Tata AIA Life Insurance leased nearly 99,000 sq ft of office space at Hiranandani Estate in Thane for almost a decade. Security deposit: ₹6.71 crore. Total rent outgo may cross ₹100 crore. The lease underlines continued demand from large corporate occupiers for sizeable office space.

Tata AIA leased 98,000 sq ft of office space located on the 15th floor of Centaurus at Hiranandani Estate in Thane near Mumbai for total rent of 91 crore.

Thane Municipal Corporation (TMC) proposed steep property tax hike of 12% for residential and up to 20% for non-residential properties, first revision in eight years. Proposal before municipal General Body meeting this week; takes effect only after House approval.

Expected to generate additional Rs 104.67 crore - Rs 63.07 crore from residential and Rs 41.60 crore from non-residential properties. TMC currently expects to collect Rs 768.42 crore annually in property tax; 2026-27 budget targets Rs 1,600 crore, leaving gap of Rs 831.58 crore.

3.97 lakh residential property owners with homes up to 500 sq ft continue to receive 100% exemption on general component of property tax, costing corporation Rs 43 crore annually. Ex-servicemen retain exemption costing Rs 16.71 lakh yearly.

Proposal comes four months after TMC presented 2026-27 budget without property tax increase.

Property tax collection increased by Rs 108 crore from Rs 702 crore in FY 2023-24. Target was Rs 850 crore; 95 per cent achieved. Municipal Commissioner Saurabh Rao credited efficient digital payment options and planned collection efforts. Payment methods: online links, direct debit, credit/debit cards, cheques, ATMs. 21 collection centres established including mobile van camps in housing societies. Collection efforts included SMS reminders, auto-rickshaw campaigns, and social media appeals. Defaulters faced warrants, property seizures, and service interruptions. Majiwada-Manpada administrative ward led with Rs 246.14 crore collected.

• A trial run took place on September 22, 2025, with Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde travelling between two stations. The government was said to have indicated services would begin within three months; a later announcement discussed operating the Gaimukh–Cadbury Junction stretch by 2026.
• Transport Minister Pratap Sarnaik said last week that the initial route would operate only up to Kapurbawdi, with the first phase possibly running between Gaimukh and Kapurbawdi by the end of 2026. No revised station list, commissioning schedule or reason for the change was provided.
• The Thane unit of the Nationalist Congress Party–Sharadchandra Pawar protested near Chitalsar-Manpada station. District president Manoj Pradhan, corporator Abhijit Pawar and party members criticised the delay. Pradhan alleged the trial event was presented like an inauguration for political benefit ahead of municipal elections.
• Pradhan also questioned the proposed integral ring metro project in Thane, asking what its timeline would be given Metro 4-4A’s delay.