Reliance Industries Limited (RIL) is launching a massive project to create a global economic hub in Navi Mumbai, covering 3,750 acres. Secured through a sub-lease for INR 13,400 crore, this development aims to decongest Mumbai and create a parallel economic engine. RIL plans to leverage its expertise in large-scale industrial projects to build a world-class facility focused on integrated digital services. The project will foster innovation, collaboration, and job creation, transforming Navi Mumbai into a thriving economic and industrial centre with advanced infrastructure and improved connectivity, especially with the new Mumbai Trans Harbour Link.Read more

Vashi, a prominent residential and commercial hub in Navi Mumbai, offers well-organized infrastructure, diverse housing options, and excellent connectivity to Mumbai and other regions. The area is equipped with top-notch educational institutions, healthcare facilities, shopping malls, and recreational spaces, making it a self-sustaining neighborhood. In April, top-selling buildings like Prem Sagar CHS and Goodwill Mansion highlighted Vashi's thriving real estate market, with transactions dominated by developer sales. Catering to various budgets, Vashi provides both luxury apartments and budget-friendly options. Its strategic location and robust amenities make it an attractive destination for homebuyers and businesses alike.Read more

The Navi Mumbai Municipal Corporation (NMMC) has made structural audits by certified auditors mandatory for housing societies and commercial units over 30 years old before any repair work. This is as per the unified development regulations and Maharashtra Regional and Town Planning Act of 1966. NMMC recently identified 528 structures as unsafe after surveying the city. However, residents have raised concerns that audits will be misused to declare buildings dilapidated and will be sent for redevelopment. They argue that well-maintained buildings can last longer than 30 years. There are also allegations of nexus between officials, builders and ex-corporators wanting to profit from redevelopment. However, NMMC has clarified that the step is necessary given the history of collapse of unsafe structures.Read more

The Maharashtra State Human Rights Commission has summoned senior officials from the Navi Mumbai Municipal Corporation, City and Industrial Development Corporation, and State Chief Secretary to address concerns about rampant encroachment on protected Belapur Hill areas. Environmental activists formed a human chain to raise awareness about unchecked illegal construction that threatens the environment and increases landslide risks. Residents say the issue has been ongoing for nine years without proper action. The Commission observed that authorities pass responsibilities instead of taking action and directed the Chief Secretary to determine accountability. In response to a complaint, the Chief Minister has also ordered an investigation into an alleged land grab racket involving constructions without approvals.Read more

Nerul, situated in Maharashtra's Navi Mumbai region, has become a sought-after destination for homebuyers and businesses due to its well-planned infrastructure and excellent connectivity. Boasting a variety of housing options, including high-rise apartments and gated communities, Nerul caters to diverse preferences and budgets. The area is self-sufficient with top-notch educational institutions, healthcare facilities, and recreational spaces. In April, '19 East' emerged as the top-selling building. Developer sales dominated transactions, showcasing Nerul's appeal across different segments. With apartment sizes ranging from 243 to 2,782 square feet, Nerul caters to individuals and families alike. The surge in real estate activity underscores Nerul's status as a thriving hub, offering modern urban living with convenience and comfort.Read more

DP World, a global logistics leader, has leased 150,000 square feet of office space in the prestigious Aurum @ Parc development in Navi Mumbai's Ghansoli locality. This lease agreement, spanning five years with a three-year lock-in period, marks DP World's strategic expansion in India. The new office will house their fourth Global Capability Center (GCC) in the country, reflecting India's growing importance in DP World's global operations. With India's logistics market projected to reach USD 320 billion by 2025, DP World's investment aligns with their expansion plans, which include developing port facilities and significant capital expenditure. The arrival of DP World in Navi Mumbai is expected to generate employment opportunities and establish the city as a major logistics hub in India.Read more

PNT Reporter

The state government approved CIDCO's redevelopment policy for dilapidated buildings in NAINA, granting a 30% extra area. Villagers demand 2.5 FSI for feasibility. The policy applies to 94 villages in NAINA, covering 225.59 sq km, particularly those with Town Planning Schemes ready. Residents of dilapidated or 30-year-old buildings will benefit, with either extra FSI or additional construction area without premium. NPBSUS opposes the policy, advocating for 2.5 FSI and implementation of Unified Development Control and Promotion Regulations (UDCPR). Panvel MLA Prashant Thakur supports the decision, citing safety concerns for residents. The debate continues between government initiatives and villagers' demands for sustainable redevelopment.Read more

PNT Reporter

In a decisive move, the Bombay High Court has instructed the Navi Mumbai Municipal Corporation (NMMC) to dismantle an unauthorised structure situated on CIDCO land within the span of eight weeks. The court firmly dismissed any possibility of regularisation through fines or compensation, emphasising the paramount importance of private interests aligning with the public good. Identified as belonging to Ishwar Mavji Patel, the structure's illegal status underscores the necessity for strict adherence to legal regulations governing land usage and construction in the region.Read more

PNT Reporter

Google is set to acquire a vast 22.5-acre plot in Navi Mumbai for INR 850 crores, signaling its plan to establish its inaugural captive data centre in India. Unlike leased facilities, this centre would be wholly owned and operated by Google, ensuring enhanced data security and service reliability. Strategically located, Navi Mumbai offers robust connectivity to major global hubs, making it an ideal choice. With India's digital growth surging, driven by factors like 5G and e-commerce, Google's investment underscores its commitment to meet the nation's escalating data demands. This move aligns with industry trends as tech giants vie to tap into India's burgeoning market, cementing their position in the global data centre arena.Read more

The Bombay High Court has delivered a decisive verdict in favour of developers Godrej Properties and Shelton Infrastructure, allowing them to retain plots in Sanpada, Navi Mumbai, originally allocated by CIDCO. The dispute arose when CIDCO sought to revoke the allotments, citing concerns over potential financial losses. However, the High Court deemed CIDCO's actions arbitrary and discriminatory, emphasizing the developers' right to equality before the law. Represented by seasoned legal counsels, the developers argued vehemently against the cancellations, leading to a landmark ruling reinforcing the importance of due process and legal diligence in matters of public land allocation and development.Read more

CREDAI-MCHI, in collaboration with CIDCO, organized a workshop on an amnesty scheme for Navi Mumbai residents, addressing Maveja and Additional Lease Premium (ALP) issues. Chief Minister Eknath Shinde's directive to delink CIDCO permissions from pending dues is expected to benefit over 1,000 housing societies. Five key concerns were identified, leading to a committee chaired by Ex-chief secretary Shri Sanjay Kumar to address challenges. The government accepted most recommendations, separating Maveja/ALP recovery from occupancy certificates issuance. A 50% amnesty on payable amounts until March 31, 2023, under the Abhay Yojana, aids projects facing delays. These efforts align with CREDAI-MCHI's commitment to fostering sustainable development in the Mumbai Metropolitan Region.Read more

CIDCO has announced a significant INR 6 lakh reduction in the prices of tenements in its Bamandongri project, focusing on economically weaker sections under the Mass Housing Scheme Diwali-2022. The move aims to lower the original flat price from INR 35.30 lakh to INR 29.50 lakh, with additional reductions to INR 27 lakh for successful applicants from the economically weaker sections category. Chief Minister Eknath Shinde commended CIDCO for addressing financial challenges and facilitating affordable housing, emphasizing the government's commitment to inclusive urban development in Navi Mumbai.Read more

Navi Mumbai Municipal Corporation (NMMC) excelled in property tax collection by collecting Rs 465.70 crore in the first nine months of the fiscal year 2023–24, a significant rise from the previous year. This success is credited to strategic planning and the dedicated efforts of officials, notably Additional Commissioner Sujata Dhole. The NMMC aims to collect Rs 800 crore by the end of this fiscal year. Chief Rajesh Narvekar emphasizes the recovery of arrears, leveraging data, and conducting a LiDAR survey. The achievement reflects sound financial management, affirming the NMMC's commitment to fiscal responsibility and sustaining economic growth in Navi Mumbai's industrial sector.Read more

A plot on Navi Mumbai's Palm Beach Road sets a record with a bid of Rs.6.46 lakh per sqm, mirroring the intense demand for land in the area. However, 18 CIDCO plots received no bids, attributed to high base prices and market conditions. The record bid highlights the scarcity of land in the prime location, leading to the substantial price surge. CIDCO earned Rs.1,170.80 crore from the sale, but the lack of interest in other plots raises concerns. Industry experts criticise CIDCO for escalating base prices and suggest adjustments to encourage a more balanced and competitive market.Read more

ICICI Securities, the financial services arm of ICICI Bank, secures over 188,000 square feet of office space in Mindspace Juinagar, Navi Mumbai, through a 12-year lease. The deal with Newfound Properties & Leasing entails monthly rentals of Rs 92.15 lakh, escalating 4% annually. Commencing on January 1, 2024, the lease includes exclusive access to 190 parking slots. The BFSI sector's rising office space demand, outpacing IT, is evident in this notable transaction, showcasing sustained growth in India's 2023 office sector. Despite global challenges, the year stands to surpass the 2017–2019 average in office leasing activity in India.Read more

Over the last five years, the Navi Mumbai Municipal Corporation (NMMC) has identified 3,500 illegal constructions, raising concerns about the extent of violations in the well-planned city. Data shows 534 unauthorized buildings were identified in the first ten months of this year alone, bringing the total to over 15,000. While the NMMC has taken actions, residents believe efforts remain insufficient. The surge in illegal constructions raises infrastructure strain and concerns about water scarcity. Buyers are also at risk, lured by low-priced flats lacking essential permissions.Read more

The Navi Mumbai police have initiated legal action by filing an FIR against five individuals accused of coercively demanding Rs 1 crore from a builder in Panvel. The primary aggressor forcefully entered the builder's residence, physically assaulted him, and demanded the sum. Four additional individuals joined in, escalating the threat by issuing ominous warnings, including the potential harm to the builder's son if the demanded amount was not promptly paid. The situation presents a serious threat beyond financial extortion, involving the safety of a family member. The ongoing investigation aims to identify and apprehend the perpetrators while exploring the motives behind this alarming incident.Read more

Land speculation in Navi Mumbai surged as small developers, aided by brokers, acquired CIDCO plots at inflated prices and then started selling unregistered apartments without allotment letters from CIDCO. Despite lacking permissions, buyers were attracted by offering significant discounts. MahaRERA has intervened against these practices and started issuing notices and orders to developers. Recent actions emphasise regulatory compliance and transparency in real estate dealings. Upholding standards, authorities aim to create a secure and transparent real estate environment, safeguarding the interests of homebuyers and investors.Read more