25 Apr 2025

Mumbai's western suburbs, particularly the Malad-Goregaon corridor, have emerged as key residential hotspots, capturing 41% of Greater Mumbai project launches this year. Driven by a shift towards holistic, wellness-focused living, these areas blend affordability with modern convenience, proximity to workspaces, and enhanced lifestyle amenities. Developments increasingly incorporate nature-centric designs and health-focused features, aligning with the preferences of today's urban homebuyers. With the state budget identifying Goregaon as a future economic growth hub, the region is witnessing robust demand from both first-time buyers and luxury seekers, solidifying its place as the new centre of aspirational living.Read more

25 Apr 2025

India's real estate sector attracted USD 26.7 billion in equity inflows between 2022 and 2024, with Mumbai leading at USD 6.9 billion, according to a CII-CBRE report. Delhi-NCR and Bengaluru followed, with the three metros accounting for 62% of total investments. Land and development sites drew the highest share at 44%, while built-up office assets secured 32%. Tier-II cities gained traction, attracting USD 3 billion, driven by industrial growth and infrastructure upgrades. Institutional investors contributed 33% of the capital. With strong fundamentals and ongoing reforms, the sector is poised for sustained growth, appealing to a diverse mix of global and domestic investors.Read more

25 Apr 2025

Aamir Khan's residence in Mumbai's Pali Hill is being redeveloped into a luxury housing project by Atmosphere Realty, a joint venture between MICL, Wadhwa Group, and Chandak Group. The Virgo CHS, where Khan owns 12 flats, will be replaced with upscale 4 and 5 BHK sea-view apartments priced above INR 1 lakh per sq ft. Set for launch by December 2025, the project includes a rehab section for current residents. Khan recently bought another Pali Hill property worth over INR 9 crore. Despite a slowdown in the ultra-luxury segment, developers are confident in the project's success amid strong demand in premium locations.Read more

25 Apr 2025

In a landmark ruling, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) declared that a flat worth INR 2.6 crore received by an individual as compensation for vacating land during a redevelopment project is a non-taxable capital receipt. The case involved a legal settlement between the individual and a redeveloper over a South Mumbai property. Tax authorities had initially treated the flat's value as taxable income, but the ITAT overturned this view, citing the nature of the compensation as a resolution to a land-related nuisance, thereby excluding it from the individual's taxable income.Read more

25 Apr 2025

Mumbai-based VC firm A91 Partners has closed its third fund at USD 665 million, reaffirming its focus on growth-stage investments in Indian startups across consumer, healthcare, financial services, and industrial sectors. Founded in 2018 by ex-Sequoia Capital India executives, the firm typically invests USD 50 million in expansion-ready ventures, with past bets on Digit Insurance, Atomberg, and Push Health. A91's latest fund signals investor confidence in India's long-term potential, despite recent funding slowdowns. The move aligns with a broader trend of successful VC fundraising, including Accel's USD 650 million Fund VIII and Stellaris USD 300 million fund, highlighting ongoing momentum in India's startup ecosystem.Read more

25 Apr 2025

The Navi Mumbai Municipal Corporation (NMMC) undertook decisive action against unauthorized constructions in Nerul and Belapur. Despite prior notices, violators failed to comply, prompting demolition under the guidance of Commissioner Dr. Kailas Shinde. In Nerul, an illegal mezzanine structure was removed and an INR 10,000 fine was imposed. Similarly, 72 unauthorized huts behind the Sector-20 cemetery in Belapur were cleared. The operations were carried out with the support of engineering staff, laborers, machinery, and police.Read more

24 Apr 2025

The Maharashtra State Archives has launched four heritage trail handbooks tracing colonial and local history from Bandra to Vasai. Led by director Dr. Rucha Deo, the project covers trails through Bandra, Andheri-Dahisar, Mira-Bhayandar, and Bassein, highlighting forts, churches, markets, and East Indian villages. Developed with support from institutions like St Xavier's College and JJ School of Architecture, the booklets include QR-mapped locations, architectural sketches, and oral histories. Officials aim to integrate these trails into tourism and educational initiatives, helping residents reconnect with Mumbai's overlooked suburban heritage. Digital editions are also planned to widen access and revive community interest.Read more

24 Apr 2025

Mumbai will soon have its first dedicated bird park since Independence, with the state government approving BMC's INR 80 crore proposal to set up an aviary-themed public space in Mulund, near Sanjay Gandhi National Park. Spread over 4.4 acres in Nahur, the park will house 206 birds from 18 species-including ostriches, macaws, and hornbills-within a 10,859 sq m enclosure. The project aims to boost biodiversity awareness and recreation in the eastern suburbs. Construction is expected to begin later this year and finish by late 2026, easing pressure on Byculla Zoo and expanding public learning spaces.Read more

24 Apr 2025

The Bombay High Court has directed the BMC to demolish an unauthorized community hall built by Akhil Bhatwadi Sarvajanik Utsav Mandal on a Ghatkopar plot reserved for a playground. The court found BMC and MHADA approvals invalid, ordered demolition within a week, and held civic officials accountable for inaction. It also criticized the trust's misuse of court injunctions and referred its lawyer to the Bar Council for misconduct. The court reaffirmed that reserved open spaces must be preserved, signaling strict enforcement of urban planning norms and a crackdown on illegal constructions that strain civic infrastructure.Read more

24 Apr 2025

Akshay Kumar has sold an office space in Lower Parel, Mumbai for INR 8 crore, earning a 65% return on his 2020 purchase of INR 4.85 crore. Located in the upscale One Lodha Place project, the 1,146.88 sq ft office also included two parking spots. The deal, registered in April 2025, involved a stamp duty of INR 48 lakh. Earlier this year, he sold a Borivali flat and a luxury Worli apartment for impressive profits. His success highlights growing celebrity interest in commercial property, especially in prime areas like Lower Parel.Read more

24 Apr 2025

The underground bullet train station at Bandra-Kurla Complex (BKC) is 75% complete, marking key progress in the Mumbai-Ahmedabad high-speed rail project. Major construction activities, including raft casting and tunneling, are advancing steadily. Of the 21-km tunnel, 16 km will use Tunnel Boring Machines, with the rest built using NATM. Over 3,300 piles have been installed, and work on viaducts and bridges is ongoing across Maharashtra and Gujarat. The corridor is expected to significantly boost mobility in the Mumbai Metropolitan Region. Real estate activity in BKC is already heating up, with developers and investors anticipating a sharp rise in demand ahead of the project's planned 2028 completion.Read more

23 Apr 2025

Central Railway has successfully dismantled all seven girders of the century-old Sion Road Over Bridge (ROB), a key step in adding the 5th and 6th railway lines between Kurla and Parel. The final girder, in place since 1912, was removed during a five-hour block on Sunday. The ROB, a crucial east-west link connecting Dharavi, LBS Marg, and the Eastern Express Highway, was closed earlier, causing traffic congestion on alternate routes like the Santacruz-Chembur Link Road. The dismantling supports Mumbai's rail network expansion to ease commuter load. Plans for a new bridge are underway, with broader upgrades across Mumbai's railway infrastructure in progress.Read more

23 Apr 2025

Eleven lakes in Malad will be rejuvenated over the next two years as part of 'Project Mumbai,' Union Minister Piyush Goyal announced. Phase 1 has already begun with five lakes, while Phase 2 will cover six larger, more degraded waterbodies. The initiative includes desilting, sewage diversion, and the creation of walking paths, seating zones, and biodiversity improvements. Lakes like Lotus Talao, Hanuman Nagar Talao, and Somnath Talao are among those listed. With support from over 500 companies, officials aim to complete the work by 2026, making this north Mumbai's largest multi-lake restoration effort to date.Read more

23 Apr 2025

Oberoi Realty Ltd reported a 31% jump in sales bookings, reaching INR 5,266 crore in FY 2024-25, up from INR 4,007 crore the previous year. The Mumbai-based luxury developer sold 928 units, compared to 705 in FY24, with total carpet area sold rising by 19% to 12.81 lakh sq ft. The strong performance reflects sustained demand for premium housing, particularly in Mumbai. With upcoming projects in Borivali, Thane, and Goregaon, and a focus on mixed-use developments, Oberoi Realty is well-positioned to benefit from India's positive economic outlook and growing interest in high-end homeownership.Read more

23 Apr 2025

The Bombay High Court has ordered Neelkamal Realtors Suburban Pvt Ltd to complete and hand over eight buildings to MMRDA in Mahajanwadi under the defunct Rental Housing Scheme (RHS). The buildings-comprising around 3,000 residential and commercial units-were to be built on 25% of the plot using 1 FSI, in exchange for 3 FSI for free-sale buildings. While the developer built and sold 26 buildings, it failed to deliver the MMRDA units. The court rejected Neelkamal's plea to shift to a newer housing policy, reinforcing that public welfare obligations under RHS must be honoured despite scheme discontinuation.Read more

23 Apr 2025

After a 2.5-year closure, Mumbai's historic Carnac Bridge near Masjid Bunder will reopen on June 7, 2025. The INR 41.3 crore reconstruction replaces the 1866 British-era structure and aims to decongest key trading routes linking Crawford Market, P D'Mello Road, and CST. The new 70m steel girder bridge was installed in January 2025 during carefully timed railway blocks. Final touches, including road surfacing and safety fittings, are underway. Originally shut in 2022 due to safety concerns flagged in 2018, the revamped bridge is expected to restore crucial connectivity for traders and commuters and ease pressure on detour-heavy routes like Kalbadevi and Princess Street.Read more

23 Apr 2025

MMRDA has achieved a major milestone for Mumbai's Metro Line 7A with TBM 'Disha' completing a 1.67-km underground tunnel between Gundavali and the airport. The 3.4-km corridor, part of the Red Line 7 extension, includes elevated and underground sections and aims to boost east-west connectivity through key interchanges with Lines 2, 3, 6, and 9. Currently 59% complete, the metro line is expected to be operational by December 2025. Officials say this link will ease airport traffic and cut travel time. CM Shri Devendra Fadnavis hailed it as a step forward in strengthening Mumbai's infrastructure and commuter mobility.Read more