Tag: Mumbai

Latest StoriesRegulatory

Maharashtra Eases Land Rules Restricted by Fragmentation Act

NAGPUR: The Maharashtra government has taken a significant step in land reform by officially regularizing numerous land parcels previously constrained under the Fragmentation and Consolidation of Holdings Act, 1947. This change is expected to benefit nearly 20 million citizens. Revenue Minister Chandrashekhar Bawankule announced the implementation of this long-awaited amendment following the issuance of a government gazette notification on Tuesday. Describing it as a momentous and citizen-focused reform, Bawankule stated, “Approximately 4.9 million landholders—representing around 20 million family members—will now have their names officially listed on 7/12 land extracts. This decision resolves decades of confusion and challenges posed by antiquated…

Latest StoriesResidential

No Authority: Registrars Can’t Issue NOCs for Redevelopment

PUNE: Maharashtra Cooperation Commissioner Deepak Taware has clarified that registrars and sub-registrars lack the authority to issue a ‘no objection certificate’ (NOC) to housing societies for property redevelopment. The commissioner emphasized that the general body of the cooperative housing society is the primary decision-making authority regarding redevelopment matters. Referring to a writ petition in the Bombay High Court, Taware highlighted that a 2019 government resolution defines the roles of registrars and cooperative societies as supervisory only. According to the Maharashtra Cooperative Societies Act, 1960, there are no provisions granting registrars the right to issue NOCs for redevelopment, underscoring that the…

Latest StoriesResidential

Amitabh Bachchan Sells 2 Luxury Mumbai Apartments for ₹12 Crore

Bollywood star Amitabh Bachchan has sold two adjacent luxury apartments, collectively spanning 3,640 sq ft, in a high-rise residential tower located in Goregaon, Mumbai, for a total price of ₹12 crore. Each apartment, measuring 1,820 sq ft, is situated on the 47th floor. The first sale was recorded on October 31 for ₹6 crore, with the second transaction occurring the following Saturday for an equal amount. A total stamp duty of ₹60 lakh applies to these transactions. The sales were conducted separately with different buyers, as indicated by documents obtained from the real estate data analytics platform CRE Matrix. Each…

Latest StoriesRegulatory

Mumbai Court Denies Builder’s Bail After Site Death

MUMBAI: A sessions court has denied anticipatory bail to builder Bhavesh Sanghrajka (43), noting that the safety nets at his construction site were severely damaged. This ruling follows the tragic death of 22-year-old Sanskruti Amin, who was struck by a concrete brick that fell from the 19th floor of Sanghrajka’s building on October 7. “The photographs reveal significant damage to the safety nets, rendering them ineffective. The court was made aware of the government’s Special Safety Control guidelines relating to high-rise construction, which the builder failed to follow,” stated Additional Sessions Judge TT Aglawe in an order dated October 29.…

CommercialLatest Stories

Smartworks Leases 8.15 Lakh Sq Ft at Eastbridge, Mumbai

NEW DELHI: Smartworks Coworking Spaces has secured over 8.15 lakh sq ft of workspace at Eastbridge, a commercial project by Regalia Office Parks, located in Vikhroli West, Mumbai. This center is set to open in Q4 of 2026. Regalia Office Parks is part of the commercial office division of the Niranjan Hiranandani Group. Recently, Smartworks also leased 5.57 lakh sq ft at Tata Realty’s Intellion Park in Navi Mumbai, and operates six office campuses across India, each exceeding five lakh sq ft. Published On Nov 3, 2025 at 02:30 PM IST Join a community of over 2M industry professionals. Subscribe…

IndustryLatest Stories

Maharashtra Revamps Rules for Redevelopment Projects

MUMBAI: The Maharashtra government has announced proposed amendments to the Development Control and Promotion Regulations (DCPR) 2034 for Greater Mumbai, aimed at enhancing the feasibility and financial viability of redevelopment schemes under the Maharashtra Housing and Area Development Authority (MHADA). The proposal comes after MHADA approached the state government, requesting modifications to existing provisions to bolster the viability of its redevelopment projects. Currently, Regulation 31(3) permits builders to receive extra ‘fungible’ construction area, exempt from premium charges, based solely on the existing built-up area of a project. The government intends to expand this benefit to include the rehabilitation area, allowing…

Latest StoriesResidential

Builders Target Linking Road Societies, Offering Up to ₹1L/Sq Ft

MUMBAI: Marketed as Mumbai’s equivalent to London’s Oxford Street and Manhattan’s Fifth Avenue, Linking Road has become a hotspot for builders eager to acquire entire housing societies, making jaw-dropping offers that are shaking up the real estate landscape. The mantra seems to be “Take the money and move on,” with most families readily accepting these lucrative deals. Take Brindaban Society on Linking Road in Santacruz West, for example. Developer Mohit Kamboj from Aspect Realty, known for his ties to the BJP and CM Devendra Fadnavis, has spent approximately Rs 170 crore to buy all 14 apartments in the Brindaban. “This…

Latest StoriesResidential

Mumbai property registrations fall 14% to 11,200 in October 2025

NEW DELHI: Mumbai city (BMC jurisdiction) is projected to see approximately 11,200 property registrations in October 2025, with stamp duty collections reaching ₹1,004 crore. This represents a 14% decline in registrations year-on-year and a 17% drop in revenue collections. Comparing month-over-month data, registrations decreased by 7%, and stamp duty collections saw a 22% decline. Residential transactions accounted for about 80% of all registrations during the month. Prashant Sharma, president of NAREDCO Maharashtra, commented, “The slight decline in registrations this October should be viewed as a temporary adjustment, not a cause for concern. We anticipate that with supportive government initiatives and…

IndustryLatest Stories

SRA to Map All Mumbai Slum Structures by Dec 2025

NEW DELHI: The Slum Rehabilitation Authority (SRA) has set a goal to map every slum structure in Mumbai by December 2025 as part of a tech-driven reform initiative aimed at expediting slum rehabilitation schemes, according to CEO Mahendra Kalyankar. The SRA has launched digital innovations, including a STQC-certified web portal available in 25 languages, integrated online modules with role-specific access, blockchain-based document approvals, and chatbot-enabled consumer interfaces. These enhancements are designed to improve transparency, accelerate project approvals, and heighten accountability in scheme implementation. Sukhraj Nahar, president of CREDAI MCHI, noted that the SRA’s embrace of technology and development-oriented approach has…

Latest StoriesRegulatory

Mumbai: Builder, aide held for cheating contractor of ₹10 crore

Sure! Here’s a rewritten version of the content: MUMBAI: The Bandra Police have apprehended builder Neeraj Kakad and his assistant Vikas Kadam for allegedly defrauding a contractor from Khar of ₹9.57 crore and threatening him with violence. They will appear before the Bandra court soon. Neeraj was taken into custody at his residence in Bandra, while his wife, son, and officials Ujjal Singh and Vikas Kadam remain at large. The complaint was lodged by Sohail Subedar, a civil contractor and partner at Khalifa Infrastructure LLP, who was introduced to Kakad through a mutual contact in 2020. Subedar’s firm was contracted…