Mindspace Business Parks REIT has bought a large office property in Chennai for approximately ₹2,541 crore. This acquisition significantly boosts its presence in South India. The deal includes existing office space and new development expected by March 2027. This move increases Chennai's share in Mindspace REIT's overall portfolio. The transaction was completed under a special arrangement...
Finance Minister Nirmala Sitharaman announced that land authorities can now join Committee of Creditors meetings to expedite bankruptcy resolutions for real estate projects. The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, passed by Rajya Sabha, aims to speed up case admission and resolution plan approval, benefiting thousands of homebuyers. Source link...
Tata Realty and Infrastructure Ltd (TRIL) has acquired over 38 acres in Bengaluru for approximately Rs 2,300 crore, marking the city's largest land transaction. This significant deal underscores investor confidence in Bengaluru's office market and TRIL's strategy to expand its commercial portfolio with high-quality, large-scale developments. Source link...
Haryana's collector rates have undergone fresh revisions, drawing insights from detailed property registry analyses. Rates for many real estate segments held steady, with only specific categories reflecting increases predicated on transaction value discrepancies. This strategic adjustment aims to enhance transparency and promote equitable property dealings in the region. Source link...
The Insolvency and Bankruptcy Board of India (IBBI) has suspended insolvency professional Hitesh Goel for two years due to multiple lapses in handling Supertech Ltd and Nobility Estates insolvency proceedings. Goel failed to disclose key details in the Information Memorandum and delayed crucial meetings and filings, impacting thousands of homebuyers. Source link...
Avante Spaces, Kirloskar Industries' real estate arm, secured a Rs 1,150 crore term loan from ICICI Bank for a Grade A commercial development in Pune's Kothrud. This financing, structured over 44 months at 8% interest, underscores lender confidence in established urban locations and well-backed projects. Source link...
The Enforcement Directorate has confiscated properties worth over 270 crore rupees in connection to a high-profile money laundering case. Ex-Lodha Developers director, Rajendra Lodha, who was taken into custody earlier this year, stands accused of manipulating company resources through dubious land deals and unauthorized asset sales. Source link...
Fair Exports (India) Pvt Ltd, a subsidiary of Lulu Group International, has acquired a bungalow in Delhi's Sunder Nagar for Rs 89.5 crore. The transaction, which saw the firm pay Rs 6.26 crore in stamp duty, highlights Sunder Nagar's growing appeal to high-net-worth individuals seeking prime residential properties in Lutyens' Delhi. Source link...
The Bombay High Court ruled that the Prevention of Money Laundering Act (PMLA) takes precedence over bank recovery laws like SARFAESI and RDB Act. This decision clarifies that banks cannot automatically claim priority over properties attached by the Enforcement Directorate as proceeds of crime, reinforcing the state's authority to confiscate illicit assets. Source link...
Facebook India Online Services, a Meta Platforms Inc. subsidiary, has renewed its office lease at Mumbai's One BKC. The company will pay over Rs 200 crore in rent for the next five years. This renewal highlights the continued demand for prime office spaces in Bandra-Kurla Complex. Established companies are choosing to keep their premium locations. Source link...