Mumbai Property News

Authorities have issued notices to seven slum settlements in Dharavi as part of the redevelopment process, marking an important step in identifying eligible residents and advancing one of Mumbai's largest urban renewal initiatives.

Around 19 large slum clusters across Mumbai are slated for redevelopment, signalling a major push towards urban renewal, improved housing, and infrastructure upgrades in the land-constrained city.

Calls are increasing for a stronger affordable rental housing framework in Mumbai, as rising housing costs and limited rental supply continue to challenge lower and middle-income residents.

The Maharashtra government has approved the acquisition of BSNL and MTNL land in Borivali, unlocking valuable urban land that could support future housing, public infrastructure, or planned development projects.

Developers contributed approximately ₹11,626 crore to the BMC through premiums, development charges, and related fees in FY26, highlighting the scale of construction and redevelopment activity across Mumbai.

Aristo Pharma has purchased office space in Mumbai's Andheri for approximately ₹111 crore, highlighting continued demand for premium commercial real estate in one of the city's most established business districts.

MIDC has invited tenders for a 338-acre redevelopment project in the Thane-Belapur industrial corridor, a move that could transform a large urban area through rehabilitation, infrastructure upgrades, and planned development.

Maharashtra is planning to involve private agencies in land survey work to reduce backlogs, improve record accuracy, and speed up property-related processes across the state.

MahaRERA has approved 1,060 new housing projects, reflecting robust project registration activity and a steady pipeline of new residential developments entering the market.

Andheri East emerged as Mumbai's highest property tax-contributing area in FY26, with Lower Parel close behind, reflecting the economic importance of the city's leading residential and commercial hubs.

Maharashtra has retained ready reckoner rates for the 2026-27 financial year, providing stability in property transaction costs and offering greater certainty to homebuyers, sellers, and developers.

Property registrations across the Mumbai region increased by about 3% in March 2026 compared to the same period last year, reflecting continued buyer confidence and steady demand across the market.