08 Jul 2025

Puravankara Limited has won the bid to redevelop eight residential societies in Chembur, Mumbai. This project covers about 4 acres with over 1.2 million sq ft of development potential and an estimated Gross Development Value (GDV) of INR 2,100 crore. The move expands Puravankara's presence in Mumbai's redevelopment sector, which now includes 3.6 million sq ft of projects across 11 sites in Mumbai and Pune. The company aims for a GDV of INR 18,000 crore from the western region, with INR 7,700 crore from redevelopment alone.Read more

07 Jul 2025

The Bombay High Court has demanded that the BMC clarify its plans for buildings in Mumbai that lack a fire No-Objection Certificate (NOC). During a recent hearing, the court questioned if the BMC's inaction implies approval of unsafe conditions, citing the 34-storey Wellingdon View building in Tardeo as an example. This building has 50 of 62 flats occupied since 2008 with only a partial occupation certificate and no fire NOC. The court emphasizes that the absence of a fire NOC cannot be regularized and will not permit any illegality, setting a precedent for fire safety enforcement across Mumbai's high-rises.Read more

07 Jul 2025

The Mumbai government has increased the monthly rent allowance for tenants of dilapidated cessed buildings to INR 30,000 during reconstruction, up from INR 20,000. This measure aims to better support tenants requiring alternate housing while their properties are redeveloped. Additionally, the government pledged to revoke NoCs for developers who have not commenced redevelopment projects under DCR 33(7) within three years. These steps highlight efforts to both financially assist residents and accelerate stalled urban renewal initiatives in Mumbai.Read more

06 Jul 2025

The Union Environment Ministry has granted final clearance for forest land transfer to build twin tunnels under Mumbai's Sanjay Gandhi National Park, part of the Goregaon-Mulund Link Road (GMLR) project. The 4.7 km tunnels, costing 6,500 crore, will connect Goregaon's Film City to Mulund's Khindipada by 2028. Built 20-160 meters underground, they'll include safety systems, utility ducts, and control rooms. Despite diverting 19.43 hectares of forest, no trees will be affected, and afforestation will be done in Chandrapur district. Extensive environmental studies guided the project. Once completed, the tunnels will cut cross-city travel time from 75 to 25 minutes and lower carbon emissions by over 22,000 tonnes annually.Read more

06 Jul 2025

Arkade Developers Ltd has acquired Filmistan Pvt Ltd, the corporate entity owning the landmark 4-acre land parcel known as Filmistan Studios, situated on SV Road in Goregaon West, Mumbai. The acquisition, completed for a total investment of INR 183 crore, will allow the company to develop a premium residential project with an estimated Gross Development Value (GDV) of INR 3,000 crore. The company announced that it has entered into a binding agreement to purchase 100 percent of Filmistan Pvt Ltd through a Share Purchase Agreement.Read more

05 Jul 2025

The Maharashtra Housing and Area Development Authority (MHADA) has partnered with Keystone Realtors for the redevelopment of Sindhi refugees housing in Sion Koliwada, Mumbai. This project targets over 1,200 families. The colony, covering 11.20 acres, housed buildings demolished in 2020 due to being unsafe. Each eligible family will receive a free 635 sq ft apartment, along with INR 20,000 monthly rent during construction and five years of maintenance. Executed under DCPR Regulation 33(9), this marks MHADA's first private land redevelopment through an appointed agency.Read more

04 Jul 2025

Actor-director Aatish Kapadia and his wife Alison Kapadia have purchased a 3,030 sq ft luxury apartment in Goregaon, Mumbai, for INR 15.31 crore. The transaction was registered on June 25, with INR 91.86 lakh stamp duty paid. Located in Oberoi Realty's Elysian, the apartment includes three parking spaces. This acquisition highlights Goregaon's appeal as a well-connected hub for professionals and creatives. Other transactions in the same project totaled INR 1,035 crore in sales over the last year, reflecting strong demand in Mumbai's luxury real estate market.Read more

04 Jul 2025

The Bombay High Court has dismissed petitions challenging the conversion of Mumbai's historic Mayor's Bungalow into a memorial for late leader Bal Thackeray. The bench ruled that the decision is a government policy matter and found no legal basis to interfere. Petitioners had raised concerns over heritage protection, environmental rules, and the composition of the public trust overseeing the memorial. The court noted the bungalow's heritage structure remains intact and restored, and construction is nearly complete. With all legal procedures followed, and the land reclassified from green to residential, the court upheld the INR 1 lease and cleared the path for the memorial's completion.Read more

04 Jul 2025

Adani Properties has received National Company Law Tribunal (NCLT) approval to acquire two major assets of the defunct real estate developer, Housing Development and Infrastructure Ltd (HDIL). The assets include 'Inspire BKC,' a commercial property in Mumbai's Bandra-Kurla Complex, and a land parcel in Kalyan Shahad. Adani's resolution plan for Inspire BKC is INR 3 crore, while the Shahad land had a fair value of INR 89.66 crore. Industry experts estimate the combined value of these assets at over INR 2,000 crore. Adani was the sole bidder for these properties under the insolvency process, which HDIL has been undergoing since 2019 with over INR 7,789 crore in liabilities.Read more

03 Jul 2025

Mumbai's redevelopment sector, a serious complaint has been filed against Sudhanshu Infrastructure and its representative Abhayjit Dubey for unauthorized construction and intimidation in the Aniraj Tower redevelopment project in Bhandup West. The Slum Rehabilitation Authority (SRA) accused the builder of illegally constructing a hall on the eighth floor, violating fire safety norms, and distributing commercial units without obtaining occupation certificates. The situation further escalated when a society member who flagged these violations was allegedly assaulted, leading to a second FIR. The case has revived concerns about regulatory lapses and resident safety in ongoing redevelopment schemes.Read more

03 Jul 2025

The Dharavi Redevelopment Project (DRP) has released its first eligibility list, identifying over 75% of tenement holders as eligible for new homes under the ambitious slum redevelopment initiative. The list covers 505 households in Mahim's Meghwadi and Ganesh Nagar, with 229 already cleared for resettlement and many others pending documentation or verification. Notably, the project offers inclusive rehabilitation to both residential and commercial units regardless of eligibility status and includes upper-floor residents, a first in Mumbai's redevelopment history. Residents have been invited to file objections or suggestions before the eligibility list is finalised.Read more

03 Jul 2025

Mumbai's Coastal Road Project's north phase, connecting Versova to Bhayandar, has received crucial Stage 1 approval for mangrove forest diversion. The INR 20,000 crore project involves interchanges, elevated roads, and twin tunnels, with much of the area in the Coastal Regulation Zone. Approximately 8.24 hectares of mangrove forest and 9,000 trees will be affected. Mitigation includes planting over 1.37 lakh new mangroves and afforestation over 31 hectares. The BMC will now seek High Court approval to begin construction, aiming to reduce travel time significantly and ease traffic congestion in Mumbai.Read more

03 Jul 2025

Keystone Realtors Ltd has secured a significant cluster redevelopment project in Andheri West, one of the city's most sought-after residential neighbourhoods. The developer has been appointed by eight housing societies for the redevelopment of a 4.75-acre parcel that currently houses 548 members. With development agreements already executed with five societies and Letters of Intent (LoIs) from the remaining three, the project is projected to create 10.6 lakh sq ft of saleable area, generating an estimated Gross Development Value (GDV) of INR 3,000 crore. This marks a major step in Keystone's strategy to strengthen its presence across high-potential suburban micro-markets in Mumbai.Read more

03 Jul 2025

Mumbai recorded 11,521 property registrations in June 2025, a 1% dip from previous year, yet revenue from these registrations rose to 2% by INR 1,031 crore. For the first half of 2025, total property sales reached 75,982 units, a 5% increase, with revenue surging 15% to INR 6,727 crore, marking the strongest half-yearly performance since 2013. June saw a buyer shift towards properties above INR 5 crore, increasing to 6% of registrations. Apartments up to 1,000 sq ft continued to dominate, representing 84% of transactions. Western and Central Suburbs accounted for 88% of registrations, while South Mumbai's share decreased to 6%.Read more

02 Jul 2025

Bollywood actor Randeep Hooda has acquired a 1,530 sq ft apartment in Versova, Andheri West, Mumbai, for INR 5.63 crore. The transaction was registered on June 10, 2025, with stamp duty of INR 33.78 lakh and a registration fee of INR 30,000 paid. This purchase is part of a trend of celebrity real estate investments in Mumbai's luxury market, with other public figures also recently acquiring properties in the dynamic Andheri West area.Read more