Godrej Properties Acquires 7.825 Acre Kukatpally Land With 3800 Crore Revenue Potential
Gujarat RERA Seeks State Intervention To Unlock Funds For Stalled WTC GIFT City Project
Gujarat Real Estate Regulatory Authority (GujRERA) has formally requested state government intervention to address the prolonged delay in completing the World Trade Centre (WTC) project at GIFT City. The move comes as thousands of investors remain in limbo, with their funds locked in a project that has been stalled for years following legal and regulatory complications.
The WTC project, envisioned nearly a decade ago, initially aimed to construct four towers within GIFT City’s commercial hub. While two towers have been completed, construction on the remaining structures halted after the promoter faced legal action, including arrest by enforcement authorities for alleged financial irregularities. With the development agreement for the unfinished towers cancelled, investors have expressed an inability to take on completion responsibilities, leaving the project in a state of uncertainty. In a strategic move, GujRERA has approached the Urban Development Department (UDD) urging exploration of alternative solutions to protect buyer interests and expedite project delivery. Sources indicate that GIFT City authorities are evaluating potential pathways to resume construction while maintaining regulatory compliance and safeguarding stakeholder investments. Officials stressed the importance of facilitating a structured completion plan that balances investor interests with urban development goals.
Concurrently, GujRERA has introduced tightened directives for banks financing real estate projects. Financial institutions are now mandated to avoid approving loans for units already sold prior to mortgage registration and to ensure proper recording of mortgage deeds with revenue authorities. These measures aim to enhance transparency, prevent financial mismanagement, and strengthen oversight of funding channels in large-scale developments. The stalled WTC project has become a focal point for discussions around regulatory reform, highlighting vulnerabilities in existing real estate oversight mechanisms. Experts note that without proactive intervention, stalled mega-projects risk eroding investor confidence, slowing urban development, and reducing financial accountability within the sector.
Analysts suggest that the combined efforts of GujRERA and UDD could serve as a model for resolving stalled projects across Gujarat and the Mumbai Metropolitan Region. By instituting a framework for government-assisted project completion, regulators hope to establish mechanisms that mitigate investor risk while ensuring sustainable urban growth. The WTC case underscores the critical need for stronger contingency planning and oversight in high-value urban developments. Stakeholders emphasise that coordinated intervention between regulatory authorities, banks, and urban development bodies is essential to prevent financial stagnation and restore momentum to key infrastructure projects.
As the GIFT City authorities evaluate the next steps, investors and market observers are closely monitoring developments. The resolution of the WTC impasse could set a precedent for handling similar stalled projects nationwide, reinforcing both investor confidence and regulatory efficacy.
Gujarat RERA Seeks State Intervention To Unlock Funds For Stalled WTC GIFT City Project
RBI Invites Bids For Lonavala Bungalows Near Mumbai Reserve Price Fixed At Rs 6.55 Crore
The Reserve Bank of India (RBI) has opened bids for three premium bungalows in Lonavala, a hill station nestled between Mumbai and Pune, offering investors a rare opportunity in a high-demand residential market. The properties, previously used as vacation homes for RBI staff, carry a base price of ₹6.55 crore each, with sealed offers invited until September 9, 2025.
Spanning 3,800 square metres near Lonavala Lake, the ground-plus-one structures are being sold on an “as-is, where-is” basis, meaning buyers will acquire the homes in their current state without renovation or further maintenance. Prospective bidders must submit an earnest money deposit of ₹10 lakh and will also be responsible for paying all applicable local taxes post-sale, according to RBI officials overseeing the tender. Cushman & Wakefield India, a leading property consultancy, has been appointed to manage the sale process, ensuring transparency and competitiveness through sealed bid submissions. The inspection period for the properties is open until September 8, allowing potential buyers to evaluate the estate and its surroundings firsthand.
Lonavala has long been a preferred destination for second homes, particularly for families from Mumbai, Pune, and Gujarat. Its proximity to major urban centres, combined with scenic landscapes and a cooler climate, makes it highly attractive to investors and non-resident Indians (NRIs) seeking premium residences. According to local real estate experts, property values in Lonavala could surpass ₹15,000 per square foot, with upscale villas and serviced apartments currently trading between ₹2 crore and ₹3 crore, offering rental yields of 10% to 15%. The RBI’s sale comes amid rising interest in suburban and hill station real estate markets. The town’s growing infrastructure, ease of connectivity via the Mumbai–Pune expressway and local railway lines, and its status as a preferred location for high-net-worth individuals and celebrities have collectively enhanced demand for luxury residences in the area.
Real estate analysts note that sales of government-owned premium properties, such as these RBI bungalows, typically attract competitive bidding due to limited availability and desirable locations. “Lonavala offers a unique combination of investment potential and lifestyle appeal,” said a senior official at Cushman & Wakefield India. “These properties will draw attention from both domestic and international buyers seeking serene yet accessible residences.” The RBI’s tender represents a calculated approach to monetising non-essential assets while maintaining procedural fairness. By engaging professional consultants and requiring sealed bids, the process ensures transparency and maximises potential value realisation. Interested buyers are advised to complete inspections and formalities within the stipulated timeline to avoid disqualification.
As Lonavala continues to see heightened interest from real estate investors, the sale of these bungalows may set a benchmark for premium property transactions in the region, reinforcing the hill station’s appeal as both an investment and lifestyle destination.
RBI Invites Bids For Lonavala Bungalows Near Mumbai Reserve Price Fixed At Rs 6.55 Crore
Adani Realty To Launch Pre-Bookings For Premium Mumbai Khatau Mill Housing Project Soon
Adani Realty is preparing to open pre-bookings for its upcoming residential development on the historic Khatau Mill land in Borivali East, a project that spans 27 acres and is expected to reshape the micro-market of Mumbai’s western suburbs. The project had been delayed for months owing to regulatory hurdles but is now moving forward after a Supreme Court ruling eased restrictions on real estate clearances near ecologically sensitive zones.
The premium housing scheme, located just off the Western Express Highway and in proximity to the Sanjay Gandhi National Park, is positioned as one of the largest launches in Borivali East. Market sources indicate that two and three-bedroom apartments are likely to be priced between ₹2.2 crore and ₹4 crore, depending on configuration and carpet area. The developer has listed these expected ranges on its official platform, even though final pricing will be confirmed at the time of booking. The project’s trajectory reflects the larger policy and regulatory challenges shaping real estate development in Mumbai. Last year, a National Green Tribunal (NGT) directive mandated that any large-scale project within five kilometres of sensitive ecosystems such as mangroves or forests must seek clearance from the central government. This ruling placed several developments in the Mumbai Metropolitan Region under suspension, including Adani Realty’s Borivali township.
Industry stakeholders, represented by real estate associations, challenged the ruling in court, citing the need for clarity and continuity in the approvals process. In August this year, the Supreme Court permitted state authorities to resume environmental impact assessments for stalled projects and restored the previous framework for granting permissions. This judgement has not only unlocked progress for Adani Realty’s Borivali scheme but also for dozens of projects across Mumbai and Pune. Experts note that Borivali East has steadily grown as a preferred residential zone due to its connectivity to key business districts, accessibility via the suburban railway and expressway, and its proximity to the city’s largest green lung. At the same time, the location’s closeness to the national park underscores the importance of sustainable development. Urban planners have urged developers to incorporate eco-sensitive design, energy efficiency, and green building practices in order to ensure that redevelopment aligns with Mumbai’s long-term sustainability goals.
For Adani Realty, the upcoming pre-bookings mark a critical step in consolidating its position in Mumbai’s competitive residential market. With demand for mid-to-premium housing on the rise, industry analysts expect strong interest from homebuyers. Yet, residents and city stakeholders will be watching closely to see if the project can balance commercial aspirations with ecological responsibility—an increasingly vital concern for Mumbai’s future urban growth.
Adani Realty To Launch Pre-Bookings For Premium Mumbai Khatau Mill Housing Project Soon
Bollywood Star Hrithik Roshan Fronts Simpolo Tiles Live Lavish Effortless Luxury Campaign
Simpolo Tiles and Bathware, one of India’s premier brands in ceramic tiles and premium bathware, has launched its much-anticipated campaign, Live Lavish, with Bollywood superstar Hrithik Roshan as its brand ambassador. The campaign aims to redefine luxury living for Indian homeowners by promoting the concept of effortless opulence — creating spaces that are visually stunning, highly functional, and easy to maintain.
In an era where luxury is often equated with intricate designs and high costs, Simpolo’s campaign seeks to shift the narrative. Hrithik Roshan, known for his charisma and elegance on and off-screen, embodies the idea of living lavishly without the burden of constant upkeep. The campaign’s core message emphasises that true luxury is not just in owning more but in enjoying life comfortably and sustainably. According to senior officials at Simpolo Tiles and Bathware, the brand intends to inspire homeowners to focus on the quality and longevity of their interiors while ensuring sustainability. The products showcased in the campaign are designed for energy efficiency, low maintenance, and durability — aligning with modern eco-conscious lifestyles. The Live Lavish campaign also reflects gender-neutral appeal, aiming to create equitable living spaces where functionality meets aesthetics for all members of a household.
Hrithik Roshan, commenting on the campaign, stated, “Luxury today is about creating spaces that make life simpler, more beautiful, and stress-free. I am proud to partner with Simpolo, a brand that focuses on design excellence while being mindful of sustainability and everyday usability. Live Lavish is not just a campaign; it is a celebration of life at home.” The campaign features a series of visually immersive advertisements, digital content, and interactive storytelling highlighting how Simpolo’s tiles and bathware transform ordinary living spaces into modern sanctuaries. By combining elegance with practical design, the brand is positioning itself as a leader in the premium home interiors segment.
Experts in interior design and luxury home solutions note that campaigns like these have a broader impact on urban lifestyle trends, influencing buyers to prioritise products that combine aesthetics, sustainability, and convenience. “With celebrities like Hrithik Roshan endorsing products that promote effortless luxury, the message resonates strongly with aspirational homeowners,” said a leading interior design consultant. Simpolo’s initiative also underscores the growing demand for sustainable and eco-friendly home solutions. By integrating long-lasting materials, energy-efficient products, and innovative design, the campaign aligns with India’s broader movement toward environmentally conscious urban living.
The Live Lavish campaign is expected to significantly enhance Simpolo’s visibility among urban and metro consumers, while simultaneously positioning Hrithik Roshan as a relatable advocate for modern luxury living. As India’s premium interiors sector continues to grow, such campaigns are likely to set benchmarks for combining celebrity influence with lifestyle innovation.
Bollywood Star Hrithik Roshan Fronts Simpolo Tiles Live Lavish Effortless Luxury Campaign
Arkade Developers Acquires Metro Station Naming Rights In Goregaon West Mumbai
Arkade Developers, has officially acquired the naming and branding rights of Bangur Nagar Metro Station, located on Metro Line 2A in Goregaon West. The station will now be formally known as Arkade Bangur Nagar Metro Station, reflecting the developer’s strategy to strengthen its brand visibility while aligning with the urban growth of one of Mumbai’s most dynamic corridors.
The renaming ceremony was marked by the presence of officials from Arkade Developers, Signpost India Limited, and key stakeholders, highlighting the growing trend of private sector partnerships in urban transport infrastructure. Positioned strategically in Goregaon West, the station serves as a vital hub for daily commuters and residents, facilitating access to residential and commercial developments along the corridor. According to company officials, the acquisition aligns with Arkade’s broader vision of shaping urban spaces through community-centric developments. By associating its brand with a major metro station, Arkade reinforces its commitment to the rapidly emerging Goregaon-Malad corridor, a region that has seen significant residential and commercial expansion in recent years. The move also enables the developer to strengthen its footprint in the area across completed, ongoing, and planned projects.
Urban transport analysts note that station naming rights are becoming a preferred avenue for developers to merge corporate branding with public infrastructure, providing mutual benefits. For Arkade, the initiative offers high visibility among daily commuters and residents, while the metro authorities receive additional revenue to support station maintenance and operational enhancements. The decision comes amid growing civic attention to metro infrastructure branding. Earlier controversies in the city over station name displays have highlighted the importance of balancing cultural sensitivities with commercial interests. Experts suggest that such collaborations, when executed transparently, can enhance commuter experience and contribute to the economic viability of metro operations.
Officials emphasised that the partnership will support sustainable urbanisation by promoting the metro as a convenient alternative to road travel, thereby reducing carbon emissions and traffic congestion in the region. By linking commercial growth with public infrastructure, the initiative represents a model of collaborative urban planning that integrates environmental, social, and economic considerations. The Arkade Bangur Nagar Metro Station branding marks a significant step in Mumbai’s approach to public-private collaborations, demonstrating how developers can actively participate in shaping cityscapes while supporting equitable, sustainable urban mobility.
Arkade Developers Acquires Metro Station Naming Rights In Goregaon West Mumbai
Mumbai Pratiksha Nagar Housing Society Barred From Charging Extra Fees For Rentals
The Chaitanya Cooperative Housing Society in Pratiksha Nagar, Sion East, Mumbai, has been directed by the Deputy Registrar of Co-operative Societies to refrain from charging excess amounts from members renting out flats, beyond the standard non-occupancy charges. The move follows a complaint highlighting that the society had been levying Rs 5,000 annually as a ‘Building Development Fund’ on rented units, which was deemed unlawful under existing cooperative society regulations.
According to officials, the society must adjust the disputed charges in the complainant’s monthly maintenance bills within two months. The directive emphasises adherence to the Model Bye-Laws of Cooperative Housing Societies, 2014, particularly Section 43 (2) (iii) (c), which limits non-occupancy charges to the prescribed norms set by the state Department of Co-operation. The complaint, lodged by a flat owner, alleged that the additional fund collection exceeded legal allowances. While the society defended its stance citing resolutions passed in AGMs in 2014 and later in 2019 to increase the fund amount from Rs 4,000 to Rs 5,000, regulatory experts clarified that such charges cannot override statutory provisions. A government resolution from August 2001 prohibits societies from levying more than 10% of service charges as non-occupancy fees, reinforcing the restriction on additional levies.
A senior official from the co-operative societies department stated that any collection labelled under development or building funds from rented flats constitutes a breach of cooperative society norms. The society has been asked to ensure that any excess collection is refunded or adjusted promptly, aligning with principles of transparency and fairness in member contributions. The case underscores a broader issue in Mumbai’s housing sector, where several cooperative societies have implemented additional levies beyond statutory charges, often citing AGM approvals. Experts note that while member resolutions are important for internal governance, they cannot contravene established legal frameworks designed to protect tenants and flat owners alike.
Officials emphasised that strict adherence to the bye-laws ensures equitable treatment for all members, particularly in high-demand urban areas where rental properties form a significant portion of the housing stock. The move is also in line with broader goals of fostering sustainable and equitable urban living, ensuring that housing societies remain accountable while providing quality services. With urban housing increasingly under scrutiny, such directives highlight the need for clear policies on charges and contributions, ensuring financial transparency and preventing arbitrary fees from burdening tenants. Experts advocate for wider dissemination of regulatory guidelines among cooperative housing societies to avoid disputes and legal complications in the future.
Mumbai Pratiksha Nagar Housing Society Barred From Charging Extra Fees For Rentals
Property Tax Penalty Exemption Extended Major Relief Under 90 Percent And 75 Percent Brackets
Panvel’s civic administration has extended the window for property owners to avail themselves of penalty exemptions under its amnesty scheme, giving taxpayers fresh relief at a time when outstanding dues remain a heavy drag on municipal finances. The extension pushes the 90 per cent penalty waiver until 15 September, while a 75 per cent waiver will follow from 16 to 30 September.
The decision comes against the backdrop of property tax arrears amounting to nearly ₹1,842 crore, a sum that equals about 47 per cent of the municipal budget for 2025–26 pegged at ₹3,874 crore. Officials believe the extension will not only aid recovery but also encourage wider participation among residents who have been hesitant to clear dues due to steep penalty charges. The amnesty scheme, originally announced with four tiers of penalty waivers at 90, 75, 50 and 25 per cent, has now been streamlined into two slabs. This simplification, officials say, is aimed at ensuring clarity and maximising compliance. Civic records show that since July this year, the scheme has already mobilised ₹213 crore in collections, underscoring its potential to plug revenue gaps.
Beyond rebates, the civic body has also introduced smaller incentives for timely compliance and sustainable practices. A basic 5 per cent discount has been announced for taxpayers clearing their 2025–26 bills by 31 August, along with a 2 per cent benefit for those opting for digital payments. An additional 2 per cent discount has been extended to property holders actively involved in water conservation, waste management, and energy-saving measures. These measures align with the city’s broader push towards environmentally sustainable and digitally inclusive governance. The property tax amnesty scheme, however, has not been free from criticism. Local resident groups have staged demonstrations demanding a reassessment of base rates, arguing that rising valuations are disproportionately burdening households. A recent protest march by opposition parties added further pressure on the civic body, which eventually conceded to extend and expand the relief window. Civic officials, meanwhile, have appealed to residents to take advantage of the extended deadlines, warning that once the waiver period ends, regular penalty structures will apply in full.
For Panvel, the challenge lies in balancing fiscal responsibility with public expectations. While the extension provides breathing space to property owners, it also reflects the administration’s dependence on property tax as a critical revenue stream for infrastructure and service delivery. With nearly half of the budget riding on pending dues, the coming weeks will be a litmus test of whether the extended relief can convert into meaningful collections without eroding the financial stability of the municipal body.
Property Tax Penalty Exemption Extended Major Relief Under 90 Percent And 75 Percent Brackets
Mumbai Third City project to create jobs, housing and boost economic growth
Mumbai’s economic landscape is set for a transformative leap with the proposed ‘Third Mumbai’, a planned region in Raigad district that promises to reshape growth in the Mumbai Metropolitan Region (MMR). Officials describe the initiative as a catalyst for India’s future financial and innovation hub, with ambitions that extend beyond infrastructure to sustainability, research, and urban resilience.
At a recent business event in Worli, Maharashtra’s leadership highlighted how global investments, such as the expansion of international financial institutions in Mumbai, reaffirm the city’s role as the country’s financial capital. The state, officials said, is keen to leverage this momentum through “Third Mumbai” – a mega-urban cluster designed to accommodate future economic, social, and demographic shifts. The project will reportedly house international universities, advanced medical institutions, and a dedicated innovation hub for frontier technologies such as artificial intelligence and quantum computing. Experts suggest this vision mirrors the evolution of global smart cities, where sustainability and cutting-edge research drive competitiveness and employment creation.
Planners stress that connectivity will be crucial to ensure integration with present-day Mumbai. Upcoming projects like the Coastal Road, the Atal Setu sea bridge, and the Worli-Sewri Link Road are expected to provide seamless access to the new region. Officials maintain that infrastructure, combined with fast-track clearances and public-private partnerships, will encourage both domestic and foreign investment. Urban policy experts view “Third Mumbai” as an opportunity to correct the imbalances of Mumbai’s overstressed urban fabric. Rising property prices, shrinking living spaces, and inadequate green zones have long plagued the metropolitan region. By expanding growth corridors into Raigad, Maharashtra seeks to reduce pressure on central Mumbai while promoting more equitable development.
However, questions remain around environmental sustainability and carbon neutrality. Urban planners argue that a project of this scale must adopt eco-sensitive design principles, renewable energy integration, and low-emission mobility systems to ensure it does not replicate the environmental challenges of Mumbai. A climate-friendly approach, they say, would align with India’s commitment to net-zero emissions and could make “Third Mumbai” a global model of sustainable urbanisation. For Maharashtra, the stakes are high. With rapid urban migration and growing pressure on infrastructure, the new city is not just a development plan but a long-term strategy for economic resilience. If executed with sustainability at its core, “Third Mumbai” could emerge as one of India’s most ambitious answers to the twin challenges of urban sprawl and economic competitiveness.
Mumbai Third City project to create jobs, housing and boost economic growth
Government announces 1.8 lakh PMAY homes to be ready by 2026
