Tag: Thane

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Private firms to manage 60 property registration centers; Pune, Mumbai first

Representative AI image PUNE: The state government plans to establish 60 property registration offices across Maharashtra, managed by private institutions, to simplify the process, enhance efficiency, and reduce waiting times—albeit at an additional cost, officials informed TOI on Friday. The proposed centers are designed similar to passport service centers and will operate alongside the current 517 government-run sub-registrar offices. Officials stated that the revenue department approved the proposal last year, and its implementation will occur in phases. In the first phase, five centers will be launched in Mumbai, Pune, Thane, and Nagpur. “We anticipate opening them within six months. Tenders…

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Godrej Properties to Co-Develop 18 Acres in Thane

Representative Image NEW DELHI: Godrej Properties (GPL) has signed a joint development agreement for an 18-acre land parcel in Thane. The anticipated project will primarily be residential, with an estimated revenue potential exceeding ₹7,500 crore. Gaurav Pandey, MD & CEO of the company, stated, “This is our fourth development in Thane, and the substantial size of the land will facilitate a meticulously planned integrated residential project.” Published On Feb 23, 2026 at 10:02 AM IST Join a community of over 2 million industry professionals. Subscribe to our Newsletter for the latest insights and analyses delivered to your inbox. Stay updated…

Latest StoriesRegulatory

Thane Civic Body Collects ₹556 Cr Tax, Targets Defaulters

THANE: The Thane civic body in Maharashtra has collected ₹556.19 crore in property tax for the fiscal year 2025-26, falling short of its ₹841 crore target by over ₹200 crore, as reported on Friday. Municipal Commissioner Saurabh Rao has issued orders for strict measures against defaulters due to this shortfall. According to an official statement, the highest property tax collection came from the Majiwada-Manpada ward at ₹175.01 crore, followed by Vartak Nagar with ₹88.77 crore and Naupada-Kopri with ₹74.12 crore. After a review meeting earlier this week, the commissioner has instructed officials to cut water supply to defaulters in residential…

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Raymond Realty Q3 FY26 Net Profit Hits ₹66.79 Crore

NEW DELHI: Raymond Realty has announced a consolidated net profit of ₹66.79 crore for the quarter ending December 31, 2025, a significant increase from ₹3.01 crore reported in the same quarter last fiscal year, according to a BSE filing. The company’s consolidated total income for Q3 FY26 reached ₹765.97 crore, compared to ₹93.26 crore in the corresponding quarter of the previous year. Harmohan Sahni, the managing director and CEO, stated, “Margins were temporarily affected due to upfront approval and marketing expenses, which are crucial investments for achieving scale and ensuring sustainable long-term growth.” The company projects that joint development agreements…

Latest StoriesRegulatory

No Occupation Certificate Without Sewage Plant: Bombay HC to Maharashtra

MUMBAI: The Bombay High Court has instructed all civic authorities in Maharashtra to withhold the issuance of Occupancy Certificates (OC) for any structure until developers comply with building permissions and establish effective sewage management. A bench composed of Justices Ravindra Ghuge and Abhay Mantri acknowledged the significant issues arising from sewage dumping into the Ulhas River, noting the absence of adequate Sewage Treatment Plants (STPs) at 438 purported unauthorized structures in Thane district. The court was considering a petition from a Badlapur resident highlighting illegal constructions by a developer. It mandated that the municipal council must take action to curb…

Latest StoriesResidential

Arkade to Invest ₹2,500 Crore in 5 Mumbai Projects by 2026

NEW DELHI: Arkade Developers is set to invest approximately ₹2,500 crore in the development of five residential projects across the Mumbai Metropolitan Region (MMR) in 2026. The projects are planned for Goregaon, Thane, Borivali, Malad, and Santacruz, collectively boasting a gross development value (GDV) exceeding ₹3,700 crore. The total developable area across these five projects will be 4.41 million sq ft, with a saleable carpet area estimated at around 1.4 million sq ft. The company is currently engaged in developing over 5.5 million sq ft of real estate and has delivered more than 650 residential units in FY25. Published On…

Latest StoriesResidential

Thane Societies Accuse Rajshila Construction of FSI Misuse

MUMBAI: Five cooperative housing societies in Thane have filed a petition with the Bombay High Court, accusing the local builder, Rajshila Construction LLP, of unlawfully utilizing their floor space index (FSI) to construct new high-rise towers on land that is already developed and occupied. The petition, submitted by the Prestige Garden A-1, Prestige Garden A-2, Harmony, Ambience, and Prestige Garden B-1 & B-2 Cooperative Housing Societies, asserts that Rajshila Construction has misappropriated their property rights, while the Thane Municipal Corporation (TMC) improperly approved the developer’s plans for new projects. Rajshila Construction, founded in 2020 and registered under MahaRERA for a…

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Embassy Developments Reports ₹152.61 Crore Loss in Q2 FY26

NEW DELHI: Embassy Developments (EDL) disclosed a net consolidated loss after tax of ₹152.61 crore for the quarter ending September 30, 2025, as per their BSE filing. Their net consolidated income for Q2 FY26 was ₹536.90 crore. For the quarter and the half-year, the company secured ₹44.99 crore and ₹1,205.64 crore respectively in share warrant money, with shares allocated accordingly. Furthermore, during this quarter, they received an additional ₹7.10 crore in share warrant money, pending share allocation. “All ongoing projects are on track, with the successful completion of two legacy developments in Vizag and Thane. This progress will soon reflect…

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Raymond Realty Q2 FY26 Income Reaches ₹706 Crore

NEW DELHI: Raymond Realty has reported a total income of ₹706 crore in Q2 FY26, marking a 20% year-on-year increase from ₹589 crore in Q2 FY25. The company’s EBITDA rose to ₹101 crore in Q2 FY26, compared to ₹95 crore in the same quarter last year, with an EBITDA margin of 14.3% in Q2 FY26, down from 16.2% in Q2 FY25. According to Harmohan Sahni, managing director, “We are on track with our strategic plan for the latter half of the year, expecting increased operational activity supported by a new pipeline of project launches.” The current potential revenue from its…

Latest StoriesResidential

Maharashtra Deputy CM Suggests Policy for Redevelopment Safety

THANE: The state housing department is developing a new policy aimed at preventing redevelopment projects from halting midway and ensuring residents are not displaced without compensation. Deputy Chief Minister Eknath Shinde announced on Saturday that developers will be required to deposit three years’ rent before commencing any redevelopment work. Shinde stated, “Some builders initiate redevelopment projects, displace residents from their flats, and either fail to pay rent or delay construction. Occasionally, they even trade rights with other developers, resulting in stalled projects and inconvenience for residents.” He continued, “To counter this, we are implementing a policy requiring builders to deposit…