Starting 1st May 2025, Mumbai International Airport will officially begin hand-carriage jewellery export operations, a major boost for India�s gem and jewellery trade. Enabled by CBIC Circular No. 09/2025-Customs, the move follows a successful mock drill involving key industry bodies and customs authorities. GJEPC Chairman Kirit Bhansali praised the initiative for simplifying logistics, especially for MSME exporters, and strengthening India's position as a global jewellery hub. A Standard Operating Procedure (SOP) will soon be issued to guide exporters. With a dedicated GJEPC office at the airport, the initiative promises greater flexibility, growth, and global reach for India's jewellery sector.Read more

The Brihanmumbai Municipal Corporation (BMC) has directed its officials to strictly enforce Supreme Court guidelines on unauthorized constructions, following criticism from the Bombay High Court over inaction in a 2021 Andheri case. The court had ordered demolition of the illegal building and disciplinary action against officials involved. In line with the Supreme Court's rules, the BMC will now hold officers accountable for issuing completion certificates to illegal structures, which cannot be regularized regardless of occupancy. This move marks a broader effort to tackle illegal construction in Mumbai and ensure lawful urban development by reinforcing accountability and adherence to planning norms.Read more

Industrial and warehousing demand in Mumbai and Pune declined sharply by 47% in Q1 2025, totaling 17 lakh square feet, according to Colliers India. Mumbai recorded 10 lakh square feet and Pune 7 lakh square feet, both significantly down from the previous year. Despite regional dips, overall demand across India's top eight cities grew by 15%, reaching 90 lakh square feet. Key drivers included engineering, e-commerce, 3PL, and automobile sectors. New supply rose to 94 lakh square feet, supported by institutional capital and robust infrastructure growth. The sector maintains its growth, fueled by favorable macroeconomic indicators and growing occupier confidence.Read more

The BMC has announced a landmark Town Hall Gymkhana project between CSMT and its heritage HQ, blending heritage revival with civic engagement. Planned on the Cannon and Carnac sports grounds, the complex will feature a public town hall, amphitheatre, glass-domed viewing gallery, restaurants, and five underground floors with parking and recreational spaces. For the first time, Mumbaikars will enjoy panoramic views of CSMT and Azad Maidan. Urban planners praise the project as a model for heritage-sensitive development. Tenders are out, and officials stress adherence to Fort precinct design norms. The initiative is expected to boost footfall and spur local redevelopment.Read more

The INR 160-crore Vidyavihar railway overbridge, linking LBS Marg and Ramkrishna Chemburkar Marg, is finally set for completion by mid-2026 after years of delays due to land and coordination issues. The 650-metre ROB, one of Mumbai's longest, will ease east-west congestion across the Kurla-Vidyavihar-Ghatkopar corridor. With RDSO approvals in place, the final deck will be launched by May 2024. Improved connectivity is expected to boost property values in Vidyavihar East by 8%-10%, spurring redevelopment. The project is part of BMC's larger push to modernize Mumbai's ROB network, with the Santacruz-Chembur Link Road extension next in line.Read more

Mumbai's western suburbs, particularly the Malad-Goregaon corridor, have emerged as key residential hotspots, capturing 41% of Greater Mumbai project launches this year. Driven by a shift towards holistic, wellness-focused living, these areas blend affordability with modern convenience, proximity to workspaces, and enhanced lifestyle amenities. Developments increasingly incorporate nature-centric designs and health-focused features, aligning with the preferences of today's urban homebuyers. With the state budget identifying Goregaon as a future economic growth hub, the region is witnessing robust demand from both first-time buyers and luxury seekers, solidifying its place as the new centre of aspirational living.Read more

In a landmark ruling, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) declared that a flat worth INR 2.6 crore received by an individual as compensation for vacating land during a redevelopment project is a non-taxable capital receipt. The case involved a legal settlement between the individual and a redeveloper over a South Mumbai property. Tax authorities had initially treated the flat's value as taxable income, but the ITAT overturned this view, citing the nature of the compensation as a resolution to a land-related nuisance, thereby excluding it from the individual's taxable income.Read more

Aamir Khan's residence in Mumbai's Pali Hill is being redeveloped into a luxury housing project by Atmosphere Realty, a joint venture between MICL, Wadhwa Group, and Chandak Group. The Virgo CHS, where Khan owns 12 flats, will be replaced with upscale 4 and 5 BHK sea-view apartments priced above INR 1 lakh per sq ft. Set for launch by December 2025, the project includes a rehab section for current residents. Khan recently bought another Pali Hill property worth over INR 9 crore. Despite a slowdown in the ultra-luxury segment, developers are confident in the project's success amid strong demand in premium locations.Read more

India's real estate sector attracted USD 26.7 billion in equity inflows between 2022 and 2024, with Mumbai leading at USD 6.9 billion, according to a CII-CBRE report. Delhi-NCR and Bengaluru followed, with the three metros accounting for 62% of total investments. Land and development sites drew the highest share at 44%, while built-up office assets secured 32%. Tier-II cities gained traction, attracting USD 3 billion, driven by industrial growth and infrastructure upgrades. Institutional investors contributed 33% of the capital. With strong fundamentals and ongoing reforms, the sector is poised for sustained growth, appealing to a diverse mix of global and domestic investors.Read more

Mumbai-based VC firm A91 Partners has closed its third fund at USD 665 million, reaffirming its focus on growth-stage investments in Indian startups across consumer, healthcare, financial services, and industrial sectors. Founded in 2018 by ex-Sequoia Capital India executives, the firm typically invests USD 50 million in expansion-ready ventures, with past bets on Digit Insurance, Atomberg, and Push Health. A91's latest fund signals investor confidence in India's long-term potential, despite recent funding slowdowns. The move aligns with a broader trend of successful VC fundraising, including Accel's USD 650 million Fund VIII and Stellaris USD 300 million fund, highlighting ongoing momentum in India's startup ecosystem.Read more

The Navi Mumbai Municipal Corporation (NMMC) undertook decisive action against unauthorized constructions in Nerul and Belapur. Despite prior notices, violators failed to comply, prompting demolition under the guidance of Commissioner Dr. Kailas Shinde. In Nerul, an illegal mezzanine structure was removed and an INR 10,000 fine was imposed. Similarly, 72 unauthorized huts behind the Sector-20 cemetery in Belapur were cleared. The operations were carried out with the support of engineering staff, laborers, machinery, and police.Read more

The Maharashtra State Archives has launched four heritage trail handbooks tracing colonial and local history from Bandra to Vasai. Led by director Dr. Rucha Deo, the project covers trails through Bandra, Andheri-Dahisar, Mira-Bhayandar, and Bassein, highlighting forts, churches, markets, and East Indian villages. Developed with support from institutions like St Xavier's College and JJ School of Architecture, the booklets include QR-mapped locations, architectural sketches, and oral histories. Officials aim to integrate these trails into tourism and educational initiatives, helping residents reconnect with Mumbai's overlooked suburban heritage. Digital editions are also planned to widen access and revive community interest.Read more

Mumbai will soon have its first dedicated bird park since Independence, with the state government approving BMC's INR 80 crore proposal to set up an aviary-themed public space in Mulund, near Sanjay Gandhi National Park. Spread over 4.4 acres in Nahur, the park will house 206 birds from 18 species-including ostriches, macaws, and hornbills-within a 10,859 sq m enclosure. The project aims to boost biodiversity awareness and recreation in the eastern suburbs. Construction is expected to begin later this year and finish by late 2026, easing pressure on Byculla Zoo and expanding public learning spaces.Read more

The Bombay High Court has directed the BMC to demolish an unauthorized community hall built by Akhil Bhatwadi Sarvajanik Utsav Mandal on a Ghatkopar plot reserved for a playground. The court found BMC and MHADA approvals invalid, ordered demolition within a week, and held civic officials accountable for inaction. It also criticized the trust's misuse of court injunctions and referred its lawyer to the Bar Council for misconduct. The court reaffirmed that reserved open spaces must be preserved, signaling strict enforcement of urban planning norms and a crackdown on illegal constructions that strain civic infrastructure.Read more

The underground bullet train station at Bandra-Kurla Complex (BKC) is 75% complete, marking key progress in the Mumbai-Ahmedabad high-speed rail project. Major construction activities, including raft casting and tunneling, are advancing steadily. Of the 21-km tunnel, 16 km will use Tunnel Boring Machines, with the rest built using NATM. Over 3,300 piles have been installed, and work on viaducts and bridges is ongoing across Maharashtra and Gujarat. The corridor is expected to significantly boost mobility in the Mumbai Metropolitan Region. Real estate activity in BKC is already heating up, with developers and investors anticipating a sharp rise in demand ahead of the project's planned 2028 completion.Read more

Akshay Kumar has sold an office space in Lower Parel, Mumbai for INR 8 crore, earning a 65% return on his 2020 purchase of INR 4.85 crore. Located in the upscale One Lodha Place project, the 1,146.88 sq ft office also included two parking spots. The deal, registered in April 2025, involved a stamp duty of INR 48 lakh. Earlier this year, he sold a Borivali flat and a luxury Worli apartment for impressive profits. His success highlights growing celebrity interest in commercial property, especially in prime areas like Lower Parel.Read more