Tag: Navi Mumbai

IndustryLatest Stories

RMZ Plans $30 Billion Investment in Mumbai Region Over 10 Years

NEW DELHI: RMZ has announced an investment collaboration with the Mumbai Metropolitan Region Development Authority (MMRDA) and the City & Industrial Development Corporation of Maharashtra (CIDCO) at the World Economic Forum (WEF) in Davos. The company aims to mobilize investments totaling up to USD 30 billion in the Mumbai Metropolitan Region (MMR) over the next decade, potentially creating around three lakh direct and indirect jobs throughout the project lifecycle. RMZ will lead the investment structuring and capital mobilization efforts, along with master planning, development, and long-term asset management. MMRDA will assist in land identification and aggregation. Additionally, the company plans…

IndustryLatest Stories

ASK Property Fund Invests ₹210 Cr in Gami Group’s Navi Mumbai Projects

NEW DELHI: ASK Property Fund, part of ASK Asset & Wealth Management Group, has invested ₹210 crore in Gami Group’s developments in CBD Belapur and Ghansoli, Navi Mumbai. Bhavin Jain, CIO of ASK Property Fund, commented, “This investment marks ASK’s initial entry into the Navi Mumbai market, which has seen substantial momentum due to significant infrastructure enhancements.” The project located in CBD Belapur covers two acres and will feature 2-BHK and 3-BHK units. Recently, the company invested ₹340 crore in three residential projects from Mantra Group, located in JVLR, Mumbai, and two sites in Pune—Wakad and Mundhwa. Published On Jan…

InfrastructureLatest Stories

Navi Mumbai: 19 Construction Sites Halted for Pollution Violations

THANE: The Navi Mumbai Municipal Corporation (NMMC) has ordered 19 construction sites to halt operations and issued penalty notices to 173 developers for purportedly breaching pollution control regulations, officials report. As per the civic body’s announcement on Wednesday, NMMC has implemented “GRAP-4 measures,” resulting in the suspension of construction activities at 19 sites where the Air Quality Index surpassed 200. For enforcement, teams consisting of civil engineers, sanitation officers, and town planning officials have been formed. In addition to the stop-work mandates, 10 show-cause notices and penalty notices have been dispatched to 173 developers. Published On Jan 8, 2026 at…

CommercialLatest Stories

Wipro Leases 145,000 Sq Ft Office in Navi Mumbai’s Mindspace

Representative Image Information technology services leader Wipro has secured a significant office space of 1.45 lakh sq ft at an IT park in Navi Mumbai via a long-term lease. This move highlights the ongoing demand for efficient Grade A offices in suburban business districts. The space is leased at Mindspace Airoli East from Mindspace Business Parks, with a lease agreement registered on December 29 for a total duration of 60 months. The agreement sets a starting monthly rent of approximately Rs 97.25 lakh, equating to around Rs 67 per sq ft. A security deposit of around Rs 5.83 crore was…

Latest StoriesRegulatory

Navi Mumbai: NMMC Alerts CIDCO on Pollution Violations

Representative AI image THANE: The Navi Mumbai Municipal Corporation (NMMC) has sent notices to the City and Industrial Development Corporation (CIDCO) for alleged breaches of pollution control regulations at two housing project sites managed by CIDCO. A statement from the civic body mentions that notices are related to a housing project near Juinagar Railway Station in Sector 11, Sanpada, and another site in Vashi’s Sector 19. NMMC has instructed CIDCO to implement all necessary pollution control measures, as per the Standard Operating Procedures (SOP), and to submit a comprehensive report on the corrective actions taken to the town planning department.…

InfrastructureLatest Stories

Navi Mumbai Airport Launches Commercial Flight Operations

The Navi Mumbai International Airport will handle 15 scheduled departures on its opening day MUMBAI: After nearly 30 years since the ambitious project was initiated to alleviate congestion at Mumbai’s current airport, the Navi Mumbai International Airport was officially inaugurated on Thursday. An IndiGo Airbus A320 arriving from Bengaluru touched down at 8 am, greeted with a ceremonial water cannon salute. Commercial flight operations mark a significant expansion of Mumbai’s aviation capabilities and a pivotal milestone in India’s infrastructure development. Now operational, Mumbai joins major global aviation hubs such as London, New York, Moscow, Tokyo, and Shanghai, each served by…

InfrastructureLatest Stories

Navi Mumbai Airport to Open on December 25

THANE: After years of planning, the Navi Mumbai International Airport (NMIA) is ready to begin commercial operations on Thursday, promising to reduce travel times, enhance tourism, and draw significant investments to the area. The City and Industrial Development Corporation (CIDCO), the agency responsible for this ambitious aviation project, announced on Tuesday that the airport will manage 30 Air Traffic Movements (arrivals and departures) on its opening day. The launch is expected to ease congestion at the existing Mumbai international airport, contributing to a more efficient multi-airport network in the region. “The opening of the Navi Mumbai International Airport reflects the…

Latest StoriesResidential

Cidco Unveils 4,508 Tenements in Navi Mumbai—First Come, First Serve!

Representative AI image NAVI MUMBAI: On Friday, the City and Industrial Development Corporation (Cidco) announced a new housing scheme offering 4,508 ready-to-move-in flats across the Taloja, Dronagiri, Ghansoli, Kharghar, and Kalamboli nodes in Navi Mumbai, available on a first-come, first-served basis. Online registration begins on Saturday, November 22, at 4 PM. Those who successfully register by December 21 can choose their preferred tenement starting December 28. Of the available flats, 1,115 are designated for the Economically Weaker Section (EWS) under the Prime Minister Awas Yojna (PMAY), while 3,393 are for the Low Income Group (LIG). A subsidy of ₹2.5 lakh…

Latest StoriesRegulatory

Raigad Collector Given 7 Days to Probe PMAY Project Violations

NAVI MUMBAI: The Maharashtra Coastal Zone Management Authority (MCZMA) has given a seven-day ultimatum to the Raigad district collector to investigate potential environmental infractions at the Pradhan Mantri Awas Yojana (PMAY) multi-tower project in Kharghar. This directive follows a year of inaction on a previous order. This requirement was initiated by a follow-up from the Union environment ministry and mandates the collector, who also leads the district coastal zone management committee (DCZMC), to assess compliance with necessary mangrove buffers and Coastal Regulation Zone (CRZ) standards. A letter from Vishal Madane, under secretary in the state environment department, has mandated a…

IndustryLatest Stories

Marathon Nextgen Realty Q2 FY26 Net Profit Grows 34.54%

NEW DELHI: Marathon Nextgen Realty (MNRL) has announced a 34.54% increase in its net consolidated profit for the quarter ending September 30, 2025. The profit after tax for Q2 FY26 reached ₹66.53 crore, up from ₹49.45 crore in the same quarter of the previous fiscal year, as stated in a BSE filing. The company’s net consolidated total income for Q2 FY26 was ₹155.06 crore, marking a 6.44% decline from ₹165.73 crore in the comparable quarter last year. Chetan Shah, the company’s chairman and managing director, stated, “We’ve had a robust quarter with a PAT of ₹67 crore, reflecting a 35%…