Tag: Mumbai

Latest StoriesRera

MahaRERA Lists 1,244 ‘Under Abeyance’ Projects in Pune

Representative image created by AI PUNE: The Pune district is facing a significant issue with 1,244 real estate projects currently under ‘abeyance’ as designated by MahaRERA, disallowing any new bookings or sales. This status indicates that these projects have either not received completion certificates or have failed to secure deadline extensions, leaving many buyers with their investments in limbo. One impacted buyer, an IT professional after 11 years, has yet to take possession of his apartment in a project located at the Sinhagad foothills. Despite several favorable orders from MahaRERA, the project remains incomplete, and a refund has not been…

IndustryLatest Stories

Arvind SmartSpaces Q1 FY26 Net Profit at ₹11.96 Crore

NEW DELHI: Arvind SmartSpaces has announced a significant growth of 159.44% in its net consolidated profit for the quarter ending June 30, 2025. The company’s profit after tax for Q1 FY26 reached ₹11.96 crore, a substantial increase from ₹4.61 crore in the same quarter the previous year, as reported in a BSE filing. The net consolidated total income for the company was ₹106.39 crore in Q1 FY26, reflecting a growth of 37.79% compared to ₹77.21 crore in the corresponding quarter last year. Kamal Singal, Managing Director of Arvind SmartSpaces, stated, “In Q1, revenue rose 37% year-on-year to ₹102 crore, adjusted…

Latest StoriesResidential

Akshay Kumar Sells Mumbai Properties for ₹7.1 Crore

NEW DELHI: Akshay Kumar has sold two adjacent residential properties in Sky City, developed by Oberoi Realty, for a combined total of ₹7.10 crore in Borivali East, Mumbai. Both sales were recorded in June 2025. As per documents from the Inspector General of Registration (IGR) examined by Square Yards, the first property is valued at ₹5.75 crore and features a carpet area of 1,101 sq ft (102 sq meters) along with two car parking spaces. The transaction included a stamp duty of ₹34.50 lakh and registration fees of ₹30,000. Akshay Kumar originally acquired this property in 2017 for ₹3.02 crore,…

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Lodha Developers’ Q1 FY26 Net Profit Soars 41.86%

NEW DELHI: Lodha Developers, previously known as Macrotech Developers, has reported a significant increase of 41.86% in its net consolidated profit for the quarter ending June 30, 2025. The profit after tax reached ₹675.10 crore in Q1 FY26, compared to ₹475.90 crore during the same period last year, as stated in a BSE filing. In Q1 FY26, the company’s net consolidated total income also rose to ₹3,624.70 crore, marking a growth of 24.21% from ₹2,918.30 crore in the corresponding quarter of the previous fiscal year. Abhishek Lodha, the MD & CEO, remarked, “Q1 FY26 has showcased our best-ever first quarter…

Latest StoriesRegulatory

Bombay HC Rejects Plea, Motilal Redevelopment Progresses

MUMBAI: The Bombay High Court has dismissed a review petition, allowing the redevelopment of 141 acres of MHADA land in Goregaon West, known as Motilal Nagar. MHADA has appointed Adani Realty as the consultant and Development Agency (CDA) for the project, which is expected to be the largest housing initiative in the city. Motilal Nagar Vikas Samiti, a resident group, filed the review petition to contest the court’s initial ruling from March 6, 2025, by Chief Justice Alok Aradhe and Justice Bharati Dangre. They sought an interim stay to prevent MHADA and the awarded developer from proceeding with the project.…

Latest StoriesRegulatory

Bombay HC Halts Slum Rehab on Mumbai University Land

MUMBAI: The Bombay High Court has placed a stay on a Slum Rehabilitation Authority (SRA) scheme concerning over 3.5 acres of land claimed by Bombay University. This land was acquired for academic use by the Mumbai Collector between 1967 and 1974. Despite the acquisition, the land was not registered under the university’s name, and third-party rights were established in favor of a developer due to outdated revenue records, as stated in a petition by Mumbai University (MU). The university pointed out that by 2024, the land had been designated as a slum because of encroachment, without any notice given to…

Latest StoriesRera

Bombay HC Orders Maharashtra RERA to Reinstate Hybrid Hearings

MUMBAI: The Bombay High Court has ordered the Maharashtra Real Estate Regulatory Authority (MahaRera) to reinstate hybrid hearings within four weeks. This will allow parties to choose between physical or virtual appearances. “Access to justice includes the right to appear in person, not just virtual access,” stated Justices Revati Mohite Dere and Neela Gokhale. A petition filed by Mayur Desai requested the court to expedite the resolution of execution and non-compliance cases pending since March 2024 and to reinstate hybrid hearings, a practice in place before the Covid-19 pandemic. MahaRera’s attorney mentioned that parties wishing to attend in person could…

Latest StoriesResidential

DLF-Trident’s ‘The Westpark’ nets ₹2,300 crore in phase 1

MUMBAI: DLF, through its subsidiary DLF Home Developers, has entered the Mumbai residential market with the launch of The Westpark in Andheri West. The company, in collaboration with Trident Realty, achieved sales exceeding ₹2,300 crore from the complete sellout of 416 units in phase-1. The launch includes four 37-storey towers on a 5.18-acre site, with all units sold within a week. This phase is part of a larger ~10-acre master plan encompassing eight residential towers. The initial phase features 3 and 4 BHK apartments ranging from 1,125 to 2,500 sq ft (carpet area), along with a limited selection of penthouses.…

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Ajmera Realty Q1 FY26 Net Profit Rises 21.79%

NEW DELHI: Ajmera Realty & Infra India (ARIIL) has announced a 21.79% increase in its consolidated net profit for the quarter ending June 30, 2025. The profit after tax (PAT) reached ₹38.28 crore in Q1 FY26, compared to ₹31.43 crore recorded in the same quarter last year, as per a filing to the BSE. The company’s net consolidated income for Q1 FY26 amounted to ₹259.62 crore, reflecting a 32.36% growth from ₹196.15 crore during the same period last year. Dhaval Ajmera, Director of Corporate Affairs at the company, stated, “We have significantly enhanced our execution capabilities, leading to a remarkable…

IndustryLatest Stories

Mumbai’s Heritage Group Fights Back Against Iconic Buildings Policy

MUMBAI: Nearly a month after the BMC sought feedback on a proposed amendment to the Development Control and Promotion Regulation (DCPR) 2034, aimed at establishing a new policy for ‘Iconic Buildings’ under Regulation 33(27), the Fort Heritage Conservation Association has expressed concern over the ambiguous definition of what constitutes iconic buildings. The proposed policy describes ‘Iconic Buildings or Spaces’ as structures distinguished by unique features such as size, shape, aesthetics, design concept, urban design, or structural characteristics. “What is deemed iconic by some may not be universally recognized. The term ‘iconic’ is defined in unclear and subjective ways, making it…