Advertisement
27 Mar 2025
Cricketer Suryakumar Yadav and his wife, Devisha Yadav, have acquired two luxury apartments in Deonar, Mumbai for INR 21.1 crore. The units, located in Godrej Sky Terraces, span a combined carpet area of approximately 4,222.7 sq. ft. and come with six designated parking spaces. The transaction, registered on March 21, incurred a stamp duty of INR 1.26 crore and a registration fee of INR 30,000. The project, covering 1.05 acres, has recorded 25 sales worth INR 202 crore in the past year, with an average price of INR 52,433 per sq. ft. Deonar offers strong connectivity via the Chembur railway station, Mumbai Monorail, and key expressways. Meanwhile, other notable real estate transactions in Mumbai include Zaheer Khan's INR 11 crore apartment purchase in Elphinstone Road and Rohit Sharma's Lower Parel property rental for INR 2.6 lakh per month.
27 Mar 2025
Bollywood actress Huma Qureshi and her brother Saqib Saleem have leased a 3,370 sq ft luxury villa in Equest Condominium on Juhu Tara Road, Mumbai, for a monthly rent of INR 10 lakh, according to property registration documents. The villa, owned by Impact Films Pvt Ltd, includes an additional 2,654 sq ft basement, four car parking slots, a swimming pool, and a garden. The rental agreement, registered on February 25, 2025, is for 60 months with a 48-month lock-in period, a security deposit of INR 30 lakh, and a 10% rent escalation after 36 months. Juhu remains a Bollywood hotspot, home to several film stars and recent high-value property deals.
27 Mar 2025
Western Railway is set to clear encroachments on a 15,000 sq. meter prime plot in Bandra (East) near the Western Express Highway, earmarked for long-term infrastructure projects. While the land will not be used for commercial purposes, it is reserved for future expansion of railway activities. The plot, currently divided by a nullah and partially encroached upon, has suffered damage due to the dumping of construction debris. Officials highlighted that these squatters will soon be relocated following due process. Previously, the Railways conducted anti-encroachment drives in 2022, but illegal occupants returned. The land, valued at approximately INR 150 crore, remains crucial for upcoming railway development in Mumbai.
26 Mar 2025
Aruna Babulal Varma, the wife of Omkar Realtors' promoter Babulal Varma, purchased a high-end apartment at Four Seasons Private Residences in Mumbai's upscale Worli locality for INR 68 crore, as revealed by property registration documents. The apartment spans 5,291 sq ft, featuring an additional 310 sq ft balcony and an exclusive area of 922 sq ft. The transaction was reportedly registered at a rate of INR 1.29 lakh per sq ft. Stamp duty of INR 3.42 crore and a registration fee of INR 30,000 were paid for the acquisition. The sale was made by Providence Land Private Limited. Worli continues to attract premium real estate deals, including a recent record-breaking sale by Macrotech Developers.
26 Mar 2025
The Special Investigation Team (SIT) has arrested a senior city survey officer and a clerk in Goregaon, Mumbai, for allegedly manipulating land records to enable illegal property transfers. The officials reportedly altered ownership details to benefit private parties, leading to financial losses and legal disputes for genuine owners. This case highlights the growing issue of land fraud in Mumbai, especially in high-demand areas like Goregaon. Similar scams have surfaced in Bengaluru and Hyderabad, prompting stricter government measures like digitization and blockchain-based land records to prevent corruption and ensure transparency in property transactions.
26 Mar 2025
A 3,000 sqm open space in Mumbai's Vakola, initially meant for public use, has been reclaimed after a 12-year battle against illegal encroachment by hawkers. The prolonged effort, led by former corporator Brian Miranda and supported by residents and volunteers, aimed to restore the plot for community use. The Brihanmumbai Municipal Corporation (BMC) recently demolished illegal structures on the site, which had been occupied for years. Miranda's campaign faced multiple legal and bureaucratic hurdles, including a Supreme Court ruling that reinforced the space's designation as a public amenity. The plot has now been transformed into a vibrant garden and children's play area.
26 Mar 2025
The Mumbai Metropolitan Region Development Authority (MMRDA) is advancing plans for Metro Line 14, a 45 km corridor linking Kanjurmarg to Badlapur, enhancing connectivity to Mumbai's eastern suburbs. Currently in the Detailed Project Report (DPR) phase, construction is expected to commence within a year. The line will pass through key areas like Ambernath and Dombivli, reducing congestion and travel time. Environmental assessments and regulatory approvals are underway. This expansion aligns with Mumbai's broader metro development strategy, promising improved suburban mobility, increased real estate investments, and reduced vehicular pollution, supporting sustainable urban growth.Read more
26 Mar 2025
The Mumbai Metropolitan Region Development Authority (MMRDA) has clarified that fewer than 4,000 trees will be felled for the proposed Metro 9 car depot at Uttan, Mira Bhayandar. This clarification follows earlier reports suggesting nearly 10,000 trees would be cut, which had sparked significant backlash from environmentalists and locals. MMRDA officials stated that the initial figures represented two separate proposals submitted to the Mira Bhayandar Municipal Corporation (MBMC), but only 3,716 trees would ultimately be axed, while the rest would be transplanted or spared. Despite this reduction, concerns remain about the ecological impact and the transparency of the process.
26 Mar 2025
Ravi Puravankara, founder and chairman of Puravankara Ltd, has acquired 12 commercial units in Business Park 2, Church Road, Marol, Andheri, Mumbai, for a total of INR 242 crore. The purchases were made through RockFort Estate Developer Pvt Ltd and registered on March 19, 2025. The units ranged from 6,749 to 9,998 square feet, with prices between INR 15.65 crore and INR 23.19 crore per unit. This acquisition aligns with Puravankara's investment strategy via its family office. The company continues to strengthen its portfolio, having recently secured prime land in Bengaluru and Thane for large-scale residential and mixed-use developments.
Advertisement
Private equity has played a significant role in shaping Indi...
In today’s real estate landscape, fitness is often treated...
In this episode of Prop Personalities, we sit down with Hars...
Luxury real estate is one of the most talked-about segments ...
Welcome to Prop Personalities by Prop News Time - a podcast ...
26 Mar 2025
The Bombay High Court has dismissed a petition by stable owners in Versova, Mumbai, allowing the long-pending Ramdas Nagar slum rehabilitation project to proceed. The petitioners, occupying the land for over six decades, challenged eviction notices issued by the BMC in 2024. However, the court ruled that unauthorized occupants cannot dictate terms to landowners or developers. The decision accelerates the redevelopment plan led by One Stop Business Services LLP, which had faced delays due to resistance from 11 remaining structures. This ruling reinforces legal compliance in urban redevelopment and sets a precedent against unauthorized settlements obstructing infrastructure projects.
26 Mar 2025
Etonhurst Capital Partners has raised over INR 180 crore in the first closing of its INR 500 crore fund focused on redevelopment projects in Mumbai. The round saw participation from family offices, HNIs, and The Guardian Real Estate Advisory's family office. The capital will support construction, regulatory approvals, and marketing to ensure smooth project execution. With many of Mumbai's aging residential structures requiring urgent redevelopment, Etonhurst plans to deploy over 60% of the funds within the year, targeting high-demand urban zones. Registered as a Category II AIF with SEBI, the firm aims to close the fund by end-2025 and scale up to INR 2,000 crore.
26 Mar 2025
25 Mar 2025
The Bombay High Court upheld the closure order against a suburban mall for failing to secure environmental clearance, highlighting the severity of its ecological impact. The court rejected the company's plea, affirming that applying for clearance under an amnesty scheme did not justify ongoing operations. It directed the Maharashtra Pollution Control Board to enforce the closure immediately. The bench ruled that pending applications did not override legal obligations, reaffirming the necessity of strict environmental compliance.
25 Mar 2025
The Brihanmumbai Municipal Corporation (BMC) is developing a mobile app and tracking system to monitor the movement of construction and demolition (C&D) waste from collection to disposal, aiming to curb illegal dumping in water bodies, mangroves, and open spaces. Under the auto-development Control Regulations (DCR) system, applicants for construction or repair permissions must declare the waste volume and select an approved dump site. The system tracks debris movement and time slots and requires truck drivers to upload images during collection and dumping. Site operators must update the system with the quantity dumped. The initiative also supports two underutilized C&D processing plants, as BMC seeks to reduce reliance on unregulated debris handlers and promote responsible waste disposal through designated facilities.
25 Mar 2025
Mumbai's iconic Laxmi Nivas bungalow, located on Nepean Sea Road, has been sold for INR 276 crore, making it one of the city's most expensive property transactions. Once a secret refuge for freedom fighters during the Quit India Movement, the 19,891 sq ft colonial bungalow was sold by the Kapadia family to Vageshwari Properties Pvt. Ltd., linked to Elina Nikhil Meswani of Reliance Industries. Built in 1904 and owned by the Kapadia family since 1917, the property holds significant historical value and development potential of around 45,000 sq ft. This sale adds to a series of high-value real estate deals in Mumbai's luxury market.Read more
25 Mar 2025
The Brihanmumbai Municipal Corporation (BMC) has proposed changes to the reservation status of 60 land parcels between Goregaon and Dahisar to facilitate phase two of the Mumbai Coastal Road project. These adjustments, part of the Development Plan 2034, affect plots in Eksar, Malad (West), Malvani, Pahadi (Goregaon), Charkop, and Dahisar, aligning them with upcoming infrastructure needs. The 25-kilometre Coastal Road phase 2, costing INR 20,000 crore, will connect the Versova-Bandra Sea Link to Dahisar, with integration planned for the Goregaon-Mulund Link Road. The BMC is inviting public suggestions and objections within a 30-day window, followed by a public hearing.Read more
25 Mar 2025
The National Stock Exchange (NSE) is set to transform its current Bandra-Kurla Complex (BKC) headquarters into a captive data hub and relocate its primary offices to a newly allotted one-acre site in G Block, BKC, on an 80-year lease. This move supports NSE's expansion and plans for a modern headquarters to be completed within three years. The current Exchange Plaza building, historically significant for Mumbai's financial shift from Nariman Point to BKC, will continue housing key IT and listing services. NSE's expansion reflects its global stature as a leading derivatives exchange, focused on technological innovation and strengthening India's financial infrastructure.
24 Mar 2025
The G-North ward office of the Brihanmumbai Municipal Corporation (BMC) is contemplating relocating the iconic Dadar Kabutarkhana due to longstanding complaints from local residents regarding health hazards linked to pigeon droppings and feathers. Residents have raised concerns about respiratory ailments and skin conditions, especially among children and the elderly. The civic body is considering relocating the structure to a less congested area with fewer residential buildings. However, there is resistance from the Kabutarkhana trust, which maintains that the structure is part of Dadar's identity and denies any serious health risks.Read more
Advertisement
