Tag: Mumbai

Latest StoriesRegulatory

Mumbai Builder Arrested for Illegally Selling SRA Flats

MUMBAI: The Economic Offences Wing (EOW) of the city police has apprehended builder Sohail Abdullah Dukka for unlawfully selling flats within a slum redevelopment initiative in Jogeshwari. The case emerged from a complaint by Mohammad Momin, who accused Dukka of misappropriating substantial funds while being a partner in Unique Developers, the company tasked with the “One Jogeshwari” Slum Rehabilitation Authority (SRA) project at Behram Baug, Jogeshwari West. Dukka is currently in custody for another case registered at the MIDC police station. He faces allegations of selling approximately 10 flats independently in the project between 2023 and December 2025 at rates…

Latest StoriesResidential

Godrej family purchases 2 Worli apartments for ₹294 crore

Tanya Dubash, a scion of the Godrej family and executive director at Godrej Industries Group, has acquired two luxury sea-facing apartments in a premium residential tower currently under construction at Mumbai’s Worli Sea Face for over ₹294 crore, according to property registration documents obtained by RealtyDailyNews. The apartments have been valued at more than ₹2.5 lakh per square foot, placing them among the highest-priced residential properties in the nation based on this rate. The two units, located on the 19th and 20th floors of the ultra-luxury tower Naman Xana, each boast a carpet area of approximately 5,812 sq ft, complemented…

Latest StoriesRegulatory

NCLT Accepts Insolvency Plea for Supreme Housing & Hospitality

MUMBAI: The National Company Law Tribunal (NCLT) has accepted Canara Bank’s insolvency petition against Supreme Housing and Hospitality Private Limited, a Mumbai-based real estate firm, over outstanding dues exceeding ₹567 crore. This move follows several unsuccessful attempts at a one-time settlement and extended litigation. The Mumbai bench of the tribunal commenced the corporate insolvency resolution process (CIRP) against Supreme Housing on May 13 under Section 7 of the Insolvency and Bankruptcy Code (IBC). Canara Bank indicated a default amounting to ₹567.43 crore as of October 31, 2025, which includes a principal amount of ₹175.83 crore and interest dues of ₹391.60…

InfrastructureLatest Stories

MMRDA Gets Three Bids for Mumbai Metro 14 DPR

Representative image MUMBAI: The Mumbai Metropolitan Region Development Authority (MMRDA) has received bids from three firms to appoint a consultant for revising the Detailed Project Report (DPR) of the proposed Metro Line 14, which will connect Kanjurmarg and Badlapur. The authority is currently reworking the execution and financing model for this significant suburban corridor. Bids for the consultancy contract were opened on May 11. The firms that participated in the bidding process are SMEC, Tata Consulting Engineers, and RITES. The evaluation of these bids is ongoing. This initiative follows MMRDA’s unsuccessful attempt to attract private developers for the 38-km metro…

IndustryLatest Stories

NSE Signs 80-Year Lease for 2.7 Acres in BKC at ₹1,684 Crore

MUMBAI: The National Stock Exchange of India (NSE) has secured a prestigious land parcel in Mumbai’s Bandra-Kurla Complex (BKC) through a long-term lease of 80 years from the Mumbai Metropolitan Region Development Authority (MMRDA), amounting to Rs 1,684 crore. This transaction encompasses the combined plots C-81 and C-82, situated in G Block of BKC, a prominent and costly commercial hub in India. The total area of the land parcel is approximately 2.7 acres, allowing a maximum permissible built-up area of 4.7 lakh sq ft. In March 2025, RealtyDailyNews initially reported that the stock exchange intends to transform its iconic headquarters…

IndustryLatest Stories

Sri Lotus Developers’ Profit Up 6.77% to ₹243.30 Crore FY26

NEW DELHI: Sri Lotus Developers & Realty, based in Mumbai, has announced a 6.77% increase in its net consolidated profit for the financial year 2025-26. The company reported a profit after tax of ₹243.30 crore, up from ₹227.88 crore in FY25, according to a BSE filing. The net consolidated total income for FY26 reached ₹818.71 crore, reflecting a growth of 43.82% from ₹569.27 crore in FY25. In Q4 FY26, the firm experienced a 62.53% increase in total income, totaling ₹322.03 crore compared to ₹198.13 crore during the same quarter last year. Profit after tax for Q4 FY26 rose by 17.50%…

IndustryLatest Stories

Keystone Realtors’ FY26 Profit Falls 49.5% to ₹94.95 Crore

NEW DELHI: Keystone Realtors has announced a 30.81% increase in its net consolidated profit for the financial year 2025-26. The profit after tax reached ₹94.95 crore for FY26, compared to ₹188.13 crore in FY25, as stated in their BSE filing. The company’s net consolidated total income for FY26 was ₹2,716.85 crore, marking a 28.07% rise from ₹2,121.44 crore in FY25. In Q4 FY26, the net consolidated total income surged by 151.22% to ₹1,613.36 crore, up from ₹642.20 crore in the same quarter last year. However, the profit after tax saw a 4.93% decline, settling at ₹63.65 crore compared to ₹66.95…

IndustryLatest Stories

SRA Cancels 181 of 228 Mumbai Joint Venture Projects

MUMBAI: Nearly two years after the government instructed various state-run corporations to carry out slum redevelopment at 228 locations in collaboration with the Slum Rehabilitation Authority (SRA), 181 projects have been abandoned due to minimal progress and feasibility issues. Of the 77 proposed joint ventures, the Brihanmumbai Municipal Corporation (BMC) will now proceed with only 44, while the Maharashtra Housing and Area Development Authority (Mhada) will complete 2 of its 24, and the Mumbai Metropolitan Region Development Authority (MMRDA) will implement just 1 of its 5. The SRA will take over these projects under its cluster redevelopment scheme or through…

IndustryLatest Stories

Maharashtra Plans Property Cards with Valuation for All Plots

Representative AI image PUNE: The Maharashtra state government is drafting a Land Titling Act that will mandate property cards for all land parcels, as stated by Revenue Minister Chandrashekhar Bawankule in Pune on Sunday. This card will not only include essential details but will also indicate the property’s value. A property card, or malmatta patrak, serves as the official land record document issued by the city survey department for urban areas. Currently, it is the primary legal proof of ownership for urban properties, encompassing all details about the owner, property size, location, and transaction history. For rural areas, a 7/12…

Latest StoriesRegulatory

Bombay HC Rejects Tenants’ Request to Add Builder in Petition

MUMBAI: The Bombay High Court has rejected a request from 52 tenants of a demolished building in Ghatkopar (W) to include a new developer in their redevelopment petition, imposing a cost of Rs 5 lakh on them. In their ruling on Wednesday, Justices Ajey Gadkari and Kamal Khata observed, “It prima facie appears that the current application is moved and financed by the proposed respondent (developer) to establish an unenforceable right against the landlords and original developer.” In February 2024, the tenants had urged the HC to speed up the redevelopment of Kamla Bhuvan, a dilapidated structure on LBS Marg,…