Tag: Mumbai

IndustryLatest Stories

Andheri to Begin Mumbai’s First 100-Acre Slum Redevelopment

Representative Image MUMBAI: Three corporations are vying for Mumbai’s inaugural cluster Slum Rehabilitation Authority (SRA) project, covering 100 acres in Andheri (West). The Juhu Gulli SRA scheme encompasses 28,061 slum hutments, existing residential tenants, and owners, stretching from Juhu Galli (C D Barfiwala Road) to the rear of Hansraj Morarji Public School. Under this cluster initiative, slums can be integrated with dilapidated non-slum buildings, tenant-occupied structures, and vacant plots unsuitable for construction. For the first time, major corporations in real estate—Shapoorji Pallonji Real Estate, Reliance 4IR Realty Development Ltd, and JSW Realty & Infrastructure Pvt Ltd—are participating in an SRA…

CommercialLatest Stories

Maharashtra Govt buys Air India Mumbai building for ₹1,601 Cr

File Photo MUMBAI: On Tuesday, the Maharashtra government officially acquired the renowned Air India building, a standout feature of Mumbai’s skyline, for Rs 1,601 crore. The agreement transfer between Air India Assets Holding Company and the state Public Works Department (PWD) was finalized in the presence of Chief Minister Devendra Fadnavis, following a cabinet meeting at ‘Mantralaya’, the state secretariat. Attendees included Deputy Chief Minister Sunetra Pawar, Tourism Minister Shambhuraj Desai, Public Works Minister Shivendrasinhraje Bhosale, Chief Secretary Rajesh Agrawal, Additional Chief Secretary (PWD) Milind Mhaiskar, Mumbai City Collector Anchal Goyal, and Air India officials. Built in 1974, the iconic…

IndustryLatest Stories

Adani Properties Wins MHADA’s Worli, Bandra Redevelopment Bids

NEW DELHI: Adani Properties has secured the top bid for cluster redevelopment projects at Adarsh Nagar in Worli and Bandra Reclamation, as confirmed by the Maharashtra Housing and Area Development Authority (MHADA). For the Sardar Vallabhbhai Patel (S.V.P.) Nagar project located in Andheri West, the highest bid has come from a consortium including Hanura Realty, Chandak Realtors, Premsagar Infra Realty, and Vantier Realty. Notably, Hanura Realty is a subsidiary of JSW Steel. The financial bids were unveiled for appointing construction and development agencies for these three cluster redevelopment projects overseen by MHADA’s Mumbai Housing and Area Development Board. The committee…

Latest StoriesRegulatory

Property for daughter without gift deed isn’t unexplained: ITAT

MUMBAI: The Income Tax Appellate Tribunal (ITAT) Mumbai bench has ruled that not having a formal gift deed does not automatically classify a property purchase as an ‘unexplained investment’ if the funding sources are clearly identifiable. Under tax laws, unexplained income or assets incur a harsh punitive tax rate. The ITAT stated in its May 27 ruling that a property’s purchase by a father in his daughter’s name, motivated by familial love and affection, should not be deemed questionable simply due to the absence of formal documentation. The daughter, a homemaker in Mumbai without a personal income, came under scrutiny…

Latest StoriesRera

MahaRERA Dues Recovery Stalls Despite Efforts by Officers

PUNE: The Maharashtra government’s effort to expedite the recovery of dues for distressed homebuyers is facing significant challenges. Despite assigning dedicated revenue recovery officers in critical districts five months ago, collections have only marginally increased by Rs10 crore. According to data from the Maharashtra Real Estate Regulatory Authority (MahaRERA), total recoveries rose from Rs270 crore in December 2025 to roughly Rs280 crore now. This slow progress continues despite a state mandate urging faster enforcement of recovery warrants. Concerns over the slow pace of recovery are amplified by the scale of the defaults. Since its launch in May 2017, MahaRERA has…

IndustryLatest Stories

MHADA Spots 82 Unsafe Buildings in Mumbai Island

NEW DELHI: The Mumbai Building Repairs and Reconstruction Board of the Maharashtra Housing and Area Development Authority (MHADA) has identified 82 highly hazardous cessed buildings on Mumbai city island through its annual pre-monsoon inspection. This year, 43 of these buildings were previously marked as dangerous last year. In total, 2,736 individuals reside in these structures, comprising 2,256 residential and 480 non-residential occupants. Notably, the board has issued eviction notices to 176 residential occupants, commanding them to vacate. Out of these, 29 tenants have been relocated to MHADA transit camps, while 36 have secured alternate housing. The eviction process for the…

Latest StoriesResidential

Mumbai property registrations up 7% to 12,315 in May 2026

NEW DELHI: The Brihanmumbai Municipal Corporation (BMC) reported that Mumbai saw 12,315 property registrations in May 2026, marking a 7% increase compared to the previous year, according to Knight Frank India. This figure represents the highest number of registrations for May in the last 14 years, exceeding the peak recorded in May 2025. The state government earned ₹1,051 crore from stamp duty during this month, reflecting a 1% year-on-year decline. Knight Frank indicated that this slight reduction in revenue, despite the rise in registrations, was due to changes in the mix of transactions. However, registrations saw a 14% decrease from…

Latest StoriesResidential

20+ Maharashtra housing societies finish online registrations in 2 months

Sure! Here’s a rewritten version of the content: — PUNE: Following the launch of a fully online cooperative society registration system by Maharashtra’s cooperation department two months ago, 23 housing societies in the state have successfully completed the approval process via the Aaple Sarkar portal. This marks a significant transition from the cumbersome paperwork-intensive method that required multiple visits to deputy registrar offices. As of Friday, officials from the state cooperation department informed TOI that the portal has processed 304 applications for society name reservations—the initial step in the registration process. Out of these, 113 applications received approval, while 34…

Latest StoriesRegulatory

Mumbai Developer Alleges Ex-Partner Cheated ₹11.51 Crore

MUMBAI: A developer has accused his former business partner of defrauding him of Rs 11.51 crore by allegedly hiding the prior sale of 19 flats in a Bandra East slum rehabilitation project and misappropriating the proceeds. The Economic Offences Wing (EOW) has filed an FIR against Vaman Madye, the owner of Rajhans Rebuilds and Developers, on charges of cheating, forgery, and breach of trust. In his complaint, Basantaraj Sethiya, director of Sethia Infrastructure Pvt Ltd, alleged that Madye fraudulently sold flats in the Vishal Ashiana redevelopment project located in Nirmal Nagar, Bandra East, without informing him of these transactions. According…

Latest StoriesRera

MahaRERA reprimands Mumbai builder for defects, delays

MUMBAI: MahaRERA has once again raised concerns regarding the Vasant Oasis project in Andheri East, instructing developers to address various issues such as leakage, seepage, structural flaws, and subpar workmanship in the common areas of one of the buildings within the township. The regulatory body has also requested that the developers initiate the conveyance process in favor of the housing society, take necessary steps to establish an apex body if it hasn’t been formed yet, and complete the conveyance by handing over all essential title documents and approved plans. The Daffodil building’s cooperative housing society at Vasant Oasis had approached…