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SC Delays Work Order Issuance for Bandra, Worli Projects to Aug 13

MUMBAI: In a significant relief to residents of housing societies in prime areas like Bandra Reclamation and Worli, the Supreme Court has temporarily halted the issuance of work orders for cluster redevelopment projects covering 132 acres of land in Mumbai until August 13. The state government claimed that these expansive layouts belong to the Maharashtra Housing and Area Development Authority (Mhada), which had leased them to societies intended for high- and middle-income groups as well as government employees. The intention is to redevelop these areas to increase affordable housing options through public bidding, which was awarded to Adani Properties. A…

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Excel Infra to Invest ₹250 Crore on New Mumbai Project

NEW DELHI: Excel Infra Construction announced on Monday its plan to invest ₹250 crore in a new housing project in Mumbai. The company revealed that it has initiated a luxury residential project at Bandra Reclamation, backed by an investment of ₹252 crore. Funding will be sourced from a combination of equity and Alternative Investment Fund (AIF) structured as non-convertible debentures. Excel Infra anticipates a revenue of ₹400 crore from this initiative, which features a 33-storey residential tower comprising 96 units. The apartments in the ‘Bellissima’ project are priced at ₹51,500 per square foot. “With a strategically planned investment and the…