Page 25 - Mumbai

PM Modi's Mumbai visit: Key events, traffic advisory, and route diversions

PM Modi is scheduled to visit Mumbai today for the inauguration of the Iskcon temple, the commissioning of naval warships, and meetings with BJP MLAs

Three naval warships commissioned in Mumbai; PM Modi attends event

The commissioning of three major naval combatants marks a significant leap forward in realising India's vision of becoming a global leader in defence manufacturing and maritime security

Major realty deal: K Raheja Corp buys prime Mumbai land for Rs 466 crore

The agreement includes the sale of all pieces and parcels of land along with an existing building on the 5.75-acre site

One year on, Atal Setu registers average daily traffic of 22,689 vehicles

India's longest sea bridge Atal Setu (formerly Mumbai Trans Harbour Link or MTHL), inaugurated a year ago, recorded an average traffic of fewer than 23,000 vehicles per day, lower than the initiation projections of handling more than 56,000 vehicles daily. Prime Minister Narendra Modi inaugurated the nearly 22-km-long bridge, which connects Sewri in Mumbai to Chirle in Navi Mumbai, on January 12, 2024, marking the completion of a major infrastructure project in the state. In a release on Monday, Mumbai Metropolitan Region Development Authority (MMRDA) said Atal Setu was "emerging as a symbol of modern infrastructure, safety, and efficiency". The bridge that crosses over the Thane creek facilitated the movement of 83,06,009 vehicles over the past year, significantly contributing to smoother and faster transit between Mumbai and Navi Mumbai, said the state-run agency. As per a MMRDA report, on an average 57,525 vehicles were projected to use the bridge daily by 2021 (the structure ..

BEST wet lease bus staff go on flash strike in Mumbai; some services hit

The contractual employees of a private operator hired by the Brihanmumbai Electric Supply and Transport undertaking went on a flash strike at one of the depots in Mumbai early Monday morning, partially affecting the BEST bus services. While BEST did not disclose the reason for the strike, sources said it was triggered by the alleged mistreatment of a pregnant woman conductor by officials of the private operator. A BEST official said the services were affected on a few routes as the strike was limited to the Pratiksha Nagar depot, while a union leader claimed more than 100 buses of the private operator remained off the road. Notably, BEST, which operates nearly 3,000 buses and serves more than 30 lakh passengers daily, has been without a general manager for more than a week. An additional commissioner of the Brihanmumbai Municipal Corporation (BMC) is currently holding charge of the position. BEST public relations officer Sudas Sawant told PTI that employees of the wet lease operat

Coldplay concert: HC dismisses PIL seeking rule against black marketing

The Bombay High Court on Friday dismissed a plea seeking guidelines to curb black marketing and ticket scalping at major events in the backdrop of the alleged foul play in the ticket sale process for British band Coldplay's concert in Navi Mumbai this month. A division bench of Chief Justice D K Upadhyaya and Justice Amit Borkar said the issues raised in the petition pertain to the legislative domain, and hence, the court cannot interfere. "This is a legislative and executive decision. The court cannot interfere. The government is at liberty to formulate legislation addressing the concerns raised in the petition," the court said. The bench said that in the absence of a clear statutory framework mandating the reliefs sought in the petition, it cannot direct legislation to be enacted or laws to be amended in a particular manner. "However, in the event that the competent authority (of the government) considers it necessary, they remain at liberty to take appropriate legislative or ...

BP partnership to boost ONGC revenue by $10.3 billion over 10 years

ONGC said TSP will receive a fixed fee for the first two years, followed by a service fee based on a percentage share of the revenue from net incremental hydrocarbon production

London-based BP wins ONGC contract to boost Mumbai High production

As Technical services provider, BP has promised to raise output by 60% at India's largest oilfield

SC tells Sebi to review development proposals for Sahara's Versova property

The court directed both the developers to deposit Rs 1,000 crore via a demand draft, saying it will not be encashed until the court takes a final decision in the matter

Actor Varun Dhawan acquires two apartments in Mumbai's Juhu for Rs 86.92 cr

The apartments are in Twenty by D'DECOR, a premium residential and group housing development located in Juhu

BluSmart expands its all-electric ride-hailing services to Mumbai

The service initially covers key areas such as Goregaon, Bandra, and the Bandra Kurla Complex (BKC), with plans for further citywide expansion

Housing sales up 7% in 2024 across top 8 cities at 350K units: Knight Frank

Housing sales rose 7 per cent annually in 2024 across eight major cities to reach 12-year high at 3,50,613 units on better demand for premium homes amid stable mortgage rates and strong economic growth, according to Knight Frank. Last month, real estate consultant Anarock had reported that housing sales declined 4 per cent in 2024 to nearly 4.6 lakh units across seven major cities. In a virtual conference on Tuesday, property consultant Knight Frank India Chairman and Managing Director Shishir Baijal noted that the Indian housing market saw a strong demand for homes priced between Rs 2-5 crore each. Hyderabad and Pune reached an all-time highs and Mumbai recorded a 13-year peak. "The higher ticket size segments drove momentum despite concerns of overheating, with the Rs 2-5 crore category witnessing an 85 per cent annual growth, although the sub-Rs 50 lakh and Rs 50 lakh-1 crore segments saw declining or fatigued sales," the consultant said. Baijal said the residential market has

'Real stock market money is with Gujjus.. Let that sink in': Nithin Kamath

Nithin Kamath: Ahmedabad and Mumbai account for 80 per cent of equity delivery trades, Nithin Kamath said on X

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