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The Department of Town and Country Planning (DTCP) has issued show-cause notices to 45 residential properties in South City 2 for property misuse and violations of the Haryana Urban Development Act, 1975. After a recent survey, the DTCP enforcement team found these properties to be in violation of regulations. Property owners have been given seven days to respond to the notices, or they could face actions such as restoration orders and cancellation of occupation certificates. ...
Experion Development has successfully acquired a six-acre land parcel in Gurugram's Sector 53, valued at approximately ?400 crore, through an auction organized by the Haryana Shahari Vikas Pradhikaran (HSVP), the state's urban development authority. Additionally, the HSVP auctioned a two-acre plot in Sector 56 for ?120 crore to TREVOC (The Real Estate Venture of Chawlas), one of the three promoters in the Spaze group. ...
Another lawsuit has been filed against Godrej Properties regarding the Rs227 crore real estate deal from last year, involving a 58-acre land parcel near the Besa area of the city. Following a case citing provisions of Muslim personal law, this second suit challenges the deal on the grounds of the Mental Health Act, which safeguards the interests of mentally challenged individuals. ...
Centrum Capital, the financial services company led by Jaspal Bindra, is considering the possible sale of its stake in its mortgage financing business, Centrum Housing Finance, as reported by two informed sources. The Mumbai-based Centrum group currently holds a 74% stake in Centrum Housing Finance, with private equity investor Morgan Stanley PE Asia holding approximately 25%, following a ?190 crore investment in the business in 2020. ...
The legal dispute surrounding Mehta Mahal, referred to by the Bombay High Court as one of the most contested properties in south Mumbai, may determine whether local body guidelines can ever establish enforceable rights in favor of private individuals. This 56-year-old commercial building on Mathew Road, a narrow lane leading from Charni Road to the rear of Opera House, is once again in court, this time over a 2021 report by an expert panel appointed by the BMC concerning its structural stability. ...
Developers and residential plot owners are reiterating their demand for the state to implement its policy, which allows for the construction of four floors before Diwali, in order to provide relief to property owners and homebuyers. It has been eight months since the government put approvals for new four-floor building plans in residential areas on hold, following protests by residents who claimed that these "builder floors" were straining resources and infrastructure in already densely populated colonies. ...
Following a tragic blaze in a residential building in Goregaon, Mumbai, resulting in the loss of seven lives and injuries to 62 individuals, including two minors, Maharashtra Chief Minister Eknath Shinde has instructed officials to conduct fire audits for all Slum Rehabilitation Authority buildings. The fire occurred in the Jay Bhavani SRA building, leaving five people in critical condition out of the 62 injured. ...
The Ahmedabad Urban Development Authority (Auda) plans to auction two plots in Chandkheda town planning scheme 44, even though it has not officially taken possession of one of the plots, which still belongs to private landowners. These plots were included in the TP scheme and designated for commercial sale by Auda. ...
Haryana Chief Minister Manohar Lal Khattar announced the immediate regularization of 303 unauthorized colonies across 14 districts, allocating Rs 3,000 crore for comprehensive infrastructure development within these colonies. Among these colonies, 193 fall under 39 municipalities, and 110 are under the jurisdiction of the Town and Country Planning Department. ...
Experion Developers recently acquired a six-acre land parcel in Gurgaon's Sector 53, valued at approximately Rs 400 crore, through an auction conducted by the Haryana Shahari Vikas Pradhikaran (HSVP), the state's urban development authority. Additionally, a two-acre plot in Sector 56 was auctioned to TREVOC (The Real Estate Venture of Chawlas) for Rs 120 crore. TREVOC is one of the three promoters associated with the Spaze group. ...
Macrotech Developers has reported a 12 percent year-on-year increase in sales bookings, totaling Rs 3,530 crore during the July-September period, driven by robust demand in the housing sector. In the same period of the previous fiscal year, the company had recorded sales bookings of Rs 3,150 crore. ...
The Enforcement Directorate (ED) has provisionally attached properties valued at Rs 17.92 crore belonging to M/s Shine City Properties Ltd under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. These attached properties consist of 47 parcels of land measuring 10.27 hectares located in Rajatalab Tehsil of Varanasi. ...
In an effort to combat illegal colonies and unauthorized commercial activities, the enforcement team of the Department of Town and Country Planning (DTCP) has demolished five illegal colonies that had sprung up in a no-construction zone near Sultanpur Sanctuary. Additionally, the department has sealed 28 major commercial stores that were operating illegally in Sushant Lok 2. ...
SMFG India Credit Company, a subsidiary of the Japanese conglomerate Sumitomo Mitsui Financial Group (SMFG), and Singapore's Fullerton Financial Holdings (FFH) have signed a lease agreement for 194,000 square feet of space at Embassy 247 in Vikhroli, Mumbai. Cushman & Wakefield played a role in facilitating this transaction for SMFG. ...
While more than 20,000 homebuyers await the delivery of their homes due to the insolvency of Jaypee townships in Noida and Greater Noida, these land parcels have attracted various developers. In the past year, companies like Max, L&T, Gaurs, Saya, Paras, and Gulshan have purchased land worth Rs 3,000 crore and initiated projects with a revenue potential exceeding Rs 10,000 crore. ...
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