Property Prices Rise in 45 Cities as Home Loan Rates Ease in Q1 FY26
CIDCO Advances 667 Acre Navi Mumbai Aerocity Ahead Of Airport September Launch
As the Navi Mumbai International Airport (NMIA) gears up for operations in September 2025, the Maharashtra government has accelerated development plans for a 667-acre Aerocity adjacent to the airport. The City and Industrial Development Corporation (CIDCO) has issued tenders to appoint a consultant for preparing the Master Plan and providing transaction advisory services, signalling a decisive push to integrate residential, commercial, and industrial spaces in a strategically planned urban zone.
CIDCO officials indicated that the Aerocity will allocate approximately 123 acres each for residential, commercial, and retail use, with additional land reserved for mixed-use and industrial developments. A detailed techno-economic feasibility study will underpin the Master Plan, assessing financial viability, infrastructure requirements, and sectoral potential. The envisioned development aims to integrate corporate offices, financial services, aero-centric warehousing, hotels, hospitals, educational institutions, and entertainment facilities, creating a self-sufficient urban ecosystem. The Master Plan will be closely aligned with existing and planned transport and infrastructure projects, including the Navi Mumbai Airport Influence Notified Area (NAINA), the Mumbai Trans Harbour Link (MTHL or Atal Setu), Navi Mumbai Metro Lines, suburban rail expansions, and key port and highway networks. The appointed consultant will also analyse urban development patterns, real estate trends, and projected demand to ensure sustainable growth and long-term investment potential.
CIDCO, which has overseen Navi Mumbai’s planned development since the 1970s, has successfully managed the creation of 14 nodes combining residential, commercial, and retail zones. The land designated for the Aerocity was acquired alongside the airport project, ensuring integrated urban planning from the outset. Developers and urban planning experts have noted that the Aerocity offers a rare opportunity to create a large-scale, well-planned development in contrast to congested and unstructured areas of Mumbai. Industry officials highlight the strategic appeal of NMIA’s proximity to Mumbai and Pune, attracting both aviation professionals and investors seeking long-term capital appreciation. Observers draw parallels with successful airport-adjacent developments in Mumbai, including Juhu, Vile Parle, and Santacruz, where infrastructure-led planning has significantly enhanced property values.
The Navi Mumbai Aerocity is set to join India’s growing network of airport-linked urban hubs, following examples in Delhi, Hyderabad, Mohali, Durgapur, Jewar, Ayodhya, and Devanahalli. These Aerocities leverage airport connectivity to foster corporate offices, logistics centres, and integrated residential communities, driving sustainable, inclusive, and future-ready urbanisation.
Bollywood Actor Sonu Sood Sells Mahalaxmi Apartment For Rs 8.1 Crore
Bollywood actor Sonu Sood has reportedly sold his luxury apartment in Mahalaxmi, Mumbai, for Rs 8.1 crore, marking a significant appreciation from its 2012 purchase price of Rs 5.16 crore, according to property records reviewed by industry experts. The sale, officially registered in August 2025, reflects sustained demand in South Mumbai’s premium residential segment, driven by location, infrastructure, and lifestyle appeal.
The apartment, located in the upscale Lokhandwala Minerva tower, spans a carpet area of 1,247 sq. ft. (116 sq. m.) with a built-up area of 1,497 sq. ft. (139 sq. m.). The premium property also comes with two dedicated car parking spaces. Stamp duty charges of Rs 48.60 lakh and registration fees of Rs 30,000 were part of the transaction, adding to the overall cost for the buyer. Experts note that Mahalaxmi, situated in South Mumbai, remains one of the city’s most coveted residential addresses. The neighbourhood combines commercial, cultural, and recreational amenities with excellent connectivity to business hubs such as Lower Parel, Worli, and Nariman Point, making it a preferred choice for working professionals and business leaders alike.
Lokhandwala Minerva, where Sood’s apartment is located, spans 1.95 acres and houses 372 premium residences with 3-BHK and 4-BHK configurations ranging from 2,019 sq. ft. to 2,136 sq. ft. Analysts describe it as one of South Mumbai’s most prestigious projects, known for luxury finishes, sea-facing views, and high-quality construction. From a real estate perspective, the property’s 13-year value appreciation of nearly Rs 3 crore underscores strong long-term returns in South Mumbai’s prime residential segment. Industry officials attribute this growth to consistent demand, limited supply, and the area’s strategic location near key commercial corridors.
Sood’s career trajectory further adds to the apartment’s appeal. Making his acting debut in 1999 with Tamil films, he transitioned to Bollywood in 2002 with Shaheed-E-Azam, portraying Bhagat Singh. Over the years, Sood earned recognition in mainstream Hindi cinema with major roles in blockbusters like Dabangg (2010) and Simmba (2018). His pan-Indian filmography across Telugu, Tamil, and Kannada industries has elevated his public profile, making properties associated with him a notable market indicator. For real estate analysts, transactions such as this highlight the continuing attractiveness of Mumbai’s luxury property market, which blends lifestyle, location, and long-term capital appreciation. Observers note that premium units in neighbourhoods like Mahalaxmi remain resilient even during market slowdowns, reflecting buyer confidence in high-quality, well-connected developments.
Bollywood Actor Sonu Sood Sells Mahalaxmi Apartment For Rs 8.1 Crore
Navi Mumbai Becomes Major Office Hub With 238 Million Sq Ft Space
Navi Mumbai is rapidly establishing itself as a key commercial destination within the Mumbai Metropolitan Region (MMR), with 23.8 million sq ft of Grade A office space currently operational. This accounts for nearly 20% of MMR’s total office supply of 120 million sq ft, according to a recent industry report by Cushman & Wakefield. With an occupancy rate of 87%, the city is attracting both national and global enterprises, driven by cost efficiency, robust infrastructure, and an abundant talent pool.
The report highlights that Navi Mumbai is expected to add approximately 4 million sq ft of office space by FY2028, reflecting sustained developer confidence and growing demand from occupiers. Officials note that the city’s proximity to educational institutions provides access to nearly 150,000 skilled graduates annually, making it an attractive location for knowledge-driven enterprises and Global Capability Centers (GCCs). Cost competitiveness is a key differentiator. Average quoted rents in Navi Mumbai are around ₹70 per sq ft per month, approximately 57% lower than prime MMR sub-markets. This pricing, combined with modern office infrastructure, enables companies to achieve operational efficiencies without compromising on quality. Surveyed GCCs highlighted that talent availability, cost-effective Grade A office space, and reliable infrastructure are the top three factors influencing their location strategy—criteria that Navi Mumbai meets comprehensively.
Infrastructure developments further strengthen the city’s appeal. The upcoming Navi Mumbai International Airport, scheduled for late 2025 with an initial capacity of 20 million passengers, will enhance national and international connectivity. Key road projects, such as the Kharghar–Turbhe Tunnel and Palm Beach Road extension, are expected to significantly improve intra-city and regional access, further supporting the growth of commercial real estate. Experts point out that Navi Mumbai’s integrated urban planning, encompassing residential diversity from budget to premium housing, green corridors, and scalable commercial frameworks, aligns with the broader agenda of sustainable, inclusive, and future-ready urban development. By offering a well-planned ecosystem, the city addresses both enterprise requirements and quality-of-life considerations for employees, which is increasingly influencing corporate location decisions.
According to the report, India’s GCC sector is expanding rapidly, with its share of leasing projected to increase from 23% in 2023 to 29% by 2025. Navi Mumbai’s infrastructure, cost-effective supply, and access to a skilled workforce position it as a vital component of MMR’s evolving office ecosystem. Analysts believe the city is poised to absorb the next wave of real estate growth while maintaining a sustainable and equitable urban framework. As Mumbai’s urban corridors evolve and infrastructure investments unlock new commercial opportunities, Navi Mumbai is emerging as a strategic hub for businesses seeking cost-efficient, high-quality office space in a well-connected and environmentally conscious urban setting.
Navi Mumbai Becomes Major Office Hub With 238 Million Sq Ft Space
PVR Inox Secures 43500 Sq Ft Retail Space At Borivali Sky City Mall
Mumbai’s retail and entertainment landscape is witnessing a significant boost as PVR Inox Ltd secures 43,534 sq ft of retail space at Sky City Mall, Borivali, under a 15-year lease agreement with Oberoi Realty. Registered on 9 July 2025, the deal reflects growing investor confidence in Mumbai’s suburban retail corridors and underscores Borivali’s emergence as a key commercial hub.
The lease, formalised with a monthly rent of ₹9.14 million or 20 per cent revenue share biannually—whichever is higher—includes a security deposit of ₹109.7 million with a 15 per cent top-up every 36 months. Officials confirmed a five-year lock-in period and a 15 per cent rent escalation every three years, ensuring both stability and long-term value for the landlord and tenant. Fit-out access was granted in March 2024, with rent commencement effective from 30 July 2025. This strategic retail move coincides with the inauguration of a 10-screen megaplex in the mall on 22 August. Spread over 43,500 sq ft, the multiplex offers seating for 1,372 patrons, complemented by premium foyers, lounges, and technology-enabled auditoriums. According to cinema industry experts, such experiential design positions the venue as a “destination where technology, luxury, and immersive storytelling converge,” appealing to both families and youth audiences.
Sky City Mall represents Oberoi Realty’s second venture in Mumbai, following its Goregaon East property, and is part of the larger 25-acre Sky City mixed-use project developed by Incline Realty Pvt Ltd, featuring 1.21 million sq ft of gross leasable area. Real estate analysts note that PVR Inox’s lease, along with other marquee agreements in the vicinity, reinforces the suburb’s growing commercial prominence. In May 2025, Apple India leased 12,616 sq ft in Borivali under a similarly structured revenue-sharing model with a long-term lock-in, highlighting increasing corporate interest in suburban Mumbai. Experts suggest that these transactions reflect a broader trend: brands are prioritising locations offering integrated lifestyle, retail, and entertainment ecosystems to attract footfalls beyond traditional city centres.
Commercial property officials assert that Borivali’s rising stature as a retail and entertainment destination strengthens Oberoi Realty’s positioning in Mumbai’s competitive market. The combination of premium design, strategic location, and long-term leases is seen as a model for sustainable retail growth, with emphasis on optimised energy use, eco-friendly infrastructure, and enhanced accessibility for diverse audiences. With Borivali gaining attention from national and international brands, the suburb is expected to witness further high-value leases, expanding its role as a vibrant suburban commercial hub. Analysts conclude that the Sky City development represents a blueprint for integrated, future-ready retail destinations that balance investor returns with urban sustainability and community engagement.
Suraj Estate Developers Acquires Prime Lower Parel Land To Expand Ambavat Bhavan Project
Suraj Estate Developers has strengthened its footprint in South Central Mumbai by acquiring a prime 644 sq. metre plot at N.M. Joshi Marg, Lower Parel, identified as CS No. 178 (RK Mansion). Valued at ₹6.44 crore including stamp duty and registration charges, the acquisition will merge with the developer’s adjacent Ambavat Bhavan project, creating a consolidated development of 1,310 sq. metres with a projected saleable carpet area of 0.32 lakh sq. ft. and an estimated gross development value of ₹130 crore.
The expanded project is set to offer premium one- and two-bedroom apartments in the value-luxury segment. Designed under regulation 33(7) of DCPR 2034, the scheme promises optimised layouts, wider frontage, and improved parking facilities. Its strategic location ensures seamless connectivity via Western and Central railway lines, the Monorail, Eastern Freeway, and Mumbai Coastal Road. Proximity to healthcare centres, retail destinations, entertainment hubs, and commercial zones across Lower Parel, Worli, and Prabhadevi further enhances its appeal. Officials from Suraj Estate Developers highlighted that the acquisition reinforces the company’s position in the value-luxury housing segment, enabling the creation of a landmark residential development with superior design, premium amenities, and sustainable value for homebuyers. The integration of RK Mansion with Ambavat Bhavan also aligns with the firm’s ongoing urban renewal strategy in dense South Central Mumbai neighbourhoods.
Established in 1986, the developer has a strong legacy in value-luxury, luxury, and commercial real estate, with particular expertise in redevelopment projects under DCPR 33(7). The company has successfully executed 45 projects covering 16.09 lakh sq. ft. and currently manages 10 ongoing projects under RERA spanning 4.7 lakh sq. ft., alongside 19 upcoming projects totalling around 12.2 lakh sq. ft. Its portfolio strategy leverages both cessed and non-cessed properties, focusing on strategic acquisitions and redevelopment agreements to unlock high-value urban plots. Analysts note that the merger of the newly acquired plot with Ambavat Bhavan will create a larger, cohesive residential project catering to Mumbai’s growing demand for premium urban housing. Experts highlight that limited availability of prime land in South Central Mumbai, coupled with strong design and amenities, continues to attract high interest from homebuyers seeking luxury residences with strategic city connectivity.
Suraj Estate Developers’ latest acquisition and expansion reinforce its presence in micro-markets such as Dadar, Mahim, Prabhadevi, and Lower Parel while signalling its strategic entry into Bandra. The move underscores the company’s commitment to sustainable urban development, efficient land utilisation, and creation of high-value residential projects that meet contemporary living standards. As the Mumbai real estate landscape evolves, strategic land acquisitions combined with integrated development projects are expected to define the city’s premium housing market trajectory. The Ambavat Bhavan expansion exemplifies the blending of redevelopment expertise with sustainable urban planning in one of the city’s most sought-after residential belts.
Suraj Estate Developers Acquires Prime Lower Parel Land To Expand Ambavat Bhavan Project
ALMT Strengthens Mumbai Office By Appointing Suman Kamani As Partner
Mumbai’s legal sector has gained a significant boost with the appointment of Suman Kamani as a partner at the city office of ALMT Legal. Bringing over three decades of experience across corporate law, M&A, dispute resolution, and real estate, Kamani’s entry is expected to strengthen the firm’s capabilities in high-value domestic and cross-border transactions.
Kamani’s career trajectory spans top-tier law firms and in-house roles in large corporate groups. Before joining ALMT Legal, she served at Crawford Bayley & Co and Luthra and Luthra Law Offices, later transitioning to corporate leadership positions with prominent business houses, including major financial institutions, healthcare, and media companies. Her extensive portfolio includes advising corporates and multinational entities on acquisitions, cross-border mergers, and strategic corporate transactions. Experts highlight that Kamani’s expertise in litigation, covering civil and criminal matters, company petitions, winding-up proceedings, and amalgamation schemes, positions her uniquely to support ALMT Legal’s corporate and commercial practice. She has consistently advised clients on pre-litigation strategies, representing them in the Supreme Court of India, high courts, lower courts, and appellate tribunals. Her guidance has been pivotal for clients across sectors including media, entertainment, real estate, infrastructure, and financial services.
Beyond litigation, Kamani has demonstrated proficiency in alternative dispute resolution, real estate advisory, and cooperative society matters. She has helped overseas investors establish office and retail operations across India, navigating complex regulatory and compliance landscapes. This breadth of expertise is expected to complement ALMT Legal’s focus on sustainable, equitable, and digitally enabled business practices. Officials at ALMT Legal emphasised that Kamani’s addition strengthens the firm’s strategic advisory services, particularly in guiding clients through high-stakes corporate, real estate, and financial transactions. Analysts note that her appointment aligns with broader trends of experienced legal professionals transitioning to firms that integrate corporate, compliance, and sustainability-driven advisory.
Industry observers suggest that Mumbai continues to remain a key hub for top-tier legal expertise, with firms increasingly seeking professionals capable of bridging corporate strategy and complex regulatory frameworks. Kamani’s track record in advising Fortune 500 companies, leading banks, and high-profile corporates underscores the growing demand for seasoned partners in Mumbai’s evolving legal market. With her appointment, ALMT Legal signals its commitment to offering comprehensive legal services encompassing M&A, dispute resolution, real estate, private client advisory, and corporate governance. The move is also expected to attract high-value domestic and international clients seeking expertise in strategic transactions within India’s rapidly growing commercial ecosystem.
As Mumbai’s legal landscape evolves, experts believe Kamani’s integration into ALMT Legal’s partner team will help the firm expand its market presence and maintain leadership in advising sustainable, equitable, and commercially significant projects.
ALMT Strengthens Mumbai Office By Appointing Suman Kamani As Partner
Mumbai Sees Record Rs 132 Crore Sale in Lodha Sea Face Worli Apartment
Mumbai’s ultra-luxury residential market has witnessed a landmark transaction, with a sea-facing apartment in Lodha Sea Face, Worli selling for an astonishing ₹131.73 crore. The deal, registered on August 20, 2025, has set a new benchmark for the city’s high-end real estate sector, reinforcing Worli’s position as one of India’s most coveted luxury hubs.
The 10,538 sq ft apartment, situated on the 40th floor of Lodha Sea Face, comes with seven car parking spaces and was sold at an impressive rate of approximately ₹1.25 lakh per sq ft. Real estate experts highlight that the transaction demonstrates sustained demand for premium properties in prime locations, despite broader market fluctuations. Officials from the real estate analytics sector noted that the sale included a stamp duty of ₹7.90 crore and a registration fee of ₹30,000, reflecting both the value and scale of the transaction. The seller was Lodha Developers Limited, a leading name in India’s luxury residential projects and the developer behind Lodha Sea Face.
Industry analysts suggest that such high-value deals are a strong indicator of confidence among ultra-high-net-worth individuals in Mumbai’s luxury market. Lodha Sea Face, part of Worli’s marquee developments, continues to attract buyers seeking premium residences with strategic city views and world-class amenities. This record-setting sale follows several significant transactions in the same project earlier this year. In March 2025, a 14,866 sq ft apartment in Lodha Sea Face changed hands, while the nearby Naman Xana development achieved rates nearing ₹3 lakh per sq ft. Observers attribute this trend to the scarcity of premium sea-facing properties and the robust reputation of established developers like Lodha in the region.
Real estate experts indicate that Mumbai’s luxury sector is increasingly appealing to investors focused on long-term capital appreciation and lifestyle-driven purchases. The combination of location, exclusivity, and contemporary design at Lodha Sea Face continues to drive demand in top-tier projects across South Mumbai, particularly along the Worli coastline. Officials emphasised that the transaction also signals the resilience of India’s luxury housing segment. Despite macroeconomic uncertainties, ultra-high-net-worth buyers remain keen on securing iconic residences that blend premium architecture, panoramic cityscapes, and strategic connectivity.
As Mumbai’s real estate market evolves, analysts anticipate further record-breaking sales at Lodha Sea Face and other high-profile neighbourhoods, reflecting both domestic wealth creation and the growing importance of globally recognised luxury projects.
Mumbai Sees Record Rs 132 Crore Sale in Lodha Sea Face Worli Apartment
MHADA Extends Mumbai Commercial Premises E-Auction Registration Deadline To September 8
The Mumbai Housing and Area Development Board (MHADA) has extended the deadline for participation in the ongoing e-auction of commercial properties across the city, offering applicants additional time to complete registration, upload documents, and submit the required earnest money deposit. The revised deadline for all formalities is now 11:59 PM on September 8, 2025, with the e-auction itself scheduled for September 10, from 11 AM to 5 PM. Results are expected on September 11 at 11 AM.
This extension reflects MHADA’s effort to ensure equitable access for prospective bidders and to encourage wider participation in a process that supports sustainable commercial development in Mumbai. The e-auction applies to premises in multiple housing projects, including key localities such as Mulund, Kurla, Powai, Borivali, Kandivali, Sion, Wadala, Malad, Goregaon, and Jogeshwari. A total of 163 commercial units are on offer, with the largest concentration at Malvani, Malad, where 46 units will be auctioned. Kopri and Charkop each have 23 units up for sale, while Powai’s Tunga and Kurla’s Swadeshi Mill sites offer two and five units, respectively. Other locations such as Mulund Gavanpada, Borivali East, Kandivali West, Pratiksha Nagar, Antop Hill, and Bimbisar Nagar also feature multiple units, providing diverse options for investors and entrepreneurs. Single units are available at Shastri Nagar, Siddharth Nagar, and Majaswadi.
Eligibility criteria remain clear: applicants must be at least 18 years old and provide a domicile certificate issued in Maharashtra after 2018. The e-auction requires an earnest money deposit corresponding to the property’s offset price. All registration, payment, and document submission must be completed through MHADA’s official e-auction portal www.eauction.mhada.gov.in. Officials emphasise that the digital auction mechanism aligns with MHADA’s commitment to transparency, efficiency, and sustainable urban growth. By promoting online bidding, the board aims to reduce the environmental impact associated with physical auctions while expanding accessibility for stakeholders across the city and beyond. The platform also ensures secure transactions and real-time monitoring of bidding activity.
Experts in urban planning note that such e-auctions can encourage commercial occupancy within residential clusters, enhancing local economies while adhering to guidelines for sustainable development. Properly managed, these commercial spaces can contribute to equitable growth by providing small businesses, retail operators, and service providers with opportunities in Mumbai’s rapidly evolving housing hubs. MHADA’s decision to extend the deadline underscores its intention to balance administrative efficiency with public participation, reflecting a wider trend in Indian cities to leverage technology for inclusive urban development. As the auction date approaches, authorities continue to monitor submissions closely and advise applicants to ensure compliance with all procedural requirements to secure their chance to bid.
MHADA Extends Mumbai Commercial Premises E-Auction Registration Deadline To September 8
ICICI Prudential AMC Expands With GIFT City Office, Launches India-Focused Fund
