'Developers have started offering 70% to 100% extra area and beyond.' 'If the market cycle shifts -- as many are already predicting with signs of price saturation and reduction -- most recent redevelopment projects will unravel.'
Adani Properties Pvt Ltd (APPL) has emerged as the highest bidder for the redevelopment of Motilal Nagar in Mumbai, offering more built-up area than its nearest rival, L&T. This will be the second mega redevelopment project of Adani Group in Mumbai, after the Dharavi slum redevelopment project. The total estimated redevelopment cost of Motilal Nagar is around Rs 36,000 crore, and the rehabilitation period is seven years from the project start/commencement date. The project will rehabilitate 3,372 residential units eligible under MHADA, 328 eligible commercial units and 1,600 eligible slum tenements.
After the Dharavi slum redevelopment project, billionaire Gautam Adani's group has emerged as the highest bidder for the Rs 36,000 crore redevelopment of Motilal Nagar in Mumbai, sources said. Motilal Nagar I, II & III is one of Mumbai's biggest housing redevelopment projects, covering 143 acres in western suburb of Goregaon (W).
This plot, allotted to Sunil Gavaskar Cricket Foundation Trust, was returned to the state government by the cricket legend in May 2022.
Maharashtra Chief Minister Eknath Shinde on Sunday said the state assembly polls are expected to be held in the second week of November and seat-sharing among the ruling allies would be finalised in the next 8 to 10 days.
Former mill workers from the city and their family members queue to prove their work history in the city to become eligible for subsidised housing provided by the government agency, MHADA.
In a significant verdict, the Supreme Court by a majority of 7:2 on Tuesday held all private properties cannot form part of "material resources of the community" empowering states to take them over for distribution to serve "common good" under the Constitution.
The MHADA, which comes under Awhad's ministry, had requested Gavaskar to return the unused plot.
While political experts claim that the Modi Magic is missing in the 2024 general election, the common people in the street -- at least those in the crowd on Thursday -- vow that they will vote for Modi and the candidate who contests the election doesn't matter much.
'Gautam Adani will not be able to step inside Dharavi.' 'We will ensure Adani will not get what he wants.' 'Adani has no reason to do politics with people of Dharavi but he is still doing it.'
A special court in Mumbai on Wednesday granted bail to Shiv Sena member of Parliament Sanjay Raut in a money laundering case pertaining to the Patra Chawl redevelopment project.
He also said that it had been decided to give the houses to the MLAs at a certain price and not free of cost.
More than 500 people, including women, from Mumbai and neighbouring Thane and Navi Mumbai gathered over the last 20 days at the government plot spread in several acres on JVLR Link Road in Tagore Nagar of Vikhroli.
The court allowed Raut's plea for home food and medicines, but refused to pass an order on his prayer for bedding.
While extending the custody, the court noted that the ED has made 'remarkable progress' in the investigation.
The ED probe pertains to alleged financial irregularities in the redevelopment of Patra Chawl, a tenement, and related financial transactions involving his wife and associates.
Uddhav claimed that splits were engineered in many parties using central agencies and arrests were made illegally.
A case has been registered against two shop owners after a portion of a four-storey residential building collapsed in Mumbai on Tuesday evening.According to the police, Yunus Kasam Memon and Irfan Yusuf Memon, who own a shop of mobile handset covers, had allegedly added a staircase without seeking permission. This led to collapse of the building 'Yusuf Manzil' at Lamington Road.Meanwhile, an 85-year-old woman, who was seriously injured in the collapse, died on Tuesday.
The ill-fated building had been partly vacated for repairs by Maharashtra Housing and Area Development Authority, BMC sources said.
MHADA has earned Rs 8.82 million. With a single form available for Rs 100, the housing body is expecting to sell anything between 70,000 to 100,000 forms per day, sources said. As many as 88,222 forms were sold across the 21 branches of HDFC Bank on Monday, the first day for the sale of forms for the 3,863 MHADA flats across the city, official sources said. HDFC Bank has been appointed as the official seller and receiver of the forms.
A special court in Mumbai on Monday remanded Shiv Sena leader Sanjay Raut to the custody of the Enforcement Directorate (ED) till August 4 in a money laundering case.
While two persons died after a portion of a `chawl' (tenement) collapsed in suburban Malvani, two others were killed after part of an old building collapsed in south Mumbai's Fort area, civic officials said.
The rescuers had to make hectic efforts to remove the mangled frames of furniture, including large sofas, from the rubble at the mishap site.
The Central Bureau of Investigation is likely to file chargesheet against diplomat Devyani Khobragade and her father Uttam Khobragade in the Adarsh Housing scam for allegedly acquiring a flat on the basis of false affidavit.
Narrow lanes and bylanes, small houses, unhygienic living conditions, common toilets and several other factors are responsible for the easy spread of COVID-19 in Dharavi, apart from non-adherence to social distancing norms.
Around 14 people injured in the collapse are undergoing treatment.
Taking a cue from neighbouring Gujarat and its successful Vibrant Gujarat summit, Maharashtra has organised a conclave -Transforming MMR into a Global Financial, Commercial and Entertainment Hub - on February 6.
However, the realty players will have to pursue their long-pending demands with the state government for abolition of the Urban Land Ceiling Act, speedy approvals to expedite redevelopment of Maharashtra Housing and Area Development Authority buildings, development of cluster development, rental and affordable housing.
'The two-word answer is: Proper oversight,' says T N Ninan.
Fire brigade, Mumbai Police and civic officials rushed to the site to carry out the rescue operation.
This is the second major building collapse in the city in just over a month.
Sensex, Nifty under pressure on weak global cues.
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