Tag: Mumbai

Latest StoriesResidential

Mumbai Property Registration Jumps 3% in March 2026

NEW DELHI: Property registrations in the Mumbai region rose by 3% in March, totaling 15,983 units—the highest figure recorded in the past 14 years, according to Knight Frank. This marks an increase from last year’s March, which saw 15,510 registrations. In a statement released on Tuesday, Knight Frank reported that the city of Mumbai (within BMC jurisdiction) recorded these transactions, which include both primary and secondary market sales. “This is the highest monthly registration volume for March in 14 years, exceeding the previous peak observed in March 2025, emphasizing the strength and resilience of the city’s residential market,” the report…

Latest StoriesRegulatory

Buyer Can Withdraw Deposit Pending Builder’s Appeal: Bombay HC

Here’s a rewritten version of the content you provided: MUMBAI: The High Court observed that a builder and a buyer cannot be treated equally as the buyer is typically in a vulnerable position. Consequently, it allowed a flat purchaser to withdraw a sum deposited with the builder, amidst an appeal regarding a project that has been delayed for over a decade. On Monday, the High Court ruled that the provisions of RERA do not prevent the appellate tribunal from exercising its discretion in exceptional cases to release amounts deposited by the builder during the appeal process. The Court clarified that…

IndustryLatest Stories

Maharashtra Maintains Reckoner Rates for FY27

File Photo NEW DELHI: The Maharashtra government has decided to keep the ready reckoner (RR) rates unchanged for the financial year 2026-27. The Inspector General of Registration and Controller of Stamps announced that the rates, effective from April 1, 2026, will remain at FY26 levels. Revenue Minister Chandrashekhar Bawankule explained that this decision aims to alleviate any additional financial burden on citizens during property transactions. Sukhraj Nahar, President of CREDAI-MCHI, stated, “By not increasing RR rates, the government has ensured vital stability in the real estate sector, preserving project viability and avoiding hikes in statutory premiums and related costs linked…

IndustryLatest Stories

Oberoi Realty to Redevelop 1,740 Sq Meters in Mumbai

Representative image NEW DELHI: Oberoi Realty has initiated a development agreement for the redevelopment of a 1,740 sq meter plot located at Malabar Hill, Mumbai. This land will be developed in conjunction with nearby societies under a cluster development scheme, with the company anticipating a free sale component entitlement of up to 51,000 sq ft from this site. The company had previously signed a development agreement with two neighboring housing societies on M.L. Dahanukar Marg and Dr. G. Deshmukh Marg at Peddar Road, covering a total land area of 4,800 sq meters. From this project, the company forecasts a free…

Latest StoriesResidential

Malaika Arora Khan Rents Out Mumbai Apartment for ₹1.17 Crore

File photo NEW DELHI: Malaika Arora Khan has rented an apartment in the Vida building, Bandra West, Mumbai, starting at ₹3.10 lakh per month. The transaction was recorded with a stamp duty of ₹30,819, registration charges of ₹1,000, and a security deposit of ₹20 lakh, as per property registration documents reviewed by Square Yards from the Inspector General of Registration (IGR) website. The lease agreement was officially registered in March 2026. According to an analysis by Square Yards, the lease term is for 36 months. The initial monthly rent of ₹3.10 lakh is set for the first year, increasing by…

IndustryLatest Stories

AAI to Assess Mumbai Building Heights Case-by-Case

Representative Image MUMBAI: A recent Airports Authority of India (AAI) circular addressing the effects of high frequency (HF) transmitters on vertical development may provide a solution for stalled redevelopment projects in the Juhu area. Dated March 18, 2026, the circular announced the formation of a regional committee to evaluate impacted zones, assess aviation safety implications, and establish guidelines for allowable building heights on a case-by-case basis. “There is a demand for reviewing regulations regarding HF transmitters, as the absence of clear standards from ICAO (International Civil Aviation Organisation) is hindering the vertical growth of metropolitan areas,” it stated. Residents of…

IndustryLatest Stories

Lodha Developers Secures ₹500 Crore via Debenture Issue

NEW DELHI: Lodha Developers Ltd, a prominent real estate firm, announced on Monday that it has successfully raised Rs 500 crore through the issuance of debentures. According to a regulatory filing, the company’s board approved the allocation of 50,000 non-convertible debentures (NCDs) worth Rs 1 lakh each, totaling Rs 500 crore via private placement. The interest rate is set at 8.52 percent per annum, payable biannually. Lodha Developers is one of India’s leading real estate companies, with a strong presence in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. The company has also acquired land in the Delhi-NCR region to…

Latest StoriesResidential

Mumbai: Apply Today for 2,640 MHADA Flats; Draw on May 15

Representative Image MUMBAI: MHADA’s Mumbai Board has announced a lottery for the sale of 2,640 apartments in the city. The application process begins today, March 30, with the lottery draw scheduled for 11:00 AM on May 15. The apartments are located in several areas, including Kannamwar Nagar in Vikhroli, Patra Chawl in Goregaon, Old Magathane in Borivali, Gorai Borivali, Subhash Nagar in Chembur, Gandhi Nagar in Bandra, Pant Nagar in Ghatkopar, Girgaum, Wadala, Kopri in Powai, Mazgaon, Tunga in Powai, Lokmanya Nagar in Dadar, Pahadi Goregaon, and Antop Hill Wadala. Of the total flats, 145 are available for the Economically…

Latest StoriesRegulatory

Mumbai Directors Arrested for ₹10 Crore NRI Fraud

MUMBAI: The Economic Offences Wing (EOW) has arrested two directors of a construction firm accused of defrauding an NRI of ₹10.5 crore. Vishal Shah and Sukhpreet Kalsi, partners at Ajanta Airawat Infrastructure LLP, have been remanded to judicial custody by a magistrate’s court. Rahul Gupta, the complainant, stated that he invested ₹1.5 crore in 2012 through his company into the accused’s firm, which acquired land in Bhandup for a similar amount. After retiring from the partnership in February 2016, Gupta claims he lent ₹6 crore to the company, which has yet to be repaid. A settlement agreement was made in…

Latest StoriesResidential

Housing Sales Fall 7% in Q1 2026 Amid Global Uncertainty

NEW DELHI: Housing sales in India’s top seven cities saw a sequential decline of 7% in the January-March quarter of 2026, influenced by global uncertainties. Nonetheless, demand remained robust year-on-year, according to Anarock Research. A total of 1,01,675 units valued at ₹1.51 lakh crore were sold in Q1 2026, compared to 1,08,970 units worth ₹1.60 lakh crore in the previous quarter. Year-on-year, sales increased by 9% from approximately 93,280 units sold in Q1 2025, while in value, sales dropped 5% quarter-on-quarter but climbed 6% year-on-year. Geopolitical tensions and rising input costs contributed to reduced buyer sentiment during this period, resulting…