14 Feb 2026

The Navi Mumbai Municipal Corporation (NMMC) has undertaken demolition action against an unauthorised construction in the Turbhe division, where a fourth-floor RCC structure was being erected without prior approval. During a site inspection at a residential property in Sector 5, Sanpada village, civic officials found that construction measuring about 9.40 metres by 5 metres was underway in violation of planning norms. Despite the issuance of a notice under Section 54 of the Maharashtra Regional and Town Planning Act, 1966, the work reportedly continued. Acting on senior-level directions, the civic body organised a demolition drive and removed the illegal structure. The operation was carried out under the supervision of senior officials, with police support and demolition equipment deployed. The corporation reiterated that enforcement against unauthorised constructions will be intensified across its jurisdiction.Read more

13 Feb 2026

Brihanmumbai Municipal Corporation (BMC) has initiated e-auction proceedings against six properties in Mumbai for non-payment of property tax amounting to INR 455.48 crore. The civic body also issued 21-day final notices to two additional defaulters in the Fort area of south Mumbai. The identified properties are located in Goregaon (West), Bandra (West), Dahisar, Parel, Mazgaon and Malad-Kurar village. Authorities said attachment and distraint action has been taken under provisions of the Mumbai Municipal Corporation Act. If dues remain unpaid after movable assets are auctioned, immovable properties will be put up for sale in compliance with statutory provisions and a Bombay High Court interim order.Read more

13 Feb 2026

Smartworks Coworking Spaces has taken another step to expand its footprint by signing a lease deed for additional capacity in Mumbai. The company disclosed that the expansion will require an investment of around INR 250 million. The move aligns with Smartworks ongoing strategy to grow its presence in key commercial markets where demand for flexible office space remains steady. Mumbai continues to be a core market for coworking operators due to sustained demand from enterprises and mid-sized firms seeking managed and flexible workspaces.Read more

13 Feb 2026

Oberoi Realty has announced that its joint venture firm, I-Ven Realty Ltd, has entered into agreements with Switzerland-based Aman Group to develop and manage a luxury hotel and branded residences project in Worli, Mumbai. The special purpose vehicle, which holds leasehold rights over a 4-acre land parcel on Dr Annie Besant Road, plans to construct an 80-room hotel and 150,000-200,000 sq ft (carpet area) of residential space for sale. Aman will manage the hotel under its brand for an initial 25-year term, extendable by 10 years. The residences will also be marketed and operated under the Aman brand. The hotel is expected to become operational in 2032.Read more

Mumbai News Desk

13 Feb 2026

Mumbai recorded 11,219 property registrations in January 2026, marking an 8 % year-on-year decline compared with the same month last year, according to data from the Maharashtra Inspector General of Registration. Despite the fall in volume, stamp duty collections increased by about 2 % to around INR 1,012 crore, underscoring steady transaction value in the city's real estate market. On a month-on-month basis, both registrations and stamp duty receipts eased, reflecting typical seasonal moderation in early calendar year activity. Analysts said the divergence between volume and revenue suggests sustained demand for higher-value homes, particularly in mid-to-premium segments, which has helped buoy government revenue despite fewer transactions overall. The data highlights ongoing resilience in Mumbai's residential property market amid evolving buyer preferences and broader economic conditions.Read more

Mumbai News Desk

12 Feb 2026

Actor and entrepreneur Sonu Sood has leased a commercial property in Mumbai to HDFC Bank at a monthly rent of INR 11.75 lakh, according to sources familiar with the transaction. The space, located in a prime commercial locality, will be used by the bank for its branch operations. The deal highlights ongoing demand from financial institutions for well-located office and retail addresses in Mumbai's key commercial corridors, even as hybrid work trends continue to shape occupier strategies. Leasing activity from corporate occupiers such as banks indicates sustained interest in physical touchpoints for customer engagement, complementing digital channels. Details on the size of the leased premises were not disclosed, but market participants said the rental quantum reflects premium pricing in the micro-market.Read more

Mumbai News Desk

12 Feb 2026

The Brihanmumbai Municipal Corporation has stepped up recovery of long-pending property tax dues by issuing attachment notices to several high-value defaulters across Mumbai. The action targets real estate developers and commercial entities with outstanding dues running into multiple crores, including one case exceeding INR 140 crore. The notices were issued after repeated reminders and final demand notices failed to yield results. Under civic law, the BMC can seize movable assets and proceed with property auctions if dues remain unpaid.Read more

12 Feb 2026

WeWork India Management Ltd has leased 46,000 sq ft of managed office space to Turner International India at its Airoli centre in Mumbai, accommodating more than 650 desks. The space has been launched as a fully managed office, underscoring continued occupier preference for flexible and plug-and-play workplace formats. Turner International India is the Indian arm of Turner Construction Company, a North America-based construction services firm, and the transaction highlights the role of managed workspaces in supporting project-driven and scalable operations. The deal also reflects the growing appeal of the Navi Mumbai & Thane office corridor, where Airoli has emerged as a cost-efficient alternative to traditional business districts, supported by improving connectivity and a widening commercial base. For WeWork India, the leasing reinforces steady demand from multinational occupiers seeking operational agility without long-term real estate commitments.Read more

Mumbai News Desk

12 Feb 2026

The Brihanmumbai Municipal Corporation (BMC) stopped construction of a transit camp in Worli after discovering it was being built on land reserved for a sewage treatment plant. Officials highlighted that critical sewer lines pass through the site, and construction had begun affecting sewage flow, raising risks of flooding during monsoon. A Slum Rehabilitation Authority (SRA) executive engineer is facing a criminal complaint for allegedly granting illegal approvals. The SRA has revoked permissions, and the developers must dismantle the transit structures, underscoring the importance of safeguarding Mumbai's ageing sewer infrastructure and reserved public land.Read more

Mumbai News Desk

12 Feb 2026

Mumbai's residential property market achieved its highest-ever stamp duty collections for January, led by larger and high-value homes, even as total registrations declined compared to last year. The surge reflects stronger demand in mid-to-premium segments and growing end-user confidence, supported by ongoing infrastructure development and stable economic conditions. Suburban areas, especially western and central suburbs, continued to dominate registrations. Homes sized up to 1,000 sq ft remained the most popular, while luxury homes above INR 5 crore also saw increased interest, signaling a structural shift in buyer preferences.Read more

Mumbai News Desk

11 Feb 2026

Standard Chartered Bank has sold a commercial office space in the Parinee Crescenzo tower at Mumbai's Bandra Kurla Complex (BKC) to Advanced Realty for INR 197 crore. The property has a chargeable area of 28,516 sq ft, carpet area of 27,003 sq ft, and 27 car parking slots, priced at about INR 69,084 per sq ft. The transaction reflects a wider trend of corporates monetising owned assets to unlock capital and adopt asset-light strategies, while BKC continues to be a highly preferred office micro-market with sustained investor and occupier interest.Read more

Mumbai News Desk

09 Feb 2026

The Brihanmumbai Municipal Corporation received only two bids for developing a helipad at the Worli jetty on a public private partnership (PPP) basis, showing limited private sector interest. The proposals came from JSW and Raymonds, both with experience in helicopter operations. The helipad will support medium-class helicopters for emergency medical evacuations, coastal surveillance, and VIP movement. The revenue-sharing PPP model requires the selected firm to pay BMC a fixed monthly sum of INR 1 lakh and a share of operational revenue, while also enhancing the site's aesthetics and ensuring aviation compliance.Read more

09 Feb 2026

The City and Industrial Development Corporation (CIDCO) of Maharashtra is driving an infrastructure-led approach to guide and stabilise urban growth across the state. Built on the vision of creating self-sufficient, well-planned cities, CIDCO focuses on integrating housing, transport, utilities and social infrastructure within unified master plans. Its flagship development, Navi Mumbai, continues to reflect this philosophy as the state faces rapid urban expansion. Current initiatives include coordinated transport networks, improved water supply systems and connectivity projects linked to major infrastructure such as the Navi Mumbai International Airport. Through planned growth across nodes like Panvel and Ulwe, CIDCO aims to balance urban scale with liveability, sustainability and long-term resilience.Read more

Mumbai News Desk

09 Feb 2026

The robotic parking tower near Mumbai's Mumbadevi temple, planned at INR 122 crore for 600 vehicles, remains stalled due to heritage and aesthetics concerns raised in mid 2024. The contractor, M/s SMS Limited, has issued a legal notice to the BMC seeking INR 55 crore in damages, citing unjustified suspension and mounting costs. BMC officials maintain that the project had no irregularities and warned of rising expenses, while local traders stress the need for the facility. The dispute highlights tensions between urban development and cultural preservation.Read more

Mumbai News Desk

09 Feb 2026

Mumbai's premium housing market recorded another high-value residential transaction as an ultra-luxury apartment in Worli was sold for INR 123.5 crore. The property was acquired by Radha Tanti, an angel investor and wife of Suzlon Energy's executive vice chairman. Located in the Artesia tower, the apartment offers a large carpet area along with a private balcony and multiple parking spaces. The deal reflects continued interest in limited high-end homes in central Mumbai despite a cautious buyer environment.Read more

09 Feb 2026

The Mumbai Port Authority (MbPA) has received bids from five companies, including the Adani Group's Cemindia Projects Ltd and Larsen & Toubro, for the development of a marina at Cross Island, off the Gateway of India. The INR 887 crore project, partially funded by MbPA with an investment of INR 470 crore, will include docking facilities, yacht maintenance services, fuel supply, and protection against weather. Onshore, a 4.2-hectare land parcel will house a 322-room five-star hotel, a club, a sailing school, restaurants, a business centre, and parking for 780 vehicles.Read more