Brookfield Asset Management has expanded its footprint in Mumbai, acquiring another floor in Godrej BKC for INR 370.25 crore under the IBC process. Exercising its right of first refusal, Brookfield now controls three contiguous floors-about 250,000 sq ft-along with parking rights and Jet Airways' former board seat for the building. The deal comes amid surging BKC rents, now INR 650-700 per sq ft per month. Brookfield's earlier two floors, bought in 2020, are leased to tenants like World Bank and PayPal. The firm has also secured a prime two-acre plot in BKC, reinforcing its long-term strategy in Mumbai's premium office market.Read more

Mumbai recently hosted the curtain raiser for the upcoming NAREDCO National Convention, set to take place in New Delhi later this month under the theme Resilient India: Inclusive, Sustainable, and Future-Ready. The event will bring together policymakers, industry leaders, and technology experts to discuss urban transformation, housing redevelopment, and sustainable growth. Inspired by Mumbai's redevelopment and affordable housing models, the convention will focus on RERA reforms, ease of doing business, rental housing, green construction, and technology adoption. With over 800 delegates expected, sessions will address financing, infrastructure, urban mobility, and liveability standards, aiming to shape policy and encourage innovation in India's real estate sector.Read more

The International Finance Corporation (IFC) has committed USD 150 million as an anchor investor in HDFC Capital's newly launched H-DREAM Fund, a USD 1 billion initiative targeting affordable and mid-income housing projects across India. The fund, managed by HDFC Capital Advisors, aims to support the construction of over 25,000 green-certified homes following EDGE standards. With this investment, IFC expects to mobilise an additional USD 850 million from global and domestic institutional investors. This move aligns with India's growing housing demand and contributes toward its estimated USD 1.4 trillion green buildings opportunity by 2030, with a strong focus on the residential sector.Read more

India's largest real estate developer, DLF Ltd, is set to invest INR 23,500 crore towards completing its ongoing residential projects across Delhi-NCR and Mumbai. With a strong liquidity position, including INR 10,429 crore in cash and INR 37,220 crore in customer receivables, the company is well-capitalized for this construction drive. Recent launches like DLF Privana North in Gurugram and a premium project in Mumbai have already seen complete sell-outs, significantly contributing to record-breaking sales bookings. DLF is targeting INR 20,000-22,000 crore in bookings this fiscal, having already crossed INR 11,425 crore in the first quarter.Read more

Arisinfra Solutions Ltd reported a 21% drop in net profit for the first quarter of FY26, attributing the dip to one-time public issue expenses. The company's revenue, however, rose by 11% year-on-year. A provisional order worth INR 40 crore was also secured by its subsidiary, ArisUnitern RE Solutions Pvt Ltd, indicating robust operational momentum. Excluding IPO-related costs, the company claims its adjusted PAT surpasses the entire previous fiscal's profit. This quarter marks a key milestone as the firm ramps up operations across the construction and real estate sectors.Read more

Reliance Infrastructure's power distribution arms, BSES Yamuna Power Ltd and BSES Rajdhani Power Ltd, have received Supreme Court approval to recover INR 21,413 crore in regulatory assets over the next four years. This decision came as part of a broader directive where Delhi's three private discoms, including Tata Power Delhi Distribution Ltd, are allowed to recover a total of INR 27,200.37 crore. The court's judgment settles a decade-long dispute, mandating Electricity Regulatory Commissions to not only set recovery roadmaps but also audit the reasons behind the prolonged deferral.Read more

The Reserve Bank of India recently released a draft circular proposing stricter timelines and penalties for banks that delay settling claims related to the accounts, lockers, or safe custody articles of deceased customers. The central bank suggested that banks must release funds to nominees without demanding succession certificates or court orders, provided there's no dispute and only basic documents are submitted. Delays would attract penalties interest at bank rate plus 4% for deposits, and INR 5,000 per day for lockers. Even non-nominee claims can be processed internally up to INR 15 lakh. Feedback on the draft is being invited before final guidelines are issued.Read more

AU Small Finance Bank has received in-principle approval from the Reserve Bank of India to transition into a universal bank, making it the first small finance bank in nearly ten years to achieve this regulatory milestone. The approval was granted under the RBI's "on-tap" licensing framework after AU met all eligibility conditions, including financial soundness, governance standards, and operational performance. The move allows the bank to broaden its range of services and establish subsidiaries. Following the announcement, the bank's stock surged over 7%, reflecting positive investor sentiment.Read more

Reliance Retail, India's largest retailer and part of Reliance Industries, has scaled up its capital expenditure by 37.5%, reaching INR 33,696 crore for FY2025-26. This surge aligns with its aggressive expansion strategy, including store rollouts, digital integration, and strengthening its FMCG presence. Revenue climbed to INR 3.3 lakh crore, backed by consumer electronics, grocery, and fashion segments. With nearly 19,340 stores, strategic partnerships with top global brands, and acquisitions of emerging Indian labels, the company has reinforced its leadership in both offline and online retail. It continues to lead in the omni-channel space, supported by platforms like JioMart and Milkbasket.Read more

About 1,500 students in the English-medium section of a Colaba municipal school have been shifted to virtual classes, following a BMC infrastructure team's ruling that two school buildings are structurally unsafe. While approximately 1,300 students from other language sections were relocated to nearby schools, English-medium students remain online due to lack of space. Parents and activists are urging phased demolition and interim solutions. Authorities continue exploring options, including rentals, amid mounting pressure to restore classrooms.Read more

The Brihanmumbai Municipal Corporation (BMC) is preparing to send a fresh recommendation to the state government on granting heritage status to Savarkar Sadan in Dadar, following a directive from the Bombay High Court. This development comes after it was revealed that earlier files related to the 2010 heritage tag proposal were destroyed in the 2012 Mantralaya fire. A PIL filed by Abhinav Bharat Congress raised concerns about possible redevelopment and the delay in heritage notification. The court has now stayed any construction on the site and has sought an affidavit from the civic body.Read more

Taj Lands End in Bandra has received the coastal authority's nod to expand its premises with two new restaurants on its third-floor terrace, one poolside cafe and another with a retractable roof. The additions will come up under the revised CRZ rules of 2019, which allow additional FSI. The development sits on the former Hotel Searock site, damaged in the 1993 blasts. IHCL is also rebuilding the Searock property and has plans for a second Taj hotel, Taj Bandstand, on an adjoining plot.Read more

Mumbai's civic body is planning to demolish the MTNL flyover in Goregaon to facilitate seamless connectivity between the upcoming Coastal Road (North) and the Goregaon-Mulund Link Road (GMLR). The flyover, linking Mindspace to Dindoshi Court, stands in the path of the planned transition to GMLR tunnels. While officials say the move will improve east-west mobility, locals and politicians are divided-some worry about worsening traffic, especially towards Malad and Marve, while others criticise the demolition of a functional, decade-old structure as poor planning. The controversy echoes the earlier removal of Bandra's skywalk for Metro Line 2B.Read more

The Bombay High Court has stayed the implementation of a 2023 Maharashtra government resolution that made it compulsory for all new building projects to include a telecom room to receive development permissions. The order came in response to a petition by the Maharashtra Chamber of Housing Industry (MCHI), which argued that such a rule required a formal amendment to the city's Development Plan and not just a government order. The court accepted this argument and clarified that such planning changes need to go through a legal and consultative process.Read more

The BMC has taken strict action against two Living Liquidz outlets in Kamala Mills for carrying out unauthorised structural modifications and operating without required fire safety approvals. The civic body demolished illegal extensions and cancelled their licences. This comes after inspections revealed that commercial premises meant for a tailoring shop and a garment store had been illegally turned into bar and wine shop operations. The crackdown is part of a wider enforcement drive in the Kamala Mills compound targeting several eateries for violations.Read more

MahaRERA recently pulled up a Mumbai-based real estate developer after homebuyers complained about being allotted parking spaces in a wing different from where their flats were located. Despite having paid for puzzle car parking slots, the buyers were not provided with marked or numbered spaces. When residents formed separate housing societies, access to the assigned parking was denied. MahaRERA deemed this a deficiency in service and ordered corrective action.Read more

Actor Aamir Khan has leased four luxury apartments in Mumbai's upscale Wilnomona building on Nargis Dutt Road, Pali Hill, at a reported monthly rent of INR 24.5 lakh. The five-year lease includes a 45-month lock-in and 5% annual rent escalation. He paid a security deposit of INR 1.46 crore, along with stamp duty and registration charges. The move comes as his existing residences in the Virgo Cooperative Housing Society undergo redevelopment by Atmosphere Realty (Wadhwa Group, MICL, Chandak Group). The upcoming tower is set to feature ultra-luxury, sea-facing units priced above INR 1 lakh/sq ft, with some expected to cross INR 100 crore.Read more