13 Jun 2025

The Navi Mumbai Municipal Corporation (NMMC) has introduced a WhatsApp chatbot service, enhancing its digital initiatives to simplify civic interactions. Under the guidance of Municipal Commissioner Dr Kailas Shinde, this tech-driven facility allows residents to access property tax and water bill information, and make payments directly via WhatsApp. Citizens can initiate the service by sending 'Hi' to the official chatbot number 8291920504. This innovation complements existing digital platforms such as the NMMC website and My NMMC app, along with payment modes like UPI, credit/debit cards, and mobile wallets.Read more

12 Jun 2025

The Dharavi Redevelopment Project (DRP), backed by a joint venture between the Maharashtra government and the Adani Group, is prioritising inclusive rehabilitation under the theme of "housing for all". DRP CEO SRV Srinivas emphasised that the plan would not only ensure housing for eligible and ineligible residents but would also revitalise Dharavi into a potential SME hub. With a rehabilitation budget of INR 97,500 crore, the plan aims to create equitable access to homes, amenities, and livelihoods, ensuring sustainable community growth and resisting ghettoisation.Read more

12 Jun 2025

In a significant development, the Bombay High Court instructed the Mumbai Metropolitan Region Development Authority (MMRDA) to deposit an arbitration award of INR 1,169 crore with the court registry amid an ongoing legal battle with Mumbai Metro One Pvt Ltd (MMOPL), a subsidiary of Reliance Infrastructure. This order followed MMRDA's appeal challenging earlier arbitral rulings over cost disputes linked to Mumbai's first metro line. The court made it clear that any stay on the award would only be considered after the deposit, reinforcing the seriousness of arbitration enforcement in India.Read more

12 Jun 2025

Tribeca Developers has launched Trilive, a built-for-rent studio apartment project in Marol, Andheri, aimed at India's growing population of millennial professionals seeking premium rental housing. Despite strong demand, studio apartments form less than 0.5% of India's housing stock. Trilive addresses this gap by offering 650 tech-enabled, fully serviced units with modern amenities like rooftop lounges, co-working spaces, and private balconies. The project is managed by Housr, which operates over 75 properties across five cities, and promises investors a rental yield of over 6% with a nine-year leaseback. This marks one of India's largest managed rental housing ventures and reflects a strategic collaboration between Tribeca, Housr, and Starwing Group. With future plans to scale up to 8,000 beds across cities, Trilive combines premium urban living with hassle-free ownership-presenting a new standard in India's rental housing landscape.Read more

11 Jun 2025

Shaula Real Estates, a private firm where Tanya Dubash-daughter of Godrej Industries Chairman Adi Godrej-is a director, has acquired a lavish duplex apartment in Mumbai's Worli locality for nearly INR 226 crore. The purchase was part of the Naman Xana project, an upscale under-construction residential development. The deal, executed in May, stands out as one of the most expensive primary transactions this year, with the per sq ft value on the carpet area reaching approximately INR 2.45 lakh. The move reflects continued investor confidence in Mumbai's high-end residential market.Read more

11 Jun 2025

Veteran Bollywood actor Jeetendra Kapoor's family-owned firms, Pantheon Buildcon Pvt Ltd and Tusshar Infra Developers Pvt Ltd, concluded a landmark real estate deal involving two adjacent land parcels and built-up assets in Mumbai's Andheri area. The property, spanning nearly 9,665 square metres and including Balaji IT Park's three buildings, was acquired by NTT Global Data Centers & Cloud Infrastructure India Pvt Ltd for INR 855 crore. The transaction was formally registered recently, with stamp duty and registration charges duly settled, marking a significant move in Mumbai's commercial real estate and data centre sectors.Read more

11 Jun 2025

Hiranandani Communities is aiming to generate revenue exceeding INR 1,100 crore from the initial phase of its new residential project, The Arena, within the sprawling 588-acre Hiranandani Fortune City township in Panvel. Featuring around 600 units, the project taps into the rising demand for quality housing in the Mumbai Metropolitan Region, fuelled by increasing incomes, growing employment opportunities, and the migration of skilled talent seeking comprehensive living environments. The township has already delivered more than 2,200 apartments, with high occupancy rates and over 3,000 satisfied residents.Read more

10 Jun 2025

In a recent ruling, the Maharashtra Real Estate Regulatory Authority (MahaRERA) rejected refund claims submitted by six homebuyers of a Chembur housing project who had defaulted on payment obligations during the pandemic. While five of them sought to withdraw from the project, one requested an extension. MahaRERA concluded that none were eligible under Section 18 of the RERA Act, as the defaults were on the buyers' part. However, one buyer was granted a refund in line with the terms of the agreement. The ruling underlines the regulator's position on payment discipline and its limited scope for leniency, even under pandemic-related hardships.Read more

10 Jun 2025

Kanakia Group has entered into a significant joint venture with international real estate major Hines and Japanese financial institutions to develop a premium office project in Mumbai's Bandra Kurla Complex (BKC). Valued at INR 12,825 crore, this marquee development is planned across a 4.5-acre plot acquired from the Mumbai Metropolitan Region Development Authority. The collaboration brings together Kanakia's local execution expertise, Hines' global real estate proficiency, and robust Japanese institutional capital. This alliance underscores the growing interest of global investors in India's Grade-A commercial real estate and positions BKC for another round of premium development.Read more

10 Jun 2025

The Navi Mumbai Municipal Corporation (NMMC) has flagged 527 buildings as dangerous following a recent survey under the Maharashtra Municipal Corporation Act. It has reiterated that structures over 30 years old must undergo a structural audit by a certified civil or structural engineer registered with the civic body. Property owners must submit proof of completed repairs and certification confirming the building's safety. A fine of INR 25,000 or the annual property tax whichever is higher may be levied on those failing to comply. Citizens have also been strongly advised to vacate unsafe premises immediately.Read more

10 Jun 2025

In a significant stride towards sustainable urban transformation, the Saifee Burhani Upliftment Trust (SBUT), under its flagship Saifee Burhani Upliftment Project (SBUP), marked World Environment Day by reinforcing its commitment to eco-conscious redevelopment in Bhendi Bazaar. The initiative goes beyond structural renewal, incorporating native greenery, renewable energy, water and waste management systems, and thoughtful urban planning that balances cultural modern resilience. SBUT's efforts are setting an unprecedented benchmark for future cities that prioritise both people and the planet.Read more

10 Jun 2025

Actor Jaideep Ahlawat and wife Jyoti Hooda have purchased a premium apartment in Poorna Apartments, Andheri West. The 1,950 sq ft carpet area home (2,341 sq ft built-up) includes four parking spaces. The transaction, recently registered, involved a stamp duty of INR 60 lakh and registration charges of INR 30,000. Andheri West remains a top choice for high-net-worth buyers due to its proximity to business districts and entertainment hubs, reflected in strong property demand and rising values.Read more

10 Jun 2025

Apple India has signed a lease for 12,616 sq ft of retail space at Oberoi Sky City Mall, Borivali, Mumbai's marking its second store in Maharashtra and fourth in India. The 10-year, 10-month lease carries an annual rent of INR 2.08 crore, with a 15% escalation every three years. The deal includes 150 sq m of storage space, five parking spots, and a security deposit of INR 1.04 crore. A revenue-sharing clause requires Apple to pay 2% of store revenue for 42 months, rising to 2.5% thereafter. The store expands Apple's retail footprint beyond Mumbai's city centre, targeting the growing suburban market. This move complements Apple's broader India strategy of boosting domestic sales and manufacturing. By entering suburban hubs, Apple is adapting to India's evolving consumer landscape and strengthening its retail presence in key growth corridors.Read more

10 Jun 2025

The Confederation of Real Estate Developers' Associations of India (CREDAI) has applauded the Reserve Bank of India's recent 50 basis points cut in the repo rate, describing it as a timely and courageous move aimed at stimulating demand in the housing market. With this latest step, the cumulative reduction now stands at 100 basis points over the past six months. CREDAI believes the decision will significantly improve buyer sentiment, especially in the mid-income and affordable segments, and enhance the financial viability of projects catering to this market. The move comes at a time when housing sales have shown a decline in major cities, indicating the need for strong policy support.Read more

09 Jun 2025

In a significant move to protect occupants of structurally unsafe buildings in Mumbai, the Maharashtra Housing and Area Development Authority (MHADA) has introduced a monthly rental support of INR 20,000 for tenants residing in 96 cessed buildings declared critically dangerous. The decision, announced earlier this week, comes amid growing concern over safety risks with the monsoon approaching. The authority also plans to lease 400 temporary tenements through third-party agencies to house displaced residents. This initiative attempts to bridge a stark gap in available transit accommodation, with over 2,400 residents in need but fewer than 800 units presently ready for occupation.Read more

09 Jun 2025

The Brihanmumbai Electric Supply and Transport (BEST) undertaking has begun reshaping its operational strategy to align with growing demand near Mumbai Metro and railway stations. Over the past week, officials reported a significant increase in short-distance feeder services, especially around key Metro routes like Lines 2A and 7. Instead of running long traditional bus routes, BEST is focusing on improving last-mile connectivity through mini and midi buses. This transition is backed by passenger data insights and is expected to optimise efficiency and reduce travel time for commuters.Read more