A public notice regarding the land acquisition for the Sahitya Ratna Annabhau Sathe research and training center has been issued in the Mumbai Suburban District. While the acquisition aims to establish a space dedicated to preserving and promoting Sathe's legacy, concerns over its impact on local communities have emerged. The project also raises questions about the broader implications for urban redevelopment in Mumbai and the social and economic changes that may follow. The public is invited to submit objections or complaints within 30 days.Read more

The NCLT Mumbai has approved the merger of Kingmaker Developers (KDPL) with Real Gem Buildtech (RGBPL), marking a strategic consolidation for Keystone Realtors. KDPL acquired 100% of RGBPL for INR 231.42 crore under a share purchase agreement with DB Realty on November 6, 2023. Following the merger, RGBPL will become a wholly-owned subsidiary of Keystone Realtors, replacing KDPL. The move aligns with the industry trend of mergers to enhance market presence. With the real estate sector recovering, Keystone aims to leverage RGBPL's projects and expertise to strengthen its position and drive growth.Read more

Bollywood director Subhash Ghai and his wife Mukta Ghai have purchased a luxurious 4 BHK apartment in the 81 Aureate project, located in Bandra West, Mumbai, for INR 24 crore. The 4,364 sq. ft. apartment features a built-up area of 5,239 sq. ft. and comes with three car parking spaces. The transaction included a stamp duty of INR 1.44 crore and registration charges of INR 30,000. The project has witnessed several transactions, amounting to a total value of INR 76 crore between February 2024 and January 2025. The growing popularity of luxury real estate in Mumbai, especially among Bollywood personalities, is contributing to rising property prices in the area.Read more

Sunny Leone, actress and entrepreneur, has expanded her business portfolio by purchasing an office space for INR 8 crore in Veer Signature, a premium commercial project in Oshiwara, Mumbai. The property spans 1,905 sq ft of carpet area and includes three parking spaces, with a stamp duty payment of INR 35.01 lakh and registration fees of INR 30,000. Registered in February 2025, the office was acquired from Aishwarya Property and Estates. Veer Signature has attracted Bollywood stars like Amitabh Bachchan and Ajay Devgn, reflecting the growing trend of celebrity investments in Mumbai's commercial real estate.Read more

The Brihanmumbai Municipal Corporation (BMC) has sought clarity from the Mumbai Metropolitan Region Development Authority (MMRDA) regarding an INR 550 crore unpaid property tax linked to J Kumar Infraprojects Limited. The dispute arises from seven plots allocated by MMRDA for metro construction casting yards and ready-mix concrete plants. While Clause 2.7 of the tender indicates that MMRDA is responsible for property tax, lease agreement Condition 5 assigns the liability to J Kumar Infraprojects. The contractor insists MMRDA must pay, while MMRDA maintains the tax burden rests with the contractor. The resolution of this issue is crucial as BMC pursues its INR 6,200 crore property tax target.Read more

Mumbai's real estate market is on a growth trajectory, with 2025 poised to be a pivotal year for property investments. Key locations such as Mulund, Borivali, Malad-Goregaon, Panvel, Chembur, and Sion are emerging as prime investment destinations. Industry experts highlight factors such as improved connectivity, robust infrastructure, and evolving buyer preferences that contribute to their appeal. From Mulund's luxury living and Borivali's green surroundings to Panvel's affordability and Sion's central connectivity, each area offers unique advantages. These developments indicate a promising future for both investors and homebuyers seeking growth and value in Mumbai's dynamic real estate sector.Read more

The Brihanmumbai Municipal Corporation (BMC) is introducing a digital system to manage and track unauthorized construction complaints, enhancing transparency and efficiency. The platform will integrate data from Property Tax, Legal, and Building Proposal departments, allowing citizens to verify if a building or flat has illegal modifications. The new web and mobile applications will enable faster verification of approved plans, reducing delays in complaint resolution. Additionally, legal case tracking and automatic fine integration with property tax will improve enforcement. The system, expected to launch soon, aims to streamline complaint handling and strengthen action against unauthorized constructions in Mumbai.Read more

Panasonic Life Solutions India Private Limited has acquired a 6,586 sq. meter land parcel in Andheri East, Mumbai, worth INR 160 crore, according to property registration documents. The transaction, registered on January 29, 2025, included a stamp duty of INR 9.60 crore and a registration fee of INR 30,000. The land was purchased from River Rose Developers LLP. Andheri East is a major commercial and residential hub, well-connected to key transport links, and home to a thriving business ecosystem. Over the past year, the area saw strong property sales and rental demand. The acquisition signals Panasonic's commitment to India's growth, especially in Mumbai.Read more

Arkade Developers has acquired a four-acre land parcel in Goregaon West, Mumbai, from Aspen Properties and their joint venture partners, Kamanwala Housing Construction, for a total consideration of INR 165 crore. The company has paid INR 9.9 crore in stamp duty for the acquisition. The land is currently leased to Filmistan and is expected to yield over five lakh sq ft of saleable area, generating an estimated revenue of INR 2,000 crore. Additionally, the company has expanded its presence in Western Mumbai with three redevelopment projects in Andheri East, Malad West, and Borivali West, collectively spanning approximately five acres and anticipated to generate INR 2,150 crore in turnover. Arkade Developers also reported a 24% increase in sales bookings and a 16% growth in collections over the past nine months.Read more

To ease overcrowding at Byculla Zoo, the Brihanmumbai Municipal Corporation (BMC) plans to establish a bird park in Mulund West. The proposed INR 100 crore facility, spanning four acres, has received provisional approval from the Central Zoo Authority (CZA) and is pending state approval. Designed as an extension of Byculla Zoo, it will house 24 exotic bird species, including black swans, macaws, ostriches, and hornbills. The park will feature themed enclosures, an educational space, and a dedicated healthcare facility for birds. This initiative aims to enhance urban wildlife management, promote avian conservation, and support eco-tourism in Mumbai.Read more

The Mumbai Metropolitan Region Development Authority (MMRDA) has entered into a significant partnership with Brookfield, a renowned global investment firm, to accelerate infrastructure development in the Mumbai Metropolitan Region (MMR). This collaboration aims to transform MMR into a Global Economic Hub within the next five to seven years. The MoU, facilitated by MMRDA Metropolitan Commissioner Dr. Sanjay Mukherjee, has secured an unprecedented Foreign Direct Investment (FDI) of USD 12 billion (INR 103,800 crore). Additionally, MMRDA's participation in the World Economic Forum (WEF) Annual Summit in Davos has resulted in further MoUs amounting to USD 40 billion. The agreement prioritises Metro projects, urban infrastructure, and sustainable development, supporting Maharashtra's vision of achieving a USD 1 trillion economy while contributing to India's USD 5 trillion economic target.Read more

Cricketer Rohit Sharma and his father, Gurunath Sharma, have rented out their 1,298 sq ft apartment in Lodha Marquise, Lower Parel, for INR 2.6 lakh per month. The lease, registered on January 27, was signed with businessman Murali Krishnan Nair and includes two parking spaces. Sharma bought the property for INR 5.45 crore in 2013 and has been expanding his real estate portfolio, leasing two Bandra apartments in January 2024 for INR 3 lakh monthly. His strategic investments reflect Mumbai's rising rental demand in luxury housing, with celebrity transactions influencing market trends in prime locations.Read more

Wankhede Stadium, an iconic landmark in Indian cricket, recently celebrated its 50th anniversary with a grand event hosted by the Mumbai Cricket Association (MCA). Sponsored by Sugee Group, the evening was filled with nostalgia and performances by renowned artists, accompanied by a spectacular laser show. The event brought together cricketing legends, including Sunil Gavaskar, Sachin Tendulkar, Rohit Sharma, and Ajinkya Rahane, to honour the stadium's historic legacy. Groundsmen and support staff were also recognised for their contributions. The occasion reinforced Mumbai's cricketing heritage and its continued role in shaping future generations of players.Read more

Bollywood director Subhash Ghai and his wife, Mukta Ghai, sold their 1,760 sq. ft. apartment in Andheri West's Rustomjee Elita for INR 12.85 crore on January 22, 2025. Purchased in 2016 for INR 8.72 crore, the sale reflects a 47% appreciation. The property fetched INR 72,000 per sq. ft., exceeding Andheri's premium rates of INR 65,000 per sq. ft. This transaction aligns with Mumbai's luxury housing boom, following recent high-profile sales like Amitabh Bachchan's INR 83 crore Andheri duplex and Akshay Kumar's INR 4.25 crore Borivali flat. Improved infrastructure and surging demand for high-end properties continue to bolster Mumbai's real estate market.Read more

In an ongoing effort to enhance Navi Mumbai's cleanliness, Municipal Commissioner Dr. Kailash Shinde recently led an extensive cleanliness campaign across the city's eight divisions. Special attention was given to minimising air pollution by clearing accumulated dust from roads, footpaths, and dividers. Dr. Shinde personally conducted an unannounced inspection of the Airoli division, travelling by bicycle to assess the ground reality more effectively. During his visit, he issued directives to improve cleanliness, remove encroachments, and enhance green spaces. Senior officials from various departments accompanied him, ensuring swift implementation of his instructions.Read more