Live news feed — last updated 03 July 2026
Mumbai is set to develop 27 underground parking facilities, one in each administrative ward, to alleviate the severe parking shortage. This project, backed by the BMC Budget 2026-27, will create parking beneath existing gardens and playgrounds, reducing roadside parking and traffic congestion.
The Brihanmumbai Municipal Corporation (BMC) is preparing to take over 24 major flyovers and several key road structures from the Maharashtra State Road Development Corporation (MSRDC). This move aims to establish a single point of authority for maintenance, repairs, and pothole filling, promising faster response times.
Boman Irani, CMD of Rustomjee Group, anticipates redevelopment opportunities worth approximately ₹1.30 lakh crore in Mumbai by 2030. This surge in redevelopment is likely to lead to modernized infrastructure and improved housing stock across the city.
Prime residential prices in Mumbai have seen an 8.7% increase, leading to a shrinking of purchasable space for $1 million (₹9.4 crore). According to Knight Frank's Wealth Report 2026, $1 million now buys 96 sq m in Mumbai, down from 99 sq m a year ago.
The Mumbai Metro Rail Corporation Ltd (MMRCL) has submitted the proposal for Metro Line 11, a 17.4 km underground corridor from Anik Depot in Sion to the Gateway of India, to the central Govt. Estimated to cost ₹23,487 crore, the line aims to improve connectivity between the eastern suburbs and South Mumbai ,passing through congested areas like Byculla, Nagpada, and Crawford Market.
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