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15 Apr 2025
The Maharashtra government is set to launch the 'Mumbai 1' unified travel card, enabling seamless access to Metro, Monorail, suburban trains, and buses across the Mumbai Metropolitan Region. Chief Minister Shri Devendra Fadnavis and Railway Minister Ashwini Vaishnaw announced that the system backend will be ready within a month. Vaishnaw highlighted ongoing railway projects in the state worth INR 1.73 lakh crore, including 238 new AC trains for Mumbai. Additionally, the Gondia-Ballarshah rail line received INR 4,019 crore in funding to improve Vidarbha's connectivity. The state also unveiled the Shivaji Maharaj Circuit Train to promote heritage tourism, aligning mobility upgrades with cultural preservation.Read more
15 Apr 2025
The Maharashtra government is exploring the possibility of transforming the 25-acre reclaimed land at the Mulund dumping ground into a golf course. The state's Urban Development Department, at the Chief Minister's directive, has instructed the Mumbai Metropolitan Region Development Authority (MMRDA) to conduct a feasibility study. This move is being seen as part of a larger plan to repurpose vast plots of rehabilitated landfill sites into sustainable urban projects. While BMC will remain the landowner, MMRDA has been asked to draft a development plan, and discussions are underway to ensure that the project aligns with environmental and recreational goals.Read more
15 Apr 2025
CREDAI-MCHI's Ease of Doing Redevelopment 2.0 concluded on April 12 at Jio World Convention Centre with over 3,000 housing societies and 40+ developers participating. Key highlights included live consultations, expert workshops, and policy discussions focused on stalled projects, legal reforms, and FSI clarity. MHADA's Sanjeev Jaiswal emphasized the impact of Section 91A and 79A amendments. Industry leaders advocated trust, transparency, and realistic expectations. MahaRERA's new tracking portal was also unveiled to monitor redevelopment progress. The event marked a paradigm shift in Mumbai's approach to urban renewal, empowering societies with tools and partnerships to rejuvenate over 16,000 aging buildings.Read more
14 Apr 2025
The Mumbai Central Division of Western Railway has achieved a record-breaking revenue of INR 4,485 crore in FY 2024-25, its highest ever. Passenger services, freight operations, AC local trains, and station-based services such as parking and catering contributed significantly to this growth. With passenger revenue alone exceeding INR 3,782 crore, the performance reflects rising ridership, infrastructure upgrades, and digital ticketing initiatives. The strong financials signal sustained momentum in transport infrastructure efficiency and commercial viability in the Mumbai Metropolitan Region.Read more
11 Apr 2025
In a push to accelerate slum redevelopment across Maharashtra, the state cabinet approved key amendments to the Maharashtra Slum Area (Reform, Elimination and Rehabilitation) Act, 1971. The revisions shorten the timeline for submitting redevelopment proposals, empower authorities to reassign projects if deadlines are missed, and streamline land leasing for joint ventures in the Mumbai Metropolitan Region (MMR). New provisions will also address non-participation by slum dwellers and delayed rent payments by developers. These amendments aim to fast-track the state's goal of becoming slum-free while ensuring better enforcement and accountability in rehabilitation schemes.Read more
11 Apr 2025
The Supreme Court dismissed a special leave petition filed by the Airports Authority of India (AAI) against a Bombay High Court judgment that permitted increased building heights in a slum rehabilitation project in Chembur, Mumbai. The High Court had directed AAI to issue a No Objection Certificate (NOC) for the height clearance after an appellate committee had already approved the plan. AAI argued it would face hardships without reversing the HC verdict, but the apex court refused to interfere. The project involves 30 towers, including rehabilitation and free-sale buildings, developed under a joint venture.Read more
11 Apr 2025
The Brihanmumbai Municipal Corporation (BMC) recorded its highest-ever capital expenditure of INR 36,900 crore in FY 2024-25, reflecting a 57% surge from the previous year's outlay of INR 23,520 crore. This sharp jump in spending was primarily directed toward big-ticket infrastructure projects like the Goregaon-Mulund Link Road (GMLR), the Mumbai Coastal Road, and hospital redevelopment. Simultaneously, BMC's revenue income rose to a record INR 43,847 crore, backed by strong growth in property tax and development charges. Despite the robust financials, the civic body's fixed deposits saw a slight decline due to planned drawdowns to support its infrastructure commitments.Read more
11 Apr 2025
The Maharashtra Government has agreed to act as guarantor for an INR 10,000 crore loan extended by Power Finance Corporation Ltd (PFCL) to fund infrastructure projects across the Mumbai Metropolitan Region (MMR). A Government Resolution issued earlier this week confirmed the cabinet’s nod to this financial arrangement for the 2024–25 fiscal. Although a new guarantee is being issued due to the previous financial year closing, it remains subject to further cabinet clearance. The Mumbai Metropolitan Region Development Authority (MMRDA), designated as the principal borrower, is responsible for monthly updates to the finance and urban development departments. Overall, the state has permitted MMRDA to borrow up to INR 60,000 crore, of which guarantees for INR 24,000 crore have already been extended.Read more
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11 Apr 2025
Months after the announcement of MMR as a global economic growth hub, the Maharashtra government has yet to assign implementing agencies for several key projects under this initiative. The Mumbai Metropolitan Region Development Authority (MMRDA) has identified 35 major infrastructure and redevelopment works to transform MMR into a USD 300 billion economy by 2050. These include logistics parks, transit-oriented development, tourism infrastructure, and slum rehabilitation. However, a lack of agency allocation is delaying implementation. Although the state has made some progress, gaps remain, especially in redeveloping 2.2 million slum dwellings and coordinating between central and state bodies.
11 Apr 2025
The Brihanmumbai Municipal Corporation (BMC) plans to issue a fresh eviction notice to 675 tenants of Century Mills in Worli, asking them to vacate within 15 days. This follows claims from tenants that they never received the original notice sent in February 2025. The move is linked to a redevelopment plan for the INR 660 crore plot, leased to Century Textiles and Industries Ltd. in 2005. There remains no clarity on tenant rehabilitation, despite past legal disputes and a 2022 Bombay High Court ruling supporting BMC's stand.
09 Apr 2025
The National Stock Exchange (NSE) has acquired an additional plot, C-82 in Bandra-Kurla Complex (BKC), Mumbai, for INR 758.09 crore from MMRDA to expand its operations. The newly allotted 5,500 sq. meter plot will support the construction of a 22,000 sq. meter built-up area. This move is part of NSE's broader plan to enhance its presence in Mumbai's financial hub and align with global regulatory standards. The expansion will include administrative offices and data centers, adding to the exchange's existing facilities at G Block, which houses NSE's headquarters and regulatory infrastructure.
09 Apr 2025
The Bombay High Court has stayed the handover of a plot on St Paul Road in Bandra (W) to the century-old Salsette Catholic Cooperative Housing Society after a dispute emerged over the sale of flats to non-Roman Catholic Christians. Justice Amit Borkar noted the potential for irreversible prejudice to the petitioners, who are heirs of the original lessee. The society, formed in 1918, had terminated a 998-year lease after flats in the redeveloped building were sold to non-Catholics. The HC will now hear the matter fully, questioning the relevance of religious restrictions under cooperative laws amid changing jurisprudence on equality and secularism.
09 Apr 2025
In a landmark ruling, the Maharashtra Real Estate Appellate Tribunal (MREAT) has directed Wadhwa Constructions to register its Trade Centre project in Mumbai's Bandra Kurla Complex (BKC) with MahaRERA, citing the absence of a full Occupation Certificate (OC) despite partial OCs granted in 2008. The tribunal overturned MahaRERA's earlier exemption and imposed a penalty of INR 5 lakh, ordering registration within 60 days. This decision could significantly impact approximately 700 buildings in Mumbai holding only partial OCs, reinforcing that such projects are considered ongoing under RERA provisions.
09 Apr 2025
The BMC is seeking clearance to cut over 60,000 mangrove trees for the northward extension of Mumbai's Coastal Road project. This extension, covering approximately 9.6 km from Versova to Dahisar, is expected to ease traffic congestion in the western suburbs. While the BMC has pledged to replant mangroves and conduct compensatory afforestation, environmentalists have flagged serious concerns over ecological damage. The extension will connect major arterial roads like the Link Road, SV Road, and Western Express Highway, significantly reducing travel time for commuters in northwestern Mumbai.
09 Apr 2025
The Commissioner of Metro Rail Safety has begun inspecting the 6-km BKC to Acharya Atre Chowk stretch of Mumbai Metro Line 3, marking the final step before commercial launch. This section, with six key stations including Dadar and Worli, is part of the 20-km Phase I corridor from Aarey to Acharya Atre Chowk. Safety checks cover structures, tracks, electrical systems, fire safety, and tunnel ventilation-including a complex tunnel under the Mithi River. Trial runs have been completed, but the launch date is yet to be announced. Once operational, the line will ease road traffic, boost connectivity in central Mumbai, and offer fares ranging from INR 10 to INR 60.Read more
08 Apr 2025
The recent hike in ready reckoner rates (RRR) has raised concerns in Mumbai's real estate sector, pushing the city's home affordability index to 51%, above the critical 50% mark. Higher RRR means increased property prices, stamp duties, and developer premiums, making affordable housing harder to build. While government schemes like PMAY support low-cost homes, developers now face tighter margins. However, projects under MHADA are less affected, as their pricing is based on actual development costs, not RRR. MHADA also offers fixed registration and low stamp duty fees, keeping homes accessible for low- and middle-income groups. Prices for already allotted MHADA homes will remain unchanged despite the rate hike.Read more
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