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Recently, actor Sonu Sood and his son Eshaan Sood acquired a plot of land in the Shirdon area of Panvel Taluka for INR 1.05 crore. The site spans approximately 0.0650 hectares (777 square yards), and the transaction included stamp duty and registration charges. In a separate purchase, Eshaan also bought an apartment in Andheri West, Mumbai, for INR 2.6 crore earlier in the year, with associated duties and fees duly recorded.Read more
The Mumbai Metropolitan Region Development Authority (MMRDA) has obtained approval to cut 320 trees and transplant 386 for a new infrastructure project along the Vikhroli-Ghatkopar stretch. As compensation, 4,175 new trees will be planted in the area, focusing on native and pollution-resistant species. The project also aims to retain 949 existing trees and preserve 127 Pink Trumpet trees. While MMRDA highlights careful planning and scientific transplantation methods, local residents and environmental groups remain concerned about the ecological impact of cutting mature trees and whether compensatory planting can match their environmental benefits.Read more
Nikhil Nanda, son-in-law of Amitabh Bachchan and Chairman of Escorts Kubota Limited, has bought a luxury apartment in Juhu, Mumbai, for around INR 28 crore. The 3,550 sq ft apartment, part of K Raheja Corp's Maestro project, includes three parking spaces and a terrace, and the sale was executed through his sister Nitasha Nanda. The project, set for completion by the end of 2026, spans 1 lakh sq ft and offers panoramic views of Juhu Aerodrome and the Arabian Sea, catering to high-net-worth individuals and Bollywood personalities.Read more
The Mumbai Metro Rail Corporation (MMRC) has partnered with Cityflo to introduce dedicated feeder bus services for Metro Line 3, enhancing first and last-mile connectivity. The services currently operate from Bandra-Kurla Complex (BKC) and Worli, linking key business and residential hubs such as NSE, Jio Garden, Kamala Mills, and One Indiabulls Centre. Plans are underway to extend routes to Chhatrapati Shivaji Maharaj Terminus (CSMT). Buses run every 10 minutes during peak hours with affordable fares and digital ticketing through Cityflo and MetroConnect3 apps, ensuring smooth, convenient travel for daily commuters.Read more
The Mumbai Metropolitan Region is projected to become a leading global urban economy by 2047, with GDP estimated at USD 1.2-1.5 trillion and population reaching 3.6-3.8 crore. The masterplan prioritizes sustainable and inclusive growth through infrastructure, job creation, and economic diversification. Key projects include metro expansion, ports, highways, financial districts, and urban redevelopment. Employment, especially for youth and women, is expected to rise significantly. Private investments, environmental initiatives, and sectoral reforms are central to achieving targets, positioning MMR alongside global hubs like Tokyo, London, and Singapore.Read more
Realty developer House of Hiranandani has announced its plans to invest about INR 500 crore in a new commercial project located in Andheri East, Mumbai. The company, known for its large-scale residential and commercial developments, has recently acquired a one-acre plot for this purpose. The project will feature a premium-grade commercial tower with a total leasable space of nearly 4 lakh sq ft. With this investment, the company intends to strengthen its foothold in Mumbai's rapidly evolving office market.Read more
The Bombay High Court has clarified that CIDCO's 22.5% developed land return scheme is optional, not mandatory, for landowners. If landowners choose not to participate, CIDCO must follow the due process under the LARR Act, 2013, and the Maharashtra Regional and Town Planning (MRTP) Act, including providing full monetary compensation. The judgment reinforces statutory property rights and fair compensation principles. Experts suggest the ruling could affect land acquisition practices in Navi Mumbai, particularly in projects like the Navi Mumbai Airport Influence Notified Area (NAINA) and Navi Mumbai International Airport (NMIA).Read more
The Bombay High Court recently annulled the Slum Rehabilitation Authority's (SRA) acquisition of NESCO Limited's land in Goregaon (East) for a slum redevelopment project. The court determined that the acquisition violated due process under the Maharashtra Slum Areas (Improvement, Clearance and Redevelopment) Act, 1971. NESCO had contested the acquisition, asserting its right to redevelop its land and challenging the legality of the proceedings. In a surprising turn, slum dwellers supported NESCO's stance, citing issues with the previous developer.Read more
The Bombay High Court has directed municipal corporations and state authorities to pay compensation for deaths and injuries caused by potholes and open manholes, highlighting citizens' right to safe roads. The court criticized authorities for repeated negligence and emphasized that compensation must be disbursed promptly, with strict accountability for officers and contractors responsible. Committees are to be formed to assess claims and monitor compliance. Compensation ranges from INR 50,000 to INR 6 lakh, with funds recoverable from contractors or, if unavailable, borne by the concerned authorities.Read more
Mumbai is gearing up for a new era in luxury living with the emergence of 'Bandra Bay', a waterfront belt alongside Bandra-Kurla Complex. According to a report unveiled jointly by Lighthouse Luxury and CRE Matrix, the development, estimated at over INR 1 lakh crore, will encompass about 8 million sq. ft. of high-end residential and retail projects. The report highlighted Bandra Bay's potential to rival global icons like Palm Jumeirah and Marina Bay, citing strong infrastructure, limited supply, elite demand, and unmatched connectivity as key growth drivers.Read more
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The Brihanmumbai Electric Supply and Transport (BEST) Undertaking has moved to redevelop its Santacruz bus depot and staff quarters by inviting applications to appoint a consultant for obtaining a No Objection Certificate (NOC) from the Airports Authority of India (AAI). The site, spanning over 13,000 sqm, lies within the Juhu airport funnel zone, where building heights are strictly regulated. Citizen groups have expressed concerns that redevelopment could reduce bus parking space and signal privatization, referencing earlier depot handovers at Mahim and Kurla. BEST maintains that the project will comply with all regulatory procedures.Read more
The Fourth Mumbai initiative by the Maharashtra government is transforming urban development beyond central Mumbai, positioning Vasai as a key beneficiary. Major infrastructure projects like the Vasai-Virar elevated corridor, Metro Line 13, and the Vasai-Diva-Panvel railway extension are improving connectivity and easing travel to Mumbai and the upcoming Navi Mumbai International Airport. Alongside road upgrades, high-speed rail proposals, and port development, Vasai is attracting private real estate investments. Strategic planning, upgraded civic amenities, and industrial facilities are helping the suburb evolve into a sustainable economic, residential, and commercial hub.Read more
Strata completed its exit from its Express Zone office in Goregaon East, Mumbai, for INR 40 crore, having originally purchased it for INR 33.6 crore. Over the holding period, investors earned rental returns of INR 12.9 crore. The deal is reported to have generated an internal rate of return (IRR) of 13 % alongside approximately 20 % capital appreciation. The property was fractionally held among 120 investors, and the lease completion allowed a successful handover and sale to a financial buyer.Read more
Goregaon is emerging as one of Mumbai's most dynamic real estate hubs, driven by cluster redevelopment projects that go beyond traditional building upgrades. Modern 2BHK and 3BHK apartments, lifestyle amenities, and preserved green spaces are reshaping the suburb for young families, working professionals, and investors. Improved connectivity through extended railway lines, metro expansions, and new link roads enhances accessibility and property value. Integrating residential, social, and commercial infrastructure, these projects embody holistic urban renewal, balancing growth with lifestyle convenience and retaining the area's unique film industry heritage.Read more
The Bombay High Court has issued notices to Goa's Town and Country Planning Department over recent amendments to the Goa Land Development and Building Construction Regulations, 2010. These amendments allow the government to approve relaxations in height and floor area ratio (FAR) for individual plots, bypassing prior public scrutiny. The Goa Foundation and residents from Margao, Panaji, Chimbel, and Pernem have challenged more than 739 such relaxations, highlighting concerns over environmental, social, and planning impacts. The court has directed replies from authorities and scheduled the next hearing for mid-November.Read more
The Maharashtra State Fisheries Department has decided to drop its earlier plan for redeveloping the Taraporewala Aquarium after realizing it lacked specialized aquarium design expertise. The April plan had proposed a six-storey building at an estimated cost of INR 296 crore. The new approach involves appointing a world-class consultant and architect to prepare a detailed project report and manage the project. The revised plan has a sanctioned budget of INR 350 crore and is expected to take 1.5 years. The over 75-year-old aquarium, closed during the COVID lockdown, previously housed more than 500 aquatic species.Read more
Mumbai's ever-evolving skyline mirrors its unyielding ambition, yet behind the glitz lies a real estate sector grappling with financial unpredictability, policy instability, and bureaucratic hurdles. Despite contributing significantly to India's GDP, developers face higher borrowing rates, fluctuating premiums, and prolonged approval processes. Experts have urged the formal recognition of real estate as an industry, alongside regulatory stability, transparent approvals, and full digitisation to ensure investor confidence and market reliability in the long run.Read more
Mumbai-based developer Aspect Realty is set to deliver more than 600 flats under the Slum Rehabilitation Authority (SRA) project in Worli by January next year. The company had taken over the INR 450-crore project last year, which had been stalled for 17 years. Aspect Realty cleared all pending dues of the previous developer and restarted construction with fresh funding. Each 300 sq ft flat includes a living/dining area, kitchen, bedroom, and separate bath and toilet, and will come with a full set of essentials. The project offers long-awaited ownership and security to resident families.Read more
Naigaon is steadily becoming a significant hub in Mumbai's northern corridor. Infrastructure projects such as the Bhayandar-Naigaon Creek Bridge, Metro Line 13, and the Virar-Alibaug Multi-Modal Corridor are improving connectivity within the city and beyond. Additional initiatives, including the Mumbai-Ahmedabad Bullet Train, Vadhavan Port, and a proposed greenfield airport, are linking the suburb to national and international trade and transport networks. Improved roads, railways, healthcare, and educational facilities are making daily life easier. Affordable housing and strong civic oversight make Naigaon an attractive option for families and investors.Read more
The Bombay High Court recently dismissed a petition by a member of a Goregaon (West) housing society challenging the appointment of a developer without following a tender process. The court clarified that the guidelines in the July 2019 government resolution (GR) are directory, not mandatory. The society's majority decision, supervised by an authorized officer, was upheld, reinforcing that procedural lapses alone do not invalidate redevelopment unless they violate statutory requirements. The ruling also emphasized cluster redevelopment initiatives and the legal autonomy of housing societies in managing redevelopment projects.Read more
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