Tag: Mumbai

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…

CommercialLatest Stories

Nishitetsu, Runwal to develop ₹2,000-crore office in Mumbai

Representative Image Japanese conglomerate Nishi-Nippon Railroad Co Ltd (Nishitetsu) is set to make its entry into India’s real estate market through a partnership with Mumbai’s Runwal Enterprises. The collaboration aims to jointly develop a commercial project worth Rs 2,000 crore in Kurla, close to the Bandra-Kurla Complex business district. Covering over 3,000 sq. meters, the project will feature over 310,000 sq. ft. of leasable Grade-A commercial office space. Investment management firm Route78 Partners is also participating in this venture. This represents Nishitetsu’s first overseas office development and is part of a broader initiative to expand its urban development presence across…

Latest StoriesResidential

Maharashtra Updates: Incentives for Rental Housing in MMR

Representative AI image MUMBAI: Developers are being incentivized to develop rental housing in the Mumbai Metropolitan Region (MMR). This includes a full income tax waiver on rental income for 10 years, a 5-year property tax exemption, and GST concessions. Additionally, the Maharashtra Housing Area Development Authority (Mhada) has proposed a free increase in floor space index—0.5 in Mumbai and 0.3 in MMR. On Wednesday, Mhada’s vice-president, Sanjeev Jaiswal, presented the draft rental housing policy to builders, seeking their feedback for refinement. Mhada is designated as the nodal agency for this policy and has suggested a 50% reduction in development charges,…

CommercialLatest Stories

Saif Ali Khan Acquires ₹30.75 Crore Property in Mumbai

NEW DELHI: Saif Ali Khan has acquired a commercial property valued at ₹30.75 crore in Kanakia Wallstreet, Andheri East, Mumbai, as revealed by property registration documents accessed by Volney. The property includes two adjoining office units, totaling a carpet area of 5,682 sq ft and a salable area of 9,659 sq ft, along with six designated car parking spaces. Rohan Sheth, founder of the company, noted, “In recent years, we’ve witnessed increasing interest from celebrities and high-net-worth individuals diversifying into grade-A commercial real estate. This sector is perceived as a stable, appreciating asset that complements other investment options.” Volney also…