Tag: Mumbai

IndustryLatest Stories

Minister: Rent Deals with Redevelopers Now Valid for Passports

MUMBAI: The Centre has prepared Standard Operating Procedures (SOPs) for police verification needed for passport applications. However, the Maharashtra government is addressing concerns raised by citizens whose residential buildings are undergoing redevelopment, according to a minister’s statement on Wednesday. During an assembly session, Minister of State for Home, Yogesh Kadam (Urban), emphasized that verifying addresses for passport applications is a national security issue. This process requires confirming the applicant’s identity along with any pending criminal cases. It is important to note that police verification for issuing passports occurs at the applicant’s registered address. The redevelopment of older buildings can cause…

Latest StoriesResidential

Salman Khan Sells Mumbai Apartment for ₹5.35 Crore

NEW DELHI: Salman Khan has sold an apartment in Shiv Asthan Heights, Bandra West, Mumbai, for ₹5.35 crore. The apartment features a built-up area of 1,318 sq ft (122.45 sq meters) and comes with three car parking spaces. The transaction incurred a stamp duty of ₹32.01 lakh and registration charges of ₹30,000, based on the Inspector General of Registration (IGR) documents reviewed by Square Yards. The deal was officially registered in July 2025. Published On Jul 16, 2025 at 03:59 PM IST Join a community of over 2M industry professionals. Subscribe to our newsletter for the latest insights & analysis…

IndustryLatest Stories

Maharashtra panel suggests 10% extra area for self-redevelopment

MUMBAI: A government-appointed committee has proposed a 10% increase in carpet area for residents of housing societies who choose the self-redevelopment scheme, aiming to encourage self-redevelopment. Self-redevelopment allows residents to manage the construction of their own buildings without a builder, retaining all construction benefits and profits that would normally go to developers. On Monday, BJP MLC Pravin Darekar submitted the committee’s report to Chief Minister Devendra Fadnavis at a function in Vidhan Bhavan. The recommendations will be passed on to the departments of housing, cooperatives, and urban development. “The proposal will be endorsed by the cabinet based on departmental suggestions.…

IndustryLatest Stories

Maharashtra: No tolerance for illegal constructions, warns deputy CM

MUMBAI: Deputy Chief Minister Eknath Shinde stated in the legislative assembly on Monday that the Maharashtra government will not endorse any illegal constructions and will impose strict penalties on officials found complicit in permitting such structures. Responding to a question from Parag Alavani (BJP) during the Question Hour, Shinde announced that instructions will be given to the Brihanmumbai Municipal Corporation (BMC) commissioner to compile a detailed inventory and categorization of illegal constructions in Mumbai. “Any officer found protecting illegal constructions will face strict action,” warned Shinde, who oversees urban development and housing. Members including Yogesh Sagar, Jitendra Awhad, Dilip Walse…

Latest StoriesResidential

Maharashtra Property Registrations Steady Amid RR Rate Hike

PUNE: Property registrations in Maharashtra have remained consistent, with an average of 3.7 lakh registrations monthly during the first quarter of this financial year, despite the ready reckoner (RR) rate increase implemented on April 1. Monthly revenue collections exceeded Rs 4,000 crore in both May and June. Officials attribute this stability to persistent demand, even with rising transaction costs due to adjusted property valuations. The RR rate hike, averaging 3.9% across various categories, raised concerns among developers and buyers about a potential decline in demand. However, the consistent registration figures indicate that the market has adapted well without notable disruptions.…

Latest StoriesRera

Maharashtra RERA Halts Details of Project in Abeyance

MUMBAI: Home buyers and advocates are facing challenges accessing information on projects currently suspended on the MahaRERA website. Upon attempting to retrieve project details, they encounter a message indicating the project is in abeyance and that associated bank accounts are frozen. Critical information including completion dates, occupancy certificates, approval status, and previous orders is unavailable to home buyers. Advocates argue that without public access to important documents like Form 4, project approvals, and historical MahaRERA or appellate orders, home buyers may struggle to seek legal remedies. Nonetheless, MahaRERA representatives stated that home buyers can request project information directly via email.…

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…

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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…