Tag: Mumbai

Latest StoriesResidential

Mumbai property registrations rise 6% to 1.5 lakh in 2025

NEW DELHI: Property registrations in Mumbai’s municipal region increased by 6% in 2025, totaling 150,231 units, marking a 14-year high due to improved demand. On Wednesday, real estate consultant Knight Frank India reported that Mumbai (under BMC jurisdiction) experienced its best housing market performance in 14 years in 2025. Citing state government data, Knight Frank noted that property registrations in the Mumbai municipal region reached 150,231 units in 2025, up from 141,202 in 2024. In December 2025, a total of 14,424 properties were registered, reflecting a 16% increase from 12,418 units registered in December of the previous year. Residential properties…

Latest StoriesRegulatory

Mumbai Court Orders Eviction of Trespassers from NRI’s Apartment

MUMBAI: The Bombay City Civil Court has concluded a 15-year legal dispute, granting eviction of trespassers from the Dahisar apartment of an NRI businessman, Suresh Basantani. Judge BD Pawar ruled in favor of Basantani, who had learned his home was “resold” and occupied while he was living abroad. Judge Pawar emphasized that once a registered agreement is executed and the title is transferred, the seller loses any rights to the property. He stated, “As defendant Nos 1 and 2 (Siddhivinayak Builders and promoter) already transferred the title of the suit flat to the plaintiff, they could not transfer it again…

Latest StoriesResidential

Yasmin Karachiwala Acquires Two Bandra West Apartments for ₹37.5 Cr

MUMBAI: Celebrity fitness expert Yasmin Karachiwala, aged 55, has made headlines by acquiring two luxury 4-BHK ocean-view residences totaling Rs 37.5 crore at the prestigious Paradigm Superstar-Signature Edition (Marquis Collection) located in Bandra West. Known for training stars like Katrina Kaif, Deepika Padukone, Bipasha Basu, and Hrithik Roshan, Karachiwala invested in approximately 1,882 sq ft of real estate and incurred about Rs 83 lakh in stamp duty alongside a registration fee of Rs 3,000, according to a source at the Sub-Joint Registrar in Bandra. In addition to her own luxury purchase, sources reveal that Karachiwala encouraged her niece, Shirin Qureishi,…

Latest StoriesRera

MahaRERA’s Recovery Slow; Only 33% of ₹792 Crore Collected

PUNE: Recovery warrants issued by the Maharashtra Real Estate Regulatory Authority (MahaRERA) are being executed slowly across the state, with only one-third of the total amount owed to homebuyers being recovered to date. Recent official data indicates that out of Rs 791.55 crore due across 1,287 complaints, only Rs 262.68 crore has been recovered (approximately 33%). According to district-level data from MahaRERA, Mumbai suburban tops the list with Rs 351.75 crore due but has collected merely Rs 109.71 crore, with 479 complaints recorded. Mumbai city ranks second, recovering Rs 53.11 crore against Rs 104.14 crore from 47 complaints. Pune, also…

IndustryLatest Stories

Mumbai Real Estate Developers to Pause for Civic Elections

MUMBAI: Real estate developers in the Mumbai Metropolitan Region, which includes Mumbai, Thane, and Navi Mumbai, are currently adopting a cautious approach to project approvals and amendments due to the upcoming municipal elections and the implementation of the Model Code of Conduct. This comes despite steady housing demand in the area. Although there has been no official halt on construction-related permissions, industry stakeholders indicate that administrative processes typically slow down during civic election periods, as many officials are preoccupied with election duties. This has led developers to adjust their timelines for various discretionary approvals, such as revised commencement certificates, layout…

IndustryLatest Stories

NBCC Launches Real Estate Operations in Dubai

NEW DELHI: NBCC (India) has launched its international real estate ventures in Dubai through its wholly-owned subsidiary, NBCC Overseas Real Estate LLC. This subsidiary has acquired a land parcel in Dubai Mainland for AED 16 million, which includes AED 1 million for DLD, brokerage, and other associated costs, aimed at a mixed-use development. The development will have a Gross Floor Area (GFA) of 51,718 sq ft, featuring a configuration of G+2P+8 floors, with expected project revenue in the range of AED 58-60 million. Additionally, NBCC announced signing a memorandum of understanding (MoU) with the Mumbai Port Authority (MbPA) for the…

IndustryLatest Stories

RLDA Secures ₹2,250 Crore Bid for 2.5 Acres in Mumbai

Representative image The Railway Land Development Authority (RLDA) achieved a record bid of ₹2,250 crore for a prime 2.5-acre site in Mahalaxmi, South Mumbai, according to sources familiar with the situation. This unprecedented bid sets a new standard for long-term lease rights auctions in India’s real estate sector. The competitive process drew interest from several of the nation’s leading developers, indicating strong investor confidence in prime urban properties. Four major developers competed for the plot. Dineshchandra R Agrawal Infracon emerged as the top bidder with a ₹2,250 crore offer, followed by Sobha Realty at ₹1,232 crore, and Lodha Group with…

Latest StoriesResidential

One Year Later: No GR on NA Tax Abolition; Housing Societies Seek Clarity

PUNE: Over a year after the state cabinet’s decision to eliminate the non-agricultural (NA) tax in urban regions, cooperative housing societies in Maharashtra still lack clarity due to the absence of an official government resolution (GR). The Maharashtra State Housing Federation has reached out to Chief Minister Devendra Fadnavis and Revenue Minister Chandrashekhar Bawankule, requesting a GR to clarify the situation and organize awareness initiatives for consistent implementation across the board. Without a formal notification, housing societies—particularly those outside gaothan areas—remain uncertain if they are still required to pay the tax, as indicated in their letter. In October 2024, the…

Latest StoriesRegulatory

Bombay HC Forms Panel to Settle Khar Danda Koliwada Land Dispute

MUMBAI: The Bombay High Court has established a three-member committee to address a land dispute at Danda Koliwada, Khar West, where a slum rehabilitation scheme is in progress. Part of this land is utilized by the Koli community for drying fish and nets. Justices Girish Kulkarni and Aarti Sathe instructed the additional principal secretary of the urban development department, along with the suburban collector and the CEO of the Slum Rehabilitation Authority, “to resolve the issue after hearing both parties and considering a fresh demarcation of the land, taking into account the traditional rights of the petitioners.” The judges emphasized…

Latest StoriesRegulatory

South Mumbai Tycoon Alleges Scam in ‘Aafiyah Heights’; FIR Filed

MUMBAI: Byculla police have filed an FIR against two directors of Aafiyah Realtors for allegedly defrauding 60-year-old businessman Mausam Ali Armar of ₹5 crore in connection with a high-rise project in South Mumbai. The accused, Munaf Wadgama and his wife Sajida, reportedly cannot be located, according to police reports. The complaint was lodged by Armar, who is the director of Galaxy Multi Channel Network Pvt Ltd. According to the FIR, Armar met the Wadgamas in 2013 through mutual contacts. The couple allegedly claimed ownership of Aafiyah Realtors and offered nine flats for sale in a proposed 47-storey building named “Aafiyah…