03 Sep 2025

Shah Rukh Khan has rented two duplex apartments in Mumbai's Pali Hill while his residence, Mannat, undergoes renovation. The lease, signed with the Bhagnani family, is valued at INR 8.67 crore over three years and provides him about 10,500 sq ft of space. Around the same time, Kriti Sanon purchased a duplex penthouse in the Supreme Prana project in the same neighbourhood. Her apartment, spread across the top two floors, is priced at INR 78.2 crore and comes with six parking spots. The article also outlines the differences between duplex and standalone apartments.Read more

03 Sep 2025

Puravankara, through its subsidiary, has obtained redevelopment rights for a housing society in Malabar Hill, one of South Mumbai's prime neighbourhoods. The society spans 1.43 acres and offers a development potential of about 0.7 million sq ft. The project carries a gross development value (GDV) of INR 2,700 crore. This acquisition comes shortly after the company's Chembur redevelopment win and builds on its earlier Breach Candy project. Together, these developments increase Puravankara's Mumbai portfolio to 4.25 million sq ft with an overall GDV potential of INR 10,500 crore.Read more

03 Sep 2025

The Supreme Court has upheld the Bombay High Court's interim order declining to stay the termination of a lease over 150 acres of salt-pan land in Mulund, Bhandup and Kanjurmarg, part of a 782-acre holding in Mumbai. The decision rested on the observation that the land had not been used for salt production since 1995, making continuation inequitable to the Centre. While protecting the leaseholder's rights over the remaining 632 acres subject to ground rent and fees, the Supreme Court left the merits for the High Court to examine.Read more

02 Sep 2025

Excel Infra Construction is set to invest INR 252 crore in the Bellissima luxury residential project at Bandra Reclamation, Mumbai. The 33-storey tower will feature 96 apartments, with expected revenue of INR 400 crore. The funding will be a mix of equity and an Alternative Investment Fund structured as non-convertible debentures. Leveraging advanced construction technology, the company aims to complete the project ahead of schedule.Read more

02 Sep 2025

Indian Railways is set to generate approximately INR 6,000 crore in revenue by leasing out two underutilized, prime plots of land in Mahalaxmi and Bandra for 99 years. The Rail Land Development Authority (RLDA) is overseeing the process, which is a key part of a broader government strategy to monetize non-core assets. The Mahalaxmi plot, with a base price of INR 993.30 crore, is the first of many such projects to be tendered, aiming to use the city's booming luxury real estate market to fund railway infrastructure.Read more

02 Sep 2025

The Bombay High Court has ordered a judicial probe into 935 redevelopment notices issued by the Mumbai Building Repairs and Reconstruction Board (MBRRB), a MHADA unit, after finding they were based on visual checks rather than mandatory structural audits. A bench of Justices G.S. Kulkarni and Arif Doctor called the notices arbitrary and possibly driven by vested interests to exploit redevelopment. The court struck down a 2024 SOP that gave officials undue powers and appointed a two-member judicial committee. Retired Justice J.P. Devadhar and Retired Judge Vilas D. Dongre to investigate. Of the notices, 46 were withdrawn and 889 put on hold, reinforcing property rights and curbing misuse of authority.Read more

31 Aug 2025

The Bombay High Court has directed 11 occupants of four unsafe buildings in Vasai West's Diwan and Sons Housing Enclave to vacate within two weeks, clearing the way for demolition and redevelopment. The Vasai Virar Municipal Corporation had already classified the buildings as dangerous, with a technical advisory committee confirming their poor condition. While 90% of residents supported redevelopment and appointed a builder, 11 opposed the plan. The court ruled that minority objections cannot jeopardize safety or stall majority-backed redevelopment, granting a short Ganpati festival-linked extension. If dissenting occupants fail to vacate, eviction will proceed with police assistance to ensure timely redevelopment.Read more

29 Aug 2025

Grounded airline Jet Airways has signed a definitive agreement to transfer the lease of its Bandra-Kurla Complex (BKC) corporate office in Mumbai for INR 370.25 crore as part of its liquidation process. The lease will be assigned to Parthos Properties Pvt Ltd, subject to approval from the Mumbai Metropolitan Region Development Authority (MMRDA). Conducted under the Insolvency and Bankruptcy Code (IBC), the sale marks an important step in monetizing Jet's assets to repay creditors. Once India's premier private airline, Jet suspended operations in April 2019 after financial collapse, and a failed resolution plan eventually led to a Supreme Court-ordered liquidation in 2024.Read more

29 Aug 2025

The Bombay High Court has instructed all municipal corporations across Maharashtra to immediately halt work and initiate legal action against builders found in violation of new safety norms. The court's directive follows a series of fatal accidents, including one where a rod fell from a metro construction site, and aims to enforce stringent safety protocols for high-rise buildings. The new measures, part of a report from an expert committee, are now a mandatory condition for all future building permissions, making any breach a civil and criminal offense punishable by law. This decisive action is a critical step to ensure public safety.Read more

28 Aug 2025

The first trial coaches for Mumbai Metro Line 4 were placed on tracks near Anand Nagar, Thane, on August 25, 2025, marking the project's final phase. Trial runs are set to begin in September, with the Yellow Line-running from Wadala to Kasarvadavali-expected to open to the public next year. Deputy CM Shri Eknath Shinde confirmed that work on Thane's underground internal metro line, linked to Line 4, is also progressing. The trial coaches, supplied under a BEML-L&T Alstom JV contract, will test systems before final trains arrive. The first operational stretch, a 10.5-km segment with 10 stations, will open in February 2026.Read more

27 Aug 2025

The Supreme Court has upheld the Bombay High Court's decision that annulled the Slum Redevelopment Authority's acquisition of Church Trust-owned land in Bandra, noting that a private developer's influence was apparent in the process. The court stressed that a landowner's preferential right to redevelop should not be overlooked. It criticised the authority for rejecting the Trust's proposal while entertaining the developer's, and directed that the Trust be allowed to submit its own scheme for consideration.Read more

Mr Aditya N Shah, Director, Mayfair Housing

27 Aug 2025

Mumbai, the country's financial capital and most populous city, is preparing for large-scale redevelopment to address ageing infrastructure and rising population demands. With predictions of increasing urban GDP contribution and growing need for office and housing space, cluster redevelopment under DCPR 2034 has been positioned as the solution. By incentivising developers with higher FSI and focusing on sustainability, the city aims to modernise neighbourhoods while ensuring inclusivity, affordable housing, and long-term urban resilience.Read more

27 Aug 2025

PVR INOX, India's largest cinema exhibition company, has signed a 15-year lease for a 10-screen megaplex at the new Sky City Mall in Borivali, Mumbai. The company will pay a monthly rent of INR 91.42 lakh or a 20% share of its revenue, whichever is higher, and has paid a security deposit of INR 10.97 crore. The megaplex, which is part of a larger mixed-use development by Oberoi Realty, aims to reinforce Mumbai's position as a cornerstone market for the company and create a "lifestyle-centric experience" for modern audiences.Read more

27 Aug 2025

In one of Mumbai's latest high-value real estate transactions, Mr. Pradeep Gupta, the Co-founder & Vice-Chairman of Anand Rathi Wealth, and his wife have purchased a luxury apartment in the prestigious 'Three Sixty West' project in Worli for INR 131 crore. The deal, which was registered on August 20, 2025, reflects the soaring demand for ultra-premium properties in the city. The apartment, located on the 55th floor, is part of a mixed-use project developed by Oberoi Realty and also houses The Ritz-Carlton Hotel, solidifying Worli's status as a key destination for Mumbai's affluent.Read more