Tag: Mumbai

Latest StoriesRegulatory

SC Supports SEIAA and SEAC’s Authority on Environmental Clearances

NEW DELHI: The Supreme Court (SC) has confirmed that the State Environment Impact Assessment Authority (SEIAA) and the State Expert Appraisal Committee (SEAC) will remain the primary authorities responsible for granting environmental clearances at the project level. This ruling addresses a long-standing regulatory standstill affecting over 493 real estate projects in the Mumbai Metropolitan Region (MMR) and Pune, which could impact more than 70,000 housing units, especially in the affordable and mid-income categories. The court’s decision is expected to clarify the environment clearance process, potentially revitalizing housing development in the area. The SC also invalidated sections of the notifications from…

IndustryLatest Stories

Ashiana Housing Allocates ₹425 Crore for FY26 Plans

NEW DELHI: Ashiana Housing is set to allocate ₹425 crore for senior living initiatives during FY26. This budget will cover landowner payouts, construction, execution costs, and other project expenses. A substantial part of this budget is targeted at expanding their senior living offerings, with plans to enter the Mumbai, Bengaluru, and Delhi-NCR markets. In FY25, the company invested ₹213 crore in senior living and recorded a booking value of ₹382 crore. “This year, we aim to launch five new phases in our existing senior living projects, which will encompass roughly 5.71 lakh sq ft of saleable area,” stated Ankur Gupta,…

IndustryLatest Stories

Keystone Realtors’ Q1 FY26 Net Profit Falls 36.34%

NEW DELHI: Keystone Realtors has reported a 36.34% decline in its net consolidated profit for the quarter ending June 30, 2025. The profit after tax for Q1 FY26 was ₹16.33 crore, compared to ₹25.65 crore in the same quarter of the previous fiscal year, according to a filing with BSE. The company’s net consolidated total income was ₹288.64 crore for Q1 FY26, reflecting a 33.98% decrease from ₹437.20 crore in the corresponding quarter last year. In Q1 FY26, Keystone Realtors achieved a 75% increase in pre-sales, totaling ₹1,068 crore, while collections amounted to ₹575 crore. The company launched three projects…

CommercialLatest Stories

India’s Office Market to Surpass 1 Billion Sq Ft: Report

NEW DELHI: A recent report by Knight Frank India indicates that India’s total office stock will exceed one billion square feet by Q3 2025. The report reveals that the cumulative office space in the top eight Indian cities was 993 million sq ft as of H1 2025. From less than 200 million sq ft in 2005, the office supply has experienced a compound annual growth rate (CAGR) of 8.6%, approaching one billion sq ft by 2025. Bengaluru currently leads with 229 million sq ft, representing 23% of India’s total office stock. It is followed by the National Capital Region (NCR)…

InfrastructureLatest Stories

Maharashtra CM Advocates Housing Near Metro Terminals

NAGPUR: Chief Minister Devendra Fadnavis, while reviewing 30 key infrastructure projects across the state on Monday, advocated for housing initiatives near Metro corridor terminals to optimize land use and improve last-mile connectivity in urban planning. “Housing colonies should be developed next to Metro endpoints to truly leverage our transport infrastructure,” Fadnavis stated during a meeting at the state secretariat. “We have both the technology and resources. These projects should be completed within three years,” he emphasized. The meeting, part of an ongoing series in the Chief Minister’s War Room, involved top bureaucrats and district-level officials via videoconference. This was the…

Latest StoriesResidential

Aamir Khan Rents Four Apartments in Mumbai’s Pali Hill

Bollywood superstar Aamir Khan has signed a rental contract for four luxury apartments across two floors in a residential tower located in Mumbai’s upscale Pali Hill neighborhood. The agreements amount to a monthly rent of ₹24.5 lakh, with a total security deposit of ₹1.47 crore. The leave-and-license contracts were registered on May 20, 2025, with a five-year tenure from May 15, 2025, to May 14, 2030, and a lock-in period of 45 months for both parties. Each agreement will see an annual rent increase of 5%. According to documents obtained via Zapkey.com, each of the two floors commands a rent…

IndustryLatest Stories

Godrej Properties to launch biggest bond issue yet: Sources

MUMBAI: Godrej Properties, the real estate arm of India’s Godrej Industries, plans to enter the corporate bond market later this month with its largest issuance to date, according to three sources familiar with the matter. The company is expected to raise approximately 20 billion rupees ($230 million) by selling short-duration bonds with a maturity between three to five years, the sources revealed last week. “The firm may seek to enter the market following the central bank’s monetary policy decision this week, anticipating further easing of yields,” one source mentioned. All sources spoke on the condition of anonymity due to the…

Latest StoriesRegulatory

FIRs Launched to Combat Illegal Sand Mining in Maharashtra

PUNE: The state government has instructed district collectors and police commissioners to register FIRs and take strict criminal action against individuals engaged in unauthorized excavation, transport, and use of sand or other minor minerals. On July 17, the revenue and forest departments issued a circular that empowers officials to prosecute offenders under various laws, including the Maharashtra Land Revenue Code of 1966, the Bharatiya Nyaya Sanhita (BNS) of 2023, the Environment Protection Act of 1986, the Mines and Minerals (Development and Regulation) Act of 1957, and the Prevention of Damage to Public Property Act. The circular also states that any…

Latest StoriesResidential

Angel One Founder’s Son Sells Mumbai Apartment for ₹52 Crore

Vinay Thakkar, part of the family of Dinesh Thakkar—the founder of Angel One, a well-known stockbroking and wealth management firm—has sold a high-end apartment in Andheri West, Mumbai, for Rs 52.48 crore. This 25th-floor apartment, boasting a RERA carpet area of 3,891 sq ft and an additional 409 sq ft of balcony space, is valued at an effective carpet area rate of Rs 1.4 lakh per sq ft. This positions it as one of the priciest residential transactions on a per sq ft basis. The sale, recorded on June 20, includes four exclusive car parking slots for the buyer, as…