Tag: Mumbai

Latest StoriesResidential

Cluster Redevelopment, Policy Reform Essential for Mumbai Housing: Jaiswal

As Mumbai navigates redevelopment pressures, aging cess buildings, and expanding urban aspirations, MHADA’s cluster-led, policy-backed approach signals a shift from piecemeal interventions to integrated urban transformation. At the RealtyDailyNews Realty Real Estate Conclave 2026, Sanjeev Jaiswal (IAS), Vice-President and CEO of the Maharashtra Housing and Area Development Authority (MHADA), outlined a strategic roadmap to address Mumbai’s growing housing affordability challenges. With land constraints, high premiums, and complex redevelopment issues shaping the real estate landscape, Jaiswal emphasized the importance of cluster redevelopment and policy reforms as key solutions. Describing the issue, Jaiswal noted Mumbai’s decreasing land availability and increasing housing costs.…

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RealtyDailyNews Realty Conclave 2026: Infrastructure, Discipline, Micro-Markets

Looking ahead, the consensus was that the next housing cycle will be defined less by speculative momentum and more by structural fundamentals. At the RealtyDailyNews Realty Real Estate Conclave 2026, a high-profile fireside chat titled ‘Building for the Next Housing Cycle: Strategy, Scale and the Changing Residential Playbook’ convened key figures from the residential sector to discuss future trends. Moderated by Chaitanya Seth, Partner at EY Parthenon, the panel included Manan Shah, Treasurer (Elect) of NAREDCO Maharashtra and MD of MICL Group; Jay Morzaria, Chairman of NAREDCO NextGen and Director of VRAJ Group; Vikas Jain, President NextGen of NAREDCO Maharashtra…

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Suraj Estate Developers Buys Hally Pacific for ₹30.40 Crore

NEW DELHI: Suraj Estate Developers has successfully acquired 100% of the shares of Hally Pacific, which owns a vacant land parcel located at Sayani Road, Prabhadevi, Mumbai. This acquisition was finalized based on a share purchase agreement dated February 20, 2026, for a total amount of approximately ₹30.40 crore, making Hally Pacific a wholly owned subsidiary of the company. The newly acquired land spans around 717.39 sq meters. The company plans to develop this site with an estimated saleable carpet area of approximately 0.367 lakh sq ft and an anticipated gross development value (GDV) of around ₹200 crore. Rahul Thomas,…

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Maharashtra Minister: 1,000+ Mumbai Sites Issued Stop-Work Notices

MUMBAI: The Maharashtra government, along with civic authorities, has intensified measures against air pollution in Mumbai, issuing stop-work notices to over 1,000 construction sites for breaching environmental regulations, as stated by state Minister Pankaja Munde on Tuesday. The environment minister reported to the legislative assembly that as of January, 1,952 of the 2,224 active construction sites—nearly 88 percent—had installed low-cost air quality sensors. Official figures indicate that between October 2025 and January 2026, a total of 1,981 show-cause notices and 1,047 stop-work notices were issued as part of the ongoing “Clean Air” initiative, Munde noted in a written response regarding…

Latest StoriesRegulatory

Bombay HC raps officer for canceling NOC after 10 floors built

MUMBAI: The Bombay High Court criticized the chief officer (CO) of Mhada’s Mumbai Building Repairs and Reconstruction Board for revoking a No Objection Certificate (NOC) for the redevelopment of a building in Tardeo. So far, ten out of the proposed sixteen floors have been constructed. “There is a growing trend among individuals to appeal to public officials with substantial powers related to constructions and projects involving significant investments,” stated Justices Girish Kulkarni and Aarti Sathe on February 17. The developer, Kumar Agro Products Pvt Ltd, contested CO Milind Shambarkar’s October 13, 2025, decision that annulled the NOC initially granted in…

Latest StoriesRegulatory

Directors of Shah Housecon Charged with ₹5 Crore Cheating

MUMBAI: Two directors of a real estate company have been charged with cheating a developer of approximately ₹5 crore under the guise of investment in a Slum Rehabilitation Authority (SRA) project in Malad, as reported by a police official on Friday. A representative from the Kasturba Marg police station stated that a case has been filed against Mansukh Shah and Akash Mansukh Shah, directors of Shah Housecon Private Limited. The case has since been handed over to the Economic Offences Wing (EOW) for further investigation. Real estate developer Nilesh Narendra Raghani lodged a complaint claiming he was introduced to the…

Latest StoriesResidential

Home Sizes Up 17% in Two Years Across Seven Major Cities

NEW DELHI: The average size of apartments in India’s top seven cities has increased by 17% over the past two years, highlighting a shift towards larger units and a growing premium housing market, according to Anarock Research. The report indicates that the average flat size rose from 1,420 sq ft in 2023 to approximately 1,676 sq ft in 2025. The National Capital Region (NCR) topped the list with a steep increase of 30%, with average unit sizes growing from about 1,890 sq ft in 2023 to around 2,466 sq ft in 2025, driven by a notable rise in luxury offerings.…

Latest StoriesRegulatory

Tribunal Suspends MahaRERA Chairperson’s Order

MUMBAI: The Maharashtra Real Estate Appellate Tribunal (MREAT) has temporarily halted the MahaRERA chairperson’s order from September 2025 regarding a complaint from a flat buyer concerning the failure of promoters to deliver possession of a property in Mulund. The tribunal noted that the issuance of two variations of the order on September 9 and 10, 2025, both digitally signed by the chairperson, necessitates a thorough investigation by the authority. Following an appeal against MahaRERA chairperson Manoj Saunik’s order dated September 10, 2025, which revoked two previous orders made by the MahaRERA adjudicating officer, the tribunal stated that while MahaRERA possesses…

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Maharashtra Forms Panel to Review TDR Relief for Redevelopment

PUNE: The state government has established a 12-member committee to re-survey river flood lines across Maharashtra, including areas in Pune and Pimpri Chinchwad, nearly a year after making this commitment in the assembly. The panel is expected to submit its report within two months. The government has tasked the committee with reviewing current regulations and suggesting amendments to the Unified Development Control and Promotion Regulations (UDCPR) to facilitate the use of Transfer of Development Rights (TDR) for properties built within flood lines prior to the irrigation department’s demarcation in 2009. A significant number of properties, particularly in Pimpri Chinchwad, were…

Latest StoriesRera

Homebuyers Await Recovery Warrants Two Months After MahaRERA SOP

PUNE: Homebuyers seeking compensation from defaulting developers find themselves in a state of uncertainty, as execution of recovery warrants remains stalled despite the Maharashtra Real Estate Regulatory Authority (MahaRERA) implementing a new standard operating procedure (SOP) two months ago aimed at expediting the process. Among those affected are 80-year-old Arun Seth and his wife, who invested over Rs 50 lakh in a housing project back in 2014. Even though recovery warrants were issued in their favor years ago, local revenue authorities have yet to act. “Orders are issued, but nothing gets executed. It’s unclear if the developer still has any…