Page 10 - Mumbai

DLF to invest Rs 900 cr in Mumbai housing proj, eyes Rs 2,300 cr revenue

India's largest realty firm DLF Ltd has re-entered the Mumbai market and will invest around Rs 900 crore to develop a luxury housing project at Andheri (West), a senior company official said. In July 2023, DLF had announced its re-entry in the Mumbai market with plans to develop a luxury housing project in Mumbai in partnership with NCR-based builder Trident group. "We have launched a luxury housing project 'Westpark' in Mumbai comprising 416 apartments," DLF Home Developers Joint Managing Director Aakash Ohri told PTI. He said the company has launched this 5.18-acre project in a price range of Rs 42,000 per sq ft to Rs 47,000 per sq ft. It is selling flats in a range of Rs 4 crore to Rs 7.5 crore. Asked about the investment, Ohri said, "It will be around Rs 800-900 crore". The total sales realisation will be around Rs 2,300 crore, he added. Ohri said the initial demand has been very encouraging from customers. "We plan to sell around 200 units," he said, adding that the company

ED raids in UP, Mumbai in conversion racket case linked to Chhangur Baba

The Enforcement Directorate on Thursday raided multiple locations in Uttar Pradesh and Mumbai as part of a money laundering investigation into an alleged religious conversion racket linked to 'Chhangur baba', officials said. At least 14 premises, including 12 in Balrampur district and two in Mumbai, are being searched under the Prevention of Money Laundering Act (PMLA), they said. The raids were launched around 5 am, along with a Central Reserve Police Force (CRPF) team, which was there to provide security cover to the ED officials. The federal probe agency recently filed a case to probe the activities and financial details of Jalaluddin alias Chhangur Baba, alleged to be a mastermind of an illegal religious conversion racket operating in Uttar Pradesh. Jalaluddin hails from Balrampur district, and his real name is Karimulla Shah. Jalaluddin, his son Mehboob and associates Naveen alias Jamaluddin and Neetu alias Nasreen were arrested by the UP Anti-Terrorist Squad (ATS) recently,

Mumbai's RTO seizes around 78 bike taxis for illegal transport activities

The transport office has also taken action against 123 vehicles in Mumbai, Thane, Vasai, Vashi, and Panvel

Bollywood actor Salman Khan sells Bandra West apartment for ₹5.35 crore

Flat in Shiv Asthan Heights sold on July 15, includes three car parks; average rate in Bandra West rose 2.41 per cent year-on-year to Rs 59,163 per sq ft in Q1 CY25

Office demand in Navi Mumbai rises 40% in 2024, to grow further: CRE Matrix

Demand for premium office spaces in Navi Mumbai rose 40 per cent in 2024 to 5.8 million square feet, and the leasing activities are expected to increase further on affordable rent, according to CRE Matrix. Real estate data analytics firm CRE Matrix Co-founder and CEO Abhishek Kiran Gupta noted, "Navi Mumbai is one of the most affordable office markets across major 7-8 cities, with a weighted average rental of around Rs 65 per square feet." He said the demand has been rising in the key office micro-markets of the Mumbai Metropolitan Region (MMR). In the first six months of this calendar year, he said the gross leasing of office space in Navi Mumbai exceeded by nearly 0.8 million (8 lakh) square feet. "There is a huge demand for Grade A office space in Navi Mumbai from global and domestic corporates," he said. The demand will further rise because of the infrastructure development in this part of MMR, including the new airport, Gupta observed. Tata Realty & Infrastructure Ltd, K .

QS2026 rankings: Delhi, Mumbai, B'luru among top global cities for students

Delhi, Mumbai, Bengaluru and Chennai have ranked among the top 130 cities in the QS Best Student Cities 2026 list, with Delhi named the world's most affordable city for students

BSE gets bomb threat via email, turns out to be a hoax; FIR filed

Threat claimed four RDX bombs were planted in BSE tower; police, bomb squad found nothing after full sweep; FIR filed, probe underway to trace sender

Bullet train trial runs to be conducted on E5 Shinkansen trainsets

According to sources, the ministry's plan is to run Vande Bharat High-Speed trains on the Mumbai-Ahmedabad corridor first, but the eventual plan is to run Shinkansen trainsets

Suraj Estate launches residential project worth Rs 120 cr in Mumbai

Suraj Estate Developers has launched a luxury residential project with potential gross development value of Rs 120 crore in the financial capital of the country, according to an exchange filing. "Strategically located in Prabhadevi one of Mumbai's most sought-after residential neighborhoods the project has an estimated gross development value of Rs 120 crore, the filing stated. The new residential project addresses the growing demand for premium yet compact homes in a locality where new supply in such configurations remains limited, the Mumbai-based developer said. Designed as a 21-storey residential tower, Suraj Aureva offers 1, 2, and 3 BHK apartments at prices starting at Rs 2.47 crore, it added. The company plans to launch a mix of residential and commercial developments with the combined GDV of Rs 2,000 crore, contribution from pre-projects such as Park View 1, Lobo Villa in Mahim, JRU project in Byculla, and Shivaji Park project, in 2025-26.

Housing sales in MMR, Pune dip 30% to 42,000 units in June: PropTiger

Housing sales in Mumbai Metropolitan Region (MMR) and Pune together fell 30 per cent to 41,901 units during April-June period of this year as surge in prices dampened consumer demand, according to PropTiger. The combined housing sales in MMR and Pune, the two important property markets in Maharashtra, stood at 60,191 units in the year-ago period. On Monday, housing brokerage firm PropTiger released the data, which showed that sales in India's eight primary residential markets fell 14 per cent to 97,674 units during April-June this year, from 1,13,768 units in the corresponding period of the preceding year. "The short-term dip in home sales and new launches is more of a recalibration than a sign of waning demand. Affordability pressures, particularly in the budget and mid-income segments, have led to some cautious buyer sentiment," Sridhar Srinivasan, Head of Sales, PropTiger.com said. However, Srinivasan noted that the underlying demand remains intact. As per the data, the housing

Sena (UBT) demands 20% reservation for 'Marathi Manoos' in Mumbai buildings

The Shiv Sena (UBT) lawmakers on Friday demanded that 20 per cent houses in buildings in Mumbai be reserved for native Marathi speakers. Leader of Opposition in the legislative council Ambadas Danve and Milind Narvekar gave a letter with this demand to minister Shambhuraj Desai, who belongs to the rival Shiv Sena. "We demand 20 per cent of houses in buildings in Mumbai for Marathi Manoos," Nareveak said in a post on X. On Thursday, Narvekar had asked in the legislative council whether a social organisation had demanded that 50 per cent housing units in the city be reserved for the Marathi people, and if the government had taken any decision on it. In a written reply, deputy Chief Minister Eknath Shinde, who is also the Housing Minister, said his department had not received any such letter. Replying on behalf of Shinde, Mines Minister Shambhuraj Desai had said when the Maha Vikas Aghadi government led by Sena (UBT) chief Uddhav Thackeray was in power during 2019-2022, it did not br

Musk & Mumbai debut: EV maker Tesla to open first India store on July 15

Tesla will compete with its Chinese rival BYD, as well as domestic major Tata Motors in the Indian market

Tesla to open first India store in Mumbai on July 15, with more to follow

US electric automaker Tesla's Mumbai showroom will mark its India entry, with Delhi and other cities expected to follow as part of its expansion plan

Six Indian cities rank among Asia-Pacific's top 10 tech talent hubs

Bengaluru hosts the world's largest concentration of data scientists, Hyderabad leads in under-25 tech professionals, and Indian cities now account for 69 per cent of Asia-Pacific's total tech talent

Puravankara partners landowner to build ₹1K cr housing project in Bengaluru

Realty firm Puravankara Group on Thursday said it has partnered with a landowner to develop a housing project worth around Rs 1,000 crore at Balagere, in East Bengaluru. In a regulatory filing, the company informed that it has signed a joint development agreement (JDA) for a 5.5-acre land parcel in East Bengaluru, with an "estimated gross development value (GDV) of over Rs 1,000 crore." The land parcel offers a total combined saleable area of 0.83 million square feet. Puravankara did not mention the name of the landowner with whom it has signed the JDA and also did not disclose the revenue or profit sharing structure. The project, located in Balagere, is expected to be launched in the next 6-9 months. Ashish Puravankara, Managing Director of Puravankara, said, "This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city's most dynamic and promising micro-markets." Mallanna Sasalu, CEO - South, Puravankara Ltd, s

Heavy rains trigger yellow alert in Mumbai; Modak Sagar lake overflows

India Meteorological Department (IMD) issued a 'yellow alert' for Mumbai and coastal Maharashtra following incessant rain. Overflowing lakes signal improving water reserves

Illinois Tech's Mumbai campus aims for 300-student inaugural batch in 2026

India campus tuition fee may be a third of US campus fee

IL&FS moves NCLT to scrap Brookfield's Rs 1,080-cr bid for BKC property

The Infrastructure Leasing and Financial Services Ltd (IL&FS) has approached the National Company Law Tribunal (NCLT) to scrap the Canadian asset management firm Brookfield's Rs 1,080-crore bid for its flagship Bandra Kurla Complex property. IL&FS filed a petition in NCLT Mumbai bench on June 26, seeking to dismiss the Brookfield-backed bid for its flagship BKC property, the IL&FS Financial Centre (TIFC), citing bidder disqualification and non-compliance with bidding conditions. In its petition, IL&FS alleged that an affiliate of Brookfield, Chronos Properties, was required to maintain Performance Guarantee until the execution of definitive agreements. Chronos Properties failed to renew a Rs 108-crore Performance Guarantee, which expired in April, 2025, IL&FS said in the petition, adding that this entitles IL&FS to invoke the performance guarantees in addition to pursue remedies including disqualifying the bidder. "The failure to maintain its bid security has ..

Elderly woman in Mumbai duped of ₹1.15 cr by cyber fraudsters over 6 years

A 70-year-old woman from central Mumbai lost about Rs 1.15 crore to cyber scamsters, who posed as Income Tax (I-T) officials, over six years, police said on Wednesday. The incident came to light on Monday after the septuagenarian, a resident of the Worli area, filed a complaint with the Dadar police. The victim first received a call in May 2019 from a woman who claimed to be an I-T official and told her that the department wanted to return her deceased husband's money, the police said. The complainant was asked to clear "pending" taxes and various penalties accrued against her husband's name to get back his money, the official said. Believing the caller, the woman started depositing money into the accounts provided by the fraudsters, he said. Over six years, the complainant shelled out over Rs 1.15 crore in 50 transactions, but never received any money from the I-T department, he said. The woman recently shared the episode with her relatives, who told her that she was being conne

Keystone Realtors chosen for ₹3K cr cluster redevelopment project in Mumbai

Five DAs signed and three LoIs in place for 4.75-acre cluster project in Lokhandwala, giving Rustomjee 10.6 lakh sq ft saleable area in key Mumbai residential zone