The government order, issued by the Urban Development Department under GR No. MRD-3326/PR.No.47/NV-7 and signed by Joint Secretary Vijay Chaudhary, brings the cumulative NDB loan disbursed to MMRDA for these three metro lines to ₹1,020.78 crore. Prior disbursements had cumulatively reached ₹993.80 crore across 12 tranches stretching from March 2021 to March 2026, with this latest release being the 13th instalment.

The NDB loan — Loan No. 18IN04 — was originally sanctioned for $260 million (approximately ₹1,814 crore at a reference rate of ₹69.78 per dollar). The repayment schedule runs in semi-annual instalments of $6.5 million each, starting from March 15, 2024 and continuing through September 15, 2043 — totalling 40 instalments. A moratorium of five years from the date of the loan agreement was provided before repayments began. The interest rate applicable is as per Section 3.4 of the NDB loan agreement, with no penal interest charged for delays.

The order mandates that funds be credited into MMRDA’s designated Escrow Account and that accounts be maintained in the format prescribed by the Comptroller and Auditor General. MMRDA is also required to ensure the loan is used strictly for the purposes sanctioned under the NDB agreement, and to submit expenditure details to both state and central governments for audit. Commitment charges and interest accrued up to the date of the government order are required to be deposited back into the state treasury immediately.

What This Means for Commuters and Residents

The three metro lines being funded — 2A, 2B, and 7 — collectively form the backbone of north and central Mumbai’s elevated metro network and are transformative for millions of daily commuters.

Metro Line 2A is fully operational, running 18.6 km between Dahisar East and DN Nagar in Andheri West with 17 stations, covering localities including Kandivali West, Malad West, Goregaon West, Oshiwara, and Andheri West. The line has significantly reduced traffic pressure on the Western Express Highway and Link Road.

Metro Line 7, the Red Line, covers roughly 16.5 km between Andheri East and Dahisar East with 14 stations, serving densely populated eastern suburbs including Jogeshwari East, Aarey Colony, Goregaon East, Malad East, and Dahisar East.

Metro Line 2B is the critical missing link that will connect the western and eastern suburbs of Mumbai through a single elevated corridor. The 23.643 km line with 20 stations will run from DN Nagar to Mandale, providing interconnectivity with the Western Express Highway, Eastern Express Highway, Western Railway, Central Railway, Monorail, and multiple other metro lines. Key areas it will serve include Bandra, Bandra Kurla Complex, Kurla, Chembur, Mankhurd, and Mandale. A 5.8 km section between Diamond Garden and Mandale was made operational for passengers in April 2026, with the full line expected to be completed by 2027.

Once fully operational, Line 2B is projected to cut travel time by 50% to 75% depending on prevailing road conditions. For residents of Kurla, commuters heading to BKC, and those travelling between the western and eastern suburbs — a journey that can currently consume over an hour in traffic — the line will dramatically shrink daily commute times and is expected to serve over one million daily riders.

For ordinary Mumbaikars, the continued flow of NDB funding ensures that construction work does not stall. Metro projects of this scale depend on uninterrupted financing to maintain contractor payments, equipment procurement, and civil work schedules. Each disbursement directly translates to kilometres of viaduct completed, stations fitted out, and systems installed. The escrow mechanism mandated in this government order further ensures funds cannot be diverted to any other purpose.

Property values in areas along the Line 2B corridor — including Bandra Kurla Complex, Chembur, Kurla, and Mankhurd — are expected to appreciate significantly once the line becomes fully operational. For existing homeowners and tenants in these localities, improved metro access will also translate to lower commute costs and better access to employment centres without dependence on private vehicles or overcrowded suburban trains.

The NDB, headquartered in Shanghai, is a multilateral development bank established by the BRICS nations. Its continued lending for Mumbai’s metro infrastructure underscores the long-term commitment to building out the city’s mass transit backbone over the coming decade.

Also Read: PM to Inaugurate Mumbai Metro Line Today

The post Maharashtra Releases ₹26.97 Crore NDB Loan for Mumbai Metro Lines 2A, 2B & 7 appeared first on Square Feat India.

Justice Kamal Khata delivered the verdict on November 4, 2025, while dismissing multiple appeals filed by Satish Inamdar and Swapna Inamdar, who had purchased flats in a redevelopment project at Nehru Nagar, Kurla (East), initiated by developer Amogh Sawant.

Background of the Case

The case revolved around redevelopment of a MHADA-leased plot (Survey No. 229 & 267, CTS No. 6 part) belonging to Nehru Nagar Vidyut Vilas Co-operative Housing Society Ltd. The Society had earlier appointed Amogh Sawant, sole proprietor of M/s Adit Enterprises, as its developer under a 2008 development agreement.

Over time, several third-party buyers entered into agreements, MoUs, or allotment letters with Sawant for the free-sale flats in the project. However, in 2015, the Society terminated his development rights and subsequently appointed Kabra Infrastructure and Developers LLP as the new developer. The arbitration award in 2022 upheld the termination and dismissed Sawant’s counterclaim.

The flat purchasers then approached the court, arguing that they had paid substantial amounts and held valid sale agreements executed when the earlier development agreement and power of attorney were still in force. They sought to restrain the Society and the new developer from demolishing or constructing the building without recognizing their rights.

Court’s Findings

Justice Khata observed that the question before the Court was whether third-party purchasers could assert rights through a developer whose appointment was lawfully terminated.

The Court held that the issue was no longer res integra and had been settled through a series of prior judgments including:

• Vaidehi Akash Housing Pvt. Ltd. vs. D.N. Nagar CHS Union Ltd. (2014)
• Goregaon Pearl CHS vs. Dr. Seema Mahadev Paryekar (2019)
• Deepak Prabhakar Thakoor vs. MHADA (2023)
• Kapilkunj CHS vs. State of Maharashtra (2023)
• Tuvin Constructions LLP vs. State of Maharashtra (2025)

All these cases reaffirmed that once a society terminates a development agreement, flat purchasers claiming through that developer lose all derivative rights. The Society cannot be treated as a “promoter” under the Maharashtra Ownership Flats Act (MOFA), nor can the new developer be held liable for sales made by the terminated developer.

The Court clarified that such buyers’ remedies, if any, lie only against the erstwhile developer, not the Society or the new developer.

Key Legal Principles Highlighted

1. No Privity of Contract: Purchasers of flats through the terminated developer have no direct contractual relationship with the Society.
2. Society Not a Promoter: As the landowner, the Society cannot be saddled with statutory promoter obligations under MOFA.
3. Developer’s Termination Valid: Once the arbitration award upholding the termination becomes final, it binds all parties claiming through that developer.
4. Buyers’ Remedies Limited to Damages: The only legal recourse available to such buyers is to seek damages or recovery from the original developer.

Conclusion

The Bombay High Court reaffirmed that homebuyers purchasing from a developer whose contract is later terminated cannot claim rights in the Society’s property. The Court emphasized that redevelopment primarily exists to rehabilitate society members and cannot be obstructed by third-party claims arising from the terminated developer’s actions.

Also Read: Renewal of Lease = New Lease, Attracts Stamp Duty Bombay High Court

The post Bombay High Court: Flat Buyers In Redevelopment Project Can’t Claim Rights Against Society After Developer’s Termination appeared first on Square Feat India.

In a landmark decision set to bring significant convenience to millions of Mumbaikars, the Maharashtra Revenue and Forests Department has eliminated the jurisdictional restriction on document registration. Effective October 10th, 2025, citizens, businesses, and company owners across Mumbai city and its suburbs can now complete the document registration process (Adjudication of Documents) at any of the six designated stamp offices, irrespective of their residential or business location.

This crucial notification, issued by the Revenue and Forests Department, supersedes all earlier orders, granting Mumbaikars unprecedented flexibility in handling their vital paperwork.

Goodbye to Jurisdiction Headaches

Until now, the process of registering documents—including property agreements, lease agreements, and inheritance deeds—was mandatorily confined to the specific stamp office under whose jurisdiction the citizen resided or the property was located. This often meant long travel times and queuing at a single, overburdened office.

The new policy removes this spatial barrier entirely. Mumbaikars are now free to choose from any of the following six offices appointed as Collectors for the Revenue Districts of Mumbai City and Mumbai Suburban:

• Collector of Stamps (Mumbai)
• Collector of Stamps (Andheri)
• Collector of Stamps (Borivali)
• Collector of Stamps (Kurla)
• Collector of Stamps (Enforcement-I – near Old Custom House)
• Collector of Stamps (Enforcement-II)

Convenience is Key: Shortening Queues, Saving Time

The primary benefit of this decision is the drastic reduction in time and effort spent by citizens. By being able to visit whichever office has the shortest queue, citizens can expedite the registration process for important transactions. This measure is expected to be a boon for prospective home buyers, property owners, and business entities dealing with real estate and legal documentation.

The Revenue Minister for the state of Maharashtra, Chandrsekhar Bawankule, highlighted the dual benefit of this forward-looking move.

“This is an important decision aimed at ease of doing business and living for the people of Mumbai,” said Chandrsekhar Bawankule. “It will allow citizens to register their property agreements at any office, thereby reducing their time and burden. Furthermore, by making the process less cumbersome, we anticipate more people will register their documents promptly, leading to an effective increase in revenue for the government. It’s a win-win for both the citizen and the state.”

The notification, signed by Satyanarayan Shivprasad Bajaj, Joint Secretary to the Government, confirms that the Government of Maharashtra has appointed these six officers to exercise the powers conferred under the Maharashtra Stamp Act, 1958.

Also Read: Now register property agreement at builder’s office

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Speaking at the Real Estate Forum 2025, held on the sidelines of the property expo, Sarnaik said that the Maharashtra State Road Development Corporation (MSRDC) holds more than 13,000 acres of land at key locations including Kurla, Borivali, and other towns across the state. “To utilise these lands and redevelop the existing bus depots, the government has decided to extend the lease period from the earlier 30 years to 98 years. These ST bus depots will be developed as modern bus ports, similar to the model adopted in Gujarat,” he said.

Sarnaik urged the state’s real estate developers to actively participate in the upcoming tenders for the development of these depots.

He further revealed that the much-awaited pod taxi service will soon commence operations in Bandra-Kurla Complex (BKC) and later expand to other parts of the Mumbai Metropolitan Region, including Mira-Bhayandar and Thane.

Highlighting the government’s commitment to holistic development across sectors, Sarnaik stressed that real estate growth in semi-urban and rural regions will play a crucial role in boosting affordable housing.

Also Reads: Maharashtra Govt Considers Stamp Duty Concessions

The post Maha Transport Min to Open Tenders for 98-Year Lease of ST Bus Depots appeared first on Square Feat India.

Lodha, developer, announced that Lodha Green Digital Infrastructure (LGDI) platform has acquired ~8 acres of land in Kurla (Mumbai). The land will be used for the development of ~4 lakhs sq. ft. of Grade-A multi-tenanted in-city fulfilment centre to provide the last mile warehousing infrastructure to 3PL, e-commerce, and quick-commerce companies.

The development will involve a total investment of ~Rs 330 crores and is expected to be completed in the next 12-18 months in
phases.Commenting on the partnership, Shaishav Dharia, Director, Lodha Green Digital Infrastructure said, “We are delighted to announce the expansion of the LDGI platform through our second acquisition in Mumbai. This will be the first institutional investment of scale in “in-city logistics asset” in Mumbai. We are focused to bring extensive experience in this asset class and dedicated resources to support the growth of this platform. We see that there is a huge demand for Grade-A digital infrastructure in our country and we are aligned with our aim to develop industrial and logistics parks as well in-city logistics assets across multiple cities in India. With such developments, there will be growth in logistics efficiency and creating job opportunities in different parts of the country. We will focus on building and operating this digital infrastructure to the highest levels of environmental sustainability with the view to creating a global benchmark.”

This is the second asset acquired by the Lodha Green Digital Infrastructure (LGDI) platform in Mumbai as it seeks to acquire more such assets in the city and other key consumption/manufacturing hubs across India like Pune, Bangalore, NCR, and other cities. Ideally located for the development of a last-mile delivery hub, Kurla as a location has a strategic advantage due to its proximity to Mumbai airport and being situated in the middle of consumption hubs like BKC, Bandra, Powai, Andheri, Vikhroli, Chembur, and Kanjur Marg. The first project was a ~110-acre logistics and industrial park development at Palava, an established location for digital
infrastructure in Mumbai Metropolitan Region.

Earlier this year, Lodha announced a partnership with Bain Capital and Ivanhoé Cambridge to develop a nextgeneration green digital infrastructure platform. The objective of the platform is to establish a pan-India presence in the digital infrastructure space that includes logistics and light industrial parks as well as in-city fulfilment centres. The platform has jointly invested ~USD 1 billion to create ~30 million sq. ft. of operating assets to serve India’s digital economy.

Also Read: Lodha Promoters raise approximately Rs. 3,547 crores through QIP; enabling the company to achieve MPS threshold

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By Varun Singh

Faraz Nawab Malik, son of minister Nawab Malik, recently shelled out Rs 9.95 crore to buy an apartment in Mumbai’s Bandra west.

The reason behind the shifting is being attributed to flooding in Kurla which has become an yearly phenomenon and where the Malik’s currently reside.

The flat is located on the 19th floor of the building named 81 Aureate in Bandra west.

The documentation in regards to the flat was carried out on March 31, 2021 while it was registered on July 30, 2021.

According to documents accessed by SquareFeatIndia, the total area of the apartment is 3889 square feet including a terrace that measures 1,653 square feet.

Stamp duty of Rs 29.89 lakh was paid for the registration of the apartment. Till March 31, 2021, the stamp duty payable for registration of apartments was 3%. Stamp duty was hiked to the regular rates from April 1, 2021.

When contacted Faraz Nawab Malik, he confirmed the purchase. He said, “This flat is for family, we will be moving here (Bandra) from Kurla. Every year there’s a flooding in Kurla and hence the decision to shift.”

Along with the flat, the new owners will have an access to three car parks in the building.

Nawab Malik is the minister in the Uddhav Thackeray led Maha Vikas Aghadi (MVA) government in the state of Maharashtra. Chief Minister Uddhav Thackeray is also the president of Shiv Sena which has been in power in the BrihanMumbai Municipal Corporation, the civic body of the city.

Faraz Nawab Malik even stressed on the point that the Bandra house has been bought on a loan.

Also Read: Prajay Praful Patel sells Worli Flat for Rs 45 Crore

The post Nawab Malik’s son Buys Rs 9.95 Crore Flat in Bandra says flooding in Kurla reason for Shift appeared first on Square Feat India.