Tag: Thane

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…

IndustryLatest Stories

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…

IndustryLatest Stories

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…

Latest StoriesRegulatory

Whistleblower Targets Gov’t Dept & Civic Body in HC Contempt Action

THANE: Architect Sandeep Patil, who previously exposed a significant fraud involving MahaRera certificates in Dombivli, has returned to court. Last November, his efforts led the Bombay High Court to order the demolition of 65 illegally constructed buildings that were built using forged permissions. Patil has now filed a petition for contempt proceedings against the Kalyan-Dombivli Municipal Corporation (KDMC) and the state urban development department (UDD), claiming they have willfully ignored the court’s directives. The court had mandated that the government integrate the building permission systems of all 554 local bodies in Maharashtra with the MahaRera website to prevent similar frauds.…

Latest StoriesRegulatory

Thane Bribery Case: Third Accused Surrenders to ACB

THANE: An individual involved in the Thane Municipal Corporation bribery case surrendered to the Maharashtra Anti Corruption Bureau on Friday. Following this, a local court has placed him in police custody until October 6, according to an official. The accused has been identified as Sushant Surve. During a raid at the civic headquarters on October 1, Deputy Municipal Commissioner Shankar Patole and a private individual named Omkar Gaikar were arrested by the Anti-Corruption Bureau (ACB). A real estate developer, Abhijit Kadam, who has development rights for a plot in Vishnu Nagar, Naupada, reported to the Mumbai ACB that Patole allegedly…

Latest StoriesRegulatory

Thane Deputy Commissioner and Aide Arrested for Bribery

THANE: Shankar Patole, the deputy commissioner of the Thane Municipal Corporation (TMC), along with local resident Omkar Gaikar, were arrested by the Mumbai Anti-Corruption Bureau (ACB) late Wednesday for allegedly accepting a bribe from a developer. The Thane court has remanded them to police custody until October 4. Patole, who heads the TMC’s anti-encroachment unit, was reportedly caught in his office just hours after the civic body celebrated its 43rd foundation day. The ACB took action based on a complaint from a Mumbai-based real estate developer, accusing Patole of demanding a bribe to facilitate the clearance of illegal encroachments on…

InfrastructureLatest Stories

Thane Demolishes 198 of 264 Illegal Structures in Action

THANE: Since June, the Thane Municipal Corporation has demolished 198 unauthorized constructions as part of an ongoing crackdown, an official reported on Sunday. Additionally, unauthorized extensions in 66 other properties have been removed. Following orders from the High Court and inspections by beat inspectors and Special Vigilance Teams in Diva and Mumbra, the Anti-Encroachment Team has addressed a total of 264 unauthorized constructions to date, according to a TMC release. Municipal Commissioner Saurabh Rao reviewed campaign progress on Saturday. “All systems must remain vigilant to prevent unauthorized construction. Cases should be promptly registered under MRTP upon completing the legal procedures.…

CommercialLatest Stories

Capgemini sells Thane campus to Panchshil for ₹550 crore

Capgemini Technology Services India, a subsidiary of the French IT and consulting firm Capgemini, has sold its land and buildings in Thane’s Dighe area to Prime Lohegaon Infraspaces LLP for ₹550 crore. This transaction encompasses four land parcels totaling 15.38 acres within the Thane Creek Industrial Area, including five buildings that comprise part of the Capgemini Knowledge Park campus. This sale is one of the most significant outright transactions seen in the Thane submarket in recent years. Prime Lohegaon has paid a stamp duty of ₹27.5 crore for the deal, which was registered on September 17, according to documents from…

InfrastructureLatest Stories

Trial Run for Metro Lines 4 and 4A in Thane: Faster Travel Ahead

THANE: On Monday, the trial run for Phase I of Metro Lines 4 and 4A took place in Thane, Maharashtra. Chief Minister Devendra Fadnavis highlighted that this project will significantly decrease travel times across the Mumbai Metropolitan Region. Fadnavis, accompanied by Deputy Chief Minister Eknath Shinde and state Transport Minister Pratap Sarnaik, rode the Metro along a 4-km stretch from Gaimukh junction to Vijay Garden. In a statement to reporters, Fadnavis noted, “We aim to complete this Metro route by the end of next year. While some work may extend into the subsequent year, this will ultimately constitute the largest…