Tag: Mumbai

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…

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…