BMC's Assessment & Collection Department and G South ward jointly seized seven properties at Kamala Mills compound in Lower Parel on 26 March 2026 for non-payment of property tax. Properties seized included offices, a Tata Power substation, internet centre, and open parking area. Owners Ramesh Ghamandiram Gowani and M/s Gaurav Investment owe Rs 14.22 crore in property tax plus Rs 67.25 lakh in additional dues. Water supply to these properties has been disconnected. Additional Municipal Commissioner Ashwini Joshi stated defaulters failing to pay by 31 March 2026 will face punitive action. BMC property tax collection stands at Rs 6,500 crore against target of Rs 7,398 crore for 2025–26 financial year.

Nitin Mukeshchand Mathur and his son Neil Nitin Mukesh purchased an apartment in Lower Parel, Mumbai for Rs 11.35 crore. Located in World One by Lodha Group, the apartment has a RERA carpet area of 189.89 sq. m. (2,044 sq. ft.) and includes two car parking spaces. Transaction registered July 2025. Stamp duty: Rs 68.10 lakh. Registration charges: Rs 30,000.

The BMC G-South ward team began a survey of Lower Parel land following the Supreme Court's ruling in favour of the BMC and against Century Textiles and Industries Ltd's petition to claim ownership of the property. The survey commenced five months after the court decision.

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.

• The BMC civic improvements committee approved leasing 15 acres at the defunct Mulund dumping ground to Navbharat Mega Developers Pvt Ltd (NMDPL) for five years. Adani Group holds an 80% stake in NMDPL and the Maharashtra government 20%. The land will host a casting yard, precast-element manufacturing facility and ready-mix concrete plant for the Dharavi Redevelopment Project. The proposal was returned for reconsideration on July 25 after opposition members raised environmental concerns about using reclaimed dumping-ground land; it was approved despite opposition from Shiv Sena (UBT) and Congress.
• The committee changed the Development Plan 2034 reservation of a 4,247.50-sq-m Mulund East plot from a sports complex and stadium to a petrol pump. The civic administration cited the absence of a petrol pump and repeated resident demands. The issue was raised with the chief minister in April 2025, who directed officials to identify land along the Eastern Express Highway. Congress corporator Meher Haider opposed the change.
• It also approved a 30-year lease of 16.7 acres at Century Mills, Lower Parel, to Peddar Realty Ltd. The plot has 23 buildings with 476 tenements occupied by mill workers’ families and 10 shops. Redevelopment must rehouse all eligible residents at the developer’s cost, in 405-sq-ft tenements. Rent is ₹1 per sq m for the first 30 years; renewal for a subsequent 30 years will follow prevailing policy. The lease is “as is where is,” and the municipal commissioner may reclaim the land after expiry. Originally leased to Century Spinning and Manufacturing Ltd in 1927 for employee housing, the lease expired in 1955; the BMC reclaimed the land after a lengthy legal battle.