The case revolves around “Nest Wing B” (MahaRERA Reg. No. P51800011373), a slum rehabilitation scheme on CTS Nos. 193, 196 and parts thereof in Andheri (Mumbai Suburban). Here’s the exact chronological sequence of events that led to the February 2, 2026 order:

2017: SSSC Escatics Pvt. Ltd. registers the project with MahaRERA. Proposed completion date is March 31, 2019 (later revised to March 31, 2020). 2017–2021: SSSC takes an ₹80-crore loan from Altico, defaults, and the debt is assigned to Asset Care and Reconstruction Enterprise Ltd. (ACRE). July 2021: ACRE takes symbolic possession. September 2023: ACRE obtains physical possession through court orders. May 2022–December 2022: ACRE approaches SRA for change of promoter under the Amnesty Scheme. March 18, 2024: Sainagar Seva CHS and Shivshakti CGS file applications under Section 13(2) of the Maharashtra Slum Areas Act seeking removal of SSSC. October 24, 2024: SRA terminates SSSC as developer and formally appoints M86 Residency Private Limited as the new promoter. SRA issues fresh Letter of Intent on December 24, 2024 and amended Intimation of Approval on March 19, 2025. September 25, 2025: M86 applies for fresh RERA registration (REPR1181012500334), citing multiple legacy non-compliances in the old registration. December 15, 2025: MahaRERA hears the matter. Allottees appear through advocates and raise concerns about their rights. February 2, 2026: MahaRERA passes the landmark order.

In its 12-page reasoned order, the Authority clarified that this was not a voluntary transfer under Section 15 of RERA (which would have shifted liabilities to the new promoter). Instead, it was a statutory removal by SRA due to the old promoter’s defaults. Therefore:

• M86 Residency Private Limited will receive a fresh RERA registration number and can now market, sell and fund the project cleanly.
• The old registration P51800011373 is placed in abeyance (kept alive but suspended) so that existing allottees can continue filing complaints against SSSC Escatics for refunds, interest, or penalties.
• A lien has been imposed on any reimbursement amount M86 owes to SSSC (to be valued by a government-approved valuer). This money cannot be fully released until SSSC settles claims of its old buyers.
• SSSC is barred from any further sales or marketing in the project.
• ACRE (the lender) is explicitly not treated as a promoter — its role remains only that of a secured creditor.

For homebuyers who booked with SSSC years ago, the message is clear: your agreements and claims remain enforceable against the original promoter, and MahaRERA has created a practical safety net through the lien and the abeyance mechanism. If SSSC fails to pay, the withheld funds can be used to satisfy those claims.

The project, which was languishing due to non-performance and funding issues, can now move forward under the new developer with fresh approvals and timelines. MahaRERA has balanced two goals — reviving a stalled SRA scheme so that rehabilitation and sale components can be completed, while ensuring that duped homebuyers are not left high and dry.

Also Read: Developers With Incomplete RERA Applications Asked to Reapply After MahaRERA Closes Old Portal Cases

The post New Builder Takes Over Stalled Andheri SRA Project; RERA Imposes Lien to Protect Homebuyers appeared first on Square Feat India.

Both project sites have already been demolished to ground level and are now awaiting Commencement Certificates, paving the way for construction to begin shortly. Sanghvi Tirth in Andheri has a GDV of ₹100 crore, while Sanghvi Morya in Shivaji Park is valued at ₹120 crore.

The company’s latest strategic move reinforces its confidence in Mumbai’s established residential corridors—locations known for strong connectivity, robust social infrastructure, and consistent end-user demand.

These launches come on the heels of Sanghvi Realty’s successful recent pipeline, which includes Sanghvi Palazzo in Andheri, Sanghvi Aria in Santacruz, and Sanghvi Optima in Dadar—projects that have bolstered the company’s reputation for execution and timely deliveries.

Pakshal Sanghvi, Director, Sanghvi Realty, said, “These two launches represent our conviction in Mumbai’s core residential markets. Andheri and Shivaji Park have enduring appeal because of their connectivity, infrastructure, and established communities. With Tirth and Morya, we’re bringing our delivery-led philosophy to locations where homebuyers value transparency and timely construction.”

Andheri continues to attract young professionals and families because of its proximity to business hubs and easy access to public transport networks. Shivaji Park, with its historical significance, open spaces, and accessibility to South Mumbai, remains a preferred choice for premium homebuyers seeking long-term residence.

Shankesh Sanghvi, Director, Sanghvi Realty, said, “Launching Tirth and Morya simultaneously allows us to engage different buyer segments across two of Mumbai’s most promising micro-markets. Homebuyers have shown strong confidence in our recent projects due to our regulatory compliance and consistent delivery. As construction begins soon, we aim to uphold the same standards.”

Sanghvi Realty recently delivered Sanghvi Infenia in Santacruz East and provided soft possession at Sanghvi Palazzo, reinforcing its delivery-first approach—an important differentiator in Mumbai’s evolving real estate landscape where credibility at handover increasingly defines trust.

With demolition completed and permissions underway, Sanghvi Tirth and Sanghvi Morya are positioned for swift construction starts. The developer will announce configurations, amenities, and timelines once Commencement Certificates are issued.

Also Read: Sugee Group Marks Successful Completion of homes promised before its scheduled time to 160+ Families at ‘Sugee Atharva’

The post Sanghvi Realty Expands Mumbai Portfolio With New Andheri & Shivaji Park Projects, GDV at ₹220 Crore appeared first on Square Feat India.

Background: From Promise to Stalemate

The land under dispute, located in Andheri (Vile Parle East), Mumbai Suburban District, was declared a slum area under the Maharashtra Slum Areas (Improvement, Clearance and Redevelopment) Act, 1971. The initial redevelopment scheme was sanctioned in favor of M/s Charmme Enterprises in 2007 via a Letter of Intent (LOI) by the SRA. However, due to serious non-performance issues, including non-payment of rent to slum dwellers, delays, and failure to implement the rehabilitation scheme, the developer’s appointment was formally terminated by the SRA on January 20, 2023.

This termination opened the door for the housing society — Om Shree SRA Co-op Housing Society — to appoint a new developer of their choice. In a resolution passed on September 12, 2023, the society, in the presence of the Assistant Registrar of SRA, appointed Simran Production LLP as the incoming promoter.

MahaRERA Proceedings

The matter was heard suo motu by MahaRERA on April 8, 2025, with a panel consisting of Chairperson Manoj Saunik, Member-I Mahesh Pathak, and Member-II Ravindra Deshpande. The existing promoter failed to appear, while senior advocate M. M. Vashi represented the incoming promoter.

MahaRERA observed that the incoming promoter’s appointment was not a voluntary transfer under Section 15 of the RERA Act, which would have required consent from two-thirds of the existing allottees. Instead, it was a statutory termination by the SRA followed by a fresh appointment. Therefore, the transfer did not fall within the purview of Section 15 and did not automatically shift liabilities of the previous promoter to the new one.

Key Observations by MahaRERA

• Incoming promoter to be considered the official “Promoter” under RERA for the purpose of fresh registration and execution of the project.
• The existing registration of the project will be kept in abeyance.
• Existing promoter M/s Charmme Enterprises is prohibited from selling, booking, or advertising the project.
• Existing homebuyers (46 in number) can still enforce their claims against the original promoter, who remains under MahaRERA’s regulatory oversight.
• Incoming promoter has already repaid financial liabilities of the previous developer to ECL Finance and is paying rent to the slum dwellers as required.

New Development Plan

Simran Production LLP has proposed a new layout consisting of:

• Two rehab buildings (Wings A, B, and E) with 11–14 storeys.
• One sale building named Simran Enclave, consisting of two wings with 14 storeys and a basement.
• Revised LOI dated March 13, 2024, and Commencement Certificate revalidated on March 25, 2024, have been issued in their favor.

Final Order

MahaRERA has passed the following key directives:

1. Fresh project registration will be issued after due scrutiny.
2. A new designated bank account must be opened for financial compliance.
3. Old promoter’s registration is suspended, and no new sales or bookings are allowed.
4. Existing promoter is directed to settle all dues and claims of past allottees.
5. Allottees may approach MahaRERA in case of non-compliance.

Conclusion

This decision marks an important precedent in how regulatory authorities can balance consumer protection with practical redevelopment needs in Mumbai’s complex real estate and slum rehabilitation ecosystem. With fresh registration and a clear legal mandate, the incoming promoter now has the green light to revive a long-stalled project, offering hope to both displaced slum dwellers and stuck homebuyers.

Also Read: MahaRERA fine Builders for printing ads without MahaRERA number

The post MahaRERA Grants Fresh Registration for Andheri SRA Project, Puts Old Developer on Hold appeared first on Square Feat India.

The launch marks a bold new chapter in urban housing, with Tribeca targeting a severely underserved market — the 10 million+ single Millennials living and working in India’s top metros. Their preference for flexible, high-quality rental homes has long clashed with the country’s outdated housing stock. With studios accounting for less than 0.5% of India’s residential inventory, demand far outweighs supply.

Trilive’s first project in Marol, Andheri, includes 650 studio apartments acquired from Mumbai-based Starwing Group, out of which the first 300 units are now open for sale. These units are expected to generate a 6% rental yield, backed by a 9-year lease from Housr, India’s largest luxury co-living platform.

Housr, co-founded by Tribeca’s Kalpesh Mehta and backed by investors like HDFC Capital and the Serum Institute of India, will manage the project end-to-end — ensuring zero maintenance, steady rental income, and a premium living experience. The apartments come equipped with private balconies, modern furnishings, and access to premium amenities like coworking spaces, gyms, mini theaters, rooftop lounges, and app-based management.

Kalpesh Mehta, Founder of Tribeca and Trilive, said:

“With Trilive, we are addressing a massive housing gap. Our goal is to deliver trophy-quality rental homes to working professionals across India. We’re proud to begin with a landmark project in Andheri, in partnership with Starwing and Housr.”

Deepak Anand, CEO & Co-founder of Housr, added:

“We’ve proven the demand — our 75 properties across 5 cities run at over 95% occupancy. What’s lacking is supply. With Trilive, we’re finally solving that problem at scale.”

Positioned near three metro lines and over 40,000 companies, Trilive Andheri is expected to attract not just end-users but also real estate investors. At a competitive ₹70 lakh price point with high yields and zero operational hassle, the platform offers a compelling alternative to traditional low-yield rental investments in India.

As Housr gears up to scale to 7,000–8,000 beds across India over the next 2–3 years, Trilive could become a game-changer in India’s rental housing sector — starting with Andheri’s skyline.

Also Read: Ranbir Kapoor puts his Pune Home on Rent

The post Trump’s India Partner Tribeca Launches ₹70 Lakh Studio Apartments in Andheri appeared first on Square Feat India.

Government initiatives aimed at infrastructural development are further propelling commercial growth, creating a favourable environment for investors and businesses alike. The Mumbai Metropolitan Region Development Authority (MMRDA) has been instrumental in enhancing the city’s connectivity, weaving a web of new highways, metro lines, and transport links. This enhanced connectivity not only eases daily commutes but also opens up new areas for development, setting the stage for unprecedented real estate expansion. In a city where major micro markets such as Bandra-Kurla Complex, Nariman Point, Lower Parel, Worli, Thane, Airoli, Vikhroli and Goregaon are already witnessing a commercial growth; Andheri leads the pack for commercial investment due to its strategic location and infrastructural upgrades.

Aakash Patel, Director of Atul Projects, encapsulates the essence of Andheri’s allure as a commercial destination, stating, “Within the dynamic realm of commercial real estate in Mumbai, Andheri stands out as a hub of innovation and opportunity. It stands tall as one of the best places to invest in business spaces, where every square foot echoes the promise of profitable tomorrows due to its rising market and advantageous location. The monthly rentals in the area at an average of INR 125/sqft are steadily growing at 2.9% YoY.”

We have constructed some of the most elegant and iconic workspaces and our recent addition being Atul Second Avenue at Andheri East which is receiving a stupendous response from the investors alike.”

What sets Andheri apart is its exceptional connectivity, positioning it as a prime location for real estate investment. The recent introduction of the Mumbai Metro Lines 2A & 7 offers seamless connectivity and has revolutionized daily commutes, reducing travel times significantly. Proximity to the Chhatrapati Shivaji Maharaj International Airport has turned Andheri into a magnet for corporates seeking a strategic location, both for domestic operations and international business interactions.

Andheri’s seamless connectivity extends beyond metro lines, encompassing the Eastern and Western Express Highways. Strategic roads like the Andheri-Kurla Link Road and the Jogeshwari-Vikhroli Link Road (JVLR) ensure swift access to the western and central suburbs, making it an ideal choice for businesses and individuals alike. This accessibility factor has not only lured corporates but also made Andheri a favoured choice for those seeking convenient living options in the heart of the city.

In a city where real estate opportunities are as dynamic as the city itself, Andheri represents more than just a location; it embodies Mumbai’s spirit of advancement and innovation. As the commercial real estate market continues its upward trajectory, Andheri stands as a testament to Mumbai’s unwavering commitment to progress. In its bustling streets and towering buildings, it promises a future where every business venture finds its space to thrive, making it a shining beacon in Mumbai’s ever-evolving skyline.

Also Read: Coworking Drives Commercial RE Through Turbulent Times 

The post Commercial Real Estate Market in Mumbai appeared first on Square Feat India.

The deal that was registered on November 16, this year saw Skechers buying 32,644 sq. ft. saleable area from Lakepoint Builders Pvt. Ltd.

The property details include Units: G01, G02, 303, 303A, 304, located in Fulcrum Building, Shankar Mandal Road, Andheri East, Mumbai.

According to documents provided to SquareFeatIndia by CRE Matrix, a real estate data analytics firm, the stamp duty paid for the registration of the deal is ₹4.30 crore.

Along with the office units Skechers will also have access to 28 car parks in the building.

According to CRE Matrix, in February 2022, Skechers South Asia Pvt Ltd had bought office spaces in same building for ₹175 crore.

Also Read: Janhvi, Khushi & Boney Kapoor buy Bandra Duplex for Rs 65 Cr

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