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Mahindra Lifespace Plans Redevelopment Of Four Mumbai Societies Worth 800 Crore
Bollywood icon Amitabh Bachchan Acquires Three Alibag Plots Worth Over Six Crore Rupees
Mumbai’s luxury real estate market witnessed a high-profile transaction as Bollywood icon Amitabh Bachchan acquired three adjoining plots in Alibag, Raigad district, for a combined value exceeding ₹6.6 crore. The properties, located in HOABL Alibag Phase 2, were transacted through HOABL Landbuild Pvt Ltd, with registration formalities completed on October 7, 2025.
The acquisition includes Plot No. 98 measuring 2,734 sq. ft, purchased for ₹1.88 crore with a stamp duty of ₹11.32 lakh; Plot No. 97 measuring 2,776 sq. ft, acquired at ₹1.92 crore with a stamp duty of ₹11.52 lakh; and Plot No. 96 measuring 4,047 sq. ft, bought for ₹2.78 crore with ₹16.74 lakh as stamp duty. Collectively, the built-up area of the three plots totals 9,557 sq. ft, reflecting the continued demand for premium coastal properties. Alibag, known for its pristine beaches and proximity to Mumbai, has become a preferred destination for high-net-worth individuals, industrialists, and celebrities seeking second homes or investment properties. Market experts suggest that the town’s appeal lies in its balance of serene coastal living and accessibility to Mumbai, making it a top choice for luxury real estate buyers.
Officials note that the recent purchase underlines a sustained surge in demand for high-value land parcels in Raigad district. Analysts indicate that the trend is part of a broader movement of affluent individuals seeking coastal retreats amid the city’s rising congestion and real estate price inflation. The transaction also highlights evolving investor strategies, where celebrities increasingly diversify portfolios into prime real estate assets. The acquisition is expected to further raise Alibag’s profile as a luxury residential hub and could influence future pricing trends for coastal plots in the region.
Experts emphasise that while such high-value transactions draw public attention, they also have implications for sustainable development in sensitive coastal zones. Urban planners and environmental authorities continue to advocate for eco-friendly and regulated construction practices to preserve the region’s natural heritage while accommodating luxury projects. With this acquisition, Amitabh Bachchan strengthens his presence in India’s high-end real estate market, joining other prominent investors and reflecting the ongoing trend of celebrity-driven property investments. Alibag’s premium coastal plots continue to attract interest, reinforcing the area’s reputation as a coveted residential and holiday destination for elite buyers.
Bollywood icon Amitabh Bachchan Acquires Three Alibag Plots Worth Over Six Crore Rupees
Mumbai Approves Redevelopment Of 17 Old PMGP Buildings In Andheri East
Mumbai has taken a decisive step towards urban renewal with the long-awaited approval for the redevelopment of 17 severely dilapidated PMGP buildings in Poornanagar, Andheri East. City officials confirmed that redevelopment work will commence after December, with residents to receive a lump-sum rent equivalent to three years, ensuring transitional support during construction.
The decision emerged from a strategic meeting between senior municipal officials and the Maharashtra Housing and Area Development Authority (MHADA), aimed at addressing 40 pending housing and infrastructure issues across the Mumbai North-West Lok Sabha constituency. Redevelopment of the Poornanagar PMGP buildings is among several key initiatives designed to provide safer, modern, and sustainable housing for residents. Officials outlined comprehensive redevelopment and rehabilitation plans, including the intervention in ongoing Meghwadi Sarvodaya Nagar cases, the development of the Khadakpada plot in Malad, and the demolition and reconstruction of the Samarth Nagar transit camp. Additional plans include phased redevelopment of Buildings 4 to 21 in Vanrai Colony, while MHADA has also secured state cabinet approval for projects in Aram Nagar.
The redevelopment of Poornanagar buildings will incorporate modern construction techniques and sustainable practices aimed at reducing environmental impact. Experts highlight that upgraded structures are expected to be more energy-efficient, utilise eco-friendly building materials, and improve waste and water management systems, aligning with the city’s broader zero net carbon objectives. Attendance at the meeting included senior MHADA officials, executive engineers, and former city corporators, ensuring a collaborative approach to urban planning and governance. Officials emphasised that once completed, the redevelopment will transform Andheri East’s housing landscape, providing secure, modern homes and revitalising public spaces in one of Mumbai’s most densely populated suburbs.
Urban development experts note that timely execution of such projects is critical not only for housing safety but also for improving residents’ quality of life. Properly planned redevelopment initiatives can reduce urban congestion, promote equitable access to housing, and integrate green building standards into densely populated city sectors. While the announcement is a welcome step for residents, city authorities stress the importance of maintaining timelines and adhering to environmental standards. The redevelopment of Poornanagar PMGP buildings is expected to serve as a model for future MHADA projects, combining social welfare, urban renewal, and sustainability objectives.
Mumbai Approves Redevelopment Of 17 Old PMGP Buildings In Andheri East
Crisil Leases 2.5 Lakh Sq Ft Mumbai Office Space, Paying 597 Crore Over 15 Years
Crisil, a leading global analytics and ratings firm, has secured a 15-year lease for 2.5 lakh square feet of prime office space in Lightbridge, Saki Vihar, Mumbai, signalling a major commitment to consolidating its Mumbai operations. The lease, valued at ₹597.3 crore over the tenure, underscores the robust demand for premium commercial real estate in the city’s key micro-markets.
The company has leased floors 10 through 15 in the property and will pay a monthly rent of ₹2.35 crore, equivalent to ₹94 per square foot per month, with an annual escalation of 4.77 per cent. In addition, Crisil has deposited ₹38.20 crore as a security deposit with the landlords, Nathan Properties Private Limited and Gamma Construction Private Limited. The lease commenced on August 31, 2025, and reflects confidence in Mumbai’s commercial real estate resilience amid sustained corporate expansion. Meanwhile, Powai continues to attract office tenants, as Cowrks, a co-working operator under Brookfield, has leased 1.76 lakh square feet at Crisil House (One Downtown Central). The seven-month lease, which began on September 1, 2025, covers the ground floor and floors three to nine from Kairos Properties Private Limited. Cowrks will carry out fit-out works to provide managed office services, paying a monthly rent of ₹3.88 crore, translating to ₹220 per square foot.
Saki Vihar, historically a hub for multinational and domestic corporates, has seen its office rental rates rise modestly to ₹132 per square foot per month as of October 2025, up from ₹130 in the previous year. Powai, another key commercial micro-market in the Mumbai Metropolitan Region, has also recorded a steady increase, with rents climbing from ₹121 to ₹131 per square foot per month over the same period. Experts suggest this growth is driven by demand for high-quality office spaces that integrate modern amenities, connectivity, and sustainability features. Commercial real estate analysts note that large corporate leases, such as Crisil’s, highlight the continued attractiveness of Mumbai’s office markets despite broader economic fluctuations. The deal also signals a shift towards long-term lease agreements by firms seeking operational stability, especially in micro-markets like Saki Vihar and Powai, which provide strategic access to talent pools, infrastructure, and transport networks.
The sustained interest from multinational firms, co-working operators, and analytics companies reinforces Mumbai’s position as a key commercial hub in India, while reflecting the evolving needs of corporates for flexible, premium, and technologically enabled office spaces. The Crisil lease, in particular, exemplifies the city’s high-value corporate real estate transactions and sets a benchmark for future large-scale leases in the metropolitan region.
Crisil Leases 2.5 Lakh Sq Ft Mumbai Office Space, Paying 597 Crore Over 15 Years
Navi Mumbai CIDCO Auctions 30 Prime Leasehold Plots Near Airport
The City and Industrial Development Corporation (CIDCO) has announced an e-auction of 30 leasehold plots strategically located near the upcoming Navi Mumbai International Airport (NMIA), signalling a significant push in the city’s real estate and infrastructure development. The auction includes eight high-value bungalow plots in Kharghar, collectively pegged at over ₹40 crore, alongside plots earmarked for residential, commercial, and mixed-use purposes, as well as for storage and warehouse operations.
Officials highlighted that the plots are spread across key nodes including Kharghar, Airoli, Nerul, Dronagiri, New Panvel, Kopar Khairane, Sanpada, and Kamalboli. The diverse allocation aims to support urban expansion while attracting private investment to enhance Navi Mumbai’s real estate ecosystem. The plots are strategically positioned within 30 to 45 minutes of the new NMIA, which is expected to commence commercial operations by December 2025, following its recent inauguration. The largest plot up for auction measures 41,994 square metres and is designated for both residential and commercial development, carrying a base reserve price of ₹3.51 lakh per square metre. The bungalow plots, ranging from 400 to 500 square metres each, are priced at ₹1.25 lakh per square metre, reflecting the high-value demand for premium housing near the airport. Four plots have been allocated for mixed residential and commercial use, four for strictly commercial purposes, and the remaining plots are dedicated to storage and warehousing.
Urban planners emphasised that this auction represents more than a real estate opportunity; it is a step towards creating a connected, sustainable urban environment around Navi Mumbai. “The proximity to the international airport ensures high strategic value for both commercial and residential development. The designations allow for integrated urban growth while supporting eco-friendly and smart infrastructure planning,” said an official from CIDCO. The online e-auction will take place on October 16, with results scheduled for October 17. Applications can be submitted via CIDCO’s dedicated e-auction portal. Experts anticipate that the project will stimulate economic activity in the region, catalyse private sector participation, and contribute to creating a more equitable and well-planned cityscape.
Real estate analysts noted that with NMIA becoming operational, the auctioned plots are likely to witness strong competitive bidding, particularly for high-value bungalow plots in Kharghar and mixed-use plots offering strategic commercial advantages. The development aligns with broader city planning objectives, including low-carbon urban growth and sustainable land utilisation, ensuring long-term benefits for residents and investors alike. By linking premium real estate with critical infrastructure such as NMIA, CIDCO is positioning Navi Mumbai as a future-ready urban hub that balances economic growth with sustainable, equitable urban planning.
Navi Mumbai CIDCO Auctions 30 Prime Leasehold Plots Near Airport
Maharashtra Cabinet Approves Major Slum Redevelopment Scheme For Mumbai
The Maharashtra Cabinet has approved a comprehensive slum cluster redevelopment scheme aimed at transforming Mumbai’s informal settlements into integrated housing projects, providing improved living conditions while modernising urban infrastructure. The initiative, to be implemented by the Slum Rehabilitation Authority (SRA), is expected to accelerate large-scale redevelopment, attract private investment, and generate employment in construction and allied sectors, contributing to the city’s sustainable economic growth.
Officials stated that the redevelopment scheme will focus on converting slum clusters into well-planned residential complexes. The project aims to address urban congestion, improve public amenities, and ensure equitable access to safe housing for low-income families. By integrating modern housing solutions with essential infrastructure upgrades, the programme aligns with broader efforts to create environmentally sustainable and socially inclusive urban spaces in Mumbai. The Cabinet also approved a state-wide sewage treatment and reuse policy covering 424 urban local bodies. The policy emphasises circular economy principles, ensuring treated wastewater is reused for municipal and industrial purposes, thereby reducing environmental impact and promoting resource efficiency. Experts noted that such measures are crucial for maintaining ecological balance in rapidly urbanising areas while supporting long-term water security.
In addition, the government sanctioned 2.38 hectares of land at Mouza Badnera for the Amravati Municipal Corporation to establish an e-bus depot and associated charging infrastructure under the Centre’s PM-E Bus Scheme. Officials highlighted that this move would strengthen urban mobility, accelerate the adoption of green transport solutions, and reduce carbon emissions across the state’s cities. Education and workforce development also featured in the Cabinet’s decisions, with the Modified Assured Career Progression (MACP) scheme extended to non-teaching staff at 980 aided residential ashram schools. This initiative benefits children from OBC communities and families of sugarcane workers, ensuring equitable professional growth for school staff and indirectly improving educational outcomes.
Furthermore, the Cabinet approved the creation of a senior civil court in Akole, Ahilyanagar district, along with the requisite posts for its functioning, addressing legal accessibility in the region. An amendment to the Maharashtra Prevention of Fragmentation and Consolidation of Holdings Act, 1947, was also cleared to prevent land fragmentation and strengthen consolidation measures, ensuring sustainable land management practices. Urban development analysts highlighted that these combined initiatives demonstrate the state’s commitment to equitable growth, sustainable urbanisation, and improved quality of life. By linking housing, mobility, water management, and legal reforms, Maharashtra aims to create future-ready cities that are inclusive, eco-friendly, and resilient.
The integrated approach, experts say, reflects a forward-looking urban policy model that balances infrastructure growth with social equity and environmental sustainability, providing a blueprint for other metropolitan regions in India.
Maharashtra Cabinet Approves Major Slum Redevelopment Scheme For Mumbai
CIDCO Plans To Complete Navi Mumbai Aerocity Master Plan In Three Months
Navi Mumbai is poised for a transformative phase as the City and Industrial Development Corporation (CIDCO) moves ahead with plans for the highly anticipated Aerocity next to the upcoming Navi Mumbai International Airport (NMIA). Spanning 667 acres, the Aerocity is expected to feature integrated residential, commercial, retail, industrial, and mixed-use developments, with the master plan likely to be finalised within the next three months, officials indicated.
CIDCO is in the process of appointing a consultant to prepare the detailed master plan and advise on strategic transactions for the project. In addition to the Aerocity, the authority is actively pursuing proposals for an Educity, a Medicity, and an International Corporate Park within a 10-kilometre radius of NMIA. The integrated vision aims to create a multi-dimensional hub that blends education, healthcare, aviation-linked businesses, and global enterprises, establishing Navi Mumbai as a significant commercial and innovation centre. According to CIDCO officials, the Aerocity’s land allocation will likely include around 123 acres each for residential, commercial, and retail developments, while the remaining land will support mixed-use and industrial projects. These complementary developments are anticipated to boost real estate prospects across Navi Mumbai, creating new job opportunities and encouraging business growth in the region.
“The proposed Aerocity and associated precinct developments are expected to drive investment and urban expansion, positioning the airport hub as a key economic engine for the city,” said an official involved with the project. Experts in urban planning and real estate concur, noting that such integrated infrastructure projects could redefine Navi Mumbai’s urban and economic landscape. The Maharashtra government has accelerated work on these initiatives in line with NMIA’s commercialisation strategy. With the airport itself slated for inauguration this week, the Aerocity plan marks a crucial step in shaping Navi Mumbai’s next phase of growth. Analysts predict that the project will encourage sustainable urbanisation by promoting mixed-use developments, supporting public transport connectivity, and integrating eco-friendly urban design principles.
Real estate specialists also highlight the potential of Aerocity to attract domestic and international investors, given its strategic proximity to the airport and integrated commercial facilities. The focus on sustainable and equitable development, combined with robust urban planning, could set a benchmark for future city expansion in India. With master plan finalisation expected in the coming quarter, stakeholders and investors are closely monitoring progress. The success of the Aerocity, along with supporting initiatives like Educity and Medicity, could serve as a model for smart, sustainable urban growth aligned with global best practices.
Also Read : NGT Mandates CIDCO Forest Department To Rehabilitate Three CRZ Locations In Raigad
CIDCO Plans To Complete Navi Mumbai Aerocity Master Plan In Three Months
NGT Mandates CIDCO Forest Department To Rehabilitate Three CRZ Locations In Raigad
The National Green Tribunal’s Western Zone Bench in Pune has directed the City and Industrial Development Corporation (CIDCO) and the Maharashtra Forest Department to restore three ecologically sensitive Coastal Regulation Zone (CRZ-1) sites in Raigad district within one month. Officials are required to submit a detailed compliance report following the restoration work.
The move follows a petition filed by the Maharashtra Small Scale Traditional Fish Workers Union seeking protection and revival of Dhutum, Gavhan Koliwada, and Kegaon beach. The tribunal expressed dissatisfaction with partial measures taken by CIDCO, including incomplete removal of unauthorised constructions and inadequate action against waste dumping. The Bench, comprising a judicial and an expert member, underscored that CIDCO had only partially cleared unauthorised structures at Dhutum, questioning why complete restoration had not been enforced. The tribunal further emphasised that any dumped waste at Kegaon beach must be promptly removed, and CIDCO was instructed to file a comprehensive affidavit within four weeks detailing the action taken against responsible parties.
At Gavhan Koliwada, officials reported lodging an FIR against unidentified individuals for illegal garbage dumping, yet the tribunal noted no substantial steps had been taken to restore the site. Meanwhile, at Kegaon beach, the Divisional Forest Officer confirmed that boulders obstructing the site had been cleared and restoration efforts were ongoing. The tribunal granted the Forest Department one month to complete the process. The District Collector of Raigad, who was expected to provide updates on the progress, sought an adjournment for medical reasons. The tribunal allowed the request but set a strict deadline of four weeks for submission of the report.
An expert in environmental governance highlighted that timely compliance is critical, as delays in restoring CRZ areas can have long-term ecological impacts, including habitat loss, soil erosion, and water pollution. “Restoration of these sites is crucial not only for local biodiversity but also for sustaining the livelihoods of traditional fishing communities,” the official stated. The union representing fish workers emphasised that delays in uploading tribunal orders online have impeded public oversight, noting that the original order issued in July had not been made publicly available for over a month. Such delays, they argued, undermine environmental accountability and hinder enforcement of legal protections.
The NGT’s intervention reflects growing judicial scrutiny over coastal management in India, signalling an emphasis on sustainable urban planning and zero-carbon coastal ecosystems. By mandating prompt action from CIDCO and the Forest Department, the tribunal aims to ensure both ecological conservation and community interests are prioritised in Raigad’s rapidly developing coastal zones.
NGT Mandates CIDCO Forest Department To Rehabilitate Three CRZ Locations In Raigad
Maharashtra Moves To Regularise Non-OC Buildings Amid Safety Concerns
The Maharashtra government has announced a new policy aimed at regularising buildings lacking an Occupation Certificate (OC), citing delays in land transfers and administrative approvals as reasons beyond residents’ control. While the move is expected to benefit lakhs of homebuyers across the state, experts and urban planners have raised concerns that the policy could dilute builder accountability and allow repeated violations to persist unchecked.
The policy comes against a backdrop of growing unauthorised constructions in Mumbai and other major cities. According to a senior civic official, the state intends to provide relief to residents who have already occupied properties legally approved but where the final OC was delayed due to administrative processes. However, this approach raises questions about long-term urban safety and compliance. Supreme Court guidelines highlight the risks associated with such regularisation. An order dated 17 December 2024 emphasises that state governments, while condoning violations, often prioritise revenue gains over sustainable urban planning. The ruling mandates periodic inspections of premises and directs authorities to withhold services such as electricity and water connections until the OC is formally issued.
Architects and urban planners have sounded alarms over the policy’s potential loopholes. A senior urban planner explained, “Many non-OC buildings already violate Floor Space Index limits, lack mandatory open spaces, or have unauthorised service connections. Builders often operate in collusion with officials and exploit regulatory gaps. Without strict oversight, regularisation may legitimise these breaches, jeopardising resident safety.” Experts also pointed out that existing regulations under the Maharashtra Ownership Flats Act and the Real Estate Regulation and Development Act (RERA) already prohibit possession in the absence of an OC. The new policy, they argue, must include mechanisms to hold defaulting builders accountable, recover costs for irregularities, and prevent repeated circumvention of the law through proxy companies.
Local authorities’ lax inspections exacerbate the problem. Civic experts have noted that junior engineers and building proposal departments frequently fail to monitor ongoing constructions effectively, allowing violations to go unchecked. Practising engineers and urban planning associations highlighted that the proposed amnesty is primarily applicable to older buildings that have been occupied for years, where most approvals are in place but formal OC compliance remains pending. While the policy may offer short-term relief to affected residents, experts emphasise the need for rigorous inspections, disciplinary action against erring officials, and strict enforcement to prevent future violations. Urban planners urge that the government prioritise resident safety and sustainable city planning over administrative expediency.
The move underscores the delicate balance between urban housing needs and regulatory compliance in Maharashtra, highlighting that relief measures must be coupled with accountability to ensure the long-term safety and orderly development of the city.
Maharashtra Moves To Regularise Non-OC Buildings Amid Safety Concerns
Delhi-NCR Reports Highest Housing Price Growth Twenty Four Percent Among Seven Cities
