The acquisition will add ₹241 crore to net operating income (NOI) on a proforma basis (of which 51% is attributable to Mindspace REIT), while loan-to-value (LTV) ratio will increase from 28.0% to 30.3%. Source link...
Real Estate
The CBI conducted searches at 77 locations across eight states in a builders-financial institutions nexus case. This investigation, handed over by the Supreme Court, targets builders accused of duping homebuyers through subvention schemes and an alleged nexus with banks. The searches are part of ongoing efforts to address widespread fraud in real estate projects. Source link...
The Income Tax Appellate Tribunal ruled that no capital gains tax applies when a property's sale price equals its purchase cost. The tribunal allowed a taxpayer's appeal, deleting a Rs 42.5 lakh addition by the tax department. This decision was based on the identical purchase and sale values and a similar ruling in the co-owner's case. Source link...
The National Company Law Appellate Tribunal has made a pivotal assertion regarding homebuyers’ rights in insolvency cases, stipulating that disputes must be confined to the specific project where defaults have occurred. This ruling effectively shields unrelated real estate ventures from being implicated in insolvency actions. Source link...
Maharashtra residents will soon access digitally signed online property valuation reports via a new portal linked to the IGR website. This initiative, based on prevailing Annual Statement of Rates (ASR), aims to provide indicative market values, enabling buyers and sellers to understand property costs and registration fees in advance, promoting transparency and convenience in property...
The Enforcement Directorate seized Rs 6.3 crore in cash and Rs 7.5 crore worth of jewellery from a Delhi-based real estate company, Earth Infrastructures Ltd., accused of defrauding homebuyers. The action follows multiple FIRs and a complaint from the SFIO, with funds allegedly diverted for land acquisition and routed to shell companies. Source link...
Maharashtra's Chief Minister Devendra Fadnavis has unveiled an innovative plan aimed at easing the rental market in Mumbai by introducing a system for affordable housing. A specialized digital platform will create seamless access for residents, aligning available properties with their needs. The initiative ensures that all processes are guided by strict agreements and oversight. Source link...
AstraZeneca's Indian unit is planning to sell its 64-acre manufacturing facility in North Bengaluru for an estimated ₹3,400 crore. The move is part of a global review of its manufacturing network and a broader land monetization strategy. Developers like Sattva Group, Aurobindo Pharma, and RMZ have shown interest in the prime land parcel. Source link...
Tata Consultancy Services (TCS) has secured a 20-acre land parcel in Kolkata's Bengal Silicon Valley Tech Hub for over 99 years through a lease valued at Rs 94 crore. This acquisition by the IT giant underscores its commitment to expanding its presence in eastern India and strengthening its delivery capabilities in the region. Source link...
Ground visits in Gurugram's licensed colonies reveal a significant scam where occupation certificates (OCs) were issued for incomplete buildings. Structures lacking basic safety features and plaster were declared ready under a self-certification system, raising concerns about collusion and negligence. Investigations are underway, with 1,500 OCs issued between July 2025 and March 2026 now under...