Tag: Mumbai

Latest StoriesRegulatory

BMC to Auction Five Properties Over ₹27 Crore Tax Dues

MUMBAI: The municipal corporation has issued a notice that five properties belonging to property tax defaulters, including the Hotel Oakwood at Juhu, will be auctioned due to unpaid property tax dues amounting to over Rs 27 crore. As per the announcement from the BMC, these properties will be put up for auction if the outstanding property tax arrears are not settled within 21 days from the notice date. The properties earmarked for auction consist of a hotel, a land plot, land of a housing society, and a residential building with shops, among others. “This is an ongoing initiative. We will…

Latest StoriesRegulatory

Vasai-Virar suspends assistant commissioner for inaction on illegal buildings

VIRAR: The Vasai-Virar City Municipal Corporation (VVCMC) suspended Ganesh Patil, an Assistant Municipal Commissioner (AMC), for failing to take action against illegal constructions in his area. The corporation emphasized that ongoing illegal structures will no longer be tolerated. Following the Virar building collapse last month that resulted in 17 deaths and nine injuries, VVCMC pledged to initiate a significant demolition campaign starting September 8. A special team consisting of ten squads, each with five VVCMC members, was created for this purpose. Patil received a show cause notice on September 9, yet he and his team allegedly took no action on…

IndustryLatest Stories

BMC Seeks Developers for Mumbai Slum Rehab on 26 Parcels

MUMBAI: On Thursday, the BMC announced the invitation for Expressions of Interest (EOI) from qualified developers to undertake slum rehabilitation projects on 26 civic-owned land parcels, as per Regulation 33(10) of the Development Control and Promotion Regulations 2034. BMC’s latest initiative comes four months after it sought EOIs for 64 Slum Rehabilitation Authority (SRA) schemes, covering approximately 49,000 structures over an area of about 8.4 lakh sq m, which attracted insufficient interest. A senior civic official commented, “BMC acts as the planning authority for 64 SRA schemes, of which 17 have been suspended. EOIs were solicited for 47 schemes in…

IndustryLatest Stories

New Policy to Regularise 25,000+ Mumbai Buildings Without OC

MUMBAI: Ashish Shelar, the Guardian Minister for Mumbai Suburbs, announced on Thursday that a new government policy will soon regularize over 25,000 buildings in the city that have been denied Occupation Certificates (OC). This initiative, ahead of the upcoming civic polls, will provide significant relief to thousands of residents living in these structures who have been classified as “unauthorized occupants.” The decision was made during a meeting attended by the Brihanmumbai Municipal Corporation (BMC), along with the urban development, revenue, and co-operation departments, according to Shelar. “We are creating a policy to issue OCs for buildings constructed under the BMC’s…

InfrastructureLatest Stories

BMC Unveils Proposed ESZ Plan for SGNP in Mumbai

MUMBAI: The Brihanmumbai Municipal Corporation (BMC) unveiled a draft management plan for the Eco-Sensitive Zone (ESZ) surrounding Sanjay Gandhi National Park (SGNP) on Wednesday. While the document proposes measures to safeguard the 103 sq km green space, environmentalists express concerns that it might pave the way for industrial and real estate encroachment. The draft cautions about “significant pressure on the environment,” flagging slums, quarries, and ready-mix concrete plants for monitoring. However, the establishment of three graded zones, according to critics, could facilitate industrial growth and new developments. Relocation of Slums Suggested The proposal identifies about 184.51 hectares of slums in…

IndustryLatest Stories

RBI Signs ₹3,472 Crore Deal for New Office at Nariman Point

Representative image MUMBAI: In a landmark transaction, the Reserve Bank of India (RBI) has finalized an agreement with Mumbai Metro Rail Corporation Ltd (MMRCL) to acquire a 4.2-acre plot at Nariman Point for ₹3,472 crore, which will house its new office complex. This year, the Wadia Group’s Bombay Dyeing and Manufacturing Company sold a 22-acre parcel in Worli to Goisu Realty, a subsidiary of Japanese developer Sumitomo, for ₹5,200 crore. MMRCL representatives stated that the sale deed for the Nariman Point plot was officially registered on September 5, allowing the central bank to progress with its new office complex in…

Latest StoriesResidential

Mumbai housing society redevelopment to add ₹1.3L crore homes: Report

NEW DELHI: The Mumbai region is set for significant redevelopment, with over 44,000 new homes expected by 2030, valued at ₹1.3 lakh crore, according to a report by Knight Frank. On Wednesday, the real estate consultant Knight Frank India released insights indicating that Mumbai’s redevelopment landscape is evolving remarkably. “A blend of policy incentives, asset-light developer strategies, and favorable capital markets have transformed redevelopment into a strategically valuable endeavor,” the consultant noted. Knight Frank estimates that ongoing society redevelopment projects in the Mumbai (MCGM) area will yield a total of 44,277 new homes worth ₹1,30,500 crore. Since 2020, 910 housing…

InfrastructureLatest Stories

Dombivli Demolition Halted as Urban Dept Summons KDMC Chief

KALYAN: The Kalyan-Dombivli Municipal Corporation (KDMC) abruptly cancelled the demolition of Samarth Complex, one of 65 illegal buildings built with fake RERA certificates, after officials were summoned by the state urban development department. The final decision now lies with this department. On Tuesday, prior to the planned demolition at 11 AM, residents of Samarth Complex staged a dramatic protest, threatening to self-immolate with bottles of petrol if KDMC proceeded. They claimed the state government had assured them in February that there would be no demolitions. Since 2020, 65 illegal buildings, many on government land, have been constructed in the Dombivli…

InfrastructureLatest Stories

Maharashtra Cabinet Approves ₹2,000 Crore Loan for Urban Projects

MUMBAI: The state cabinet approved borrowing Rs 2,000 crore from the Housing and Urban Development Corporation Ltd (Hudco) on Tuesday to fund various municipal projects under the Urban Infrastructure Development Loan Scheme. An official stated, “This decision will facilitate raising Rs 822 crore for the Chhatrapati Sambhajinagar Municipal Corporation’s water supply project, Rs 268.84 crore for four sewage projects in the Nagpur Metropolitan Region, and Rs 116.28 crore for Mira Bhayandar Municipal Corporation’s water supply project.” “Several projects funded by the centrally sponsored Amrut 2.0 Mission, Swachh Bharat Mission 2.0, and the Maharashtra Golden Anniversary Urban Upliftment Mission are in…

IndustryLatest Stories

Godrej’s Masterplan for 1,000 Acres in Vikhroli

Representative Image MUMBAI: The Godrej Enterprise Group, a major landholder in Mumbai, is developing a comprehensive master plan for its 1,000-acre parcel located in suburban Vikhroli, as confirmed by a senior executive on Tuesday. Jamshyd Godrej and his sister Smita Crishna, who oversee the group, have shifted some manufacturing operations from this site but will continue production at Vikhroli, noted GEG’s Executive Director Nyrika Holkar during a press briefing. “We will maintain manufacturing activities in Vikhroli, and we are currently undertaking a master planning exercise to ensure systematic development over time,” Holkar stated. As Holkar explained, the land is primarily…