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

Kochi Metro Rail Ltd (KMRL) has issued a request for proposal (RFP) to prepare the detailed project report (DPR) for its 18 km Phase III Metro line from Aluva to Angamaly via Kochi airport. The Ministry of Housing and Urban Affairs has granted in-principle approval for financial assistance. The project will feature 15 stations, including a 3 km underground section at Nedumbassery. KMRL is also assessing independent corridor feasibility and potential future extensions to Kochi GIFT City. The new line aims to reduce congestion and enhance urban transport, marking a major step in Kochi's infrastructure growth.Read more

Vriti Gothi

The 2025 Union Budget, presented by Finance Minister Nirmala Sitharaman, introduces several measures impacting India's real estate sector. Key provisions include raising the TDS threshold for rent to INR 6 lakh, extending the updated tax return filing window to four years, and allowing tax deductions on multiple self-occupied properties. The income tax exemption limit has increased to INR 12 lakh, boosting middle-class purchasing power. The home loan interest deduction limit has been raised from INR 2 lakh to INR 5 lakh, supporting affordable housing. While developers welcome infrastructure investments and the Urban Challenge Fund, industry leaders emphasize the need for direct incentives like industry status and streamlined approvals to sustain growth.Read more

The Maharashtra government has approved the Metro 8 corridor, connecting Navi Mumbai International Airport to Mumbai's Chhatrapati Shivaji Maharaj International Airport, under a Public-Private Partnership (PPP) model. The 35-km corridor, featuring 20 stations, will integrate key hubs like Kurla and Mankhurd while enhancing multimodal connectivity. CIDCO will prepare the project report, with an estimated cost of INR 15,000 crore and a six-year completion timeline. While Metro 8 aims to boost airport accessibility, its success hinges on careful execution, financial sustainability, and learning from previous PPP challenges.Read more

Bengaluru's urban infrastructure is set for major upgrades with Phase 3 of the Metro scheduled for completion by December 2029, covering 44.65 km across two key corridors at a cost of INR 15,611 crore. Complementing this, the BDA plans to allocate 30,000 housing units, with 10,615 flats already completed and 14,909 under construction. The city is also strengthening traffic management through AI-based ASTRAM systems and enhancing public safety with vehicle tracking under the Nirbhaya Fund. Meanwhile, Karnataka's revised policies aim to simplify mining leases and attract investments via its Global Capability Centre Policy 2024-29, reinforcing Bengaluru's tech hub status.Read more

The UK government, in collaboration with the Department for Transport (DfT) and Crossrail International (CI), has signed a Memorandum of Understanding (MoU) with the Mumbai Metropolitan Region Development Authority (MMRDA). The partnership, announced during the World Economic Forum, aims to accelerate Mumbai's metro expansion and establish a world-class, integrated transport system. The MoU focuses on sustainable urban growth, innovation, and knowledge exchange, leveraging expertise from UK institutions like Transport for London and Network Rail. The initiative is set to bolster UK-India ties while promoting economic growth and advanced infrastructure development.Read more

The National Payments Corporation of India (NPCI) has leased 1.15 lakh sq ft of office space in Goregaon, Mumbai, for INR 2.15 crore per month, totaling over INR 136 crore for a five-year period. The lease includes a 15% rent escalation after three years. This expansion aligns with NPCI's efforts to bolster India's digital payments infrastructure. The move reflects the rising demand for premium commercial real estate in Mumbai, driven by growing digitalization and hybrid work trends. Goregaon's strategic location and connectivity make it a preferred destination for corporate expansions.Read more

The Trichy metro project, estimated at INR 10,917 crore, is facing delays as the Chennai Metro Rail Limited (CMRL) has yet to commence work on the detailed project report (DPR). Despite the completion of a detailed feasibility report (DFR) in August 2023 confirming the project's viability, the state government has prioritized metro projects in Chennai, Coimbatore, and Madurai. The proposed metro network includes two corridors spanning 45 km, aiming to alleviate congestion and boost economic growth. However, funding challenges and lack of government focus have stalled progress, requiring strong advocacy and financial planning to advance the project.Read more

Jay Chhabria

The Navi Mumbai International Airport (NMIA), a INR 16,700 crore project, is set to revolutionize air travel in the Mumbai Metropolitan Region. Spanning 1,160 hectares in Ulwe, NMIA will feature two parallel runways and four terminals, handling 90 million passengers annually upon full completion. Developed by Adani Airports and CIDCO, the first phase is expected to be operational by March 2025, accommodating 20 million passengers. Designed by Zaha Hadid Architects, the airport integrates seamlessly with key infrastructure projects like the Mumbai Trans Harbour Link and express metro, boosting regional connectivity, economic growth, and trade capabilities in Navi Mumbai and beyond.Read more

The Brihanmumbai Municipal Corporation (BMC) has proposed an ambitious plan to revamp the 26-kilometre Western Express Highway (WEH) spanning from Bandra East to Dahisar. This initiative, revealed during a recent meeting, aims to address traffic bottlenecks, improve road quality, and standardise footpaths, signage, and medians. Civic chief Bhushan Gagrani emphasised collaboration among agencies, including the BMC, traffic police, and MSRDC, to ensure effective implementation. Immediate measures, such as improved drainage systems, robust streetlights, and removal of scrap vehicles, were also highlighted. If successful, this project could bring significant relief to over 2.2 million daily commuters.Read more