Tag: Mumbai

Latest StoriesResidential

Suraj Estate Developers unveils ₹250 crore Mumbai project

MUMBAI: Suraj Estate Developer, a Mumbai-based real estate firm, has introduced a luxury residential project valued at Rs 250 crore, as revealed in an exchange filing. The 29-storey venture, named Suraj Park View 1, is a premier residential tower situated at Shivaji Park, Dadar (West). Rahul Thomas, Whole-Time Director at Suraj Estate Developers, commented, “The launch of Suraj Park View 1 embodies Dadar’s cultural essence while addressing the modern homebuyer’s aspirations. Dadar continues to stand as one of Mumbai’s most resilient micro-markets, fueled by strong end-user demand.” The project spans a saleable carpet area of 0.53 lakh sq. ft. and…

Latest StoriesRegulatory

Bombay HC Demands Report from SRA CEO on Half-Sold Flats

MUMBAI: The Bombay High Court has taken a serious stance regarding illegal transfers of flats built under the slum rehabilitation scheme in Sion-Koliwada. The court has called for a report from the CEO of the Slum Rehabilitation Authority (SRA). It was reported that although a part-occupation certificate was issued to Nirmal Nagar SRA CHS on January 7 to house 804 slum-dwellers, 410 of them have sold their flats. “If the petitioner’s claims hold true, we have significant doubts about the legality of the Slum Rehabilitation Authority’s control over the slum schemes,” remarked Justices Girish Kulkarni and Aarti Sathe on September…

IndustryLatest Stories

Arnya Launches ₹1,000 Crore Mumbai, Pune Redevelopment Fund

Arnya Real Estate Fund has collaborated with Mumbai-based developer Supreme Universal to establish a platform for a ₹1,000 crore real estate equity fund. This fund will primarily target residential redevelopment projects in Mumbai and Pune. The fund consists of a base corpus of ₹500 crore, with an option to raise an additional ₹500 crore. It aims to facilitate scalable and structured redevelopment initiatives in two of India’s most dynamic housing markets. “Our strategy is to create an investment platform that provides investors with access to redevelopment opportunities. Mumbai’s redevelopment sector offers a scalable and resilient business model within the Indian…

IndustryLatest Stories

HoABL invests ₹200 crore in Mumbai’s affordable housing, plans 7 more projects

MUMBAI: Realty company House of Abhinandan Lodha is investing ₹200 crore in an affordable housing project located in suburban Naigaon and is exploring seven additional sites for similar developments across metropolitan Mumbai, a senior official revealed on Monday. Abhinandan Lodha, chairman of HoABL, shared with reporters that discussions have commenced on one of the sites while others are still being evaluated. The identified sites include one close to the upcoming Navi Mumbai International Airport, he added. “All projects will be joint developments with landowners. We aim to achieve over 20 lakh sq ft of development potential, expected to be delivered…

Latest StoriesRegulatory

Court summons Prathamesh Developers in Patra Chawl scam

MUMBAI: A special court in Mumbai has summoned Prathamesh Developers through its partner businessman Pravin Raut in connection to a money laundering case tied to the Patra Chawl scam, noting their involvement in siphoning off the proceeds of crime. Sanjay Raut, a Rajya Sabha MP from Shiv Sena (UBT), is also implicated in the case, which is being heard by a special court for lawmakers. On September 20, special judge for criminal cases involving MPs/MLAs, Satyanarayan Navander, asserted that there is clear prima facie evidence of money laundering. The court issued summonses to Prathamesh Developers via its partner Pravin Raut—a…

Latest StoriesRegulatory

Mumbai Builder Charged ₹13 Crore in Fraud by Economics Wing

MUMBAI: The Economic Offences Wing has filed a chargesheet against builder Lalit Jain for falsifying property documents and defrauding a businessman from Nagpur by persuading him to invest ₹12.50 crore in a redevelopment project in South Mumbai. Jain failed to reveal that the property, Sanjana Building in Malabar Hill, was embroiled in litigation with the Waqf Board. Jain convinced the complainant, Mahesh Goyal, and his family to invest ₹12.50 crore in the project with promises of a 45% equity stake in his Safeway Project Pvt. Ltd. and an annual return of 18%. However, only 25% of the shares were actually…

IndustryLatest Stories

Lodha Sells 24-Acre Mumbai Land to STT Global for ₹500 Crore

Representative image created by AI NEW DELHI: Lodha Developers Ltd has sold over 24 acres of land in the Mumbai region to STT Global Data Centres, a Singapore-based firm, for approximately Rs 500 crore, according to sources. The land acquisition has been officially registered, comprising 24.34 acres at Palava. Lodha Developers sold 1.74 acres, while its subsidiary, Palava Induslogic 4 Pvt Ltd, sold 22.6 acres, totaling nearly Rs 499 crore. The company has not commented on this deal. Earlier this month, Lodha Developers signed a Memorandum of Understanding (MoU) with the Maharashtra government to establish a green integrated data centre…

IndustryLatest Stories

Maharashtra to Get Authority for Redevelopment Oversight

PUNE: The state housing department is expected to soon finalize the establishment of an independent authority similar to MahaRERA, aimed at providing a structured, transparent, and accountable framework for supervising redevelopment projects throughout Maharashtra. Members of the advisory committee stated that the initiative follows comprehensive feedback from housing society federations and associations. Committee chairman Rajendra Mirgane informed TOI that recommendations have already been submitted, and a notification will be issued shortly. The demand for such an authority has escalated, particularly as Maharashtra experiences a rise in redevelopment and self-redevelopment activities. Mirgane explained that this proposed authority will create a systematic…

Latest StoriesRegulatory

Bombay HC Orders Maharashtra to Tackle SRA Staffing Issues

Sure! Here’s a rewritten version of the content: MUMBAI: The Bombay High Court recently addressed the understaffing issues at the Slum Rehabilitation Authority (SRA), deeming it a serious concern. The court instructed the state government to ensure timely approval for adequate staffing to prevent recurrent issues from reaching the courts. A division bench comprising Justices Girish Kulkarni and Aarti Sathe highlighted, “It is unacceptable for the Chief Executive Officer, with significant authority, to operate ineffectively and lack oversight of matters within their jurisdiction, particularly in cases where no occupation certificate has been issued for nearly 15 years.” This comment was…

CommercialLatest Stories

Apple Extends Office Lease in Mumbai’s Bandra-Kurla Complex

Apple India has extended its lease for several office floors at Maker Maxity in the Bandra-Kurla Complex, Mumbai, while also acquiring additional space in the tower. This expansion underscores Apple’s increasing footprint in India’s financial hub as its operations in the country continue to grow. The company has renewed its leases for office units on the 5th, 6th, 7th, and 8th floors of Maker Maxity 4 & 5 North Avenue, and has signed a new lease for the 10th floor and the terrace area. Altogether, the leased space now encompasses 37,549 square feet across five floors, with Apple set to…