Page 25 - Mumbai

Arkade Developers aims Rs 2,150 cr revenue from 3 new projects in Mumbai

Arkade Developers Ltd will redevelop three residential projects in Mumbai and expects to generate a revenue of Rs 2,150 crore. In a statement on Monday, Arkade Developers said it has added three redevelopment projects in key micro-markets within western suburbs of Mumbai. Collectively, Arkade will develop 20,232 square metres (about 5 acres) across these redevelopment projects located in Andheri East, Malad West and Borivali West. "The projected saleable carpet area is approx 5.85 lakh sq ft, generating a projected turnover of Rs 2,150 crore," said the company, which recently got listed on the stock exchanges. Arkade Developers Chairman and Managing Director said, "Redevelopment is a crucial part of the Mumbai real estate growth journey and the brand's forte in the ever-evolving Mumbai skyline". "We have a robust pipeline of over 8 upcoming projects across MMR. We expect to witness a further uptick in societies partnering with us, owing to our exemplary delivery track record," he

New office space supply falls 6% across top 8 cities in 2024: Report

India's eight major office markets saw a 6 per cent annual decline in fresh supply of workspaces during 2024, even as the demand hit an all-time high, according to Cushman & Wakefield. Real estate consultant Cushman & Wakefield (C&W) data showed that new supply of office space stood at 451.5 lakh square feet in 2024 as against 477.9 lakh sq ft in the preceding year. New supply declined in Delhi-NCR, Pune, Chennai, Hyderabad, Kolkata and Ahmedabad, while it jumped in Mumbai and rose marginally in Bengaluru. Among cities, the new office space supply in Mumbai jumped more than 4 times to 83.2 lakh sq ft in 2024 from 20.5 lakh sq ft in the preceding year. In Bengaluru, the new supply grew to 133.4 lakh sq ft from 133.1 lakh sq ft. However, Delhi-NCR witnessed a 5 per cent fall in new supply to 46.8 lakh sq ft from 49.2 lakh sq ft. In Chennai, the new supply fell 59 per cent to 21.7 lakh sq ft from 53.3 lakh sq ft. Pune saw a dip of 27 per cent to 42.2 lakh sq ft from 57.4 lakh

CM Himanta to meet industry leaders in Mumbai for Assam business summit

Assam Chief Minister Himanta Biswa Sarma on Saturday said he will be in Mumbai for the next three days to meet industry leaders to explore areas of collaboration for an upcoming business conclave in the northeastern state. He will also participate in a roadshow to invite potential investors to Assam. For the next 3 days, I'll be in Mumbai to meet the leaders of India Inc and explore areas of mutual collaboration for the upcoming #AdvantageAssam 2.0 Summit. I will also participate in the Road Show to invite potential investors to the land of limitless opportunities Assam, Sarma wrote on X. The Advantage Assam conclave, to be held on February 24-25, will be inaugurated by Prime Minister Narendra Modi, the CM had recently said. The summit aims at creating an ecosystem that supports innovation, provides easier access to capital, removing bureaucratic hurdles to create an atmosphere for businesses and industries to be set up in Assam, Sarma had said. The state government is focusing o

Mumbai's Navy Nagar, Shivaji Nagar reports poor air quality of AQI over 200

The Brihanmumbai Municipal Corporation (BMC) on Friday said it was monitoring pollution levels in Navy Nagar and Shivaji Nagar as the Air Quality Index (AQI) in these areas has exceeded 200. It will implement the same measures in these two areas as implemented in Borivali East and Byculla where the air quality has improved, said municipal commissioner Bhushan Gagrani. An AQI between 200 and 300 denotes 'poor' air quality. "Currently we are keeping a watch on Navy Nagar and Shivaji Nagar," the commissioner said at a press conference. If the situation (AQI level above 200) remains unchanged, action such as stopping construction works will be taken, Gagrani added. Navy Nagar is located on the southern tip of Mumbai's Island City, while Shivaji Nagar is part of the eastern suburbs of the megapolis. Navy Nagar mainly houses defense installations, while the Deonar dumping ground and several other polluting establishments are located close to Shivaji Nagar. The AQI in Borivali East, a

Jawaharlal Nehru Port Authority's container traffic rises 12% in 2024

Government-owned container handling port Jawaharlal Nehru Port Authority (JNPA) saw an 11.99 per cent year-on-year rise in container traffic at 7.05 TEUs (Twenty-foot Equivalent Units) in 2024. The port handled 6.35 million TEUs of containers in 2023, JNPA said in a statement. The facility also handled the highest-ever cargo throughput at 90.27 million tonnes in the just-concluded year, which was 4.25 per cent more than the figure recorded in the preceding year ended December 2023, it said. According to the port, two of its terminals -- BMCTPL and APMT -- crossed the milestone of 2-million TEUs in container handling last year. BMCTPL handled 2.12 million TEUs, which is the highest-ever container handling by any terminal in a calendar year. JNPA has five container terminals -- Nahava Sheva FreePort Terminal (NSFT), Nhava Sheva International Container Terminal (NSICT), Nahava Sheva India Gateway Terminal (NSIGT), Bharat Mumbai Container Terminal (BMCT), and GTI-APM Terminal (APM).

Strong demand outlook to benefit Mumbai-based real estate players

For the nine-month period (April to December 2024), 1.04 lakh units were registered. This was 9 per cent more on a Y-o-Y basis and was valued at Rs 1.56 trillion

Mumbai property registrations hit 13-yr high in 2024 at over 141k units

Mumbai city municipal area saw an 11 per cent increase in registration of properties during 2024 calendar year at 1,41,202 units -- a 13-year high -- on strong housing demand, according to Knight Frank India. Mumbai city, under the jurisdiction of the Brihanmumbai Municipal Corporation (BMC), recorded 12,418 property registrations in December 2024, generating Rs 1,134 crore in revenue for the state exchequer, real estate consultant Knight Frank India said, citing the government data. Residential properties accounted for 80 per cent of the total registrations in December. In December 2023, there were 12,285 properties registered. "The total number of property sales registration for the year 2024 will reach 1,41,202 while revenue generated from property registrations for the year is estimated to stand at Rs 12,141 crore. Both these represent a new 13-year high," the statement said. "Property registrations for January to December 2024 grew by 11 per cent YoY, driving the fastest reve

Mumbai-based start-up Manastu tests green propulsion system in space

Mumbai-based space start-up Manastu Space on Wednesday said it had successfully test-fired its home-built thruster Vyom 2U onboard the PSLV Orbital Experimental Module-4 (POEM), tiling the platform by 24 degrees and imparting angular velocity before the onboard systems regained control. The POEM-4 platform, comprising the fourth stage of the PSLV-C60 rocket that launched the SpaDeX satellites on Monday, has been placed in an orbit at an altitude of 350 kms where several ISRO labs, start-ups and educational institutions will carry out in-orbit experiments. "We test-fired our green propulsion system Vyom-2U onboard the POEM-4 on the New Year's eve," Manastu Space founder and CEO Tushar Jadhav told PTI. He said the 30-second firing of the thruster tilted the PSLV POEM-4 platform by 24 degrees, imparting an angular velocity of 0.5 deg per second before onboard systems seamlessly regained control. "Over the coming days, PSLV will perform multiple critical maneuvers, culminating in 500

FIR for cheating registered against former trustees of Lilavati Hospital

Mumbai Police has registered a First Information Report against the former trustees of the Lilavati Hospital here for alleged cheating to the tune of Rs 85 crore. The FIR was registered on Monday at Bandra police station on a complaint by current trustee Mohit Suresh Mathur, said an official. Between 2000 and 2023, "purported trustees" Chetan Vijay Mehta, Rashmi Mehta and Bhavin Mehta allegedly seized control of the trust using fake documents, the complainant claimed. Money was withdrawn in the name of lawyers' fees, consultation charges and purchase of medicines and allegedly used for personal use, the complaint said. Mathur had moved a magistrate's court, seeking a direction to police to register an FIR. On the court's order, the FIR was registered for cheating and criminal breach of trust under relevant Indian Penal Code sections (as alleged offences took place prior to 2024), the police official said, adding that probe was underway. Comments from the hospital spokesperson as

Mumbai SEZ leasing rises sharply in 2024, reverses 3-year downward trend

The decline in SEZ leasing in recent years had been largely driven by the government's sunset clauses, which phased out tax benefits, making these zones less attractive to potential tenants

High security in Mumbai on New Year's eve, over 14,000 personnel deployed

More than 14,000 police personnel have been deployed in Mumbai as part of elaborate security arrangements to maintain law and order on New Year's eve, officials said on Tuesday. Large gatherings are expected at prominent places in the city, including Gateway of India, Marine Drive, Girgaon Chowpatty, Bandra Bandstand, Juhu and Versova beaches. Also, celebrations at various hotels, restaurants and malls are likely to continue till the wee hours of Wednesday. Hence, police have made arrangements for a strict vigil to avoid any untoward incident in the city, an official said. More than 12,000 police constables, 2,184 officers, 53 assistant commissioners, 29 deputy commissioners and eight additional commissioner-rank officers have been deployed as part of the security arrangements, he said. Police personnel in plain clothes will keep an eye at crowded places to avoid any untoward incident, he said. The New Year celebrations at many places will also be monitored through CCTVs, the off

The time when 'carpenter' Carter helped build 100 houses near Lonavala

For 100 low-income families near Lonavala, around 80 km from Mumbai, Jimmy Carter was a godsend as he had helped build their houses in 2006. For a week in October that year, the former US President and his wife Rosalynn worked alongside the families and about 2,000 international and local volunteers to build homes at Patan village near Lonavala, a popular hill station. The volunteers included Hollywood actor Brad Pitt and Bollywood actor John Abraham. The houses were built under the aegis of NGO Habitat for Humanity. Carter volunteered his carpentry skills and raised money to boost the organization's profile. Since 1984, Carter donated one week of his time and his building skills every year to the organization. Carter, who left the White House in 1980 at the end of his first and only term as US President, had said in an interview that his mother Lillian joined the Peace Corps when she was 67 and worked in a leper colony near Mumbai. "She was very near Bombay in a little village

Dharavi Redevelopment Project changes name to Navbharat Mega Developers

Company says it is to avoid being mistaken for the government authority in the same space, which is Dharavi Redevelopment Authority (DRA)

IndiGo's Mumbai-Istanbul flight cancelled due to technical glitch

Domestic carrier IndiGo on Saturday said it has arranged an alternative aircraft to fly the stranded passengers after its Mumbai-Istanbul flight of December 28, scheduled to depart at 6.55 am, had to be cancelled due to a technical glitch. The long delay prompted some of the passengers to vent their anger on social media. No food or even water was served and there was no representative from the airline willing to listen to their grievances, some passengers claimed. The alternative aircraft will depart for Istanbul at 11 pm, the airline said in a statement. "We regret that our flight 6E17, originally scheduled to operate from Mumbai to Istanbul, faced a delay due to technical issues. Unfortunately, despite our best efforts to rectify the issue and dispatch it to the destination, we eventually had to cancel the flight," IndiGo said in a statement. "Mumbai to Istanbul journey suspended after 10 hours waiting by passengers. Information that there are around 100 passengers in this ...

Electric ferry boat services between Mumbai, JNP to start from next month

The Jawaharlal Nehru Port Authority (JNPA) on Thursday announced the launch of electric ferry boat services connecting the port with Mumbai from January 2025. The services, which are aimed at bringing zero-emission environment-friendly ferry boat for the public and backed by Harit Sagar or the 'Green Port' initiative, will shorten the journey from Mumbai to the Jawaharlal Nehru Port (JNP) by 20 minutes, the JNPA said in a statement. The new boat also prioritises passage comfort with air-conditioned seating arrangements, improving the travel experience, it said. These 12-metre long, fibre reinforced polymer-material made ferry boats with a maximum speed of 12 knots can comfortably accommodate 20 to 24 passengers at a time, offering a seamless travelling experience with an easy online ticketing system and check-in options. Tickets will continue to be issued by the JNPA, the port operator said. The electric ferry boat services will be operated from the Gateway of India to the JNP in

Mandatory hi-security number plates in Maharashtra to cost Rs 531-879

As per SOP, the vehicle owner is responsible for getting HSRP and a third registration mark sticker installed by March 31, 2025

Pvt firm owner duped of Rs 7.5 c in SIM swap fraud, cops recover Rs 4.65 cr

Police have managed to freeze a sum of Rs 4.65 crore out of Rs 7.5 crore lost by the Mumbai-based owner of a private company in a SIM swap cyber fraud, officials said. In the SIM swap fraud, a form of identity theft, scammers trick the network provider into linking the mobile phone number of their target to a SIM card they have in possession and access to OTPs sent by the bank to the genuine person. It is a form of account takeover where cyber crooks gain access to a victim's phone number. This allows them to assume control over the victim's mobile identity, enabling unauthorised access to personal online accounts linked to the number. The private firm owner was duped for Rs 7.5 crore by cyber fraudsters in suburban Kandivali on Monday, officials said on Tuesday. The scamsters got the access of the company's bank account with the help of SIM swipe and made multiple unauthorised transactions, an official said, adding the money was then transferred to various bank accounts in a span

NCLAT clears Sapphire Media's acquisition of Big 92.7 FM, upholds order

The National Company Law Appellate Tribunal (NCLAT) on Monday upheld the approval of Sapphire Media's resolution plan for acquiring Big 92.7 FM, owned by Reliance Broadcast Network Limited, dismissing a batch of appeals filed by Radio Mirchi, Orange FM, and others.The NCLAT Bench, comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra, concluded, "After considering the submissions, we find no grounds to interfere with the NCLT's order dated May 6, 2024, and consequently, the appeals are dismissed."Earlier, the National Company Law Tribunal (NCLT) cleared Sapphire Media's resolution plan in a ruling on May 6, 2024, with the plan being filed for approval by the resolution professional in NCLT Mumbai.The decision made by the National Company Law Tribunal (NCLT) was contested by the unsuccessful bidders, Abhijit Realtors & Infraventure and Creative Channel Advertising & Marketing, who filed a set of five appeals before the NCLAT. The appellants claimed ..

Filmmaker Shyam Benegal passes away at 90 after prolonged illness

He breathed his last at 6.30 pm at Wockhardt Hospital, Mumbai

India can never permit others to have a veto on its choices: Jaishankar

External Affairs Minister S Jaishankar said on Saturday India can never permit others to have a veto on its choices and will do whatever is right in the national interest and for the global good without being intimidated to conform. In a video message for a function in Mumbai, he said when India is etched more deeply in global consciousness, its repercussions are truly profound. In a world grappling with unhealthy habits, stressed lifestyles or recurring climate events, there is much learning to be gained from India's heritage. But the world will only know when the countrymen take pride in it, he said. In an age of globalisation, technology and tradition must march together, said Jaishankar. Bharat will inevitably progress but it must do so without losing its Bharatiyata. Only then can we truly emerge as a leading power in a multi-polar world, he said. Jaishankar was conferred the 27th SIES Sri Chandrasekarendra Saraswati National Eminence Award. The awards are given in four field