Advertisement
01 Mar 2026
The Bombay High Court has partly upheld an arbitral award in favour of Mumbai Metro One Pvt Ltd (MMOPL) in its dispute with the Mumbai Metropolitan Region Development Authority (MMRDA) over cost escalation in Metro Line 1. While the court accepted that project delays led to higher costs, it significantly reduced the compensation earlier granted by the tribunal. Several additional claims, including overheads, financing costs and loss of profit, were rejected due to insufficient proof. The ruling follows a long legal battle arising from delays in executing Mumbai's first metro corridor.Read more
01 Mar 2026
The Brihanmumbai Municipal Corporation (BMC) has allocated INR 7,456 crore for the health department in its 2026-27 budget, marking a marginal increase over last year. A key project includes a 16-storey multi-specialty hospital in Kamathipura, expected to be completed by May 2027. The civic body will also introduce artificial intelligence-based diabetic retinopathy screening and open three dialysis centres under public-private partnership. However, revenue spending has seen only limited growth, raising concerns about operational capacity in existing civic hospitals.Read more
01 Mar 2026
The Parel Sewri stretch in central-eastern Mumbai is witnessing a gradual repositioning as a potential luxury residential micro-market, driven by large-scale infrastructure upgrades and land availability. Improved connectivity through the Mumbai Trans Harbour Link, originating near Sewri, has strengthened access to Navi Mumbai, while proposed road and connector projects are set to enhance links with South and Central Mumbai. Parel's established luxury housing ecosystem, shaped by mill land redevelopment, is now converging with Sewri's industrial land parcels, which are beginning to attract residential and mixed-use interest. Industry stakeholders point to the availability of larger plots, infrastructure-led regeneration and waterfront adjacency as factors supporting premium housing formats. The shift reflects a broader eastward expansion of Mumbai's luxury residential landscape beyond traditional western corridors.Read more
01 Mar 2026
The Bombay High Court has ruled that the Enforcement Directorate's arrest of Prateek Kanakia, co-founder of The Green Billions Limited, was illegal and without sufficient justification under the Prevention of Money Laundering Act. The court quashed the remand orders passed by the PMLA court and directed his release with conditions. The case stems from alleged diversion of INR 50 crore from an INR 80-crore loan sanctioned for a Pune waste management project. The court noted lack of evidence linking Kanakia to the diverted funds and absence of non-cooperation.Read more
01 Mar 2026
Mumbai's property investment landscape in 2026 is being shaped by a combination of large-scale infrastructure delivery, expanding transit networks and a growing preference for lifestyle-oriented residential formats. Several micro-markets across the city and its periphery are emerging as key investment destinations, spanning established luxury corridors, evolving commercial-residential hubs and plotted development zones. Locations such as Chembur and Mulund are benefiting from improved regional connectivity, while Panvel's growth is being driven by airport-led infrastructure and integrated township development. Peripheral markets like Karjat are drawing interest for plotted and second-home formats, while western suburbs including Malad and Goregaon continue to see steady demand for premium housing. Together, these markets reflect a broader shift towards connectivity-led, long-term residential investment opportunities across the Mumbai Metropolitan Region.Read more
01 Mar 2026
South India-based residential developer Casagrand Premier Builder Limited has expanded its operational footprint in western India with the inauguration of a development office in Mumbai. Located in Lower Parel, the new office is intended to serve as a strategic base for the company's growing focus on Maharashtra, where it already has an ongoing residential project in Pune. The inauguration was attended by Shaina NC and the company's Chairman and Managing Director Arun Mn, along with senior leadership. Casagrand, which has built a portfolio of more than 180 projects across India and Dubai, has traditionally been concentrated in southern markets. The Mumbai office reflects its long-term intent to deepen engagement with western India's real estate ecosystem, including consultants, partners and homebuyers, while strengthening operational execution in the region.Read more
01 Mar 2026
Construction of a proposed jetty at Cuffe Parade in south Mumbai was stopped after it emerged that mandatory Coastal Regulation Zone (CRZ) permissions had not been obtained. The project, initiated by the Maharashtra Fisheries Development Corporation, faced strong opposition from residents who said it would impact a community-developed promenade. The Cuffe Parade Residents Association claimed to have spent over INR 30 crore on maintaining the space. They also raised concerns about encroachments, illegal structures and questioned the need for another jetty when the nearby Vadwapa jetty already serves local fishermen.Read more
01 Mar 2026
Mumbai's redevelopment landscape has evolved beyond the replacement of ageing buildings, emerging as a key driver of premium residential growth across suburban markets. As redevelopment activity gathered pace earlier this year, projects across several suburbs moved towards completion or entered new phases, reflecting a broader shift in urban renewal. What began as a response to ageing housing stock and land constraints has developed into a new phase often described as Luxury 2.0, where redevelopment projects integrate modern infrastructure, enhanced amenities and long-term value creation. Supported by policy incentives under Development Control and Promotion Regulations 2034 and strengthened by metro expansion and road connectivity, suburban redevelopment is increasingly delivering high-end housing. Locations across western and central Mumbai are witnessing rising per sq ft values, larger homes and lifestyle-led developments, repositioning suburbs as core residential destinations rather than peripheral markets.Read more
28 Feb 2026
The Bombay High Court has allowed the Brihanmumbai Municipal Corporation (BMC) to use 17,756 sq metres of land in Worli for a sewage treatment plant and related civic infrastructure. The land was originally reserved for this purpose but the reserved area was later reduced from around 27,700 sq metres following a State government order in mid-2024. The court said it will examine how and why this reduction was approved. The developer has assured the court that transit camp structures built on the site will be removed within 90 days.Read more
28 Feb 2026
Mumbai-based real estate developer Platinum Corp. has entered into a design collaboration with interior designer Sussanne Khan for a set of upcoming residential developments planned across key micro-markets in Mumbai, including Bandra, Khar, Santacruz and Andheri. The partnership forms part of the developer's 2026 development pipeline and is aimed at integrating interior design planning more closely with architectural and lifestyle-led residential formats. Khan will be involved across shared and private residential spaces, with a focus on understated, experience-driven interiors aligned with Platinum Corp's redevelopment-led luxury housing strategy. The developer stated that the collaboration seeks to deliver consistency in design language across select projects, while retaining functional planning and long-term residential usability within high-density urban locations.Read more
Advertisement
28 Feb 2026
The Maharashtra government has issued more than 1,000 stop-work notices to construction sites across Mumbai for failing to comply with dust and air pollution control norms, the state environment minister informed the legislative assembly earlier this week. Out of 2,224 active sites, 1,952 have installed air quality monitoring sensors, but several were found violating mandatory mitigation rules. Nearly 1,981 show-cause notices were served over the past four months. Authorities have also collected fines and intensified road-cleaning measures as part of the ongoing clean air enforcement drive.Read more
28 Feb 2026
Maharashtra Housing and Area Development Authority (MHADA) says large-scale cluster redevelopment and targeted policy reforms are essential to address Mumbai's deepening housing affordability crisis, as the city's developable land nears exhaustion. Speaking at the ET Realty Real Estate Conclave 2026, MHADA Vice-President and Chief Executive Officer Sanjeev Jaiswal highlighted that Mumbai's housing affordability index — where an average household spends roughly half its income on home loan EMIs — reflects structural constraints in the supply system. He outlined plans to open 800-1,000 acres for cluster-led redevelopment in integrated layouts and called for rationalisation of premiums, development charges and taxes to reduce housing costs by up to 25 per cent. MHADA's roadmap, he said, would help deliver a substantive share of future housing supply and underpin broader efforts to expand access across income segments.Read more
28 Feb 2026
The BMC has launched an inquiry into the Phoenix HSBC Racquet Club amid allegations of unauthorised commercialisation of a recreational ground at Phoenix Mills, Lower Parel. Citizens' group Chaka Chak Lower Parel reported that the 4,058.16 sq.m terrace, originally sanctioned as a public recreational ground, is being used as a ticketed, revenue-generating sports club managed by Bellona Hospitality Services. The complaint cites violations of the MRTP Act, MMC Act, and Development Control and Promotion Regulations, noting that such conversions limit public access and could set a precedent for reducing open spaces in Mumbai.Read more
27 Feb 2026
Apple is expanding its physical retail presence in India with a new store in Borivali, Mumbai. The outlet will be the company's sixth in the country and will operate fully on renewable energy while employing over 70 people. In parallel developments, Tata Power has introduced smart lighting and automation solutions for commercial and industrial buildings under its EZ Home initiative, targeting up to 80 per cent energy savings. Britannia has also unveiled a premium variant of its 50-50 biscuit to mark the brand's 30th anniversary.Read more
27 Feb 2026
Mumbai-based developer Rustomjee Group has announced the launch of Rustomjee Cliff Tower, an ultra-luxury residential project located at the Mount Mary precinct in Bandra, one of the city's most supply-constrained and heritage-sensitive neighbourhoods. The project comprises a limited inventory of 4 BHK, 5 BHK and duplex residences in a low-density tower format, with two homes per floor and semi-private lift lobbies. Designed by Sanjay Puri Architects, the development is positioned at an elevated point overlooking the Arabian Sea, Bandra Bay and the Mumbai skyline. Apartment sizes range from around 2,700 sq ft for 4 BHK units to over 4,300 sq ft for larger configurations. The developer said the project prioritises privacy, spatial efficiency and long-term livability over volume-led development.Read more
27 Feb 2026
Mumbai's civic body has proposed a INR 80,952.56 crore budget for 2026-27, reflecting an 8.77 per cent rise over the previous year. A key highlight is the planned deployment of INR 36,623.09 crore from fixed deposits to finance major infrastructure works. Capital expenditure forms nearly 60 per cent of the total outlay under the Mega Mumbai Makeover plan. Large allocations have been made for coastal roads, sewage treatment upgrades, road concretisation, water security and healthcare infrastructure. The BMC is also examining municipal bonds as a new funding route.Read more
27 Feb 2026
The Enforcement Directorate has provisionally attached industrialist Anil Ambani's 17-storey residence 'Abode' in Mumbai's Pali Hill, valued at over INR 3,716 crore, under the Prevention of Money Laundering Act. The action is part of an ongoing probe linked to alleged bank loan fraud involving Reliance Communications Ltd and related entities. With this move, total attachments in the case have crossed INR 15,700 crore. The agency has alleged that the property was placed under a family trust structure, raising questions over asset ownership and liability.Read more
27 Feb 2026
Devisha Yadav, wife of Indian cricketer Suryakumar Yadav, has acquired a luxury apartment worth INR 7.18 crore in Godrej Sky Terraces, according to recent registration records. The 1,402 sq ft unit, registered in February 2026, includes two car parking spaces and reflects continued interest from high-net-worth individuals in Mumbai's premium residential segments. This purchase adds to the family's existing real estate holdings in the same development, where the couple acquired two larger apartments in March 2025 for around INR 21.1 crore. Stamp duty for the latest transaction was reported at INR 35.90 lakh, with registration charges of INR 30,000. Possession of the new apartment is scheduled for June 2028, underscoring the role of long-term residential investments in the city's eastern suburbs.Read more
27 Feb 2026
The Bombay High Court has quashed a decision by a Maharashtra Housing and Area Development Authority (MHADA) officer to revoke a redevelopment no-objection certificate (NOC) after construction had progressed up to the tenth floor of a 16-storey redevelopment project in Tardeo, South Mumbai. The project, sanctioned under an NOC issued in 2019 for Satyabhama Building, had advanced with the developer, Kumar Agro Products Pvt Ltd, investing substantially in construction before the NOC was cancelled following a 2025 representation alleging altered ownership. The court, in hearings earlier this week, held that the officer acted beyond statutory authority and emphasised that ownership disputes must be resolved in civil courts, not through administrative revocation of redevelopment rights. The cancellation was withdrawn in open court and the NOC reinstated, with the bench warning officials to exercise caution and seek legal advice before issuing disruptive orders affecting ongoing real estate projects.Read more
27 Feb 2026
The proposal to install astroturf at Colaba Back Garden in south Mumbai has been withdrawn after objections from local footballers and residents. Maharashtra Legislative Assembly Speaker Rahul Narwekar clarified that the ground will retain its natural mud surface and there will be no reduction in its size. While the artificial turf plan has been shelved, basic infrastructure such as floodlights, toilets and changing rooms will be added. The Brihanmumbai Municipal Corporation will also level the ground to improve playing conditions while preserving its traditional character.Read more
Advertisement
