Tag: Mumbai

Latest StoriesResidential

Mumbai: JVPD Bungalows Yield to Buildings as Families Expand

MUMBAI: In the early 1970s, Bollywood icons like Amitabh Bachchan, Dharmendra, Shatrughan Sinha, Rakesh Roshan, and Jeetendra found refuge in the serene Juhu-Vile Parle Development Scheme (JVPD) for its privacy and abundant green spaces. Spanning 200 acres, JVPD consists of 42 acres designated for internal roads, featuring 702 plots and 14 cooperative societies. Originally planned in the 1950s as a middle-class neighborhood with modest two- to three-story buildings, the area is now experiencing a redevelopment boom, with property prices soaring to Rs 70,000 to Rs 80,000 per square foot in luxury towers. Anand Pandit, a renowned builder and Bollywood producer,…

Latest StoriesResidential

Mumbai BMC housing lottery attracts 2,037 for 426 homes

MUMBAI: The BMC’s online lottery for 426 homes across the city received only 2,037 applications, indicating a tepid response. The highest interest was seen for the 14 homes in Marol, which garnered 937 applications. This was followed by 393 applications for 46 homes in Kandivali and 189 for 19 homes in Goregaon. The flats, ranging from Rs 55 lakh to Rs 1 crore, are situated in Kandivali, Bhandup, Byculla, Kanjurmarg, Jogeshwari, and Goregaon, targeted at applicants from the Economically Weaker Section (EWS) and Low-Income Group (LIG) categories, with an expected revenue of around Rs 308 crore from sales. In comparison,…

Latest StoriesRegulatory

Bombay HC Postpones Builder’s Bail Hearing to November 27

MUMBAI: The Bombay High Court has postponed the hearing for pre-arrest bail filed by builder Bhavesh Sanghrajka to November 27. This plea is related to an FIR alleging culpable homicide not amounting to murder, following the death of a 22-year-old woman caused by a cement block that fell from his construction site in Jogeshwari. The prosecutor informed the court that no action will be taken until the next hearing. Justice N R Borkar remarked that additional public prosecutor BV Holambe-Patil is requesting more time to present a report from an expert regarding the safety measures taken at the site. Sanghrajka,…

IndustryLatest Stories

Four of 16 Developers Selected for South Mumbai Rail Plot

Representative AI image The Railway Land Development Authority (RLDA) has narrowed down its selection to four developers from a pool of 16 interested parties bidding for the development of a prime 2.5-acre site in Mahalaxmi, South Mumbai. This project is estimated to hold a revenue potential nearing Rs 10,000 crore, according to sources familiar with the matter. This tender saw significant participation from top developers, signaling a competitive bidding process for this government-owned parcel. The electronic bidding occurred on Tuesday. From what we gather from The Economic Times, the shortlisted developers include Lodha Group, Sobha Ltd, Dineshchandra R Agrawal Infracon,…

IndustryLatest Stories

Maharashtra Panel Approves Kamathipura Redevelopment Bid

Representative Image MUMBAI: The High Powered Committee of the state government has approved the Kamathipura Redevelopment Project. Mhada, acting as the nodal agency, has invited bids for this redevelopment under the Construction and Development Agency model. According to a Mhada survey, there are 800 old and dilapidated buildings in Kamathipura across 34 acres. Many of these structures are over a century old and beyond repair. Most of the properties, which are privately owned, are only 50 sq meters in size, making it financially unfeasible for landlords to initiate redevelopment. Consequently, the state has tasked Mhada’s Repair and Reconstruction Board with…

IndustryLatest Stories

Hubtown’s Q2 FY26 Profit Surges to ₹32 Crore

NEW DELHI: Hubtown Ltd, a real estate company, reported a 65% increase in consolidated net profit for the September quarter, reaching Rs 31.67 crore, driven by higher income. The net profit in the same period last year was Rs 19.20 crore. According to a regulatory filing from the Mumbai-based firm, total income increased to Rs 263.29 crore in the second quarter of this fiscal year, compared to Rs 139.31 crore in the corresponding quarter of the previous year. “We observed significant progress in our ultra-luxury and premium residential projects,” stated Vyomesh Shah, Managing Director and Co-Founder of Hubtown Ltd. Shah…

CommercialLatest Stories

91Springboard Leases 100K Sq Ft Workspaces in Mumbai & Gurugram

NEW DELHI: 91Springboard, a workspace solutions provider, has launched two new centers in Mumbai and Gurugram. Together, the two hubs cover approximately 100,000 sq ft and are expected to be operational by the next quarter. The Mumbai center, located at Hiranandani Business Park, LightHall in Andheri East, spans 40,000 sq ft, while the Gurugram center at DLF World Trade Park covers 60,000 sq ft. To date, the company has added half a million sq ft of space in 2025 and aims to reach an additional million by the end of this fiscal year. Currently, it manages over 1.64 million sq…

Latest StoriesRegulatory

ED probes 14 sites linked to ex-Lodha Developers director

MUMBAI: The Enforcement Directorate (ED) has conducted searches at 14 locations in Mumbai and nearby areas associated with Rajendra Lodha, the former director of Lodha Developers (now Macrotech Developers), and his associates as part of a money laundering investigation. Rajendra is accused of defrauding the Lodha Group, established by minister and BJP leader Mangal Prabhat Lodha, by illegally selling apartments in a New Cuffe Parade project. The city crime branch had previously arrested him, leading to the ED’s case based on that FIR. One of the locations searched belonged to Vinod Patil, the brother of a former MNS MLA. Neighbors,…

IndustryLatest Stories

Keystone Realtors’ Q2 FY26 Net Profit Drops 84.91%

NEW DELHI: Keystone Realtors reported an 84.91% decline in its net consolidated profit for the quarter ending September 30, 2025. The company’s profit post-tax was ₹9.89 crore for Q2 FY26, compared to ₹65.55 crore in the same quarter of the previous fiscal year, according to a BSE filing. The net consolidated total income for Q2 FY26 was ₹520.92 crore, down 6.35% from ₹556.22 crore reported in the same quarter last year. Boman Irani, Chairman and Managing Director, stated, “Our pre-sales reached ₹772 crore in Q2 FY26, representing a 10% year-on-year growth on a quarterly basis, and ₹1,839 crore for H1…

Latest StoriesRegulatory

Bombay HC Cancels NOC for Filmmaker to Merge Flats in Oshiwara

MUMBAI: The Bombay High Court has annulled an order from the deputy registrar of cooperative societies for the K-West ward, which had instructed a housing society in Oshiwara, Andheri West, to approve film producer and director Vipul Shah’s request to merge four flats across two floors. Justice Amit Borkar stated on Monday that the decision exceeded the authority outlined in the Maharashtra Co-operative Societies Act, 1960, asserting that such power cannot be exercised. The Oberoi Springs CHSL contested the deputy registrar’s ruling under sub-clause 3 of Section 154B-27, which pertains to the society’s obligation to act and the registrar’s enforcement…