Cinestar and BJP MP Vinod Khanna has bought a residential apartment at Malabar Hill, in the tony South Mumbai area, from Citibank for Rs 1.25 lakh a sq ft. Khanna has paid Rs 31.25 crore for the 2,500 sq ft flat. The sale price was four times higher than the reserve price of Rs 32,000 per sq ft.
Reserve Bank of India's offices in Mumbai and Navi Mumbai will remain open on Thursday but commercial and cooperative banks will remain closed to public on account of half-yearly closing of their accounts.
Though the airline has kept a reserve price of Rs 315 crore for these properties, it hopes to make around Rs 500 crore from the sale.
In August this year, ABN Amro Bank decided to renew the lease for its 3,100 sq ft office space at Nariman Point's Sakhar Bhavan, but the landlord dropped a bomshell by jacking up the rental to Rs 500 per sq ft.
'Magnetic mattress king' Vasant Pandit, who allegedly duped his distributors of magnetic beds to the tune of crores of rupees, was on Thursday denied bail by a New Delhi court, which remanded him to 14-day judicial custody.
Office rentals in Mumbai are going over the top indeed. Even suburban localities like Goregaon have seen rentals going up by more than 100 per cent, from Rs 75 a sq ft last year to Rs 175 this year.
The proposal to sell the building to state-owned Jawaharlal Nehru Port Trust also comes after the government's efforts of Air India strategic disinvestment failed to take off.
The victim, Pritinder Kaur Jaspal Singh Nagi, was standing outside the New Oberoi Hotel in Nariman Point, Mumbai, when the windowpane fell on her head.
Currently, 60 per cent of the vehicular traffic is taken care by the Western Express highway
All set to celebrate its victory, the scene at Bharatiya Janata Party office in Mumbai was of joy. Senior leaders of the BJP came out in full support and celebrated their victory. They were already flashing the victory sign.
India's uncrowned metal king Anil Agarwal revelas his recipe for success.
Delhi's Connaught Place is the 6th most expensive location in the world.
Tata Group's takeover of loss-making national carrier Air India is most likely delayed by a month till January as the completion of procedures taking longer than expected, an official said on Monday. In October, the government accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS -- the first privatisation in 20 years. At that time, the government had stated that it wanted to complete the transactions, which included Tatas paying Rs 2,700 crore in cash, by December end.
Mumbai, India's financial capital, is set for a mega transformation with a massive patch of land opening up for redevelopment; a new metro railway ready to start services by the year-end; and the country's oldest railway station, the Chhatrapati Shivaji Terminus, going for modernisation with private sector participation. Work on Mumbai's second airport will start from next month, while construction of the sea link connecting central Mumbai to Navi Mumbai has already moved into a fast lane despite Covid-induced lockdowns. Also, a coastal road project, connecting Nariman Point to Worli, is under way and will help decongest the city to quite an extent. Of all these mega infrastructure projects, the one that has a huge potential to change the city's skyline is the Eastern Waterfront project - to be built on the Mumbai Port Trust (MbPT) land.
You finally end up with an army of midgets led by midgets, notes Sandeep Goyal.
Coastal road will decongest the traffic of Mumbai and will create 91 hectares of green space.
With over Rs 55,000 crore debt, Air India management has been trying to pare burden by monetising non-core real estate properties.
Thackeray also said that while taking the decision, excise rules have not been touched and pubs and bars will close as usual at 1.30am.
The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group. The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
As counting of the ballot for 542 Lok Sabha seats for the world's largest democracy is underway, the Bharatiya Janata Party is surging ahead of all its rivals. With early trends in favour of the BJP, party workers and supporters burst into celebrations at various party offices as well as its headquarters in New Delhi. Workers distributed sweets, raised slogans and were seen dancing on the beats of drums at various places.
Office space on mill land in central Mumbai expected to reach 16 mn sq ft by 2021.
The memorial will be something similar to what it has for the victims of the 9/11 attacks in the United States.
Stock market investments are always said to involve risks and people who made big fortunes often made headlines as scamsters, leading to Dalal Street always being looked at with suspicion, but Rakesh Jhunjhunwala was broadly an exception. Jhunjhunwala, a partner at RARE Enterprises, who rose to amass a $5.8 billion fortune and earn the tag of the country's biggest individual investor, leaves behind a relatively cleaner slate, as was seen in the most common description for him -- 'India's own Warren Buffett'. Unlike names like Harshad Mehta and Ketan Parekh, whose rise in fortunes in post-liberalised India was tainted with scam links, the newest 'Big Bull' in the more-regulated market had lesser baggage on this front.
Heavy rains, coupled with thunderstorm, lashed Mumbai on Tuesday evening, bringing the soaring temperatures down and giving respite to the citizens from the sweltering heat.
The government on Monday signed the share purchase agreement with Tata Sons for the sale of national carrier Air India for Rs 18,000 crore. Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of the salt-to-software conglomerate, to pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. Following that, on October 11 a Letter of Intenet (LoI) was issued to the Tata Group confirming the government's willingness to sell its 100 per cent stake in the airline.
The top court had in 2020 directed installation of CCTV cameras and recording equipment at the offices of investigating agencies, including the Central Bureau of Investigation, the Enforcement Directorate and National Investigation Agency, which conduct interrogations and have the power of arrest.
'Till such time climatic activities resume up north in the plains and the hills, Mumbai's air quality may not improve.'
In 2012, Knight Frank estimated that prices in Ulwe grow by 50% in three years.
Air India's debt burden is estimated to be more than Rs 50,000 crore, besides huge accumulated losses.
Amid continuing stand-off with Shiv Sena, BJP's Maharashtra Assembly poll in-charge Om Mathur said his party was the new "big brother" in the state and others should not think themselves as bigger when "the people's verdict is otherwise".
SBI set to buy residential properties of Air India in south Mumbai
A strict vigil will be maintained during the swearing-in of Devendra Fadnavis as Maharashtra chief minister at Wankhede stadium in Mumbai on Friday, with over 2,500 security personnel being deployed in and around the sprawling ground.
'The Speaker has to act in an impartial way and in accordance with what the Supreme Court has laid out in its judgment.'
India pacer S Sreesanth and two other players of Rajasthan Royals, Ankit Chavan and Ajit Chandilia, have been arrested by the special cell of the Delhi Police on charges of spot-fixing in the ongoing IPL 6.
The Supreme Court on Monday asked the Centre that it may consider tweaking the protocols for the burial of bodies of COVID-19 victims in a way that essential tenets of the Zoroastrian belief are also taken care of.
Fugitive diamantaire Nirav Modi's sister and brother-in-law have "turned approvers" in the over $2 billion PNB fraud case against him and they will help the Enforcement Directorate confiscate assets worth Rs 579 crore, including Swiss bank deposits, the agency said on Thursday. Forty-nine-year-old Nirav Modi, who is currently lodged in a London jail, his uncle Mehul Choksi and others are being probed by the Enforcement Directorate (ED) in the Punjab National Bank (PNB) money laundering case since 2018. The diamond merchant's younger sister Purvi Modi (47) is a Belgian national while her husband Maiank Mehta is a British citizen. They are stated to be based abroad and have never joined the probe.
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