Tag: Mumbai

IndustryLatest Stories

MHADA to Accelerate Redevelopment in Mumbai, Pune, Nashik

Sure! Here’s a rewritten version of the content: NEW DELHI: Redevelopment and brownfield projects in prime urban locations have significantly boosted the real estate sector in Maharashtra over the last two years, as stated by Anil Wankhede, Deputy CEO of the Maharashtra Housing and Area Development Authority (MHADA). In an exclusive interview with Ankit Sharma, Wankhede emphasized that MHADA is concentrating on redeveloping aging housing layouts in cities like Mumbai, Pune, and Nashik, alongside formulating policies to enhance rental housing and expedite the redevelopment of older structures. He indicated that there remains a robust demand for affordable housing through MHADA’s…

Latest StoriesResidential

Maharashtra Minister to Discuss First-Floor Slum Rehab with CM, DCMs

MUMBAI: Maharashtra Minister Shambhuraj Desai announced on Thursday that there will be discussions with the Chief Minister and Deputy Chief Ministers regarding the demand to include first-floor slum dwellers for rehabilitation under the Slum Rehabilitation Authority (SRA) schemes in Mumbai. State Assembly members raised concerns about long-term residents residing on the first floors of slum structures, stating that excluding them would hinder the efforts to achieve a slum-free Mumbai. Under current regulations, only ground-floor structures are recognized and numbered for SRA project eligibility, Desai explained during the question hour. “If we are to consider changes, such as recognizing ‘one plus…

Latest StoriesResidential

Mumbai: MHADA Misplaced ₹121 Crore in Rent Over 25 Years

MUMBAI: The Maharashtra Housing and Area Development Authority (MHADA) has reportedly been defrauded of over Rs 121 crore in a scheme spanning 25 years. The Kherwadi police have initiated a case against ten developers and firms for neglecting to pay rent for transit tenements designated for redevelopment projects. Given the considerable financial implications and the extended duration of the fraud, the case has now been forwarded to the Economic Offences Wing (EOW) for further investigation. The complaint was lodged by Mohan Raosaheb Bobade, a MHADA officer, following an internal audit of rental payments associated with the transit tenements leased to…

Latest StoriesRegulatory

Mumbai Court Grants Anticipatory Bail to Mazgaon Developer

MUMBAI: A Session Court has granted anticipatory bail to developer Munaf Vadgama and four of his relatives accused in a case of cheating and criminal breach of trust related to a redevelopment dispute in Mazgaon. Additional Session Judge Avinash P. Kulkarni permitted anticipatory bail, stating that if Sajida Munaf Vadgama, Aslam Ismail Merchant, Munaf Kadar Vadgama, and Tausif Hanif Shaikh are arrested, they should be released on bail concerning the case registered at Sir J. J. Marg Police Station. The case, lodged under Sections 406 and 420 of the Indian Penal Code, stems from a complaint by Julie Coelho. She…

Latest StoriesResidential

Tata Sons Leases Ratan Tata Bungalow in Colaba, South Mumbai

MUMBAI: Tata Sons has leased a luxury bungalow in Colaba, south Mumbai, reinstating its ties to a property historically associated with the Tata family. Known as ‘The Cabins’ and situated on Shahid Bhagat Singh Road, the bungalow was formerly utilized by the late Ratan Tata. This expansive bungalow features a super built-up area of 13,200 sq ft, including a basement, ground floor, and three upper levels, marking it as one of the larger standalone residential properties in the Colaba region. The owner of the property is Ewart Investments Ltd, a subsidiary of Tata Sons. A lease agreement has been finalized…

Latest StoriesRegulatory

BMC Targets 6,922 Properties for ₹6,000 Crore Tax Dues

Certainly! Here’s a rewritten version of the content with a focus on clarity and conciseness: MUMBAI: The BMC has initiated action against 6,922 properties due to property tax dues totaling ₹6,089 crore. Additionally, 483 properties belonging to defaulters have been seized, with plans to auction off 210 properties. Following the start of seizure actions, 2,888 property owners have paid over ₹784 crore in taxes. As of Tuesday, ₹6,024 crore has been collected, representing 82.1% of the total property tax owed. Seizure actions were executed against six units in the Hallmark commercial building located in Government Colony, Bandra. Three unit holders…

IndustryLatest Stories

MHADA Aims for 20,000 Affordable Homes via Cluster Redevelopment

NEW DELHI: According to Sanjeev Jaiswal, the Vice President and CEO of the Maharashtra Housing and Area Development Authority (MHADA), Mumbai’s redevelopment strategy is evolving from focusing on individual buildings to large-scale cluster redevelopment. In an exclusive interview with Ankit Sharma, Jaiswal emphasized that MHADA is concentrating on redeveloping extensive housing layouts across the city. This approach could unlock 800-1,000 acres for redevelopment, creating a substantial supply of affordable housing units in the years ahead. He underscored the authority’s commitment to enhancing affordable housing for economically weaker sections (EWS) and lower-income groups (LIG), fast-tracking the redevelopment of aging properties, and…

Latest StoriesRegulatory

Maharashtra: New Stamp Duty Penalty Starts January 1

PUNE: The increased penalty of ₹1 lakh for executing property documents without adequate stamp duty will be effective from January 1, 2026. An official from the Inspector General of Registration (IGR) office confirmed this on Monday, stating, “The amendment was notified on December 31, 2025, and will be enforced starting January 1, 2026. Any case registered concerning a shortfall in stamp duty post this date will be subjected to the revised penalty.” During the Maharashtra Budget presentation for 2026-27 on March 6, Chief Minister Devendra Fadnavis emphasized this change, proposing an increase in the penalty from the existing ₹5,000 to…

Latest StoriesRegulatory

Mumbai Police nab Kolhapur developer in ₹55 crore scam

MUMBAI: The Economic Offences Wing of the city police has arrested a developer from Kolhapur for allegedly colluding with others to mortgage and sell flats in a redevelopment project in Versova, Andheri. This was done without the consent of the society members, using forged documents, resulting in a loss of Rs 55 crores. The arrested individual, Amrut Uttam Mahendrakar (34) from Ichalkaranji, is accused of aiding in the creation of forged documents and facilitating the illegal sale and mortgage of flats. He is the second suspect arrested in this case, following the capture of Amarjit Shukla, owner of Mid City…

Latest StoriesResidential

Mumbai: Flats for Goregaon-Mulund Project PAPs by March End

Representative image MUMBAI: The construction of buildings for the rehabilitation of 252 project-affected persons in the Goregaon-Mulund Link Road (GMLR) project is nearing completion, with expectations to finish by the end of March, officials reported. The PAPs will be provided with compact 300-square-foot apartments featuring modern amenities at Kanjurmarg West. The civic body is currently constructing 906 apartments across seven buildings, covering approximately 10,050 square meters. Of these, two buildings are in the final stages of construction. The remaining apartments are expected to be completed on schedule for immediate handover to the project-affected persons. BMC Additional Commissioner Abhijit Bangar has…