Tag: Mumbai

Latest StoriesResidential

500+ Worli BDD Chawl Tenants in Mumbai to Receive Flats

MUMBAI: After a lengthy wait, 556 families from Worli’s BDD chawls will receive the keys to their new 500-sq ft apartments on Thursday. Two of the redevelopment phases—Wings D and E—are ready for occupancy. A ceremony will see chief minister Devendra Fadnavis and his deputy Eknath Shinde present keys to fifteen families involved in the redevelopment campaign, along with a few senior citizens. The remaining keys will be distributed later at the Mhada office. Bajrang Kale, 53, recites his former address. “Room No. 78, Building No. 31, 3rd floor, Worli BDD Chawl, GM Bhosle Marg—that’s the old address,” he notes,…

Latest StoriesResidential

Etonhurst Capital Acquires 37 Worli Apartments for ₹500 Crore

Real estate investment management firm Etonhurst Capital Partners has acquired over 37 luxury apartments in a high-end residential project located in the upscale Worli area of Mumbai for more than Rs 500 crore. This acquisition marks the first inventory buyout by an institutional investor in India’s growing luxury housing sector. Etonhurst purchased these apartments from Piramal Finance, a non-banking finance company under the Piramal Group, which had acquired the inventory as part of a debt settlement agreement with the project’s developer, Omkar Realtors & Developers. The transaction consists of units in towers A and B of Omkar 1973, which have…

IndustryLatest Stories

CM: Split Dharavi Land for Rehab Units and For-Sale Homes

Certainly! Here’s a rewritten version of your content: Representative image created by AI MUMBAI: Chief Minister Devendra Fadnavis has instructed the Dharavi Redevelopment Project (DRP) to enhance the size of rental tenements to 350 sq ft for residents not eligible for free housing and rehabilitation within the Dharavi notified area. For residents of planned buildings, the size will increase from 405 sq ft to 500 sq ft, as revealed by an RTI application regarding a meeting held on May 28. He also instructed the DRP to ensure that land in Dharavi be evenly split between the rehabilitation section and the…

CommercialLatest Stories

Brookfield buys Jet Airways’ Mumbai office via insolvency

Sure! Here’s a revised version of the content: — Representative image created by AI In a significant update regarding Jet Airways’ insolvency proceedings, Brookfield Asset Management, a major global investment firm, has acquired an additional office floor within the Godrej BKC commercial tower in Mumbai’s Bandra-Kurla Complex for ₹370.25 crore, according to sources familiar with the matter. The transaction was executed under the Insolvency and Bankruptcy Code (IBC) and supervised by the National Company Law Tribunal (NCLT). Initially, Bank of Baroda was the highest bidder, but Brookfield utilized its right of first refusal to match the bid and secure the…

Latest StoriesResidential

South Mumbai Societies Enticed by Luxe Lunches for Redevelopment

MUMBAI: This weekend, a prestigious luxury hotel in South Mumbai will host meetings for affluent residents of a prime housing society on Altamont Road, one of the most expensive residential areas in India. Three of Mumbai’s top developers will separately present their redevelopment proposals. The competition for these prime properties is expected to be fierce, as new apartments can demand prices exceeding Rs 1.5 lakh per square foot. On Saturday, a notable developer from Goregaon has reserved a large banquet hall at the hotel. The following day, another major developer will host a lunch at an entire restaurant located on…

IndustryLatest Stories

Puravankara reports ₹68.55 crore net loss in Q1 FY26

NEW DELHI: Puravankara reported a net consolidated loss after tax of ₹68.55 crore for the quarter ending June 30, 2025, compared to a profit after tax of ₹14.78 crore in the same quarter last year, as stated in a BSE filing. The company’s net consolidated total income for Q1 FY26 was ₹538.64 crore, reflecting a decline of 20.27% from ₹675.55 crore in the same quarter the previous year. Ashish Puravankara, the company’s managing director, commented, “Our handovers and sales did not meet expectations due to regulatory changes, including e-Khata and modifications in byelaws. Despite this, our team is optimistic about…

IndustryLatest Stories

DLF to invest ₹23,500 crore in ongoing housing projects

NEW DELHI: DLF Ltd, India’s leading real estate firm, plans to invest ₹23,500 crore to finalize its ongoing residential projects in Delhi-NCR and Mumbai. As outlined in an investor presentation, the total estimated cost to complete these launched projects is ₹23,500 crore. To finance the pending construction, DLF has reported a cash reserve of ₹10,429 crore, with ₹7,782 crore held in an escrow account regulated by the Real Estate Regulatory Authority (RERA). Furthermore, the company holds receivables totaling ₹37,220 crore from customers for residential properties sold. DLF’s Chief Financial Officer (CFO) recently stated in a conference call that the company…

InfrastructureLatest Stories

Maharashtra Funds Approved for Land Survey Rovers

Representative image created by AI MUMBAI: The Maharashtra government has approved a Rs 1,732 crore initiative to modernize land survey operations and enhance infrastructure for the revenue and land records departments. Under this plan, Rs 132 crore will be designated for acquiring 1,200 advanced rovers to improve land measurement efficiency as part of the e-Survey 2.0 project. Furthermore, Rs 1,600 crore has been allocated for the construction of new office buildings and residential accommodations for revenue officials, as per a statement from Revenue Minister Chandrashekhar Bawankule’s office. This decision was made during a high-level meeting led by Deputy Chief Minister…

Latest StoriesRegulatory

Bombay HC Extends Tardeo Tower Eviction Deadline by Three Weeks

MUMBAI: The Bombay High Court has granted an additional three weeks for residents of the top 18 floors of the 34-storey Tardeo tower to vacate their homes. On August 1, the Supreme Court upheld the High Court’s ruling, which instructed the residents to vacate the floors without an occupancy certificate. The initial deadline was set for August 2. The Supreme Court indicated that residents could apply for an extension through the High Court. They requested four weeks, citing the need for alternate housing for their school-going children. The High Court granted the extension, noting it as a ‘mercy plea,’ and…

IndustryLatest Stories

Sri Lotus Developers’ Stock Soars 31% on Debut

NEW DELHI: Shares of Sri Lotus Developers and Realty, supported by renowned investor Ashish Kacholia, ended their first trading day with a remarkable rise of over 31% compared to the issue price of Rs 150 on Wednesday. The stock debuted at Rs 179.10, reflecting a 19.4% increase from the issue price on the BSE. Throughout the day, shares soared by 31.3%, reaching a peak of Rs 197 each. Shares eventually settled at Rs 196.85, up 31.23%. On the NSE, the stock opened at Rs 178, marking an 18.67% rise. It eventually closed at Rs 195.80, a 30.53% increase, which is…