13 Aug 2025

Mumbai's waste-to-energy plant at Deonar is expected to be delayed by a year, pushing its completion to October 2026. The contractor, M/s Chennai MSW Pvt Ltd, cited delays in obtaining statutory clearances, including environmental clearance and a consent to establish (CTE). The BMC is also facing a setback after a state authority directed it to reapply for an increase in the plant's power capacity. This delay highlights the challenges in implementing large-scale, environmentally sensitive projects and raises concerns about Mumbai's inadequate solid waste management.Read more

13 Aug 2025

The Mumbai Port Authority recently launched a long-term lease offering for 28 non-residential plots spanning more than 217 acres along Mumbai's eastern coast and Alibaug. Aiming to generate upwards of INR 800 crore per year, this move shifts focus from an earlier vision of a public waterfront development. Key parcels include areas near the cruise terminal, former HPCL and FCI sites, Sewri Timber Pond, and plots by the Trans Harbour Link. While the authority tests market interest, urban planners and activists warn that the opportunity for a vibrant, publicly accessible waterfront may be slipping away indefinitely.Read more

13 Aug 2025

The Navi Mumbai Municipal Corporation (NMMC) recently carried out a demolition drive in Airoli against unauthorised structures, following non-compliance with earlier notices issued under the Maharashtra Regional and Town Planning Act, 1966. Acting on the directives of the municipal commissioner and senior officials, the encroachment department demolished illegal buildings and roadside slums. Penalties amounting to INR 1,00,000 were collected from the violators, and the corporation affirmed its commitment to continuing strict anti-encroachment measures.Read more

13 Aug 2025

The new Belasis Bridge in Mumbai is set to open by December 31, 2025, ahead of its original deadline of April 2026. A 130-year-old British-era structure, the bridge was declared unsafe and demolished. The reconstruction, a joint project of the BMC and Western Railway, is now in its final stages. The new six-lane, cable-stayed bridge is designed to ease traffic congestion and improve connectivity between Nagpada and Tardeo, providing a much-needed upgrade to the city's aging infrastructure.Read more

13 Aug 2025

The Mumbai Metropolitan Region Development Authority (MMRDA) has begun dismantling cycle tracks in the Bandra-Kurla Complex (BKC) as part of a traffic management plan to ease severe congestion. The project, which involves removing a 9-kilometer stretch of tracks built in 2021 at a cost of nearly INR 60 crore, will convert existing 2+2 lane roads into 3+3 lanes. The decision, which will cost an estimated INR 25 crore to implement, was made after the tracks were found to be largely underutilized while traffic volume continued to swell, a situation exacerbated by the closure of the Sion bridge.Read more

13 Aug 2025

Deputy Chief Minister Shri Eknath Shinde has announced that trial runs for Mumbai Metro Line 4, from Wadala to Kasarvadavli, will begin in September, with commercial operations expected by year-end. Spanning 32.3 km and costing INR 14,500 crore, the line will have 32 stations and interchanges with Metro 2B, 5, and 6, boosting connectivity and reducing road congestion. The first phase, Wadala-Ghatkopar, is nearly complete, with track laying and system integration underway. Once fully operational, Line 4 is projected to carry over 8 lakh passengers daily, cutting travel time between south-central Mumbai and Thane and strengthening the city's metro network.Read more

12 Aug 2025

The promoter family of Blue Jet Healthcare has purchased three luxury apartments, including a duplex penthouse, in Worli, Mumbai, for a total of over INR 202 crore. The deal, which was registered on August 9, 2025, involved a total carpet area of 11,540 square feet in the Four Seasons Private Residences. This high-value transaction reinforces Mumbai's position as a prime market for real estate investment and ownership, especially among wealthy buyers and corporate executives looking for exclusive homes.Read more

12 Aug 2025

The Navi Mumbai Municipal Corporation (NMMC) has introduced amendments to its property transfer fee policy, aiming to simplify procedures and improve transparency. Approved by the Commissioner and Administrator, the revisions include a ready reckoner-based calculation system, reduced charges for inheritance transfers, and a revised deadline for late fee applicability. The updated structure incorporates clear mathematical methods, provisions for various document types, and specific rules for corporate ownership changes. The late fee provision will apply from October, giving property owners time to comply with the updated requirements.Read more

12 Aug 2025

The Mumbai Metropolitan Region Development Authority (MMRDA) has installed a 58-metre-long, 450-tonne steel span over the Pantnagar-Ghatkopar bus stand for Metro Line 4, completing the task in just two nights despite heavy rain, busy traffic, and limited space. Using high-capacity cranes, trailers, and other specialised equipment, over 100 workers and engineers, supported by traffic management teams, ensured safe execution. The Wadala-Kasarvadavali Metro Line 4 is now 84.5% complete. This milestone marks a major step toward enhancing connectivity and cutting travel times across the Mumbai Metropolitan Region, with MMRDA crediting government agencies for their cooperation in delivering the challenging operation.Read more

11 Aug 2025

Brookfield Asset Management has expanded its footprint in Mumbai, acquiring another floor in Godrej BKC for INR 370.25 crore under the IBC process. Exercising its right of first refusal, Brookfield now controls three contiguous floors-about 250,000 sq ft-along with parking rights and Jet Airways' former board seat for the building. The deal comes amid surging BKC rents, now INR 650-700 per sq ft per month. Brookfield's earlier two floors, bought in 2020, are leased to tenants like World Bank and PayPal. The firm has also secured a prime two-acre plot in BKC, reinforcing its long-term strategy in Mumbai's premium office market.Read more

11 Aug 2025

Mumbai recently hosted the curtain raiser for the upcoming NAREDCO National Convention, set to take place in New Delhi later this month under the theme Resilient India: Inclusive, Sustainable, and Future-Ready. The event will bring together policymakers, industry leaders, and technology experts to discuss urban transformation, housing redevelopment, and sustainable growth. Inspired by Mumbai's redevelopment and affordable housing models, the convention will focus on RERA reforms, ease of doing business, rental housing, green construction, and technology adoption. With over 800 delegates expected, sessions will address financing, infrastructure, urban mobility, and liveability standards, aiming to shape policy and encourage innovation in India's real estate sector.Read more

11 Aug 2025

The International Finance Corporation (IFC) has committed USD 150 million as an anchor investor in HDFC Capital's newly launched H-DREAM Fund, a USD 1 billion initiative targeting affordable and mid-income housing projects across India. The fund, managed by HDFC Capital Advisors, aims to support the construction of over 25,000 green-certified homes following EDGE standards. With this investment, IFC expects to mobilise an additional USD 850 million from global and domestic institutional investors. This move aligns with India's growing housing demand and contributes toward its estimated USD 1.4 trillion green buildings opportunity by 2030, with a strong focus on the residential sector.Read more

11 Aug 2025

India's largest real estate developer, DLF Ltd, is set to invest INR 23,500 crore towards completing its ongoing residential projects across Delhi-NCR and Mumbai. With a strong liquidity position, including INR 10,429 crore in cash and INR 37,220 crore in customer receivables, the company is well-capitalized for this construction drive. Recent launches like DLF Privana North in Gurugram and a premium project in Mumbai have already seen complete sell-outs, significantly contributing to record-breaking sales bookings. DLF is targeting INR 20,000-22,000 crore in bookings this fiscal, having already crossed INR 11,425 crore in the first quarter.Read more

11 Aug 2025

Arisinfra Solutions Ltd reported a 21% drop in net profit for the first quarter of FY26, attributing the dip to one-time public issue expenses. The company's revenue, however, rose by 11% year-on-year. A provisional order worth INR 40 crore was also secured by its subsidiary, ArisUnitern RE Solutions Pvt Ltd, indicating robust operational momentum. Excluding IPO-related costs, the company claims its adjusted PAT surpasses the entire previous fiscal's profit. This quarter marks a key milestone as the firm ramps up operations across the construction and real estate sectors.Read more

11 Aug 2025

Reliance Infrastructure's power distribution arms, BSES Yamuna Power Ltd and BSES Rajdhani Power Ltd, have received Supreme Court approval to recover INR 21,413 crore in regulatory assets over the next four years. This decision came as part of a broader directive where Delhi's three private discoms, including Tata Power Delhi Distribution Ltd, are allowed to recover a total of INR 27,200.37 crore. The court's judgment settles a decade-long dispute, mandating Electricity Regulatory Commissions to not only set recovery roadmaps but also audit the reasons behind the prolonged deferral.Read more

11 Aug 2025

The Reserve Bank of India recently released a draft circular proposing stricter timelines and penalties for banks that delay settling claims related to the accounts, lockers, or safe custody articles of deceased customers. The central bank suggested that banks must release funds to nominees without demanding succession certificates or court orders, provided there's no dispute and only basic documents are submitted. Delays would attract penalties interest at bank rate plus 4% for deposits, and INR 5,000 per day for lockers. Even non-nominee claims can be processed internally up to INR 15 lakh. Feedback on the draft is being invited before final guidelines are issued.Read more

11 Aug 2025

AU Small Finance Bank has received in-principle approval from the Reserve Bank of India to transition into a universal bank, making it the first small finance bank in nearly ten years to achieve this regulatory milestone. The approval was granted under the RBI's "on-tap" licensing framework after AU met all eligibility conditions, including financial soundness, governance standards, and operational performance. The move allows the bank to broaden its range of services and establish subsidiaries. Following the announcement, the bank's stock surged over 7%, reflecting positive investor sentiment.Read more

11 Aug 2025

Reliance Retail, India's largest retailer and part of Reliance Industries, has scaled up its capital expenditure by 37.5%, reaching INR 33,696 crore for FY2025-26. This surge aligns with its aggressive expansion strategy, including store rollouts, digital integration, and strengthening its FMCG presence. Revenue climbed to INR 3.3 lakh crore, backed by consumer electronics, grocery, and fashion segments. With nearly 19,340 stores, strategic partnerships with top global brands, and acquisitions of emerging Indian labels, the company has reinforced its leadership in both offline and online retail. It continues to lead in the omni-channel space, supported by platforms like JioMart and Milkbasket.Read more