The slum areas in Jogeshwari, Chembur, and Kurla are set for a major transformation as part of an ambitious redevelopment initiative undertaken by the Maharashtra Housing and Area Development Authority (MHADA) and the Slum Rehabilitation Authority (SRA). These densely populated settlements, which have been home to thousands of people for decades, will be reconstructed to provide safer and better living conditions. The authorities have prepared detailed plans to carry out the redevelopment process, ensuring that the affected families are relocated with proper compensation and support.
Jogeshwari Chembur Kurla slums set for reconstruction
Noida Property Circle Rates to Increase by 20%
Uttar Pradesh has proposed a 20% hike in the region’s circle rates, marking the first increase in nine years. The revision, slated to take effect in the upcoming financial year, reflects a long-overdue adjustment to property values amid rapidly rising market prices. The proposed increase is part of a broader plan to recalibrate property valuations across the region, ensuring that stamp duty and registration fees better reflect current market conditions.Circle rates, which are the minimum values assigned to properties for calculating stamp duty, are crucial for property transactions, determining the base price for various types of real estate. The district administration recently released its proposed valuation list under the Uttar Pradesh Stamp (Valuation of Property) Rules, with a public feedback window open until April 5.
The revised rates are expected to be implemented from August 1, 2025, but this would be the first adjustment to Noida’s rates since 2016.The proposed revisions indicate substantial hikes in key areas, with multi-storey buildings in Greater Noida and Greater Noida West seeing an increase of up to 30%. Commercial properties and industrial plots will face rate hikes of up to 15%, while the resale market for residential, industrial, and commercial properties will experience a 10% jump. Notably, the region around the Noida International Airport, which is set to open in May, is expected to see some of the most significant changes, particularly in Jewar. The circle rates for agricultural land in Jewar will increase by 70%, aligning with the rising property demand due to the airport and related infrastructure projects.
In addition to the flat rate hikes, the Uttar Pradesh government is introducing new location-based charges. Properties near metro stations will incur a 5% premium, while those adjacent to expressways will see a 7.5% increase. Commercial properties and residential developments under the Economically Weaker Sections (EWS) category will face a 12.5% rise. These increases are indicative of the region’s shifting property dynamics, influenced heavily by ongoing infrastructure developments and the region’s growing appeal to investors.For property owners and investors in Noida, Greater Noida, and surrounding areas, these revisions could significantly alter market trends. While some areas are set for sharp increases in property values, especially in high-demand locations like Jewar, other areas could see more moderate adjustments.
The changes also underscore the rapid development in the region, which is increasingly seen as a commercial and residential hub due to its proximity to key transport infrastructure like the airport and expressways.As the revision process continues, the proposed hikes have already sparked discussions among property owners, developers, and potential buyers. The challenge will be for local authorities to balance the need for increased revenue from property transactions with maintaining the region’s affordability and accessibility for residents. The full impact of these revisions will become clearer once the rates are implemented, but for now, Noida’s property market is poised for significant changes that could reshape the landscape in the coming years.
Noida Property Circle Rates to Increase by 20%
Gyproc India and Dalmia Bharat to Offer Ceiling and Drywall Training
Gyproc India and Dalmia Bharat Foundation have joined hands to provide special training in drywall and false ceiling installation. This new training programme aims to equip young people with important skills in modern construction techniques. The programme will be conducted at the DIKSHa skill development centre in Rajgangpur, Odisha, and will train 120 students every year.This partnership will help bridge the skill gap in the construction industry by offering hands-on training and expert guidance. Gyproc India, a part of Saint-Gobain, is a leading company in sustainable construction materials.
Dalmia Bharat Foundation, the CSR arm of Dalmia Bharat Ltd., is known for its efforts to improve education and employment opportunities. Together, they will ensure that young trainees get the knowledge and practical experience needed to succeed in the construction sector.As part of this partnership, Gyproc India will set up a modern training lab equipped with the latest tools and technology. This will allow students to learn using real-world equipment and materials. Dalmia Bharat Foundation will manage the daily operations of the training programme, ensuring that students receive proper guidance. The training will focus on industry needs, making sure that participants are job-ready upon completion.The course will cover all aspects of drywall and false ceiling installation, including measuring, cutting, and fitting materials correctly. Safety procedures and sustainable construction methods will also be part of the training. The students will be taught by experienced trainers, and they will get hands-on practice, which will increase their chances of getting jobs in the growing construction industry.India’s construction industry is expanding rapidly due to urbanisation and modern infrastructure projects.
There is a high demand for skilled workers who can install drywall and ceilings efficiently. However, many young people lack proper training in these areas. This initiative will help fill this gap by providing specialised training that matches industry standards.Companies are looking for workers who have both knowledge and hands-on experience in modern building techniques. Drywall and false ceilings are widely used in homes, offices, and commercial buildings due to their durability and ease of installation. With this training, young people will have better job opportunities, improving their chances of stable employment and financial independence.Both Gyproc India and Dalmia Bharat Foundation focus on sustainability. The training will also teach students about eco-friendly construction practices, such as using lightweight materials that reduce waste and energy consumption. These skills will help create a workforce that supports green building solutions, making cities more sustainable.
By offering practical training and career guidance, the programme will not only help individuals find jobs but also strengthen the construction industry as a whole. Skilled workers will contribute to better quality construction and faster project completion, benefiting businesses and communities.This initiative is a step towards empowering youth by giving them skills that match modern industry needs. It highlights the importance of collaboration between businesses and non-profit organisations in creating job opportunities and supporting economic growth. With the right skills, young workers can build a strong future for themselves and contribute to India’s development.
Gyproc India and Dalmia Bharat to Offer Ceiling and Drywall Training
Tata Steel Leads Manufacturing with AI Integration
Tata Steel has integrated over 550 artificial intelligence (AI) models across its operations, transforming manufacturing efficiency, monitoring blast furnace performance, and optimising energy use. The company’s focus on AI-driven industrial transformation was highlighted at a recent conclave on artificial intelligence and business strategy.The event, organised by a leading business school, brought together industry leaders, policymakers, and technology experts to discuss AI’s growing role in shaping business strategies and leadership.
During discussions, Tata Steel’s AI initiatives were showcased as an example of how large-scale AI adoption is improving industrial processes. The company has been using AI to enhance production accuracy, predict maintenance requirements, and reduce wastage. The use of AI in blast furnace operations, for instance, ensures better efficiency by reducing energy consumption and improving the quality of steel produced.Industry experts at the event highlighted how AI is reshaping the workforce and business operations. AI is not just replacing traditional methods but also enabling human machine collaboration to drive efficiency.The discussion explored the importance of balancing AI adoption with ethical governance to ensure transparency and fairness. Many companies, including those in banking, finance, and retail, are now developing AI-driven solutions that streamline operations while maintaining human oversight. AI models are increasingly used to personalise customer experiences, manage risks, and automate repetitive tasks across various sectors.The event also featured discussions on AI’s role in business transformation. Experts pointed out that AI adoption should be focused on real-world applications and align with business objectives. Companies must ensure that AI solutions are scalable, cloud-based, and flexible to adapt to evolving needs. Leaders were encouraged to adopt a continuous learning mindset to maximise the benefits of AI. Several business leaders shared insights on how AI-powered automation is aligning with their broader business strategies, driving efficiency, and optimising decision-making processes.
The growing role of AI in industries like steel manufacturing is a step towards digital transformation, making businesses more competitive and efficient. As more organisations embrace AI, the focus will remain on responsible implementation, ensuring ethical standards and sustainable growth. Tata Steel’s extensive use of AI reflects how industries can leverage technology to improve productivity while maintaining a commitment to sustainability and innovation.
Tata Steel Leads Manufacturing with AI Integration
Godrej buys 6.5 acres in Navi Mumbai for Rs 717 crore development
A leading real estate company has made a major investment by acquiring 6.5 acres of land in Kharghar, Navi Mumbai, for Rs 717 crore. This land has been leased from the City and Industrial Development Corporation (CIDCO) and will be developed into a modern mixed-use project. The transaction was officially registered in March 2025, marking a significant step in the company’s expansion strategy in the Mumbai Metropolitan Region (MMR).The newly acquired land spans 26,478 square metres and is zoned for both residential and commercial use. This means that the upcoming development will include high-quality homes, retail spaces, and office areas, creating a well-balanced urban environment.
The company had previously announced in October 2024 that it had successfully won bids for three adjoining plots in the MMR. With this latest acquisition, the real estate firm aims to develop a project with a revenue potential of Rs 3,500 crore, further strengthening its presence in one of the fastest-growing real estate markets in India.Kharghar is one of Navi Mumbai’s most sought-after locations, known for its planned infrastructure andconnectivity. It has witnessed a steady rise in real estate transactions, making it an attractive destination for both homebuyers and investors. Data from the property market shows that 4,112 residential sales were recorded in the area between January and December 2024, generating a total transaction value of Rs 3,771 crore. As of December 2024, the average property price in Kharghar stood at Rs 17,600 per square foot, reflecting the area’s growing demand and value appreciation.
The region’s strong infrastructure growth has contributed to its increasing popularity. Key projects like the Navi Mumbai Metro and the upcoming Navi Mumbai International Airport have boosted connectivity, making it easier for residents and businesses to access other parts of the city. Additionally, the area is home to reputed educational institutions,healthcare facilities, and commercial hubs, making it an ideal location for a mixed-use development.This new land acquisition aligns with the real estate company’s long-term strategy of expanding into high-demand urban locations. The project will be designed to integrate sustainable development practices, incorporating energy-efficient buildings and green spaces. As the demand for eco-friendly and well-planned urban developments grows, this initiative aims to set new benchmarks for sustainability and urban planning in Navi Mumbai.
With increasing interest in premium housing and commercial spaces in the MMR, the upcoming development is expected to attract a wide range of buyers, including professionals, families, and businesses. As the real estate sector continues to evolve, projects like these will play a crucial role in shaping the future of Navi Mumbai’s urban landscape. The investment highlights the company’s commitment to creating high-quality developments that meet the needs of modern city dwellers while contributing to the overall growth of the region.
Godrej buys 6.5 acres in Navi Mumbai for Rs 717 crore development
UltraTech and Ambuja Cement Stocks Upgraded
UltraTech, one of the sector’s leaders, saw its stock rise by over 4% in early trading, pushing the price to Rs 11,428.55 on the Bombay Stock Exchange. The upgrade, which includes a revised target price of Rs 13,000 for UltraTech, signals a robust outlook for the company and the sector as a whole. UBS raised its target from the previous Rs 9,000, reflecting its positive stance on the future of cement in India.
UBS’s fresh analysis extends beyond UltraTech, with the firm also raising its target price for Ambuja Cement. The upgrade has had a ripple effect, with stocks of other cement players such as Dalmia Bharat and ACC gaining as well. According to UBS, the cement sector is well-positioned for growth, bolstered by a strong housing upcycle and a revival in government-led capital expenditure. These factors are expected to significantly boost demand for cement over the next few years. The global brokerage firm also pointed to consolidation within the sector, with market leaders in a strong position to benefit. As the sector is trading slightly above its five-year mean on a one-year forward EV/EBITDA basis, UBS suggests that these companies stand to gain from further consolidation in the market. This consolidation could lead to more efficient operations and improved financial performance for the leading players.
In addition to these macroeconomic factors, UBS highlighted several operational changes within the cement industry that could drive down costs. The sector’s ongoing shift to renewable energy, improved waste heat recovery technologies, and reduced freight expenses due to increased rail transport are expected to contribute to enhanced profitability. Furthermore, mergers and acquisitions are likely to streamline logistics, further benefiting the market leaders. The recent analysis from UBS underscores a positive outlook for India’s cement industry, particularly for those companies at the forefront of the market. As demand for cement is poised to rise with key infrastructure and housing projects, the sector could see continued growth. Investors and industry stakeholders alike will be keenly watching the developments as cement companies position themselves to take advantage of the ongoing uptrend.
UltraTech and Ambuja Cement Stocks Upgraded
Akshay Kumar Sold Mumbai Apartments for Rs 6.6 Crore Profit
Bollywood actor Akshay Kumar has sold two of his apartments in Mumbai for a total of ₹6.6 crore. The properties are located in Oberoi Sky City, a luxury residential project in Borivali. The sale was officially registered in March 2025, as per property records. The first apartment was sold for ₹5.35 crore. Akshay Kumar had originally bought this property in November 2017 for ₹2.82 crore. Over the years, its value increased by about 89%.
The apartment has a carpet area of 1,080 square feet. The buyer paid a stamp duty of ₹32.1 lakh and a registration fee of ₹30,000 to complete the purchase. The second apartment, which is smaller, was sold for ₹1.25 crore. Akshay had purchased it in 2017 for ₹67.19 lakh. This means the property value increased by 86%. The apartment has a carpet area of 252 square feet. The stamp duty for this transaction was ₹7.5 lakh, while the registration fee was also ₹30,000. Oberoi Sky City is a well-known luxury residential project developed by Oberoi Realty. Spread across 25 acres, it offers premium living spaces, including 3BHK and duplex apartments. The project has seen strong sales, with over 208 transactions recorded between March 2024 and February 2025, amounting to ₹818 crore in total sales.
The average resale price in this project is around ₹44,577 per square foot. Akshay Kumar is not the only Bollywood celebrity investing in this project. Earlier in 2024, actors Amitabh Bachchan and Abhishek Bachchan also purchased multiple properties in Oberoi Sky City. Many Bollywood stars and high-profile investors prefer this location due to its modern amenities, green spaces, and easy connectivity to key areas in Mumbai. Borivali, where Oberoi Sky City is located, has become a prime residential area. It is close to Sanjay Gandhi National Park, Kanheri Caves, and popular amusement parks like Essel World and Water Kingdom. The area is known for its greenery, peaceful environment, and excellent transport links to Kandivali, Dahisar, and other parts of Mumbai. Akshay Kumar has been active in Mumbai’s real estate market, making smart investment decisions. Selling these apartments at a high profit shows his strategic approach to property investments.
Many celebrities are now investing in high-value properties that offer better returns. Mumbai’s real estate market remains strong, especially in luxury residential and commercial projects. Experts believe that areas like Borivali, Andheri, and Goregaon will continue to attract buyers and investors due to rising property values and growing demand.
Akshay Kumar Sold Mumbai Apartments for ₹6.6 Crore Profit
Mt. K Kapital to Invest Rs 2500 Crore in India Housing Sector
Mt. K Kapital, is set to launch its second fund, targeting an ambitious ₹2,500 crore for housing projects across key Indian cities. This strategic move comes after the successful closure of its first fund, which raised ₹790 crore and was deployed across five projects in the Mumbai Metropolitan Region (MMR), covering a total developable area of 7 lakh square feet.
With its second fund, Mt. K Kapital aims to expand its footprint beyond Mumbai, investing in high-demand urban centres such as Delhi-NCR, Bengaluru, Pune, and other emerging cities. The new fund will be more than three times the size of its predecessor, reflecting the company’s growth and confidence in the future of India’s real estate market. The company, which operates under the SEBI-approved Category II Alternative Investment Fund (AIF) license, is focused on developing residential real estate with an eye on long-term sustainability. The planned investments will be made in partnership with leading developers, with the goal of delivering high-quality housing projects that meet the growing demand for urban homes in rapidly expanding cities. According to experts in the industry, the residential real estate market in India is poised for substantial growth, driven by urbanisation, changing demographics, and evolving lifestyles. However, the sector faces challenges related to high land costs, regulatory hurdles, and the need for more affordable housing solutions. Mt. K Kapital’s new fund aims to address these challenges by backing projects that strike a balance between profitability and sustainability, while also providing valuable infrastructure for the country’s expanding urban population. The first fund of Mt. K Kapital was backed by several prominent investors, including financial institutions like SBI, SBI Life, ICICI Bank, Famycare, and Keystone Realtors, the latter of which operates under the Rustomjee brand. About 60% of the initial corpus came from these institutions, with the remainder sourced from high-net-worth individuals and family offices. The fund’s success has established Mt. K Kapital as a serious player in the Indian real estate investment space, with a track record of deploying capital effectively and sustainably.
Looking ahead, Mt. K Kapital’s second fund will follow a similar strategy, focusing on long-term partnerships with developers and ensuring that each project is developed with a keen eye on environmental and social sustainability. The company plans to create residential developments that not only provide affordable housing but also incorporate eco-friendly practices, helping to contribute to the broader goal of building greener, more sustainable cities. This commitment to sustainability aligns with the growing push across India for low-carbon, climate-resilient urban development. As the real estate sector faces increasing scrutiny over its environmental impact, Mt. K Kapital’s focus on sustainable housing offers an important example of how private capital can be deployed to drive positive change in India’s urban landscape. The second fund, expected to launch by the end of this calendar year, will focus on providing high-quality housing solutions in cities with significant demand for residential development. The investment will not only help address the housing shortage but will also stimulate economic growth by generating employment opportunities in construction and real estate. By leveraging its expertise in both real estate development and fund management, Mt. K Kapital is positioning itself as a key player in the Indian housing sector. The company’s focus on creating value for investors, developers, and end-users, while maintaining a strong commitment to sustainability, will likely play a critical role in shaping the future of India’s real estate market.
As the company moves forward with its plans, industry experts are optimistic about its potential to bring meaningful change to the housing sector, contributing to the creation of more livable, accessible, and environmentally friendly urban spaces. The launch of Mt. K Kapital’s ₹2,500 crore fund marks a significant step in the continued evolution of India’s real estate investment landscape, and it’s expected to have a long-lasting impact on the housing sector’s growth trajectory.
Mt. K Kapital to Invest Rs 2500 Crore in India Housing Sector
Kajol sells Powai apartment for 3.1 crore
Bollywood actress Kajol has sold her apartment in Hiranandani Gardens, Powai, for ₹3.1 crore. The property, located on the 21st floor of the Atlantis Co-operative Housing Society Limited, spans 762 sq ft and includes two stack car parking spaces. The transaction was registered on March 20, with buyers Vrushali Rajnish Rane and Rajnish Vishvnath Rane acquiring the apartment. The sale price translates to approximately ₹40,682 per sq ft based on the RERA carpet area.Kajol’s decision to sell this property reflects a trend among Bollywood celebrities who are restructuring their real estate portfolios.
Many stars are shifting their investments from residential to commercial properties to maximise returns. Powai, once primarily a residential hub, has now become a sought-after location for professionals and investors due to its proximity to business districts and strong infrastructure development.This sale comes after Kajol’s recent high-value investments in Mumbai’s commercial real estate market. Earlier this month, she purchased a 4,365 sq ft retail space in Goregaon West for ₹28.78 crore from Bharat Realty Ventures Pvt Ltd. This move suggests a strategic realignment of her assets, focusing on commercial ventures that offer long-term value. Kajol had also invested ₹7.64 crore last year in an office space in Andheri West’s Signature Building, located along Veera Desai Road, further highlighting her interest in commercial properties.Kajol’s husband, Bollywood actor and director Ajay Devgn, has also been actively involved in Mumbai’s property market. In 2024, he leased out a 3,455 sq ft commercial office space in Mumbai for a monthly rent of ₹7 lakh. This indicates a broader trend where Bollywood personalities are increasingly investing in commercial real estate, which is seen as a stable and profitable asset class.
Powai’s real estate market has remained attractive due to its mix of luxury residences, corporate offices, and educational institutions. Over the years, the area has developed into a self-sustaining township with high-end residential towers, retail spaces, and a strong commercial presence. The Hiranandani Gardens complex, where Kajol’s apartment was located, is particularly well-known for its premium properties and urban lifestyle offerings.Experts believe that Bollywood’s growing interest in commercial real estate is influenced by the sector’s steady growth and rental income potential. Unlike residential properties, commercial spaces often yield higher and more consistent returns. Additionally, with Mumbai evolving into a business and financial hub, prime commercial locations such as Goregaon, Andheri, and Powai have gained significant traction among investors.Kajol’s decision to invest in commercial spaces aligns with a larger market trend where high-net-worth individuals are diversifying their portfolios. With rising property prices and demand for premium office spaces, real estate experts suggest that the shift from residential to commercial assets could prove to be a financially rewarding strategy in the long run.
While Kajol has exited her Powai residence, her investments indicate a calculated approach to real estate management. By focusing on commercial properties in prime locations, she is not only securing long-term returns but also leveraging Mumbai’s expanding business infrastructure. As the city continues to evolve, Bollywood’s real estate moves are likely to shape future market trends, making Mumbai an even more dynamic hub for property investments.
Kajol sells Powai apartment for 3.1 crore
Mumbai CREDAI-MCHI Welcomes Maharashtra Budget for Real Estate
The Maharashtra state budget for 2024 has received a warm reception from the real estate sector, particularly from CREDAI-MCHI, the apex body of real estate developers in the Mumbai Metropolitan Region (MMR). The developers’ body believes that the budget, with its focus on infrastructure development and affordable housing, will significantly enhance the growth prospects for the region’s real estate market.
On March 10, Maharashtra’s Officials presented the state budget, which earmarked substantial investments in infrastructure, urban development, and housing. Among the key highlights, the government’s proposal for a new industrial policy aimed at attracting Rs 40 lakh crore worth of investments and generating 50 lakh jobs stood out. The ambitious budget also included plans for developing the MMR into a vibrant economic hub with an estimated GDP of USD 1.5 trillion by 2047, driven by infrastructure projects such as the third airport near Vadhvan port in Palghar district. CREDAI-MCHI President noted that the budget laid a solid foundation for economic growth, particularly through strategic investments in infrastructure and housing. The focus on developing multi-modal corridors, metro projects, and enhanced connectivity was welcomed as these initiatives will position the MMR as one of the key economic engines of India. The President also expressed confidence that the Rs 8,100 crore allocation for urban housing would significantly contribute to the government’s ‘Housing for All’ initiative. This, according to the body, would provide a much-needed boost to the real estate sector, offering new opportunities for developers in the region.
CREDAI-MCHI Secretary added that the emphasis on industrial growth, transport infrastructure, and affordable housing would open new avenues for real estate development. The streamlined policies and focus on fiscal discipline would bring much-needed stability to the sector, instilling confidence among developers, investors, and consumers alike. Further, CREDAI-MCHI’s treasurer highlighted that the budget’s emphasis on capital investment and fiscal responsibility is a win for both real estate and infrastructure. The focus on housing for both rural and urban populations, improved road connectivity, and innovative financing models such as Maha InvITs (Infrastructure Investment Trusts) was expected to foster long-term economic stability, which would, in turn, benefit the real estate sector. Industry insiders believe that the focus on affordable housing and strategic investments in infrastructure is timely, especially in the wake of the growing demand for both residential and commercial properties in the MMR. The state’s commitment to enhancing connectivity and facilitating the growth of urban areas is expected to make real estate development more viable and attractive for developers.
In conclusion, CREDAI-MCHI has lauded the Maharashtra budget for addressing the needs of the real estate sector, particularly with its emphasis on sustainable urban development and affordable housing. As infrastructure projects gain momentum and housing demand rises, the MMR is poised for significant growth in the coming years, providing ample opportunities for developers, investors, and the broader economy.