The BMC is actively reassessing two ambitious projects on Little Gibbs Road, Malabar Hill, situated above twin coastal road tunnels, following the Silkyara tunnel collapse. This safety review, triggered by a citizen-activist complaint, involves scrutinizing proposals for 3-4 storey basement construction by Aakar Architects and Barai Architects. Both firms, acting as liaising consultants, received no-objection certificates for high-rise buildings. Concerns arose about the potential risks to the twin tunnels and their structural integrity. Chief Engineer MM Swami emphasized adherence to the original plans for safety. Barai Architects acknowledged the BMC's letter, while Aakar Architects' response remains pending.Read more

Tenants associations across Mumbai are urging the chief minister and housing minister to appoint senior counsel and a reputable solicitor firm to advocate for the Maharashtra Rent Control Act, 1999, and Chapter VIII of the MHADA Act before the Supreme Court. The Property Owners Association and other stakeholders have challenged the constitutional validity of these acts since 2000, with a crucial hearing scheduled for February 6. Tenants fear a ruling in favour of property owners could jeopardize rent control in Maharashtra, potentially allowing arbitrary rents and evictions. Political leaders, including Mumbai's guardian minister and BJP representatives, pledge to address tenant concerns and protect their interests.Read more

hBits, a fractional ownership platform in India, has acquired 13,500 sq. ft. of prime commercial real estate in Mumbai's bustling Goregaon area, valuing at INR 27.31 crore. This strategic move opens a Grade A commercial real estate investment avenue for retail investors. The property, near Mumbai's economic hub, is leased to a prominent Indian-origin multinational tech firm for five years, ensuring a solid 3-year lock-in period. Boasting robust financial metrics with a 9% gross entry yield and a 15.49% expected internal rate of return, hBits aims for an INR 500 crore AUM by March 2024, capitalizing on Mumbai's thriving commercial real estate demand.Read more

Despite fewer working days in November, property registrations in Mumbai rose 8% YoY to 9,713 units, contributing over Rs. 711 crores to the state exchequer. Factors such as rising incomes, positive homeownership outlook, festive discounts, and attractive home loan offers drove this success. While November's registrations dipped from October, the overall trend remains positive, with a 10% YoY rise, and stamp duty revenues likely to surpass Rs. 10,000 crores for the first time. Prime property prices saw a 6.5% YoY increase in Q3 2023, contributing to Mumbai's sustained housing sales momentum.Read more

The Everest Food Products promoter group, known for the Everest spice brand, has invested over Rs 143.50 crore in two sea-view Mumbai apartments, boosting the total deal size to exceed Rs 213 crore. Previously securing a 53rd-floor residence in Oberoi Three Sixty West for Rs 73.50 crore, they expanded with an adjacent apartment and a similar-sized one on the 50th floor. The 53rd-floor unit was directly acquired from Oberoi Realty, while the 50th-floor residence was bought from SKS Infrabuild. Registered in November, these acquisitions include exclusive access to eight parking slots each, totalling 14 parking slots within the tower.Read more

Residents of Hiranandani Gardens in Powai are mobilizing to oppose Canadian real estate company Brookfield Properties' plan to replace the Citipark building with a mega mall. The proposed 18-storey tower in the bustling Central Avenue has raised concerns about increased congestion, worsened traffic during peak hours, and potential dust and noise pollution during construction. Residents also lament the diminishing green cover, signalling a broader transformation from a predominantly residential to a more commercialized neighbourhood. While Brookfield Properties claims efforts to increase green cover, residents are forming an official forum to voice concerns, even as the mall proposal awaits BMC approval.Read more

Roha Realty and Sabari Group have announced a strategic joint venture in Chembur, strengthening Roha Realty's position in the Mumbai Metropolitan Region. The collaboration aims to redefine premium living with sustainable residences covering 6 lakh sq. ft. and an estimated revenue of Rs 1000 crore. This follows Roha Realty's redevelopment agreement with MHADA for two societies in Subhash Nagar, aligning with their commitment to community enhancement. The collaboration with Sabari Group and the Subhash Nagar redevelopment anticipates generating approximately Rs. 1,500 crores, furthering Roha Realty's vision to be a leading developer prioritizing enduring value and customer-centric principles.Read more

The Navi Mumbai police have initiated legal action by filing an FIR against five individuals accused of coercively demanding Rs 1 crore from a builder in Panvel. The primary aggressor forcefully entered the builder's residence, physically assaulted him, and demanded the sum. Four additional individuals joined in, escalating the threat by issuing ominous warnings, including the potential harm to the builder's son if the demanded amount was not promptly paid. The situation presents a serious threat beyond financial extortion, involving the safety of a family member. The ongoing investigation aims to identify and apprehend the perpetrators while exploring the motives behind this alarming incident.Read more

Breach Candy and Jaslok hospitals in Mumbai are undergoing substantial expansions to meet rising patient demands. Breach Candy plans to operate from a new 11-storey building with upgraded facilities like ICUs, outpatient departments, and isolation wards, costing around Rs300 crores. Jaslok is reorganizing spaces for better patient movement, adding annexes with specialized units like ICUs and dialysis. Both hospitals aim to optimize functionality, improve fire safety, and create separate parking facilities. These initiatives reflect their commitment to evolving healthcare needs while ensuring top-notch care for patients in South Mumbai.Read more

Central Railway's (CR) harbour line in Mumbai, plagued by encroachments and hygiene issues impacting train speeds, witnessed a significant initiative. CR authorities commenced the demolition of encroachments between Chunabhatti and GTB Nagar stations on November 27 to increase speeds to 105 km per hour. Railway security forces assisted in removing 140 shops and 25 hutments, aiming to clear soft encroachments and address the challenge of garbage and excreta on the tracks. The upgrade, crucial for track improvements, seeks to enhance punctuality for the substantial commuter base. Despite ongoing efforts, challenges, including political opposition, persist, reflecting the persistent dissatisfaction with services.Read more

In a concerning trend, a second fire occurred within a week in South Mumbai, this time at Nathani Heights, a 21-storey residential building in Agripada. Fortunately, all six families were safely evacuated, and no casualties were reported in this level 1 fire. The blaze originated in the electrical duct between the 5th and 15th floors, prompting a swift response from the Mumbai Fire Brigade. The building's upgraded inbuilt firefighting system played a crucial role in managing the situation. The incident underlines the importance of adhering to fire safety norms and regulations, emphasizing the need for residents to comply with guidelines and promote responsible electrical usage to prevent future incidents.Read more

Home buying in Mumbai is undergoing a significant shift, as buyers now prioritize convenience over the traditional emphasis on location. Modern home buyers seek proximity to large retail outlets, malls and social infrastructure to align with their busy lifestyles. This shift reflects a more knowledgeable and research-oriented approach. Improved connectivity in Mumbai and the MMR region, driven by ongoing infrastructure projects, has contributed to this transformation. Areas like Goregaon, Kandivali, Borivali and Mira Road in the western suburbs are witnessing heightened demand, driven by connectivity improvements and better social infrastructure. This trend signifies a departure from the traditional focus on location, with convenience and lifestyle choices taking precedence.Read more

The Bombay High Court, in a landmark decision, has assured tenants of the Ismail Baug building in Malad that their tenancy rights will be preserved despite the building's demolition. The court upheld the BMC's demolition notice, citing safety concerns, but emphasized that tenants would be reinstated once the building is reconstructed. The ruling came after a detailed consideration of conflicting structural audit reports and underlines the judiciary's commitment to balancing public safety with the protection of tenants' rights in urban development scenarios.Read more

Godrej Properties Limited (GPL), the real estate arm of the Godrej Group, is set to launch a luxurious residential project in Mumbai following the strategic acquisition of Raj Kapoor's bungalow in Chembur. The project, with an estimated sales booking value of Rs 500 crore, promises state-of-the-art amenities and green spaces. GPL aims to further expand its presence in the real estate market, with a particular focus on Hyderabad. The company's strategic vision includes group housing and plotted development in key markets, exemplified by the successful launch of 18 projects with a cumulative future booking value exceeding Rs 32,000 crore.Read more

Bollywood icon Amitabh Bachchan has gifted his Juhu bungalow, "Prateeksha," to his daughter Shweta Nanda. The property, divided into two plots totalling 16,840 sq ft, was officially transferred through two gift deeds on November 8th this year. Amitabh Bachchan and Jaya Bachchan owned the larger plot, while the smaller plot was solely owned by Amitabh Bachchan. The stamp duty paid for both gift deeds was Rs 50.65 lakh. The Bachchans own several other properties in the notable Juhu area, including the bungalows ‘Jalsa’ their primary residence and ‘Janak’ which is said to be used as an office.Read more

The Bombay High Court's ban on open carrying of construction debris, implemented to combat rising pollution, has lapsed, potentially bringing relief to 9,000 construction sites in Mumbai. Initially imposed on November 6 and extended until November 19, the ban aimed to curb pollution caused by the transportation of debris. The BMC is now likely to permit the uncovered transport of construction debris by trucks, addressing concerns raised by project proponents about the inconvenience caused by debris accumulation. The Union environment ministry had directed stringent measures against debris transport due to its significant contribution to air pollution in the Mumbai Metropolitan Region.Read more

The reopening of the Delisle Bridge in Mumbai after a five-year closure is a significant relief for commuters heading to South Mumbai. The bridge, closed in 2018 due to structural concerns, underwent reconstruction as a collaborative effort between the BMC and Western Railway. Despite facing challenges, such as shortages of oxygen and gravel during the pandemic, and missing multiple deadlines, the bridge has finally reopened to traffic. The Delisle Bridge is a vital link for pedestrians and commuters accessing commercial and office complexes in Lower Parel, providing essential connectivity in the region.Read more

BMC is set to revamp Mumbai's Eastern Freeway with a Rs 33.66 crore project, calling for tenders to address crucial upgrades. The 16.8-kilometer elevated road, linking Mankhurd to P D'Mello Road, has been operational since 2014 under BMC's jurisdiction. Identified issues include potholes and joints affecting traffic flow, prompting comprehensive repairs. The project covers bridge bearing changes, pothole fixes, and utility management over 18 months. Once completed, it promises smoother and safer commuting, representing a key stride in BMC's commitment to Mumbai's transportation infrastructure.Read more