Tag: Mumbai

CommercialLatest Stories

Mindspace REIT Buys Mumbai & Pune Assets for ₹29.2B

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has secured three key central business district properties for ₹29.2 billion from K Raheja Corp. The board of K Raheja Corp Investment Managers, responsible for managing Mindspace REIT, approved the acquisition and a preferential issue of units totaling up to ₹18.2 billion. The company also announced the purchase of Pramaan Properties, which includes 0.45 million sq ft at Ascent – Worli in Mumbai, alongside an office building of 0.1 million sq ft located in Kalyani Nagar, Pune. Additionally, Sundew Real Estate, which owns 0.2 million sq ft at The Square Avenue 98…

Latest StoriesResidential

Mumbai: Builder Demolishes Society Using Illegal Explosives

Representative AI image MUMBAI: A sense of panic gripped Sahyog Nagar in Andheri West on Thursday morning after allegations arose that the New Vikas Co-operative Housing Society was demolished without adhering to BMC guidelines. Residents reported that the developer allegedly used prohibited explosives, creating an explosion-like sound and a massive dust cloud that enveloped the neighborhood. According to local residents, the demolition occurred around noon on November 26, without any standard safety measures in place. They accused the developers of using banned explosives, posing a grave risk to the densely populated area. Parag Motani, a Shastri Nagar resident, was at…

IndustryLatest Stories

Mt K Kapital Unveils $450M Real Estate Fund for Major Cities

NEW DELHI: Mt K Kapital, a real estate investment management firm, has launched its second fund with a target of USD 450 million. This fund receives backing from both general and limited partners. The firm’s objective with this new fund is to invest in projects during the acquisition stage, focusing on locations such as Mumbai, NCR, Pune, and Bengaluru. The target for fund deployment is set for early 2026. Boman Irani, CMD of Rustomjee Group, remarked, “The initial fund, a ₹790 crore MMR-focused initiative, has set a precedent in underwriting, project oversight, and investor relations.” Published On Nov 27, 2025…

CommercialLatest Stories

Sunaina Rakesh Roshan Acquires ₹6.42 Crore in Mumbai Units

Representative image NEW DELHI: Sunaina Rakesh Roshan has acquired two commercial units in Vaidya West World One Aeropolis, Andheri East, Mumbai, totaling ₹6.42 crore. The first property costs ₹3.16 crore, featuring a carpet area of 113.06 square meters (1,217 sq. ft.), and includes two car parking spaces. According to property registration documents from the Inspector General of Registration (IGR), the transaction incurred a stamp duty of ₹18.98 lakh and registration charges of ₹30,000. The second unit, valued at ₹3.26 crore, offers a carpet area of 116.50 square meters (1,254 sq ft) and also comes with two parking spots, involving a…

CommercialLatest Stories

Sporta Technologies Leases 1.69 Lakh Sq Ft in Worli, Mumbai

Sporta Technologies, the parent company of the fantasy gaming platform Dream11, has secured a long-term lease for an office space spanning four floors in a commercial tower located in Mumbai’s Worli area. The deal involves total rental payments close to Rs 300 crore over the lease duration, marking one of the largest single-tenant office agreements in the city this year. The company has signed an agreement with K Raheja Corp to lease a 169,250 sq ft office space in the Ascent Worli project on Sudam Kalu Ahire Marg. This lease, lasting 60 months and featuring a 36-month lock-in period, includes…

CommercialLatest Stories

Rakesh Roshan and wife purchase 5 Mumbai units for ₹19.68 crore

NEW DELHI: Rakesh Roshan and his wife, Pramila, have acquired five commercial units in Vaidya West World One Aeropolis, Andheri East, Mumbai, for a total of ₹19.68 crore, based on property registration documents from the Inspector General of Registration (IGR) obtained by Square Yards. All transactions occurred in November 2025. The first property, priced at ₹3.27 crore, has a carpet area of 116.96 sq meters (1,259 sq ft) and includes two parking spaces. It incurred a stamp duty of ₹19.64 lakh and registration fees of ₹30,000. The second property, valued at ₹2.83 crore, has a carpet area of 101.17 sq…

Latest StoriesResidential

Mumbai’s Redevelopment Surge Drives Home Rents Soaring

MUMBAI: Contrary to expectations, the rental pressure in Mumbai remains high despite the ongoing redevelopment initiatives that began post-pandemic, with numerous new towers emerging to increase housing stock. In fact, the situation has worsened. As housing societies continue to sign redevelopment agreements, the actual availability of rental units has declined, causing rents to rise instead of stabilize. In Khar West, a housing society entered a development agreement two years ago, offering members alternative housing at a rate of Rs 140 per square foot per month. However, construction delays meant that members had to vacate recently, only to be faced with…

Latest StoriesRera

MahaRERA Releases SOP to Speed Up Compensation Recovery

PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has introduced a detailed standard operating procedure (SOP) to streamline the process of obtaining compensation from developers who disregard its orders. Released on Thursday, in response to directives from the Bombay High Court, the SOP outlines strict timelines and escalation measures, which may include property attachment and civil imprisonment, as noted by MahaRERA officials. According to senior MahaRERA officials speaking to TOI, the new SOP is designed to “ensure strict compliance with the high court’s ruling and offer timely relief to homebuyers.” Developers are now required to compensate affected homebuyers within 60…

IndustryLatest Stories

BMC Seeks Tenants for 30-Year Lease of Worli Plot

Representative AI image MUMBAI: On Friday, BMC released a tender for leasing a plot in Worli for a 30-year term, extendable by an additional 30 years, under a model ensuring private participation. The plot covers 1,299.52 sq m and is strategically located near the Bandra Worli Sealink. Last year, G South ward officials reclaimed this plot after the previous lease expired, with intentions of converting it into a municipal gymkhana for officers. As part of the newly announced tender, the successful bidder will need to develop the plot in accordance with the sanctioned Development Plan 2034 for the G/South ward.…

InfrastructureLatest Stories

Mumbai Construction Sites to Close if AQI Exceeds 200: BMC

MUMBAI: The Brihanmumbai Municipal Corporation (BMC) has issued a warning that industrial units and construction activities in Mumbai may face shutdown if the Air Quality Index (AQI) in any area consistently exceeds 200 after mitigation measures are implemented. According to a statement released on Thursday, actions will be enforced under the Graded Response Action Plan-4 (GRAP-4) if emissions continue to elevate AQI levels beyond accepted limits. To ensure strict adherence to its 28-point guidelines aimed at reducing air pollution, the BMC has deployed flying squads in every ward. Each squad will include two engineers and a police officer, tasked with…