Tag: Mumbai

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…

Latest StoriesResidential

Mumbai’s Dadar Parsi Colony: Redevelopment Meets Timeless Charm

MUMBAI: In the 1920s, municipal corporator and civil engineer Muncherji Edulji Joshi envisioned a housing project for Parsi families in Dadar, aiming to create a model neighbourhood featuring two-storey buildings surrounded by gardens and open spaces. A century later, redevelopment has gradually infiltrated this lush residential area, known as Dadar Parsi Colony (DPC). Ironically, Joshi’s statue stands near a towering residential building behind it. The historic Daruwala House, a Parsi-only two-storey structure, was transformed into Nirvan Tower around a decade ago, while across the street, Dossal House was demolished to make way for the 21-storey Della Tower, designed by architect…

Latest StoriesResidential

Worli Residents Protest SRA’s Plan to Terminate Developer

MUMBAI: Residents of Worli’s Sagar Darshan and Chaitanya Sai Janata Colony SRA Housing Societies protested on Sunday against the Slum Rehabilitation Authority’s (SRA) decision to terminate the current developer. This decision comes just over a year after the issuance of a Letter of Intent (LoI) and amid attempts to appoint a new developer. According to slum tenants, the termination of the LoI granted to Chintaharni Chintpurni Realtors in October 2024 threatens the livelihoods of 2,500 families. Some residents warned that if the SRA proceeds with its plan, they would boycott the upcoming BMC elections. These two slum projects fall within…

Latest StoriesRegulatory

Govt Bodies Owe BMC Over ₹3,000 Crore in Property Taxes: RTI

MUMBAI: Government departments and public agencies owe the BMC over ₹3,000 crore in property tax, with the civic body managing to recover only ₹243 crore in the last five years, according to data disclosed by the BMC under the Right to Information (RTI) Act. The information was revealed in response to an RTI inquiry from civic activist and advocate Godfrey Pimenta, who sought to understand why “honest taxpayers should bear the burden” while government entities fail to fulfill their property tax obligations. The BMC’s reply dated December 12, 2025, indicates that as of October 31, 2025, the property tax arrears…

IndustryLatest Stories

Keystone Realtors’ ₹3,000 Crore Housing Project in Mumbai Next Month

NEW DELHI: Keystone Realtors, a prominent real estate firm, is set to unveil a super luxury residential project in Mumbai next month, projected to generate approximately ₹3,000 crore in revenue, according to a senior company official. Based in Mumbai, Keystone Realtors operates under the Rustomjee brand and is recognized as one of India’s leading real estate developers. In a recent interview with PTI, Boman Irani, Chairman and Managing Director of Keystone Realtors, expressed a strong optimism regarding housing demand. He is confident that the sales bookings target of ₹4,000 crore for the current fiscal year will easily be met. The…

IndustryLatest Stories

Mumbai Builder Accused of Cheating Investor in Mira Road Deal

MUMBAI: Neeraj Vora, Director of Aiko Builders Pvt Ltd, has been accused of cheating a construction businessman from Vasai out of crores in a real estate transaction involving land in Mira Road. The Manikpur police filed an FIR against Vora for charges including cheating and forgery. Complainant Akash Gupta claims that in 2021, Vora solicited funds for the development of a 2-acre, 25.75-guntha property at Mira Road, assuring him of 100,000 sq ft at Rs 2,970 per sq ft. Vora allegedly claimed ownership and indicated that a total investment of Rs 30 crore was necessary. An MoU was signed on…

Latest StoriesRegulatory

Court Denies ARC’s Request for DSK Property Auction

MUMBAI: A special Prevention of Money Laundering Act (PMLA) court has denied a request from Encore Asset Reconstruction Company Pvt Ltd (ARC), a secured creditor, to release and auction properties tied to the Deepak Sakharam Kulkarni (DSK) group case. The judge highlighted that the properties in question were not only seized by the Enforcement Directorate (ED) under the PMLA but were also under the state’s attachment pursuant to the Maharashtra Protection of Interest of Depositors (MPID) Act. Judge R B Rote remarked, “Considering the circumstances, the applicant cannot vacate the attachment on mortgaged properties nor proceed with the auction. This…

Latest StoriesRegulatory

BMC Uncooperative in SIT Probe of CRZ Maps Forgery, HC Told

MUMBAI: The Brihanmumbai Municipal Corporation (BMC) is hindering the inquiry into extensive land record tampering allegedly involving public officials who created numerous fraudulent city survey maps in Madh Island, according to the Special Investigation Team (SIT) during a hearing at the Bombay High Court on Tuesday. A bench comprising Justices A.S. Gadkari and R.R. Bhonsale examined the SIT’s findings and witness statements alleging bribery among civic officials, as highlighted by petitioners. The court queried the public prosecutor about the absence of action against the implicating BMC officers despite available prima facie evidence. The prosecutor indicated that inadequate cooperation from BMC…