Why NRIs are investing in ultra/supreme luxury residences in Mumbai?
In the world of high-end Indian real estate, a fascinating trend has surfaced: NRIs (Non-Resident Indians) are progressively directing their investments toward lavish homes, especially in the bustling city of Mumbai. This surge in the interest of the NRI community toward ultra and supreme luxury homes arises from a combination of factors that make India’s luxury real estate market an incredibly attractive opportunity. The ever-changing market dynamics, fierce competition in pricing, and government policies aimed at increased transparency have all played a role in making upscale properties highly desirable. With India’s rapid modernization and urbanization, there has been a significant increase in the demand for luxurious residential properties. This has caught the interest of savvy investors, particularly NRIs who invested US $13.1 billion in buying homes in India. 

Mumbai Real Estate: Raymond Realty has projects worth ₹30,000-crore revenue potential
Mumbai: Gautam Singhania-owned Raymond Realty is currently working on residential projects with gross revenue potential of ₹30,000 crore, bulk of which is coming up on 40 per cent of the 120 acres that it owns in Thane, which is part of the Mumbai Metropolitan Region. After the restructuring that Raymond Ltd went through, it is primarily a real estate company now with Thane, where it owns plenty of land as its focus area. However, it is spreading into the heart of Mumbai city as well.

From renting to buying homes: What’s driving the shift in Mumbai?
In recent years, Mumbai’s real estate market has witnessed a notable shift from renting to buying homes. This transformation reflects changing demographics, evolving economic dynamics, and shifting consumer preferences, all of which are reshaping the city’s housing landscape. Post 2020, the way people perceived homeownership has evolved massively, thus redefining the approach of the masses towards owning a house rather than renting one.  

Godrej sells 800 flats worth Rs 2,690 cr in Mumbai project
Godrej Properties (GPL) on Friday said it has sold over 800 apartments worth Rs 2,690 crore in its project named Godrej Reserve located in the Kandivali suburb of Mumbai. 

Registration of properties in Mumbai city rises 8 per cent to 14,150 units this month
Registration of properties in Mumbai city has gone up 8 per cent so far this month to around 14,150 units compared to March last year, reflecting strong demand, according to a report.

‘Mumbai real estate market thrives amid end-user demand’
The Mumbai Metropolitan Region (MMR), India's most valued real estate market, is currently experiencing a surge in end-user demand, promising sustained sales momentum. This optimism, however, is tempered by concerns over rising property prices and project execution risks, according to discussions at the Mint India Investment Summit 2024.

Squarefeet Group to invest Rs 300 cr on new housing project in Mumbai
The company plans to develop about 1,000 flats in this 3-acre project named 'Yuva Rajya' and is targeting a revenue of Rs 750 crore over the next 4-5 years.

Mazagon Dock Shipbuilders to lease 14.55 acres of land parcel from Mumbai Port Authority
State-run Mazagon Dock Shipbuilders Ltd (MDL) announced that the company board has accepted the offer of Mumbai Port Authority (MbPA) for the allotment of land parcel measuring 14.55 acres, adjacent to MDL Mumbai Yard on a long term lease basis. 

Man Infra bags project in South Mumbai with expected total sales value above Rs 2100 crore
Man Infraconstruction on Friday announced that it has bagged an ultra-luxurious project at Marine Lines in South Mumbai, with the expected total sales value of above Rs 2100 crore. “It is set to become yet another tallest residential structure in India to be done by MICL group surpassing the height of above 800 feet. With a proven track record of delivering all its 16 projects before time, MICL group intends to deliver this project in a span of 5 years from launch date,” the company said in a regulatory filing. 

Mumbai ranks 3rd after Manila, Dubai in Knight Frank Prime Global Cities Index, sees 10% YoY growth in luxury home rates
Mumbai has secured the third position in the prestigious Prime Global Cities Index for Q4 2023, a testament to the city's burgeoning luxury housing market. Mumbai witnessed an impressive 10 per cent year-on-year (YoY) growth in prime residential prices, driven primarily by affluent homebuyers seeking lifestyle upgrades against the backdrop of a robust economic environment, according to Knight Frank's latest report, released on March 20.

IndoSpace launches its first in-city warehousing facility in Mumbai
Mumbai: IndoSpace, one of India’s largest industrial and logistics real estate developer, has launched its first in-city warehousing facility in Mumbai in the central suburb of Chembur. The facility, called INLOGIS Chembur, spans over 1.5 lakh square feet and offers scalability options ranging from 5000 to 35,000 square feet, the company said in a statement.

Stans Buildtech Homes secures ₹160 crore from SWAMIH Fund for Mumbai SRA project
Bengaluru: Stans Buildtech Homes Pvt Ltd has secured ₹160 crore from SWAMIH Fund, managed by SBICAP Ventures Ltd, for its SRA project. Sky Annex, located in Chembur, Mumbai, was taken over by Stans Buildtech in 2016 and has been under development since. Many issues involving tenants, flat buyers, approvals, and lack of suitable financing to meet requirements led to the project being stalled, and is now set to resume, following the deal.

Mumbai’s record realty show continues with best Feb sales
Mumbai: Mumbai, the country’s biggest and most expensive property market, has continued its record-setting spree by registering its best February ever as demand continued to be robust and its conversion in actual sales remained unaffected despite higher mortgage rates and property prices.
 

Raymond Realty expands beyond Thane, launches its first Mumbai project
Raymond Realty announces launch of its first project in Mumbai with revenue generation projections at over Rs 2000 crore

Mumbai region witnesses 40% rise in housing sales; Over 4 lakh homes completed in top-7 cities in 2023: Report
Mumbai Metropolitan Region (MMR) has witnessed a sharp surge in housing sales, as well as, completion of residential projects in 2023 despite the high home loan interest rates and a spike in property prices in the country.

Adani Realty wins bid for ₹30,000 crore Bandra Reclamation redevelopment contract in Mumbai
Adani Realty has secured the contract to redevelop the 24-acre Bandra Reclamation land parcel, put up by the Maharashtra State Road Transport Corporation (MSRDC), as per a report by the Free Press Journal. The final approval is pending and will be decided by the MSRDC Board in their upcoming meeting.

Oberoi Realty enters into agreement with Marriott International to develop two Marriott properties in Mumbai
Oberoi Realty on Friday announced that it has entered into an agreement with Marriott International for the development of two Marriott properties: JW Marriott Hotel Thane Garden City and Mumbai Marriott Hotel Sky City in Borivali, both set for completion in 2027-2028. These developments are positioned to redefine the landscape of urban living and hospitality in Mumbai, promising unparalleled experiences for both residents and visitors alike, it said. 

Mumbai, Bengaluru in top 10 cities with highest home price rise in APAC
According to the "Asia-Pacific Residential Review Index for H2 2023" released by real estate consultancy Knight Frank, Bengaluru saw the eighth highest year-on-year (Y-o-Y) jump in home prices during the period at 7.1 per cent. It was followed by 7 per cent in Mumbai, which ranked 9th on the list.
 

Kolte-Patil Developers aims for ₹2,800 crore sales, eyes Mumbai expansion, says CEO
Pune-based Kolte-Patil Developers ended the first nine months of FY24 with sales of over ₹2,000 crore and is confident of meeting its stated target of ₹2,800 crore for the entire year and growing at 25 per cent in the next two years.

Shapoorji Pallonji Real Estate expects over Rs 1,000 crore revenue from its luxury project in Mumbai
Shapoorji Pallonji Real Estate (SPRE) on Wednesday launched a new ultra luxury project in Mumbai with an estimated revenue potential of more than Rs 1,000 crore.The company would develop nearly 60 residential units in ‘The Odyssey’ project, located off Marine Drive, with a starting price of Rs 15 crore per flat.