22 Oct 2024

Godrej Properties (GPL) has won the bid to develop a 6.54-acre group housing project in Kharghar, Navi Mumbai, offering around two million square feet of residential space with an estimated revenue potential of INR 3,500 crore. In the first half of the financial year, GPL saw a 62% rise in collections and over 200% growth in operational cash flow. The company added eight new projects, with a saleable area of 11 million square feet and a booking value potential of INR 12,650 crore.Read more

11 Oct 2024

The Navi Mumbai Municipal Corporation's Encroachment Department, under the direction of Commissioner Dr. Kailas Shinde, took eviction action in the Turbhe division due to non-compliance with a prior notice. An inspection at Mr. Arvind Manohar Thombre's property revealed approximately 750 sq. m. of unauthorized RCC construction. Despite a notice issued under the Maharashtra Regional Planning and Town Planning Act, the construction continued. The CIDCO Authority coordinated a joint eviction campaign, utilizing heavy machinery and personnel for the removal.Read more

09 Oct 2024

Xanadu Realty, in collaboration with Delta Group, Bhagwati Group, and Pyramid Group, has announced Celestria, a premium residential project in Airoli, Navi Mumbai. Spanning 1 million square feet and valued at INR 1,800 crore, the development will offer nearly 1,000 units of 2BHK, 3BHK, and 4BHK homes. With prices ranging from INR 1.4 crore to INR 4 crore, Celestria is set to redefine luxury living in Navi Mumbai, combining innovative design and quality construction in one of the city's prime residential hubs.Read more

03 Oct 2024

The Navi Mumbai International Airport (NMIA) has completed its runway construction, with a trial flight scheduled for October 5, attended by Prime Minister Narendra Modi. CIDCO chairman Sanjay Shirsat expressed optimism about the project, anticipating domestic operations by March 2025 and international flights by June 2025. Developed by Adani Airports and CIDCO, NMIA will feature four terminals and is expected to alleviate pressure on Mumbai's existing airport.Read more

03 Oct 2024

Princeton Digital Group has partnered with K Raheja Corp's Mindspace Business Parks REIT to create its largest data centre campus in India at Mindspace Airoli West. The agreement includes a 20-year lease for five buildings across 16 acres, adding one million square feet to Princeton's portfolio. The project will enhance the REIT's total footprint to 1.6 million square feet, supporting the growing demand for data centres in Navi Mumbai, a hub for infrastructure and AI technology.Read more

01 Oct 2024

The Navi Mumbai Municipal Corporation has taken decisive action against unauthorized constructions in the Airoli division, specifically targeting an RCC building at Sagarnath Rama Madhvi in Diva Village. Despite issuing a notice under Section 54 of the Maharashtra Regional Planning and Town Planning Act, 1966, the unauthorized construction continued. Following a High Court order, the demolition of the fifth floor began, utilizing manual tools due to site access limitations. This operation was supported by a team of laborers and officials from the Airoli Division, highlighting the Corporation's commitment to enforcing regulations and addressing illegal constructions effectively.Read more

26 Sep 2024

Sanjay Shirsat, the newly appointed chairman of the City and Industrial Development Corporation (CIDCO) aims to transform leasehold land in Maharashtra into freehold, addressing long-standing demands from Navi Mumbai residents. He took office earlier this week, succeeding a position that had been vacant for four years. While residents advocate for freeholding, CIDCO maintains that acquired land remains leasehold. Shirsat pledged to seek government support and emphasised the importance of timely project completion, focusing on the interests of those affected and the broader community in Navi Mumbai.Read more

24 Sep 2024

Under the leadership of Commissioner Dr. Kailas Shinde and guided by Dr. Rahul Gethe, the Navi Mumbai Municipal Corporation's (NMMC) Encroachment Department dismantled unauthorized huts in Nerul on September 19, 2024. These huts, set up on a footpath near the NMMC water lifting station, were linked to illegal activities and caused public safety concerns, especially for women. A coordinated effort involving local police and laborers resulted in the demolition of the structures and seizure of various items. Additionally, NMMC took action against unauthorized banners across eight divisions. The corporation remains committed to maintaining law and order by preventing illegal encroachments.Read more

16 Sep 2024

The Supreme Court has declined to stay the resolution plan proposed by Adani Goodhomes, a subsidiary of Adani Infrastructure and Developers, to acquire the insolvent real estate company Radius Estates. The case highlights the ongoing challenges surrounding substantial haircuts taken by lenders in insolvency resolutions. While the dissenting creditors have raised concerns about the 93% haircut imposed by the plan, the majority of stakeholders, including homebuyers, have endorsed Adani Goodhomes' proposal. Adani Goodhomes has offered approximately INR 76 crore to Radius Estates' creditors, who have claims totalling around INR 1,700 crore. Adani Goodhomes has also committed to completing the residential project in Mumbai at no additional cost to the homeowners.Read more

16 Sep 2024

Dr. P.P. Vava, a member of the National Commission for Safai Karamcharis, visited the Navi Mumbai Municipal Corporation (NMMC) headquarters to commend their cleanliness initiatives and welfare efforts for sanitation workers, referred to as "Swachhata Mitra" and "Safai Mitra." He praised NMMC's work and offered suggestions for future improvements. During his visit, he inspected vehicles and equipment used for cleanliness and interacted with workers. The event also honored social advisor Girender Nath and coordinator Sandeep Charan, with NMMC Commissioner Dr. Kailas Shinde presenting NMMC's efforts to ensure the dignity, safety, and health of sanitation workers.Read more

13 Sep 2024

The Navi Mumbai Municipal Corporation (NMMC) recently demolished an unauthorized RCC building in Sector 9, Airoli, after its owners failed to comply with a notice from the Encroachment Department. The structure, located behind Machhi Market and owned by Sagar Nath Rama Madhavi, was being built without the required permits. Despite a notice under the Maharashtra Regional and Town Planning Act, 1966, construction continued, prompting partial demolition of the third floor on 11th September 2024. The NMMC used manual labor due to site constraints. This action, directed by Commissioner Dr. Kailas Shinde, is part of ongoing efforts to curb illegal constructions in the area.Read more

12 Sep 2024

Nexus Seawoods Mall will host 'Onam Opulence 2024' on September 14th and 15th, showcasing a 64 sqm Pookkalam made from 250 kg of flowers. The event will also feature traditional performances, including the Theyyam Dance, a first for Navi Mumbai. Cultural activities on September 14th will include various dance forms such as Thiruvathirakali, Mohiniyattam, and Kathakali. The festival celebrates Kerala's rich heritage and aims to bring the community together in Navi Mumbai.Read more

11 Sep 2024

Delhi-based Centre for Sight (CFS), a leading eye care chain, has acquired a 51% stake in Navi Mumbai's Laxmi Eye Hospital, enhancing its presence to nine centers in Maharashtra. This acquisition is part of CFS's broader expansion strategy, which includes investing INR 300-500 crore over the next few years. Founded in 1989, Laxmi Eye Hospitals operates four centers and is renowned for its quality and affordable care. In May, CFS raised USD 100 million from ChrysCapital, with half used to facilitate an exit for Mahindra and the rest allocated for expansion. CFS recently added 10 centers and reported over 1.5 million annual visits as of March 2024.Read more

10 Sep 2024

Despite issuing notices, individuals failed to address unauthorized constructions in Navi Mumbai's Belapur division, prompting the Navi Mumbai Municipal Corporation's Encroachment Department to take decisive action. Under the directives of Commissioner Dr. Kailas Shinde and guided by Dr. Rahul Gethe, demolition operations were carried out against illegal structures at House No. 842 and House No. 841/4 in Karave Village. The property owners, Mr. Satish Tandel and Mr. Parasnath R. Yadav, had continued construction despite receiving notices under Section 54 of the Maharashtra Regional and Town Planning Act, 1966. Supervised by Assistant Commissioner Shashikant Tandel, the demolition campaign involved officials, staff, and police personnel, recovering INR 50,000/- from the owners. Future anti-encroachment efforts will be intensified.Read more

06 Sep 2024

To combat malaria, dengue, and waterborne diseases, Navi Mumbai Municipal Corporation (NMMC) has initiated special awareness camps. These camps, organized by the NMMC Health Department across 24 Urban Primary Health Centres, aim to educate citizens on disease prevention and health practices. On August 28th, over 13,000 residents participated in these camps, and 1,216 blood samples were collected. Five such camps have already benefited 40,825 citizens. The camps include demonstrations on preventing mosquito breeding, such as covering water storage and maintaining cleanliness. NMMC Commissioner Dr. Kailas Shinde urges residents to eliminate mosquito breeding sites and adhere to hygiene practices to control disease outbreaks effectively.Read more

05 Sep 2024

In preparation for the upcoming Ganesh Chaturthi festival, the Navi Mumbai Municipal Corporation (NMMC) has intensified its efforts to repair potholes and improve roads across the city. Spearheaded by NMMC Commissioner Dr. Kailas Shinde and Additional Commissioner and City Engineer Mr. Shirish Ardavad, the City Engineer's Department is working tirelessly to ensure that 95% of the city's main and internal roads are now pothole-free, with the remaining 5% expected to be completed shortly. Using a scientific approach, the team is addressing potholes with materials like cold mix, bitumen, and concrete, ensuring durability and preventing future damage. This initiative aims to provide safe and smooth roads for the Ganesh Chaturthi celebrations, with particular focus on the heavily trafficked Thane-Belapur road.Read more

04 Sep 2024

The Navi Mumbai Municipal Corporation (NMMC) has implemented strict measures to curb noise and air pollution caused by ongoing construction and redevelopment projects within its jurisdiction. In response to citizen complaints and a directive from the Mumbai High Court, NMMC Commissioner Dr. Kailas Shinde formed a committee to develop a Standard Operating Procedure (SOP) for pollution control and safe blasting practices. The SOP, approved on July 26, 2024, includes guidelines for monitoring construction sites, with local officers required to conduct weekly inspections until foundation work is complete. Violations will result in legal action under relevant laws, reinforcing NMMC's commitment to minimizing environmental impact and ensuring public safety.Read more

03 Sep 2024

Earlier this month, the Navi Mumbai Municipal Corporation (NMMC) and CIDCO conducted a demolition operation in Ghansoli, Navi Mumbai, targeting unauthorized constructions. Despite prior notices from the Encroachment Department, the concerned parties failed to address the issue, prompting punitive action under the directives of Commissioner Dr. Kailas Shinde and guidance of Dr. Rahul Gethe. The operation dismantled an illegal structure at Dattnagar, Ghansoli Village, belonging to Smt. Jaywanti Halya Mhatre and others, and two unauthorized shops in Ghansoli Nagar. The demolition involved heavy machinery and was supported by police and municipal officials. These actions highlight NMMC's commitment to enforcing municipal regulations and curbing illegal construction activities in the city.Read more

03 Sep 2024

Navi Mumbai, distinguished as the only municipal corporation in post-independence India to own a dam, celebrated the full capacity of its Morbe Dam with a traditional water worship ceremony. Located on the Dhavari River in Khalapur Taluka, the dam has a capacity of 450 million liters per day and was filled by the end of August this year, thanks to substantial rainfall. The event was attended by MLA Shri Ganesh Naik, Municipal Commissioner Dr. Kailas Shinde, and other officials. MLA Naik highlighted the strategic significance of the dam and stressed the need for exploring additional water sources due to the city's growing population. Dr. Shinde praised the dam's capacity and announced ongoing efforts to ensure equitable water distribution. Despite the abundant reserve of 191.463 million cubic meters, residents are encouraged to use water wisely.Read more

29 Aug 2024

Nishkala Healthcare has acquired Suasth Healthcare Foundation's 400-bed multi-speciality hospital in Kalamboli, Navi Mumbai, for INR 189 crore under the Insolvency and Bankruptcy Code (IBC). The acquisition is financed through a mix of debt and equity, with promoters infusing INR 73 crore in equity. The hospital spans 500,000 sq ft and includes 63 ICU beds, neonatal units, and specialised operating theatres. The Kolkata bench of the National Company Law Tribunal (NCLT) approved a INR180 crore resolution plan against INR 628 crore in creditor claims. Yes Bank and Axis Bank, major lenders, hold voting rights, with J C Flower ARC acquiring Yes Bank's stressed loans.Read more