Tag: Mumbai

Latest StoriesResidential

Ajit Agarkar Sells Mumbai Apartment for ₹4 Crore

NEW DELHI: Former Indian cricketer Ajit Agarkar has sold his residential property located in the Jewel Co-op Housing Society in Bandra West, Mumbai, for ₹4 crore. The property, which has a built-up area of 114.15 sq meters (1,229 sq ft), includes two car parking spaces. The sale was registered in April 2026. Property registration documents reviewed by Square Yards indicate that the transaction entailed a stamp duty payment of ₹24 lakh and registration fees of ₹30,000. Published On Jun 10, 2026 at 11:00 AM IST Join a community of over 2 million industry professionals. Subscribe to our newsletter for the…

Latest StoriesRegulatory

Bombay HC: Flat Buyers Get Monthly Interest Under RERA Delay

MUMBAI: On Monday, the Bombay High Court ruled that under the Real Estate (Regulation and Development) Act (Rera), buyers have an unequivocal right to receive interest monthly for possession delays. Justice Madhav Jamdar stated that the law aims to protect buyers from delays and ensure timely construction. Developers cannot postpone possession indefinitely while evading the consequences mandated by Rera. Therefore, buyers who remain invested in a project despite delays are entitled to interest for each month of delay until they receive possession. Ten buyers sought compensation due to a delay in a Mulund project booked between 2005 and 2007. An…

CommercialLatest Stories

Wadhwa Group Leases 33,000 sq ft Office in Mumbai for ₹44 Crore

NEW DELHI: The Wadhwa Group has leased approximately 33,000 square feet of office space to the global investment research firm Morningstar at its commercial project in Mumbai, totaling a rental agreement of Rs 44 crore over a nine-year period. Based in Mumbai, Wadhwa Group specializes in residential, commercial, and township projects, having completed over 220 projects across the Mumbai Metropolitan Region (MMR), featuring a total area of 45 million sq ft. Morningstar has also leased an additional 32,551 sq ft at Wadhwa Group’s Vishwaroop IT Park (VITP) project in Vashi, Mumbai. A spokesperson for the company opted not to comment.…

CommercialLatest Stories

Smartworks Leases 400+ Seats to Japanese NBFC in Mumbai

NEW DELHI: Smartworks Coworking Spaces has secured a lease for over 400 seats with a Japanese NBFC subsidiary in Mumbai. The five-year deal is projected to yield rental revenue of ₹35 crore. Neetish Sarda, the founder and managing director, stated, “Large teams necessitate a specific set of workplace needs – they require a space that operates seamlessly, maintains consistency across touchpoints, and is scalable as the organization expands.” Clients occupying 300 or more seats represent 69% of the company’s rental income, with an average tenure of 47 months for this group. Approximately 90% of the firm’s revenue is derived from…

Latest StoriesResidential

MHADA Begins Handover of 537 Flats in Naigaon BDD Project

NEW DELHI: The Maharashtra Housing and Area Development Authority (MHADA) has initiated the allotment and possession process for 537 rehabilitation flats within the Naigaon BDD Chawl redevelopment project in Mumbai. The flats are situated in towers 1, 2, and 3 of rehabilitation building number one. The allotment process is being executed at MHADA’s project office on the ground floor of tower five at Naigaon-Dadar. On the first day, MHADA’s Mumbai Housing and Area Development Board issued allotment letters to 15 eligible residents, and possession of the flats was granted to all 15 beneficiaries after completing the necessary documentation. Rehabilitation building…

IndustryLatest Stories

Andheri to Begin Mumbai’s First 100-Acre Slum Redevelopment

Representative Image MUMBAI: Three corporations are vying for Mumbai’s inaugural cluster Slum Rehabilitation Authority (SRA) project, covering 100 acres in Andheri (West). The Juhu Gulli SRA scheme encompasses 28,061 slum hutments, existing residential tenants, and owners, stretching from Juhu Galli (C D Barfiwala Road) to the rear of Hansraj Morarji Public School. Under this cluster initiative, slums can be integrated with dilapidated non-slum buildings, tenant-occupied structures, and vacant plots unsuitable for construction. For the first time, major corporations in real estate—Shapoorji Pallonji Real Estate, Reliance 4IR Realty Development Ltd, and JSW Realty & Infrastructure Pvt Ltd—are participating in an SRA…

CommercialLatest Stories

Maharashtra Govt buys Air India Mumbai building for ₹1,601 Cr

File Photo MUMBAI: On Tuesday, the Maharashtra government officially acquired the renowned Air India building, a standout feature of Mumbai’s skyline, for Rs 1,601 crore. The agreement transfer between Air India Assets Holding Company and the state Public Works Department (PWD) was finalized in the presence of Chief Minister Devendra Fadnavis, following a cabinet meeting at ‘Mantralaya’, the state secretariat. Attendees included Deputy Chief Minister Sunetra Pawar, Tourism Minister Shambhuraj Desai, Public Works Minister Shivendrasinhraje Bhosale, Chief Secretary Rajesh Agrawal, Additional Chief Secretary (PWD) Milind Mhaiskar, Mumbai City Collector Anchal Goyal, and Air India officials. Built in 1974, the iconic…

IndustryLatest Stories

Adani Properties Wins MHADA’s Worli, Bandra Redevelopment Bids

NEW DELHI: Adani Properties has secured the top bid for cluster redevelopment projects at Adarsh Nagar in Worli and Bandra Reclamation, as confirmed by the Maharashtra Housing and Area Development Authority (MHADA). For the Sardar Vallabhbhai Patel (S.V.P.) Nagar project located in Andheri West, the highest bid has come from a consortium including Hanura Realty, Chandak Realtors, Premsagar Infra Realty, and Vantier Realty. Notably, Hanura Realty is a subsidiary of JSW Steel. The financial bids were unveiled for appointing construction and development agencies for these three cluster redevelopment projects overseen by MHADA’s Mumbai Housing and Area Development Board. The committee…

Latest StoriesRegulatory

Property for daughter without gift deed isn’t unexplained: ITAT

MUMBAI: The Income Tax Appellate Tribunal (ITAT) Mumbai bench has ruled that not having a formal gift deed does not automatically classify a property purchase as an ‘unexplained investment’ if the funding sources are clearly identifiable. Under tax laws, unexplained income or assets incur a harsh punitive tax rate. The ITAT stated in its May 27 ruling that a property’s purchase by a father in his daughter’s name, motivated by familial love and affection, should not be deemed questionable simply due to the absence of formal documentation. The daughter, a homemaker in Mumbai without a personal income, came under scrutiny…

Latest StoriesRera

MahaRERA Dues Recovery Stalls Despite Efforts by Officers

PUNE: The Maharashtra government’s effort to expedite the recovery of dues for distressed homebuyers is facing significant challenges. Despite assigning dedicated revenue recovery officers in critical districts five months ago, collections have only marginally increased by Rs10 crore. According to data from the Maharashtra Real Estate Regulatory Authority (MahaRERA), total recoveries rose from Rs270 crore in December 2025 to roughly Rs280 crore now. This slow progress continues despite a state mandate urging faster enforcement of recovery warrants. Concerns over the slow pace of recovery are amplified by the scale of the defaults. Since its launch in May 2017, MahaRERA has…