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08 Apr 2025
Between April 2024 and March 2025, the Brihanmumbai Municipal Corporation (BMC) levied a 200% property tax penalty on 3,343 properties for unauthorised constructions, totalling INR 392.28 crore. The highest number of violations were recorded in Mumbai's western suburbs, followed by the island city and eastern suburbs, with H West ward leading. The crackdown aims to curb illegal alterations across all 25 wards. While legal proceedings often stall demolition, penalties are being enforced under Section 152(A) of the Mumbai Municipal Corporation Act, 1888. So far, INR 12 crore has been collected.
08 Apr 2025
Mah-Hill Properties Pvt Ltd, a subsidiary of the Adani Group, has acquired a 48,491 sq ft plot along with a 257 sq m structure in South Mumbai's Carmichael Road area, Malabar Hill, for INR 170 crore, according to property registration records accessed by CRE Matrix. The seller, Behram Nowrosji Gamadia, transferred ownership of this pre-independence legacy asset on 27 March 2025. Stamp duty of INR 10.46 crore and a registration fee of INR 30,000 were paid. This rare transaction follows another high-profile sale last month, in which the Laxmi Nivas bungalow on Nepean Sea Road was sold for INR 276 crore to a firm linked to the Reliance Group.
07 Apr 2025
The Supreme Court has summoned the chief officer of MHADA to explain how the agency plans to clear rent arrears exceeding INR 12 crore for tenants affected by the stalled redevelopment of Parvati Building in South Mumbai. The redevelopment, initiated in 2013, faced prolonged delays after the previous developer defaulted on rent payments for temporary accommodation. Despite MHADA appointing a new developer, tenants remain without homes nor transit rents. The SC has ordered MHADA's chief officer to appear on April 7, 2025, and present a resolution plan.
07 Apr 2025
The Navi Mumbai Municipal Corporation (NMMC) has successfully achieved its revenue collection target, owing to the cooperation of its well-informed citizens. The revenue was generated from various sources, including property tax, water tax, construction permit approvals, and license fees. The Property Tax Department collected INR 826.12 crore, with INR 20.97 crore collected under the Abhay scheme, which offered a 50% discount on penalty charges. The Water Supply Department gathered INR 105.93 crore, while the Urban Planning Department secured INR 381.90 crore from construction permits, primarily from redevelopment projects. Additional revenue was collected through the Licensing Department and local body tax. Future plans include integrating the Bharat Bill Payment System for enhanced convenience.Read more
07 Apr 2025
The Income Tax Appellate Tribunal (ITAT), Mumbai, has ruled that the value of a new flat received in a redevelopment project cannot be taxed as 'Income from Other Sources' under Section 56(2)(x) of the Income Tax Act. The ruling, which provides relief to homeowners, clarifies that redevelopment is an 'extinguishment' of property rights rather than an income-generating transaction. The case involved a taxpayer whose new flat's value was deemed taxable, but ITAT ruled that it was a legitimate asset replacement, not a taxable income.
07 Apr 2025
A study by Pani Haq Samiti (PHS) and the University of Mumbai has evaluated the effects of the Brihanmumbai Municipal Corporation's (BMC) Water for All policy, launched in 2022, on slum dwellers. The findings indicate significant improvements in residents' access to water, health, and financial burdens. However, despite 14,000 approvals out of 16,000 applications, only 7,043 legal connections have been provided. Experts highlight systemic biases and persistent challenges, such as low pressure and contamination. BMC aims to expand water connections while reducing non-revenue water losses, which currently account for 30% of the supply in Indian cities.
07 Apr 2025
The Bombay High Court ruled that a builder, Ambit Urbanspace, was not justified in using a commercial arbitration plea to remove tenants with statutory legal protection under the Maharashtra Rent Control Act, 1999. The case involved garage tenants on the premises of Poddar Apartment Co-operative Housing Society in Kandivli, who were distinct from society members. The court stated that arbitration could not serve as a "backdoor method" for eviction, particularly when landlords had not acted for decades regarding alleged illegal usage. The judgment emphasised that tenancy matters should be addressed through the Rent Act forum.
07 Apr 2025
The Mumbai Metropolitan Region Development Authority (MMRDA) is set to introduce a financial compensation policy to accelerate the resettlement process for Project-Affected Persons (PAPs) involved in key urban infrastructure developments. This initiative, approved during the 159th MMRDA meeting chaired by Deputy Chief Minister Shri Eknath Shinde, aims to replace the traditional tenement-based resettlement model with direct financial aid. The policy aligns with Brihanmumbai Municipal Corporation (BMC) guidelines and applies to major projects, including the Metro, Mumbai Trans Harbour Link (MTHL), and the Sewri-Worli Elevated Corridor. Compensation will be determined based on Ready Reckoner Rates (ASR Rates), ensuring fair settlements and reducing project delays. By adopting this approach, MMRDA seeks to streamline resettlement, prevent legal complications, and facilitate the timely completion of infrastructure projects crucial for Mumbai's growth.Read more
04 Apr 2025
The Brihanmumbai Municipal Corporation (BMC) has stationed a team of 10 personnel, including labourers and staff from the Licence Department, at Shahu Nagar Police Station to remove hawkers and improve traffic flow in Dharavi and Sion West. The decision follows a police request amid congestion caused by the closure of Sion bridge. Residents complain that the bridge closure has significantly increased travel time, with hawkers and haphazardly parked vehicles worsening congestion.
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04 Apr 2025
United Spirits has sold a residential property located in Mumbai's Malabar Hill area for INR 172 crore. The property includes furniture, fixtures, and fittings, spanning a ground floor and two upper floors. The buyers are Ajaykumar Dineshkumar Vaghani and Manisha Ajay Vaghani, who have no ties to the company's promoters or group. United Spirits, a subsidiary of Diageo, has been liquidating non-core assets previously owned by its former chairman Vijay Mallya, who stepped down in 2015. The company is based in Bengaluru, Karnataka.
04 Apr 2025
The City and Industrial Development Corporation (CIDCO) has raised property transfer fees across Navi Mumbai by 5 to 10%, with registered housing societies and commercial shops facing a 50% hike. The revised charges took effect from 2nd April. The increase aligns with market trends and infrastructure development, impacting transactions in key areas such as Vashi, Nerul, Panvel, and Kharghar. Residential property transfer fees now range from INR 27,000 to INR 2,31,000 per square metre, while commercial properties exceeding 200 square metres will attract fees as high as INR 5,84,600 per square metre. CIDCO defended the move as necessary for urban growth despite potential market slowdowns.
04 Apr 2025
The Bombay High Court has ruled in favour of 24-hour convenience stores, stating that there are no legal restrictions on their operating hours. The decision follows a plea by Accelerate Productx Ventures Pvt. Ltd., which operates 'The New Shop' in Pune's Hadapsar, challenging police actions forcing closure after 10-11 pm. The court noted that 24x7 stores enhance consumer convenience, boost spending, and generate employment. Police authorities admitted their enforcement was based on a misunderstanding. The court clarified that existing regulations apply only to establishments serving alcohol, theatres, and similar businesses, not general retail stores.
04 Apr 2025
In response to the recent rise in Ready Reckoner rates, the Brihanmumbai Municipal Corporation (BMC) has proposed a property tax increase of 10-12%. The proposal, submitted to Municipal Commissioner Bhushan Gagrani, requires state government approval. While property tax revisions are mandated every five years, the last adjustment occurred in 2015-16. Revenue shortfalls, worsened by exemptions for properties up to 500 sq ft and deferred tax hikes due to the pandemic, have prompted this move. Despite previous attempts to revise rates, strong opposition led to their withdrawal. If approved, the new rates will impact over 9 lakh properties in Mumbai.
04 Apr 2025
Interior designer Gauri Khan has sold her nearly 2,000 sq ft apartment in Kohinoor Altissimo, Dadar West, Mumbai, for INR 11.61 crore. The transaction, registered on March 28, 2025, saw buyers Devendra Chaukar and Vandana Agarwal acquiring the 21st-floor unit with two car parkings. The deal reflects a 37% appreciation since Khan purchased the property for INR 8.5 crore in August 2022, highlighting Mumbai's luxury real estate growth. Meanwhile, Shah Rukh Khan has leased two duplex apartments in Pali Hill, Khar, for INR 8.67 crore over three years, temporarily relocating as Mannat undergoes renovation. Mumbai continues to dominate India's luxury real estate market, with INR 3,652 crore invested in high-end homes in 2024 and INR 850 crore in the first two months of 2025.
04 Apr 2025
Merino Shelters, a MAN Industries subsidiary, has partnered with Paradise Group to develop its 6-acre land in Nerul, Navi Mumbai, over six years. The deal includes an upfront payment of INR 70 crore and 30% of the RERA carpet area, valued at INR 650-INR 700 crore. The total monetisation is estimated at INR 770 crore. The land, near DY Patil Stadium and the upcoming Navi Mumbai International Airport, offers strong growth potential. MAN Industries aims to monetise non-core assets, while Paradise Group sees high development prospects.
04 Apr 2025
The Bombay High Court has upheld the removal of Sushanku Builders from a slum rehabilitation project in Bandra, citing delays in the scheme's completion. The builder's plea to reverse the decision, made by the apex grievance redressal committee under the Slum Act was dismissed. The court noted that despite being exonerated for delays until August 2021, the builder's actions post that period were deemed unacceptable, thus justifying the termination of their appointment.
04 Apr 2025
Residents of Andheri are preparing for increased traffic disruptions as the final phase of Gokhale Bridge construction progresses. The BMC is concreting the previously tarred approach road before the bridge fully opens in May 2025. From April 1 to May 15, traffic diversions have been implemented, restricting entry at key junctions, including Gold Spot Junction and Telly Gully Bridge. Motorists will need to use alternative routes, which locals fear may not efficiently handle peak-hour congestion.
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