Cabinet approved cluster redevelopment of 19 MHADA buildings in Ramakrishna Nagar, Khar (West), comprising 18 residential and one office building constructed around 1985. Land covers approximately 25,523.90 square meters. Plots 5, 7, and 8 (three buildings) are on ownership basis with Ramakrishna Nagar Cooperative Housing Society. Developer will be appointed for remaining plots excluding Plot 18 and office building. High-powered committee chaired by Housing Department Secretary will oversee implementation. MHADA constructed 56 housing colonies in Mumbai between 1950-1960 comprising 114 housing societies to provide affordable housing to middle- and low-income groups.

Ramkrishna Nagar, one of Mumbai's oldest MHADA colonies located in Khar West, has been approved by the state for cluster redevelopment following the appointment of a developer.

Q1 FY27 (April-June 2026) luxury housing transactions (Rs 5 crore and above) in Mumbai: 1,499 registered deals worth Rs 14,903 crore, averaging Rs 164 crore daily transaction value and Rs 10.3 crore average ticket size.

Monthly breakdown:

• April: 563 registrations, Rs 5,726 crore
• May: 435 registrations, Rs 4,492 crore (22.7% volume decline)
• June: 501 registrations, Rs 4,686 crore (15% month-on-month increase; average ticket size fell to Rs 9.4 crore)

June saw stronger activity in entry-level luxury segment (Rs 5 crore-Rs 10 crore range).

Top localities by transaction value:

• Worli: 97 deals, Rs 2,272 crore, Rs 23.4 crore average
• Lower Parel: 81 deals, Rs 769 crore, Rs 9.5 crore average
• Bandra West: 54 deals, Rs 575 crore, Rs 10.6 crore average
• Goregaon East: 46 deals, Rs 552 crore
• Andheri West: 60 deals, Rs 425 crore
• Vile Parle West: 45 deals, Rs 413 crore
• Santacruz West: 44 deals, Rs 364 crore

Highest-value luxury apartment lease: Rs 29.42 lakh monthly at Shandilya Villa, Worli. Cricket player Shreyas Iyer leased K Raheja Artesia, Worli for Rs 19.83 lakh monthly. Actor Siddharth Malhotra leased Nair House, Khar West for Rs 11 lakh monthly.

Data from Maharashtra stamp duty and property registration records, reported by Lighthouse Luxury in partnership with Zapkey.

Proposals to redevelop the MHADA layouts at Ram Krishna Nagar, Khar and Old MHB Colony in Borivali have been sent to the Maharashtra government. The process to select a redeveloper will begin after the government’s response.

The Bombay High Court appointed a three-member committee to resolve a dispute over land at Danda Koliwada, Khar West, where a slum rehabilitation scheme is being implemented. Part of the land is used by the Koli community to dry fish and nets.

Justices Girish Kulkarni and Aarti Sathe directed the additional principal secretary of the urban development department, the suburban collector and the Slum Rehabilitation Authority CEO to hear both parties and consider fresh demarcation, taking the petitioners’ traditional rights into account. The court said the state, as owner of the land, has an obligation to resolve the issue. Two Koli societies approached the High Court objecting to alleged encroachment by the developer.