Tag: Mumbai

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…

Latest StoriesResidential

Anil & Harsh Varrdhan Kapoor Purchase ₹5 Crore Mumbai Flat

NEW DELHI: Anil Kapoor and his son Harsh Varrdhan Kapoor have purchased an apartment in The Smoky Hill CHS located in Bandra West, Mumbai, for ₹5 crore. The apartment boasts a built-up area of 108.25 square meters (1,165 square feet) and a carpet area of 90 square meters (970.71 square feet), according to the Inspector General of Registration (IGR) documents reviewed by Square Yards. The transaction was officially recorded in August 2025. The deal involved a stamp duty payment of ₹30 lakh and registration fees of ₹30,000, and it also comes with one garage space. Published On Aug 26, 2025…

Latest StoriesRera

Linking Property Registration with MahaRERA to Combat Fraud

Representative image created by AI PUNE: The state registration department is set to merge its property registration site with the MahaRERA portal to prevent fraudulent property transactions. This proposal will be discussed in an upcoming meeting with government agency representatives. Senior officials confirmed on Tuesday that this integration will allow sub-registrars to verify project RERA registration numbers in real-time prior to completing any transaction. “We have received approval for this process, which will be initiated following consultations. This move will verify project approvals and title statuses, ensuring that developers are RERA-registered before any property registration,” an official stated. Developer associations…

IndustryLatest Stories

Maharashtra’s Intra-District Property Registrations Top 60,000

PUNE: The state government’s initiative allowing citizens to register property at any sub-registrar office within their district has surpassed 60,000 registrations since its launch on May 1, officials reported on Tuesday. However, plans for inter-district registration are unlikely to materialize until next year. “There are technical and legal challenges that need to be resolved before implementing this statewide system. Stakeholders have expressed concerns, and significant changes are required in the software. Therefore, it won’t be possible to roll it out before next year,” said a senior official from the state registration department. A total of 60,694 documents have been processed…