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09 Jun 2023
Maharashtra launched Asia's largest urban renewal project in Thane city on June 5th. The Joint Colonies Redevelopment Project encompasses 45 schemes, transforming dilapidated buildings into safe, modern complexes over 1500 hectares. With dedicated facilities ranging from healthcare to women's empowerment centres, the project is set to radically improve living standards. Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis were present at the inauguration of this initiative, conceptualized by renowned architect Hafiz Contractor.Read more
01 Jun 2023
Mumbai-based property developer Oberoi Realty is in discussions with Marriott International and Hyatt to manage and operate a 5-star luxury hotel in Thane, Mumbai. The hotel will be part of a larger township project spread across 75 acres of premium land, which will also include residential buildings, office spaces, retail units, and an international school. Oberoi Realty, known for its successful collaborations in the hospitality sector, aims to invest approximately Rs. 10,000 crores in developing the project in phases.Read more
31 May 2023
Real estate developer Oberoi Realty has signed an MoU with NRB Bearings to acquire a 6.4-acre plot of land in Thane, adjacent to its existing land. The company reported significant growth in net consolidated profit for the quarter ending March 2023. The acquisition aims to strengthen Oberoi Realty's position in the real estate market and provide opportunities for further growth. Extensive market research will be conducted to tailor the development to meet local market demands, while customer service remains a priority.Read more
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29 May 2023
The Thane Revenue Department in Maharashtra is taking action against around 300 residents who allegedly defaulted on repaying bank loans taken to purchase immovable properties. The department will attach properties collectively valued over Rs. 300 crores against which the loans were secured. The action follows requests from lending institutions under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act.Read more
02 May 2023
Maharashtra CM Eknath Shinde has received a plea from Thane-based homebuyers, seeking intervention in the delayed Kalpataru Immensa project. Approximately 1,200 homebuyers have invested Rs 1,000 crore in the 1,500-apartment township but have not received possession. They also report difficulties in obtaining timely hearings from the Maharashtra Real Estate Regulatory Authority (MahaRERA). The homebuyers hope that the Chief Minister's intervention will help them secure possession of their homes and address the challenges they face in navigating the slow judicial process.Read more
18 Apr 2023
A builder and landowner in Thane, Maharashtra, are facing charges for allegedly fabricating permits to construct a residential building. The accused reportedly began forging permits from the Thane Municipal Corporation in 2017, which were used to register flats within the building. Authorities are now implementing stricter measures to prevent similar fraud cases, including enhanced scrutiny of permit applications and increased collaboration between departments. The Maharashtra government is also considering new legislation to curb fraudulent activities in the real estate sector.Read more
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