<p>In the heart of Mumbai’s luxury real estate market, a story of trust and betrayal has come to light. The Economic Offences Wing (EOW) of Mumbai Police has arrested <b>Ramesh Shah</b> and his son <b>Rahul Shah</b>, the driving force behind <a href="https://www.sumergroup.co.in/home.html" target="_blank">Radius Sumer Developers</a>, for allegedly orchestrating a <b>₹35.7 crore</b> fraud in the ill-fated Harbour Heights project at Mazgaon.</p>

<h2>A Dream Investment Turns Sour</h2>
<p>It all began with a promise. Harbour Heights was marketed as a golden opportunity, especially for NRIs looking to invest in India’s booming property sector. Among those lured by this vision were <b>Mahesh Mirani</b>, a Bandra West resident, and his Hong Kong-based brother, <b>Purushottam Mirani</b>. The duo invested ₹21.94 crore in advance, enticed by the prospect of owning 18,181 square feet of prime carpet area at a premium rate, with a total commitment of <b>₹52.5 crore.</b></p>
<p>But the dream quickly unraveled. Despite agreements and repeated assurances, no construction took place for two years. In April 2019, a cancellation agreement was drawn up, with the developers promising to return ₹35.71 crore. The cheques issued bounced, leaving the Mirani brothers and dozens of other investors in the lurch.</p>

<h2>A Web of Broken Promises</h2>
<p>The EOW investigation revealed that the father-son duo, along with other directors, had allegedly duped not just the Mirani brothers but also 77 other flat buyers. The Harbour Heights project, once envisioned as three soaring towers of 25 stories each, never moved beyond the plinth level. Investors were left with nothing but empty promises and dishonoured cheques.</p>

<h2>Legal Action and Arrests</h2>
<p>The Shahs were arrested from their upscale Gamdevi apartment and produced before a special MPID court, which remanded them to police custody. The case, registered under cheating and depositor protection laws, underscores the risks faced by homebuyers and investors in high-profile real estate projects.</p>

<h2>A Stark Reminder for Investors</h2>
<p>The Harbour Heights saga is a cautionary tale for anyone navigating India’s real estate landscape. Despite high-profile marketing and big promises, due diligence and vigilance remain crucial. As the case unfolds, it serves as a reminder that transparency and accountability are non-negotiable in property investments.</p>


In the heart of Mumbai’s luxury real estate market a story of trust and betrayal has come to light The Economic Offences Wing EOW of Mumbai Police has arrested Ramesh Shah and his son Rahul Shah the driving force behind Radius Sumer Developers for allegedly orchestrating a 35.7 crore fraud in the ill fated Harbour Heights project at Mazgaon A Dream Investment Turns Sour It all began with a promise Harbour Heights was marketed as a golden opportunity especially for NRIs looking to invest in India’s booming property sector Among those lured by this vision were Mahesh Mirani a Bandra West resident and his Hong Kong based brother Purushottam Mirani The duo invested 21.94 crore in advance enticed by the prospect of owning 18181 square feet of prime carpet area at a premium rate with a total commitment of 52.5 crore But the dream quickly unraveled Despite agreements and repeated assurances no construction took place for two years In April 2019 a cancellation agreement was drawn up with the developers promising to return 35.71 crore The cheques issued bounced leaving the Mirani brothers and dozens of other investors in the lurch A Web of Broken Promises The EOW investigation revealed that the father son duo along with other directors had allegedly duped not just the Mirani brothers but also 77 other flat buyers The Harbour Heights project once envisioned as three soaring towers of 25 stories each never moved beyond the plinth level Investors were left with nothing but empty promises and dishonoured cheques Legal Action and Arrests The Shahs were arrested from their upscale Gamdevi apartment and produced before a special MPID court which remanded them to police custody The case registered under cheating and depositor protection laws underscores the risks faced by homebuyers and investors in high profile real estate projects A Stark Reminder for Investors The Harbour Heights saga is a cautionary tale for anyone navigating India’s real estate landscape Despite high profile marketing and big promises due diligence and vigilance remain crucial As the case unfolds it serves as a reminder that transparency and accountability are non negotiable in property investments

Mumbai EOW arrests Radius Sumer Developers’ promoters for cheating 78 investors of ₹35.7 crore in failed Harbour Heights Mazgaon project.

Mumbai EOW Nabs Radius Sumer Developers’ Promoters in ₹35.7 Crore Harbour Heights Scam

<h2>A Bold Leap in Infrastructure and Opportunity</h2>
<p>Karnataka is on the cusp of a transformative era, driven by visionary infrastructure projects that promise to reshape the state’s economic and urban landscape. The Karnataka government has set in motion the construction of new airports in Vijayapura and Hassan, alongside a second international airport for Bengaluru. These ambitious initiatives are not just about travel—they are catalysts for a sweeping real estate boom, economic upliftment, and a brighter future for communities across the state.</p>
<h2>Blueprints for Progress: The Airports in Focus</h2>
<ul>
<li>Vijayapura Airport</li>
<li>Land Area: 727 acres</li>
<li>Estimated Cost: <b>₹347.92 crore</b></li>
<li>Status: Construction underway, targeted completion by 2026</li>
</ul>
<ul>
<li>Hassan Airport</li>
<li>Location: Bhoovanahalli, 6 km from Hassan town</li>
<li>Estimated Cost: <b>₹193.65 crore</b></li>
<li>Status: Construction in progress, slated for 2026 completion</li>
</ul>
<h2>Bengaluru’s Second International Airport</h2>
<p>In addition to these regional hubs, Bengaluru is preparing to welcome its second international airport. This development will alleviate congestion at Kempegowda International Airport and bolster connectivity across South India, further cementing Bengaluru’s status as a global business and technology hub.</p>
<h2>The Real Estate Ripple Effect</h2>
<p>The announcement of these airports has sent shockwaves of optimism through Karnataka’s real estate sector. Land prices in the vicinity of Vijayapura and Hassan have surged, with property demand skyrocketing as investors recognize the regions’ newfound potential. Real estate developers are flocking to these high-growth zones, eager to capitalize on the promise of robust returns and long-term appreciation.</p>
<h2>A Boost for Local Communities and Businesses</h2>
<p>Beyond real estate, the airport projects are set to revolutionize local economies. Improved logistics and connectivity will benefit local businesses, agriculture, and trade, while enhanced infrastructure will attract tourism and generate employment. The Karnataka government anticipates a significant uplift in state revenue, with positive ripple effects across transportation, trade, and tourism.</p>
<h2>A Vision for Karnataka’s Future</h2>
<p>The launch of new airports in Vijayapura, Hassan, and Bengaluru marks a turning point for Karnataka. These projects are not merely about aviation—they are about building vibrant, self-sustaining ecosystems that will drive growth, prosperity, and opportunity for generations to come. For investors, developers, and local communities alike, the future has never looked brighter.</p>

A Bold Leap in Infrastructure and Opportunity Karnataka is on the cusp of a transformative era driven by visionary infrastructure projects that promise to reshape the states economic and urban landscape The Karnataka government has set in motion the construction of new airports in Vijayapura and Hassan alongside a second international airport for Bengaluru These ambitious initiatives are not just about travel they are catalysts for a sweeping real estate boom economic upliftment and a brighter future for communities across the state Blueprints for Progress The Airports in Focus Vijayapura Airport Land Area 727 acres Estimated Cost 34792 crore Status Construction underway targeted completion by 2026 Hassan Airport Location Bhoovanahalli 6 km from Hassan town Estimated Cost 19365 crore Status Construction in progress slated for 2026 completion Bengalurus Second International Airport In addition to these regional hubs Bengaluru is preparing to welcome its second international airport This development will alleviate congestion at Kempegowda International Airport and bolster connectivity across South India further cementing Bengalurus status as a global business and technology hub The Real Estate Ripple Effect The announcement of these airports has sent shockwaves of optimism through Karnatakas real estate sector Land prices in the vicinity of Vijayapura and Hassan have surged with property demand skyrocketing as investors recognize the regions newfound potential Real estate developers are flocking to these highgrowth zones eager to capitalize on the promise of robust returns and longterm appreciation A Boost for Local Communities and Businesses Beyond real estate the airport projects are set to revolutionize local economies Improved logistics and connectivity will benefit local businesses agriculture and trade while enhanced infrastructure will attract tourism and generate employment The Karnataka government anticipates a significant uplift in state revenue with positive ripple effects across transportation trade and tourism A Vision for Karnatakas Future The launch of new airports in Vijayapura Hassan and Bengaluru marks a turning point for Karnataka These projects are not merely about aviation they are about building vibrant selfsustaining ecosystems that will drive growth prosperity and opportunity for generations to come For investors developers and local communities alike the future has never looked brighter

New airports in Karnataka drive real estate surge and economic growth in Vijayapura, Hassan, and Bengaluru.

Karnataka’s Airports Take Off: A New Dawn for Real Estate and Economy

<h2>A New Era of Expansion and Independence</h2>
<p><a href="https://www.raymond.in/" target="_blank">Raymond Group</a>, a storied name in Indian industry, is poised to redefine its legacy in the real estate sector. Having successfully demerged its real estate business and set the stage for its imminent listing, <a href="https://raymondrealty.in/" target="_blank">Raymond Realty</a> is now targeting an ambitious doubling of its topline to <b>₹4,000 crore</b> over the next five years. This bold vision, articulated by Chairman and Managing Director <b>Gautam Singhania</b>, is anchored in a robust growth strategy, disciplined financial management, and a portfolio brimming with high-potential projects across Mumbai and Thane.</p>
<h2>A Growth Engine for the Future</h2>
<p>Raymond Realty’s FY25 performance already speaks to its momentum: with revenue of <b>₹2,313 crore</b> and a profit before tax of <b>₹370 crore</b>, the business is firing on all cylinders. The company’s topline grew by an impressive 45.2% last year, a testament to its execution prowess and the strong demand for its projects. Looking ahead, Singhania has set a target of 15% annual revenue growth and 25% annual EBITDA growth, underscoring the group’s confidence in the sector’s long-term potential.</p>
<h2>A Strong Foundation for the Journey Ahead</h2>
<p>Raymond Realty enters this new chapter with a clean balance sheet, having achieved net debt-free status. While Singhania acknowledges that maintaining this position may be challenging as the business scales, he emphasizes a commitment to financial discipline and prudent capital allocation. <i>“We want to be a strong company with good financial discipline,”</i> he affirms, signaling a focus on sustainable, value-driven growth.</p>
<h2>A Portfolio That Inspires Confidence</h2>
<p>The company’s development pipeline is nothing short of transformative. With projects in Thane and Mumbai collectively valued at over <b>₹25,000 crore</b>, Raymond Realty is well-positioned to capitalize on the region’s burgeoning demand for quality housing and commercial spaces. The recent signing of two joint development agreements—in Mahim and Wadala—worth <b>₹6,800 crore</b>, further bolsters its portfolio. Joint development projects are expected to account for 50% of annual pre-sales within two years, reflecting a strategic pivot toward asset-light, scalable growth.</p>
<h2>A Vision Rooted in Mumbai’s Growth Story</h2>
<p>Mumbai remains the beating heart of Raymond Realty’s expansion. The city accounts for 28% of residential sales among India’s top 10 cities, with 700,000 units sold annually. This vibrant market, coupled with Raymond’s focus on mid-size and premium segments, provides a fertile ground for sustained growth. Despite headwinds from rising prices and cautious forecasts by rating agencies, Singhania remains bullish on sales, noting that residential prices have grown by 7-8% and are expected to maintain this trajectory.</p>
<h2>A Commitment to Excellence and Innovation</h2>
<p>As Raymond Realty prepares for its stock market debut, the company is not just building homes—it is building communities, trust, and a legacy of excellence. With plans to launch two new projects on its own land in Thane and four joint development projects in Mumbai in FY26, the group is laying the groundwork for a future where real estate is not just a business, but a cornerstone of India’s urban transformation.</p>

A New Era of Expansion and Independence Raymond Group a storied name in Indian industry is poised to redefine its legacy in the real estate sector Having successfully demerged its real estate business and set the stage for its imminent listing Raymond Realty is now targeting an ambitious doubling of its topline to 4000 crore over the next five years This bold vision articulated by Chairman and Managing Director Gautam Singhania is anchored in a robust growth strategy disciplined financial management and a portfolio brimming with highpotential projects across Mumbai and Thane A Growth Engine for the Future Raymond Realtys FY25 performance already speaks to its momentum with revenue of 2313 crore and a profit before tax of 370 crore the business is firing on all cylinders The companys topline grew by an impressive 452 last year a testament to its execution prowess and the strong demand for its projects Looking ahead Singhania has set a target of 15 annual revenue growth and 25 annual EBITDA growth underscoring the groups confidence in the sectors longterm potential A Strong Foundation for the Journey Ahead Raymond Realty enters this new chapter with a clean balance sheet having achieved net debtfree status While Singhania acknowledges that maintaining this position may be challenging as the business scales he emphasizes a commitment to financial discipline and prudent capital allocation We want to be a strong company with good financial discipline he affirms signaling a focus on sustainable valuedriven growth A Portfolio That Inspires Confidence The companys development pipeline is nothing short of transformative With projects in Thane and Mumbai collectively valued at over 25000 crore Raymond Realty is wellpositioned to capitalize on the regions burgeoning demand for quality housing and commercial spaces The recent signing of two joint development agreementsin Mahim and Wadalaworth 6800 crore further bolsters its portfolio Joint development projects are expected to account for 50 of annual presales within two years reflecting a strategic pivot toward assetlight scalable growth A Vision Rooted in Mumbais Growth Story Mumbai remains the beating heart of Raymond Realtys expansion The city accounts for 28 of residential sales among Indias top 10 cities with 700000 units sold annually This vibrant market coupled with Raymonds focus on midsize and premium segments provides a fertile ground for sustained growth Despite headwinds from rising prices and cautious forecasts by rating agencies Singhania remains bullish on sales noting that residential prices have grown by 78 and are expected to maintain this trajectory A Commitment to Excellence and Innovation As Raymond Realty prepares for its stock market debut the company is not just building homesit is building communities trust and a legacy of excellence With plans to launch two new projects on its own land in Thane and four joint development projects in Mumbai in FY26 the group is laying the groundwork for a future where real estate is not just a business but a cornerstone of Indias urban transformation

Raymond Realty targets ₹4,000 crore revenue in 5 years, leveraging Mumbai and Thane projects for sustainable growth.

Raymond Realty: Charting a Bold Path to Doubling Growth

<h2>A Star’s Real Estate Vision</h2>
<p>Bollywood actor <a href="https://www.aurumproptech.in/pulse/media/jaideep-ahlawat-andheri-west-home-mumbai-celebrity-property" target="_blank">Jaideep Ahlawat</a>, celebrated for his powerful performances in films like Raees and Raazi, and his wife Jyoti Hooda, have made headlines once again with their latest real estate investment. In a remarkable move, the couple has purchased their second luxury apartment in just one month—both in the same coveted building, Poorna Apartments, in Mumbai’s upscale Andheri West locality. Each apartment, valued at <b>₹10 crore</b>, underscores their confidence in the enduring appeal of premium Mumbai real estate.</p>
<h2>A Home for Every Dream</h2>
<p>The latest acquisition, registered on June 12, 2025, is located on the 14th floor and mirrors the couple’s previous purchase on the 13th floor in May. Both properties offer a generous carpet area of 1,950 sq. ft. (181 sq. m.) and a built-up area of approximately 2,341 sq. ft. (217.47 sq. m.). The June transaction includes two dedicated car parking spaces, while the May purchase came with four. Each deal attracted a stamp duty payment of ₹60 lakh and registration charges of ₹30,000, reflecting the high value and prestige associated with these properties.</p>
<h2>Why Andheri West?</h2>
<p>Andheri West has long been a magnet for celebrities, professionals, and investors, thanks to its strategic location and vibrant lifestyle. The area is seamlessly connected by the Western Express Highway, Link Road, SV Road, and the Versova-Andheri-Ghatkopar Metro line, making it one of Mumbai’s most accessible and desirable neighborhoods. Over the years, Andheri West has evolved into a dynamic hub, blending modern office complexes, co-working spaces, upscale retail outlets, entertainment centers, and premium residential developments. This unique mix has cemented its reputation as a destination of choice for those seeking both convenience and luxury.</p>
<h2>A Legacy of Excellence</h2>
<p>Jaideep Ahlawat’s journey from humble beginnings to Bollywood stardom is a testament to his dedication and talent. Known for his standout roles in Paatal Lok—for which he won the Filmfare OTT Award for Best Actor—and the recent Netflix film Jewel Thief, Ahlawat continues to inspire aspiring actors across the country. His real estate investments reflect not just financial acumen but also a desire to build a lasting legacy for his family.</p>
<h2>A Vision for the Future</h2>
<p>With two landmark properties in Poorna Apartments, Jaideep Ahlawat and Jyoti Hooda have set a new standard for celebrity real estate investments. Their choices highlight the enduring allure of Andheri West as a micro-market that offers world-class amenities, unparalleled connectivity, and a vibrant community. As Mumbai’s real estate landscape continues to evolve, Ahlawat’s story serves as a reminder of the transformative power of strategic investments in the city’s most sought-after addresses.</p>

A Stars Real Estate Vision Bollywood actor Jaideep Ahlawat celebrated for his powerful performances in films like Raees and Raazi and his wife Jyoti Hooda have made headlines once again with their latest real estate investment In a remarkable move the couple has purchased their second luxury apartment in just one month both in the same coveted building Poorna Apartments in Mumbais upscale Andheri West locality Each apartment valued at 10 crore underscores their confidence in the enduring appeal of premium Mumbai real estate A Home for Every Dream The latest acquisition registered on June 12 2025 is located on the 14th floor and mirrors the couples previous purchase on the 13th floor in May Both properties offer a generous carpet area of 1950 sq ft 181 sq m and a builtup area of approximately 2341 sq ft 21747 sq m The June transaction includes two dedicated car parking spaces while the May purchase came with four Each deal attracted a stamp duty payment of 60 lakh and registration charges of 30000 reflecting the high value and prestige associated with these properties Why Andheri West Andheri West has long been a magnet for celebrities professionals and investors thanks to its strategic location and vibrant lifestyle The area is seamlessly connected by the Western Express Highway Link Road SV Road and the VersovaAndheriGhatkopar Metro line making it one of Mumbais most accessible and desirable neighborhoods Over the years Andheri West has evolved into a dynamic hub blending modern office complexes coworking spaces upscale retail outlets entertainment centers and premium residential developments This unique mix has cemented its reputation as a destination of choice for those seeking both convenience and luxury A Legacy of Excellence Jaideep Ahlawats journey from humble beginnings to Bollywood stardom is a testament to his dedication and talent Known for his standout roles in Paatal Lokfor which he won the Filmfare OTT Award for Best Actorand the recent Netflix film Jewel Thief Ahlawat continues to inspire aspiring actors across the country His real estate investments reflect not just financial acumen but also a desire to build a lasting legacy for his family A Vision for the Future With two landmark properties in Poorna Apartments Jaideep Ahlawat and Jyoti Hooda have set a new standard for celebrity real estate investments Their choices highlight the enduring allure of Andheri West as a micromarket that offers worldclass amenities unparalleled connectivity and a vibrant community As Mumbais real estate landscape continues to evolve Ahlawats story serves as a reminder of the transformative power of strategic investments in the citys most soughtafter addresses

Jaideep Ahlawat and wife Jyoti Hooda buy a second luxury apartment in Andheri West for ₹10 crore, boosting Mumbai realty.

Mumbai EOW Nabs Radius Sumer Developers’ Promoters in ₹35.7 Crore Harbour Heights Scam

A Dream Investment Turns Sour

A Web of Broken Promises

Legal Action and Arrests

A Stark Reminder for Investors

Read More

Karnataka’s Airports Take Off: A New Dawn for Real Estate and Economy

Raymond Realty: Charting a Bold Path to Doubling Growth

Jaideep Ahlawat Doubles Down: Bollywood Star Invests in Andheri’s Luxury Living

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