RERA officials have asked developers to avoid misleading advertisements and ensure compliance with regulatory provisions, including agreement for sale and disclosure norms. They also flagged issues such as assured returns and super area-based selling. Source link...
A Bombay High Court-appointed committee has warned that lakhs of Mumbai residents live in structurally unsafe cessed buildings due to redevelopment delays and a severe shortage of transit housing. The panel's report highlights prolonged legal disputes and stalled proposals, with many buildings on the verge of collapse, posing a significant risk to tenants. Source link...
The Central Bureau of Investigation has submitted a detailed chargesheet against AVJ Developers and several of their affiliates, bringing to light the involvement of bank officials and unscrupulous homebuyers. The case centers on extensive fraud perpetrated against both home purchasers and financial institutions, with builders reportedly using misleading promises and trickery. Source link...
Mindspace REIT has raised ₹500 crore through a 10-year non-convertible debenture issuance, fully subscribed by a domestic insurer. The proceeds will be used to refinance existing debt. The move is aimed at extending debt maturity and locking in fixed interest costs. Source link...
The Mumbai ITAT ruled that purchasing property from relatives is not a sham transaction solely for tax benefits. The tribunal allowed a Rs 41.5 crore exemption under Section 54F, stating that genuine intra-family deals, backed by documentation, cannot be disregarded based on suspicion of tax avoidance. Source link...
Uttar Pradesh’s real estate sector has maintained growth momentum in 2026, with higher project registrations, investments and proposed units compared to the same period last year, according to UP-RERA data, following a steady rise across key indicators in 2023–2025. Source link...
Haryana's Vigilance Bureau is nearing the end of a major probe into approximately 2,600 illegal colonies. Officials from urban local bodies, town planning, and revenue departments face potential action for alleged collusion with developers. The investigation, mandated by the Punjab and Haryana High Court, aims to identify complicit government employees and could lead to large-scale...
Godrej Properties announced a significant 32.49 percent jump in its net profit for the financial year 2025-26. The company's profit after tax reached ₹1,840.66 crore. Total income also saw a healthy increase of 20.72 percent. Strong business development additions and record operating cash flow are highlighted. The company plans further growth in the upcoming fiscal year. Source link...
Mumbai's slums are growing upwards, with shanties transforming into illegal multi-storey structures that defy height restrictions. This unchecked vertical expansion places an immense strain on the city's aging water, sewage, and sanitation systems, leading to potential infrastructure collapse and water shortages. Despite official awareness and promises of action, enforcement remains a...
The company entered corporate insolvency resolution process (CIRP) in July 2023 on a plea by Beacon Trusteeship Ltd. It has two secured creditors-Beacon Trusteeship with Rs 902 crore and 60.54% committee of creditors share, and Assets Care and Reconstruction Enterprise Ltd with Rs 589 crore and a 39.46% share. Source link...