Integrow Asset Management has partnered with Pune-based developer Paranjape Schemes, committing a substantial Rs 100 crore investment in their new Thane project. With over three decades of experience, Paranjape Schemes is known for quality and innovation, having completed 200 projects across 9 Indian cities. With incredible views of Yeoor Hills, the massive 1.5 million square foot Thane project is expected to generate an astounding revenue of Rs 1000 crores. With a focus on technology and customer-focused strategies, the executives convey enthusiasm for reinventing urban living. This partnership, which combines creativity, excellence, and client satisfaction, is expected to have a long-lasting effect on Thane's real estate market.Read more

Thane Municipal Corporation, led by Commissioner Abhijit Bangar, announced a stringent month-long demolition drive against illegal constructions starting January 10. This action, backed by Chief Minister Eknath Shinde's directive, targets notorious areas like Kalwa, Mumbra, and Diva. The operation, under the Maharashtra Prevention of Dangerous Activities Act, includes demolishing unauthorized structures and penalizing landlords for reconstruction. The drive aims to dismantle illegal buildings completely, with significant police and civic force deployment. This initiative, amid past corruption concerns, marks a determined effort to eradicate the city's long standing illegal construction issues.Read more

Thane-based Vihang Group is set to invest over Rs 850 crore in four real estate projects spanning 5 million sq ft to meet the housing demands of Thane. Emphasizing a revenue potential exceeding Rs 2,000 crore, the developments aim to offer aspirational living for millennials. Vihang Group, committed to sustainability, plans to fund the projects through a mix of equity, working capital, and customer advances, targeting completion by 2027. With 80% focused on residential spaces and 20% on lifestyle, hospitality, and education, the initiative aligns with the evolving preferences of Thane's housing market, marking a strategic expansion.Read more

State-owned NBCC has announced the completion of the sale of 5,000 residential units valued at Rs 2,900 crore across various projects of the Amrapali Group, as part of the Supreme Court-directed initiative through Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE). This significant milestone represents over 80 percent of the available inventory, providing relief to buyers who have awaited possession for years. NBCC, committed to completing Amrapali projects, aims to finish all remaining projects by March 2025, as it actively addresses challenges and contributes to the resolution of the long-standing issue of stalled residential developments.Read more

The Municipal Commissioner of Thane, Abhijit Bangar, has issued a "zero tolerance" directive against unauthorized construction in the city. Following the suspension of a senior official accused of protecting illegal structures, Bangar emphasized strict measures and consequences for those associated with such activities. Officials were instructed to comply with the Chief Minister's directive to demolish illegal structures, with a focus on cutting water connections to these constructions. Disciplinary actions were warned for officials involved in permitting illegal constructions, particularly those with water connections.Read more

Raymond Realty unveiled a grand 51,000-square-foot clubhouse in Thane's Ten X Habitat, marking a major milestone in its prime real estate venture. Featuring facilities like squash and badminton courts, a movie theatre, gym, and a serene pool. It also houses a communal catering kitchen for large gatherings. Gautam Hari Singhania, Chairman of Raymond Ltd, expressed pride, highlighting the commitment to creating vibrant communities. This clubhouse, accessible to all residents, sets a new standard in communal living, offering a space for connection, recreation, and a holistic living experience. Ten X Habitat project had already made headlines for completing three of its ten towers in December 2022, 4 years of its RERA schedule.Read more

Dosti Realty is making its foray into redevelopment with rights secured for a Thane project near the Eastern Express Highway. The 1 lakh sq ft land parcel promises a cumulative development potential of 3.10 lakh sq ft, with 2.10 lakh sq ft available for sale. The project has a revenue potential of over Rs 400 crores and is slated for a launch in FY 24-25. In addition to this, Dosti Realty is also said to be finalising two cluster redevelopment projects in Mumbai at an estimated investment of over Rs 1,000 crore. The company witnessed robust sales this fiscal year with sales exceed 3,000 residential units.Read more

The Maharashtra State Road Development Corporation (MSRDC) has issued tenders for leasing 50 acres near Amane in Thane to establish an international cricket stadium and coaching academy along the Mumbai-Nagpur Samruddhi Expressway. The Mumbai Cricket Association (MCA) has expressed interest, with stringent financial and expertise criteria to be met. The 99-year lease aligns with MCA's plans for new grounds in Thane and Navi Mumbai, addressing the lack of cricket coaching facilities in Thane compared to Mumbai. Additionally, MSRDC is involved in land pooling initiatives at Igatpuri, contributing to infrastructure enhancement and traffic flow improvements on the Mumbai-Nashik highway.Read more

Oberoi Realty has concluded the acquisition of approximately 6.4 acres in Thane for Rs 196 crore, following a memorandum of understanding with NRB Bearings. This strategic move aligns with Oberoi Realty's existing land holdings and development plans near Raymond Group's property. Recently entering the Delhi-NCR market with a Rs 597 crore land purchase in Gurugram, the company launched the upscale Forestville project in Thane. Despite a 17 percent decline in Q2 sale bookings, Oberoi Realty reported a robust 43 percent rise in consolidated net profit to Rs 456.76 crore, reinforcing its position as a leading luxury real estate developer.Read more

Oberoi Realty has unveiled Forestville, an expansive residential project spanning 18 acres in Thane's Kolshet area near Mumbai. Comprising five towers, the development offers 3 BHK apartments starting at 1,090 square feet and a base price of Rs 1.87 crore. Inspired by biophilic design principles, Forestville aims to seamlessly integrate nature with urban living, incorporating green spaces, water features, and eco-conscious design. Oberoi Realty strategically focuses on the 3 BHK segment, aligning with market demands in Kolshet. Forestville reflects Oberoi Realty's commitment to innovation and meeting the evolving preferences of discerning homebuyers.Read more

The recent disclosure that over 60% of Thane's total property tax collections come from just three affluent wards—Majiwada, Vartak Nagar, and Naupada-Kopri—raises concerns about the city's economic disparities. The underdeveloped suburbs like Mumbra, Diva, and Wagle Estate contribute the least, with experts attributing delayed payments to municipal neglect in these areas. Residents in both affluent and neglected zones face various challenges, from traffic congestion to poor infrastructure. The situation calls for a re-evaluation of municipal priorities to ensure equitable development across all parts of the city.Read more

Phoenix Mills, a leading retail mall developer and operator in India, has acquired 11 acres of land in Thane from Huhtamaki's Indian arm for Rs 429 crores. The acquisition, facilitated by Phoenix Mills' subsidiary Sparkle Two Mall Developers, is part of a strategic move for the development of a commercial project with office spaces in the Majiwada locality. Phoenix Mills has reported a 36% increase in net profit and a 34% growth in income from operations in the fiscal year 2023-24. The company is actively expanding retail destinations across major Indian cities and has a growing commercial office portfolio.Read more

Pokhran Road, situated in Thane district, is a burgeoning locale in Mumbai's Metropolitan Region, offering a harmonious mix of residential and commercial developments. The area, with diverse housing options and ongoing infrastructure enhancements, attracted 21 transactions in October. Tata Housing Serein led with 8 transactions, while Raymond The Address showcased the highest-priced flat at Rs. 3.15 Crores. The carpet area ranged from 335 to 1,396 square feet, reflecting varied preferences. With an average rate per square foot of Rs. 20,000, Pokhran Road signifies steady growth and maturation, making it a promising hub in Mumbai's real estate landscape.Read more

The Rustomjee Group, in partnership with Keppel, has introduced the magnificent La Vie at Rustomjee Uptown Urbania. This grand project, spanning 8.5 acres within a vast township, features eight independent towers, each rising to 55 stories, designed by acclaimed architect Hafeez Contractor. La Vie offers a variety of residential options, with Tower B providing 2-bedroom apartments, and Tower C offering spacious 3-bedroom homes. The location in Thane offers easy access to major business hubs, making it a preferred choice for urban convenience and natural beauty. La Vie redefines modern living, community harmony, and the promise of a brighter future.Read more

The Maharashtra state cabinet has approved various initiatives, including Rs. 25 crore for a cluster redevelopment project in Thane, focusing on providing affordable housing in underprivileged areas. The funds were allocated from the Mahatma Phule Backward Class Development Corporation, and the redevelopment will be executed by a subsidiary of the corporation. Additionally, the cabinet sanctioned government banking transactions through the state cooperative bank, aimed at supporting the cooperative sector. The cabinet also greenlit a power project in Koradi, and extended a scheme to pay interest on loans for cooperative spinning mills. Other amendments and initiatives were also passed.Read more

The Kopri rail overbridge (ROB) in Mumbai, intended to ease traffic congestion in Thane, has deteriorated in less than nine months since its inauguration. Cracks, uneven patches, and potholes have appeared, revealing subpar construction by the Mumbai Metropolitan Region Development Authority (MMRDA) and Central Railway authorities. The bridge, which cost over 250 crore to build, has experienced recurring issues despite repair work in July. Concerns have been raised about construction quality and the use of the Ultra-Thin White Topping (UTWT) method, which may not provide the durability required for long-lasting infrastructure. The focus on contractor-led projects over engineer-led initiatives has also been criticised.Read more

Residents of Kopri, Thane East, are vehemently opposing the construction of a three-story building at a crematorium, claiming it encroaches on the space used for children's final rites. Despite authorities insisting on renovation, the residents, demanding control be handed over to Thane Municipal Corporation, cite inadequate facilities on the grounds. Allegedly, a previous attempt at constructing a prayer hall halted in 2013 due to protests. Concerns include security lapses, with instances of guards being drunk and dogs interfering. TMC asserts the ongoing work aims to enhance cremation efficiency with additional pyres, not build a hall.Read more

Thane West, located in Maharashtra's Thane district, has become a thriving and accessible hub within the Mumbai Metropolitan Region. This area boasts diverse housing options, infrastructure development, green spaces, and proximity to key business centres like BKC and Powai, making it a sought-after destination for both living and business. The real estate sector in Thane West has flourished, with 172 transactions in just one week, involving various properties, and several prominent builders contributing to its growth. Affordability, smaller carpet areas, and ongoing infrastructure development have made it attractive to homebuyers, reflected in a competitive average rate of Rs. 16,414 per square foot.Read more

Seven luxurious properties in Yeoor, Mumbai, are currently being demolished by the Thane Municipal Corporation after it was discovered that they were built without the required civic approval within a "eco-sensitive zone." Yogesh Mundhra, an activist, expressed concern about their effect on the migration of wildlife. Deputy Lokayukta Sanjay Bhatia deemed two homes to be illegal and ordered their demolition. There are planned additional operations against the remaining bungalows. These illegal buildings belonged to the families of past officials and elected officials. The incident emphasizes how crucial it is to follow building codes, especially in environmentally sensitive areas, in order to protect the environment and wildlife habitats.Read more