The Securities and Exchange Board of India (SEBI) has leased a 5 BHK apartment in Prabhadevi, Mumbai for its new chairman, Tuhin Kanta Pandey, at a monthly rent starting at INR 7 lakh. The three-year lease totals INR 2.65 crore, with annual escalations. The apartment is part of Rustomjee Crown Tower and includes four parking spaces. SEBI clarified that the arrangement falls under its approved housing policy. The deal comes amid a steady rise in luxury rental transactions in Mumbai, where more than 3 lakh agreements are registered annually.Read more

The Brihanmumbai Municipal Corporation (BMC) has reset deadlines for several key bridge and flyover projects to improve coordination and ease traffic congestion. The Vidyavihar Flyover will see its eastern side completed by December 2025 and the western section by May 2026, pending relocation of affected residents. Sion Flyover is also scheduled for May 2026, while a delayed foot overbridge there is now due in October 2025. At Mahalaxmi, the city's first cable-stayed rail overbridge is targeted for November 2026. Bellasis Flyover near Mumbai Central has an internal deadline of December 2025. Officials emphasised timely completion to avoid disruptions following past closures of unsafe bridges.Read more

The Mumbai Metropolitan Region Development Authority (MMRDA) has announced that the 20-km Mumbai Monorail network will be shut from September 20 for a two-month upgrade programme. The decision follows a series of technical failures in recent weeks, including trains stalling during heavy rain. The upgrade plan involves inducting new rakes, installing an advanced signalling system, and overhauling the existing fleet. Once complete, train frequency is expected to improve to 8-10 minutes. The system, first launched in 2014 but plagued with frequent breakdowns, will be operated by Maha Mumbai Metro Operation Corporation Limited (MMMOCL) after the upgrade.Read more

Mahindra Lifespace Developers Ltd has been chosen to redevelop two residential societies in Chembur, Mumbai, with a combined gross development potential of INR 1,700 crore. Covering 4.4 acres-2.6 acres for one society and 1.8 acres for the other-the projects mark a significant addition to the company's urban residential portfolio. Known for its focus on sustainable growth, Mahindra Lifespace is strengthening its presence in Mumbai's redevelopment market, a sector gaining momentum in high-demand neighbourhoods.Read more

Mumbai is set to witness a major leap in urban mobility with Metro Line 2B, the east-west corridor, approaching a key milestone. Phase I, spanning Mandale to Chembur over 5.39 km, has entered the statutory safety approval stage. Authorities, including the Metropolitan Commissioner of MMRDA, have inspected the stretch and issued directives to ensure timely completion. Once certified, the line will enhance travel efficiency, reduce road congestion, and seamlessly integrate with other metro lines, monorail, and suburban rail networks, promising a transformative urban commuting experience.Read more

The Maharashtra government has signed an MoU with Lodha Developers to set up a Green Integrated Data Centre Park in Palava City, Dombivli, near Mumbai. Spread across 370 acres in Ambernath, Thane, the project will have a planned 2-gigawatt capacity and attract INR 30,000 crore in investment. The park will host leading domestic and global data centre companies, creating around 6,000 jobs. Part of Maharashtra's Green Data Centre Parks policy, the facility will run on renewable and alternative energy. With India's data centre capacity projected to rise from 8.3 GW to 20-25 GW by 2030, this project strengthens Mumbai's position as a key hub for digital and clean energy infrastructure.Read more

The Maharashtra government is preparing a new policy to simplify occupancy certificate (OC) approvals for thousands of buildings in Mumbai and its suburbs. Targeted at projects that have long faced delays due to rule changes, lapses, or disputes, the scheme will allow residents to apply online, with penalties waived if applications are made within six months. Issues such as floor area discrepancies, setbacks, and stalled projects will be addressed, while additional space used will require payment of premiums. Recommendations include protecting open spaces, ensuring parking, and permitting partial OCs where feasible. The move aims to ease legal uncertainty, support housing societies, and bring long-pending buildings into compliance.Read more

The Maharashtra government has cleared the INR 23,487 crore Metro Line 11 project, running 17.5 km from Wadala's Anik Bus Depot to SPM Circle near the Gateway of India, with 14 stations-13 underground. The project will be funded jointly by the state (INR 3,137 crore), the centre (INR 3,137 crore), Brihanmumbai Municipal Corporation (INR 2,411 crore) and Mumbai Port Authority (INR 804 crore), with a 60% loan from financial institutions. The fare slab is fixed between INR 10 and INR 70, rising by INR 10 every three stations, and the line aims to ease traffic congestion and integrate with other metro lines.Read more

The Bombay High Court has provided significant relief to real estate developers by ruling that Goods and Services Tax (GST) on construction services under Joint Development Agreements (JDAs) is payable only upon transfer of ownership through conveyance, and not at the time of signing the agreement. The judgment came in a case involving Provident Housing, which had challenged a tax demand and sought a refund of INR 7 crore deposited under protest. Developers had argued that the earlier interpretation forced them to bear an 18% GST burden upfront, often without input tax credit, inflating project costs and ultimately impacting homebuyers. This clarity is expected to streamline redevelopment deals, ease financial strain, and improve affordability in land-scarce urban markets.Read more

Mumbai's historic Elphinstone Road Over Bridge, a key east-west link connecting Parel and Prabhadevi, will be closed for vehicular traffic ahead of its demolition and reconstruction. The bridge, over a century old, will be replaced with a modern double-decker structure as part of the Sewri-Worli Elevated Connector project by MMRDA. The upgraded bridge will feature dual carriageways on both levels, enhancing connectivity between central Mumbai, the Mumbai Trans Harbour Link, and the Bandra-Worli Sea Link. A detailed traffic management plan has been devised to minimise inconvenience during the closure.Read more

The Brihanmumbai Municipal Corporation (BMC) has prepared a policy to manage Mumbai's Western and Eastern Express Highways, which are around 25 kilometers each. The plan suggests consistent maintenance of central medians, better management of road work, measures to reduce traffic jams, and clear rules for advertisements along the highways. It has been sent to the municipal commissioner for review. The policy comes after repeated concerns over traffic congestion, irregular maintenance, and unclear rules for advertisements on these busy commuter routes.Read more

Mumbai's civic body will demolish the INR 27 crore Veer Savarkar flyover at Goregaon-opened in 2018-and replace it with a double-deck elevated bridge. Additional Municipal Commissioner Abhijit Bangar confirmed the move, noting that the new structure will better handle both local traffic and regional connectivity. The bridge, part of the Coastal Road 2 project, will directly link the Malad-Mindspace stretch with the Goregaon-Mulund Link Road, easing bottlenecks. Designed with a single-pier system and two traffic decks, it promises smoother flows compared with the current flyover. Citizens have compared the decision to the Gokhale-Barfiwala flyover mismatch of 2022, citing planning lapses.Read more

The Reserve Bank of India (RBI) will set up a new office complex on a 4.2-acre site at Nariman Point, one of Mumbai's most prestigious business districts. The land, earlier owned by Mumbai Metro Rail Corporation Limited (MMRCL), was formally transferred to RBI on September 5. MMRCL had originally planned to auction the parcel, expecting INR 5,173 crore, with major real estate players showing interest. However, the tender was withdrawn after RBI expressed intent to acquire it, enabling a direct government-to-government deal. The plot, once home to party offices, was later cleared for the Vidhan Bhavan Metro station under Line 3.Read more