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Varun Singh, is a Senior Journalist who has extensively covered the Real Estate Sector for over one and half decade. His articles, insights, and opinion on the sector are widely read.

Tesla Signs India’s Most Expensive Auto Showroom Lease in Mumbai’s BKC for ₹23.38 Crore

Tesla has leased 4,000 sq. ft. of showroom space in Mumbai’s Bandra Kurla Complex at a record ₹881 per sq. ft., making it the most expensive auto showroom lease in India. The five-year agreement, valued at ₹23.38 crore, includes a ₹2.11 crore security deposit and a 5 percent annual rent escalation clause. Tesla’s Mumbai showroom in Maker Maxity marks a significant step in its India expansion strategy.

Maharashtra Government Allocates Land in Bandra Reclamation for Ajinkya Rahane’s Cricket and Sports Training Center

The Maharashtra government has allocated 2,000 square meters of land in Bandra Reclamation to cricketer Ajinkya Rahane for a Cricket and Sports Training Center. The revised resolution, approved on October 14, 2024, expands the facility’s scope beyond cricket and aligns construction with DCPR 2034 guidelines.

Maharashtra Government Revises Urban Tribal Settlement Improvement Scheme

The Maharashtra government has revised the Nagari Adivasi Vasti Sudharana Yojana, removing the ₹25 lakh funding cap for urban tribal settlements. Now, financial assistance will be based on project quality and municipal requirements, with approvals granted by the state government. The scheme aims to improve infrastructure and living conditions for tribal communities across Maharashtra.
Mumbai Metropolitan Region topped India's land deals in 2025 with 32 transactions for over 500 acres, driving national total to 3,772+ acres amid strong demand for residential, mixed-use, industrial and data centre projects – per ANAROCK Research.

Govt to Allow Conversion of Leasehold Land to Freehold at 25% Above Ready Reckoner Rate

The Maharashtra government has issued a final notification allowing leasehold and Occupancy Class II lands to be converted to freehold upon payment of a premium of up to 25% of the Ready Reckoner rate. The revised premium rates, applicable until December 31, 2025, aim to grant full ownership rights to individuals, housing societies, and industries.
MHADA

MHADA Extends Deadline for Lottery Applications

The Nashik Board of MHADA has extended the deadline for submitting applications for 502 flats under the 20% inclusive housing scheme. Applicants can now apply online until March 20, 2025, with EMD payments accepted until March 21. The lottery draw date will be announced soon. Interested buyers must apply only through MHADA’s official website to avoid fraud.