The Dharavi Redevelopment Project (DRP) has released its first eligibility list, identifying over 75% of tenement holders as eligible for new homes under the ambitious slum redevelopment initiative. The list covers 505 households in Mahim's Meghwadi and Ganesh Nagar, with 229 already cleared for resettlement and many others pending documentation or verification. Notably, the project offers inclusive rehabilitation to both residential and commercial units regardless of eligibility status and includes upper-floor residents, a first in Mumbai's redevelopment history. Residents have been invited to file objections or suggestions before the eligibility list is finalised.Read more

Mumbai's Coastal Road Project's north phase, connecting Versova to Bhayandar, has received crucial Stage 1 approval for mangrove forest diversion. The INR 20,000 crore project involves interchanges, elevated roads, and twin tunnels, with much of the area in the Coastal Regulation Zone. Approximately 8.24 hectares of mangrove forest and 9,000 trees will be affected. Mitigation includes planting over 1.37 lakh new mangroves and afforestation over 31 hectares. The BMC will now seek High Court approval to begin construction, aiming to reduce travel time significantly and ease traffic congestion in Mumbai.Read more

Keystone Realtors Ltd has secured a significant cluster redevelopment project in Andheri West, one of the city's most sought-after residential neighbourhoods. The developer has been appointed by eight housing societies for the redevelopment of a 4.75-acre parcel that currently houses 548 members. With development agreements already executed with five societies and Letters of Intent (LoIs) from the remaining three, the project is projected to create 10.6 lakh sq ft of saleable area, generating an estimated Gross Development Value (GDV) of INR 3,000 crore. This marks a major step in Keystone's strategy to strengthen its presence across high-potential suburban micro-markets in Mumbai.Read more

Mumbai recorded 11,521 property registrations in June 2025, a 1% dip from previous year, yet revenue from these registrations rose to 2% by INR 1,031 crore. For the first half of 2025, total property sales reached 75,982 units, a 5% increase, with revenue surging 15% to INR 6,727 crore, marking the strongest half-yearly performance since 2013. June saw a buyer shift towards properties above INR 5 crore, increasing to 6% of registrations. Apartments up to 1,000 sq ft continued to dominate, representing 84% of transactions. Western and Central Suburbs accounted for 88% of registrations, while South Mumbai's share decreased to 6%.Read more

Bollywood actor Randeep Hooda has acquired a 1,530 sq ft apartment in Versova, Andheri West, Mumbai, for INR 5.63 crore. The transaction was registered on June 10, 2025, with stamp duty of INR 33.78 lakh and a registration fee of INR 30,000 paid. This purchase is part of a trend of celebrity real estate investments in Mumbai's luxury market, with other public figures also recently acquiring properties in the dynamic Andheri West area.Read more

Over 70,000 housing units across 493 projects in the Mumbai Metropolitan Region are stalled due to a National Green Tribunal (NGT) directive requiring central environmental clearance for projects within 5 km of eco-sensitive zones. This change replaces previous state-level approvals and has caused major delays, especially in affordable and mid-income housing. Developers and homebuyers face financial stress, with construction paused in areas like Sanjay Gandhi National Park and Thane Bird Sanctuaries. A plea to allow work up to the plinth level was denied, citing NGT's August 2023 order. In Navi Mumbai, many government land projects are also stalled pending central clearance.Read more

Property registrations in Mumbai municipal limits recorded a slight decline for June, closing at approximately 11,600 units, as per data released by Knight Frank India. The final tally reached 11,586 registrations by 8:15 pm on June 30, slightly below the 11,673 units recorded in June 2024. The figures encompass transactions from both the primary and secondary markets, reflecting the overall residential activity within the Brihanmumbai Municipal Corporation (BMC) jurisdiction.Read more

CREDAI-MCHI supported Design POV 2025, held at Jio World Convention Centre from June 27-29, joining conversations on design, innovation, and urban development. A key panel on June 27, moderated by Dr. Harshul Savla, explored breaking myths around affordable housing and design. Speakers highlighted that modern luxury is about natural light, ventilation, spatial comfort, and well-being, not just expensive finishes. They advised against maximizing FSI at the cost of quality and emphasized the role of sustainability and wellness features like rainwater harvesting and efficient ventilation. Panelists stressed using data tools to align with market needs and balancing affordability with thoughtful, community-focused design.Read more

MMRDA has cut the estimated cost of the planned Uttan-Virar sea link project from INR 87,427 crore to INR 52,652 crore, saving around INR 35,000 crore. The reduction comes after a redesign that changed lane configurations from 4+4 to 2+2 lanes and shifted from a twin-pillar to single-pillar structural design. The sea link portion was also shortened from 24.4 km to 19 km, while the project's total length remains 55.1 km. About 72% of the new cost will be financed through loans, with the rest via state equity. Deputy CM Eknath Shinde has asked MMRDA to speed up approvals and submit a detailed project report.Read more

MMRCL has partnered with India Retail Hub Private Limited (IRHPL) to set up branded retail outlets, restaurants, offices, lounges, and food zones at Kotak-BKC and CSMIA-T2 stations along the Metro 3 corridor. This move comes as daily ridership jumped 114%-from about 24,500 to over 52,600-after a new stretch opened in May. IRHPL, known for its work in airport retail, will bring global brands and in-house labels to 32,000 sq. ft. of space across 35 locations within the two stations. This strategy follows a global trend of integrating retail into transport hubs, boosting commuter convenience and generating extra revenue for metro operators.Read more

Bollywood actor Jeetendra Kapoor and daughter Ekta Kapoor have sold their apartment in Mumbai's Omkar 1973 Worli project for INR 12.25 crore, or about INR 57,000 per square foot. The 2,149 sq ft flat includes two parking spaces and was officially registered on June 8, 2025. The Kapoors had bought it in 2017 for INR 11.52 crore. Omkar 1973 is a luxury residential project that has faced legal hurdles, including a stay order on new flat sales due to pending rent disputes with displaced residents. Despite this, resale activity continues. As of late 2021, less than half of the project's 136 launched apartments have been booked.Read more

The BMC has leased an 8,116 sq. m land parcel near Crawford Market, home to the Chhatrapati Shivaji Maharaj Market, for INR 369 crore-13% below the base price of INR 428 crore. Awarded to AAV Developers LLP for 30 years, the deal includes provisions for public infrastructure like a staircase, lift, and escalators for a planned foot over-bridge linking CSMT station to Mahatma Jyotiba Phule Mandai. Despite concerns over public utility and limited bidding-only two offers were received-the sale is part of BMC's strategy to ease financial pressure from infrastructure liabilities, which now exceed INR 2 lakh crore.Read more

JP Morgan has signed a 10-year lease for 1.16 lakh sq. ft. of office space in a newly built tower at Mumbai's Bandra Kurla Complex (BKC), developed by Sumitomo's Goisu Realty. The deal, valued at INR 6.91 crore in monthly rent with 15% escalations every three years, includes a INR 62.23 crore security deposit. The new space, spanning two floors, will serve as the bank's front office from October 2026. BKC, a key BFSI hub, continues to attract top firms-Tesla also recently leased showroom space nearby. Sumitomo is expanding rapidly in Mumbai, with major property acquisitions in Worli and Lower Parel.Read more

The BMC has opened public consultation on a draft regulation (33(27)) to define and incentivise "iconic buildings" under Mumbai's DCPR 2034. Eligible structures must display standout design, scale, or architectural vision. Developers may receive FSI relaxations by paying a premium up to 50% of land value, split between BMC and the state. A high-powered committee, chaired by the Municipal Commissioner and including global and Indian experts, will vet proposals. Public scrutiny of designs is encouraged. The draft mandates non-residential use, 18 m road access, and public plazas. The move echoes Mumbai's legacy of iconic architecture, aiming to blend innovation with heritage-conscious development.Read more

The Maharashtra government has allocated 30 acres in Bandra East's government colony for the new Bombay High Court complex, addressing severe space constraints at the existing 1878 Fort premises. Architect Hafeez Contractor will design the facility, featuring 75 courtrooms, judge residences, lawyers' chambers, archives, and amenities like daycare and parking. The move follows Supreme Court directives and a 2019 ruling, with phased handovers already underway. The broader 90-acre site will also host up to twelve 16-storey towers for civil servant housing and revenue-generating residential sales. The current Fort building, originally meant for 15 judges, now struggles to house 35 in overcrowded conditions.Read more