Citizens stated the property card shows the plot is vested with BMC for a public garden. Citizens are opposing its auction.

Malabar Court, a 70-year-old Art Deco residential building in Malabar Hill linked to merchant David Sassoon, will be redeveloped into a 22-storey boutique luxury tower by JSW Realty (through M House Pvt Ltd) with estimated revenue exceeding ₹2,000 crore.

Development agreement signed March 18, 2026 with current owners, the Patel family, who acquired the property in March 1952. Patel family will retain land ownership post-redevelopment, an uncommon arrangement in Mumbai luxury projects.

Property details: 3,260.89 sq metres spread, currently nine units (Patel family residences and five licensees). Currently comprises basement, stilt, ground floor, four upper floors and terraces.

Project timeline: Existing structure to be vacated by January 31, 2027; demolition to follow; completion by February 28, 2031 with six-month grace period.

JSW terms: ₹200 crore in three tranches, plus apartments, parking spaces, ₹1 crore corpus per unit and three years advance maintenance. Owners to receive 72,500 sq ft or 66,230 sq ft RERA carpet area in owners' apartments.

New building: 22-storey structure with single-floor residences, duplexes, penthouse, business lounge, gymnasium, swimming pool, spa, landscaped decks, 53 parking spaces. Design blends Art Deco heritage with contemporary approach; salvaging planned for lift cabin, iron gates, wooden banisters, windows.

JSW Realty's third project in area (also developed Ruparel House and St Elizabeth's Hospital redevelopment).

Macrotech Developers Limited (formerly Lodha Developers) acquired development rights for 17,403.20 sq m (4.3 acres) in Malabar Hill, south Mumbai.

Transaction details: Agreement executed January 7 between Sorabji Kanga Charity Trust and Lodha Developers Ltd. Consideration: Rs 106.12 crore. Market valuation for stamp duty: Rs 621.71 crore. Stamp duty paid: Rs 37.42 crore.

Existing structures: Chawl, building Palacimo, six bungalows. 43 tenants in chawl. Site includes 'Silver Oak', residence of NCP(SP) chief Sharad Pawar.

Redevelopment terms: Trust receives 5,017 sq m RERA carpet area, 150 car parking spaces, 42.5% share in development component. Assistant town planner assessed developer's share at Rs 621.70 crore. 5,199.55 sq m of Palacimo Co-operative Housing Society land excluded from development. 38,990.48 sq m proposed for MHADA allocation. Bank guarantee Rs 40 crore and security deposit Rs 125 crore required.

Lodha Developers acquired development rights from Sorabji Kanga Charity Trust for ₹106.12 crore. Land market value: ₹621.71 crore. Stamp duty paid: ₹37.42 crore (executed 7 January). Property: 17,403.20 sq m (4.3 acres) with chawl Palacimo Co-operative Housing Society and six bungalows. Lodha to redevelop all except the housing society. Saleable area: 5,017 sq m carpet area plus 150 car parking spaces and 42.5% trust share. Floor space index (FSI): 4.0. Per DCPR 2034, Lodha must hand over 38,990.48 sq m built-up area to MHADA. Lodha already operates luxury projects in Malabar Hill and Worli. In 2024, sold two apartments in Lodha Malabar for ₹270 crore. Recent Worli project Lodha Sea Face saw sales: ₹131.7 crore (Anand Rathi promoter, 10,538 sq ft) and ₹185 crore (Alkem Laboratories promoter). Lodha added five projects in Dec-quarter with GDV ₹33,800 crore across MMR, NCR, Bengaluru. Q3 FY26 revenue: ₹4,672.5 crore (14.4% YoY rise). Q3 net profit: ₹957.7 crore (1.36% increase). Q3 pre-sales: ₹5,620 crore (25% YoY rise). Nine-month FY26 pre-sales: ₹14,640 crore. Full-year FY26 pre-sales guidance: ₹21,000 crore.

Citizens' group Aamchi Mumbai, Aamchi BEST (AMAB) plans to file objections to BMC public notice on dereservation of Malabar Hill plot. BMC decided to delete reservation for electricity transmission and BEST bus facility and reclassify as residential zone under Development Plan 2034. Plot on Altamont Road measures 2,475 sq m in D civic ward. Currently houses 35 officer flats for BEST senior employees. AMAB concerned about ambiguity over future use and potential vacation of staff quarters. If plot leased, lessee may be allowed redevelopment if BMC certifies need during lease period.