Live news feed — last updated 22 June 2026
The indefinite strike by BEST Undertaking employees entered its second day, causing significant disruptions to public bus services across the Mumbai Metropolitan Region. Electricity distribution services, however, continued without interruption.
Reliance Industries' real estate arm, as part of a consortium, has secured the redevelopment rights for the 101-acre Juhu Lane–Gilbert Hill slum cluster in Andheri. This project, one of Mumbai's largest slum redevelopment opportunities, aims to rehabilitate over 28,000 homes.
Real estate developer Ascenta has launched a film showcasing the enhanced connectivity to emerging Mumbai 3.0 corridor. The film highlights infrastructure developments like Atal Setu, Mumbai-Pune Expressway, and Navi Mumbai Airport. These projects are expected to drive demand for second homes and long-term investments across this region
MMRDA has presented a surplus budget of ₹48,072 crore, with 87% allocated to infrastructure projects, including roads, public transport, and urban development. A notable provision of ₹4,000 crore is earmarked for the development of Mumbai 3.0 New Town, aiming for planned urban expansion.
Mumbai's residential real estate market has started the new financial year strongly, with property registrations in April 2026 reaching a 14-year high. Over 13,800 registrations were recorded, a 6% year-on-year growth. Stamp duty collections exceeded ₹1,100 crore. This surge indicates sustained end-user demand.
The BMC's FY26-27 budget includes a substantial allocation of ₹6,475 crore for water security initiatives. This funding is designated for projects such as the Manori desalination plant (₹500 crore) and the Gargai project (₹437.51 crore), aimed at augmenting the city's water supply capacity.
The highly anticipated 'Missing Link' project on the Mumbai-Pune Expressway is set to be inaugurated on May 1, significantly reducing travel time by approximately 30 minutes and enhancing safety. The 10.5-km stretch features tunnels and a bridge, bypassing the accident-prone Khandala Ghat. This infrastructure upgrade is expected to ease traffic congestion, improve travel safety.
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.
Former Infosys CFO Mohandas Pai has highlighted significant disparities between 'world-class' private developments and deteriorating public infrastructure in Mumbai, particularly noting the poor state of roads in Andheri. Concerns include damaged roads, construction debris, slow-paced work, and inadequate footpaths, pointing to issues in civic administration.
BMC is set to table an amnesty scheme aimed at granting occupation certificates (OCs) to thousands of housing societies that have been unable to obtain them due to deviations or additional constructions. The scheme will apply to societies built before November 17, 2016, and will allow legalisation upon payment of applicable charges, with a 50% concession on various fees for proposals submitted within the first six months.
Schools, transit, healthcare and essentials within walking distance — plus quick travel-time estimates to Mumbai's top business hubs.
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Earn reward points Find answers to common queries about LIC Colony, Mumbai.
Yes, LIC Colony is a well-known residential locality in Mumbai. Residents appreciate the area for its livability, connectivity, and convenient access to daily essentials.
Depending on the project, property type, and exact location, prices generally range between ₹₹ 1.4 Crore to 5.24 Crore.
The PIN code for LIC Colony is 400103, used for postal services, courier deliveries, and official address identification.
LIC Colony offers a variety of housing options, including Apartment. Buyers and tenants can choose from configurations such as 1 BHK, depending on their requirements and budget.
LIC Colony enjoys good connectivity to key areas of Mumbai.
Nearby localities include Roshan Nagar, Devki Nagar, Ratan Nagar, Yogi Nagar, Prem Nagar, ensuring smooth connectivity and easy access to important parts of the city.
Yes, LIC Colony is supported by strong social infrastructure. Nearby facilities include schools like St Francis School, StFrancis DAssisi High School, Gokhale Education Society, Narayana e-Techno School, St Xaviers High School, hospitals such as Karuna Hospital, Dr Sushil Hospital, Ameya Orthopedic Hospital, Neerja Children Hospital, Shri Harilal Bhagwati Municipal General Hospital, and malls including Croma Mall, V Star Mall, Target The Mall, The Zone Mall, Omkar Stores.
