Tag: Mumbai

CommercialLatest Stories

Standard Chartered Sells BKC Office in Mumbai for ₹197 Crore

MUMBAI: Standard Chartered Bank has divested one of its commercial properties in the Parinee Crescenzo tower located in Mumbai’s Bandra Kurla Complex (BKC) to Advanced Realty for ₹197 crore. The office boasts a chargeable area of 28,516 sq ft and a carpet area of 27,003 sq ft, including 27 parking slots. This sale translates to approximately ₹69,084 per sq ft on the chargeable area. The transaction was officially recorded on February 2, 2026, according to documents obtained via the real estate data analytics platform Propstack. The commercial tower currently accommodates a variety of multinational corporations, banks, financial service companies, and…

Latest StoriesRegulatory

BMC Halts Work on Transit Camp at Sewage Plant Site in Mumbai

MUMBAI: The BMC has issued a stop-work notice for a transit camp in Worli, as it has been discovered that the camp is being constructed on land reserved by the civic body for a sewage treatment plant. Municipal officials reported that two sewer lines run through the site, and initial assessments indicate that construction has already disrupted sewage flow, raising concerns about potential flooding and infrastructure failure, especially during the monsoon season. Additional civic chief Ashwini Joshi instructed BMC’s chief engineer (sewerage operations) to file a criminal complaint against D B Patil, a Slum Rehabilitation Authority executive engineer, for allegedly…

IndustryLatest Stories

Oberoi Realty Wins Bid for 11-Acre Bandra East Land

Representative AI image NEW DELHI: Oberoi Realty has won the highest bid for a long-term lease of approximately 45,371 square meters (about 11 acres) of railway land in Bandra East, Mumbai. This was confirmed after the financial bids were opened by the Railway Land Development Authority (RLDA), a statutory body under the Ministry of Railways. The company submitted a bid of ₹5,400 crores, quoted as net present value (NPV), for a 99-year lease on the land, which is strategically located along the Western Express Highway and has potential for around 19.5 lakh sq ft of floor space index (FSI). As…

Latest StoriesResidential

MHADA to Redevelop Four Unsafe Buildings in Sion, Mumbai

NEW DELHI: The Maharashtra Housing and Area Development Authority (MHADA) has given the green light for the redevelopment of four unsafe transit buildings at Sion Pratikshanagar. Sanjeev Jaiswal, vice president and CEO of the authority, has announced that requests for rehabilitation within the same layout will be approved. Additionally, the proposal for middle-income group (MIG) sale buildings has been cancelled, benefiting 261 families and four shop owners from Transit Buildings No. 36, 37, 53, and 54. Plans call for the construction of two new buildings with stilt plus 22 floors, providing a total of 322 transit tenements. The project is…

Latest StoriesResidential

Angel Investor Radha Tanti Purchases ₹123-Crore Mumbai Flat

This is a representative image. Mumbai’s luxury residential market has seen another significant transaction, with Radha Tanti, an angel investor and spouse of Suzlon Energy executive vice chairman Girish Tanti, acquiring a high-end apartment in the prestigious Worli area for ₹123.5 crore. The property is located on the 44th habitable floor of the ultra-luxurious Artesia tower, situated near the Doordarshan Center in Worli. The apartment boasts a RERA carpet area of approximately 6,772.28 sq ft, along with an additional 367.05 sq ft of balcony or terrace space, making it one of the largest units in the development. This purchase was…

IndustryLatest Stories

Keystone Realtors Q3 FY26 Net Profit Falls 83.06%

NEW DELHI: Keystone Realtors has reported an 83.06% decline in net consolidated profit for the quarter ending December 31, 2025. The company recorded a profit after tax (PAT) of ₹5.08 crore, down from ₹29.98 crore during the same quarter last fiscal year, as per their BSE filing. The company’s net consolidated income for Q3 FY26 was ₹293.95 crore, a drop of 39.49% from ₹485.82 crore in the same quarter the previous year. Boman Irani, Chairman and Managing Director, stated, “Our pre-sales reached ₹837 crore in Q3 FY26 and ₹2,676 crore year-to-date (YTD) FY26, marking a strong 23% year-on-year growth. This…

Latest StoriesResidential

Mumbai: Meghwadi Chawl Residents Claim Coercion in Redevelopment

MUMBAI: Residents of the historic Meghwadi chawl in Dharavi are not just opposing a redevelopment plan but are also facing a systematic campaign of intimidation and harassment aimed at displacing families who have lived there for generations. The issue escalated after an urgent seven-day eviction notice was issued by the Slum Rehabilitation Authority (SRA) last December, with claims of local thugs, possibly politically motivated, pressuring residents to leave their homes. The nearly 150-year-old Meghwadi chawl, formerly known as Central Railway Patra chawl, contains around 80 hutments housing approximately 350 residents, including many seniors and children. Many of them have ancestral…

Latest StoriesRegulatory

SC asks Maharashtra govt, civic body to respond on slum rehab plea

File photo NEW DELHI: On Monday, the Supreme Court sought responses from the Maharashtra government and the Municipal Corporation of Greater Mumbai regarding a petition that challenges a Bombay High Court ruling allowing slum rehabilitation schemes on plots originally designated for parks, gardens, and playgrounds. On June 19, 2025, the Bombay High Court upheld the legitimacy of a regulation concerning slum rehabilitation schemes, seeking to balance Mumbai’s critical need for green spaces with the constitutional right to shelter. It endorsed Regulation 17(3)(D)(2) of the Development Control and Promotion Regulations (DCPR) 2034, which permits the execution of slum rehabilitation schemes on…

Latest StoriesResidential

MHADA to Sell 120 Mumbai Flats via First-Come-First-Served, Feb 5

Representative Image NEW DELHI: The Mumbai Housing and Area Development Board (MHADA) is set to offer 120 residential flats in various locations across Mumbai on a first-come-first-served basis, with online registrations starting on February 5, 2026, according to an official announcement. The flats, which were previously made available through MHADA lotteries but went unsold, are located in different housing colonies managed by the Mumbai Board. Applications will be accepted via MHADA’s official housing portal. Registrations will kick off on February 5 at 11 am, whereas online application submissions, payment of fees, and flat selection will commence from February 12, 2026,…

IndustryLatest Stories

Goldman Sachs, Morgan Stanley buy 4.9% in Sunteck for ₹268 crore

NEW DELHI: On Thursday, US-based firms Goldman Sachs and Morgan Stanley jointly acquired a 4.9% stake in Sunteck Realty from CLSA, a capital market company, for ₹268 crore through open market transactions. According to block deal data from the BSE, Goldman Sachs, via its arm Goldman Sachs Bank Europe SE, bought 36.52 lakh shares, equating to a 2.5% stake in Sunteck Realty. Moreover, Morgan Stanley, through its affiliate Morgan Stanley Asia (Singapore) Pte, purchased 35.09 lakh shares, which represents a 2.4% stake in the company. The shares were acquired at an average price of ₹375.1 each, bringing the total deal…