Tag: Mumbai

IndustryLatest Stories

Tribeca Developers repays ₹200 crore in construction loan

NEW DELHI: Tribeca Developers has repaid a ₹200 crore construction finance facility ahead of schedule, which was raised for its Mumbai project, The Edge. The company operates in six Indian cities and has launched or delivered over six million sq ft of real estate, accumulating a total revenue exceeding ₹7,000 crore. In FY25, Tribeca Developers achieved sales exceeding ₹4,000 crore. Published On Oct 15, 2025 at 12:34 PM IST Become part of a community with over 2M industry professionals. Subscribe to our newsletter for the latest insights and analysis delivered to your inbox. Access all ETRealty industry updates right on…

Latest StoriesRegulatory

Bombay HC Overturns State’s Land Acquisition Under Slum Act

MUMBAI: On Tuesday, the Bombay High Court nullified the state’s acquisition of a prime private land in Goregaon East, which had been designated as slum land under the Slum Act. The court highlighted the obligations imposed on state officials and the CEO of the Slum Rehabilitation Authority (SRA) before exercising the drastic powers under Section 14 of the Slum Act. Justices Girish Kulkarni and Aarti Sathe acknowledged a plea from NESCO, the private property owner, to overturn the acquisition, deeming it arbitrary and unlawful. They stated, “Such powers should not be invoked at the mercy of unscrupulous parties, disregarding the…

Latest StoriesRegulatory

Maharashtra I-T to penalize sub-registrars for unreported deals

NAGPUR: The income tax department is set to impose significant penalties on property sub-registrar offices (SRO) for failing to accurately report real estate transactions in their financial statements. Investigations at various SROs revealed that transactions totaling approximately Rs13,000 crore were not disclosed in the required format. Registrations of properties valued at Rs30 lakh and above must be reported to the income tax department under the Statement of Financial Transactions (SFT). This marks a rare occasion where a government department penalizes another. Last year, SROs received a penalty notice, but it was for a relatively minor sum. This time, penalties could…

CommercialLatest Stories

Strata Sells Express Zone, Mumbai for ₹40 Cr, 13% IRR

NEW DELHI: Strata has successfully exited its Grade A office investment in Express Zone, Goregaon East, Mumbai, for a transaction value of ₹40 crore. The asset was initially purchased in March 2021 for ₹33.6 crore and fully fractionalized among 120 investors, each contributing ₹25 lakh. During the holding period, investors received a total of ₹12.9 crore in rental payments in addition to the exit proceeds. The transaction yielded a 13% IRR with 20% capital appreciation. Express Zone was first leased to ReachLocal. After the lease concluded, Anand Rathi Global Finance acquired the property, facilitating a successful exit. Published On Oct…

Latest StoriesResidential

Ramabai Nagar Redevelopment in Mumbai Starts October 14

Sure! Here’s a rewritten version of your content: MUMBAI: The long-awaited redevelopment of Ramabai Ambedkar Nagar and Kamraj Nagar in Ghatkopar is set to commence with the bhoomi pujan (groundbreaking ceremony) for Phase I scheduled for Tuesday, October 14. The ₹8,498 crore mega project, being executed by the Mumbai Metropolitan Region Development Authority (MMRDA) alongside the Slum Rehabilitation Authority (SRA), aims to transform a sprawling 31.8-hectare area into a well-planned housing community featuring over 17,000 homes along with essential civic facilities. In the initial phase, construction firm B G Shirke has been awarded the contract to build 4,345 tenements at…

IndustryLatest Stories

Maharashtra earns ₹29,795 crore from property fees by Oct 12

PUNE: Property registrations across Maharashtra continue to thrive, even after the recent increase in the ready reckoner (RR) rate, marking the first uptick in three years. The state has already gathered nearly half of its annual stamp duty and registration fees target as Diwali approaches. According to the state registration department, Maharashtra amassed ₹29,795 crore in stamp duty and registration fees by October 12, equating to 46.9% of the current financial year’s target of ₹63,500 crore. This represents a 7% increase from ₹27,834 crore during the same timeframe last year (up to the end of September), despite the recent RR…

IndustryLatest Stories

Embassy Developers’ Promoters Inject ₹1,160 Crore Funds

Here’s a revised version of your content: NEW DELHI: Embassy Developments (EDL) announced that its promoters have successfully completed the subscription of 100% of warrants through the final tranche amounting to ₹67.7 crore, resulting in a total promoter capital infusion of ₹1,160 crore. This investment was made by converting warrants into equity shares at a price of ₹111.51 per share. The funds will be utilized to bolster the balance sheet, finalize ongoing projects, and support future expansion initiatives in key markets. Rajesh Kaimal, Chief Financial Officer of EDL, stated, “With a strengthened equity base, we are well-positioned to enhance project…

Latest StoriesResidential

Neil Nitin Mukesh and Dad Purchase ₹11.35 Crore Mumbai Apartment

NEW DELHI: Neil Nitin Mukesh Chand Mathur and his father, Nitin Mukesh Chand Mathur, have acquired an apartment in World One by Lodha Group, located in Lower Parel, Mumbai, for ₹11.35 crore. The apartment boasts a carpet area of 189.89 sq meters (2,044 sq ft) and includes two designated parking spaces. The transaction was subject to a stamp duty of ₹68.10 lakh, along with registration fees of ₹30,000, as indicated by the property registration documents from the Inspector General of Registration (IGR) reviewed by Square Yards. The registration of this transaction took place in July 2025. Published on Oct 13,…

Latest StoriesRegulatory

ED files chargesheet against ex-VVCMC chief in building case

MUMBAI: The Enforcement Directorate (ED) has filed a chargesheet against former Vasai-Virar City Municipal Corporation (VVCM) chief Anil Pawar (IAS), town planning deputy director Y.S. Reddy, and 16 others over a money laundering case related to illegal building constructions. As part of the investigation, the ED has attached properties worth around ₹71 crore belonging to the accused and builders who constructed 41 illegal buildings in Vasai Virar, which are now set for demolition following a Bombay High Court ruling. In August, the ED arrested Pawar, Reddy, and two others; they are currently in custody. The ED collected statements from several…

IndustryLatest Stories

Mahindra Lifespaces to Redevelop Four Mumbai Societies

NEW DELHI: Mahindra Lifespace Developers (MLDL), the real estate arm of the Mahindra Group, has been chosen as the preferred partner for redeveloping four residential societies in Malad (West), Mumbai. The project spans approximately 1.65 acres and has a development potential estimated at ₹800 crore. Vimalendra Singh, Chief Business Officer (Residential) at MLDL, stated, “This aligns with our strategy to strengthen our presence in established micromarkets, allowing us to leverage economies of scale and improve project efficiencies.” In a separate regulatory update, the company announced its acquisition of 13.46 acres of land in the prestigious Nande-Mahalunge region of Pune, expected…