15 Feb 2026

Sattva Group has formally entered the Mumbai Metropolitan Region with six residential and commercial redevelopment projects spanning more than 8 million sq ft of construction area. Secured through competitive evaluation processes, the projects are spread across Parel (Sewri), Prabhadevi, Goregaon East, Vile Parle West, Powai and the Bandra Kurla Complex vicinity. The portfolio is expected to deliver over 2,500 rehabilitation homes and more than 2,000 new residences, with an estimated gross development value of around INR 11,000 crore. Construction is scheduled to commence in 2026, with phased deliveries extending until 2032. The move aligns with Mumbai's accelerating redevelopment cycle, driven by ageing housing stock and evolving regulatory support under proposed refinements to DCPR 2034.Read more

14 Feb 2026

Smartworks Coworking Spaces Limited has expanded its Mumbai footprint with a 182,300 sq ft managed office lease at The Square, a commercial development by Lloyds Realty Developers Ltd in Andheri (East). With this addition, Smartworks total portfolio in Mumbai has crossed 2 million sq ft, reinforcing its position in India's financial capital. The IGBC Gold pre-certified building is strategically located near Chhatrapati Shivaji Maharaj International Airport (T2) and key metro corridors, enhancing accessibility for enterprise occupiers. The expansion follows recent large-scale campus additions in Vikhroli and Navi Mumbai. The company said the move aligns with sustained enterprise demand for high-grade, flexible managed office spaces across Mumbai's prime commercial hubs.Read more

Mumbai News Desk

14 Feb 2026

The Brihanmumbai Municipal Corporation has intensified recovery action against large property tax defaulters in Mumbai by issuing attachment and seizure notices under the municipal law. The civic body has identified several major developers and entities with long-pending dues running into hundreds of crores. Officials have warned that movable assets may be seized first, followed by auction of properties if payments are not made. Property tax remains a key revenue source for civic services, and the BMC has urged defaulters to clear arrears through available payment mechanisms.Read more

14 Feb 2026

Alliance City Developers Realtors Pvt. Ltd. has performed the Bhoomi Pujan for Alliance Harmony, a boutique residential development in Matunga, marking the formal start of construction earlier this month. Located on Balkrishna Sule Marg, the project is positioned around a low-density living concept, offering one residence per floor with direct elevator access. The development will comprise spacious 3 BHK apartments and signature 4 BHK sky villas, designed to prioritise privacy, natural light, and cross ventilation. Backed by strong connectivity to educational institutions, transport nodes, and green open spaces, Alliance Harmony targets end-users seeking exclusivity in one of Mumbai's established residential micro-markets. With approvals in place and construction underway, the project adds to Alliance City's growing portfolio of redevelopment-led housing across central and western Mumbai, where demand remains skewed towards limited-supply, lifestyle-oriented developments.Read more

13 Feb 2026

Brihanmumbai Municipal Corporation (BMC) has initiated e-auction proceedings against six properties in Mumbai for non-payment of property tax amounting to INR 455.48 crore. The civic body also issued 21-day final notices to two additional defaulters in the Fort area of south Mumbai. The identified properties are located in Goregaon (West), Bandra (West), Dahisar, Parel, Mazgaon and Malad-Kurar village. Authorities said attachment and distraint action has been taken under provisions of the Mumbai Municipal Corporation Act. If dues remain unpaid after movable assets are auctioned, immovable properties will be put up for sale in compliance with statutory provisions and a Bombay High Court interim order.Read more

13 Feb 2026

Smartworks Coworking Spaces has taken another step to expand its footprint by signing a lease deed for additional capacity in Mumbai. The company disclosed that the expansion will require an investment of around INR 250 million. The move aligns with Smartworks ongoing strategy to grow its presence in key commercial markets where demand for flexible office space remains steady. Mumbai continues to be a core market for coworking operators due to sustained demand from enterprises and mid-sized firms seeking managed and flexible workspaces.Read more

13 Feb 2026

Oberoi Realty has announced that its joint venture firm, I-Ven Realty Ltd, has entered into agreements with Switzerland-based Aman Group to develop and manage a luxury hotel and branded residences project in Worli, Mumbai. The special purpose vehicle, which holds leasehold rights over a 4-acre land parcel on Dr Annie Besant Road, plans to construct an 80-room hotel and 150,000-200,000 sq ft (carpet area) of residential space for sale. Aman will manage the hotel under its brand for an initial 25-year term, extendable by 10 years. The residences will also be marketed and operated under the Aman brand. The hotel is expected to become operational in 2032.Read more

Mumbai News Desk

13 Feb 2026

Mumbai recorded 11,219 property registrations in January 2026, marking an 8 % year-on-year decline compared with the same month last year, according to data from the Maharashtra Inspector General of Registration. Despite the fall in volume, stamp duty collections increased by about 2 % to around INR 1,012 crore, underscoring steady transaction value in the city's real estate market. On a month-on-month basis, both registrations and stamp duty receipts eased, reflecting typical seasonal moderation in early calendar year activity. Analysts said the divergence between volume and revenue suggests sustained demand for higher-value homes, particularly in mid-to-premium segments, which has helped buoy government revenue despite fewer transactions overall. The data highlights ongoing resilience in Mumbai's residential property market amid evolving buyer preferences and broader economic conditions.Read more

Mumbai News Desk

12 Feb 2026

Actor and entrepreneur Sonu Sood has leased a commercial property in Mumbai to HDFC Bank at a monthly rent of INR 11.75 lakh, according to sources familiar with the transaction. The space, located in a prime commercial locality, will be used by the bank for its branch operations. The deal highlights ongoing demand from financial institutions for well-located office and retail addresses in Mumbai's key commercial corridors, even as hybrid work trends continue to shape occupier strategies. Leasing activity from corporate occupiers such as banks indicates sustained interest in physical touchpoints for customer engagement, complementing digital channels. Details on the size of the leased premises were not disclosed, but market participants said the rental quantum reflects premium pricing in the micro-market.Read more

Mumbai News Desk

12 Feb 2026

The Brihanmumbai Municipal Corporation has stepped up recovery of long-pending property tax dues by issuing attachment notices to several high-value defaulters across Mumbai. The action targets real estate developers and commercial entities with outstanding dues running into multiple crores, including one case exceeding INR 140 crore. The notices were issued after repeated reminders and final demand notices failed to yield results. Under civic law, the BMC can seize movable assets and proceed with property auctions if dues remain unpaid.Read more

Mumbai News Desk

12 Feb 2026

The Brihanmumbai Municipal Corporation (BMC) stopped construction of a transit camp in Worli after discovering it was being built on land reserved for a sewage treatment plant. Officials highlighted that critical sewer lines pass through the site, and construction had begun affecting sewage flow, raising risks of flooding during monsoon. A Slum Rehabilitation Authority (SRA) executive engineer is facing a criminal complaint for allegedly granting illegal approvals. The SRA has revoked permissions, and the developers must dismantle the transit structures, underscoring the importance of safeguarding Mumbai's ageing sewer infrastructure and reserved public land.Read more

Mumbai News Desk

12 Feb 2026

Mumbai's residential property market achieved its highest-ever stamp duty collections for January, led by larger and high-value homes, even as total registrations declined compared to last year. The surge reflects stronger demand in mid-to-premium segments and growing end-user confidence, supported by ongoing infrastructure development and stable economic conditions. Suburban areas, especially western and central suburbs, continued to dominate registrations. Homes sized up to 1,000 sq ft remained the most popular, while luxury homes above INR 5 crore also saw increased interest, signaling a structural shift in buyer preferences.Read more

Mumbai News Desk

11 Feb 2026

Standard Chartered Bank has sold a commercial office space in the Parinee Crescenzo tower at Mumbai's Bandra Kurla Complex (BKC) to Advanced Realty for INR 197 crore. The property has a chargeable area of 28,516 sq ft, carpet area of 27,003 sq ft, and 27 car parking slots, priced at about INR 69,084 per sq ft. The transaction reflects a wider trend of corporates monetising owned assets to unlock capital and adopt asset-light strategies, while BKC continues to be a highly preferred office micro-market with sustained investor and occupier interest.Read more

Mumbai News Desk

09 Feb 2026

The Brihanmumbai Municipal Corporation received only two bids for developing a helipad at the Worli jetty on a public private partnership (PPP) basis, showing limited private sector interest. The proposals came from JSW and Raymonds, both with experience in helicopter operations. The helipad will support medium-class helicopters for emergency medical evacuations, coastal surveillance, and VIP movement. The revenue-sharing PPP model requires the selected firm to pay BMC a fixed monthly sum of INR 1 lakh and a share of operational revenue, while also enhancing the site's aesthetics and ensuring aviation compliance.Read more

Mumbai News Desk

09 Feb 2026

The robotic parking tower near Mumbai's Mumbadevi temple, planned at INR 122 crore for 600 vehicles, remains stalled due to heritage and aesthetics concerns raised in mid 2024. The contractor, M/s SMS Limited, has issued a legal notice to the BMC seeking INR 55 crore in damages, citing unjustified suspension and mounting costs. BMC officials maintain that the project had no irregularities and warned of rising expenses, while local traders stress the need for the facility. The dispute highlights tensions between urban development and cultural preservation.Read more

Mumbai News Desk

09 Feb 2026

Mumbai's premium housing market recorded another high-value residential transaction as an ultra-luxury apartment in Worli was sold for INR 123.5 crore. The property was acquired by Radha Tanti, an angel investor and wife of Suzlon Energy's executive vice chairman. Located in the Artesia tower, the apartment offers a large carpet area along with a private balcony and multiple parking spaces. The deal reflects continued interest in limited high-end homes in central Mumbai despite a cautious buyer environment.Read more