Tag: Mumbai

Latest StoriesResidential

Hema Malini Sells Mumbai Apartments for ₹12.5 Crore

NEW DELHI: Hema Malini has sold two identical apartments in Oberoi Springs, Oshiwara, Mumbai, for ₹12.50 crore each. Both apartments feature a carpet area of 847 sq ft (79 sq meters) and a built-up area of 1,017 sq ft (94.46 sq meters). Each transaction, priced at ₹6.25 crore, includes one car parking space. The stamp duty for each sale amounted to ₹31.25 lakh, along with registration fees of ₹30,000, as indicated by property registration documents from the Inspector General of Registration (IGR) reviewed by Square Yards. Both sales were officially registered in August 2025. Published On Sep 2, 2025 at…

Latest StoriesRegulatory

Mumbai Land Scam: Police Probe Forged Docs and BMC Sales

Representative AI image MUMBAI: An investigation is underway regarding a purported land scam in Kandivli, involving the heirs of a developer who, along with a builder, allegedly forged documents to reclaim approximately 2.5 acres of land that had already been surrendered to the BMC in return for additional Floor Space Index (FSI). The case was initiated at Borivli police station by BMC engineer Sunil Shete on August 4, 2025. The city’s crime branch has since taken over the case. Meanwhile, authorities have charged the original landowner and the developer who constructed 18 residential buildings on the unreserved five acres of…

IndustryLatest Stories

Excel Infra to Invest ₹250 Crore on New Mumbai Project

NEW DELHI: Excel Infra Construction announced on Monday its plan to invest ₹250 crore in a new housing project in Mumbai. The company revealed that it has initiated a luxury residential project at Bandra Reclamation, backed by an investment of ₹252 crore. Funding will be sourced from a combination of equity and Alternative Investment Fund (AIF) structured as non-convertible debentures. Excel Infra anticipates a revenue of ₹400 crore from this initiative, which features a 33-storey residential tower comprising 96 units. The apartments in the ‘Bellissima’ project are priced at ₹51,500 per square foot. “With a strategically planned investment and the…

IndustryLatest Stories

Puravankara Subsidiary Wins Malabar Hill Redevelopment Project

NEW DELHI: Puravankara, through its wholly owned subsidiary Purva Blue Agate, has secured redevelopment rights for a residential society located in Malabar Hill, Mumbai. This 1.43-acre project has the potential for 0.7 million sq ft of development, which will provide new homes for current residents as well as create a significant number of units for sale. “With this acquisition, our redevelopment portfolio in Mumbai now amounts to 4.25 million sq ft, with a potential Gross Development Value (GDV) of ₹10,500 crore,” stated Rajat Rastogi, CEO – West & Commercial Assets at Puravankara. The projected revenue for this project is estimated…

Latest StoriesRegulatory

SC upholds termination of unused salt pan land lease in Mumbai

MUMBAI: Recently, the Supreme Court upheld an interim order from the Bombay High Court, which denied a request to stay the termination of a lease for 150 acres of salt pan land from a total of 782 acres located in Mulund, Bhandup, and Kanjurmarg. The court emphasized that a stay is not a statutory entitlement in appeals. The Supreme Court expressed a “prima facie opinion,” indicating that the High Court correctly denied relief to the lessee based on equitable considerations, as the specified 150 acres adjacent to the Eastern Express Highway had not been used for salt production for nearly…

IndustryLatest Stories

K Raheja Targets 1.5-Acre Famous Studios in ₹650 Crore Deal

Representational AI Image. Famous Studios, a landmark in South Mumbai renowned for film, television, and advertising shoots since 1946, is on the verge of a change in ownership with a transaction valued at approximately ₹650 crore, according to sources familiar with the matter. Real estate developer K Raheja Corp is in advanced negotiations to purchase the 1.5-acre site located on Dr E Moses Road, which overlooks the Mahalaxmi Racecourse and has hosted numerous generations of Bollywood and advertising luminaries. “The company is expected to finalize the deal as a joint development agreement, involving the sharing of developed space with the…

Latest StoriesRegulatory

Bombay HC Warns of Chaos from Unchecked Illegal Constructions

MUMBAI: The Bombay High Court recently warned that without decisive measures to address illegal constructions, rapidly growing towns could face “a colossal failure” in meeting lawful town planning goals, leading to chaos and disaster for future generations. Justices Girish Kulkarni and Manjusha Deshpande emphasized that civic bodies should promote only the lawful and legitimate expansion of cities, instead of allowing “demons of large-scale unauthorized constructions”. The court, in an order dated August 21, stated, “Resources such as water and electricity, along with public amenities like parks and playgrounds, are intended for those living in authorized buildings.” It asserted that illegal…

Latest StoriesRegulatory

SC Urges Dinshaw Trust to Settle with Bastion on Malad Plots

The Supreme Court urged the F.E. Dinshaw Trust, led by Wadia Group Chairman Nusli N. Wadia, to consider negotiating with Bastion Constructions over the transfer of two plots totaling 99,709 square meters in Malad, Maharashtra. A Bench headed by Justice Aravind Kumar advised senior counsel NK Kaul, representing Wadia, to “sit down and try to settle it,” noting that “prima facie, all odds are against you.” The court requested that both parties report back on any developments during the next hearing scheduled for September 19. In response to a June 27 judgment from the Bombay High Court, which mandated Wadia…

Latest StoriesResidential

Residents Urge CM & BMC to Fast-Track 18-Story Highrise in Mumbai

MUMBAI: On Thursday, 34 residents vacated their flats in Tardeo’s Willingdon View housing society, following a Bombay High Court deadline. Local MLA Mangal Prabhat Lodha, along with other residents, met with Chief Minister Devendra Fadnavis and BMC Commissioner Bhushan Gagrani, urging the swift issuance of the Occupation Certificate (OC) for the upper 18 floors. The High Court had recently declined to extend the August 27 deadline for occupants to leave the upper floors of the 34-story building, which currently lacks OC. According to Assistant Municipal Commissioner of D Ward, Manish Walunju, each floor consists of two flats, some of which…

CommercialLatest Stories

Jet Airways to Transfer Mumbai Office Lease for ₹370 Crore

NEW DELHI | MUMBAI: Jet Airways, which is in the process of liquidation, announced on Wednesday that it has signed an agreement to transfer its office lease in Mumbai for over Rs 370 crore. The lease transfer is pending approval from the Mumbai Metropolitan Region Development Authority (MMRDA) and will be executed in accordance with the Insolvency and Bankruptcy Code (IBC) and Liquidation Regulations, as stated in a regulatory filing. After 25 years of service, the once-renowned Jet Airways halted its operations in April 2019 due to financial challenges, leading lenders to initiate resolution processes under the IBC. During the…