Tag: Mumbai

IndustryLatest Stories

BMC to Offer Amnesty for Pre-Nov 2016 Buildings in Mumbai

MUMBAI: The BMC is set to launch an amnesty scheme aimed at granting occupation certificates (OC) to buildings that have been occupied for years without the necessary approvals. This initiative seeks to resolve a long-standing issue affecting numerous residential buildings throughout the city and its suburbs. According to civic officials, the scheme will pertain to structures built before November 17, 2016, including those that faced issues due to deviations from approved plans or additional constructions that barred them from receiving OC certification. At present, while these buildings receive water supply on humanitarian grounds, they are billed at significantly elevated rates…

CommercialLatest Stories

Aristo Pharma Acquires ₹111 Crore Office in Andheri West

Mumbai: Aristo Pharmaceuticals has acquired office space spanning two floors in a commercial tower located in Andheri West, a western suburb of Mumbai, for over Rs 111.26 crore, marking one of the significant office transactions this year. The pharmaceutical company purchased units on the first and second floors of Parinee I from Parinee Realty and an individual seller. The deal was officially registered on March 27. The total carpet area acquired exceeds 18,300 sq ft, while the usable area, including loft space, is approximately 28,300 sq ft, according to property registration documents accessed via Propstack. This acquisition represents a carpet…

IndustryLatest Stories

Keystone Realtors’ Q4 FY26 Pre-Sales Surge 58%

NEW DELHI: Keystone Realtors has reported pre-sales of ₹13.46 billion in Q4 FY26, up from ₹8.54 billion in Q4 FY25, reflecting a year-on-year growth of 58%. During FY26, total pre-sales reached ₹40.22 billion, compared to ₹30.28 billion for FY25, marking a 33% year-on-year increase. Boman Irani, chairman & managing director of the company, stated, “Our collections achieved remarkable growth, totaling ₹26.21 billion for FY26. On the business development side, we successfully launched five projects in FY26, with an aggregate GDV of ₹104.20 billion—an impressive 118% growth year-on-year. In FY26, we introduced seven projects with an estimated GDV of ₹98.13 billion,…

Latest StoriesResidential

Shreya Ghoshal’s Parents Buy Mumbai Home for ₹29.70 Crore

NEW DELHI: Shreya Ghoshal, accompanied by her parents, Shamishtha and Biswajit Ghoshal, has acquired an apartment in Godrej Trilogy, Worli, Mumbai, at a cost of ₹29.70 crore. This residence boasts a carpet area of 2,430.06 sq ft (225.76 sq meters) and a total area of 2,750.28 sq ft (255.51 sq meters). Included are three car parking spaces. The transaction involved a stamp duty of ₹1.78 crore and registration fees of ₹30,000, as per property registration documents from Square Yards on the Inspector General of Registration (IGR) website. The registration of the transaction took place in April 2026. Published On Apr…

InfrastructureLatest Stories

Maharashtra to Speed Up Land Surveys Using Private Firms

Representative Image NAGPUR: The Maharashtra government has announced a comprehensive revamp of land survey procedures, employing trained and licensed private surveyors in every district. This initiative aims to address the growing backlog and expedite development approvals. Revenue Minister Chandrashekhar Bawankule revealed the decision following a meeting with Chief Minister Devendra Fadnavis. The reform is intended to ensure the “accurate, timely, quality, and transparent” handling of land measurement cases. Consequently, an official government order outlining the operational framework has been issued. Under the revised system, land surveys will adhere to pre-determined schedules, with advance notices issued by the deputy superintendent of…

Latest StoriesRegulatory

BMC Voices Concerns on Dangerous Buildings in Mumbai

MUMBAI: The BMC has raised significant concerns regarding procedural lapses in the management of dangerous (C-1 category) buildings, cautioning ward-level officials about the potential disciplinary and legal repercussions for failing to follow established regulations. In a comprehensive circular dated April 2, additional municipal commissioner (city) Dr. Ashwini Joshi highlighted that ward offices are not complying with the standard operating procedures (SOPs) set forth by previous municipal directives and Bombay High Court rulings pertaining to decrepit structures. The SOP, initially established through a 2016 circular in response to a High Court petition, mandates that all actions taken against unauthorized constructions and…

IndustryLatest Stories

Raymond Realty Q4 FY26 Pre-Sales Surge to ₹1,519 Crore

NEW DELHI: Raymond Realty Ltd announced on Thursday that its sales bookings surged more than two-fold to Rs 1,519 crore for the quarter ending in March, driven by increased demand for residential properties. In comparison, sales bookings were Rs 636 crore during the same period last year. According to a regulatory filing, the company’s pre-sales for the entire fiscal year 2025-26 climbed 31% to Rs 3,023 crore, up from Rs 2,314 crore in the previous year. Raymond Realty has a robust pipeline of upcoming projects with a total revenue potential of Rs 43,000 crore across the Mumbai Metropolitan Region (MMR),…

IndustryLatest Stories

Marathon Nextgen Realty buys majority stake in 3 firms for ₹70 crore

NEW DELHI: Marathon Nextgen Realty has secured a 51% controlling stake in three real estate firms via its fully-owned subsidiary, Nexzone IT Infrastructures. The company invested approximately ₹70 crore to acquire stakes in DVK Developers (₹22.47 crore), Shree S S Developers (₹40.26 crore), and Shree Swami Samarth Builders (₹7.25 crore). The three firms together manage six residential projects with a total development potential of around 5.94 lakh sq ft, translating to an estimated gross development value (GDV) exceeding ₹840 crore. Approximately 35% of these projects are already under construction or set to launch within the next twelve months. Notably, around…

Latest StoriesRegulatory

Andheri East Leads FY26 Property Tax in Mumbai; Lower Parel Follows

MUMBAI: The K-East ward, covering Andheri East, has become the top contributor to property tax in Mumbai for the 2025-26 fiscal year, with the BMC recording its highest-ever collection of ₹7,610.9 crore. According to civic data, the K-East ward topped the collections with ₹719.2 crore, followed by G-South (Lower Parel and nearby areas) at ₹670.6 crore, K-West (Andheri West) at ₹622.2 crore, H-East (Kalina and Bandra East) at ₹577.8 crore, and H-West (Bandra West) at ₹536.6 crore. The western suburbs alone contributed ₹3,721.3 crore, while the island city and eastern suburbs accounted for ₹2,102.6 crore and ₹1,457.4 crore, respectively. The…

Latest StoriesRera

MahaRERA approves 1,060 housing projects; new ones near 50%

MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has approved over 1,060 housing projects statewide, with nearly half of the new registrations, even as developers request extensions on many ongoing projects. Out of the total approvals, 486 projects received registration numbers, while 426 projects were granted timeline extensions based on revised completion plans submitted by developers. Additionally, 148 projects were approved for corrections on previously accepted proposals, indicating a continuous adjustment within the project pipeline. The surge in approvals reflected increased activity in the 18 days leading up to Gudi Padwa, which is traditionally viewed as a favorable time for…