Tag: Mumbai

Latest StoriesRegulatory

No Occupation Certificate Without Sewage Plant: Bombay HC to Maharashtra

MUMBAI: The Bombay High Court has instructed all civic authorities in Maharashtra to withhold the issuance of Occupancy Certificates (OC) for any structure until developers comply with building permissions and establish effective sewage management. A bench composed of Justices Ravindra Ghuge and Abhay Mantri acknowledged the significant issues arising from sewage dumping into the Ulhas River, noting the absence of adequate Sewage Treatment Plants (STPs) at 438 purported unauthorized structures in Thane district. The court was considering a petition from a Badlapur resident highlighting illegal constructions by a developer. It mandated that the municipal council must take action to curb…

IndustryLatest Stories

Raymond Realty Launches Residential Project in Wadala, Mumbai

NEW DELHI: Raymond Realty has unveiled a new residential redevelopment project in Wadala, central Mumbai, with a projected revenue potential of approximately ₹5,000 crore. Spanning a 5.62-acre land area, the development will feature premium 2-BHK and 3-BHK apartments, alongside high-street retail spaces. Harmohan Sahni, the company’s CEO, stated, “This development, with an expected revenue potential exceeding ₹5,000 crore, greatly enhances our long-term value creation strategy while reinforcing our asset-light expansion model.” Currently, the developer is working on over 10 million sq ft of projects across the Mumbai Metropolitan Region and has successfully delivered more than 5,500 homes to date. Published…

CommercialLatest Stories

Labdhi Lifestyle to Invest ₹700 Crore in BKC Commercial Project

NEW DELHI: Labdhi Lifestyle is set to invest ₹700 crore in the development of BKC Edge, a commercial project located at H-Block in Bandra Kurla Complex (BKC), Mumbai. The total gross development value (GDV) is projected to exceed ₹1,000 crore, providing a carpet area of 2.25 lakh sq ft. Occupying 1.25 acres, the development will feature over 300 business suites. According to a CBRE report, in the October–December quarter, Mumbai made up approximately 22% of the total 22.2 million sq ft of office space leased across India. The report suggests that Mumbai is likely to remain a key office market…

CommercialLatest Stories

Logitech India Leases BKC Office for ₹4 Crore

NEW DELHI: Logitech Electronics India has signed a lease for a commercial office space in Bandra Kurla Complex (BKC), Mumbai, with total rental costs amounting to approximately ₹4 crore over a five-year span, as reported by Volney. The company has leased Unit No. 407 on the fourth floor of the Trade Centre, a commercial building in BKC, covering an area of around 2,010 sq ft. The lease agreement features a five-year lock-in period with an annual rental increase of 5%. ETRealty has contacted Logitech Electronics India and will provide updates based on their responses. The Trade Centre is a Grade…

IndustryLatest Stories

Embassy Developments to invest ₹4,500 crore in Mumbai housing

NEW DELHI: Embassy Developments (EDL) is planning to invest about ₹4,500 crore to expand its presence in the Mumbai Metropolitan Region (MMR) with three residential projects in Worli, Juhu, and Alibaug. The total gross development value (GDV) of these three projects will exceed ₹12,000 crore, encompassing a combined carpet area of approximately 1.58 million sq ft. Project launches are anticipated to start in the fourth quarter of FY26. In Worli, EDL is set to develop an ultra-luxury residential project featuring a carpet area of around one million sq ft and an estimated GDV of over ₹8,800 crore. This development will…

InfrastructureLatest Stories

660+ construction sites still lack air quality monitors, BMC tells HC

Representative AI image MUMBAI: The BMC has informed the Bombay High Court that sensor-based air quality monitors have yet to be installed at 662 of the 1,954 ongoing construction sites within its jurisdiction. In response to a December 24 order from the court to provide status reports showing tangible improvements in Mumbai’s pollution levels, the BMC submitted a reply affidavit. According to Avinash Kate, chief engineer (environment and climate change), the BMC has activated its action plan for the next 15 days. The affidavit also mentioned that showcause and stop-work notices were issued at construction sites failing to comply with…

Latest StoriesResidential

Arkade to Invest ₹2,500 Crore in 5 Mumbai Projects by 2026

NEW DELHI: Arkade Developers is set to invest approximately ₹2,500 crore in the development of five residential projects across the Mumbai Metropolitan Region (MMR) in 2026. The projects are planned for Goregaon, Thane, Borivali, Malad, and Santacruz, collectively boasting a gross development value (GDV) exceeding ₹3,700 crore. The total developable area across these five projects will be 4.41 million sq ft, with a saleable carpet area estimated at around 1.4 million sq ft. The company is currently engaged in developing over 5.5 million sq ft of real estate and has delivered more than 650 residential units in FY25. Published On…

IndustryLatest Stories

Lokhandwala Complex in Mumbai Set for Redevelopment Expansion

MUMBAI: In 1984-85, construction began sweeping through the lush mangroves and marshlands of Andheri West, leading to the establishment of a premium housing estate. Now, 41 years later, Lokhandwala Complex is experiencing a new wave of redevelopment driven by necessity and the Fear of Missing Out (FOMO). Divided into four parallel lanes, Lokhandwala is a self-sufficient township with hundreds of shops catering to all needs, from basic essentials to luxury items. Now, the skyline is set to shift. From the Svati building—site of the notorious 1991 Lokhandwala shootout—to Apna Ghar societies and beyond, demolition and new construction are accelerating, with…

IndustryLatest Stories

L&T Realty Buys Land in Lower Parel, Mumbai for ₹448.6 Crore

Representative image created by AI MUMBAI: L&T Realty Developers, the realty arm of engineering and construction giant Larsen & Toubro, has acquired a prime land parcel in Lower Parel-Elphinstone Road, a key business district, for ₹448.6 crore through a deed of assignment. Of the total amount, ₹300 crore will be paid in cash, while the remainder will be settled through an area-sharing agreement that includes 55,000 sq ft of RERA carpet non-residential space and corresponding car parking. The land acquisition, spanning 1.34 acres, was executed on January 9, and involves obtaining land rights from AVA Smart City LLP, according to…

IndustryLatest Stories

Runwal Enterprises Wins ₹5,000-Crore Marine Lines Project

MUMBAI: Realty developer Runwal Enterprises has secured redevelopment rights for two significant land parcels totaling four acres in Marine Lines and Bandra, with a gross development value exceeding Rs 5,000 crore. These projects will operate under the cluster redevelopment plan in line with Regulation 33(9) of the Development Control and Promotion Regulations (DCPR), which the state government encourages to boost large-scale urban renewal and infrastructure projects. Subodh Runwal, director of Runwal Enterprises, stated, “These agreements are for the redevelopment of two private housing societies on premium land parcels, including rights for the Marine Lines project, which has been stalled for…