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mumbai redevelopment

43 posts
In a rare and significant move, BMC has terminated the 999-year lease of a historic Worli property once housing Flora Chinese Restaurant, after lessees failed to redevelop or pay dues. Backed by High Court orders, the action highlights a new assertive approach to Mumbai’s legacy leasehold lands — with major implications for owners, tenants, and the city’s redevelopment landscape.

📰 BMC Terminates 999-Year Lease of Iconic Worli Property — A Turning Point for Leasehold Lands in Mumbai?

In a rare and significant move, BMC has terminated the 999-year lease of a historic Worli property once housing Flora Chinese Restaurant, after lessees failed to redevelop or pay dues. Backed by High Court orders, the action highlights a new assertive approach to Mumbai’s legacy leasehold lands — with major implications for owners, tenants, and the city’s redevelopment landscape.
MHADA

MHADA Eases Premium Payment Norms for Redevelopment Projects

MHADA has eased premium payment rules for redevelopment under Regulation 33(5), allowing payments in 5–6 installments depending on plot size. The move aligns with MCGM norms, reduces financial pressure, and aims to accelerate redevelopment of MHADA layouts.
Housing Societies Can Claim Tax Relief on Interest Only from These Banks – Mumbai ITAT restores case of Chembur society and directs fresh verification as per Supreme Court judgment.

Stuck With Deemed Conveyance? Maharashtra Govt Launches Statewide 4-Day Camp for Housing Societies

Housing societies across Maharashtra struggling with Deemed Conveyance delays have reason to cheer. The state government is holding a special 4-day campaign from Sep 27–30, 2025 to pre-check documents for stamp duty adjudication, helping societies prepare complete applications and paving the way for faster property ownership transfer and redevelopment.
Foreign universities in India could save US$113 billion in forex, serve over 560,000 students and create 19 million sq ft of education real estate demand, says a Deloitte–Knight Frank report.

Mumbai Redevelopment to Unlock 44,000+ Homes Worth ₹1.3 Trillion by 2030

Mumbai’s housing landscape is set for a major transformation with over 44,000 homes worth ₹1.3 trillion expected through society redevelopment by 2030. Suburban corridors lead with 96% of deals, while the state government eyes over ₹20,800 crore in revenue.

Puravankara Secures Malabar Hill Redevelopment Project Worth ₹2,700 Crore

Puravankara Limited, through its subsidiary Purva Blue Agate Pvt Ltd, has secured the redevelopment rights for a 1.43-acre society in Malabar Hill. With a development potential of 0.7 million sq. ft. and a GDV of ₹2,700 crore, the project will deliver new luxury homes to existing residents and create premium inventory for sale. This marks Puravankara’s second major South Mumbai redevelopment after Breach Candy’s Miami Apartments, expanding its city portfolio to 4.25 million sq. ft. with a GDV potential of ₹10,500 crore.