Tag: Mumbai

Latest StoriesRegulatory

Architects, Officials Colluded for Illegal Construction: ED

NEW DELHI: A significant cartel, comprising architects, chartered accountants, and officials of the Vasai Virar City Municipal Corporation in Maharashtra, has been implicated in extensive illegal construction on land designated for sewage treatment plants. According to the Enforcement Directorate (ED), these individuals sold this land fraudulently to the public. The federal agency confirmed that on July 1, they conducted searches at 16 sites related to a money laundering investigation concerning 41 illegal buildings in the Vasai Virar area. During these raids, the ED froze bank deposits and mutual funds valued at ₹12.71 crore and seized ₹26 lakh in cash, along…

Latest StoriesResidential

Maharashtra to Hike Rent for Tenants in Cessed Buildings

AI-generated Representative Image MUMBAI: The state government announced on Thursday an increase in monthly rent for tenants residing in dangerously dilapidated cessed buildings in Mumbai from Rs 20,000 to Rs 30,000 while alternative accommodations are provided during reconstruction. Additionally, the government will revoke the no objection certificate (NoC) of developers who have failed to initiate the redevelopment of these cessed buildings under Development Control Regulation 33(7). The assurances were made by the Minister of State for Urban Development, Pankaj Bhoyar, during the state assembly session. “The government will seek clarification from developers and will revoke notices for those who haven’t…

Latest StoriesRegulatory

Bombay HC questions BMC on buildings lacking fire NOC

Bombay High Court MUMBAI: The Bombay High Court has requested the BMC to clarify its plans regarding buildings in Mumbai lacking a fire no-objection certificate (NOC). The court posed a pointed question: “Will you ignore this issue, or will you take action? We expect a detailed affidavit stating the required steps when a fire NOC is not present. If this is omitted, we will interpret it as tacit approval, suggesting that it is the municipal corporation’s policy to allow occupancy without a fire NOC, thereby endangering lives,” remarked Justices Girish Kulkarni and Arif Doctor. This discussion arose during a hearing…

IndustryLatest Stories

Arkade Developers buys Filmistan for ₹183 crore

Sure! Here’s a rewritten version of the content: AI-generated Representative Image NEW DELHI: Arkade Developers, based in Mumbai, has finalized a binding agreement to acquire a 100% stake in Filmistan for ₹182.95 crore. This acquisition will allow the company to develop a four-acre residential project on the site of Filmistan Studios in Goregaon West. Amit Jain, the company’s Chairman and Managing Director, stated, “We are focused on expanding our presence in the western suburbs, with several launches scheduled for early 2026.” The upcoming luxury project, set to launch in 2026, is projected to generate a gross development value (GDV) of…

Latest StoriesResidential

Aatish Kapadia and Wife Purchase ₹15.31 Crore Mumbai Apartment

NEW DELHI: Aatish Kapadia, recognized as an actor, director, and screenwriter, along with his wife Alison Kapadia, has acquired an apartment at Elysian by Oberoi Realty in Goregaon, Mumbai, for ₹15.31 crore. The apartment features a carpet area of 281.50 sq meters (3,030.07 sq ft) and includes three car parking spaces. According to the Inspector General of Registration (IGR) documents reviewed by Square Yards, the transaction incurred a stamp duty of ₹91.86 lakh and registration fees of ₹30,000. The deal was officially registered in June 2025. As per Square Yards Data Intelligence, Elysian has seen 116 sale registrations totaling ₹1,035…

CommercialLatest Stories

Top 7 Cities’ Office Leasing Up 40% in H1 2025: Anarock

NEW DELHI: The commercial real estate sector in India showed a strong recovery in the first half of 2025, with net office leasing in the seven largest cities rising by 40% year-on-year to around 26.8 million sq ft, according to Anarock Research. This compares to 19.08 million sq ft in the same period last year. Bengaluru was the standout performer, achieving 6.55 million sq ft of net absorption, a 64% increase from 4 million sq ft in H1 2024. Pune reported the highest year-on-year growth rate in leasing, soaring by 188% to 3.8 million sq ft, up from 1.32 million…

Housing FinanceLatest Stories

LIC Housing Finance names Lokesh Mundhra as CFO

Representative image NEW DELHI: LIC Housing Finance has appointed Lokesh Mundhra as the new Chief Financial Officer (CFO) effective Thursday. According to a regulatory filing, Sudipto Sil, who previously served as CFO, will now be the Marketing Head of the Western Region in Mumbai beginning April 17, 2025. “The Board of Directors has approved the appointment of Lokesh Mundhra as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company effective April 17, 2025,” LIC Housing Finance stated. Mundhra, a Chartered Accountant, brings 32 years of experience from various roles at LIC of India, covering departments such…

Latest StoriesResidential

Randeep Hooda Purchases ₹5.63 Crore Apartment in Mumbai

NEW DELHI: Randeep Hooda has acquired an apartment in Bianca C.H.S., Versova, Mumbai, for ₹5.63 crore. The apartment spans a built-up area of 142.19 sq meters (1,530 sq ft). The transaction was registered in June 2025, with a stamp duty of ₹33.78 lakh and registration fees of ₹30,000, as per the Inspector General of Registration (IGR) documents reviewed by Square Yards. Published On Jun 27, 2025 at 12:03 PM IST Join our community of 2M+ industry professionals. Subscribe to our newsletter for the latest insights & analysis delivered to your inbox. Stay updated on the ETRealty industry directly on your…

IndustryLatest Stories

Raymond Realty to List on Exchanges, Forecasts Over 20% Growth

File Photo NEW DELHI: Raymond Realty (RRL), the real estate division of Raymond Group, is set to debut on Indian stock exchanges after its demerger from Raymond. The goal of this listing is to enhance shareholder value by forming a focused, debt-free real estate entity. Harmohan Sahni, MD & CEO of the company, stated, “Our net debt-free balance sheet, ownership of 100 acres of land, and a capital-efficient joint development model position us for sustainable annual growth of over 20% and an industry-leading ROCE exceeding 20%.” RRL operates under three residential brands: TenX, The Address by GS, and Invictus. The…