Mumbai's ultra-luxury housing segment witnessed a historic rise in the first half of 2025, with sales of homes priced at INR 10 crore and above touching a record INR 14,751 crore, a 20% jump over the same period last year. According to a joint report by India Sotheby's International Realty (ISIR) and CRE Matrix, this surge was led by robust demand in affluent neighbourhoods like Worli, Prabhadevi, and Malabar Hill. Primary market sales dominated both volume and value, indicating buyers' preference for newly built, well-amenitized luxury properties.Read more

Nisus Finance Services has committed an investment of INR 115 crore through its Real Estate Special Opportunities Fund-I (RESO-I) into Kumar Vibe Properties Pvt Ltd a joint venture between Kumar Properties and Vibe Realty. The capital will fund three real estate developments: two society redevelopment projects in Khar and Goregaon (Mumbai), and a large-scale premium housing project in NIBM, Pune. Together, these projects hold a topline revenue potential of over INR 1100 crore, with Pune's project alone expected to deliver over 750 residential units. This move strengthens RESO-I's focus on de-risked, cashflow-positive urban projects.Read more

As property prices and inventory saturation rise in Andheri, Goregaon, and Malad, Mumbai's homebuyers and investors are steadily shifting towards northern western suburbs such as Kandivali, Borivali, Mira Road, and Vasai-Virar. These locations now offer relatively affordable rates, improved infrastructure, and enhanced connectivity through metro expansion and road development. The demand is being driven primarily by mid-income and upwardly mobile buyers aged 25-44, with developers responding through modern gated communities featuring green spaces and lifestyle amenities. Market indicators show that these micro-markets are witnessing robust housing sales and price appreciation despite fewer new launches.Read more

A CAG audit has uncovered serious lapses in Mumbai's building safety oversight, highlighting that only one of eight city divisions submitted a list of dilapidated structures. Even that list-from Kalachowki-was flawed, with 76 of 248 buildings already redeveloped or demolished. The report criticizes the Brihanmumbai Municipal Corporation (BMC) and MHADA's Mumbai Building Repairs and Reconstruction Board (MBR&RB) for failing to identify dangerous cessed buildings and relying on superficial inspections over structural audits. The MHADA Act mandates rigorous monitoring of these aging structures. In response, the government has directed MHADA engineers to obtain accurate building data from local ward offices to improve safety oversight.Read more

The Navi Mumbai Municipal Corporation (NMMC) has taken decisive action against unauthorised constructions in Belapur, following non-compliance with prior demolition notices. Structures owned by Suresh Dharma Koli, Balkrishna Dharma Koli, and Ashok Koli in Diwale village were razed under the MRTP Act. The operation, led by the encroachment department under senior civic officials, involved a full deployment of manpower and equipment. NMMC has indicated that such intensified action will continue to deter encroachments in future.Read more

A recent Comptroller and Auditor General (CAG) report has revealed that 40 private developers in Mumbai collectively owe INR 261.14 crore to MHADA for transit tenements provided during redevelopment projects spanning 25 years. These temporary housing units were meant for residents displaced from old or slum structures, with developers required to pay advance rent and a security deposit. Of the 43 developers allotted 3,357 transit units, only three have cleared dues. The report highlights ongoing financial irregularities and poor compliance in Mumbai's real estate sector.Read more

Mumbai's real estate and infrastructure landscape is set for a major upgrade with the Santacruz-Chembur Link Road (SCLR) extension nearing completion. Scheduled to open in July 2025, the final phase includes a striking 90-degree cable-stayed bridge over the Western Express Highway, creating a seamless, signal-free east-west route. Led by MMRDA, the project will ease congestion across Kurla, Chembur, Kalina, and BKC, and improve access to Mumbai Airport. Real estate interest, especially in Chembur, is rising, echoing past price surges seen after earlier infrastructure rollouts. The extension is expected to boost connectivity, reduce travel time, and enhance overall urban liveability.Read more

Maharashtra's cabinet recently greenlit a INR 36,000 crore state guarantee to help the Mumbai Metropolitan Region Development Authority (MMRDA) secure loans from international lenders. This move paves the way for Lines 5, 6, 9, 10, 11 and a 3.3 km underground extension of Line 7 to glide ahead, with elevated and underground sections in play. While the state acts only as guarantor, MMRDA will manage full repayment, including interest. The guarantee ensures smooth tendering and shields against delays or cost overruns. Ultimately, this step drives the vision for a 300?km metro network aimed at de-congesting suburbs and linking key areas like the airport.Read more

Ashwin Sheth Group has acquired development rights for a four-acre land parcel in Goregaon West, Mumbai, with an estimated revenue potential of INR 3,800 crore. The project, spanning approximately 12 lakh sq ft of RERA carpet area, is set to rise on land owned by MHADA and includes tenant rehabilitation. The rights were secured after a re-tendering process, following a failed earlier agreement with a previous builder. Goregaon West remains a hot real estate zone with over INR 1,961 crore in sales last year, driven by strong connectivity and Metro Line 2A. Ashwin Sheth Group currently has over 7 million sq ft under development.Read more

Ravi Agarwal, chairman of Lloyd Realty, along with Lloyd Group chairman Babulal Agarwal, has purchased six ultra-premium apartments in Kalpataru Prive, a high-end residential tower located on Altamount Road in South Mumbai. The transaction, valued at INR 227 crore, involves units spanning the 18th to 23rd floors with a total carpet area of 17,908 sq ft, at a rate of INR 1.26 lakh per sq ft. The deal also includes 24 car parking spaces.Read more

The Navi Mumbai Municipal Corporation (NMMC) undertook a major demolition initiative targeting unauthorised constructions in Nerul, Airoli, and Belapur. Despite prior notices issued under the Maharashtra Regional and Town Planning Act, 1966, many offenders failed to remove illegal structures. The drive, executed under directives from the municipal commissioner and senior officials, resulted in partial and complete demolition of illegal extensions. Equipment including gas cutters, hammers, and labourers were deployed, and a penalty of INR 50,000 was collected during the operation in Airoli. The civic body has indicated its commitment to continuing such stringent enforcement efforts.Read more

Navi Mumbai has been honoured with entry into the prestigious 'Super Swachh League' under Swachh Survekshan 2024, recognising cities that ranked in the top three at least twice over the past three years. It is the only city from Maharashtra with a population over 10 lakh to receive this recognition. The city also retained its 'Seven Star' garbage-free rating and top-tier 'Water Plus' certification. Navi Mumbai's smart, decentralised waste management system, inclusive workforce, and eco-friendly initiatives have set national benchmarks. The award was accepted by civic leaders and sanitation workers in New Delhi, marking a proud moment for the city and state.Read more

In a significant financial achievement, Mumbai's civic administration has for the first time collected INR 269 crore in property tax from businesses operating within slum areas. This groundbreaking collection, stemming from the current fiscal year, marks a notable success in the Brihanmumbai Municipal Corporation's (BMC) efforts to tap into previously unassessed revenue streams. The initiative targets commercial establishments in informal settlements, which had largely remained outside the property tax net, and is part of a broader drive to formalize and bring more properties across the bustling city under taxation.Read more

Mr. Aditya N. Shah, Director of Mayfair Housing.

Mira Road has evolved from a peripheral suburb into a fast-developing luxury real estate destination, attracting homebuyers and investors seeking premium living at more reasonable rates than central Mumbai. Backed by improved infrastructure, expansive residential projects, and growing connectivity via highways and the metro, the area now combines affordability with sophistication. Its strategic location, proximity to IT parks, and inclusion in upcoming developments like the Mumbai-Ahmedabad bullet train and coastal road extension have significantly raised its desirability. Mira Road is now emerging as a prime residential zone with strong growth prospects and superior value for investment.Read more

Indian Hotels Company Ltd (IHCL), part of the Tata Group, has invested over INR 165 crore in its subsidiary ELEL Hotel and Investment Ltd to support the development of the upcoming Taj Bandstand hotel in Mumbai. The capital infusion involved acquiring more than 3.3 lakh equity shares through a rights issue, with each share priced at INR 5,000. ELEL holds leasehold rights to the iconic Bandstand land parcel in Bandra, where the new luxury property will be built. This move highlights IHCL's focus on expanding its premium hotel footprint in major cities and reinforces its long-term commitment to luxury hospitality in top-tier urban locations.Read more

DLF Ltd, India's largest real estate company by market capitalization, has re-entered the Mumbai residential market with a luxury housing project named Westpark in Andheri (West). Developed under the Slum Rehabilitation Authority (SRA) scheme in partnership with Trident Group, the project involves an investment of INR 900 crore. The total expected revenue from the project is pegged at INR 2,300 crore.Read more