Bollywood actor Jeetendra Kapoor and daughter Ekta Kapoor have sold their apartment in Mumbai's Omkar 1973 Worli project for INR 12.25 crore, or about INR 57,000 per square foot. The 2,149 sq ft flat includes two parking spaces and was officially registered on June 8, 2025. The Kapoors had bought it in 2017 for INR 11.52 crore. Omkar 1973 is a luxury residential project that has faced legal hurdles, including a stay order on new flat sales due to pending rent disputes with displaced residents. Despite this, resale activity continues. As of late 2021, less than half of the project's 136 launched apartments have been booked.Read more

In a big push towards digitisation, Navi Mumbai's civic body has rolled out new initiatives that helped collect INR 212 crore in property tax in just three months. Under Dr. Kailash Shinde's leadership, the campaign used digital payment methods, a WhatsApp chatbot, and a revamped online portal to make payments easier. A unique touch: 200 women from self-help groups were trained to deliver bills and update records, boosting local employment. Over half the bills reached homes in just 30 days, encouraging early payments with a 10% discount. With SMS alerts, widespread publicity, and multiple payment options, NMMC is making tax payments simpler and more transparent.Read more

Maharashtra's top property markets, Mumbai, Thane, Navi Mumbai, and Pune, saw steep declines in home sales and new launches in Q2 2025, marking a sharp market correction. Mumbai and Thane both reported a 34% drop in sales, with new supply falling by over 50%. Pune sales fell 27%, while Navi Mumbai dipped 17%. In contrast, Delhi NCR and Chennai showed growth. Analysts attribute Maharashtra's slump to past price surges, economic caution, and buyer wait-and-watch sentiment ahead of the festive season. Despite the dip, developers remain upbeat, viewing the slowdown as a step toward sustainable growth, price stability, and improved market health.Read more

The BMC has leased an 8,116 sq. m land parcel near Crawford Market, home to the Chhatrapati Shivaji Maharaj Market, for INR 369 crore-13% below the base price of INR 428 crore. Awarded to AAV Developers LLP for 30 years, the deal includes provisions for public infrastructure like a staircase, lift, and escalators for a planned foot over-bridge linking CSMT station to Mahatma Jyotiba Phule Mandai. Despite concerns over public utility and limited bidding-only two offers were received-the sale is part of BMC's strategy to ease financial pressure from infrastructure liabilities, which now exceed INR 2 lakh crore.Read more

JP Morgan has signed a 10-year lease for 1.16 lakh sq. ft. of office space in a newly built tower at Mumbai's Bandra Kurla Complex (BKC), developed by Sumitomo's Goisu Realty. The deal, valued at INR 6.91 crore in monthly rent with 15% escalations every three years, includes a INR 62.23 crore security deposit. The new space, spanning two floors, will serve as the bank's front office from October 2026. BKC, a key BFSI hub, continues to attract top firms-Tesla also recently leased showroom space nearby. Sumitomo is expanding rapidly in Mumbai, with major property acquisitions in Worli and Lower Parel.Read more

The Navi Mumbai Municipal Corporation (NMMC) recently undertook demolition drives targeting unauthorised constructions in the Koparkhairane and Airoli regions. Despite prior notices under Section 54 of the Maharashtra Regional and Town Planning Act, 1966, several individuals continued illegal construction activities without obtaining approvals. Under the directives of the Commissioner and senior civic officials, the encroachment department executed partial demolitions with the support of municipal staff and police personnel. The operations involved mechanical tools, labourers, and tight security deployment.Read more

The Navi Mumbai Municipal Corporation (NMMC) has identified 2,111 buildings that have failed to obtain mandatory occupancy certificates (OCs), despite having received commencement approvals. This list, published in compliance with a Bombay High Court directive, has been made publicly accessible via the NMMC website and ward offices. Developers and occupants have been asked to immediately approach the Town Planning Department to regularise their status. Failure to act could attract penalties under the Maharashtra Regional and Town Planning Act, 1966. The move is part of a broader drive to enhance building compliance and ensure residential safety across Navi Mumbai's expanding urban landscape.Read more

The BMC has opened public consultation on a draft regulation (33(27)) to define and incentivise "iconic buildings" under Mumbai's DCPR 2034. Eligible structures must display standout design, scale, or architectural vision. Developers may receive FSI relaxations by paying a premium up to 50% of land value, split between BMC and the state. A high-powered committee, chaired by the Municipal Commissioner and including global and Indian experts, will vet proposals. Public scrutiny of designs is encouraged. The draft mandates non-residential use, 18 m road access, and public plazas. The move echoes Mumbai's legacy of iconic architecture, aiming to blend innovation with heritage-conscious development.Read more

The Maharashtra government has allocated 30 acres in Bandra East's government colony for the new Bombay High Court complex, addressing severe space constraints at the existing 1878 Fort premises. Architect Hafeez Contractor will design the facility, featuring 75 courtrooms, judge residences, lawyers' chambers, archives, and amenities like daycare and parking. The move follows Supreme Court directives and a 2019 ruling, with phased handovers already underway. The broader 90-acre site will also host up to twelve 16-storey towers for civil servant housing and revenue-generating residential sales. The current Fort building, originally meant for 15 judges, now struggles to house 35 in overcrowded conditions.Read more

Indian cricketer Shivam Dube has purchased two luxury apartments worth INR 27.5 crore in DLH Enclave, Oshiwara, Mumbai-spanning over 9,600 sq ft, including a 3,800 sq ft balcony. The deal was registered earlier this month with a INR 1.68 crore stamp duty. DLH Enclave is an ultra-premium complex, home to celebrities like Kapil Sharma and the late Irrfan Khan. The Oshiwara-Lokhandwala belt is a long-standing hub for entertainment industry professionals, known for upscale projects like Windsor Grand and Raheja Classic. With major redevelopment underway, led by builders like Puravankara and Rustomjee, the area is rapidly transforming into a modern luxury residential hotspot.Read more

MMRDA has launched a INR 325 crore programme to upgrade rural roads across ten villages in Alibaug, following its recent appointment as the region's planning authority. The plan includes cement-concrete resurfacing on key stretches connecting villages to Alibaug's town centre. With tenders issued for detailed design and management, on-ground construction is slated to begin soon. This initiative forms part of a wider connectivity vision including multimodal corridors and ring-road projects that aims to improve access and boost land and tourism value in Alibaug and adjacent areas.Read more

The Navi Mumbai Municipal Corporation (NMMC) has carried out a demolition drive in the Ghansoli area against unauthorised constructions, which continued despite prior notices issued under Section 54 of the Maharashtra Regional and Town Planning Act, 1966. The demolition was ordered by the civic chief and executed under the supervision of senior officials. RCC structures rising up to four storeys were razed as they lacked necessary permissions. Officials have signalled a stricter crackdown on future violations across the region.Read more

The Bombay High Court has struck down Section 17(2) of Goa's Town and Country Planning (TCP) Act, criticising unchecked land-use conversions in Bardez taluka, including Calangute and Candolim. Between March 2023 and early 2024, over 353 approvals reclassified 2.65 million sqm of orchards and paddy fields into settlement zones-bypassing planning norms and public scrutiny. The court called the move 'disastrous,' highlighting systemic failures in Goa's urban planning. This follows past judicial interventions halting Outline Development Plans and the 2021 Regional Plan notification. While the Goa government has appealed the decision, the ruling marks a win for civic groups seeking transparent, eco-sensitive development.Read more

Mumbai, long regarded as India's most expensive housing market, has witnessed a slight improvement in affordability for the first time, following a cumulative 100 basis point reduction in the RBI's repo rate since February. Knight Frank India's latest Affordability Index reveals Mumbai's EMI-to-income ratio dropped to 48%, just below the 50% unaffordability threshold. While affordability improved across most major cities, Delhi-NCR saw a minor dip, and Bengaluru and Hyderabad remained unchanged. Experts believe the softer home loan rates will boost buyer sentiment and potentially drive up sales.Read more