Tag: Mumbai

IndustryLatest Stories

MHADA Spots 82 Unsafe Buildings in Mumbai Island

NEW DELHI: The Mumbai Building Repairs and Reconstruction Board of the Maharashtra Housing and Area Development Authority (MHADA) has identified 82 highly hazardous cessed buildings on Mumbai city island through its annual pre-monsoon inspection. This year, 43 of these buildings were previously marked as dangerous last year. In total, 2,736 individuals reside in these structures, comprising 2,256 residential and 480 non-residential occupants. Notably, the board has issued eviction notices to 176 residential occupants, commanding them to vacate. Out of these, 29 tenants have been relocated to MHADA transit camps, while 36 have secured alternate housing. The eviction process for the…

Latest StoriesResidential

Mumbai property registrations up 7% to 12,315 in May 2026

NEW DELHI: The Brihanmumbai Municipal Corporation (BMC) reported that Mumbai saw 12,315 property registrations in May 2026, marking a 7% increase compared to the previous year, according to Knight Frank India. This figure represents the highest number of registrations for May in the last 14 years, exceeding the peak recorded in May 2025. The state government earned ₹1,051 crore from stamp duty during this month, reflecting a 1% year-on-year decline. Knight Frank indicated that this slight reduction in revenue, despite the rise in registrations, was due to changes in the mix of transactions. However, registrations saw a 14% decrease from…

Latest StoriesResidential

20+ Maharashtra housing societies finish online registrations in 2 months

Sure! Here’s a rewritten version of the content: — PUNE: Following the launch of a fully online cooperative society registration system by Maharashtra’s cooperation department two months ago, 23 housing societies in the state have successfully completed the approval process via the Aaple Sarkar portal. This marks a significant transition from the cumbersome paperwork-intensive method that required multiple visits to deputy registrar offices. As of Friday, officials from the state cooperation department informed TOI that the portal has processed 304 applications for society name reservations—the initial step in the registration process. Out of these, 113 applications received approval, while 34…

Latest StoriesRegulatory

Mumbai Developer Alleges Ex-Partner Cheated ₹11.51 Crore

MUMBAI: A developer has accused his former business partner of defrauding him of Rs 11.51 crore by allegedly hiding the prior sale of 19 flats in a Bandra East slum rehabilitation project and misappropriating the proceeds. The Economic Offences Wing (EOW) has filed an FIR against Vaman Madye, the owner of Rajhans Rebuilds and Developers, on charges of cheating, forgery, and breach of trust. In his complaint, Basantaraj Sethiya, director of Sethia Infrastructure Pvt Ltd, alleged that Madye fraudulently sold flats in the Vishal Ashiana redevelopment project located in Nirmal Nagar, Bandra East, without informing him of these transactions. According…

Latest StoriesRera

MahaRERA reprimands Mumbai builder for defects, delays

MUMBAI: MahaRERA has once again raised concerns regarding the Vasant Oasis project in Andheri East, instructing developers to address various issues such as leakage, seepage, structural flaws, and subpar workmanship in the common areas of one of the buildings within the township. The regulatory body has also requested that the developers initiate the conveyance process in favor of the housing society, take necessary steps to establish an apex body if it hasn’t been formed yet, and complete the conveyance by handing over all essential title documents and approved plans. The Daffodil building’s cooperative housing society at Vasant Oasis had approached…

IndustryLatest Stories

Arkade Developers’ Net Profit Falls 96.63% to ₹5.29 Crore

NEW DELHI: Arkade Developers has experienced a significant decline of 96.63% in its net consolidated profit for the fiscal year 2025-26. The profit after tax was reported at ₹5.29 crore compared to ₹156.92 crore in FY25, as per the company’s BSE filing. The net consolidated income rose to ₹828.16 crore in FY26, reflecting a 19.23% increase from ₹694.60 crore in FY25. In Q4 FY26, net total income surged by 48.18% to ₹199.06 crore from ₹134.34 crore year-over-year. However, the company faced a loss after tax of ₹109.56 crore in Q4 FY26, contrasting with a profit after tax of ₹32.26 crore…

IndustryLatest Stories

Ajmera Realty Net Profit Rises 18.93% to ₹149.79 Crore in FY26

NEW DELHI: Ajmera Realty & Infra India has reported an 18.93% increase in its net consolidated profit for the financial year 2025-26. The profit after tax reached ₹149.79 crore in FY26, compared to ₹125.95 crore in FY25, according to a filing with the BSE. The company’s total net consolidated income was ₹1,098 crore for FY26, showing a 45.80% growth from ₹753.11 crore in FY25. In Q4 FY26, the net consolidated income surged by 181.30% to ₹439.93 crore, up from ₹156.39 crore in the same quarter last year. Profit after tax also saw a significant growth of 119.94%, rising to ₹55.60…

IndustryLatest Stories

Kalpataru Launches Kandivali East Redevelopment Project

NEW DELHI: Kalpataru has initiated a cluster redevelopment project involving five neighboring societies in Ashok Nagar, Kandivali East, Mumbai. The development covers 2.8 acres, with a free sale potential of 0.37 million square feet of carpet area and an estimated gross development value (GDV) of approximately ₹1,250 crore. In Q4 FY26, the pre-sales value reached ₹1,833 crore, a six percent increase from ₹1,724 crore in Q4 FY25. Collections totaled ₹1,487 crore, up 41 percent from ₹1,057 crore the previous year, with an area sold of 1.15 million square feet. Average sale realization during this quarter was ₹15,969 per square foot.…

Latest StoriesRegulatory

SRA Targets 219 Rehab Buildings in Mumbai Lacking OC

Representative AI image MUMBAI: The state government has initiated an amnesty scheme aimed at regularizing buildings lacking an Occupancy Certificate (OC). In response, the Slum Rehabilitation Authority (SRA) has issued notices to over 200 buildings citywide that have not obtained an OC but have been allocated to eligible slum dwellers. According to SRA data, there are 219 SRA rehabilitation unit buildings without an OC across the city’s 24 administrative wards. Consequently, the slum dwellers residing in these buildings are denied corpus funds for maintenance, and developers often pressure them to occupy the units before an OC is acquired to avoid…

CommercialLatest Stories

ICICI Prudential AMC Acquires VIOS Tower in Mumbai for ₹525 Cr

Investment management firm ICICI Prudential Asset Management Company has acquired nine floors of the VIOS Tower, a commercial property, from global asset manager Varde Partners in Wadala, central Mumbai, for over ₹525 crore. The acquisition provides more than 3 lakh sq ft of office space through the ₹2,500-crore ICICI Prudential Office Yield Optimiser Fund II, dedicated to acquiring completed and pre-leased office properties in major Indian markets. The office space, spanning from the ground to the 8th floor, is fully leased to established companies and is anticipated to yield more than 8% annually, with lease agreements featuring a 5% rental…