Tag: Mumbai

Latest StoriesResidential

Shreyas Iyer Leases Worli Property for ₹7.14 Crore

NEW DELHI: Indian cricketer Shreyas Iyer has rented a residential unit in Artesia, Worli, Mumbai, at a starting monthly rent of ₹18.50 lakh. The unit spans 360 sq meters (3,875 sq ft) and includes four car parking spaces. The registration of the deal involved a stamp duty of ₹1.84 lakh, registration charges of ₹1,000, and a security deposit of ₹74 lakh, as detailed in property registration documents reviewed by Square Yards on the Inspector General of Registration (IGR) website. The agreement was officially registered in June 2026. According to an analysis by Square Yards, the lease duration is set for…

IndustryLatest Stories

Oberoi Realty invests ₹268.5 crore in Bandra East project

Representative AI image NEW DELHI: Oberoi Realty has invested ₹268.50 crore in equity shares of Centerstage Realty, its fully-owned subsidiary, via a rights issue, as stated in a regulatory filing. The company purchased 26.85 crore equity shares at a nominal value of ₹10 each. Following this transaction, Oberoi Realty maintains its complete ownership and control of Centerstage Realty. Centerstage Realty was established on June 2, 2026, as a special purpose vehicle for the development of railway land in Bandra East, adjacent to the Western Express Highway in Mumbai. Previously, the company disclosed that its bid to the Railway Land Development…

IndustryLatest Stories

Maharashtra Decentralises Land Approvals to Accelerate Projects

The Maharashtra government has enhanced the authority of district collectors and divisional commissioners to approve government land transactions. This initiative aims to minimize bureaucratic delays and accelerate investment and redevelopment initiatives throughout the state. As stated in a government resolution (GR) from the Revenue and Forest Department, the delegation of powers under Section 37A of the Maharashtra Land Revenue Code, 1966 has been updated. This allows district-level and divisional authorities to authorize a broader range of land-related proposals without needing state government approval. The move is designed to improve the business environment and hasten approvals for industrial, infrastructure, housing, and…

IndustryLatest Stories

Maharashtra to Launch New Rates for Towers and Slums Post-Survey

MUMBAI: Maharashtra will implement distinct Ready Reckoner (RR) rates for high-rises and slum clusters within the same area, following a statewide micro-zoning initiative aimed at enhancing the realism and fairness of property valuations, announced Revenue Minister Chandrashekhar Bawankule on Wednesday. This decision, revealed on the 12th anniversary of Prime Minister Narendra Modi’s tenure, seeks to aid middle-class homebuyers and slum dwellers currently subjected to uniform valuation rates, despite significant differences in infrastructure and amenities. Bawankule noted that the Maharashtra government has initiated a three-phase survey program for micro-zoning, entrusting the Maharashtra Remote Sensing Application Centre to carry out the task…

IndustryLatest Stories

Reliance Consortium Wins 101-Acre Mumbai Slum Redevelopment Bid

MUMBAI: A consortium led by Reliance Industries’ subsidiary, Reliance 4IR Realty Development, in collaboration with Mahadev Realtors Juhu, has successfully won the bid for the redevelopment of the 101.36-acre Juhu Galli slum cluster in Andheri (West), making it one of the largest slum redevelopment projects in Mumbai. The tender process was overseen by the Slum Rehabilitation Authority (SRA) and drew bids from major corporate groups, including Reliance, JSW, and the Shapoorji Pallonji Group. The Reliance-led consortium emerged victorious in the bidding process. The redevelopment plan aims to construct over 28,000 homes for eligible slum residents. This initiative falls under the…

Latest StoriesResidential

Ajit Agarkar Sells Mumbai Apartment for ₹4 Crore

NEW DELHI: Former Indian cricketer Ajit Agarkar has sold his residential property located in the Jewel Co-op Housing Society in Bandra West, Mumbai, for ₹4 crore. The property, which has a built-up area of 114.15 sq meters (1,229 sq ft), includes two car parking spaces. The sale was registered in April 2026. Property registration documents reviewed by Square Yards indicate that the transaction entailed a stamp duty payment of ₹24 lakh and registration fees of ₹30,000. Published On Jun 10, 2026 at 11:00 AM IST Join a community of over 2 million industry professionals. Subscribe to our newsletter for the…

Latest StoriesRegulatory

Bombay HC: Flat Buyers Get Monthly Interest Under RERA Delay

MUMBAI: On Monday, the Bombay High Court ruled that under the Real Estate (Regulation and Development) Act (Rera), buyers have an unequivocal right to receive interest monthly for possession delays. Justice Madhav Jamdar stated that the law aims to protect buyers from delays and ensure timely construction. Developers cannot postpone possession indefinitely while evading the consequences mandated by Rera. Therefore, buyers who remain invested in a project despite delays are entitled to interest for each month of delay until they receive possession. Ten buyers sought compensation due to a delay in a Mulund project booked between 2005 and 2007. An…

CommercialLatest Stories

Wadhwa Group Leases 33,000 sq ft Office in Mumbai for ₹44 Crore

NEW DELHI: The Wadhwa Group has leased approximately 33,000 square feet of office space to the global investment research firm Morningstar at its commercial project in Mumbai, totaling a rental agreement of Rs 44 crore over a nine-year period. Based in Mumbai, Wadhwa Group specializes in residential, commercial, and township projects, having completed over 220 projects across the Mumbai Metropolitan Region (MMR), featuring a total area of 45 million sq ft. Morningstar has also leased an additional 32,551 sq ft at Wadhwa Group’s Vishwaroop IT Park (VITP) project in Vashi, Mumbai. A spokesperson for the company opted not to comment.…

CommercialLatest Stories

Smartworks Leases 400+ Seats to Japanese NBFC in Mumbai

NEW DELHI: Smartworks Coworking Spaces has secured a lease for over 400 seats with a Japanese NBFC subsidiary in Mumbai. The five-year deal is projected to yield rental revenue of ₹35 crore. Neetish Sarda, the founder and managing director, stated, “Large teams necessitate a specific set of workplace needs – they require a space that operates seamlessly, maintains consistency across touchpoints, and is scalable as the organization expands.” Clients occupying 300 or more seats represent 69% of the company’s rental income, with an average tenure of 47 months for this group. Approximately 90% of the firm’s revenue is derived from…

Latest StoriesResidential

MHADA Begins Handover of 537 Flats in Naigaon BDD Project

NEW DELHI: The Maharashtra Housing and Area Development Authority (MHADA) has initiated the allotment and possession process for 537 rehabilitation flats within the Naigaon BDD Chawl redevelopment project in Mumbai. The flats are situated in towers 1, 2, and 3 of rehabilitation building number one. The allotment process is being executed at MHADA’s project office on the ground floor of tower five at Naigaon-Dadar. On the first day, MHADA’s Mumbai Housing and Area Development Board issued allotment letters to 15 eligible residents, and possession of the flats was granted to all 15 beneficiaries after completing the necessary documentation. Rehabilitation building…