Mumbai News Desk

01 Apr 2026

Two directors of Mumbai-based Ajanta Airawat Infrastructure LLP have been arrested by the Economic Offences Wing (EOW) for allegedly defrauding a non-resident Indian (NRI) investor of around INR 10.5 crore. The case relates to investments made over several years in a real estate project in Bhandup, Mumbai, where the complainant had initially invested INR 1.5 crore and later extended a loan of INR 6 crore. A subsequent settlement agreement promising repayment with interest or allocation of flats was not honoured. The accused have been remanded to judicial custody. The case highlights recurring risks in informal real estate financing arrangements and disputes linked to project-level obligations and investor protection.Read more

01 Apr 2026

MMRDA has achieved top rankings in Maharashtra's governance programs, highlighting its commitment to efficiency, transparency, and citizen-focused services. The authority was awarded first place in the 150 days Sevakarmi Plus Program and ranked fourth in the E-Governance Reform Program, with evaluations based on personnel development, service rule compliance, and innovative digital governance. The commendations were presented by Chief Minister Devendra Fadnavis to Dr. Sanjay Mukherjee. This recognition underscores the team's dedication, innovation, and leadership in shaping a more digitally connected and efficient Mumbai Metropolitan Region.Read more

01 Apr 2026

The Atal Setu, India's longest sea bridge, has surpassed 20 million vehicle crossings since its opening in January 2024. Serving as a key link between Sewri in South Mumbai and Chirle in Navi Mumbai, the bridge has reduced travel time from nearly an hour to under 20 minutes. Private cars make up over 91% of total traffic, with buses, trucks, and commercial vehicles also contributing significantly. Beyond easing commutes, Atal Setu has boosted commerce, cut fuel costs, and become a vital infrastructure lifeline for the Mumbai Metropolitan Region, demonstrating the impact of modern connectivity.Read more

Mumbai News Desk

01 Apr 2026

The Brihanmumbai Municipal Corporation (BMC) has launched a pilot to apply cool roof coating on selected municipal buildings in the G/South ward to reduce indoor heat as the city faces rising temperatures. The reflective Solar Reflective Paint contains additives like titanium dioxide that bounce sunlight off roofs, lowering heat absorption. The project targets buildings including schools and staff quarters, with initial results guiding potential citywide expansion. Similar technologies have been used in industrial structures and other Indian cities to effectively reduce rooftop temperatures.Read more

Mumbai News Desk

01 Apr 2026

Mumbai's underground Aqua Line metro, spanning 33.5 km and 27 stations from Aarey JVLR to Cuffe Parade, built at an estimated INR 37,000 crore, is showing signs of wear within months of phased openings in late 2024 and late 2025. Commuters report cracked tiles, detached marble panels, leaks, damp walls, plumbing failures, malfunctioning elevators, and unsafe staircases. Several stations also have accessibility challenges and foul odours, raising concerns over construction quality, waterproofing, and long-term maintenance. Rider discomfort and safety risks are adding to questions about durability and operational standards.Read more

Mumbai News Desk

31 Mar 2026

The Brihanmumbai Municipal Corporation has approved selling treated wastewater from its Colaba Sewage Treatment Plant to private entities, creating a new revenue stream and conserving freshwater. About 3 million litres per day will be supplied at a concessional rate to projects including construction and landscaping. The plant has a total capacity of 37 MLD, with tertiary treatment for 10 MLD. While some civic members prefer using treated water for municipal purposes like cleaning and watering gardens, the move highlights a growing focus on resource efficiency and partial cost recovery for STP operations.Read more

31 Mar 2026

Oil and Natural Gas Corporation has commenced gas production from its Daman Upside Development Project (DUDP) in the Arabian Sea, marking a key addition to domestic energy supply. The offshore project, located around 180 km north-west of Mumbai and 80 km south of Pipavav, Gujarat, has started monetisation through a newly commissioned platform. The development is expected to produce 21.5 billion cubic metres of gas, with peak output projected at 5 million standard cubic metres per day. Executed within two years, the project includes multiple wellhead platforms and pipeline infrastructure connecting to the Hazira processing facility, supporting India's efforts to enhance energy security amid global supply uncertainties.Read more

Mumbai News Desk

31 Mar 2026

Actor Madhuri Dixit has leased a commercial office unit in Lower Parel, Mumbai, with a total rental commitment of approximately INR 2.81 crore over a five-year tenure. The transaction, registered recently, involves a 731 sq ft unit in a premium office development and includes a structured rental escalation of 5% annually. The agreement also comprises a security deposit of INR 17 lakh along with statutory charges. Located in one of Mumbai's key commercial micro-markets, the deal reflects sustained demand for Grade-A office assets despite evolving occupier dynamics. The transaction highlights continued interest from high-net-worth individuals in leasing premium commercial space within established business districts.Read more

Mumbai News Desk

31 Mar 2026

A sessions court in Mumbai overturned a magistrate's earlier dismissal and directed criminal proceedings against senior Maharashtra Anti-Corruption Bureau (ACB) officers, including retired officials, for failing to register an FIR in a major MHADA case worth INR 14,000 crore. The complaint, filed by activist Kamlakar Shenoy, alleged that officers deliberately delayed action and avoided legal duties, appearing to protect MHADA officials involved in the irregularities. The court emphasized that neglect of statutory duties by public servants can amount to a criminal offence and ordered proper recording of evidence and issuance of process against the accused.Read more

Mumbai News Desk

31 Mar 2026

The 750-metre extension of the Mrinaltai Gore Flyover in Goregaon, Mumbai, which began nearly eight years ago, is now around 80% complete and expected to open by mid-May 2026. Originally estimated at INR 170.82 crore, the project's cost has risen to INR 247 crore due to design changes, added noise barriers, resurfacing work, and delays caused by congested traffic, COVID-19 labor shortages, and site-specific constraints. Civic leaders have raised concerns over budget escalation and planning gaps, while residents anticipate that the extension will significantly ease traffic congestion along Western Express Highway and Link Road.Read more

30 Mar 2026

Sula Vineyards has entered into an agreement to acquire the Nashik-based wine estate of Moët Hennessy India, which operates the Chandon brand, in an asset deal valued at INR 20 crore. The acquisition includes a 19-acre property with a fully operational winery and hospitality infrastructure. The move will strengthen Sula's production capacity and expand its wine tourism presence in Nashik. Following the deal, Chandon will exit domestic wine production. The transaction is expected to be completed in the first quarter of FY27, subject to approvals.Read more

30 Mar 2026

Aditya Birla Real Estate Ltd has announced a redevelopment project in Mumbai through a joint venture with Parinee Group. The project is expected to unlock a development potential of around INR 1,700 crore. This move reflects the company's continued focus on expanding its urban redevelopment portfolio in key cities like Mumbai, where demand for modern housing and commercial spaces remains strong. Redevelopment projects have become a major growth driver for real estate firms due to limited land availability and increasing interest from housing societies seeking better infrastructure and living conditions.Read more

30 Mar 2026

Arvind SmartSpaces Ltd has entered the Mumbai redevelopment segment with a new housing society project in Santacruz, targeting a revenue potential of around INR 300 crore from the free sale component. The Ahmedabad-based developer disclosed in a regulatory filing that the project will offer an estimated saleable carpet area of 42,000 sq ft. The redevelopment aligns with the company's expansion strategy in the Mumbai Metropolitan Region (MMR), where supply of redevelopment opportunities continues to grow amid limited greenfield land availability. The project adds to the company's existing presence across key cities including Ahmedabad, Gandhinagar, Baroda, Bengaluru, MMR, and Pune, and reflects continued developer interest in unlocking value through urban redevelopment.Read more

30 Mar 2026

A special CBI court in Mumbai has convicted a retired bank manager and nine others in a home loan fraud case from the early 2000s involving the Central Bank of India. The accused were found guilty of fraudulently sanctioning 17 housing loans using forged documents and fake buyers, leading to losses of around INR 48.6 lakh. The main conspirators were sentenced to five years in jail along with fines, while the bank official received a one-year sentence. The case highlights gaps in loan verification processes and the long timeline of financial crime investigations.Read more

Mumbai News Desk

30 Mar 2026

The long-delayed Kamathipura cluster redevelopment in Mumbai is finally set to move forward, with a work order expected shortly and construction likely to begin within the next two months. Led by MHADA, the project will cover over 700 old buildings and rehabilitate around 8,000 residents into 500 sq ft homes. The plan had been stalled for more than a decade due to administrative and planning issues but has now reached the execution stage after key approvals and contractor appointments, bringing clarity to one of the city's oldest redevelopment projects.Read more

28 Mar 2026

CREDAI-MCHI recently organised a felicitation ceremony in Mumbai to honour the appointment of Mayor Ritu Tawde and Maharashtra Advocate General Dr. Milind Sathe. The event brought together senior government officials, legal experts, and real estate leaders to recognise the importance of these roles in shaping the city's development. It also served as a platform to discuss key urban and regulatory issues. The developers body highlighted its intent to work closely with policymakers to ensure structured growth, better infrastructure, and improved coordination between the government and the real estate sector across the Mumbai Metropolitan Region.Read more

Suhan Shetty, Industrialist and Founder of Rubics Group

28 Mar 2026

Redevelopment activity across central Mumbai is gaining momentum as younger homebuyers increasingly prioritise lifestyle-driven housing in established locations. Micro-markets such as Sion, Sewree Wadala, Parel Lalbaug and Worli are witnessing renewed interest, supported by infrastructure upgrades including metro expansion and coastal road connectivity. Data indicates a rising preference for smart homes and wellness-focused amenities, with such projects commanding price premiums. Redevelopment is enabling the conversion of ageing housing stock into modern residential developments within core city areas, offering proximity to business districts along with integrated lifestyle features. The trend reflects a shift in demand patterns, with end users seeking convenience, connectivity, and amenity-rich living environments.Read more