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

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

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

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

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

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

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

Sohail Khan has leased his commercial property in Bandra's Gasper Enclave to The Irish House for five years, earning an estimated rental income of INR 10.3 crore. The 1,290.57 sq. ft. unit commands a monthly rent of INR 16.89 lakh for the first three years, rising to INR 17.73 lakh for the final two. The agreement includes a security deposit of INR 60 lakh and attracted a stamp duty of INR 2.67 lakh. Originally purchased in 2009 for INR 3.11 crore, the property reflects strong asset appreciation in Bandra-a prime location increasingly leveraged by celebrities amid booming real estate demand.Read more

Mr. Sanjay Daga, CEO and Managing Director of Anex Advisory

06 May 2025

Mumbai, once cherished as Bombay the city of dreams is now grappling with urban strain marked by crumbling infrastructure, outdated housing, and unchecked congestion. With nearly 40% of its population living in slums and an overburdened transport system, the demand for resilient urban development has never been more urgent. Redevelopment is emerging as a compelling answer, promising upgraded infrastructure, modern amenities, and economic upliftment. As infrastructure projects like the Coastal Road and Metro Line 3 align with this momentum, the city's skyline and socio-economic dynamics could see transformative change if challenges such as regulatory hurdles and community displacement are addressed holistically.Read more

06 May 2025

Dawat-e-Hadiyah, the Dawoodi Bohra community's administrative arm, has acquired Killick House, a Grade 1 heritage structure in Mumbai's Fort area, for over INR 72 crore. Spread across 27,577 sq ft, the property-once headquarters of Killick Nixon Ltd-was purchased from Nippon Investment and Finance Co. in early 2025 via four agreements. This follows the trust's 2017 purchase of Fort House for INR 300 crore. Situated next to Cathedral School on Hornby Road, Killick House exemplifies colonial-era architecture. The acquisition highlights Dawat-e-Hadiyah's ongoing efforts to safeguard Mumbai's historical landmarks amid rapid urban development, reinforcing community-led heritage conservation in India's financial capital.Read more

06 May 2025

Indian cricketer Yuzvendra Chahal has leased a 1,399 sq ft luxury apartment in Andheri West, Mumbai for INR 3 lakh per month, with a two-year agreement and a 5% rent hike after the first year. The Transcon Triumph property is owned by actress and former Miss World India Natasha Suri. The move follows Chahal's recent divorce from Dhanashree Verma and reflects a growing trend of cricketers investing in Mumbai's high-end real estate. With premium amenities and proximity to studios and business hubs, Andheri West remains a prime choice for celebrities and athletes seeking upscale, well-connected urban residences.Read more

06 May 2025

MHADA is set to redevelop its Bandra East headquarters through a public-private partnership (PPP), replacing the current office with a multi-storey commercial tower near BKC. The selected developer will construct MHADA's new offices free of cost in exchange for rights to lease or sell a portion of the commercial space. The site's proximity to BKC and Bandra station positions it as a prime redevelopment opportunity within Mumbai's urban renewal zone. Once land ownership clearances are obtained, the project will proceed. MHADA may extend this model to other high-value properties, using commercial redevelopment to fund future affordable housing initiatives.Read more