Adani launches Indias first 5 MW off grid hydrogen facility
Noida launches Mumbai style EWS redevelopment
Noida is set to undertake a major shift in its urban planning playbook with the launch of a redevelopment policy aimed at replacing ageing EWS housing blocks with modern, climate-resilient, and inclusive homes. Inspired by Mumbai’s model, the initiative will upgrade dilapidated flats while allowing developers to utilise increased Floor Area Ratio (FAR) for commercial recovery—marking a strategic pivot in the city’s approach to urban renewal.
Officials from the Noida Authority confirmed that multiple old EWS clusters have been identified for the first phase of redevelopment, specifically in high-demand, centrally located sectors such as 27, 93, and 93A. These areas have long suffered from structural deterioration, lack of maintenance, and overcrowding. Under the new policy, developers will be tasked with demolishing the ageing buildings, reconstructing larger and upgraded homes for existing residents at no cost, and providing temporary housing during the construction period. At the heart of the policy is an incentive-driven mechanism. When the original buildings were constructed, the permissible FAR was 1.5; today, it stands at 3.5. Developers will be allowed to monetise this surplus by building additional saleable units, thereby making the project financially viable. This unlocking of land value is seen as a mutually beneficial strategy—ensuring better housing for lower-income groups while offering developers a sustainable return on investment.
Experts in real estate development and urban economics see this as a landmark move for Noida. With decades of housing backlog, especially in the economically weaker segment, the redevelopment framework promises not only to rehabilitate crumbling infrastructure but also to reimagine city cores as more inclusive and efficient spaces. Officials confirmed that separate Requests for Proposals (RFPs) will be issued for each identified site to ensure transparency and competition. Urban housing analysts describe the model as a balanced compromise between equity and economics. For thousands of families who have been living in deteriorating conditions for years, this may finally offer a pathway to dignified housing without displacement. The model also reflects a shift towards integrated urban design—one that values social inclusion alongside real estate profitability.
In tandem with this initiative, the Noida Authority has approved the participation of co-developers in five long-stalled residential projects. This move is expected to benefit over 5,000 homebuyers who have been waiting indefinitely for possession. Under this co-development framework, private players will step in to revive delayed projects, backed by legal safeguards and structured timelines. The scale of the problem in Noida and the wider National Capital Region (NCR) is significant. According to data from a regional industry body, nearly 1.9 lakh housing units are currently stalled across Noida, Greater Noida, and Ghaziabad. These projects represent a cumulative value of approximately ₹1 trillion. In Greater Noida alone, 36 projects are under insolvency proceedings. Developers across the region reportedly owe over ₹40,000 crore to local authorities, including interest and penalties.
This systemic distress has placed tremendous pressure on urban infrastructure, public trust, and the homeownership dreams of thousands of middle- and lower-income families. With halted construction, legal gridlocks, and eroded builder credibility, the housing ecosystem in NCR has faced one of the longest stagnation periods in its history. Officials from development authorities believe that the combination of redevelopment and co-development can unlock significant value from within city limits, without the need to expand into ecologically sensitive or peri-urban zones. It reflects a growing awareness that urban growth must become more inward-looking, resource-efficient, and socially inclusive—especially in an era of climate urgency and land scarcity.
However, planning experts have also sounded a note of caution. While Mumbai’s success in slum and EWS redevelopment offers a roadmap, Noida must account for local challenges such as tenant consent, financing risks, and coordination delays. In Mumbai, policies evolved over decades through trial and error, with strong community participation mechanisms. Noida will need to develop similar frameworks to ensure that redevelopment does not lead to gentrification or social displacement. The viability of these projects will also depend on market confidence. With buyer sentiment still recovering from past disruptions, the quality and transparency of upcoming redeveloped units will determine long-term success. Experts advise the inclusion of green building certifications, waste segregation infrastructure, solar-readiness, and water conservation features in the new EWS homes to future-proof them against environmental stress.
The redevelopment effort holds broader implications beyond just housing. If successful, it can become a blueprint for urban transformation in other northern cities grappling with similar issues—Ghaziabad, Faridabad, Lucknow, and even parts of Delhi. It signals a clear policy intent: to shift away from unchecked urban sprawl and instead regenerate the built environment with principles of affordability, sustainability, and social dignity. The policy also reflects a shift in the governance philosophy. For years, real estate planning in NCR was focused on expansion—building outwards rather than improving within. By aligning with the Mumbai model, Noida now embraces urban regeneration as a strategic tool for sustainability and social justice.
As cities worldwide confront climate change, rising inequality, and land exhaustion, such integrated approaches to redevelopment may emerge as the default rather than the exception. Noida’s attempt to rewrite its housing narrative could well be the beginning of a broader movement towards equitable and carbon-conscious city-making.
Noida launches Mumbai style EWS redevelopment
Mahindra Launches Redevelopment Project in Malad
Mahindra Lifespaces Developers, the real estate arm of the Mahindra Group, announced today the launch of its redeveloped residential project ‘Codename64’ in Malad West, Mumbai. The stock rose 1.23% on the BSE to Rs 362.45 following the announcement, reflecting investor enthusiasm. Positioned as a premium housing community, the project spans 2 and 3 BHK apartments with approximately 2.2 acres of recreational space, strategically designed to integrate seamlessly with Malad’s growing urban infrastructure.
Background Malad West has experienced a real estate renaissance in recent years, propelled by improved connectivity via arterial roadways, metro extensions, and proximity to key business districts. Redevelopment projects are increasingly gaining traction, aiming to replace older stock with vertically integrated, amenity-rich housing while aligning with sustainable urbanisation goals. Mahindra Lifespaces enters this market with a reputation for environmentally attentive development, with over 41 million sq ft of residential projects and 5,000 acres under its industrial and integrated development portfolio.
Project Overview and Strategic Fit ‘Codename64’ caters directly to young professionals, nuclear families, and upwardly mobile residents seeking premium housing options in established neighbourhoods. With layout plans that include abundant green spaces, communal zones, and recreational amenities, the project reflects Mahindra’s design philosophy aimed at long‑term build quality and community cohesion.
Vimalendra Singh, Chief Business Officer Residential at Mahindra Lifespaces, stated:“Mahindra Codename64 is more than a project launch. It reflects our deepening commitment to Mumbai’s urban transformation. As we step into the city’s redevelopment space, our focus is on creating homes and communities that stand the test of time.”
Market Context and Investor Appeal Redevelopment in suburbs like Malad aligns with Mumbai’s broader effort to enhance densities within existing urban footprints—reducing sprawl, preserving sensitive ecosystems, and optimising infrastructure use. The presence of 2.2 acres of communal land within Codename64 not only serves as a quality-of-life driver for residents but also signals adherence to equitable, inclusive planning—priorities increasingly valued by investors and buyers.
Analysts suggest that redevelopment projects in market-ready suburbs with transit access tend to outperform conventional new launches, driven by local familiarity, existing civic infrastructure, and market assurances. With these attributes, Codename64 is positioned to meet strong demand.
Urban Sustainability and Equity Dimensions Mahindra Lifespaces has consistently integrated sustainability into its design ethos—embracing rainwater harvesting, energy-efficient systems, and thoughtful landscaping. In the case of Codename64, these features are expected to converge with equitable access to public transport and pedestrian-friendly environments. The inclusion of gender-sensitive amenities and communal spaces furthers the city’s agenda of zero-net-carbon, equitable urban growth.Current Status and Outlook Details regarding the project’s launch date, unit mix, and pricing remain forthcoming. However, given Mumbai’s redevelopment momentum, strong buyer interest and pre-sales are anticipated. Investor confidence is supported by Mahindra’s ability to leverage internal capital and its track record in delivering complex urban projects.
This launch marks another milestone in Mahindra Lifespaces’ drive to redefine Mumbai’s built environment. With a well-placed redevelopment focus and commitment to sustainable community living, Codename64 could set a benchmark for future projects across the metropolis.
Also Read : TVS Emerald Targets ₹700 Crore in Bengaluru
Mahindra Launches Redevelopment Project in Malad
TVS Emerald Targets ₹700 Crore in Bengaluru
TVS Emerald, the real estate arm of the TVS Group, has made another strategic move in Bengaluru’s booming property market with the acquisition of a 7.18-acre land parcel near Rayasandra Lake in the city’s southeast corridor. With this premium residential development, the company aims to generate over ₹700 crore in revenue, reflecting its deepening commitment to the region’s high-potential micro-markets.
The newly acquired site is strategically located with proximity to Bengaluru’s IT and commercial hubs, and benefits from the ongoing infrastructure upgrades in and around Rayasandra. According to the company, this location offers a significant opportunity to develop a high-end residential community that blends accessibility, connectivity, and lifestyle amenities—a combination increasingly sought after by the city’s upwardly mobile demographic.”This site presents an excellent opportunity to develop a premium residential community, given its superior location and accessibility,” said the Director and CEO of TVS Emerald. “We look forward to increasing our presence in Bengaluru with this strategic acquisition in Rayasandra.”
This marks the seventh major land acquisition by TVS Emerald in the city and is seen as part of a larger roadmap to cement its presence in India’s tech capital. Earlier this year, the company acquired a 10-acre land parcel in Sathnur, Bengaluru, with an estimated development potential of 1.4 million sq ft and projected revenues of ₹1600 crore. Other notable acquisitions include a 4-acre parcel in Thanisandra and multiple plots in Chennai, with an overall development potential exceeding 8 million sq ft.
The Rayasandra acquisition underscores the shifting momentum in Bengaluru’s residential real estate sector, especially in peripheral locations now gaining prominence due to metro connectivity and urban expansion. Rayasandra, in particular, is emerging as a hotspot due to its proximity to Electronic City and Outer Ring Road, making it ideal for premium housing tailored to the tech-savvy and professional population.TVS Emerald is yet to announce the exact configuration and launch timeline for the project, but industry insiders expect the development to offer a mix of lifestyle-oriented apartments and green living spaces, aligning with the company’s vision of sustainable urban growth.
The announcement reaffirms TVS Emerald’s strategic focus on Bengaluru as a key growth market, with a sharp eye on premium housing demand driven by employment hubs and infrastructure enhancement. As developers continue to shift attention to high-growth corridors, this acquisition is expected to accelerate the urbanisation of Rayasandra and enhance the brand’s visibility in India’s Silicon Valley.
Also Read : Chembur Growth Boosted by Seven Mega Projects
TVS Emerald Targets ₹700 Crore in Bengaluru
Chembur Growth Boosted by Seven Mega Projects
Chembur’s emergence as Mumbai’s fastest-growing suburban node is fuelled by a sweeping wave of infrastructure development and transport connectivity, transforming the area into a real estate magnet. With a network of seven infrastructure projects including the much-awaited Metro Line 2B, the Eastern Freeway, and the Santacruz-Chembur Link Road (SCLR), the suburb is fast becoming a high-demand location for both residential and commercial investments.
The upcoming Metro Line 2B—spanning 23.6 km and linking DN Nagar to Mandale—has been dubbed a “mobility equaliser” in Mumbai’s east-west commute. It cuts across key residential and business zones, and Chembur stands tall at its crossroads. As one of the 20 metro stations being developed along this corridor, Chembur is no longer on the edge of urban growth—it is at its epicentre. Infrastructure upgrades have been pivotal to Chembur’s rise. Beyond the metro, the locality is connected through multiple high-capacity corridors: the Eastern Express Highway ensures swift north-south access; the SCLR links it to western suburbs; the BKC Connector brings it close to one of Mumbai’s leading financial hubs; and the Monorail adds a layer of intra-city mobility. Together, these projects form a lattice of seamless transit—rare in a city where time is the most valuable currency.
The impact is already visible in market behaviour. According to industry reports, property prices in Chembur have appreciated by nearly 8% over the past year. Real estate developers and market analysts attribute this rise not just to improved connectivity, but to the growing perception of Chembur as a central, aspirational location. The suburb has become a magnet for young professionals, nuclear families, and remote working urbanites seeking better infrastructure, greener spaces, and future-ready homes. Mumbai-based expert notes, “Chembur has historically had the bones of a strong suburban centre—good road connectivity, open spaces, and civic amenities. What was missing was high-frequency public transport. Metro Line 2B is bridging that gap, turning Chembur into a dynamic urban node rather than just a commuter suburb.”
The real estate surge is evident in the rise of new residential projects that blend smart design with sustainable living. One such project making waves is Chandak Highscape City, developed by Chandak Group. Designed to reflect the evolving needs of urban India, the project is strategically placed just minutes from key metro stations and integrates modern amenities that support eco-friendly, inclusive living. An expert remarked, “Chembur’s trajectory is aligning with Mumbai’s long-term urban goals. With Metro 2B nearing completion, the connectivity quotient has changed dramatically. We’re seeing a rise in demand not just for homes, but for lifestyles that enable convenience, sustainability, and long-term value.”
Beyond real estate, the transformation also ties into Mumbai’s broader agenda for equitable, sustainable growth. Chembur, with its cultural diversity and mixed-income population, is being reimagined as a model for carbon-efficient development. Several new housing initiatives here are incorporating green building practices, water recycling systems, and energy-efficient technologies in alignment with Mumbai’s low-emission city roadmap. Urban development specialists argue that such projects are critical to address Mumbai’s spatial inequities. As elite neighbourhoods in South and West Mumbai reach saturation, the east, especially hubs like Chembur, are rising as egalitarian growth zones where affordability meets accessibility.
Real estate analysts project that with the full commissioning of Metro Line 2B and parallel enhancements in civic infrastructure, Chembur could witness a further 15–20% rise in property values in the next three years. This trajectory, experts say, could bring Chembur on par with Mumbai’s high-value suburbs like Andheri and Ghatkopar—only with better planning and modern infrastructure. For long-time residents, the transformation is both welcome and overdue. “Chembur has always had its own charm. Now it has the infrastructure to match,” says a local business owner. “We used to travel 90 minutes to reach the Western Suburbs. That’s changing. My son now works in BKC and is home in 20 minutes.”
As Chembur sheds its image of a bypassed suburb and moves into the mainstream of Mumbai’s urban growth narrative, its success story holds larger implications. It is a testament to what balanced infrastructure planning and inclusive design can achieve in a city grappling with sprawl, congestion, and inequality. While the real estate boom raises concerns of gentrification and affordability, especially for long-standing residents, planners assert that careful policy and community engagement can create a win-win scenario. For now, Chembur remains one of the brightest spots in Mumbai’s evolving urban landscape—a place where connectivity, culture, and commerce converge.
In a city defined by its relentless pace and space crunch, Chembur’s rise could well serve as a blueprint for equitable and sustainable urban transformation.
Also Read: MHADA Revises Thane Affordable Home Prices
Chembur Growth Boosted by Seven Mega Projects
Metro Drives Housing Boom in Sion and Mulund
Mumbai’s central suburbs are swiftly transitioning from quiet residential zones to the new epicentre of urban real estate activity, driven by robust transport upgrades and sustained infrastructure investment. Neighbourhoods such as Sion and Mulund are witnessing a surge in housing demand and capital appreciation, spurred by expanding metro corridors, road network improvements, and their strategic proximity to emerging commercial hubs.
Once eclipsed by the glitz of the western suburbs, the central belt is now being reimagined as a nucleus of accessible and aspirational living. A key factor catalysing this transformation is the city’s evolving metro network. With the Aqua Line operational and Metro Line 4 soon to link Wadala to Kasarvadavali, Sion and Mulund have gained faster and more direct access to major employment zones, including BKC, Lower Parel, SEEPZ, and Navi Mumbai. The tangible impact of these mobility upgrades is clear. In Sion, the new signal-free corridor linking it to BKC has trimmed commute times by over 15 minutes, while Line 4 is projected to cut Mulund’s commute by nearly 75%. For thousands of daily office-goers, these reductions are not merely logistical upgrades — they represent a major quality-of-life improvement that is reshaping residential decisions.
This demand is fuelling a notable uptick in property registrations and spurring developer interest. What was once seen as a peripheral housing market is now firmly part of Mumbai’s premium real estate map. Luxury redevelopment projects are rising in place of ageing structures, bringing in high-rise apartments with global-standard amenities tailored for professionals and nuclear families alike. Mulund, in particular, offers a distinct appeal — blending urban accessibility with suburban charm. Backed by access to the Central Railway, LBS Marg, and multiple upcoming metro links, it has established itself as a model for smart urban growth. The area is also enriched by planned civic spaces, green zones, top-tier schools, and healthcare infrastructure, appealing to families seeking a holistic lifestyle.
Sion’s advantage lies in its location at the confluence of connectivity. With access to both Eastern and Western Express Highways and its role as a central junction between Mumbai’s south and north zones, the area is poised for exponential growth, both residentially and commercially. Proximity to the soon-to-open Navi Mumbai International Airport further amplifies its investment potential. This broader urban shift is being mirrored in real estate dynamics. Developers are recalibrating their portfolios to focus on central suburbs, launching projects with an emphasis on sustainability, accessibility, and lifestyle integration. These neighbourhoods are seeing a wave of curated residential spaces that reflect the demands of the city’s evolving demographic — young professionals, dual-income families, and investors looking for future-ready opportunities.
Beyond physical infrastructure, the real estate psychology around central suburbs is changing. Homebuyers, once focused solely on the western corridor, are increasingly drawn to the central belt’s blend of shorter commutes, modern conveniences, and value-for-money propositions. Rising rental yields and long-term capital gains further strengthen the region’s credentials as a strategic asset. While challenges remain — including managing density, protecting green cover, and ensuring equitable development — the momentum is clearly shifting. With government-led urban renewal, metro expansion, and the looming influence of Navi Mumbai Airport, the central suburbs are moving from the periphery of aspiration to the core of Mumbai’s urban imagination. In a city where location is currency, Sion, Mulund, and their adjoining precincts are emerging not just as well-connected, livable pockets — but as the future face of sustainable and inclusive city-making.
Metro Drives Housing Boom in Sion and Mulund
MHADA Revises Thane Affordable Home Prices
Maharashtra Housing and Area Development Authority (MHADA) has revised the pricing of over 6,200 affordable homes in Thane district under the Pradhan Mantri Awas Yojana–Urban (PMAY-U) scheme. The revised prices affect homes in Shirgaon and Khoni and are now available on a First-Come, First-Served basis.
According to MHADA’s Konkan Board, the new pricing has been approved by the authority’s Vice President and CEO. A total of 5,236 homes in Shirgaon will now cost ₹19.28 lakh each—an upward revision of ₹1.43 lakh per unit. Meanwhile, Khoni, which has 1,012 units under the same category, has seen a price reduction of ₹1.01 lakh, bringing the cost per home to ₹19.11 lakh.The revisions are part of an ongoing effort by the state housing authority to keep government housing schemes financially viable while responding to the growing demand for affordable homes. A senior official from the Konkan Housing and Area Development Board said the decision balances cost escalations with affordability, especially in light of construction and land cost dynamics.
“This is a significant opportunity for people looking to own their first home. Interested citizens should not miss the chance,” the official said, noting that there is no closing date for applications under the First-Come, First-Served model, making the scheme continuously accessible until all units are sold.Applicants eligible under the EWS category must have a household income of up to ₹6 lakh annually. Those with incomes between ₹6–9 lakh can apply under the Lower Income Group (LIG), ₹9–12 lakh under the Middle-Income Group (MIG), and those earning above ₹12 lakh under the High-Income Group (HIG).
MHADA is also gearing up for a large-scale housing lottery draw expected around Diwali 2025, which will feature approximately 5,200 affordable homes across categories. These homes will likely be offered in locations across the Mumbai Metropolitan Region (MMR), where land constraints and high private-sector pricing have created a strong need for public housing schemes.In 2024, MHADA had floated over 2,000 homes for sale, priced between ₹29 lakh and ₹6.82 crore. However, the current revision reaffirms MHADA’s commitment to making homes accessible for economically vulnerable groups, and contributes to wider goals of equitable urban development, inclusion, and sustainability.
Experts believe such initiatives can help cities like Thane absorb population pressures from Mumbai, without increasing informal housing or burdening infrastructure. With homeownership being key to urban stability and social mobility, MHADA’s pricing revision is expected to draw more interest from eligible homebuyers looking for security and affordability in a formal housing market.
As construction continues across Thane’s growth corridors, the revised prices may signal a more stable phase in the state’s affordable housing landscape—making state-sponsored housing not just a policy tool, but a path to dignified living for many.
Also Read : Mumbai leads 19 percent housing sales fall across nine cities
MHADA Revises Thane Affordable Home Prices
Mumbai leads 19 percent housing sales fall across nine cities
Housing sales across nine major cities fell 19% year-on-year to 94,864 units in Q2 2025 (April–June), while new housing supply plunged 30% to 82,027 units—the first time both metrics have stayed below the 100,000‑unit mark since Q3 2021, according to PropEquity data.
Mumbai recorded the steepest drop, with sales tumbling 34% to 8,006 units and supply plummeting 61% to 4,949 units. Thane mirrored this trend with a 34% decline in sales, while supply fell 58%. Out of the nine surveyed cities, seven experienced falling sales year-on-year. Only Delhi‑NCR and Chennai bucked the trend, registering sales growth of 16% and 9%, respectively. On the supply side, Delhi‑NCR (+37%), Hyderabad (+19%), and Chennai (+6%) were the sole exceptions.
PropEquity CEO stated that with both sales and supply undershooting the 100,000‑unit threshold, this quarter marks a notable inflection point. Mumbai, Bengaluru, and Navi Mumbai—markets which peaked in 2023–24—appear to be reverting to a more sustainable trajectory. Quarter-on-quarter comparisons also reflect a slowdown: sales dipped 10%, though supply edged up by 2%, suggesting developers are pacing new launches cautiously.
City-level performance reveals nuances: Bengaluru’s sales slipped 6% to 14,676 units, while supply fell 13% to 14,243 units. Hyderabad’s sales dropped 20% to 11,815 units, even as supply climbed 19% to 10,544 units. Pune, Kolkata, and Navi Mumbai also saw sharp supply declines Industry analysts view this slowdown as a market correction after the “COVID‑era housing boom,” which surged amid low interest rates and pent‑up demand. Property prices in major centres had climbed significantly, prompting a cautious response from both buyers and developers .
A housing economist noted that muted sales will likely curb speculative launches but could help stabilise pricing and reduce carbon‑intensive over‑construction—aligning with sustainable urban growth objectives. That said, regional resilience remains significant. For instance, Delhi‑NCR’s growth is attributed to new inventory in Ghaziabad and Greater Noida, while Chennai’s steady conditions reflect consistent infrastructure demand.
Affordable and mixed‑income segments remain key to future momentum. Experts assert that prioritising walkable, green‑certified housing stock—alongside public transport access—can support more inclusive urban densification and mitigate emissions-intensive sprawl. If the slowdown deepens, analysts caution against overbuilding in oversupplied corridors. Instead, focus should shift to retrofitting existing housing, enhancing energy efficiency, and embedding neighbourhood-level water, waste, and mobility solutions.
Urban planners stress that low‑rise and social housing segments must not be sidelined amid supply pinch. Strategic public‑private partnerships can promote equitable access while distributing density across transit‑connected nodes. On environmental fronts, slower supply may decrease demolition waste, reduce embodied carbon in new concrete, and improve resource utilisation. Still, stagnant sales risk sidelining investments in green infrastructure—such as rooftop solar or rainwater harvesting—if developer margins narrow.
For Mumbai and Thane, the sharp decline may ease peak‑period congestion and improve green‑belt conservation, yet it poses housing affordability challenges. Demand contraction in the premium segment may widen gaps unless supply is redirected to inclusive, low‑carbon projects. Looking ahead, market recovery will hinge on macro factors—interest rates, affordability, and economic confidence. Government incentives and housing‑urbanisation schemes could accelerate demand in underprovided segments.
In the interim, the real estate ecosystem faces a transition: developers are recalibrating to local demand, planners are revising urban footprints, and sustainability advocates are pushing for measured, climate‑sensitive growth. As the industry adjusts, the focus must shift from volume growth to value-driven, equitable housing that supports zero‑carbon outcomes, respects urban ecosystems, and fosters gender‑neutral community design.
This correction phase may prove vital for aligning India’s housing expansion with sustainable development goals—and for shaping resilient, liveable cities in the next decade.
Mumbai leads 19 percent housing sales fall across nine cities
Mumbai Drafts New Cooperative Housing Guidelines
Maharashtra government has drafted a comprehensive set of guidelines to reform cooperative housing society operations—impacting more than 1.25 lakh societies across the state. With nearly 70% of these located in the densely populated Mumbai Metropolitan Region, the changes are expected to significantly influence how urban housing is managed and redeveloped.
The draft guidelines propose to cut the steep interest charged on overdue payments from members, lowering it from 21% to a more moderate 12%. Officials believe this will ease financial pressure on residents while ensuring better compliance. More importantly, the reforms are designed to encourage self-redevelopment by allowing housing societies to raise loans up to ten times the land value—empowering communities to manage redevelopment independently, without excessive reliance on private builders.
With digital access increasingly central to civic functioning, the proposed rules now enable virtual participation in Annual General Meetings (AGMs). A quorum of either 20 members or two-thirds of the total membership—whichever is lower—will be necessary. If the quorum is not achieved, meetings can be reconvened within a window of 7 to 30 days, without quorum restrictions. AGMs involving redevelopment decisions will now require mandatory video recording to ensure legal validity and procedural transparency.
The draft also introduces the concept of ‘provisional members’—a reform directed at streamlining inheritance and membership transfer. Legal heirs or nominees of deceased members will be granted temporary voting rights and membership participation until the legal ownership transfer process is complete. However, these individuals will not enjoy any ownership rights until the formal transfer is recorded.In a progressive urban planning move, the guidelines extend governance participation to commercial establishments and shops located within cooperative housing complexes. These will be categorised under ‘premises societies’, granting them a legitimate say in matters such as redevelopment and shared maintenance—reflecting the integrated land use realities of modern Mumbai neighbourhoods.
Another key feature of the draft is the restructuring of service charges and financial contributions. Common service charges must now be distributed equally among all flats, while water charges will be calculated based on the number of taps in each unit—introducing fairness and accountability in resource use. In addition, the rules specify that every society must annually contribute at least 0.25% of the construction cost to a sinking fund and 0.75% to a repair and maintenance fund. These mandated provisions are expected to improve financial planning for infrastructure upkeep and emergency works.
According to senior officials, fewer than 100 suggestions and objections were received from stakeholders, including housing federations, architects, and valuers—indicating limited resistance to the proposed changes. The state cooperation department will review the draft before forwarding it for legal vetting and final notification.Authorities involved in the reform effort emphasised that the transition from loosely defined by-laws to codified rules would reduce ambiguities that often cause internal disputes or force societies to seek intervention from the registrar’s office. In many such instances, costly administrators are appointed, further delaying decision-making. By offering legal clarity, the new rules aim to prevent such breakdowns in governance.
Experts from cooperative advocacy groups have largely welcomed the draft guidelines, noting that they promote transparency, empower resident collectives, and provide long-term structural direction for housing society management. If successfully implemented, the reforms are expected to make cooperative societies more resilient, financially independent, and participatory—advancing a model of equitable and sustainable urban living that Mumbai critically needs.
Also Read : Bollywood Actor Vivek Oberoi Builds Dubai Real Estate Empire
Mumbai Drafts New Cooperative Housing Guidelines
Bollywood Actor Vivek Oberoi Builds Dubai Real Estate Empire
Bollywood actor Vivek Oberoi, once recognised for his romantic and action-packed performances on the silver screen, is now making waves in the global business arena. The 48-year-old star has built a thriving luxury real estate empire in Dubai, with his company’s portfolio now reportedly valued at over ₹1,200 crore. What began as a temporary relocation during the COVID-19 pandemic has evolved into a defining chapter of his entrepreneurial journey.
Oberoi, known for films like Saathiya, Yuva, and Shootout at Lokhandwala, relocated to Dubai with his family during the pandemic in 2020. Initially intended as a brief retreat, the move gradually turned permanent. In recent interviews, he reflected on the city’s role in reshaping both his lifestyle and his approach to business. “We loved the experience. It gave us space, safety, and opportunity. Now, it feels more like home than a second home,” he shared.
At the centre of Oberoi’s real estate success is BNW Developments, a UAE-based company he co-founded, which now boasts over USD 7 billion in assets under development. The firm focuses on high-end residential and commercial developments, including marquee beachfront properties in Ras Al Khaimah and other parts of the UAE. BNW Developments has quickly carved a niche for itself in the premium real estate segment, targeting affluent international buyers and investors from the GCC, Europe, and India.For Oberoi, the move to Dubai unlocked a culture of entrepreneurship and civic ease that allowed his business instincts to flourish. “Dubai is where freedom meets structure. As long as you respect the laws and culture, the possibilities for growth are limitless,” he remarked. The city’s reputation for safety, infrastructure, and global connectivity has made it a preferred hub for new-age entrepreneurs and legacy investors alike.
Oberoi’s business success didn’t emerge overnight. He was already a keen investor in sectors like edtech, agritech, and sustainable jewellery before fully stepping into real estate. One of his other ventures, Solitario, focuses on lab-grown diamonds, reflecting his broader inclination toward environmentally sustainable and ethically conscious businesses. His firm iScholar, an edtech platform, also aims to make quality education more accessible across India and the Gulf.Raised in a household familiar with fame and finance—his father, veteran actor Suresh Oberoi, is also a successful businessman—Vivek credits early financial independence and family values for shaping his business acumen. “I made my first crore in my teens,” he once revealed, underscoring how long the foundations of his empire had been in the making.
While Oberoi continues to be associated with Bollywood, his focus has clearly shifted toward building impactful businesses that are both financially sound and socially responsible. His journey from Mumbai’s film studios to Dubai’s real estate skyline is symbolic of a broader trend—where Indian creatives and entrepreneurs are increasingly global in ambition and execution.
With a growing real estate footprint, diversified investments, and a sharp eye on global trends, Vivek Oberoi’s pivot to Dubai marks not just a personal reinvention but a powerful testament to the evolving Indian business diaspora. His story is one of transformation—from screen star to strategic entrepreneur—anchored in the pursuit of purpose-led growth.
Also Read : Ashi Singh Buys House But Stays on Rent