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By:

Abhijit Mulye

21 August 2024 at 4:59:11 pm

Fadnavis seeks judicial probe against chiefs

AI Generated Image Mumbai: Chief Minister Devendra Fadnavis, on Monday, requested Governor Jishnu Dev Verma to constitute a committee to investigate the current and former chairpersons of the Maharashtra Public Service Commission (MPSC) over an exam paper leak by invoking Article 317 of the Constitution, even as opposition MLA Rohit Pawar issued a two-day ultimatum to the state government, warning that the protesting MPSC aspirants will either shut down Pune city or storm the Mantralaya if...

Fadnavis seeks judicial probe against chiefs

AI Generated Image Mumbai: Chief Minister Devendra Fadnavis, on Monday, requested Governor Jishnu Dev Verma to constitute a committee to investigate the current and former chairpersons of the Maharashtra Public Service Commission (MPSC) over an exam paper leak by invoking Article 317 of the Constitution, even as opposition MLA Rohit Pawar issued a two-day ultimatum to the state government, warning that the protesting MPSC aspirants will either shut down Pune city or storm the Mantralaya if the commission’s leadership is not held accountable. The chief minister’s recommendation to the Governor follows a high-level meeting with a delegation of students preparing for competitive exams. Responding to their primary demand for the immediate removal of MPSC Chairman Vivek Bhimanwar, the government clarified that a constitutional inquiry is legally mandated before any dismissal. Consequently, Fadnavis has urged the Governor to appoint a retired High Court judge to head the probe committee, requesting a report within three months to facilitate further administrative action. Honoring another commitment made during the meeting, the state government issued orders transferring MPSC Secretary Mahendra Harpalkar from his post. The current unrest stems from the leaked Food and Drug Administration (FDA) drug inspector examination paper, a breach that recently led to the arrest of several accused individuals and three beneficiary students. However, the state government’s actions have failed to quell the agitation in Pune, which has now entered its fifth day and fractured into three distinct groups over varying demands, including disputes over descriptive versus objective exam patterns. The protest site has rapidly transformed into a political flashpoint, drawing visits from prominent leaders across the spectrum, including Sharad Pawar, Raj Thackeray, Aaditya Thackeray, and Manoj Jarange Patil. Taking an aggressive stance on the ground, NCP (SP) MLA Rohit Pawar cautioned the administration that a massive escalation is imminent. Anticipating a potential visit by Congress leader Rahul Gandhi on October 7 or 8, Pawar estimated that over one lakh students could soon take to the streets. He stated that the students and their parents will heed calls to lock down Pune entirely or march directly to the state secretariat in Mumbai if the government fails to clean up the alleged corruption within the MPSC. The escalating standoff also triggered a direct political exchange between Pawar and Minister Nitesh Rane. Rane urged Pawar not to hold students hostage for political optics, emphasizing that the issue concerns the future of the youth and should not be used as a political launchpad. Rane sarcastically extended an olive branch, stating that as friends, they might even work together as cabinet ministers in the future. Pawar quickly dismissed the overture, retorting that Rane should focus on demanding Bhimanwar’s resignation from his own government rather than predicting future alliances. Pawar quipped that the BJP’s sudden collaborative tone indicates they have realized a change in government is imminent, urging Rane to show the courage to sit in the opposition. Meanwhile, the ruling BJP launched a fierce counter-offensive, categorizing the Pune protests as a staged political event rather than a genuine student movement. Addressing a press conference at the BJP state office, chief spokesperson Navnath Ban alleged that 80 percent of the crowd consists of political workers. Ban claimed that after genuine students boycotted the initial days of the protest, Pawar orchestrated the arrival of employees from Baramati Agro and local sugar factories in 200 to 250 vehicles bearing political flags. Defending the MPSC chairman, Ban pointed out that the paper leak did not even occur during Bhimanwar’s tenure as he took charge in March 2026 and noted that the student delegation that met with Fadnavis in Mumbai had already expressed satisfaction with the government’s intervention. To bolster his claim of political infiltration, the BJP spokesperson cited a recent incident where Shiv Sena (UBT) MP Omraje Nimbalkar was met with hostile “traitor” slogans at the protest site, arguing this proved the crowd consisted of partisan workers rather than competitive exam aspirants seeking academic reforms.

Mumbai leads India’s housing market sales

Writer: Bhalchandra Chorghade
Bhalchandra Chorghade
4 hours ago
3 min read
AI Generated Image
AI Generated Image

Mumbai: Mumbai continued to dominate India’s residential market in the first nine months of 2026, accounting for more than a fourth of housing sales across the country’s eight leading markets. The city recorded 72,804 residential sales between January and September, a 1% year-on-year increase, even as the overall market remained flat and the National Capital Region (NCR) witnessed an 11% decline, according to Knight Frank India.


The Mumbai market also showed a distinct shift towards higher-ticket homes, mirroring a broader premiumisation trend across major cities. Homes priced above `1 crore accounted for 55% of total residential sales across the eight markets during the period, compared with 50% a year earlier. At the same time, sales of homes below `1 crore declined by around 10% year-on-year.


Mumbai’s position as the country’s largest residential market was reinforced by its performance across price categories. It recorded 26,136 sales in the below-`50 lakh segment, accounting for 55% of sales in this category across the eight markets. The city also led the `50 lakh-`1 crore segment with 17,601 units and recorded 16,296 sales in the `1-2 crore category.


The city was also a major driver of premium and luxury housing demand. Mumbai recorded 2,012 sales in the `5-10 crore category and 526 in the `10-20 crore segment. At the ultra-luxury end, it accounted for 331 of the 571 homes sold in the `20-50 crore category nationally, or about 58%. It also recorded 41 sales of homes priced above `50 crore, the highest among the eight markets.


Supply in Mumbai remained strong, with 72,673 units launched during the nine-month period, up 13% year-on-year—the highest launch growth among the eight markets. The near-equilibrium between sales and launches indicates that developers continue to maintain a strong pipeline even as buyers become increasingly selective. Nationally, 279,899 units were launched during 9M 2026, up 4%, with launches exceeding sales for the 16th consecutive quarter.


The contrast with NCR was particularly sharp. While Mumbai registered modest growth, NCR sales fell to 35,574 units, down 11% year-on-year. The correction was concentrated largely in the `5-10 crore segment, where sales fell 39% to 4,033 units. Gurugram accounted for the bulk of the correction and represented 57% of NCR’s unsold inventory.


Across the eight markets, total residential sales stood at 258,238 units, broadly unchanged from 9M 2025. Bengaluru followed Mumbai with 43,140 sales, up 5%, while Pune recorded 36,402 units with no year-on-year change. Hyderabad, Ahmedabad, Chennai and Kolkata registered growth of 2-4%.


The increase in higher-ticket sales comes alongside a gradual rise in inventory levels. The Quarters to Sell (QTS) metric rose to 6.1 quarters in Q3 2026 from 5.8 quarters a year earlier, marking its fourth consecutive quarterly increase and the highest level since Q2 2023.


Shishir Baijal, International Partner, Chairman & Managing Director, Knight Frank India, said, “India’s residential market is entering a more discerning phase, in which the quality and relevance of supply will matter as much as the strength of demand. Sales held steady in the first nine months of 2026 as the market plateaus after several years of strong growth, and combined sales in the seven markets outside NCR rose 2% YoY. NCR’s 11% moderation has been led by the INR 5–10 crore segment, while the INR 2–5 crore segment continues to grow across most major markets, NCR included. The shift towards higher ticket sizes and a gradual rise in Quarters to Sell show that buyers are becoming more selective, pointing to normalisation rather than a broad-based slowdown. As the benefit of lower interest rates moderates, income growth, relevant new supply and local demand drivers will shape the next phase of growth across India’s leading cities.”


For Mumbai, the data points to a market that is continuing to absorb substantial volumes while simultaneously moving towards higher-value housing. The city’s combination of strong sales, robust launches and dominance across premium and ultra-luxury segments keeps it at the centre of India’s residential market, even as the broader sector enters a more selective phase.

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