Top New Projects in Mumbai

In a landmark ruling, the Bombay High Court has directed the residents of Cozihom Cooperative Housing Society, located in the prestigious Pali Hill area of Mumbai, to vacate the premises within six months. The case dates back to the 1950s when Bollywood legend Meena Kumari and her husband, filmmaker Kamal Amrohi, bought a 2.5-acre plot for Rs 5 lakh and leased it to a developer who built the five buildings that now house the society.

The dispute began in the 1970s when Kamal Amrohi accused the society of failing to pay the full rent for the leased land. The agreed rent was Rs 8,835 per month, but the society contended that part of the land did not belong to the original landowner, leading to a reduction in the rent paid. In 1991, Amrohi filed for eviction due to arrears of rent totalling Rs 66,060. Despite his passing in 1993, his children continued the legal battle.

On April 23, 2025, the Bandra Small Causes Court ruled in favour of Tajdar Amrohi, Kamal Amrohi's son, and Arham Land Developers. The court directed that the society vacate the property within six months. The society, which houses 162 families, mostly senior citizens, intends to challenge the order in the Bombay High Court.

The society claims to have cleared all pending rent dues with interest and deposited the amount in an escrow account for the last two decades. The legal dispute, they argue, pertains solely to the land, not the buildings constructed on it. The court's decision cited the lease agreement, which included a clause stating that failure to pay the agreed rent could result in the termination of the lease, allowing the lessors to reclaim possession of both the land and the buildings.

The land, valued at over Rs 1,000 crore, was later sold to Arham Land Developers by Tajdar Amrohi in 2010 for Rs 5 crore, with the developers acquiring rights to the land and three buildings through a registered deed. The case has brought significant attention to the legacy of Meena Kumari and Kamal Amrohi, as well as the long-standing legal issues tied to the land in one of Mumbai's most sought-after locales.

The Brihanmumbai Municipal Corporation (BMC) has received significant interest from prominent developers for its slum rehabilitation initiative, with around 50 builders expressing interest in the redevelopment of 64 slum projects across the city. The initiative, under Regulation 33(10) of DCPR-2034, aims to redevelop slums situated on municipal lands. Developers, including Adani Realty, Wadhwa Group, Rustomjee, Dosti Realty, JSW Realty, DHS Group, Jalaram Developers, Nilyog Developers, Asha Developers, and Chandak Realty have shown keen interest in the project.

At a recent pre-bid meeting, representatives from these developers discussed the 32 conditions set by the BMC for the slum rehabilitation process, including the provisions and incentives being offered for the redevelopment. While the builders were optimistic about the prospects, they raised several concerns, the most pressing being the uncertainty around the number of slum households eligible for rehabilitation. Developers stressed the need for accurate surveys to determine the exact number of residents. They also called for flexibility in land reservations, as existing land reservations sometimes reduce the usable area available for redevelopment.

In response, BMC officials assured that the concerns raised by developers would be thoroughly reviewed, with the possibility of taking suitable steps to address these challenges. The overwhelming interest from top builders has given BMC confidence that the projects can be completed on time. Additionally, the administration hinted that certain policy relaxations could be considered if necessary to ensure the smooth and timely execution of the redevelopment projects.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has de-registered a significant number of property brokers, totaling 18,693, as part of its ongoing efforts to enforce greater transparency and professionalism within the real estate sector. The de-registration primarily stems from failures to renew licenses and non-completion of mandatory training and certification.

Of the de-registered agents, approximately 2,463 are from Mumbai city, 5,538 from Mumbai suburban areas, 4,303 from Thane, and 3,476 from Pune. The move reflects a robust regulatory push to ensure that property agents meet the required standards of professionalism, particularly in an industry that plays a critical role in real estate transactions across the state.

Since the inception of MahaRERA in May 2017, over 50,000 agents have registered with the authority. As of now, more than 31,000 registrations remain active. The deregistrations come as part of efforts to bring discipline to the intermediary segment, with agents required to undergo training and certification on key aspects of the Real Estate (Regulation and Development) Act, 2016. These include the model sale agreement, carpet area, allotment letters, and defect liability periods, crucial information that agents must communicate to homebuyers.

MahaRERA’s latest regulatory measures have also mandated that all agents hold a valid certificate from the authority to operate, a rule that was implemented in January 2024. This certification is now a prerequisite for both new registrations and renewals, with stringent actions promised for non-compliance. This is a significant step, as MahaRERA is the first state-specific real estate regulator to require such certification for property brokers.

In addition to Maharashtra’s active property market, the state also leads in the number of registered agents, with the Konkan region, including the Mumbai Metropolitan Region, having the highest concentration at 21,050. Agents from over 150 cities outside Maharashtra have also registered with MahaRERA, highlighting the state's critical role in the real estate landscape.

The de-registration of non-compliant brokers signals that MahaRERA is serious about its regulatory framework, ensuring that all real estate agents are not only registered but also adequately trained and certified, fostering trust and transparency in the industry.

The Maharashtra Cabinet has approved the state housing policy for 2025, titled ‘Majhe Ghar – Majhe Adhikar’ (My Home – My Rights), with an ambitious investment of 70,000 crore. The policy aims to build 35 lakh homes in the next five years, addressing the growing demand for affordable housing across the state.

A key component of the policy is the creation of the 20,000 crore 'Maha Aawas Nidhi', which will fund large-scale housing projects under the new framework. The initiative also focuses on slum rehabilitation, redevelopment, and the establishment of a grievance redressal committee to ensure quality standards and prevent delays in redevelopment. A 2,000 crore self-redevelopment fund will encourage cooperative housing societies to independently undertake redevelopment projects.

The policy includes a transformative rent-to-own model targeting working women, students, and industrial workers. These groups will be able to occupy homes on rent for up to 10 years, with an option to purchase the property after the rental period.

Additionally, the policy promotes integrated urban development with a focus on affordable housing, supported by robust infrastructure. It also introduces a State Housing Information Portal (SHIP) for transparent tracking and data-driven decision-making. This strategic approach aims to address the urgent need for affordable housing while supporting social equity and improving the urban landscape.

The Bombay High Court has dismissed an appeal filed by a resident of a cooperative housing society, which sought to stop the redevelopment of the building, affirming that the general body’s decision holds binding authority. The court clarified that any objections raised without challenging the resolutions passed by the society’s general body would only lead to unnecessary delays in the redevelopment process.

The case centred around a resident’s objection to the society’s redevelopment plans, citing concerns over land falling in the Coastal Regulation Zone (CRZ). However, the court emphasised that the general body holds the highest authority over decisions related to the society’s property. The resident, Mridula Chakraborty, sought to restrain the society from proceeding with the tender documents approved in the general body meeting, based on concerns raised about the CRZ zone and the size of the land.

The society presented evidence that the property did not fall under CRZ, as per the BMC’s CRZ remarks. The court also noted that the society had consulted with a project management consultant to address any procedural issues. It further highlighted that the petitioner’s objections were not formal challenges to the general body’s resolutions but were instead delaying the redevelopment process, which was detrimental to society as a whole.

This ruling reinforces the importance of upholding decisions made by a cooperative society’s general body and serves as a reminder of the authority vested in it for smooth and timely redevelopment initiatives.

Mumbai-based Kanakia Group is seeking approval from the Mumbai bench of the National Company Law Tribunal (NCLT) to demerge its real estate division from its other business activities. This restructuring plan involves the separation of Kanakia Spaces Realty Pvt Ltd and Transparent Developers Pvt Ltd, to streamline operations and attract investment.

The move is designed to offer more flexibility in capital raising for both the real estate arm and the group's other ventures. Legal counsel representing the group argued that this demerger would enhance operational efficiency, allowing each business to access funding more effectively and appeal to a wider pool of potential investors.

During the recent NCLT hearing, the division bench instructed the companies to submit additional documents, including details on contingent liabilities, ongoing legal proceedings, and comprehensive data on letters of credit. The group has reportedly received consent from the majority of unsecured creditors for the proposed scheme.

The Kanakia Group believes that by separating its real estate activities from its other businesses, it will be able to better focus on its strategic goals, attract investments, and potentially unlock higher valuations for both sectors.

The Slum Rehabilitation Authority (SRA) has taken a significant step towards reviving stalled slum redevelopment projects in Mumbai by inviting bids for the redevelopment of ten such schemes. These schemes, located across areas like Andheri West, Antop Hill in Wadala, Goregaon, Jogeshwari Vikhroli Link Road, Vikhroli, Chembur, and Deonar, involve rehabilitating a total of 4,740 slum households across 19 acres of land.

Historically, SRA had been issuing letters of intent and NOCs to private builders, but is now directly appointing contractors to complete these projects. The redevelopment process will be auction-based, with the winning bid being determined by the builder offering the highest number of PAP (Potential Additional Tenements) from the sale component.

The slum rehabilitation efforts are part of a larger initiative to address the 228 stalled schemes across the city, which are now being distributed to various government agencies, including MMRDA, BMC, MIDC, and CIDCO, among others. The move is expected to make substantial progress towards enhancing living conditions for thousands of families while also contributing to Mumbai's growing infrastructure development.

AU Small Finance Bank has made a significant acquisition by purchasing an 11-storey commercial tower in Mumbai’s Bandra for 371 crore. The bank, headquartered in Jaipur, acquired the property from Earth Worth Constructions to set up its corporate office in the city. The building, spread over 74,577 sq ft, also includes two basements and 98 car parking slots.

This acquisition marks a financial institution's largest outright office deal this year. The commercial tower was previously leased to UPL Ltd (formerly United Prosperous), which vacated the premises after a 10-year lease term.

AU Small Finance Bank paid 22.26 crore in stamp duty. The acquisition stands out in an environment where most financial institutions typically opt for long-term leases rather than outright purchases.

This move is part of AU Small Finance Bank’s strategy to expand its footprint, as evidenced by its recent 32% growth in net profit for the year ended March 2025. With a network spanning over 2,400 banking touchpoints and a workforce of over 50,000, the bank continues to expand its presence across India.

Ramky Estates & Farm, a Hyderabad-based realty developer, has officially entered the Mumbai property market with a significant slum rehabilitation redevelopment project in the Chembur suburb. Spanning 1.5 acres, the project holds a total development potential of approximately 463,000 sq ft, including 237,000 sq ft of free-sale area, which is expected to yield a revenue potential of over 550 crore.

The project involves the rehabilitation of over 400 slum dwellings, with an overall estimated cost exceeding 300 crore. It is anticipated to be completed in 3 to 3.5 years, including the rehabilitation work, marking Ramky's first venture into the Mumbai Metropolitan Region (MMR).

This project signifies Ramky Estates' commitment to participating in socially impactful and capital-efficient ventures. The developer plans to offer premium housing in the free-sale component of the redevelopment, further contributing to the city's housing needs. The Letter of Intent (LOI) for the project was initially issued in 2004 and later revised in 2011-12, with the LOI transfer to a special purpose vehicle (SPV) expected in the coming months.

Ramky Estates is also working on other strategic acquisitions and redevelopment projects as part of its expansion strategy in Mumbai. The company's entry into the region reflects the growing demand for redevelopment projects in Mumbai, driven by the limited availability of vacant land.

Macrotech Developers, a leading real estate company based in Mumbai, is setting its sights on expanding into the Delhi-NCR residential market. The company, which operates under the well-known 'Lodha' brand, is actively looking to acquire land for group housing projects in this high-growth region.

Currently, Macrotech Developers has a strong presence in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. However, the company sees significant potential in the Delhi-NCR market and is in the process of identifying land parcels for its pilot projects. The company plans to approach the market cautiously, leveraging its experience to establish a strong foothold before scaling operations.

Macrotech has already made progress by acquiring a land parcel in Gurugram last fiscal for the development of an industrial and logistics park, and discussions are ongoing for potential residential land acquisitions in the region. The company is optimistic about the future growth of its Pune and Bengaluru markets, while also planning to expand its footprint in Delhi-NCR.

As part of its strategic growth, Macrotech Developers has been acquiring multiple land parcels. In the 2024-25 fiscal year alone, the company acquired 10 new parcels for residential projects, with an estimated revenue potential of 23,700 crore. This is in line with their ambitious plan to invest over 8,000 crore this fiscal to add new projects worth 25,000 crore to their portfolio.

With its strong performance in sales bookings, a record 17,630 crore in the last fiscal, and an optimistic outlook for the Indian real estate sector, Macrotech Developers remains focused on expanding its business and launching significant residential projects in key markets.

L&T Realty, the real estate arm of Larsen & Toubro, has made its first outright land acquisition, securing a 34-acre parcel in Panvel, near Mumbai, for over 102 crore. This marks a significant shift in the company’s growth strategy, which has traditionally focused on joint development agreements (JDAs) and joint venture (JV) partnerships.

The land, located near the riverfront in Panvel, is currently zoned for industrial use. However, it remains uncertain whether L&T Realty intends to change the land’s use for residential development or to establish a precast manufacturing facility to support its construction operations.

This acquisition reflects L&T Realty's evolving approach to expansion, moving beyond collaborations and into direct land purchases. Although this deal may not be as large as the company's ongoing projects, it signals a strategic direction for future growth.

Panvel, part of the Mumbai Metropolitan Region, has become a growing real estate hub due to its proximity to major infrastructure projects like the Navi Mumbai International Airport, the Mumbai Trans Harbour Link, and CIDCO's NAINA development, enhancing the area’s connectivity and appeal for developers.

Maharashtra Chief Minister Devendra Fadnavis announced that the BKC to Acharya Atre Chowk section of Mumbai Metro Line 3 will begin operations from May 10, 2025. This marks a significant milestone in the city's Metro expansion. On Friday, Fadnavis, along with Deputy Chief Minister Eknath Shinde, rode a Metro train through the underground corridor from BKC to Siddhivinayak Temple, ahead of the official launch.

Metro Line 3: Phase 2A Operational from May 10
The Phase 2A stretch of Metro Line 3, also known as the Aqua Line, spans 9.77 km and includes six stations: Dharavi, Shitaladevi, Dadar West, Siddhivinayak, Worli, and Acharya Atre Chowk. The BKC to Acharya Atre Chowk section is the second phase of Metro Line 3 and will be open to the public from Saturday, May 10, 2025.

Final Phase to Open in August
The final phase of the Metro Line, connecting Acharya Atre Chowk to Cuffe Parade, is expected to open in August 2025, with Prime Minister Narendra Modi to be invited for the inaugural event. Once completed, the full Metro stretch, spanning 33 km, will provide seamless connectivity between key business districts like BKC, Worli, Lower Parel, and Prabhadevi.

Engineering Marvel
This underground Metro corridor is India's longest underground Metro route, passing beneath the Mithi River and densely populated areas like Girgaon. The project is an engineering marvel, offering state-of-the-art infrastructure with multiple entry and exit points to reduce congestion.

Improved Connectivity and Fare Details
With the completion of Phase 2A, Metro Line 3 will provide improved access to important destinations like Siddhivinayak Temple, Shitaladevi Temple, and Mahim Dargah. Travel between BKC and Acharya Atre Chowk will take 15-20 minutes, with a fare range of 10 to 40. The travel time between JVRL Aarey and Acharya Atre Chowk will be 36 minutes, with a fare of 60.

Long-Term Benefits
Metro 3 is expected to remove around five lakh vehicles from the roads, leading to fuel savings and reduced travel time. Once fully operational, passengers will be able to travel the entire 33 km stretch within an hour. Mumbai Metro Rail Corporation (MMRC) plans to run 244 services on the corridor with eight Metro trains, ensuring efficient service.

Additionally, a common mobility card for all modes of transport, including Metro, monorail, and buses, is being trialed, with the goal of a commercial rollout soon. The collaboration with Google will also enable passengers to track the location of BEST buses in real-time, enhancing the convenience of city travel.

MHADA has launched an initiative to expedite the redevelopment of cessed buildings in Mumbai’s island city. The Maharashtra Housing and Area Development Authority (MHADA) will be reaching out to the landlords and tenant associations of 13,091 cessed buildings, urging them to submit proposals for redevelopment. The letters will also be prominently displayed on the buildings themselves, informing residents and owners of the updated rules.

Under the recently amended Section 79A of the Maharashtra Housing and Area Development (MHADA) Act, landowners now have the first opportunity to submit a redevelopment proposal to MHADA, provided they obtain irrevocable consent from 51% of the tenants or residents. The proposal must be submitted within six months. If the landowner does not act within the given timeframe, the tenants, through their cooperative housing society, are granted the opportunity to submit a proposal themselves, also requiring the consent of 51% of the residents. If no proposals are submitted by either party, MHADA can acquire the property and land for redevelopment.

This initiative is backed by a push to make use of the additional floor space index (FSI) available under Regulations 33(7) and 33(9) of the Development Control and Promotion Regulations (DCPR)-2034, which would help facilitate redevelopment projects.

MHADA has already completed structural audits for 555 cessed buildings and plans to finish inspecting the remaining buildings within the next year, further strengthening the redevelopment drive in the city.

In a significant move, Amazon India has leased over 1.14 lakh sq. ft. of office space in Mumbai’s Vikhroli area, expanding its presence in the city’s eastern business corridor. The long-term lease agreements, spanning five years, were finalized across four separate contracts, with a combined starting monthly rent of more than Rs. 1.73 crore.

The largest of the leases, signed by Amazon Seller Services, covers 42,700 sq. ft. of space at a starting monthly rent of Rs. 78.56 lakh. The agreement also includes 37 car parking slots, with 27 provided free of charge and the remaining 10 charged at Rs. 8,508.55 each per month.

Other Amazon group entities, including Amazon Development Centre India, Amazon Data Services India, and Amazon Smart Commerce Solutions, have secured additional office spaces of 19,926 sq. ft., 16,447 sq. ft., and 15,181 sq. ft., respectively. These leases come with a uniform rent of Rs. 184 per sq. ft. across all contracts.

The agreements, which begin on January 1, 2025, also feature a 5% annual rent escalation. Notably, the leases include a total of 133 car parking spaces, with 100 offered free of charge.

This expansion signals Amazon's continued investment in Mumbai’s growing commercial real estate market, especially in emerging business districts outside the traditional business hubs of Bandra-Kurla Complex and Worli.