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31 Mar 2025
Bollywood actress Kajol Devgan has sold her 762 sq ft apartment in Hiranandani Gardens, Powai, for INR 3.1 crore. The property, located on the 21st floor of Atlantis Co-Operative Housing Society, comes with two stack car parking spaces, with a per sq ft rate of approximately INR 40,682 based on the RERA carpet area. The deal was registered on March 20, with Vrushali Rajnish Rane and Rajnish Vishvnath Rane as the buyers. This transaction follows Kajol's recent purchase of a 4,365 sq ft commercial space in Goregaon West for INR 28.78 crore earlier this month. In 2023, she acquired an office space in Andheri West for INR 7.64 crore and an apartment in Mumbai for INR 16.50 crore. Meanwhile, her husband, Ajay Devgn, had leased out a commercial office space spanning 3,455 sq ft in Mumbai for a monthly rent of INR 7 lakh last year.
31 Mar 2025
The Jawaharlal Nehru Port Authority (JNPA) has announced plans to construct an iconic high-rise corporate office at Mallet Bunder in Mumbai. The 20-floor building, adjacent to the Ferry Wharf and Mumbai Cruise Terminal, will be developed at an estimated cost of INR 1,000 crore. The Mumbai Port Authority has allotted a 12,804 sq. m. plot for this project. The building will also house offices of key port-related organisations, including DG Shipping, IPGL, and IPA. JNPA has received in-principle approval from the Ministry of Ports, Shipping & Waterways. The office will feature a digital observatory, a state-of-the-art auditorium, and a ground-floor canteen. Engineers India Ltd. has been appointed as the project consultant for structural design, engineering, and construction management. The project is expected to be completed within two years after obtaining the necessary approvals and permissions.
31 Mar 2025
The Bombay High Court dismissed a petition by Bhosale Homes challenging a 2016 stop-work notice issued by CIDCO for its Ulwe project in Navi Mumbai. The court ruled that a development agreement cannot override a disputed land title, affirming CIDCO's authority to halt construction. Bhosale Homes had claimed to be the land's lessee since 2008 and argued that a similar stop-work notice was overturned in 2018 for another project. However, CIDCO contended that the land was allocated to Sir Mohammed Yusuf Trust under the 12.5% scheme. The HC upheld CIDCO's decision, stating that land title disputes must be resolved in a civil court.
28 Mar 2025
Hermes Distillery has purchased 10 residential units in Prestige Ocean Tower, Marine Lines, Mumbai, for INR 199.35 crore. The total built-up area of the apartments is 25,650 sq ft, with each unit offering a carpet area of 2,482 sq ft and a built-up area of 2,565 sq ft. The deal, registered in January 2025, reflects a per-unit price between INR 19.39 crore and INR 20.54 crore. Each apartment has three parking spaces, for a total of thirty parking spaces, and the total stamp duty paid is INR 11.96 crore. Prestige Ocean Tower, developed by Prestige Projects, is located on a 2.3-acre site and features 2 and 3 BHK residences.
28 Mar 2025
Maharashtra Chief Minister Shri Eknath Shinde has announced that all street concretization work in Mumbai will be completed by May 31. The initiative, which began in January 2023, covers over 20 major roads and has faced criticism over delays and disruptions. In a recent review meeting, Shinde assured MLAs that the project would be expedited and addressed concerns regarding road quality and slow execution. Deputy Chief Minister Shri Devendra Fadnavis also emphasized the government's commitment to achieving full concretization of Mumbai's roads by 2027.
28 Mar 2025
Bollywood actor Akshay Kumar has sold two apartments in Oberoi Sky City, Borivali East, for INR 6.60 crore. The transactions, recorded on March 20, 2025, involved a 1,080 sq. ft. unit bought for INR 2.82 crore and sold for INR 5.35 crore, along with a 252 sq. ft. apartment acquired for INR 67.19 lakh and sold for INR 1.25 crore. This is his third sale in the project this year, following two earlier transactions in January and March. Oberoi Sky City, a ready-to-move-in development, has witnessed significant market activity, with 208 sale registrations worth INR 818 crore in the past year.
28 Mar 2025
The Brihanmumbai Municipal Corporation (BMC) evacuated residents from Dsouza Mansion in Santacruz, a C1-rated building deemed dangerous. The structure, which had been under scrutiny for its deteriorating condition, was vacated with police assistance to ensure compliance. Residents who had been resisting relocation expressed concerns over inadequate alternatives. The building's structural integrity had been questioned following recent municipal audits categorizing it as unsafe. Despite opposition from occupants, the civic body proceeded with the eviction to prevent potential hazards, marking another instance of BMC's ongoing efforts to address Mumbai's ageing infrastructure.
28 Mar 2025
The Enforcement Directorate (ED) is investigating an alleged land-grabbing and money laundering case involving unauthorized buildings in Nalasopara, constructed on public land. The case involves the demolition of four buildings by the Vasai-Virar Municipal Corporation (VVMC) in January, following a Supreme Court order that deemed them illegal. Authorities claim that the accused fraudulently acquired land, constructed 41 buildings, and sold flats worth INR 1,500-1,600 crore. This led to the eviction of 2,500 families, a matter recently debated in the Maharashtra state legislature. The agency suspects that the funds from these sales were laundered through various channels, prompting a deeper probe into the money trail.
28 Mar 2025
Mumbai's historic Elphinstone Road Overbridge (ROB), built 125 years ago during the British era, will be closed by April 10, 2025, to make way for a double-decker bridge under the Sewri-Worli Elevated Connector project. The MMRDA has nearly completed all clearances, including one from Mumbai Traffic Police, to begin demolition before the monsoon season. The ROB connects Prabhadevi and Parel, both key commercial and hospital zones. Traffic diversions via Curry Road and Tilak Bridge and new pedestrian FOBs will aid movement. One level of the new bridge is expected by April 2026, promising improved long-term connectivity and safety.Read more
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28 Mar 2025
The Santacruz-Chembur Link Road (SCLR) has significantly improved east-west connectivity in Mumbai, cutting travel time between Santacruz and Chembur from nearly two hours to just 17 minutes. The ongoing extension aims to ease congestion further and introduce additional direct links. With the project cost rising to INR 650-670 crore due to delays, it features Asia's first curved cable-stayed bridge and new routes connecting Kurla to Vakola Junction and Chembur to Vile Parle. Once completed, it is expected to reduce congestion in key areas, such as the Bandra-Kurla Complex (BKC) and Vakola, by 30%, offering a smoother commute across the city. The final phase is anticipated to be completed in the coming months.Read more
27 Mar 2025
InterGlobe Hotels (IGH), a joint venture between InterGlobe Enterprises and Accor, is expanding its presence in India through a greenfield development strategy focused on key metropolitan markets. Recently, IGH launched its fifth property in Mumbai at Bandra Kurla Complex (BKC), adding 206 rooms and expecting it to contribute nearly 25% of Mumbai revenue in the next three years. The company is now eyeing further growth in Delhi-NCR, Hyderabad, Bangalore, Pune, and Goa. Currently operating 23 hotels across India, IGH reported 14% revenue growth in 2024 and anticipates maintaining this momentum. The ibis brand, targeting business travelers, enjoys occupancy rates of up to 90%, with projected ADR growth of 5-10% in 2025.
27 Mar 2025
Western Railway is set to clear encroachments on a 15,000 sq. meter prime plot in Bandra (East) near the Western Express Highway, earmarked for long-term infrastructure projects. While the land will not be used for commercial purposes, it is reserved for future expansion of railway activities. The plot, currently divided by a nullah and partially encroached upon, has suffered damage due to the dumping of construction debris. Officials highlighted that these squatters will soon be relocated following due process. Previously, the Railways conducted anti-encroachment drives in 2022, but illegal occupants returned. The land, valued at approximately INR 150 crore, remains crucial for upcoming railway development in Mumbai.
27 Mar 2025
Bollywood actress Huma Qureshi and her brother Saqib Saleem have leased a 3,370 sq ft luxury villa in Equest Condominium on Juhu Tara Road, Mumbai, for a monthly rent of INR 10 lakh, according to property registration documents. The villa, owned by Impact Films Pvt Ltd, includes an additional 2,654 sq ft basement, four car parking slots, a swimming pool, and a garden. The rental agreement, registered on February 25, 2025, is for 60 months with a 48-month lock-in period, a security deposit of INR 30 lakh, and a 10% rent escalation after 36 months. Juhu remains a Bollywood hotspot, home to several film stars and recent high-value property deals.
27 Mar 2025
Cricketer Suryakumar Yadav and his wife, Devisha Yadav, have acquired two luxury apartments in Deonar, Mumbai for INR 21.1 crore. The units, located in Godrej Sky Terraces, span a combined carpet area of approximately 4,222.7 sq. ft. and come with six designated parking spaces. The transaction, registered on March 21, incurred a stamp duty of INR 1.26 crore and a registration fee of INR 30,000. The project, covering 1.05 acres, has recorded 25 sales worth INR 202 crore in the past year, with an average price of INR 52,433 per sq. ft. Deonar offers strong connectivity via the Chembur railway station, Mumbai Monorail, and key expressways. Meanwhile, other notable real estate transactions in Mumbai include Zaheer Khan's INR 11 crore apartment purchase in Elphinstone Road and Rohit Sharma's Lower Parel property rental for INR 2.6 lakh per month.
27 Mar 2025
Mumbai Metro Line 6, known as the Pink Line, is a 15.18 km elevated corridor connecting Swami Samarth Nagar in Andheri to Vikhroli (EEH), with 13 stations along key areas such as JVLR, SEEPZ, and Powai. Aiming to improve east-west connectivity, the project is set for completion this year, with daily ridership projected at 7.69 lakh by 2031. The line will intersect with Metro Lines 2A, 3, 4, and 7, and connect to Western and Central Railways at Jogeshwari and Kanjurmarg. With a budget of INR 6,716 crore, the Pink Line will significantly reduce congestion on JVLR, Western Express Highway, and SV Road.Read more
27 Mar 2025
Brookfield Group's subsidiary, Moon Holdings, has acquired a 6-acre land parcel in Mumbai's Powai through a structured deal with two Supreme Infrastructure Group companies for approximately INR 115 crore. The acquisition strengthens Brookfield's commercial real estate portfolio, which currently spans 55 million sq. ft. across India. Located near Supreme Business Park in Hiranandani Gardens, the land is part of a 30-acre parcel earmarked for road development by MMRDA. While Brookfield's subsidiary gains control of the asset, future development hinges on resolving encumbrances linked to the original landowner, positioning the deal as a strategic step in expanding its Mumbai office space footprint.
27 Mar 2025
The Maharashtra Housing and Area Development Authority (MHADA) has announced that its Chhatrapati Sambhajinagar Housing and Area Development Board will conduct its first Janata Darbar Din on March 28, 2025, to facilitate direct grievance redressal. The initiative, modeled after Lokshahi Din, aligns with Maharashtra's 100-day action plan, prioritizing citizen concerns under directives from the state's leadership. The forum, chaired by the Chief Officer of the Board, will be held at the Board's office on CBS Road, with written applications due by March 27. The move follows a similar initiative by MHADA's Nashik Board, which successfully conducted its first Janata Darbar Din earlier this month and will now hold the sessions regularly.
27 Mar 2025
Mumbai-based real estate investment platform Mt. K Kapital is preparing to launch its second fund with a target corpus of INR 2,500 crore, significantly larger than its first fund of INR 790 crore. The new fund will focus on financing housing projects in major cities like Delhi-NCR, Bengaluru, Pune, and Mumbai, collaborating with leading developers to drive sector growth. The firm's first fund, which raised capital from institutions such as SBI, SBI Life, and ICICI Bank, has already deployed 50% of its corpus into projects by Keystone Realtors under the 'Rustomjee' brand in the Mumbai Metropolitan Region. The second fund is expected to be launched by the end of the year.
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