Tag: Mumbai

CommercialLatest Stories

Mumbai: New Commercial Tower Proposed for Mulund Salt Pans

MUMBAI: Navbharat Mega Developers Private Limited has submitted a proposal for the transformation of the salt pans in Mulund, Bhandup, and Kanjurmarg to the Dharavi Redevelopment Authority. This company is the special purpose vehicle responsible for executing the Rs 20,000-crore Dharavi Redevelopment Project (DRP), with the Adani Group holding an 80 percent stake; the firm was previously known as Dharavi Redevelopment Project Private Limited. The proposal outlines the construction of one commercial building and 18 residential towers (all 180 metres high) on the Mulund salt pan, along with a yet-to-be-determined number of towers for Dharavi residents who qualify for rehabilitation.…

Latest StoriesResidential

MHADA Begins Allotment of 827 Rehab Units in Worli BDD Chawl

NEW DELHI: The Maharashtra Housing and Area Development Authority (MHADA) has initiated the allocation process for 827 rehabilitation tenements within the Worli BDD Chawl redevelopment project. This allocation is targeted at eligible residents in wings F, G, and H of rehabilitation building one. On the first day, allotment letters were issued to 41 eligible residents, with 36 individuals receiving keys to their units after submitting the necessary documentation. The allotment and possession letters are being distributed at MHADA’s project office located in Sumer Kendra, Worli, on weekdays from 11 am to 6 pm, excluding public holidays. The Worli BDD Chawl…

IndustryLatest Stories

Adani, Reliance, Lodha, JSW vie for 206-acre Mumbai project

Realty developers such as Adani Properties, Reliance 4IR, Lodha Developers, and JSW Realty & Infrastructure have placed bids to redevelop three significant housing colonies covering over 206 prime acres in Mumbai’s key neighborhoods: Worli, Bandra Reclamation, and Andheri West. The Maharashtra Housing and Area Development Authority (MHADA) opened technical bids for these projects on Tuesday, covering 98.27 acres at Bandra Reclamation, 73.89 acres at Sardar Vallabhbhai Patel (SVP) Nagar in Andheri West, and 34.33 acres at Adarsh Nagar in Worli. On April 8, the Mumbai Housing and Area Development Board, a unit of MHADA, issued tenders to appoint construction and…

IndustryLatest Stories

NeoLiv buys 76 acres in Khopoli for villa project development

Representative image Institutional investor-backed residential development platform NeoLiv has secured a 76-acre land parcel in Khopoli, near Mumbai, to pursue a plotted residential development. This acquisition marks NeoLiv’s third land transaction in the Panvel-Khopoli region, coinciding with the government of Maharashtra’s upcoming Mumbai 3.0 initiative. The company plans to create a mixed-use community featuring premium villas, plots, and retail opportunities, complemented by theme-based developments, with an estimated Gross Development Value (GDV) of ₹800 crore. “This acquisition is a significant milestone for NeoLiv as we embark on our third major plotted development project in one of the most desirable micro-markets in…

Latest StoriesRegulatory

Mumbai Builder Arrested for Illegally Selling SRA Flats

MUMBAI: The Economic Offences Wing (EOW) of the city police has apprehended builder Sohail Abdullah Dukka for unlawfully selling flats within a slum redevelopment initiative in Jogeshwari. The case emerged from a complaint by Mohammad Momin, who accused Dukka of misappropriating substantial funds while being a partner in Unique Developers, the company tasked with the “One Jogeshwari” Slum Rehabilitation Authority (SRA) project at Behram Baug, Jogeshwari West. Dukka is currently in custody for another case registered at the MIDC police station. He faces allegations of selling approximately 10 flats independently in the project between 2023 and December 2025 at rates…

Latest StoriesResidential

Godrej family purchases 2 Worli apartments for ₹294 crore

Tanya Dubash, a scion of the Godrej family and executive director at Godrej Industries Group, has acquired two luxury sea-facing apartments in a premium residential tower currently under construction at Mumbai’s Worli Sea Face for over ₹294 crore, according to property registration documents obtained by RealtyDailyNews. The apartments have been valued at more than ₹2.5 lakh per square foot, placing them among the highest-priced residential properties in the nation based on this rate. The two units, located on the 19th and 20th floors of the ultra-luxury tower Naman Xana, each boast a carpet area of approximately 5,812 sq ft, complemented…

Latest StoriesRegulatory

NCLT Accepts Insolvency Plea for Supreme Housing & Hospitality

MUMBAI: The National Company Law Tribunal (NCLT) has accepted Canara Bank’s insolvency petition against Supreme Housing and Hospitality Private Limited, a Mumbai-based real estate firm, over outstanding dues exceeding ₹567 crore. This move follows several unsuccessful attempts at a one-time settlement and extended litigation. The Mumbai bench of the tribunal commenced the corporate insolvency resolution process (CIRP) against Supreme Housing on May 13 under Section 7 of the Insolvency and Bankruptcy Code (IBC). Canara Bank indicated a default amounting to ₹567.43 crore as of October 31, 2025, which includes a principal amount of ₹175.83 crore and interest dues of ₹391.60…

InfrastructureLatest Stories

MMRDA Gets Three Bids for Mumbai Metro 14 DPR

Representative image MUMBAI: The Mumbai Metropolitan Region Development Authority (MMRDA) has received bids from three firms to appoint a consultant for revising the Detailed Project Report (DPR) of the proposed Metro Line 14, which will connect Kanjurmarg and Badlapur. The authority is currently reworking the execution and financing model for this significant suburban corridor. Bids for the consultancy contract were opened on May 11. The firms that participated in the bidding process are SMEC, Tata Consulting Engineers, and RITES. The evaluation of these bids is ongoing. This initiative follows MMRDA’s unsuccessful attempt to attract private developers for the 38-km metro…

IndustryLatest Stories

NSE Signs 80-Year Lease for 2.7 Acres in BKC at ₹1,684 Crore

MUMBAI: The National Stock Exchange of India (NSE) has secured a prestigious land parcel in Mumbai’s Bandra-Kurla Complex (BKC) through a long-term lease of 80 years from the Mumbai Metropolitan Region Development Authority (MMRDA), amounting to Rs 1,684 crore. This transaction encompasses the combined plots C-81 and C-82, situated in G Block of BKC, a prominent and costly commercial hub in India. The total area of the land parcel is approximately 2.7 acres, allowing a maximum permissible built-up area of 4.7 lakh sq ft. In March 2025, RealtyDailyNews initially reported that the stock exchange intends to transform its iconic headquarters…

IndustryLatest Stories

Sri Lotus Developers’ Profit Up 6.77% to ₹243.30 Crore FY26

NEW DELHI: Sri Lotus Developers & Realty, based in Mumbai, has announced a 6.77% increase in its net consolidated profit for the financial year 2025-26. The company reported a profit after tax of ₹243.30 crore, up from ₹227.88 crore in FY25, according to a BSE filing. The net consolidated total income for FY26 reached ₹818.71 crore, reflecting a growth of 43.82% from ₹569.27 crore in FY25. In Q4 FY26, the firm experienced a 62.53% increase in total income, totaling ₹322.03 crore compared to ₹198.13 crore during the same quarter last year. Profit after tax for Q4 FY26 rose by 17.50%…