Tag: Bandra

IndustryLatest Stories

Runwal Enterprises Wins ₹5,000-Crore Marine Lines Project

MUMBAI: Realty developer Runwal Enterprises has secured redevelopment rights for two significant land parcels totaling four acres in Marine Lines and Bandra, with a gross development value exceeding Rs 5,000 crore. These projects will operate under the cluster redevelopment plan in line with Regulation 33(9) of the Development Control and Promotion Regulations (DCPR), which the state government encourages to boost large-scale urban renewal and infrastructure projects. Subodh Runwal, director of Runwal Enterprises, stated, “These agreements are for the redevelopment of two private housing societies on premium land parcels, including rights for the Marine Lines project, which has been stalled for…

Latest StoriesResidential

Alkem Labs Founder’s Parents Buy ₹63 Crore Penthouse in Bandra

MUMBAI: A septuagenarian couple, Satish Kumar Singh and Premlata Singh, parents of Alkem Laboratories founder Sandeep Singh, have purchased Khar-Bandra’s most expensive penthouse for Rs 63 crore. This sale marks the highest rate for a non-sea facing apartment in Bandra. Dubbed a ‘villa in the sky’, the residence boasts private terraces and a spacious double-height living room. “It truly gives the vibe of a villa in the sky,” according to a source. This luxurious penthouse is situated in S Raheja’s Evergreen Tower on Perry Road, Bandra West, reflecting the growing appetite for single-unit luxury homes in one of Mumbai’s most…

IndustryLatest Stories

Keystone Realtors’ ₹3,000 Crore Housing Project in Mumbai Next Month

NEW DELHI: Keystone Realtors, a prominent real estate firm, is set to unveil a super luxury residential project in Mumbai next month, projected to generate approximately ₹3,000 crore in revenue, according to a senior company official. Based in Mumbai, Keystone Realtors operates under the Rustomjee brand and is recognized as one of India’s leading real estate developers. In a recent interview with PTI, Boman Irani, Chairman and Managing Director of Keystone Realtors, expressed a strong optimism regarding housing demand. He is confident that the sales bookings target of ₹4,000 crore for the current fiscal year will easily be met. The…

IndustryLatest Stories

Mumbai Housing Societies Toughen Stance on Builders in Redevelopment

MUMBAI: Traditionally, developers have wielded considerable influence in the real estate market. However, housing societies planning redevelopment are now shifting dynamics in their favor. With builders eager to secure redevelopment rights, these societies are negotiating aggressively, often making “unrealistic demands” for their properties. Market insiders report that housing societies are seeking additional space, hardship compensation, and relocation amounts that exceed prevailing market standards by as much as 15%–25%. Alongside standard area matching and displacement compensations, many are requesting excess amenities and significant hardship payments per member. Some expectations extend beyond what’s feasible, with societies demanding extensive additional area, substantial displacement…

Latest StoriesRegulatory

Fraud Claims Arise in ₹600 Crore Bandra Marina Manor Case

MUMBAI: A legal battle over the ownership of the prized Marina Manor estate on Bandra’s Bullock Road, estimated to be worth Rs 600 crore, has escalated into a web of accusations involving fraud, forgery, and intimidation. Marina Manuel Fernandes, who faces accusations of fabricating a will to assert her claim on the estate, has filed a police complaint and sought to retract a Power of Attorney given to a notable builder and a political figure. According to Marina, she has been a victim of systematic fraud. Her claim to the estate is also contested, following a Bombay High Court ruling…