Tag: Mumbai

IndustryLatest Stories

Ajmera Realty Achieves ₹108 Crore Sales in Q1 FY26

NEW DELHI: Ajmera Realty & Infra India has reported first-quarter sales of ₹108 crore for FY26, with 63,244 sq ft sold. Although the performance remained stable, it faced challenges due to project launch delays caused by regulatory issues affecting the sector. The company experienced a 42% year-on-year increase in collections, reaching ₹234 crore in Q1 FY26, attributed to efficient execution and disciplined cash flow management. The Mumbai-based developer disclosed that key project launches were postponed because of delays in obtaining necessary permits, a challenge that has also impacted other industry players. Nevertheless, they are actively collaborating with authorities to address…

IndustryLatest Stories

Kolte-Patil Developers Reports ₹616 Crore Q1 FY26 Sales

NEW DELHI: Kolte-Patil Developers (KPDL) announced sales of ₹616 crore for Q1 FY26, driven by consistent performance in major projects and a slight growth in volumes. The company reported sales of 0.84 million sq ft in Q1 FY26, reflecting a 5% increase compared to the previous quarter. Customer collections totaled ₹550 crore this quarter, aligning with the scheduled payments. The average realization remained steady at ₹7,337 per sq ft, similar to last year’s performance. Atul Bohra, the group’s CEO, stated, “With strong launch plans ahead in Pune and Mumbai, we anticipate further growth. Our partnership with Blackstone enhances our strategic…

Latest StoriesRegulatory

Bombay HC Rejects PIL on Salt Pan Land for Dharavi Rehab

File Photo MUMBAI: On Thursday, the Bombay High Court dismissed a Public Interest Litigation (PIL) that contested the allocation of 250 acres of salt pan land for the rehabilitation of individuals affected by the Dharavi redevelopment project. Chief Justice Alok Aradhe and Justice Sandeep Marne stated, “It goes without saying that the state government must consider environmental issues while executing the project.” Advocate and activist Sagar Devre questioned the state’s decisions from August 7 and September 30 regarding the transfer of 255.6 acres of salt pan land in Mulund, Bhandup, and Vikhroli for housing projects for Dharavi’s affected individuals. He…

Latest StoriesRegulatory

FIR Filed Against Hiranandani Builders for Unauthorized Excavation

Represenational image MUMBAI: Powai police have filed a case against Hiranandani Builders & Developers for alleged unauthorized excavation in a hilly area, causing soil erosion near the helipad in Powai following a complaint from BMC. “Unauthorized soil excavation occurred over a 300m long, 4-5m wide, and 1-2m deep area near Hiranandani Helipad,” stated Sanjay Dudhbate, assistant engineer of the buildings and factories department, L ward. On July 7, a notice was issued to Hiranandani Builders regarding the unauthorized excavation, along with a copy affixed at the site. The case was registered under sections 52 (unauthorized development) and 43 (restrictions on…

IndustryLatest Stories

Puravankara Q1 FY26 Pre-sales Reach ₹1,124 Crore

NEW DELHI: Puravankara has announced pre-sales of ₹1,124 crore for Q1 FY26, marking a 6% year-over-year increase, despite no new project launches this quarter. This achievement is driven by a 9% increase in average price realization, now at ₹8,988 per sq ft, complemented by consistent sales across existing projects. Sales volume reached 1.25 million sq ft, with collections amounting to ₹857 crore. The company is enhancing its development pipeline, adding projects with a total projected gross development value (GDV) of ₹3,100 crore. This includes the redevelopment of eight housing societies in Chembur, Mumbai, covering four acres and offering over 1.2…

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Maharashtra CM to Seek Bombay HC Nod for Slum Rehab on Forest Land

File Photo MUMBAI: The state government is planning to petition the Bombay High Court for permission to undertake slum rehabilitation on portions of forest land currently occupied by slums. Chief Minister Devendra Fadnavis stated on Wednesday that any remaining land will be dedicated to forest regeneration. This statement came while he addressed queries concerning the implementation of postpaid smart meters for electricity consumption during a motion in the state legislative council. BJP’s Pravin Darekar highlighted that numerous slum households situated between Goregaon and Dahisar, as well as in Thane, occupy forest land, including private forest areas. He noted that these…

Latest StoriesRera

MahaRERA Initiates Statewide Verification of Developer OCs

Certainly! Here’s a rewritten version of the content you provided: PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has launched a statewide verification process for 2,600 Occupancy Certificates (OCs) submitted by developers through its official portal. These certificates are being sent to the relevant planning authorities for validation to prevent any potential discrepancies or forgeries, as reported by officials on Saturday. This initiative follows the repercussions of the Dombivli scam, where developers allegedly utilized falsified approvals to construct illegal buildings across numerous projects. This crackdown is a direct consequence of the 2022 Kalyan-Dombivli Municipal Corporation (KDMC) scandal, which involved 65…

Latest StoriesResidential

Maharashtra CM to Inaugurate BDD Flats in Worli on July 21

Representative image created by AI MUMBAI: Chief Minister Devendra Fadnavis is set to distribute keys for the first batch of BDD flats in Worli on July 21, shortly after the conclusion of the legislative session. Plans for a function have been made where the CM will hand over several keys. Milind Borikar, Chief Officer of the Mumbai Board at Mhada, stated that 556 flats, each with a carpet area of 500 sq ft, will be allocated in this initial phase. “By the end of the year, we anticipate receiving 3,989 flats across three sites,” Borikar added. While preparing to hand…

Latest StoriesRera

Only 30% of MahaRERA Recovery Warrants Executed; ₹527 Crore Pending

PUNE: The progress of MahaRERA in executing recovery warrants has been sluggish, with only 31% of cases resolved. Although the state government has instructed that these cases be handled within three months, officials informed TOI that merely Rs 233 crore has been recovered from the Rs 760 crore due in 1,212 cases across Maharashtra. This slow progress contradicts the revenue minister Chandrakant Bawankule’s promise during the state budget session, where he highlighted the need for faster execution of MahaRERA’s recovery warrant orders to clear the backlog within three months. The recovery warrants are issued under Section 40(1) of the Real…

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Mittal Builders, HoABL to invest ₹2,000 Cr in Mumbai project

NEW DELHI: Realty company Mittal Builders has partnered with House of Abhinandan Lodha to launch a housing project in the Mumbai Metropolitan Region with a total investment of ₹2,000 crore. On Thursday, Mittal Builders announced it has signed a Joint Development Agreement (JDA) with House of Abhinandan Lodha (HoABL) to co-develop an 11-acre project comprising 3 million sq ft, including over 4,600 apartments and high-street retail spaces. The project is anticipated to be unveiled in the second quarter of 2025-26. “The joint venture entails an investment of approximately ₹2,000 crore and a gross development value (GDV) of over ₹3,000 crore…