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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
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
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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
The Mumbai Metro Rail Corporation (MMRC) has rolled out free Wi-Fi services at all stations on Metro Line 3, responding to commuter concerns over weak mobile connectivity in underground sections. The service allows passengers to access the MetroConnect3 app for digital ticket booking directly from the concourse level of each station. MMRC expects this initiative to reduce waiting time, improve convenience, and enhance the overall travel experience, while further promoting the use of digital services among commuters.Read more
The Navi Mumbai Municipal Corporation (NMMC) carried out a demolition drive in the Belapur division after property owners ignored prior notices regarding unauthorised construction. Acting under the orders of the Additional District Court and following the directives of Commissioner Dr Kailas Shinde, the Encroachment Department, led by Additional Commissioner Dr Rahul Gethe and Deputy Commissioner Dr Kailas Gaikwad, executed the clearance operation with the support of civic and police personnel.Read more
Navi Mumbai is steadily redefining its economic landscape, with the Panvel-Kharghar corridor emerging as the city's new central business district. The inauguration of the Navi Mumbai International Airport (NMIA), along with game-changing infrastructure such as the Mumbai Trans Harbour Link (MTHL) and the proposed International Corporate Park in Kharghar, has transformed this once-peripheral zone into a major commercial and residential hub. Supported by strategic government planning, improved connectivity, and sustainable urban development, the region is poised to rival traditional Mumbai business districts like Bandra-Kurla Complex and Andheri.Read more
CRISIL Limited has finalized a 15-year lease for nearly 2.5 lakh square feet of office space in the Hiranandani Lightbridge building, located in Mumbai's Powai area. The lease, valued at INR 597 crore, will have CRISIL occupy the 10th to 15th floors along with 250 car and 75 two-wheeler parking spaces. The agreement includes a monthly rent of INR 2.35 crore with a 4.77% annual escalation. The new office, set to become CRISIL House, reflects the company's strategic focus on consolidating operations in Mumbai's rapidly growing commercial hubs.Read more
The Bhoomipujan for the Mata Ramabai Ambedkar Nagar and Kamaraj Nagar Slum Rehabilitation Scheme was held in the presence of Maharashtra Chief Minister Devendra Fadnavis, Deputy Chief Ministers Eknath Shinde and Ajit Pawar, and senior officials, marking MMRDA's first redevelopment project under its own wing in collaboration with SRA. Spanning 31.82 hectares, the project will benefit 17,000 families, with Phase 1 delivering 4,345 free 1BHK homes featuring modern amenities. Backed by a INR 1,500 crore loan, the scheme includes community facilities, infrastructure upgrades, and two years' rent for residents. The initiative represents a model for inclusive, sustainable urban redevelopment and a step toward a slum-free Maharashtra.Read more
The Brihanmumbai Municipal Corporation (BMC) has introduced an online lottery for the sale of 426 affordable flats across Mumbai, marking its first independent initiative of this kind. These homes, priced between INR 55 lakh and INR 1 crore, are located in Kandivli, Bhandup, Byculla, Kanjurmarg, Jogeshwari, and Goregaon, and are available exclusively to applicants from the Economically Weaker Section (EWS) and Low-Income Group (LIG). The move is expected to generate around INR 308 crore. Applications opened this week and will be processed through a lottery system managed entirely by BMC to streamline operations and enhance revenue.Read more
Earlier this week, Arnya Real Estate Fund Advisors announced a deployment of INR 415 crore in residential projects across Bengaluru and Navi Mumbai. Its assets under management have topped INR 675 crore, and full capital deployment is projected to cross INR 1,200 crore by March next year. The firm has also initiated a residential equity fund via a platform tie-up, targeting a corpus of INR 1,000 crore. These moves emphasise its growing role in backing housing developments across major Indian metros.Read more
Bollywood star Amitabh Bachchan has strengthened his presence in Alibaug, a coastal town near Mumbai, by acquiring three adjacent plots totaling 9,557 sq ft. The plots, part of the 'A Alibaug Phase-2' project by The House of Abhinandan Lodha, were bought for a combined INR 6.6 crore, following an earlier purchase of a 10,000 sq ft plot in the same area for INR 10 crore. These acquisitions highlight his consistent interest in luxury real estate in the region, a popular destination for high-profile individuals seeking premium second homes and villas.Read more
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