13 May 2025

CREDAI-MCHI hosted a seminar earlier this week at its Mumbai office to shed light on the implications of the recent Bombay High Court ruling concerning GST relief for homeowners in redevelopment projects. The panel featured industry experts, including Mr. Sunny Bijlani, Joint Secretary of CREDAI-MCHI, Mr. Rohit Jain, Deputy Managing Partner at Economic Laws Practice (ELP), and Mr. Harsh Shah, Partner at ELP. The court ruled that GST is not applicable where developers are appointed for redevelopment without the sale or transfer of development rights (TDR) or Floor Space Index (FSI). The judgement quashed a tax demand under Entry 5B of the relevant GST notification, emphasising that redevelopment agreements limited to construction do not involve the transfer of TDR or FSI under Maharashtra's Unified DCPR.Read more

13 May 2025

Indian Hotels Company Ltd (IHCL) has joined forces with United Way Mumbai to carry out daily beach clean-up and waste management activities in Mumbai. This initiative, aimed at promoting sustainable waste management practices, involves the deployment of Safai Sathis at Mahim Reti Bunder and Mahim Causeway. Over a six-month period, from October 2024 to March 2025, the project successfully collected 1,12,097.37 kgs of waste, which was processed at a Material Recovery Centre (MRC). IHCL's collaboration underscores the importance of public-private partnerships in addressing environmental challenges while contributing to a cleaner Mumbai.Read more

13 May 2025

The Charkop elevated road bridge project, aimed at improving east-west connectivity in Mumbai's western suburbs, has had its completion deadline extended to June 2027, according to MMRDA. Originally slated for end-2025, the 3.4-km bridge connecting Malvani and Charkop faced delays due to design changes and utility relocation challenges. Executed by J Kumar Infraprojects at a cost of INR 620.15 crore, the project required revisions to align with existing infrastructure and safely shift underground utilities. Once complete, the bridge is expected to ease congestion on Link Road and improve travel times for thousands of commuters between Borivali and Malad.Read more

13 May 2025

The Bombay High Court has permitted the BMC to construct a 50-metre-wide road through mangrove buffer zones in Malad West, citing compliance with environmental regulations and public necessity. The project, affecting 3.5 hectares and 37 mangrove trees, had received clearances from both the MCZMA and the Ministry of Environment. The court referred to a 2018 Supreme Court ruling that allowed such projects if proposed before the order and with due approvals. With legal and environmental approvals in place, the BMC is now set to proceed with the long-pending infrastructure work aimed at improving connectivity while implementing mitigation measures to limit ecological damage.Read more

12 May 2025

Mumbai Police's Economic Offences Wing (EOW) has filed an FIR against 13 individuals-including five contractors, three middlemen, and five current or former BMC officials-in a desilting scam involving fake documents and inflated bills worth INR 66.5 crore. The accused allegedly submitted forged MoUs and agreements to falsely claim silt dumping at sites that were either unsuitable or non-existent, some even signed by deceased individuals. The scam, spanning February 2021 to December 2023, resulted in civic funds being misused. The case underscores serious lapses in municipal oversight, prompting calls for stricter audits and real-time verification in public infrastructure contracts. Further arrests are expected.Read more

12 May 2025

The Maharashtra Housing and Area Development Authority (MHADA) is set to launch a lottery for approximately 5,200 affordable homes in Mumbai around Diwali 2025. These homes will be available across various income categories, including Economically Weaker Section (EWS), Lower Income Group (LIG), Middle Income Group (MIG), and High Income Group (HIG). The application process will be entirely online, with further details regarding pricing, locations, and schedules to be announced in the coming months.Read more

12 May 2025

Bollywood star Ajay Devgn has leased a 2,545 square foot office space for INR 5.47 lakh a month in Andheri West, Mumbai. The five-year lease, registered earlier this month, involves a security deposit of INR 16.42 lakh. The rental agreement includes a clause for an increase to INR 6.29 lakh per month after three years. This transaction is part of Devgn's broader investment in commercial real estate, having acquired five office units in the Signature by Lotus building for INR 45.09 crore in April 2023. The current lease is with Bombay Design Centre Pvt Ltd.Read more

09 May 2025

The Uttan-Virar Sea Link (UVSL) Phase-1, spearheaded by the Mumbai Metropolitan Region Development Authority (MMRDA), is progressing rapidly with a revised layout that promises to revolutionise northern Mumbai's infrastructure. Originally conceptualised as the Versova-Virar Sea Link, the project was reorganised into phases after being handed over from MSRDC to MMRDA in late 2022. The first phase, connecting Uttan to Virar, was approved for implementation earlier this week, while the second phase awaits feasibility clearance. With modern engineering features, international funding, and socio-economic benefits spanning connectivity, investment, safety, and sustainability, UVSL is poised to become a transformative link in the region.Read more

08 May 2025

Singer and TV personality Rahul Vaidya, along with his parents, has sold two residential apartments in Mumbai's Oshiwara area for a total of INR 5 crore. The flats, located in the Samartha Aangan project near Lokhandwala, were registered in April 2025. One unit measuring 1,102 sq. ft. sold for INR 3 crore, while the second, at 743 sq. ft., fetched INR 2 crore. Both deals included standard stamp duty and registration charges. Vaidya, known for his music career and reality TV appearances like Indian Idol and Bigg Boss 14, continues to maintain a notable presence in the entertainment industry.Read more

08 May 2025

Following public outcry over the narrowing and lowering of Walkeshwar Road in Malabar Hill, the BMC has issued a stop-work notice to developer Dilip Chunilal Chandan and architect Preeti Kashyap Barai. The April 26, 2025 notice cites unauthorized construction at a site on CS 156, which reportedly lacks proper approvals as per amended building plans. The BMC has halted all work until the City-I Building Proposal Department reviews concerns about the altered road level and reduced width. The developer has been given 24 hours to present valid permissions or face demolition and removal of materials. Local police have been instructed to enforce the order immediately.Read more

08 May 2025

Savarkar Sadan, the historic residence of Vinayak Damodar Savarkar near Shivaji Park in Mumbai, is likely to be demolished and redeveloped. Built in 1938, the structure has deteriorated due to internal damage, prompting residents-some of whom have already sold their units to a developer-to support redevelopment. The bungalow holds deep historical significance, having hosted figures like Subhas Chandra Bose and Nathuram Godse. Over time, it was expanded under the TDR scheme. Currently, a small museum run by the Savarkar Trust operates on the ground floor. The Trust aims to retain and expand the museum in the new building while preserving the legacy by retaining the name 'Savarkar Sadan'.Read more

07 May 2025

The BMC has penalized a contractor INR 75 lakh after substandard materials and poor curing were found on Khar West's 34th Road during a surprise inspection. The contractor had falsely certified the road as complete, with further investigation revealing weak concrete, undersized aggregates, and missing compaction tests. Additional Municipal Commissioner Abhijit Bangar called the failure systemic, fining not just the contractor but also the quality monitoring agency and municipal staff. The incident raises questions about the enforcement of BMC's quality checks, especially as the city aims to concrete 400 km of roads by May 31 under a high-profile infrastructure drive.Read more

07 May 2025

The Konkan Housing and Area Development Board, under MHADA, has launched a new digital platform called 'Book My Home,' enabling buyers to directly select from 13,395 unsold flats across the Mumbai Metropolitan Region under the First Come, First Serve (FCFS) scheme. Flats located in Virar, Khoni, Shirgaon, Gothivare, and Bhandarli, priced between INR 17 lakh and INR 30 lakh, can now be booked in real-time with floor and unit selection. The Aadhaar and PAN-based registration process is fully online and digitally verified. The initiative aims to improve transparency, reduce delays, and activate dormant inventory amid growing demand for affordable housing in peripheral Mumbai.Read more

07 May 2025

In April 2025, Mumbai's real estate market recorded 12,142 property transactions-a 4% annual increase and the highest April figure in 13 years. Despite a 6% drop in stamp duty revenue, residential demand remained dominant, comprising 80% of transactions. Premium properties gained traction, with deals above INR 2 crore rising to 25% of total sales. While compact homes led in volume, demand for larger apartments also showed resilience. Central and South Mumbai witnessed a slight increase in market share, reflecting renewed interest. This robust performance signals enduring end-user confidence, supported by stable interest rates and expanding infrastructure across the city.Read more

07 May 2025

Mumbai may soon witness the construction of its first underground railway corridor, linking Chhatrapati Shivaji Maharaj Terminus (CSMT) to Parel. Spanning over 17.5 km in two phases, the project is projected to cost around INR 3,000 crore and aims to decongest the city's Central Railway line. Railway authorities have initiated a feasibility study, which includes soil testing and survey work. If approved, the corridor could significantly improve passenger flow, particularly during peak hours, with trains running 25 metres below ground. The project is currently at a conceptual stage, pending further approvals and financial evaluations.Read more