A Mumbai developer has accused his former partner of cheating him out of Rs 11.51 crore by allegedly concealing the prior sale of 19 flats in a Bandra East slum rehabilitation project. The Economic Offences Wing has registered an FIR for cheating, forgery, and breach of trust against the accused, who is alleged to have diverted sale proceeds. Source link...
LIC is actively reviewing its vast real estate portfolio, estimated at over Rs 60,000 crore, to improve returns for policyholders and shareholders. The insurer is exploring options like a separate subsidiary for greater efficiency in managing these assets. Additionally, LIC is prepared for further stake dilution by the government, awaiting the right market conditions for subsequent public...
The Supreme Court has issued notices to the Centre, ED, RBI, and several real estate firms regarding allegations of siphoning off thousands of crores collected from homebuyers in Noida and Yamuna Expressway projects. The plea highlights a systemic issue of developers diverting funds, leading to project insolvency and buyers being left stranded. Source link...
Pune Police have registered a case against Runwal Group MD Subodh Runwal and six others following a court order concerning a land dispute in Viman Nagar. The FIR alleges forged documents and illegal transfer of rights over a 3.93-hectare land parcel, stemming from a joint venture agreement. Source link...
The Municipal Corporation of Delhi has eased building regularisation for residential properties up to 105 square metres. Owners now submit an architect-certified undertaking online instead of requiring a physical inspection. This aims to streamline approvals, cut delays, and boost civic revenue, making services more accessible for citizens. Source link...
Construction costs have surged over 25 percent due to global conflicts. Supply chain issues, labor shortages, and rising material prices are impacting builders. Executives note challenges in material availability, stressing project timelines. The organized sector is better equipped to handle these pressures. Developers are seeking RERA timeline relief. Technology adoption is being explored to mitigate...
The Income Tax Appellate Tribunal ruled that adding a spouse's name to property for convenience doesn't automatically make them liable for entire sale proceeds. The tribunal directed tax officers to verify if the husband was the sole funder and owner, and if capital gains were already taxed in his return, offering relief to a Mumbai taxpayer. Source link...
India’s five listed REITs distributed over ₹2,566 crore to more than 4.25 lakh unitholders in Q4 FY26. For FY26, cumulative distributions stood at over ₹8,900 crore, while the sector’s gross asset value crossed ₹2.72 lakh crore. Source link...
Knowledge Realty Trust (KRT) plans to invest Rs 700 crore over three years to develop 1.4 million sq ft of office space in Bengaluru. The REIT, sponsored by Sattva Group and Blackstone, is also seeking acquisitions for inorganic growth. KRT anticipates continued strong performance in FY27, driven by demand from Global Capability Centres. Source link...
The Enforcement Directorate has arrested real estate businessman Ajay Sehgal in a money laundering probe linked to alleged fake consent letters for Punjab government's Change of Land Use (CLU). Sehgal, Secretary of ICHBS, is accused of forging signatures for the Suntec City project and other developments, with sales exceeding Rs 200 crore. Investigations into other officials are ongoing. Source...