Essel Group chairman Subhash Chandra is selling a prime bungalow in Lutyens' Delhi for ₹1,260 crore. This deal is one of the most expensive property transactions in India. The property was bought in 2015 for ₹304 crore. Deal formalities are expected to conclude by December 30, 2026. Other high-value deals are also underway in the exclusive Lutyens' Bungalow Zone. Source link...
The Enforcement Directorate conducted searches across Maharashtra and Delhi in a money laundering probe linked to alleged irregularities in a corporate insolvency resolution process. The investigation targets Suraksha Asset Reconstruction Company, Suraksha Realty, Khyati Realtors, their associates, and a former YES Bank employee, focusing on fraudulent loan grants and asset takeovers. Source link...
The Enforcement Directorate has attached fresh assets worth approximately Rs 503 crore in a money-laundering probe against Raheja Developers and its promoter, Navin M Raheja. This action is part of an investigation into alleged fraud against homebuyers, with the agency claiming substantial funds were diverted. The total value of attached assets now stands at around Rs 1,617.29 crore. Source link...
The Supreme Court has agreed to hear a plea demanding a scheme where builders and lenders share equal loss if subvention plan flats aren't delivered. This comes after a homebuyer alleged being forced to pay EMIs for a non-delivered flat. The court also sought a structured debt-relief plan for stalled projects. Source link...
The response came after a Division Bench of Justices R I Chagla and Farhan P Dubash recorded SEBI's statement that it was examining representations submitted by petitioner Chayan Upadhyay regarding whether Respondent including Embassy Property Developments Pvt Ltd, its Directors satisfy the "fit and proper person" criteria under the SEBI (Real Estate Investment Trusts) Regulations, 2014,...
An NGO has petitioned the state government to cancel approvals for a residential project in Perumbakkam. Arappor Iyakkam alleges the site is within the protected Pallikaranai marshland. The NGO states construction violates wetland rules and a Supreme Court order. They demand immediate stoppage of work and action against officials who granted permissions. Source link...
Casagrand Premier Builder has received approval from Sebi to launch its initial public offering. The company plans to raise Rs 1,220 crore through this IPO. Funds will be used for debt repayment and general corporate purposes. The real estate firm is a prominent developer in Chennai and other cities. The shares will be listed on BSE and NSE. Source link...
MMR, Pune and Bengaluru together account for about 70% of the homes scheduled for completion in 2026. Anarock said a prolonged Middle East conflict could add pressure on delivery timelines through higher logistics costs and construction material inflation. Source link...
Maharashtra will introduce separate Ready Reckoner (RR) rates for high-rises and slum clusters within the same locality following a statewide micro-zoning exercise. This move aims to make property valuations more realistic and equitable, providing relief to middle-class homebuyers and slumdwellers. The revised RR framework is expected to be implemented from the next financial year. Source link...
A Reliance-led consortium has secured the bid for the massive Juhu Galli slum redevelopment in Mumbai. This project will build over 28,000 homes for residents. The Maharashtra government's cluster redevelopment policy guides this initiative. The developer must provide significant financial support for resident transit accommodation. This marks a major step in large-scale slum redevelopment in the...