Tag: Mumbai

CommercialLatest Stories

91Springboard Leases 100K Sq Ft Workspaces in Mumbai & Gurugram

NEW DELHI: 91Springboard, a workspace solutions provider, has launched two new centers in Mumbai and Gurugram. Together, the two hubs cover approximately 100,000 sq ft and are expected to be operational by the next quarter. The Mumbai center, located at Hiranandani Business Park, LightHall in Andheri East, spans 40,000 sq ft, while the Gurugram center at DLF World Trade Park covers 60,000 sq ft. To date, the company has added half a million sq ft of space in 2025 and aims to reach an additional million by the end of this fiscal year. Currently, it manages over 1.64 million sq…

Latest StoriesRegulatory

ED probes 14 sites linked to ex-Lodha Developers director

MUMBAI: The Enforcement Directorate (ED) has conducted searches at 14 locations in Mumbai and nearby areas associated with Rajendra Lodha, the former director of Lodha Developers (now Macrotech Developers), and his associates as part of a money laundering investigation. Rajendra is accused of defrauding the Lodha Group, established by minister and BJP leader Mangal Prabhat Lodha, by illegally selling apartments in a New Cuffe Parade project. The city crime branch had previously arrested him, leading to the ED’s case based on that FIR. One of the locations searched belonged to Vinod Patil, the brother of a former MNS MLA. Neighbors,…

IndustryLatest Stories

Keystone Realtors’ Q2 FY26 Net Profit Drops 84.91%

NEW DELHI: Keystone Realtors reported an 84.91% decline in its net consolidated profit for the quarter ending September 30, 2025. The company’s profit post-tax was ₹9.89 crore for Q2 FY26, compared to ₹65.55 crore in the same quarter of the previous fiscal year, according to a BSE filing. The net consolidated total income for Q2 FY26 was ₹520.92 crore, down 6.35% from ₹556.22 crore reported in the same quarter last year. Boman Irani, Chairman and Managing Director, stated, “Our pre-sales reached ₹772 crore in Q2 FY26, representing a 10% year-on-year growth on a quarterly basis, and ₹1,839 crore for H1…

Latest StoriesRegulatory

Bombay HC Cancels NOC for Filmmaker to Merge Flats in Oshiwara

MUMBAI: The Bombay High Court has annulled an order from the deputy registrar of cooperative societies for the K-West ward, which had instructed a housing society in Oshiwara, Andheri West, to approve film producer and director Vipul Shah’s request to merge four flats across two floors. Justice Amit Borkar stated on Monday that the decision exceeded the authority outlined in the Maharashtra Co-operative Societies Act, 1960, asserting that such power cannot be exercised. The Oberoi Springs CHSL contested the deputy registrar’s ruling under sub-clause 3 of Section 154B-27, which pertains to the society’s obligation to act and the registrar’s enforcement…

Latest StoriesRegulatory

Bombay HC Bars Developer from Adding to Tardeo Twin Towers

MUMBAI: In a significant legal dispute, the Bombay High Court issued an interim ruling on Tuesday, preventing developer S D Corporation from making any changes to the 60-storey twin towers known as ‘The Imperial’ in Tardeo. A group of 48 residents from Towers A and B took legal action against the developer for attempting to construct additional buildings and flats, which they argued violated a 2009 building plan previously presented to them. On Tuesday, the High Court prohibited any alterations without the residents’ consent. The court expressed that the developer’s intention to construct further, utilizing a substantial sale component of…

IndustryLatest Stories

Sri Lotus Developers Q2 FY26 Profit Dips 8% to ₹46.36 Crore

NEW DELHI: Sri Lotus Developers and Realty Ltd has reported an 8% decrease in consolidated net profit to Rs 46.36 crore for the September quarter, down from Rs 50.47 crore during the same period last year. Conversely, total income surged to Rs 188.81 crore in the July-September timeframe, up from Rs 125.08 crore a year earlier, according to a regulatory filing. The Mumbai-based firm has finalized four projects totaling over 4.2 lakh sq ft of carpet area, with six projects currently in progress and 12 more planned, covering approximately 27.6 lakh sq ft of carpet area and about 20.5 lakh…

Latest StoriesResidential

Maharashtra CM to distribute 423 flats to police families

MUMBAI: Following the key handover at Worli BDD chawl flats, CM Devendra Fadnavis will distribute keys to 864 flats at the Naigaum BDD chawls in Dadar. This ceremony will take place at Shanmukhananda Hall on Wednesday, where five wings consisting of 22 storeys each have been completed. Out of the 864 flats, 423 will be allocated to police families who have lived here as tenants for generations. In total, there are 2,250 tenements owned by the Mumbai police commissioner, soon to be granted as ownership to the police families who have long resided there. Each police family will need to…

CommercialLatest Stories

Germany’s Bernhard Schulte Acquires Mumbai Office Space

Global maritime giant Bernhard Schulte Shipmanagement (BSM) has acquired a custom-built six-floor office space in the Kalpataru Virtus project, located at the LBS-JVLR junction in Mumbai’s Vikhroli suburb, for more than Rs 304 crore, according to sources familiar with the matter. This acquisition, finalized on Thursday, represents one of the largest office space purchases by an international shipping company in India. “This new office will become BSM’s headquarters in India, bringing together its ship management, crewing, technical, and digital operations, while also allowing room for growth,” stated one insider. The company has acquired approximately 1 lakh sq ft of office…

Latest StoriesRera

MahaRERA Boosts Efficiency with Hybrid Mode Hearings

NAGPUR: The Maharashtra Real Estate Regulatory Authority (MahaRERA) is now facilitating both physical and digital hearings for complaints, adhering to a directive from the Bombay High Court. This initiative enhances the convenience and transparency of housing dispute resolutions. Attendance has notably risen, as complainants and relevant parties across Maharashtra can opt for in-person or remote participation via secure video conferencing platforms. MahaRERA, the governing body enforcing the Real Estate (Regulation and Development) Act in the state, has adopted a hybrid model for hearings. This allows parties to choose between physical presence and virtual attendance, as per the Bombay High Court’s…

Latest StoriesRera

Developer Must Address Andheri Building Defects: MahaRERA

Here’s a rewritten version of the content you provided: MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has ordered a developer in Andheri East to correct all structural defects in a building, particularly in the communal areas, following grievances from the building’s co-operative housing society. The society, represented by lawyer Anil D’Souza, reported several issues, including substandard construction, leaks in common areas and terrace water tanks, as well as fungal damage to doors in Vasant Oasis Jolan, building number 14. Homebuyers purchased their flats between 2011 and 2020, and after the project was handed over to the society in early…