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Priyanka Chopra Jonas, busy with Hollywood projects, sold two Mumbai apartments in Andheri to director Abhishek Chaubey for a total of Rs 6 crore. ...
The Bombay High Court has ruled that the 50% rebate for developers on additional Floor Space Index (FSI) during the pandemic, granted by the state government, applies until project completion. The court directed BMC to renew building permissions without insisting on differential premiums. ...
A recent notification from the state urban development department mandates city builders in Mumbai to incorporate transfer of development rights (TDR) from the Dharavi redevelopment project. The directive specifies that 40% of TDR utilized in a building project must originate from the Dharavi initiative. Market observers express concerns about a potential surge in real estate prices in Mumbai when TDR from the Dharavi redevelopment project becomes accessible. ...
In the context of the Insolvency and Bankruptcy Code process, Adani group, JSW Cement (owned by Sajjan Jindal), and ArcelorMittal Group are potential buyers for Vadraj Cement, an ABG Shipyard group company. The Bombay High Court had ordered Vadraj Cement's winding up in August 2018 following a legal dispute with a trade creditor, Beumer Technology India. ...
Brigade Group has entered into a joint development agreement (JDA) with Krishna Priya Estates and Micro Labs for the development of a 14-acre land parcel in Yelahanka, Bengaluru. The project aims to create a residential housing space with a total area of approximately two million sq ft, carrying a gross development value (GDV) of Rs. 2,100 crore. ...
Paresh Parekh and Vijay Parekh, directors of Suraksha Realty, recently acquired two luxury apartments in Mumbai's Worli area for a combined sum of Rs 100 crore. These residences, situated on the top floors of Naman Xena, offer 6,458 sq ft of carpet area each on the 26th and 27th floors of the ongoing construction project. ...
Sahara Group asserts full control over its real estate assets, including Aamby Valley City near Mumbai and Pune, following the passing of founder Subrata Roy at the age of 75 in Mumbai. The group emphasizes that these assets are operating at their full potential. ...
Puravankara, a realty developer, has obtained redevelopment rights for two housing societies spanning three acres in Andheri, Mumbai, with a potential gross development value of Rs 1,500 crore. This acquisition marks Puravankara's entry into the redevelopment business in the western region. ...
Criticism arose over the BMC's swift decision to change the reservation of a 20-acre private open plot in Andheri (West) and, within three days, approve a developer's proposal for commercial exploitation under a different scheme, providing flats for project-affected persons (PAPs). The plot's ownership changed twice in three months, and the PAP project request was swiftly approved. ...
A 50-year-old developer was sentenced to three years in prison by a magistrate's court for defrauding flat purchasers in a redeveloped Byculla building, totaling nearly Rs 11 crore. The primary complainants, a mother-son duo, had paid the full amount of Rs 57 lakh for a 1,000 sq ft flat in 2012. ...
The Delhi High Court has inquired with the Delhi Development Authority (DDA) about whether the allocation of 128 properties in Delhi, based on forged recommendation letters, should be referred to the Central Bureau of Investigation (CBI). This query arises in response to a plea from Govind Saran Sharma, seeking the execution of conveyance deeds or title documents for one of the properties. ...
The enforcement wing of the town and country planning department (DTCP) has opted to levy penalties on developers for violating GRAP norms. Additionally, the department has introduced helpline numbers for residents to report offenders. DTCP has issued warnings to developers in licensed colonies, urging compliance with GRAP norms and cautioning of potential action for detected violations during inspections. ...
In the first nine months of 2023, housing rents in the top seven cities, including IT/ITeS hubs Bengaluru, Hyderabad, and Pune, rose by over 30%, as per ANAROCK Research data. Residential rentals in prominent areas of Bengaluru surged by more than 30% during the same period. ...
WeWork Inc. has declined WeWork India's offer to repurchase its 27 percent stake in the local business. However, sources indicate that discussions between the majority owner of the local unit and WeWork Inc may result in a different outcome. ...
Star Housing Finance (Star HFL), a home finance company, has received board approval for a capital raise of Rs 60 crore, pending shareholders' approval. This capital infusion aims to support the company's growth and expansion plans, as indicated in a filing with the Bombay Stock Exchange (BSE). ...
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