Tag: Mumbai

IndustryLatest Stories

Mumbai: BMC to Sell Prime Worli Plot for ₹455 Crore

Representative AI image MUMBAI: Following an inquiry ordered by junior urban development minister Madhuri Misal regarding BMC’s Rs 600-crore tender for the redevelopment of its municipal testing laboratory in Worli, the civic body has launched a tender to sell a prime 5,166 sqm plot to builders for “commercial exploitation” at a starting price of Rs 455 crore. The highest bidder will have the opportunity to construct residential or commercial towers on the site. BMC initially aimed to redevelop the laboratory and construct a new facility along with a multistory robotic parking tower and commercial units on this residentially zoned plot.…

Latest StoriesResidential

Arvind SmartSpaces to Revamp Goregaon West Project, Mumbai

NEW DELHI: Arvind SmartSpaces has initiated a residential redevelopment project in Goregaon (West), Mumbai, with an estimated revenue potential of around ₹2,400 crore. This project, developed in collaboration with Sigma Oxford Realtors, will encompass a saleable area of approximately 0.67 million sq ft, situated in Siddharth Nagar. This marks the company’s third residential venture in the Mumbai Metropolitan Region (MMR) and its second high-rise project in the city. Additionally, the company’s wholly-owned subsidiary, Arvind Skyline (ASPL), has acquired a 49% stake in Oxford Navrang Realtors for ₹49,000. This acquisition is anticipated to be finalized within the month. Furthermore, the company…

IndustryLatest Stories

NCLT Clears Merger of Nirmal Lifestyle and Oberoi Realty

NEW DELHI: The Mumbai bench of the National Company Law Tribunal (NCLT) has sanctioned the merger of Nirmal Lifestyle Realty with Oberoi Realty, according to a regulatory filing from the company. This merger will take effect once the NCLT order is filed with the Registrar of Companies. Nirmal Lifestyle Realty will be dissolved without winding up as part of this merger. Since the transferor company is wholly owned by the listed entity, there will be no shares issued under the scheme, resulting in the cancellation of its entire share capital. The objective of this merger is to streamline the group’s…

Latest StoriesRegulatory

Bombay HC backs ₹1 lakh payout for illegal tenement demolition

MUMBAI: The Bombay High Court has reaffirmed an April 2021 ruling by the Maharashtra State Human Rights Commission (SHRC), which mandated that the Maharashtra Housing and Area Development Authority (Mhada) pay Rs 1 lakh in compensation to a Jogeshwari resident. This ruling stems from allegations of human rights violations after the demolition of his structure without prior notice, despite it being labeled as an “unauthorized tenement.” The High Court referenced a Supreme Court decision underscoring that the right to shelter is a fundamental aspect of Article 21 of the Constitution—the right to life and liberty— which can only be revoked…

IndustryLatest Stories

Lodha Developers’ Q4 FY26 Pre-Sales Hit ₹5,890 Crore

NEW DELHI: Lodha Developers has reported pre-sales of ₹5,890 crore for the January-March quarter of FY26, reflecting a 23% increase from the previous year. For the entire financial year, pre-sales reached ₹20,530 crore, a rise of 16% year-over-year. The company noted that sales in March fell short of expectations due to a slight deferment in demand. Collections in Q4 FY26 increased by 18% year-over-year, totaling ₹5,230 crore, while full-year collections were ₹15,160 crore, marking a 5% annual growth. During the quarter, the company launched one project in the Mumbai Metropolitan Region, valued at a gross development value (GDV) of ₹1,300…

IndustryLatest Stories

BMC to Offer Amnesty for Pre-Nov 2016 Buildings in Mumbai

MUMBAI: The BMC is set to launch an amnesty scheme aimed at granting occupation certificates (OC) to buildings that have been occupied for years without the necessary approvals. This initiative seeks to resolve a long-standing issue affecting numerous residential buildings throughout the city and its suburbs. According to civic officials, the scheme will pertain to structures built before November 17, 2016, including those that faced issues due to deviations from approved plans or additional constructions that barred them from receiving OC certification. At present, while these buildings receive water supply on humanitarian grounds, they are billed at significantly elevated rates…

CommercialLatest Stories

Aristo Pharma Acquires ₹111 Crore Office in Andheri West

Mumbai: Aristo Pharmaceuticals has acquired office space spanning two floors in a commercial tower located in Andheri West, a western suburb of Mumbai, for over Rs 111.26 crore, marking one of the significant office transactions this year. The pharmaceutical company purchased units on the first and second floors of Parinee I from Parinee Realty and an individual seller. The deal was officially registered on March 27. The total carpet area acquired exceeds 18,300 sq ft, while the usable area, including loft space, is approximately 28,300 sq ft, according to property registration documents accessed via Propstack. This acquisition represents a carpet…

IndustryLatest Stories

Keystone Realtors’ Q4 FY26 Pre-Sales Surge 58%

NEW DELHI: Keystone Realtors has reported pre-sales of ₹13.46 billion in Q4 FY26, up from ₹8.54 billion in Q4 FY25, reflecting a year-on-year growth of 58%. During FY26, total pre-sales reached ₹40.22 billion, compared to ₹30.28 billion for FY25, marking a 33% year-on-year increase. Boman Irani, chairman & managing director of the company, stated, “Our collections achieved remarkable growth, totaling ₹26.21 billion for FY26. On the business development side, we successfully launched five projects in FY26, with an aggregate GDV of ₹104.20 billion—an impressive 118% growth year-on-year. In FY26, we introduced seven projects with an estimated GDV of ₹98.13 billion,…

Latest StoriesResidential

Shreya Ghoshal’s Parents Buy Mumbai Home for ₹29.70 Crore

NEW DELHI: Shreya Ghoshal, accompanied by her parents, Shamishtha and Biswajit Ghoshal, has acquired an apartment in Godrej Trilogy, Worli, Mumbai, at a cost of ₹29.70 crore. This residence boasts a carpet area of 2,430.06 sq ft (225.76 sq meters) and a total area of 2,750.28 sq ft (255.51 sq meters). Included are three car parking spaces. The transaction involved a stamp duty of ₹1.78 crore and registration fees of ₹30,000, as per property registration documents from Square Yards on the Inspector General of Registration (IGR) website. The registration of the transaction took place in April 2026. Published On Apr…

InfrastructureLatest Stories

Maharashtra to Speed Up Land Surveys Using Private Firms

Representative Image NAGPUR: The Maharashtra government has announced a comprehensive revamp of land survey procedures, employing trained and licensed private surveyors in every district. This initiative aims to address the growing backlog and expedite development approvals. Revenue Minister Chandrashekhar Bawankule revealed the decision following a meeting with Chief Minister Devendra Fadnavis. The reform is intended to ensure the “accurate, timely, quality, and transparent” handling of land measurement cases. Consequently, an official government order outlining the operational framework has been issued. Under the revised system, land surveys will adhere to pre-determined schedules, with advance notices issued by the deputy superintendent of…