Tag: Mumbai
Mumbai Housing Societies on Govt. Land Choose Self-Redevelopment
MUMBAI: An RTI inquiry has revealed that not a single housing society located on government land in Mumbai has chosen the path of self-redevelopment. There are approximately 3,000 cooperative housing societies in Mumbai and its suburbs situated on land leased by the government or collector’s land, categorized as occupancy class II. Salil Rameshchandra, president of the Federation of Grantees of Government Land (FGGL), who requested details about land conversion under the RTI Act, noted that the government introduced a concessional scheme last year that reduces the premium for freehold conversion. Under this 5% concessional scheme, housing societies can convert to…
Maharashtra CM Questions Rising Mumbai Housing Prices Despite Concessions
Devendra Fadnavis MUMBAI: Chief Minister Devendra Fadnavis expressed his concerns on Thursday regarding the rising prices of flats in Mumbai, despite various concessions offered to the real estate sector, including reduced premiums. At a meeting with CREDAI-MCHI, Fadnavis stated, “Over the past decade, we have made every effort to make housing more affordable based on your requests. However, despite these measures, housing prices have continued to climb. We believed that projects like the coastal road and Atal Setu would lead to lower prices, but instead, prices have soared.” While acknowledging that increasing housing prices can positively impact the economy, Fadnavis…
Mumbai Aims for 500K SRA Homes in 5 Years, Doubling Past Output
MUMBAI: The Slum Rehabilitation Authority (SRA) has launched a project implementation unit (PIU) in a bid to bring over 500,000 homes to slum dwellers within five years, surpassing the total number of homes built in the 29 years since its inception. Despite having delivered only 275,000 homes since its establishment in 1996, the SRA has recently implemented reforms, including drone and biometric surveys, which have expedited the delivery of 16,017 units within just 100 days. In the fiscal year 2024-25 alone, 16,673 units were completed, with a current target of 509,783 homes by 2030, and 334,000 units already under construction.…
MahaRERA to issue warrants in ₹90 crore Palais Royale case
MUMBAI: The MahaRERA adjudicating officer has issued four warrants aimed at recovering approximately ₹90 crore in interest from Honest Shelters Pvt Ltd, the current promoters of the Palais Royale project in Worli. The warrants pertain to four flats in the project, following an application from IIFL Finance Ltd regarding non-compliance with a January 16 directive. The officer also issued warrants for delayed possession concerning three additional flats associated with IIFL in the same development. The adjudicating officer, Ashok Alaspurkar, issued the orders on various dates, including August 4, July 28, and July 27, to recover different interest amounts related to…
Kriti Sanon Purchases Bandra Duplex Penthouse for ₹78.20 Crore
Bollywood star Kriti Sanon has acquired a luxury sea-facing duplex penthouse in Supreme Prana, located in the upscale Pali Hill area of Bandra, Mumbai, for over ₹78.20 crore. The apartment, spanning a carpet area of 6,636 sq. ft., occupies the 14th and 15th floors of the under-construction building. The transaction values the property at approximately ₹1.18 lakh per sq. ft., marking it as one of the priciest real estate deals in Mumbai’s suburbs. The actress has also settled ₹3.91 crore in stamp duty for this transaction, which was registered on Thursday. Inclusive of the Goods and Services Tax (GST) and…
Kalpataru Reports ₹49.42 Crore Net Loss in Q1 FY26
NEW DELHI: Realty company Kalpataru Ltd announced a consolidated net loss of Rs 49.42 crore for Q1 of the current fiscal year. In the same period last year, the net loss was Rs 0.69 crore. For the April-June quarter of 2025-26, total income decreased to Rs 456.78 crore from Rs 544.67 crore year-on-year, as per a regulatory filing. Kalpataru Ltd, which recently got listed on stock exchanges, is recognized as a prominent real estate developer in the nation. Published On Aug 14, 2025 at 08:43 AM IST Join a community of over 2 million industry professionals. Subscribe to our newsletter…
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,…
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…
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…