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According to two persons with knowledge of the situation, Edelweiss Special Opportunities Fund gave Bengaluru-based real estate firm Shreshta Infra Projects Pvt Ltd a Rs 350 crore loan facility, in part to finish two projects and repay loans raised from Oaktree Capital. ...
The Rajasthan bench of the Authority for Advance Rulings has ruled that if a lessee (who is registered for GST purposes) uses a residential property for commercial activities, then GST (Goods and Services Tax) is chargeable on the rent. ...
Due to the developers' failure to pay the survey price, the structural assessment of 22 highrise societies that the district administration requested last year has been delayed for the last six months. The developers are now receiving notifications from the deputy commissioner informing them that if they continue to wait, they risk legal action. ...
In order to build rental homes for Dharavi locals, the Dharavi Redevelopment Project Private Ltd (DRPPL) has requested an additional 18 acres of Mulund octroi property in addition to a 46-acre land block in Mulund. BMC owns both of the land lots. ...
In compliance with the directives of the Real Estate Regulatory Authority (RERA), the state has modified the module for registering houses and apartments. Instead of being registered according to super built-up area, as was the case up until this week, houses and apartments in the state will henceforth be recorded according to carpet area. ...
In the Andheri district of Mumbai, managed workspace provider Table Space and real estate developer Runwal have reached an agreement for the long-term lease of more than 1.31 lakh square feet of office space in the developer's commercial tower. The period of the lease is more than ten years. ...
To protect the interests of homeowners, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has enforced a single registration number for each standalone project. In response to instances when developers obtained two or more MahaRERA registration numbers for the same or different phases of a real estate project, the regulatory body has implemented this procedure. ...
On Wednesday, the National Company Law Appellate Tribunal (NCLAT) overturned an NCLT judgment that had issued a show cause notice and recommended SARE Realty Projects' liquidation without considering other options, such as finding a buyer. ...
The 'model building regulations' that the Bureau of Indian Standards (BIS) announced on Tuesday are straightforward and easy to apply, which will facilitate their widespread acceptance throughout the nation. The National Building Code (NBC) 2016 and other current national and international building laws were studied in order to produce the model building regulation, Standardized Development and Building laws 2023. ...
Real estate giant Lodha, listed as Macrotech Developers, anticipates that in the coming years, development of residential and commercial properties, including offices, a life sciences hub, warehousing, and industrial spaces, will lead to the scaling up of its integrated smart township Palava City, which is spread over nearly 5,000 acres near Mumbai, and generate revenues worth $1 billion, or over Rs 8,000 crore, annually. ...
In a money laundering case, R K Arora, the chairman and promoter of the prominent real estate company Supertech Group, was given temporary parole by a Delhi court on Tuesday for a period of one month due to medical reasons. The accused was given relief by Judge Devender Kumar Jangala in exchange for two sureties and a personal bond of Rs. 1 lakh each. ...
The lending facility that Omaxe Group acquired from Varde Partners on behalf of Omaxe Heritage has been closed. The entire loan sum of Rs. 440 crore, including interest, has been reimbursed by the corporation. ...
The developer of Supertech Estate in Vaishali is the subject of an investigation by the Ghaziabad Development Authority (GDA) for reportedly chopping out 110 more apartments from larger units. Additionally, it was discovered that the developer had built apartments in a section of the original plan designated as a green belt. ...
On Monday, the Adani group announced that it would provide new, 350 square foot apartments to qualified residents of the Dharavi slum clusters. According to the Adani group, which is working with the Maharashtra government to rehabilitate the Dharavi slums, the flat size was "17% more" than what is typically provided as part of such projects. ...
Bollywood star Amitabh Bachchan has acquired a 10,000 square foot plot in an Ayodhya project being constructed by Mumbai-based real estate company House of Abhinandan Lodha for approximately Rs 14.5 crore, according to sources on Monday. The agreement was confirmed by the House of Abhinandan Lodha, but no financial information was disclosed. ...
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