Tag: Mumbai

Latest StoriesRegulatory

Bombay HC Halts BMC’s Demolition of Rakhmabai Mhatre Chawl Homes

MUMBAI: The Bombay High Court has strongly criticized the Municipal Corporation of Greater Mumbai (BMC) for its demolition notices targeting six longstanding residents of Rakhmabai Mhatre Chawl in Mulund (East), categorizing the actions as “vague, arbitrary, malafide, and a misuse of power.” Justice Milind N Jadhav, in a ruling made on January 5, 2026, granted six Appeals From Orders filed by the residents: Anita Ashok Mapuskar, Amol Pandharinath Vedak, Manik Gajanan Thakur, Rajkumar Gamandas Ramchandani, Pushpalata Pandurang Ale, and Sudhir Sambhaji Jadhav. The court provided them absolute protection from any coercive measures from the BMC until their civil suits are…

Latest StoriesResidential

Ideal Cures’ promoters purchase two Worli apartments for ₹190 crore

Representative image. Suresh Pareek and Veena S Pareek, founders of Ideal Cures, a maker of pharmaceutical excipients, have purchased two luxury apartments in the upscale Worli area of Mumbai for over Rs 190.1 crore. The purchase, featuring two adjacent units on the 43rd floor of a premium residential tower, was officially registered on December 24. This move highlights the ongoing demand for high-end large-format homes in south and central Mumbai. The two apartments boast a combined RERA carpet area of 12,114 sq ft, resulting in an average rate of approximately Rs 1.56 lakh per sq ft, ranking among the top…

IndustryLatest Stories

Lodha Developers’ Q3 FY26 Sales Up 25% to ₹5,620 Crore

NEW DELHI: Lodha Developers announced quarterly pre-sales of ₹5,620 crore for Q3 FY26, reflecting a 25% increase year-on-year. The company is on track to meet its annual pre-sales target of ₹21,000 crore. Collections for Q3 FY26 were ₹3,560 crore, which is lower compared to the same period last year due to unique inflows from significant land and office sales recorded in Q3 FY25. However, the company anticipates an increase in collections in the forthcoming quarters. During the quarter, five new projects were launched with a gross development value (GDV) of ₹33,800 crore across the Mumbai Metropolitan Region (MMR), NCR, and…

IndustryLatest Stories

Railway secures ₹1,368 crore bid for 6-acre land in Mumbai

Representative Image The Railway Land Development Authority (RLDA) has received a bid of Rs 1,368 crore for redeveloping the Supari Baug colony, a nearly six-acre land parcel located in central Mumbai’s Parel area, according to sources familiar with the matter. Dineshchandra R Agrawal Infracon is the sole bidder for this land, which will be redeveloped under a revenue share model through a long-term lease. The reserve price for the plot, which will be granted via a 99-year lease, was set at Rs 1,343 crore. The Supari Baug tender initially garnered interest due to its size and prime location in Parel,…

Latest StoriesRegulatory

FIR Filed Against Aiko Builders’ Director in ₹30 Crore Scam

MUMBAI: Neeraj Vora, the director of Aiko Builders Pvt Ltd, has been accused of defrauding a construction entrepreneur in Vasai of Rs 30 crore related to a real estate transaction concerning a plot in Mira Road. The Manikpur Police registered a First Information Report (FIR) against Vora on allegations of cheating and forgery. The complainant, Akash Gupta, reported that in 2021, Vora approached him for funding to develop a two-acre parcel of land at Mira Road, promising allocation of 1 lakh sq ft at a price of Rs 2,970 per sq ft. Vora purportedly claimed to own the land and…

IndustryLatest Stories

Runwal Enterprises buys 200 acres in Alibaug for ₹20,000 crore

Here’s a revised version of the content: — Representative AI image Real estate developer Runwal Enterprises has secured a 200-acre land parcel in the coastal town of Alibaug, situated near Mumbai. This acquisition is part of a ₹20,000 crore integrated township project authorized under the Maharashtra Regional and Town Planning (MR&TP) Act of 1966, which regulates large-scale and mixed-use developments in the region. Led by Subodh Runwal, the firm aims to roll out a project that incorporates both residential and commercial facets. Plans include a five-star hotel and social amenities like a golf course, subject to compliance with planning regulations…

Latest StoriesRegulatory

Mumbai police charge developer for cheating Motilal Oswal Finance

Here’s a rewritten version of the content: MUMBAI: The Dadar police have filed a chargesheet against a developer for allegedly defrauding Motilal Oswal Finance Ltd by selling mortgaged property that served as collateral for a housing project loan of ₹158 crore taken nearly ten years ago. The chargesheet names Ramakant Jadhav, director of Karm Infrastructure, while his partner Ketan Patel has been cleared of any wrongdoing. The police submitted a 500-page chargesheet to the Additional Chief Metropolitan Magistrate’s 5th Court in Sewri in December 2025. They have also requested permission to file a supplementary chargesheet once the absconding accused is…

Latest StoriesRegulatory

Mumbai Court Rejects Slum Classification for Godrej Land

Representational image MUMBAI: In a significant ruling for one of India’s oldest industrial groups, the Bombay City Civil Court has annulled a long-standing government notification that categorized Godrej & Boyce’s manufacturing land in Vikhroli as a slum area. This judgment effectively concludes the legal challenge, safeguarding the private property from state acquisition under the Maharashtra Slum Areas Act. Judge A.K. Kale stated, “It is hereby declared that no valid declaration exists under Section 4(1) of the Maharashtra Slum Areas (Improvement, Clearance and Redevelopment) Act concerning the suit land. Defendant numbers 1 and 2 (additional collector and deputy collector ENC) are…

Latest StoriesResidential

Alkem Labs Founder’s Parents Buy ₹63 Crore Penthouse in Bandra

MUMBAI: A septuagenarian couple, Satish Kumar Singh and Premlata Singh, parents of Alkem Laboratories founder Sandeep Singh, have purchased Khar-Bandra’s most expensive penthouse for Rs 63 crore. This sale marks the highest rate for a non-sea facing apartment in Bandra. Dubbed a ‘villa in the sky’, the residence boasts private terraces and a spacious double-height living room. “It truly gives the vibe of a villa in the sky,” according to a source. This luxurious penthouse is situated in S Raheja’s Evergreen Tower on Perry Road, Bandra West, reflecting the growing appetite for single-unit luxury homes in one of Mumbai’s most…

Latest StoriesResidential

Maharashtra CM urged to revoke MOFA changes, restore rights

File photo PUNE: The Akhil Bharatiya Grahak Panchayat has called on Chief Minister Devendra Fadnavis to rigorously implement the provisions of the Maharashtra Ownership of Flats (MOFA) Act. They are demanding the immediate retraction of recent amendments, which they label unjust, anti-consumer, and contrary to the public interest. These changes reportedly provide “legal immunity” to builders by removing criminal liabilities for violations. The organization emphasizes that law enforcement and relevant authorities should take criminal actions against errant builders and reaffirm ownership and conveyance rights for homebuyers throughout Maharashtra. In a comprehensive memorandum directed to the CM on December 31, the…