On October 25, the first day of bidding, Afcons Infrastructure’s Rs 5,430 crore IPO got off to a poor start, with barely 8% of the offer subscribed for by the afternoon. According to consolidated bid statistics, 71.47 lakh shares were bid on during the public offering, while 8.66 crore shares
In a setback for the Maharashtra government, the Bombay High Court imposed a status quo on Thursday, ordering authorities not to modify the character of a 15-hectare land in Kanjurmarg handed by the Mumbai collector to MMRDA for the construction of a car shed for Metro Line 6. The Mumbai
Residents of the Kanakia Paris Cooperative Housing Society, a Bandra East high-rise, have expressed opposition to the development of an HBT Aapla Dawakhana clinic outside the society’s front gate. As workmen hired by the Brihanmumbai Municipal Corporation (BMC) contractor arrived on Wednesday to build the clinic, citizens staged a peaceful
In an interim decision issued on Thursday, the Bombay High Court delayed the execution of 2023 rules that would allow special clearance to be granted for rehabilitation project structures of up to 58 metres in height on the Marine Drive precinct in south Mumbai. It questioned whether authorities intended to
Given the city’s high real estate costs and previous record numbers, the newest plot auction in Navi Mumbai has received a lacklustre reaction. Last week, just 15 out of 47 plots offered by the City and Industrial Development Corporation (CIDCO) got qualified bids. This underwhelming response is surprising given the
The Mumbai Metropolitan Region Development Authority (MMRDA) has officially announced the name of Third Mumbai: Karnala-Sai-Chirner New Town (KSC New Town). The new community, also known as the Navi Mumbai Airport Influence Notified Area (NAINA), was first planned in 2013 to manage the chaotic growth surrounding the upcoming Navi Mumbai
Amit Jain, chairman and managing director of Arkade Developers, estimates that its ten ongoing projects in the Mumbai Metropolitan Region (MMR) have a revenue potential of Rs 4,000 crore. On Monday, the business announced the inauguration of a luxury residential and commercial property in Bhandup, Mumbai Metropolitan Region. The three-acre
On Wednesday, Ulhasnagar civic head Vikas Dhakne ordered the destruction of a 16-story under-construction structure that encroached on a Development Plan (DP) route. The Jhalak building’s floor plan includes 65 units and four shops. Assistant Municipal Commissioner Ganesh Shimpi of Ward 4, where Jhalak is located, stated that the building
The Mumbai police arrested three members of a family on Wednesday for allegedly duping an elderly man out of Rs 16 crore by offering to sell an entire floor of a building to be built in a Bandra redevelopment project. According to the police, the accused—Mehmood Hassan Quadri, his son
Mumbai city had 5,199 property registrations during the nine days of Navratri, from October 3 to 11, 2024, representing a 13.2% year-on-year (YoY) increase over the 4,594 units registered in Navratri 2023. The state exchequer earned a total of Rs 502 crores from these registrations. Also, the daily average property
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