30 Mar 2026

Sula Vineyards has entered into an agreement to acquire the Nashik-based wine estate of Moët Hennessy India, which operates the Chandon brand, in an asset deal valued at INR 20 crore. The acquisition includes a 19-acre property with a fully operational winery and hospitality infrastructure. The move will strengthen Sula's production capacity and expand its wine tourism presence in Nashik. Following the deal, Chandon will exit domestic wine production. The transaction is expected to be completed in the first quarter of FY27, subject to approvals.Read more

30 Mar 2026

Aditya Birla Real Estate Ltd has announced a redevelopment project in Mumbai through a joint venture with Parinee Group. The project is expected to unlock a development potential of around INR 1,700 crore. This move reflects the company's continued focus on expanding its urban redevelopment portfolio in key cities like Mumbai, where demand for modern housing and commercial spaces remains strong. Redevelopment projects have become a major growth driver for real estate firms due to limited land availability and increasing interest from housing societies seeking better infrastructure and living conditions.Read more

30 Mar 2026

Arvind SmartSpaces Ltd has entered the Mumbai redevelopment segment with a new housing society project in Santacruz, targeting a revenue potential of around INR 300 crore from the free sale component. The Ahmedabad-based developer disclosed in a regulatory filing that the project will offer an estimated saleable carpet area of 42,000 sq ft. The redevelopment aligns with the company's expansion strategy in the Mumbai Metropolitan Region (MMR), where supply of redevelopment opportunities continues to grow amid limited greenfield land availability. The project adds to the company's existing presence across key cities including Ahmedabad, Gandhinagar, Baroda, Bengaluru, MMR, and Pune, and reflects continued developer interest in unlocking value through urban redevelopment.Read more

30 Mar 2026

A special CBI court in Mumbai has convicted a retired bank manager and nine others in a home loan fraud case from the early 2000s involving the Central Bank of India. The accused were found guilty of fraudulently sanctioning 17 housing loans using forged documents and fake buyers, leading to losses of around INR 48.6 lakh. The main conspirators were sentenced to five years in jail along with fines, while the bank official received a one-year sentence. The case highlights gaps in loan verification processes and the long timeline of financial crime investigations.Read more

Mumbai News Desk

30 Mar 2026

The long-delayed Kamathipura cluster redevelopment in Mumbai is finally set to move forward, with a work order expected shortly and construction likely to begin within the next two months. Led by MHADA, the project will cover over 700 old buildings and rehabilitate around 8,000 residents into 500 sq ft homes. The plan had been stalled for more than a decade due to administrative and planning issues but has now reached the execution stage after key approvals and contractor appointments, bringing clarity to one of the city's oldest redevelopment projects.Read more

29 Mar 2026

Navi Mumbai Municipal Corporation has undertaken demolition action against an unauthorised structure in the Nerul division after the property owner failed to comply with a statutory notice issued under Section 54 of the Maharashtra Regional and Town Planning Act, 1966. The construction, located in Nerul village, was found to be ongoing despite prior enforcement warnings. The action was executed under the direction of Municipal Commissioner Dr Kailas Shinde, with supervision from senior officials including Additional Commissioner Dr Rahul Gethe and Deputy Commissioner (Encroachment) Dr Kailas Gaikwad. The operation involved municipal staff, labourers and mechanised equipment, supported by police personnel. The civic body has stated that enforcement drives will continue to address unauthorised developments across its jurisdiction.Read more

28 Mar 2026

Navi Mumbai Municipal Corporation carried out demolition action against an unauthorised structure in the Koparkhairane division after the concerned party failed to respond to statutory notices. The action followed a notice issued under Section 54 of the Maharashtra Regional and Town Planning Act, 1966, served earlier this month. The partial demolition was conducted under the direction of Municipal Commissioner Dr Kailas Shinde, with supervision from senior civic officials. The enforcement drive involved municipal staff, police presence and the use of mechanised equipment. The civic body has indicated that similar enforcement actions will continue across its jurisdiction to address unauthorised constructions and ensure compliance with planning regulations.Read more

28 Mar 2026

Navi Mumbai Municipal Corporation's property tax amnesty scheme has recorded a strong response, with 5,744 defaulters clearing dues worth INR 20.15 crore within nine days of its launch. Introduced earlier this month, the scheme offers a 50 per cent waiver on late payment penalties for those settling outstanding dues in a lump sum. The initiative, valid until the end of March, covers residential, commercial, industrial, and vacant land properties. A significant share of payments has been made through digital channels, indicating growing adoption of online tax services. The civic body has extended operational hours, including on public holidays, to facilitate higher collections and encourage compliance.Read more

28 Mar 2026

CREDAI-MCHI recently organised a felicitation ceremony in Mumbai to honour the appointment of Mayor Ritu Tawde and Maharashtra Advocate General Dr. Milind Sathe. The event brought together senior government officials, legal experts, and real estate leaders to recognise the importance of these roles in shaping the city's development. It also served as a platform to discuss key urban and regulatory issues. The developers body highlighted its intent to work closely with policymakers to ensure structured growth, better infrastructure, and improved coordination between the government and the real estate sector across the Mumbai Metropolitan Region.Read more

Suhan Shetty, Industrialist and Founder of Rubics Group

28 Mar 2026

Redevelopment activity across central Mumbai is gaining momentum as younger homebuyers increasingly prioritise lifestyle-driven housing in established locations. Micro-markets such as Sion, Sewree Wadala, Parel Lalbaug and Worli are witnessing renewed interest, supported by infrastructure upgrades including metro expansion and coastal road connectivity. Data indicates a rising preference for smart homes and wellness-focused amenities, with such projects commanding price premiums. Redevelopment is enabling the conversion of ageing housing stock into modern residential developments within core city areas, offering proximity to business districts along with integrated lifestyle features. The trend reflects a shift in demand patterns, with end users seeking convenience, connectivity, and amenity-rich living environments.Read more

28 Mar 2026

The Navi Mumbai Municipal Corporation (NMMC) has intensified enforcement against property tax defaulters, directing officials to initiate attachment and auction proceedings for unpaid dues if not cleared by the end of the current financial year. Notices have been issued to over 3,600 defaulters across residential, non-residential, industrial and vacant land categories. The civic body has also introduced an amnesty scheme offering a 50 per cent waiver on late payment charges for those clearing dues in full within the stipulated deadline. With property tax forming a key revenue source, the administration has accelerated recovery efforts through both enforcement and incentive-based measures.Read more

Mumbai News Desk

27 Mar 2026

A probe by the Mumbai Metropolitan Region Development Authority (MMRDA) has found the Reliance Infrastructure-Astaldi joint venture responsible for the Metro Line 4 accident in Mulund that caused one death and injured three people. The report identified human error and lack of supervision as the main reasons behind the incident. It clarified that there was no flaw in design or materials. The authority imposed a penalty of INR 5 crore and initiated safety audits across Metro projects, highlighting concerns around execution practices and on-site monitoring.Read more

27 Mar 2026

Puravankara Ltd. has reported sales exceeding INR 800 crore at the launch of its first redevelopment project, Purva Estrella, located in Lokhandwala Circle, Andheri West. The initial phase saw approximately 85% of the launched inventory absorbed, indicating strong demand in Mumbai's redevelopment segment. The project offers 2, 3 and 4 BHK residences priced between INR 3 crore and INR 7 crore. The performance reflects increasing buyer preference for redevelopment-led housing backed by established developers. The launch marks the company's entry into Mumbai's redevelopment market, with further projects planned across key locations including Thane and South Mumbai.Read more

27 Mar 2026

The Brihanmumbai Municipal Corporation (BMC) has removed 33 structures that were obstructing the Versova Dahisar coastal road project, helping clear a key hurdle in its execution. The move is expected to support faster on-ground progress for the project, which is part of Mumbai's larger coastal road network. The stretch has faced delays due to land constraints, environmental concerns, and regulatory approvals. With physical obstructions now being addressed, the civic body is working to streamline construction and maintain timelines for improving connectivity across the western suburbs.Read more

Mumbai News Desk

27 Mar 2026

The Brihanmumbai Municipal Corporation (BMC) has issued a seven-day deadline for handing over a plot reserved for a fire station in Andheri West, highlighting delays in strengthening emergency infrastructure. The civic body has warned that it may begin acquisition proceedings if the land is not transferred within the given timeframe. The planned facility is important for improving fire response in one of Mumbai's most densely populated suburbs. The case reflects ongoing challenges in securing reserved public amenity plots and the need for faster coordination between authorities to implement city infrastructure plans.Read more

26 Mar 2026

Environmentalists in Navi Mumbai have raised serious concerns after laboratory tests indicated that three major flamingo lakes DPS Lake, NRI Lake, and T S Chanakya Lake have shown signs of high pollution and ecological imbalance. These wetlands, which support migratory flamingos and other biodiversity, appear to be affected by stagnant water, disrupted tidal flow, and contamination. Activists have highlighted weak regulatory oversight and ongoing urban pressures as key factors contributing to the situation, warning that continued degradation may further impact the region's fragile wetland ecosystem and its ecological functions.Read more

26 Mar 2026

Arkade Developers Ltd. has launched Arkade Evoke, a luxury residential project in Goregaon West with an estimated gross development value of INR 230 crore. Spread across 1.09 acres, the project comprises premium 2 and 3 BHK apartments and marks the developer's eighth project in the Goregaon-Malad corridor. The location benefits from connectivity through key transport infrastructure, including a nearby metro station. The launch reflects sustained demand for premium housing in established western suburbs, with a focus on design-led layouts and enhanced liveability features catering to evolving buyer preferences in Mumbai's residential market.Read more