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Reliance wins Juhu Galli redevelopment bid

A consortium led by Reliance Group has won the bid to redevelop the Juhu Galli slum cluster in Mumbai’s Andheri area, marking the company’s entry into the city’s growing slum rehabilitation sector. The project, spread across more than 101 acres, is among the largest slum redevelopment initiatives currently planned in Mumbai.

The winning consortium is headed by Reliance 4IR Realty Development and includes Mahadev Realtors Juhu, a subsidiary of Aspect Realty. The group emerged ahead of competing bids from JSW Group and Shapoorji Pallonji Group.

According to the Slum Rehabilitation Authority (SRA), the redevelopment project is expected to provide more than 28,000 rehabilitation homes for eligible residents currently living in the Juhu Galli settlement. The initiative is aimed at improving housing conditions and modernising infrastructure in one of Mumbai’s densely populated areas.

The project reflects increasing interest from large corporate groups in Mumbai’s slum redevelopment sector. In recent years, the Maharashtra government introduced policy changes to encourage large-scale redevelopment projects. A new framework announced in 2025 allows redevelopment of large slum clusters and offers developers additional development rights and higher building limits, making such projects more financially attractive.

To safeguard residents during the redevelopment process, the Reliance-led consortium will be required to provide funds for temporary accommodation. The company must pay around ₹700 crore over the next two years towards temporary rent for affected residents. It is also required to deposit an additional year’s rent and provide a performance guarantee of ₹100 crore.

Officials said the successful bidding process highlights the growing role of major private-sector companies in addressing Mumbai’s housing challenges through large-scale urban renewal projects. The development also places Reliance alongside other major players already active in Mumbai’s redevelopment sector, including the Adani Group’s ongoing Dharavi redevelopment project.

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CNG, PNG prices raised again in Mumbai

Consumers in Mumbai will have to pay more for compressed natural gas (CNG) and piped natural gas (PNG) after city gas distributor Mahanagar Gas Limited announced another price increase, the second revision in just over two weeks.

With the latest hike, the retail price of CNG in Mumbai has increased by ₹2 per kilogram to ₹86 per kg. PNG, which is widely used by households for cooking, has also become costlier, with prices raised by ₹1.50 per standard cubic metre.

The revised rates came into effect immediately and are expected to impact both household budgets and transportation costs. CNG is a popular fuel among taxi operators, auto-rickshaw drivers and private vehicle owners due to its relatively lower cost compared to petrol and diesel.

This is the second price revision in around 15 days. Earlier in May, Mahanagar Gas had increased CNG and PNG prices following changes in input costs. This latest increase may add to operating expenses for commercial transport operators across the city. The company said the latest revision was necessary to partly offset higher gas procurement expenses.

Despite the increase, MGL stated that CNG continues to remain more economical than conventional fuels such as petrol and diesel. The company noted that natural gas remains a cleaner fuel option and continues to offer cost advantages for many consumers.

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Gurugram tops Mumbai with ₹24,000 cr ultra-luxury home sales

Gurugram has overtaken Mumbai to become India’s largest market for ultra-luxury homes, signalling a major shift in the country’s high-end property landscape. Homes priced at ₹10 crore and above saw record sales in the NCR city in 2025, both in terms of value and the number of units sold.

According to a recent industry report, Gurugram registered sales of around 1,494 ultra-luxury homes worth more than ₹24,000 crore during the year. This pushed it ahead of Mumbai, which has traditionally dominated the premium housing segment. The sharp rise highlights growing demand for spacious, high-end homes among wealthy buyers, including top executives, entrepreneurs and non-resident Indians.

Real estate experts say the trend is being driven by several factors. Gurugram offers larger apartments and villas, modern gated communities, and newer projects with luxury amenities. Compared to Mumbai, buyers also get more space at a relatively lower price per square foot. Improved infrastructure, proximity to Delhi, and the presence of major corporate offices have further boosted the city’s appeal.

Developers have responded with branded residences, penthouses and high-rise luxury projects, many of which were sold even before completion. Strong interest from NRI investors and high-income professionals has helped maintain steady demand despite high property prices.

Mumbai, while moving to second place, continues to see strong traction in its premium micro-markets such as South Mumbai and parts of the western suburbs. However, limited land availability and higher costs have made large luxury developments more challenging compared to Gurugram.

The report notes that the overall ultra-luxury housing segment in India is expanding rapidly, reflecting rising wealth and a post-pandemic preference for bigger, more exclusive homes.

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