The NCLAT has upheld the insolvency proceedings against Supertech Realtors, developer of the Supernova project, after a plea by Bank of Maharashtra over unpaid dues. A settlement proposal by Supertech's promoter was rejected by the consortium of banks. The appellate tribunal has allowed the formation of a Committee of Creditors to proceed with the insolvency resolution process. Source link...
Kriti Sanon has invested over Rs 78.20 crore in a sea-facing luxury duplex penthouse in Mumbai's Pali Hill, securing a 6,636 sq ft space across the 14th and 15th floors of Supreme Prana. The deal, costing around Rs 1.18 lakh per square feet, is one of the most expensive properties in the city's suburbs. Source link...
A CAG audit exposed irregularities in Greater Noida Industrial Development Authority's allotment of plots. The audit highlighted policy violations between 2005 and 2018. GNIDA focused on residential development instead of industrial development. Many housing projects faced delays. Allotments were given to unqualified bidders. The audit revealed lapses in governance. Homebuyers faced project delays and...
The Enforcement Directorate searched several premises in Lucknow and Delhi. The searches relate to a money laundering investigation against Rohtas Projects Limited. The realty group allegedly duped investors of Rs 248 crore. Homebuyers filed 87 FIRs since 2021. Promoters Piyush Rastogi, Paresh Rastogi, and Deepak Rastogi are absconding. The ED aims to find evidence and attach the promoters'...
Etonhurst Capital Partners has made a significant investment in Mumbai's luxury real estate. The platform acquired 37 ready-to-move-in apartments in Worli for over Rs 500 crore. This deal marks the first inventory buyout by an institutional investor in the luxury housing market. Etonhurst plans to refurbish the apartments before putting them up for sale. Source link...
Eaton Technologies India has leased 150,000 sq ft of office space in Pune's Aditya Shagun Infinity IT Park for 10 years, with a potential rental outflow exceeding Rs 250 crore. The company plans to establish its Global Capability Center (GCC) at this location. This deal highlights India's growing prominence as a hub for GCCs, driven by talent availability and infrastructure. Source link...
Brookfield Asset Management has expanded its Mumbai real estate holdings. The company acquired another floor in Godrej BKC. This purchase occurred during Jet Airways' insolvency proceedings. Brookfield now controls three floors in the building. The deal includes management board access. This acquisition strengthens Brookfield's presence in Mumbai's Bandra-Kurla Complex. The area is a prime business...
India's DLF will invest significantly to finish ongoing housing projects in Delhi-NCR and Mumbai. The company possesses substantial cash reserves and receivables from sold properties. DLF invested in construction during the first quarter and anticipates increased spending. Recent project launches in Mumbai and Gurugram witnessed complete sell-outs. Source link...
Mumbai's Altamont Road housing society is a hot target. Three top developers are vying for its redevelopment. They are pitching offers at a luxury hotel this weekend. The developers are booking banquet halls and restaurants. This is to impress society members. Redevelopment mania is escalating in Mumbai's prime areas. Developers see this as a necessary business development exercise. Source link...
Signature Global aims for a 92% revenue surge, targeting ₹4,800 crore this fiscal year, driven by strong Gurugram residential sales. The company reported a five-fold jump in Q1 net profit to ₹34.43 crore, with revenue doubling to ₹865.66 crore. Source link...