Tag: Mumbai

Latest StoriesRegulatory

BMC Targets 6,922 Properties for ₹6,000 Crore Tax Dues

Certainly! Here’s a rewritten version of the content with a focus on clarity and conciseness: MUMBAI: The BMC has initiated action against 6,922 properties due to property tax dues totaling ₹6,089 crore. Additionally, 483 properties belonging to defaulters have been seized, with plans to auction off 210 properties. Following the start of seizure actions, 2,888 property owners have paid over ₹784 crore in taxes. As of Tuesday, ₹6,024 crore has been collected, representing 82.1% of the total property tax owed. Seizure actions were executed against six units in the Hallmark commercial building located in Government Colony, Bandra. Three unit holders…

IndustryLatest Stories

MHADA Aims for 20,000 Affordable Homes via Cluster Redevelopment

NEW DELHI: According to Sanjeev Jaiswal, the Vice President and CEO of the Maharashtra Housing and Area Development Authority (MHADA), Mumbai’s redevelopment strategy is evolving from focusing on individual buildings to large-scale cluster redevelopment. In an exclusive interview with Ankit Sharma, Jaiswal emphasized that MHADA is concentrating on redeveloping extensive housing layouts across the city. This approach could unlock 800-1,000 acres for redevelopment, creating a substantial supply of affordable housing units in the years ahead. He underscored the authority’s commitment to enhancing affordable housing for economically weaker sections (EWS) and lower-income groups (LIG), fast-tracking the redevelopment of aging properties, and…

Latest StoriesRegulatory

Maharashtra: New Stamp Duty Penalty Starts January 1

PUNE: The increased penalty of ₹1 lakh for executing property documents without adequate stamp duty will be effective from January 1, 2026. An official from the Inspector General of Registration (IGR) office confirmed this on Monday, stating, “The amendment was notified on December 31, 2025, and will be enforced starting January 1, 2026. Any case registered concerning a shortfall in stamp duty post this date will be subjected to the revised penalty.” During the Maharashtra Budget presentation for 2026-27 on March 6, Chief Minister Devendra Fadnavis emphasized this change, proposing an increase in the penalty from the existing ₹5,000 to…

Latest StoriesRegulatory

Mumbai Police nab Kolhapur developer in ₹55 crore scam

MUMBAI: The Economic Offences Wing of the city police has arrested a developer from Kolhapur for allegedly colluding with others to mortgage and sell flats in a redevelopment project in Versova, Andheri. This was done without the consent of the society members, using forged documents, resulting in a loss of Rs 55 crores. The arrested individual, Amrut Uttam Mahendrakar (34) from Ichalkaranji, is accused of aiding in the creation of forged documents and facilitating the illegal sale and mortgage of flats. He is the second suspect arrested in this case, following the capture of Amarjit Shukla, owner of Mid City…

Latest StoriesResidential

Mumbai: Flats for Goregaon-Mulund Project PAPs by March End

Representative image MUMBAI: The construction of buildings for the rehabilitation of 252 project-affected persons in the Goregaon-Mulund Link Road (GMLR) project is nearing completion, with expectations to finish by the end of March, officials reported. The PAPs will be provided with compact 300-square-foot apartments featuring modern amenities at Kanjurmarg West. The civic body is currently constructing 906 apartments across seven buildings, covering approximately 10,050 square meters. Of these, two buildings are in the final stages of construction. The remaining apartments are expected to be completed on schedule for immediate handover to the project-affected persons. BMC Additional Commissioner Abhijit Bangar has…

IndustryLatest Stories

Maharashtra to Complete Patra Chawl Project, Address Residents’ Needs

MUMBAI: Maharashtra Minister Shambhuraj Desai assured the state assembly on Monday that the government is dedicated to finalizing the long-stalled Patra Chawl redevelopment project. This comes as legislators voiced concerns regarding ongoing delays, incomplete work, and resident protests. Located in Goregaon, the Siddharth Nagar area (formerly Patra Chawl) spans 47 acres and is home to 672 tenant families. In 2008, the Maharashtra Housing and Area Development Authority (MHADA) awarded a redevelopment contract for the area to Guru Ashish Construction Pvt Ltd (GACPL), affiliated with the now-closed HDIL (Housing Development and Infrastructure Ltd). GACPL was tasked with constructing 672 flats for…

IndustryLatest Stories

Raymond Realty & County Group Launch ₹1,200 Cr Noida Project

NEW DELHI: Raymond Realty has finalized arrangements to co-develop a residential project in Kandivali, Mumbai, making it their seventh joint venture in the city. The project is projected to have a gross development value (GDV) of approximately ₹3,000 crore, bringing the total GDV of Raymond Realty’s real estate portfolio to nearly ₹43,000 crore. In a separate venture, County Group has launched a luxury residential project named Clove County in Sector 151, Noida, adjacent to the Noida-Greater Noida Expressway, with an investment exceeding ₹1,200 crore. The project spans five acres and will consist of 226 apartments across three towers. It will…

IndustryLatest Stories

Arnya Real Estate Fund & Supreme Universal Raise ₹1,030 Crore

NEW DELHI: Arnya Real Estates Fund Advisors, in collaboration with Supreme Universal, has raised ₹1,030 crore from both domestic and international investors for its Arnya Real Estate Fund-Equity. Launched in November 2025 with a target corpus of ₹1,250 crore, the fund focuses on residential redevelopment projects in Mumbai. Sunny Bijlani, Joint Managing Director of Supreme Universal, remarked, “As the real estate landscape changes, the quality and structure of capital have become as crucial as execution capabilities. Institutional partnerships like this introduce discipline, transparency, and long-term alignment in redevelopment initiatives.” Published On Mar 9, 2026 at 11:00 AM IST Join the…

IndustryLatest Stories

BMC Approves Geotech Experts for High-Rise Foundation Review

MUMBAI: In a pioneering move for urban local bodies in Asia, the Brihanmumbai Municipal Corporation (BMC) approved the empanelment of geotechnical and foundation experts through its high-rise committee (HRC) in January. This initiative aims for an independent assessment of high-rise building foundations to ensure that excavation and construction practices adhere to stringent safety standards. The new regulation mandates that buildings exceeding 180 meters must secure mandatory clearance from the HRC before advancing through key construction phases. This decision is in response to Mumbai’s increasingly vertical landscape, characterized by a growing number of super-tall towers being planned on densely packed urban…

IndustryLatest Stories

Hutment Sale Scam Resurfaces for HDIL

MUMBAI: The Economic Offences Wing (EOW) of the Mumbai Police has uncovered an alleged housing scam involving Rs 150 crore. Home possession documents intended for approximately 1,000 residents of slum rehabilitation were reportedly sold to third-party buyers. The company at the heart of this alleged scheme is Housing Development and Infrastructure Ltd (HDIL) Group. The EOW investigation suggests that top executives of HDIL might be involved, although the firm’s lawyers have refuted this claim to Mirror. The EOW filed its chargesheet on Thursday, naming HDIL promoters the Wadhwans and their associates while also awaiting the Slum Rehabilitation Authority’s (SRA) feedback…