Articles by Satish Nandgaonkar
MTHL: Mumbai’s bridge across forever
With the MTHL cutting down travel time between Ulwe in Navi Mumbai to South Mumbai from the 2 hours it takes at present to half hour also throws open the real estate market east of Mumbai, just across 16.5 km stretch of the sea
Updated on Jan 12, 2024 08:00 AM IST
From blueprint to reality: 21.8km Atal Setu connects dreams of Third Mumbai
MTHL cuts down travel time between Ulwe in Navi Mumbai to South Mumbai from the 2 hours it takes at present to half hour.
Updated on Jan 12, 2024 11:28 AM IST
Nuvama, Cushman & Wakefield form JV for real estate fund
The joint venture will establish a strategic platform that aims to empower investors with superior fund management expertise through Nuvama, while leveraging Cushman & Wakefield’s global expertise in the commercial real estate industry
Updated on Jan 11, 2024 07:54 AM IST
Omkar Alta Monte project, Malad: HC asks MahaRERA to give ruling in delayed possession case within six weeks
The Bombay high court has directed MahaRERA to decide on a homebuyer's application for non-execution within six weeks, after the housing regulator failed to take action on non-compliance by the developer. The homebuyer has been waiting for possession since July 2018 and is seeking interest for the delay.
Updated on Jan 08, 2024 07:24 AM IST
Hafeez Contractor on all that he surveys
Located next to Jimmy Boy restaurant, the building looks like yet another functional Fort office building on Bank Street, Horniman Circle.
Updated on Jan 07, 2024 02:45 PM IST
DHC Advisory’s co-founder buys sea facing home in Breach Candy for ₹85 crore
Dilip Desai, co-founder of DHC Advisory LLP, and his wife have purchased a sea-facing duplex apartment in Mumbai for ₹85 crore.
Updated on Jan 06, 2024 07:28 AM IST
MahaRERA grants Palais Royale developer one more year for completion
While granting the extension even after these observations, Mehta remarked that the Act was intended to promote the real estate sector in an efficient and transparent manner and protect the interest of consumers. “Thus, by not extending the registration of the sale project, the same shall be stalled
Updated on Jan 04, 2024 08:22 AM IST
How new insights into Indus Valley were unlocked
The elite groups in the region did not want to use any language-specific phonological script on their seals.
Updated on Jan 04, 2024 12:53 AM IST
Satish Nandgaonkar, Mumbai
UD allows conditional NDZ development, Aarey to remain green zone
The urban development department (UD) on December 28 approved the ‘Excluded Part’ (EP) of the Development Control and Promotion Regulations 2034. The EP refers to parts of the Development Plan that were not sanctioned and were open for public inspection
Updated on Jan 02, 2024 07:56 AM IST
Malabar Hill micro-market picks up with 14 projects
The report threw light on 14 different projects at different stages of construction by 12 developers that lie in this catchment. In the last 12 months, the micro-market has seen sales of 52 units, marking a 10% year-on-year increase
Updated on Jan 02, 2024 07:40 AM IST
John Abraham buys bungalow on Linking Road for ₹71 cr
Actor-producer John Abraham has purchased a 13,138 sq ft bungalow in Mumbai's Khar area for ₹70.83 crore. The property has potential for redevelopment.
Updated on Jan 01, 2024 11:56 AM IST
MICL to take up redevelopment of actor Aamir Khan’s society in Pali Hill
Man Infraconstruction Limited (MICL) is set to undertake the redevelopment of a housing society in Mumbai's Pali Hill area, where actor Aamir Khan resides. The luxury project is expected to generate revenue of around INR500 crore ($74 million) and will offer 50,000 sq ft of carpet area for sale. Pali Hill is a premium address in Bandra West, with property rates ranging from INR1 lakh to 1.25 lakh per sq ft.
Updated on Dec 30, 2023 07:18 AM IST
Amitabh Bachchan rents out commercial space for annual rental of ₹2.07 cr
Actor Amitabh Bachchan has leased four office units in Mumbai's Lotus Signature building to Warner Music Pvt Ltd for a monthly rent of ₹17.30 lakh, which will increase to ₹19.90 lakh after 36 months. The lease agreement will earn Bachchan an annual rent of ₹2.07 crore for the first three years, increasing to ₹2.38 crore for the fourth and fifth year. The lease commences from March 2024 and includes 12 dedicated parking spaces. Other Bollywood actors, including Kartik Aryan, Manoj Bajpayee, Sarah Ali Khan, Ajay Devgn, and Kajol, have also purchased office spaces in the same building.
Updated on Dec 30, 2023 07:22 AM IST
MMRDA to redevelope Ramabai Ambedkar Nagar
The plan was discussed at the body’s meeting with chief minister Eknath Shinde, who is also the chairperson of MMRDA, on December 12 in Nagpur. It will now be tabled at the state cabinet for its approval. The plan to redevelop the slum was last discussed over a decade ago
Updated on Dec 30, 2023 05:10 AM IST
Mumbai’s first mall to be auctioned in January for ₹500 crore
Mumbai's SoBo Central mall, formerly known as Crossroads Mall, will be auctioned on January 29, 2024, by Canara Bank to recover dues of ₹230.39 crore. The pandemic and competition from newer shopping options have led to the mall being a non-performing asset. The reserve price for the auction is set at ₹500 crore. The property includes shops and commercial premises spanning over 1,07,691.99 sq ft, excluding the McDonald's outlet. Interested bidders can inspect the properties on January 20 and must deposit ₹50 crore as earnest money.
Updated on Dec 29, 2023 07:48 AM IST
Godrej & Boyce builds 500 sq ft office in 40 hours using 3D printing technology
Godrej Construction, a subsidiary of Godrej & Boyce, has used 3D Construction Printing technology to build a fully functional office in just 40 hours. The 500 sq ft office, named 'The Cocoon', was constructed using prefabricated modules and sustainable materials, including up to 20% recycled concrete aggregates. The project also incorporated lean construction methods and Building Information Modelling. The company aims to deliver innovative and sustainable solutions for the built environment.
Updated on Dec 28, 2023 04:46 PM IST
Kansai Nerolac sells 4.13 acre Lower Parel plot for ₹726 cr
The sale was in line with the company’s decision to monetise idle land parcels and put them to productive use and the board of directors had approved the proposal
Updated on Dec 27, 2023 06:52 PM IST
Mumbai touches all-time high in office leasing: report
Office space leasing in Mumbai metropolitan region (MMR) reached a record high of 10.1 million sqft in 2023, up 51% from the previous year, according to Savills India. Office leasing in the top six cities in India, including Mumbai, also hit a new high of 62.3 million sqft in 2023, up 12% from 2022. Bengaluru continued to dominate leasing activity with 15.6 million sqft, but gross absorption fell 10% due to a decline in leasing activity by tech occupiers. The banking financial services and insurance (BFSI) sector and engineering and manufacturing sector were the main drivers of demand in the MMR.
Updated on Dec 27, 2023 07:50 AM IST
Civic body cracks down on illegal constructions, demolishes nine structures
Thane Municipal Corporation's anti-encroachment department demolished nine illegal constructions, including a three-storey structure, in various wards. The demolition was carried out in response to the municipal chief's warning against illegal constructions.
Updated on Dec 27, 2023 06:46 AM IST
Thane civic official sent on compulsory leave for protecting encroachments
A senior employee of the Thane Municipal Corporation has been sent on compulsory leave for failing to act on unauthorized construction in the Kalwa area. The action came after several complaints by citizens and MLAs. The Thane Municipal Commissioner has also requisitioned additional manpower for demolition action against unauthorized constructions.
Updated on Dec 26, 2023 07:30 AM IST
50% premiums cut for cluster development till June 2024: BMC
CREDAI-MCHI had made a representation to the BMC on October 11 seeking clarification whether instalment facility for schemes which availed 50% reduction in premiums or before June 14, 2023 will continue.
Published on Dec 25, 2023 04:35 PM IST
ICICI Securities leases five floors on long lease at Mindspace Juinagar
Financial services giant ICICI Securities Ltd has entered into a 12-year lease agreement for five floors and the terrace, covering 1.88 lakh sq ft, at Mindspace Juinagar B3 building. The annual rent for this extensive office space, leased from Newfound Properties and Leasing Pvt Ltd, is ₹11.05 crore
Updated on Dec 24, 2023 06:44 AM IST
MREAT orders coercive action against developer for failure to comply with refund order
Maharashtra Real Estate Appellate Tribunal has directed the suburban collector to attach and auction properties and bank accounts of Krishna Developers Pvt Ltd for failing to comply with an order to refund a homebuyer.
Updated on Dec 23, 2023 07:58 AM IST
US footwear major Skechers opens 6 lakh sq ft warehouse in Palava
American footwear giant Sketchers has opened a national distribution centre in Mumbai, India, as part of its expansion in the Indian market. The 6,00,000 sq ft facility at the Lodha Industrial and Logistics Park in Kalyan has been designed to streamline supply chain operations and can ship up to 60,000 units per day. The centre features innovative flooring for easy transportation and is the first phase of a partnership to develop a 1.1 million sq ft facility in Palava township. Sketchers entered India in 2012 and acquired full control of its joint venture in 2018.
Updated on Dec 22, 2023 07:40 AM IST
From Tilak’s patriotism to Dawood’s crimes, these cop stations have seen it all
The Mumbai police force celebrated a milestone in its history last week, marking the transformation of the force from an unorganised local militia to a battle-ready force. The police force dates back to 1669 when the East India Company moved its headquarters to Mumbai. The first police stations were established in 1909 after a riot led to the restructuring of the force. The Dongri police station, which has a long history of bringing criminals to book, also has a dargah on its premises where officers offer prayers when they are unable to arrest an accused.
Updated on Dec 21, 2023 06:52 AM IST
Complaint alleges developer suppressed info to obtain RERA registration
A complaint has been filed with MahaRERA alleging that developer brothers Jayesh and Ketan Shah obtained RERA registration for three projects by suppressing information. The complaint demands that the authority revoke the registrations in the interest of home buyers. The complaint also alleges that the projects show more sanctioned floors than permitted and that the promoters have not disclosed other projects and pending litigation. The developers deny the allegations. MahaRERA will examine the complaint and take suitable action.
Updated on Dec 20, 2023 10:53 PM IST
Dharavi residents trade charges on the eve of rally
Two groups of Dharavi residents in Mumbai held media briefings on the eve of a rally to the Adani group office, with one group accusing the Shiv Sena-led Dharavi Bachao Andolan of opposing Dharavi's development, and the other demanding better rehabilitation for all residents.
Updated on Dec 16, 2023 07:56 AM IST
Air India Express to start Surat- Dubai flights in boost to local diamond trade
The Air India Express moves comes in the wake of persistent demand by the Surat diamond traders to link Surat with Dubai to boost trade in diamond
Published on Dec 15, 2023 05:30 PM IST
Thane civic body finalises affordable housing project for 1441 beneficiaries
The civic body, which acquired the two government plots from the Thane Collector will construct the project under Public Private Participation model
Published on Dec 15, 2023 10:22 AM IST
Suraj Estate Developers IPO to open on December 18
Suraj Estate Developers to launch ₹400 crore IPO at a price band between ₹340 to ₹360 per equity share. The issue will close on December 20.
Published on Dec 13, 2023 05:22 PM IST