Mumbai Property News

The retail landscape in major Indian cities is witnessing a troubling trend, with a significant increase in vacant retail spaces within abandoned shopping malls. A recent report highlights that the number of shopping malls classified as 'Ghost Shopping Centers' has risen sharply, indicating a gro

The Brihanmumbai Municipal Corporation (BMC) has reported a significant property tax collection of Rs 3,905 crores for the fiscal year 2023-24, with a revised target set at Rs 4,500 crores. This initiative reflects the BMC's ongoing efforts to enhance revenue collection through property taxes, wh

Venkata Narayana K, the chief executive officer of Prestige Estates Projects, has announced his resignation to focus on personal endeavors. His departure marks a significant transition for the company, which is recognized as one of the leading real estate developers in India. Background

K Raheja Corp is set to redevelop SOBO Central Mall, the first mall in India, into a luxury residential complex in south Mumbai. This transformation will take place in the prestigious Haji Ali locality, where the mall has been a landmark since the late 1990s. The redevelopment aims to create a 50

Bollywood icon Amitabh Bachchan has made headlines with his recent acquisition of a land parcel in Alibaug, a coastal town near Mumbai. This purchase is part of his plan to construct a luxury villa in this popular beachside area, which is known for attracting affluent personalities. The transacti

Macrotech Developers is set to significantly increase its investment in construction projects, planning to allocate over Rs 5,000 crore in the current fiscal year. This move aligns with the company's strategy to meet the growing housing demand and expand its market presence. Investment S

Brookfield Asset Management has announced plans to invest over $10 billion in India's real estate sector within the next three to five years. This significant commitment reflects the firm's confidence in the growth potential of India's dynamic real estate market and aims to capitalize on the oppo

February 2024 marked a significant milestone for Mumbai's real estate market, showcasing a robust performance characterized by a notable surge in property registrations. The state’s Inspector General of Registration (IGR) reported a total of 11,742 registrations, reflecting a substantial 21% incr

In South Mumbai, the practice of charging transfer fees by housing societies has come under scrutiny, particularly as these fees often exceed the legal cap of Rs 25,000. Despite this regulation, reports indicate that societies are demanding significantly higher amounts, ranging from Rs 10 to 30 l

Mahindra Lifespace Developers is setting ambitious goals for its future growth in the real estate sector. The company plans to achieve a five-fold increase in pre-sales over the next five years, supported by a robust project pipeline with a development value exceeding Rs 45,000 crore. This strate

The Maharashtra government is aiming to enhance the usage of Metro and monorail services by introducing a new Regulation 33(23) focused on transit-oriented development (TOD) zones within the city's Development Control and Promotion Regulations - 2034. These TOD zones will be established wit

Maharashtra Chief Minister Eknath Shinde recently inaugurated the foundation laying for Metro Line 12, a crucial step in enhancing the infrastructure of the Mumbai Metropolitan Region (MMR). This new metro line will connect Kalyan with Taloja in Navi Mumbai and is part of the larger Metro Line-5