Tag: Mumbai

Latest StoriesRegulatory

Mumbai Realty Firm and Directors Charged with ₹31 Crore Fraud

MUMBAI: A case has been filed against a real estate company and its two directors for allegedly defrauding 19 individuals of ₹31 crore by promising exorbitant returns on an investment in a redevelopment project, as reported on Thursday by officials. The Economic Offences Wing (EOW) of the Mumbai police is currently investigating the matter. A 71-year-old resident of Andheri East recently approached the authorities, accusing M/s Ranbeer Real Estate Developers LLP and its two directors of deceiving him and 18 other investors. The complainant stated to the police that the accused had guaranteed an annual return of 18% on the…

CommercialLatest Stories

HRX Digitech LLP Acquires 4 Commercial Units for ₹10.90 Cr in Mumbai

NEW DELHI: Rakesh Roshan and his son Hrithik Roshan’s company, HRX Digitech LLP, has acquired four commercial units in Andheri West, Mumbai for ₹10.90 crore, according to property registration documents examined by Square Yards. All transactions were registered in November 2025 at Yura Business Park Phase 2. The first property, valued at ₹3.42 crore, features a carpet area of 79.15 sq meters (852 sq ft) and includes two car parking spaces, incurring a stamp duty of ₹20.54 lakh and registration fees of ₹30,000. The second unit was acquired for ₹2.19 crore. It has a carpet area of 50.63 sq meters…

CommercialLatest Stories

Kartik Aaryan’s Parents Purchase Mumbai Office for ₹10.8 Crore

NEW DELHI: Kartik Aryan’s parents have purchased an office unit in Mumbai’s Vile Parle for ₹10.83 crore, as reported by Zapkey. The transaction took place in November, with a stamp duty of ₹65 lakh paid. This property, sold by Notan House, features a carpet area of 1,228 sq ft and includes two parking spaces, as per the documentation. Notandas Realty was the developer of Notan House. Published On Dec 3, 2025 at 10:36 AM IST Join a community of over 2 million industry professionals. Subscribe to our newsletter for the latest insights and analysis delivered to your inbox. Everything about…

IndustryLatest Stories

Mahindra Lifespaces to Revamp Matunga Residential Project

Representative AI image NEW DELHI: Mahindra Lifespace Developers (MLDL), part of the Mahindra Group’s real estate and infrastructure development sector, has been appointed as the development partner for a residential redevelopment project in Matunga, Mumbai. The project covers approximately 1.53 acres and boasts a gross development value of around ₹1,010 crore. According to its investor presentation, Mahindra Lifespaces plans to execute a bottom-up strategy that includes several new launches and ongoing projects through FY30. Projected new launches are expected to represent 50–75% of annual execution in the next five years, with an increase from ₹2,804 crore in FY25 to ₹9,500…

CommercialLatest Stories

IL&FS HQ in BKC may see 25% valuation increase

MUMBAI: IL&FS is set to pursue new valuations for its headquarters located in the Bandra Kurla Complex (BKC). A 25% increase in its current valuation is anticipated following approval from the National Company Law Tribunal (NCLT) to consider the recent surge in Mumbai’s real estate market, according to a source familiar with the situation. The tribunal has mandated Brookfield Asset Management, the global institutional investor, to renew the performance guarantee originally submitted during the bidding process for the property in 2022. “The existing valuation of ₹1,722 crore was established in 2024, and new valuations are projected to be between ₹2,000…

Latest StoriesRegulatory

NCLT Rejects Chronos Properties’ ₹1,080 Cr Bid for IL&FS BKC

MUMBAI: The National Company Law Tribunal (NCLT) has rejected the ₹1,080 crore bid from Brookfield-backed Chronos Properties for the acquisition of Infrastructure Leasing and Financial Services Ltd (IL&FS)’s flagship Bandra Kurla Complex property. On November 28, the NCLT’s Mumbai Bench dismissed Chronos’s application to enforce its bid for the IL&FS Financial Centre located at BKC. The tribunal upheld IL&FS’s right to amend the transaction consideration. It confirmed that the Letter of Intent (LoI) dated March 21, 2022, is a binding contract between the parties, but noted that it includes provisions allowing IL&FS to unilaterally modify the agreement, including financial terms,…

Latest StoriesResidential

Sushmita Sen and Mom Acquire Two Mumbai Apartments for ₹16.89 Cr

NEW DELHI: Sushmita Sen’s mother, Subhra Sen, has acquired two apartments in the Elysian project by Oberoi Realty located in Goregaon East, Mumbai, for a total of ₹16.89 crore. Both purchases were officially recorded in November 2025. Subhra Sen’s first property cost ₹8.40 crore and encompasses a carpet area of 163.59 sq meters (1,760 sq ft), which also includes one designated car parking space. The transaction involved a stamp duty fee of ₹42.02 lakh along with registration charges of ₹30,000, as per property registration documents reviewed by Square Yards. The second apartment was acquired for ₹8.49 crore and shares the…

Latest StoriesResidential

Maharashtra Seeks SRA Input on Housing for First-Floor Slum Residents

Representative image MUMBAI: The state government has requested a report from the Slum Rehabilitation Authority (SRA) about allowing slumdwellers on the first floor of chawls to qualify for free or affordable housing. Officials from the housing department noted that the finance department is seeking detailed information on the potential financial implications for the government if concessions or exemptions are granted to developers to include first-floor slumdwellers in housing schemes. “The SRA must promptly address the finance department’s inquiries. Once that is accomplished, the matter will be presented to the state cabinet for approval, leading to the issuance of a government…

IndustryLatest Stories

Mumbai Housing Societies Toughen Stance on Builders in Redevelopment

MUMBAI: Traditionally, developers have wielded considerable influence in the real estate market. However, housing societies planning redevelopment are now shifting dynamics in their favor. With builders eager to secure redevelopment rights, these societies are negotiating aggressively, often making “unrealistic demands” for their properties. Market insiders report that housing societies are seeking additional space, hardship compensation, and relocation amounts that exceed prevailing market standards by as much as 15%–25%. Alongside standard area matching and displacement compensations, many are requesting excess amenities and significant hardship payments per member. Some expectations extend beyond what’s feasible, with societies demanding extensive additional area, substantial displacement…

Latest StoriesResidential

Mumbai property registrations rise 20% in November to 12,219

NEW DELHI: According to Knight Frank, property registrations in the Mumbai region surged by 20% in November, reaching 12,219 units. This marks an increase from 10,216 units registered in November of the previous year. Real estate consultant Knight Frank India, citing Maharashtra government data, reported that within the area governed by the BMC, Mumbai saw 12,219 property registrations this November—an impressive 20% year-on-year increase. This is the highest November registration figure since 2013. Stamp duty collections also rose to Rs 1,038 crore, up 12% from last year. Residential transactions dominated the market, making up around 80% of the total registrations…