Limited noting the revenue department's interpretation of the provisions appeared "prima facie incorrect". The show cause notice was issued in January based on findings that the company undervalued goods over seven assessment years by offering retrospective discounts to distributors. – PTI
Senate GOP approves framework for Trump's tax breaks, spending cuts after late-night session. Senate Republicans plugged away overnight and into early Saturday morning to approve their multitrillion-dollar tax breaks and spending cuts framework, hurtling past hardened Democratic opposition toward what President Donald Trump calls the “big, beautiful bill” that's central to his agenda. The vote, 51-48, fell along mostly party lines, but with sharp dissent from two prominent GOP senators. It could not have come at a more difficult political moment. - PTI
Radisson Hotel Group on Friday announced the debut of Aaramgah Jawai Resort & Spa, a member of Radisson Individuals Retreats, in Rajasthan. This new addition, having 22 premium rooms and 10 luxury villas, marks the group's 11th operational hotel in Rajasthan. Jawai offers a blend of rich heritage, cultural authenticity, and pristine wilderness, allowing travellers to explore the state's true essence beyond the traditional tourist circuit. - PTI
Ghaziabad Development Authority (GDA) recorded its highest revenue in four years, collecting INR 1,599 crore in 2024-25—23% above its INR 1,294 crore target and 95% higher than the previous year. With no outstanding loans, GDA plans to restart stalled projects, including the Northern Peripheral Road and Noida-Sahibabad metro extension.
Despite the Haryana government's announcement to construct five lakh houses for the poor, 24 double-storeyed homes built under a 2012 government scheme in Pinjore remain unallotted. Bureaucratic delays and lack of committee formation have left the 411-sq ft houses vacant and deteriorating, prompting renewed calls for their immediate allocation to eligible beneficiaries.
Toronto's housing market continued its decline in March, with sales dropping 2.4% month-over-month and prices falling for the third consecutive month. Trade uncertainty and an upcoming election have stalled buyer activity. While new listings rose 9.6%, annual sales declined 23.1%, reflecting cautious market sentiment amid economic and political uncertainty.
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Hughes Road in South Mumbai has emerged as a luxury hotspot, offering a 10-15% price advantage over nearby areas. Improved infrastructure and limited redevelopment make it an attractive destination for high-end buyers and investors.
Under-construction (UC) homes in major Indian cities are now pricier than ready-to-move (RTM) properties, according to Magicbricks. Delhi's UC homes cost INR 25,921 per sq. ft., surpassing RTM rates at INR 18,698. Mumbai saw a 33.4% YoY surge in UC home prices. Strong demand and rising costs are driving this market shift.
Manhattan’s ultra-luxury market has rebounded, attracting cash buyers amid financial market shifts. A USD 110 million penthouse atop 111 W. 57th St., spanning four floors, has been listed amid renewed interest in the luxury tower. Following slow initial sales, management changes have boosted demand, with USD 285 million in deals closed.
Foreign firms rent 62% of 180 lakh sqft office space leased in Jan-Mar across 9 cities: CBRE - PTI
The Maharashtra State Road Development Corporation Ltd. (MSRDC) has been awarded the prestigious SKOCH 2025 Award for the successful implementation of its flagship project, the Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg. The Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg is a high-speed greenfield expressway that reduces travel time between Nagpur and Mumbai from 16-18 hours to just 7-8 hours, while also enhancing access to Mumbai. Additionally, it has catalyzed agricultural and industrial development in the Vidarbha and Marathwada regions, creating new growth opportunities for agro-based and manufacturing industries, thereby boosting the state’s economy. - PTI
China on Friday hit back at the US by imposing additional 34% tariffs on all imported American products in retaliation to US President Donald Trump’s decision to impose 34% tariffs against Chinese exports, in the latest escalation of trade war between the top two economies of the world. The tariffs will be imposed on American goods starting April 10, state-run Xinhua news agency reported. - PTI
NCLT Mumbai has approved Nuvoco Vistas Corp.’s resolution plan to acquire Vadraj Cement for INR 1,800 crore under IBC. The company will invest INR 1,000-1,200 crore to restart operations. Post-merger, Nuvoco’s cement capacity will rise to 31 MMTPA, with production expected to commence by Q3 FY27.
Ludhiana Municipal Corporation met its INR 150 crore property tax target, collecting INR 153 crore, but fell short in total revenue, recovering INR 833.71 crore against a INR 976.7 crore target. The shortfall is largely attributed to the pending GST share from the state government, with only INR 504 crore received against the INR 625 crore target.
The Income Tax Appellate Tribunal (ITAT), Mumbai, has ruled that the value of a new flat received through a redevelopment project cannot be taxed as 'Income from Other Sources' under Section 56(2)(x) of the Income Tax Act. ITAT stated that receiving a new flat in place of an old one is an 'extinguishment' of property rights, not an income-generating transaction.
The Maharashtra government has formed a high-level committee to regularise encroachments on government land and monetise them through leasing in tier 2 and 3 cities. Headed by principal secretary Aseem Gupta, the committee aims to generate revenue for local bodies via property tax and structured land development policies.
Tata Advanced Systems has acquired a 7.4 lakh sq ft land parcel in Karnataka’s Vemgal Industrial Area for INR 29.34 crore. The land will be used for an aircraft manufacturing final assembly line, including maintenance, repair and overhaul (MRO) operations. The 10-year lease agreement includes an annual rent of INR 17,011 and maintenance charges.
The Supreme Court has summoned MHADA’s chief officer over unpaid rent arrears exceeding INR 12 crore for tenants affected by the stalled redevelopment of Parvati Building in South Mumbai. Despite a new developer taking over, tenants remain in financial distress. MHADA must present a resolution plan in court on April 7.
Germany-based ebm-papst is expanding in India with a new INR 340 crore plant in Chennai. The 14.2-acre facility's first phase, covering 23,000 m², will be completed by late 2026. The plant, expected to employ 700 people, marks a major investment in India's manufacturing sector.
The state government has directed the demolition of 391 illegal constructions in Malwani-Madh by July, holding municipal and government officials accountable for aiding developers. A Special Investigation Team (SIT) is probing allegations of forged land records. Of 457 identified structures, BMC has acted against 66 so far.
Mumbai’s Economic Offences Wing (EOW) is set to attach 21 properties worth INR 168 crore linked to five key accused in the INR 122-crore New India Cooperative Bank embezzlement case. Former bank chairman Hiren Bhanu and his wife, who are currently abroad, are wanted in connection with the case. Eight individuals, including ex-GM Hitesh Mehta, have been arrested.
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