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The Brihanmumbai Municipal Corporation (BMC) recorded its highest-ever capital expenditure of INR 36,900 crore in FY 2024-25, reflecting a 57% surge from the previous year's outlay of INR 23,520 crore. This sharp jump in spending was primarily directed toward big-ticket infrastructure projects like the Goregaon-Mulund Link Road (GMLR), the Mumbai Coastal Road, and hospital redevelopment. Simultaneously, BMC's revenue income rose to a record INR 43,847 crore, backed by strong growth in property tax and development charges. Despite the robust financials, the civic body's fixed deposits saw a slight decline due to planned drawdowns to support its infrastructure commitments.Read more
The Supreme Court dismissed a special leave petition filed by the Airports Authority of India (AAI) against a Bombay High Court judgment that permitted increased building heights in a slum rehabilitation project in Chembur, Mumbai. The High Court had directed AAI to issue a No Objection Certificate (NOC) for the height clearance after an appellate committee had already approved the plan. AAI argued it would face hardships without reversing the HC verdict, but the apex court refused to interfere. The project involves 30 towers, including rehabilitation and free-sale buildings, developed under a joint venture.Read more
In a push to accelerate slum redevelopment across Maharashtra, the state cabinet approved key amendments to the Maharashtra Slum Area (Reform, Elimination and Rehabilitation) Act, 1971. The revisions shorten the timeline for submitting redevelopment proposals, empower authorities to reassign projects if deadlines are missed, and streamline land leasing for joint ventures in the Mumbai Metropolitan Region (MMR). New provisions will also address non-participation by slum dwellers and delayed rent payments by developers. These amendments aim to fast-track the state's goal of becoming slum-free while ensuring better enforcement and accountability in rehabilitation schemes.Read more
Welspun One Logistics Parks has secured financial closure for its INR 2,300 crore mega logistics park at Jawaharlal Nehru Port Authority's Special Economic Zone (JNPA SEZ) in Navi Mumbai. The project, spanning 110 acres, aims to develop 3.2 million square feet of Grade-A warehousing space. This initiative is set to enhance India's infrastructure landscape, leveraging JNPA's strategic location to facilitate efficient logistics and bolster economic growth.
The City and Industrial Development Corporation (CIDCO), acting as the Special Planning Authority (SPA) for Navi Mumbai, has withdrawn the allotment of 16 plots valued at around INR 2,000 crore. The decision targets developers and buyers who failed to initiate construction despite repeated deadline extensions and official warnings. These land parcels, meant for residential and commercial use, are located in prime nodes like Airoli, Nerul, Belapur, Kharghar, and Dronagiri. With Navi Mumbai's real estate prospects on the rise, CIDCO has indicated that further cancellations may follow, particularly for leased plots lying idle. Developer interest remains strong, as reflected by Godrej Properties Ltd's recent INR 717 crore lease deal for land in Kharghar.Read more
The Bombay High Court has stayed the handover of a plot on St Paul Road in Bandra (W) to the century-old Salsette Catholic Cooperative Housing Society after a dispute emerged over the sale of flats to non-Roman Catholic Christians. Justice Amit Borkar noted the potential for irreversible prejudice to the petitioners, who are heirs of the original lessee. The society, formed in 1918, had terminated a 998-year lease after flats in the redeveloped building were sold to non-Catholics. The HC will now hear the matter fully, questioning the relevance of religious restrictions under cooperative laws amid changing jurisprudence on equality and secularism.
In a landmark ruling, the Maharashtra Real Estate Appellate Tribunal (MREAT) has directed Wadhwa Constructions to register its Trade Centre project in Mumbai's Bandra Kurla Complex (BKC) with MahaRERA, citing the absence of a full Occupation Certificate (OC) despite partial OCs granted in 2008. The tribunal overturned MahaRERA's earlier exemption and imposed a penalty of INR 5 lakh, ordering registration within 60 days. This decision could significantly impact approximately 700 buildings in Mumbai holding only partial OCs, reinforcing that such projects are considered ongoing under RERA provisions.
The National Stock Exchange (NSE) has acquired an additional plot, C-82 in Bandra-Kurla Complex (BKC), Mumbai, for INR 758.09 crore from MMRDA to expand its operations. The newly allotted 5,500 sq. meter plot will support the construction of a 22,000 sq. meter built-up area. This move is part of NSE's broader plan to enhance its presence in Mumbai's financial hub and align with global regulatory standards. The expansion will include administrative offices and data centers, adding to the exchange's existing facilities at G Block, which houses NSE's headquarters and regulatory infrastructure.
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The BMC is seeking clearance to cut over 60,000 mangrove trees for the northward extension of Mumbai's Coastal Road project. This extension, covering approximately 9.6 km from Versova to Dahisar, is expected to ease traffic congestion in the western suburbs. While the BMC has pledged to replant mangroves and conduct compensatory afforestation, environmentalists have flagged serious concerns over ecological damage. The extension will connect major arterial roads like the Link Road, SV Road, and Western Express Highway, significantly reducing travel time for commuters in northwestern Mumbai.
The Commissioner of Metro Rail Safety has begun inspecting the 6-km BKC to Acharya Atre Chowk stretch of Mumbai Metro Line 3, marking the final step before commercial launch. This section, with six key stations including Dadar and Worli, is part of the 20-km Phase I corridor from Aarey to Acharya Atre Chowk. Safety checks cover structures, tracks, electrical systems, fire safety, and tunnel ventilation-including a complex tunnel under the Mithi River. Trial runs have been completed, but the launch date is yet to be announced. Once operational, the line will ease road traffic, boost connectivity in central Mumbai, and offer fares ranging from INR 10 to INR 60.Read more
The Mumbai Metropolitan Region Development Authority (MMRDA) has approved the allocation of a 3,400.59 sq. m. plot in Bandra-Kurla Complex (BKC) to the Maharashtra Pollution Control Board (MPCB) for the construction of its administrative building, Paryavaran Bhawan. The decision, made during MMRDA's 159th Authority Meeting, chaired by Deputy Chief Minister Shri Eknath Shinde, aligns with MMRDA's sustainable urban development goals. The lease, granted for 80 years, includes a lease premium of INR 468.60 crore. MPCB has been provided with a flexible payment schedule, allowing 25% of the premium to be paid within two months and the remaining 75% over ten months. The new administrative building aims to enhance MPCB's operational efficiency and strengthen Maharashtra's environmental governance.Read more
The proposed passenger jetty and terminal near Radio Club in Colaba, backed by a INR 229 crore allocation from Maharashtra Deputy Chief Minister Shri Ajit Pawar, has triggered strong resistance from local residents. Concerns revolve around the potential destruction of the 500-metre-long Gateway promenade, a heritage precinct listed under Mumbai's Development Control Regulations. Locals fear the project will disrupt the environmental and historical fabric of the area and worsen traffic congestion. An online petition titled 'Save Colaba: Stop the Jetty Project' has gained traction, while legal experts stress the necessity of complying with heritage preservation norms.
Mah-Hill Properties Pvt Ltd, a subsidiary of the Adani Group, has acquired a 48,491 sq ft plot along with a 257 sq m structure in South Mumbai's Carmichael Road area, Malabar Hill, for INR 170 crore, according to property registration records accessed by CRE Matrix. The seller, Behram Nowrosji Gamadia, transferred ownership of this pre-independence legacy asset on 27 March 2025. Stamp duty of INR 10.46 crore and a registration fee of INR 30,000 were paid. This rare transaction follows another high-profile sale last month, in which the Laxmi Nivas bungalow on Nepean Sea Road was sold for INR 276 crore to a firm linked to the Reliance Group.
Between April 2024 and March 2025, the Brihanmumbai Municipal Corporation (BMC) levied a 200% property tax penalty on 3,343 properties for unauthorised constructions, totalling INR 392.28 crore. The highest number of violations were recorded in Mumbai's western suburbs, followed by the island city and eastern suburbs, with H West ward leading. The crackdown aims to curb illegal alterations across all 25 wards. While legal proceedings often stall demolition, penalties are being enforced under Section 152(A) of the Mumbai Municipal Corporation Act, 1888. So far, INR 12 crore has been collected.
Japan's Sumitomo and a Brookfield-led consortium have emerged as the highest bidders for three premium land parcels auctioned by the Mumbai Metropolitan Region Development Authority (MMRDA) in Bandra Kurla Complex (BKC), raising over INR 3,839 crore. The bids significantly exceeded the reserve price of INR 2,973 crore set last year. Sumitomo won plots C-13 and C-19 with offers 39.61% and 40.20% above reserve rates, while a consortium including Schloss Bangalore secured plot C-80 at a 12.34% premium. The plots, located in BKC's G Block, will be leased for 80 years.
The Mumbai Metropolitan Region Development Authority (MMRDA) is advancing efforts to integrate the city's suburban rail and metro systems by constructing a network of foot overbridges (FOBs). These will connect suburban railway stations at Pant Nagar, Vikhroli, Bhandup, and Ram Mandir with metro lines, and also link key locations like Aarey Metro Station to Oberoi Mall and Goregaon (East) metro station to Nirlon Knowledge Park. A new FOB was opened in March between Devipada Metro Station and Oberoi Skycity Mall. MMRDA is also collaborating with the Walking Project in Vile Parle to enhance access to educational institutions as Metro Line 2B progresses. Estimated at INR 129 crore, these projects aim to improve multimodal travel across Mumbai.
Deputy Chief Minister Shri Eknath Shinde has directed the formation of a committee to identify land and formulate conditions for providing ownership homes to residents of the Bandra government colony. Spread over 125 acres, the colony includes 5,000 staff quarters and has long-awaited redevelopment plans. A delegation from the Government Quarters Residents' Association (GQRA) proposed 16 acres for 2,700 homes, offering to pay INR 200-250 crore at concessional rates. The move follows increased urgency after the Supreme Court's directive to allocate land to the Bombay High Court for a new complex.
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