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The insolvency process for Lavasa Corporation took a new turn as the National Company Law Appellate Tribunal's principal bench granted State Bank of India's petition to set aside a lower court's approval of the resolution plan by Darwin Platform Infrastructure (DPIL). ...
Addressing consumer concerns about non-compliance with orders from consumer commissions, the NCDRC, through continuous monitoring, has compelled a major real estate player to compensate a flat buyer with around Rs 80 lakh. ...
On November 25, the Securities and Exchange Board of India's board is expected to discuss proposals on regulating investment platforms offering fractional real estate ownership and changing delisting rules, aiming to enable companies to go private at a fixed price. ...
The NCLT has granted an exclusion of 936 days from the 270-day Corporate Insolvency Resolution Process (CIRP) for Lok Housing and Constructions, marking one of the lengthiest exclusions for any company. ...
Mumbai Police has filed a case against a builder couple accused of duping actor Samir Kochhar and Varun Bangera, Karishma Tanna's husband, of over Rs 1 crore. The allegations involve taking advance payment for two flats. ...
While the Haryana Chief Minister's Office (CMO) is actively preparing for next year's Lok Sabha and assembly elections, crucial state organizations—such as the Haryana Human Rights Commission (HHRC), Haryana Electricity Regulatory Commission (HERC), and the Gurgaon and Panchkula benches of Haryana Real Estate Regulatory Authority (HRera)—are currently without leadership. ...
WeWork announced securing commitments for up to $682.5 million in debtor-in-possession financing from certain lenders on Tuesday, following its recent filing for bankruptcy protection. ...
In the last 1.5 years, a coalition of small-scale developers, with support from property brokers, has elevated land speculation in Navi Mumbai. After securing Cidco plots in auctions by quoting exorbitant rates—sometimes three to four times the reserved price—they proceeded to sell apartments without the necessary permissions or allotment letters from Cidco. ...
DLF Building and Services Pvt Ltd, an entity within the DLF group, has acquired 31,254 sq ft of high-end office space at Horizon Centre on Golf Course Road in Gurgaon for Rs 81 crore, as revealed by documents on FloorTap.com, a commercial property marketplace. ...
MahaRERA has taken decisive action by suspending the registration of 248 projects, including three MHADA projects in Pune and Beed. These projects, registered in February, face suspension due to their failure to update quarterly progress reports. Additionally, registration for 224 projects registered in March is on the verge of suspension for similar non-compliance regarding quarterly project reports. ...
Property registrations in Delhi came to an abrupt standstill on Monday following a directive from the Real Estate Regulatory Authority (RERA). The directive instructed all sub-registrars not to register new properties that contravene the maximum number of dwelling units permitted on a certain plot size under the Unified Building Bye Laws for Delhi, 2016 (UBBL). ...
The Uttar Pradesh government is gearing up to unveil a rehabilitation package for legacy stalled projects. The package, based on recommendations from an expert panel led by former Niti Aayog CEO Amitabh Kant earlier this year, is highly anticipated by realtors and homebuyers. It is expected to include a rescheduling scheme enabling builders to settle dues owed to the state in manageable instalments. ...
The promoter group of Everest Food Products, renowned for its Everest spice brand, has successfully purchased a sea-view luxury apartment in Mumbai's plush Worli locality. This upscale residence, located on the 37th habitable floor of the Oberoi Three SixtyWest tower, spans an impressive 6,130 sq ft carpet area. The transaction, valued at over Rs 73.50 crore, reflects a premium rate exceeding Rs 1.16 lakh per sq ft. ...
BMC chief I S Chahal directed 96 squads to file FIRs against developers ignoring air pollution mitigation measures. Despite stop-work notices, some construction sites continue without pause. ...
Delhi High Court granted bail to former Amrapali Group director Ajay Kumar in four cheating and fraud cases filed by police on complaints from homebuyers in Greater Noida. Homebuyers allege stalled projects despite payment. ...
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