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Bengalurus real estate market is experiencing a shift as homebuyers increasingly look to the citys outskirts for affordable housing options. With prices in central and established areas remaining high, many new residential developments are emerging on the periphery. While some buyers express concerns about the trade-offs between affordability and accessibility, the expansion of metro connectivity is expected to improve accessibility to these areas. Experts suggest that real estate prices are unlikely to decrease in the near future and may remain stagnant over the next few years. ...
In Bengaluru, a builder allegedly defrauded over 32 tenants by leasing flats that had already been sold or were under mortgage. One victim, Padma, leased Flats No. 305 and 405 at Sri Sai Balaji Meadows in Kodigehalli in November 2023, paying ?Rs 26 lakh in various forms. In January 2024, another individual, Sai Prashant, presented registered sale deeds for the same flats, dated September 13, 2021. Further investigation revealed that these flats were mortgaged with Indian Overseas Bank, which was preparing to confiscate them due to loan default. Authorities suspect the builder employed this scheme to lease multiple properties, collecting substantial amounts from each tenant. ...
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has dismissed 12 employees over integrity concerns, including junior engineers, computer operators, and support staff. This action follows an anti-corruption team's recent arrest of a UP-RERA accountant accepting a bribe from a homebuyer. Chairman Sanjay Bhoosreddy emphasized the authoritys zero-tolerance policy towards misconduct, noting that all staff must submit integrity affidavits. To enhance transparency, UP-RERA has installed CCTV cameras throughout its offices and monitors employee and visitor movements. The authority also provides continuous training to improve staff discipline and performance. Additionally, a reference has been sent to the Uttar Pradesh Bar Council for action under the Advocates Act, 1961, in one case. ...
The Telangana High Court has restrained GHMC and revenue officials from interfering with a property in Banjara Hills, Hyderabad, following a plea by the property owner. The petitioner claimed officials were attempting to dispossess them without due process. The court emphasized that no coercive action should be taken without proper legal procedure and documentation. It directed authorities to maintain the status quo until further notice. The case highlights concerns over unauthorized attempts by civic officials to seize properties. The matter will be heard further as the court examines the legality of the officials actions and the petitioners ownership claims. ...
The Supreme Court will hear the long-pending Amrapali Group case in July 2025, following the retirement of Justice Bela M. Trivedi. A new bench, led by Justice Satish Chandra Sharma, will address unresolved issues including fund recovery from former promoters, as highlighted in the 2019 verdict. Homebuyers’ counsel M.L. Lahoty and senior advocate Gopal Sankaranarayanan emphasized the need for continued legal oversight. The NBCC has completed around 25,000 flats, but challenges remain in dues collection and registration. The court has sought compliance reports from NBCC, Noida, and Greater Noida to expedite resolution after nearly eight years of proceedings. ...
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has introduced new guidelines to expedite the hearing of certain complaints, deviating from its standard chronological order. Implemented via a circular issued earlier this month, the guidelines identify seven specific grounds for prioritization, including life-threatening illnesses (with a specialist's certificate), requests for review or rectification of existing orders, non-compliance with prior orders, and cases directed by higher courts for time-bound disposal. Other eligible cases encompass mutually settled complaints, withdrawal requests, disputes over complaint maintainability, and multiple petitions on the same project, where the first petition's seniority prevails. MahaRERA emphasizes the need for appropriate documentation to justify exceptional circumstances, with the chairman retaining discretion over out-of-turn hearings. These measures aim to provide timely relief to stakeholders facing extraordinary hardships while maintaining fairness and administrative efficiency. ...
The Odisha Real Estate Regulatory Authority (ORERA) is on the verge of a complete shutdown as its two remaining members are set to retire in May 2025. Member (Admin) Pradeep Kumar Biswal will retire on May 2, and Acting Chairperson Gopal Chandra Patnaik on May 9. With the earlier departure of Chairperson Siddhanta Das in February, ORERA will lack the mandatory three-member bench required for hearings, halting its operations. Although the government initiated recruitment processes, only advertisements for member positions have been published, and no appointments have been made yet. Homebuyers are already facing difficulties, as ORERA has not been accepting complaints for the past two months. Stakeholders urge immediate government intervention to prevent a regulatory vacuum in Odisha's real estate sector. ...
The Uttar Pradesh government has announced a Rs 40,000 crore initiative to transform 57 municipalities into smart cities, aiming to enhance urban living and infrastructure. With Rs 145 crore already sanctioned, the project will introduce digital governance, AI-driven civic services, and integrated surveillance systems. Features include smart parking, digital traffic management, uninterrupted utilities, and pollution control measures. The plan also encompasses CC roads, redesigned junctions, digital libraries, and exhibition centers. Chief Minister Yogi Adityanath emphasized that this development will promote inclusive growth, boost local economies, and position Uttar Pradesh as a model for urban transformation. ...
The Nagpur bench of the Bombay High Court has quashed a Goods and Services Tax (GST) demand against Shrinivasa Realcon, a real estate developer in Maharashtra. The GST demand stemmed from a development agreement dated April 7, 2022, for constructing a residential complex on an 8,000 sq ft plot in Mouza Lendra. The developer was appointed by the landowner for a consideration of Rs 7 crore and two flats. The court ruled that the agreement did not involve the transfer or purchase of Transferable Development Rights (TDR) or Floor Space Index (FSI) from external sources, thus falling outside the taxable scope under Entry 5B of the GST notification dated June 28, 2017, amended on March 29, 2019. The court emphasized that the GST law lacks a definition for 'transfer of development right' and found no reference to such a transfer in the development agreement. Consequently, the court quashed both the show-cause notice and the final GST order issued to the developer. ...
The Delhi government's Home Department has clarified that the responsibility for preventing illegal construction lies with local civic bodies and land-owning agencies, not the Delhi Police. Police are only required to assist during enforcement actions. This advisory follows a tragic building collapse in Mustafabad that killed 11 people, highlighting the dangers of unauthorized construction. The government aims to streamline enforcement and eliminate confusion over roles. Over 55,000 illegal constructions have been identified in recent years, but enforcement remains weak. The advisory urges better accountability, with civic officials facing possible action if they fail to control unauthorized construction in their areas. ...
Sumadhura Group is investing Rs 250 crore to develop a new residential project, 'Codename Uru,' in Kenchanhalli, South Bengaluru. The 3.25-acre development will comprise 297 2BHK and 3BHK apartments across two 28-storey towers, with an estimated revenue of Rs 500 crore. Scheduled for completion by December 2029, the project aims to blend modern urban living with Karnataka's cultural heritage. This marks Sumadhura's expansion into South Bengaluru, complementing its existing portfolio of 54 projects and a pipeline of up to 40 million sq ft across residential, commercial, and warehousing sectors. ...
The Yamuna Expressway Industrial Development Authority (YEIDA) plans to acquire 13,300 acres near Noida International Airport, spanning 36 villages in Gautam Budh Nagar and five in Aligarh. With a ?5,000 crore budget, YEIDA aims to purchase land directly from willing farmers to develop infrastructure, including roads, parks, and a 250-acre logistics hub projected to create 10,000 jobs. To gain farmers' support, YEIDA is enhancing village amenities like roads, drainage, and healthcare. This initiative is part of broader efforts to attract domestic and international investors to the region ...
The Karnataka Real Estate Regulatory Authority (KRERA) has ordered Mantri Developers to refund Rs 2.5 crore to homebuyer Anant Ramachandran for failing to deliver an apartment at Mantri Webcity in Hennur, Bengaluru. Despite a 2017 possession deadline, the apartment remains undelivered. Ramachandran had paid Rs 15 lakh upfront and secured a Rs 65 lakh loan under a pre-EMI scheme, with the developer responsible for EMIs until March 2017. However, Mantri defaulted on payments, leaving the buyer to cover EMIs. KRERA also directed the developer to close the outstanding home loan, citing prolonged delays and financial burden on the buyer. ...
The Yamuna Expressway Industrial Development Authority (YEIDA) has launched a residential plot scheme in Sector 18, Pocket 9B, offering 276 plots of 200 sqm each. Applications are open until May 21, with a draw scheduled for July 11. Of the total plots, 214 are under the general category, while 17.5% are reserved for farmers and 5% for industry-linked applicants. The revised land rate is Rs 35,000 per sqm, requiring a Rs 7 lakh registration fee (10% of the total cost). Allottees must complete construction within three years of the lease deed or face extension charges. YEIDA plans to launch additional schemes for group housing, commercial, industrial, and hotel plots in the coming days ...
MSN Group, a major pharmaceutical firm, has entered the real estate sector with plans to develop 20 million sq ft of residential and commercial space in Hyderabad over five years. Operating under the new entity MSN Realty, the company will focus on areas like Neopolis, Manchirevula, Tellapur, Patancheru, and Isnapur. The inaugural project, "One by MSN," is a 7.7-acre development in Neopolis featuring five towers up to 55 floors. MSN has a land bank of 100–150 acres and aims to deliver high-quality, timely projects without joint ventures. This diversification leverages the group's $1 billion revenue base to expand beyond pharmaceuticals. ...
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