Tag: Mumbai

IndustryLatest Stories

Raymond Realty Q4 FY26 Pre-Sales Surge to ₹1,519 Crore

NEW DELHI: Raymond Realty Ltd announced on Thursday that its sales bookings surged more than two-fold to Rs 1,519 crore for the quarter ending in March, driven by increased demand for residential properties. In comparison, sales bookings were Rs 636 crore during the same period last year. According to a regulatory filing, the company’s pre-sales for the entire fiscal year 2025-26 climbed 31% to Rs 3,023 crore, up from Rs 2,314 crore in the previous year. Raymond Realty has a robust pipeline of upcoming projects with a total revenue potential of Rs 43,000 crore across the Mumbai Metropolitan Region (MMR),…

IndustryLatest Stories

Marathon Nextgen Realty buys majority stake in 3 firms for ₹70 crore

NEW DELHI: Marathon Nextgen Realty has secured a 51% controlling stake in three real estate firms via its fully-owned subsidiary, Nexzone IT Infrastructures. The company invested approximately ₹70 crore to acquire stakes in DVK Developers (₹22.47 crore), Shree S S Developers (₹40.26 crore), and Shree Swami Samarth Builders (₹7.25 crore). The three firms together manage six residential projects with a total development potential of around 5.94 lakh sq ft, translating to an estimated gross development value (GDV) exceeding ₹840 crore. Approximately 35% of these projects are already under construction or set to launch within the next twelve months. Notably, around…

Latest StoriesRegulatory

Andheri East Leads FY26 Property Tax in Mumbai; Lower Parel Follows

MUMBAI: The K-East ward, covering Andheri East, has become the top contributor to property tax in Mumbai for the 2025-26 fiscal year, with the BMC recording its highest-ever collection of ₹7,610.9 crore. According to civic data, the K-East ward topped the collections with ₹719.2 crore, followed by G-South (Lower Parel and nearby areas) at ₹670.6 crore, K-West (Andheri West) at ₹622.2 crore, H-East (Kalina and Bandra East) at ₹577.8 crore, and H-West (Bandra West) at ₹536.6 crore. The western suburbs alone contributed ₹3,721.3 crore, while the island city and eastern suburbs accounted for ₹2,102.6 crore and ₹1,457.4 crore, respectively. The…

Latest StoriesRera

MahaRERA approves 1,060 housing projects; new ones near 50%

MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has approved over 1,060 housing projects statewide, with nearly half of the new registrations, even as developers request extensions on many ongoing projects. Out of the total approvals, 486 projects received registration numbers, while 426 projects were granted timeline extensions based on revised completion plans submitted by developers. Additionally, 148 projects were approved for corrections on previously accepted proposals, indicating a continuous adjustment within the project pipeline. The surge in approvals reflected increased activity in the 18 days leading up to Gudi Padwa, which is traditionally viewed as a favorable time for…

Latest StoriesResidential

Mumbai Property Registration Jumps 3% in March 2026

NEW DELHI: Property registrations in the Mumbai region rose by 3% in March, totaling 15,983 units—the highest figure recorded in the past 14 years, according to Knight Frank. This marks an increase from last year’s March, which saw 15,510 registrations. In a statement released on Tuesday, Knight Frank reported that the city of Mumbai (within BMC jurisdiction) recorded these transactions, which include both primary and secondary market sales. “This is the highest monthly registration volume for March in 14 years, exceeding the previous peak observed in March 2025, emphasizing the strength and resilience of the city’s residential market,” the report…

Latest StoriesRegulatory

Buyer Can Withdraw Deposit Pending Builder’s Appeal: Bombay HC

Here’s a rewritten version of the content you provided: MUMBAI: The High Court observed that a builder and a buyer cannot be treated equally as the buyer is typically in a vulnerable position. Consequently, it allowed a flat purchaser to withdraw a sum deposited with the builder, amidst an appeal regarding a project that has been delayed for over a decade. On Monday, the High Court ruled that the provisions of RERA do not prevent the appellate tribunal from exercising its discretion in exceptional cases to release amounts deposited by the builder during the appeal process. The Court clarified that…

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Maharashtra Maintains Reckoner Rates for FY27

File Photo NEW DELHI: The Maharashtra government has decided to keep the ready reckoner (RR) rates unchanged for the financial year 2026-27. The Inspector General of Registration and Controller of Stamps announced that the rates, effective from April 1, 2026, will remain at FY26 levels. Revenue Minister Chandrashekhar Bawankule explained that this decision aims to alleviate any additional financial burden on citizens during property transactions. Sukhraj Nahar, President of CREDAI-MCHI, stated, “By not increasing RR rates, the government has ensured vital stability in the real estate sector, preserving project viability and avoiding hikes in statutory premiums and related costs linked…

IndustryLatest Stories

Oberoi Realty to Redevelop 1,740 Sq Meters in Mumbai

Representative image NEW DELHI: Oberoi Realty has initiated a development agreement for the redevelopment of a 1,740 sq meter plot located at Malabar Hill, Mumbai. This land will be developed in conjunction with nearby societies under a cluster development scheme, with the company anticipating a free sale component entitlement of up to 51,000 sq ft from this site. The company had previously signed a development agreement with two neighboring housing societies on M.L. Dahanukar Marg and Dr. G. Deshmukh Marg at Peddar Road, covering a total land area of 4,800 sq meters. From this project, the company forecasts a free…

Latest StoriesResidential

Malaika Arora Khan Rents Out Mumbai Apartment for ₹1.17 Crore

File photo NEW DELHI: Malaika Arora Khan has rented an apartment in the Vida building, Bandra West, Mumbai, starting at ₹3.10 lakh per month. The transaction was recorded with a stamp duty of ₹30,819, registration charges of ₹1,000, and a security deposit of ₹20 lakh, as per property registration documents reviewed by Square Yards from the Inspector General of Registration (IGR) website. The lease agreement was officially registered in March 2026. According to an analysis by Square Yards, the lease term is for 36 months. The initial monthly rent of ₹3.10 lakh is set for the first year, increasing by…

IndustryLatest Stories

AAI to Assess Mumbai Building Heights Case-by-Case

Representative Image MUMBAI: A recent Airports Authority of India (AAI) circular addressing the effects of high frequency (HF) transmitters on vertical development may provide a solution for stalled redevelopment projects in the Juhu area. Dated March 18, 2026, the circular announced the formation of a regional committee to evaluate impacted zones, assess aviation safety implications, and establish guidelines for allowable building heights on a case-by-case basis. “There is a demand for reviewing regulations regarding HF transmitters, as the absence of clear standards from ICAO (International Civil Aviation Organisation) is hindering the vertical growth of metropolitan areas,” it stated. Residents of…