Tag: Mumbai

Latest StoriesResidential

MHADA to Redevelop Four Unsafe Buildings in Sion, Mumbai

NEW DELHI: The Maharashtra Housing and Area Development Authority (MHADA) has given the green light for the redevelopment of four unsafe transit buildings at Sion Pratikshanagar. Sanjeev Jaiswal, vice president and CEO of the authority, has announced that requests for rehabilitation within the same layout will be approved. Additionally, the proposal for middle-income group (MIG) sale buildings has been cancelled, benefiting 261 families and four shop owners from Transit Buildings No. 36, 37, 53, and 54. Plans call for the construction of two new buildings with stilt plus 22 floors, providing a total of 322 transit tenements. The project is…

Latest StoriesResidential

Angel Investor Radha Tanti Purchases ₹123-Crore Mumbai Flat

This is a representative image. Mumbai’s luxury residential market has seen another significant transaction, with Radha Tanti, an angel investor and spouse of Suzlon Energy executive vice chairman Girish Tanti, acquiring a high-end apartment in the prestigious Worli area for ₹123.5 crore. The property is located on the 44th habitable floor of the ultra-luxurious Artesia tower, situated near the Doordarshan Center in Worli. The apartment boasts a RERA carpet area of approximately 6,772.28 sq ft, along with an additional 367.05 sq ft of balcony or terrace space, making it one of the largest units in the development. This purchase was…

IndustryLatest Stories

Keystone Realtors Q3 FY26 Net Profit Falls 83.06%

NEW DELHI: Keystone Realtors has reported an 83.06% decline in net consolidated profit for the quarter ending December 31, 2025. The company recorded a profit after tax (PAT) of ₹5.08 crore, down from ₹29.98 crore during the same quarter last fiscal year, as per their BSE filing. The company’s net consolidated income for Q3 FY26 was ₹293.95 crore, a drop of 39.49% from ₹485.82 crore in the same quarter the previous year. Boman Irani, Chairman and Managing Director, stated, “Our pre-sales reached ₹837 crore in Q3 FY26 and ₹2,676 crore year-to-date (YTD) FY26, marking a strong 23% year-on-year growth. This…

Latest StoriesResidential

Mumbai: Meghwadi Chawl Residents Claim Coercion in Redevelopment

MUMBAI: Residents of the historic Meghwadi chawl in Dharavi are not just opposing a redevelopment plan but are also facing a systematic campaign of intimidation and harassment aimed at displacing families who have lived there for generations. The issue escalated after an urgent seven-day eviction notice was issued by the Slum Rehabilitation Authority (SRA) last December, with claims of local thugs, possibly politically motivated, pressuring residents to leave their homes. The nearly 150-year-old Meghwadi chawl, formerly known as Central Railway Patra chawl, contains around 80 hutments housing approximately 350 residents, including many seniors and children. Many of them have ancestral…

Latest StoriesRegulatory

SC asks Maharashtra govt, civic body to respond on slum rehab plea

File photo NEW DELHI: On Monday, the Supreme Court sought responses from the Maharashtra government and the Municipal Corporation of Greater Mumbai regarding a petition that challenges a Bombay High Court ruling allowing slum rehabilitation schemes on plots originally designated for parks, gardens, and playgrounds. On June 19, 2025, the Bombay High Court upheld the legitimacy of a regulation concerning slum rehabilitation schemes, seeking to balance Mumbai’s critical need for green spaces with the constitutional right to shelter. It endorsed Regulation 17(3)(D)(2) of the Development Control and Promotion Regulations (DCPR) 2034, which permits the execution of slum rehabilitation schemes on…

Latest StoriesResidential

MHADA to Sell 120 Mumbai Flats via First-Come-First-Served, Feb 5

Representative Image NEW DELHI: The Mumbai Housing and Area Development Board (MHADA) is set to offer 120 residential flats in various locations across Mumbai on a first-come-first-served basis, with online registrations starting on February 5, 2026, according to an official announcement. The flats, which were previously made available through MHADA lotteries but went unsold, are located in different housing colonies managed by the Mumbai Board. Applications will be accepted via MHADA’s official housing portal. Registrations will kick off on February 5 at 11 am, whereas online application submissions, payment of fees, and flat selection will commence from February 12, 2026,…

IndustryLatest Stories

Goldman Sachs, Morgan Stanley buy 4.9% in Sunteck for ₹268 crore

NEW DELHI: On Thursday, US-based firms Goldman Sachs and Morgan Stanley jointly acquired a 4.9% stake in Sunteck Realty from CLSA, a capital market company, for ₹268 crore through open market transactions. According to block deal data from the BSE, Goldman Sachs, via its arm Goldman Sachs Bank Europe SE, bought 36.52 lakh shares, equating to a 2.5% stake in Sunteck Realty. Moreover, Morgan Stanley, through its affiliate Morgan Stanley Asia (Singapore) Pte, purchased 35.09 lakh shares, which represents a 2.4% stake in the company. The shares were acquired at an average price of ₹375.1 each, bringing the total deal…

IndustryLatest Stories

Ajmera Realty’s Q3 FY26 Net Profit Drops 24.64%

NEW DELHI: Ajmera Realty & Infra India (ARIIL) has reported a 24.64% decline in its net consolidated profit for the quarter ending December 31, 2025. The profit after tax for Q3 FY26 was ₹25.54 crore compared to ₹33.89 crore in the same quarter of the previous fiscal year, as per the company’s BSE filing. The net consolidated total income for the company was ₹183.52 crore in Q3 FY26, reflecting a decrease of 7.83% from ₹199.12 crore during the same period last year. Dhaval Ajmera, Director of Corporate Affairs, stated, “We achieved a remarkable performance in the first nine months of…

IndustryLatest Stories

Maharashtra May Boost RR Rate in April Amid Rising Debt

PUNE: According to senior officials in the revenue department, purchasing a flat may become more expensive in the upcoming financial year. There is a suggestion of a potential increase in Ready Reckoner (RR) rates this April due to a growing revenue deficit and rising debt associated with welfare initiatives such as the Ladki Bahin Yojana. Discussions with stakeholders at the district level are currently ongoing, and a final decision will depend on the funding required for infrastructure projects, welfare programs, and recently introduced incentives. “Given the increasing revenue deficit and significant supplementary demands, a revision in RR rates appears to…

InfrastructureLatest Stories

Maharashtra Cabinet Approves Metro Linking Mumbai, Navi Mumbai Airports

MUMBAI: The Maharashtra Cabinet Infrastructure Committee has approved a 35-km Metro project aimed at linking the Mumbai and Navi Mumbai international airports with a budget exceeding Rs 22,000 crore. The corridor will feature 20 stations: 6 underground and 14 elevated. The land acquisition for the project will cover 30.7 hectares and is estimated to cost Rs 388 crore, as per a statement from the Chief Minister’s Office. The committee, a high-level ministerial group, has sanctioned the Metro Line 8 project, projected to cost Rs 22,862 crore. Chief Minister Devendra Fadnavis has instructed that all land acquisition and necessary approvals for…