GNIDA has conditionally approved Gaursons Group's proposal to mortgage part of Gaur City Mall to secure farmer compensation dues. This move aims to enable the execution of approximately 2,100 pending sub-lease deeds across three housing projects, offering relief to residents awaiting legal ownership. An independent valuation will assess the mall's security value before registries can proceed. Source...
The Enforcement Directorate (ED) has arrested Sandu Purnachandra Rao, a former director at Sahiti Infratec Ventures, for allegedly defrauding homebuyers of ₹360 crore. Rao is accused of collecting over ₹800 crore through illegally launched projects and misappropriating ₹126 crore. He was remanded to 15-day judicial custody, joining B. Lakshminarayan, who was previously arrested in connection with...
The Enforcement Directorate (ED) searched real estate company BPTP's Delhi-NCR locations concerning a Rs 500 crore foreign exchange violation. The ED is also probing multiple FIRs against the company and its directors, with BPTP extending full cooperation and asserting compliance with all laws. Source link...
Amit Ashok Thepade, director of a Pune-based real estate firm, was arrested from a Mumbai hotel in connection with a Rs 117.06 crore bank loan fraud involving Canara Bank. The Enforcement Directorate (ED) seized Rs 9.5 lakh in cash and jewellery worth Rs 2.3 crore. Source link...
A Gurugram-based realty group, Krrish Realtech, defrauded home buyers. The group collected over Rs 500 crore for housing plots. However, they diverted Rs 205 crore to a Sri Lanka hotel project. The Enforcement Directorate (ED) is investigating Amit Katyal and others. Katyal is already arrested in another case. The ED filed a chargesheet and the court issued a notice. Source link...
India's listed real estate companies witnessed robust sales, reaching nearly Rs 53,000 crore in the April-June quarter, driven by strong residential demand. Prestige Estates led with the highest sales bookings, followed by DLF and Godrej Properties. These top five developers contributed significantly to the total sales, indicating a concentrated market benefiting from increased homebuyer...
Microsoft India (R&D) has leased 264,000 sq ft in Hyderabad's financial district from Table Space Technologies, commencing July 2025. The five-year lease at Phoenix Centaurus involves a monthly rent of ₹1.77 crore, escalating annually by 4.8%. This expansion highlights Hyderabad's appeal to large tech companies due to its talent pool and infrastructure. Source link...
The NCLAT has upheld the acquisition of Vadraj Cement by Nuvoco Vistas, dismissing a plea challenging the resolution plan. The tribunal affirmed the NCLT's approval of Nuvoco's bid, which includes an upfront payment of Rs 1,800 crore. Source link...
Enforcement Directorate has initiated 22 cases. This action investigates the alleged nexus between builders and banks. The focus is on cheating homebuyers in the National Capital Region. These cases stem from CBI FIRs. The FIRs were filed following Supreme Court directives. The investigation aims to uncover fraud and money laundering. It also seeks to recover illicit assets. Source link...
Microchip Technology, through its Indian arm, has acquired 1.72 lakh sq ft of office space in Whitefield, Bengaluru, for ₹176 crore. The purchase from Ascendum Solution India includes two commercial blocks in the EPIP Zone. This significant transaction, valued at ₹10,230 per sq ft, marks one of the largest office space buyouts in the city this quarter. Source link...