L&T Realty Developers Limited acquired land rights in Lower Parel–Elphinstone Road through deed of assignment executed January 9, 2026. Assignor: AVA Smart City LLP. Total consideration: Rs 448.6 crore, comprising Rs 300 crore cash and Rs 148.6 crore as area share of 55,000 sq ft RERA carpet non-residential (commercial) space with proportionate car parking rights. Stamp duty paid: Rs 2.69 crore. Land parcel location: Khatri Estate, Elphinstone Road. Land area: 6,474 sq yards (5,413.08 sq metres or approximately 1.34 acres). Lower Parel and Elphinstone Road are major real estate hubs attracting large-scale residential and commercial developments due to central location and connectivity.

Demolition and reconstruction of Mumbai's Elphinstone Road Bridge faces fresh delays due to wayleave fee disputes between railway authorities and Maharashtra Rail Infrastructure Development Corporation (Maharail). Western Railway claimed Rs 59 crore as wayleave levy before demolition. Central Railway raised its fee demand from Rs 10 crore to Rs 47 crore before granting demolition blocks. Total railway charges: Rs 106 crore.

The Elphinstone Road Over Bridge (ROB), a British-era structure more than a century old, is a crucial east-west link in central Mumbai. Demolition began Friday evening to facilitate reconstruction. A traffic advisory was issued.

The Mumbai Metropolitan Region Development Authority (MMRDA) will be appointed as Special Planning Authority (SPA) for redevelopment of 19 buildings along Elphinstone bridge in central Mumbai, which will be demolished for the Sewri-Worli Elevated Connector connecting Rajiv Gandhi Sea Link with Atal Setu.

Once MMRDA is appointed SPA, it will float a tender for redevelopment of the 19 buildings on the northern side of Elphinstone bridge. The appointed developer must rehabilitate all 368 project-affected families (PAPs) residing in these buildings and construct additional units under freesale component.

12 buildings fall within BMC's F South ward, seven in G South ward. Most buildings are 80-100 years old, owned through pagdi system where tenants pay initial premium and low monthly rent for co-ownership rights.

Project deadline likely pushed back 8-10 months to December 2026.

Seven buildings on southern side already finalised Vardhman V21 Developer for cluster redevelopment.

In second half of 2024, alignment was further realigned with affected buildings reduced from 19 to 2 and PAPs from 368 to 83. Rehabilitation cost fell from ₹5,200 crore to ₹110 crore. Earlier MMRDA offered PAPs ₹30 lakh to ₹1.10 crore depending on unit size, residents claimed this was far below market value. On April 25, residents stalled scheduled bridge demolition over rehabilitation concerns.

Seventy-eight families from Elphinstone Road displaced for the Sewri-Worli Elevated Corridor project-affected persons (PAPs) rehabilitation received new apartments in poor condition. Issues reported: termite infestation, crumbling walls, seepage in walls and bathrooms. Residents spent significant sums on repairs before demanding reimbursement. MMRDA bought homes from MHADA; MHADA will undertake repairs after floating tenders on Tuesday. Homes handed over to MMRDA end-2025; allotments began January 2026 after five families opted for cash compensation instead. Seventy-eight families housed in 16 MHADA buildings across Lower Parel, Byculla, Parel, Matunga, Dadar, Mahim and Wadala within 4-km radius of original homes. Estimated repair cost: ₹56.65 lakh over 18 months. Special repairs include waterproof plaster paint, polymer, tiling, waterproofing treatment for room slabs, replacing doors and windows. Examples: Pooja Herlekar's Priyadarshini building apartment in Dadar had termites and leaks; Mayur Loke in Eon Tower Dadar couldn't nail walls due to crumbling plaster, had seepage and poor kitchen sink; Munaf Thakur in Priyadarshini building Dadar had bathroom floor seepage requiring complete flooring redo.