Browsing Tag

mumbai redevelopment

49 posts

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.
RBI

RBI Holds Repo Rate at 5.5% — Home Loan Interest To Remain As It Is

With the RBI holding the repo rate at 5.5%, homebuyers can expect stable EMIs and continued affordability. Experts say the decision supports confidence ahead of the festive season, while developers prepare offers to sustain momentum in the housing market.
Godrej bought RK Studios

MahaRERA Orders Refund Paid for Seven Flats in Godrej RKS Project

MahaRERA has directed Godrej Properties to refund ₹6.21 crore to six homebuyers who cancelled bookings in the Godrej RKS project, built on the iconic Raj Kapoor Studios site in Chembur. The authority upheld the developer’s right to terminate bookings due to buyer defaults and ruled out refund claims under Section 18 of RERA.
MHADA

MHADA Floats Tender for Redevelopment of Jogeshwari’s PMGP Colony; Residents to Receive 450 Sq. Ft. Homes

MHADA has initiated the tender process for the long-pending redevelopment of PMGP Colony in Jogeshwari (East), Mumbai. Nearly 1,000 families living in 180 sq. ft. units will soon be rehabilitated into modern 450 sq. ft. homes. After delays with a private developer, MHADA will now execute the project through an EPC contractor over the next three and a half years.

Bombay HC GST Relief Verdict Could Unlock Rs. 30,000 Cr Redevelopment Potential in Mumbai

The recent Bombay High Court ruling in the Shrinivasa Realcon case has clarified that GST does not apply to redevelopment projects where no transfer of development rights or FSI occurs. CREDAI-MCHI says this verdict could unlock over ₹30,000 crore worth of stalled redevelopment in Mumbai, urging policymakers to act swiftly on GST clarity to rejuvenate the city’s aging housing stock.