Noida Authority is recovering dues from developers of Sports City projects following High Court orders. Lotus Green Constructions paid ₹80 crore, with others expected to follow. Notices were issued to 62 developers for ₹11,000 crore in dues. The court has ordered CBI and ED investigations into irregularities, while developers have approached the Supreme Court. Source link...
Vinay Thakkar, linked to Angel One's founder, sold a luxurious Andheri West apartment for ₹52.48 crore. The 3,891 sq ft property fetched ₹1.4 lakh per sq ft, marking a high-value transaction. This deal reflects the resilience of Mumbai's luxury market, driven by demand for premium homes and infrastructure upgrades, despite high interest rates. Source link...
Auto component manufacturer Anand Automotive acquired a 1,550 square yard bungalow on Kautilya Marg in New Delhi for ₹195 crore, marking a significant property deal this year. This transaction, along with others by prominent figures like Anurag Jain and Aakash Chaudhry, highlights the surging demand for luxury properties among HNIs, driven by investment diversification and personal use...
Developers are urging the UP government to implement a rehabilitation policy for Sports City projects, similar to the one for stalled group housing, to resolve long-standing dues. They propose paying 25% of recalculated dues within 60 days and the rest over three years. Source link...
Aamir Khan has secured a five-year lease for four luxury apartments in Mumbai's Pali Hill, costing Rs 24.5 lakh monthly with a Rs 1.47 crore deposit. The agreement includes a 5% annual rent increase and a 45-month lock-in period. This move coincides with the redevelopment plans for Khan's current residence, where he owns multiple apartments. Source link...
Knowledge Realty Trust REIT secured significant funding before its IPO. It raised ₹1,620 crore from anchor investors. An additional ₹1,200 crore came via strategic allocation. The IPO opens for public subscription on August 5, 2025. 70% of the IPO is already committed. Proceeds will repay debts and for corporate purposes. Source link...
K Raheja Corp's subsidiary, KRC Queens, has acquired a 7.43-acre land parcel in Pune's Mahalunge for nearly Rs 200 crore. The deal, with a development potential of 1.7 million sq ft, highlights developers' confidence in Pune's real estate market, particularly in emerging corridors with strong residential and commercial demand. Source link...
Bengaluru has updated its building setback norms under the Revised Master Plan 2015, effective August 1st. The amendment clarifies open space requirements based on building height, especially for structures over 12 meters. It specifies setbacks for different plot sizes and building heights, including provisions for stilt parking. Source link...
Yogayatan Group has emerged as the highest bidder for the debt-laden Lavasa Corporation, increasing its bid to Rs 795 crore. This surpasses Valor Estates' previous offer, although Valor has expressed interest in upping its bid. Lenders are navigating complexities including land titles and environmental concerns in this second attempt to resolve Lavasa's insolvency after a prior plan failed. Source...
Embassy REIT reported a 15% YoY increase in NOI, reaching ₹872 crore in Q1 FY26, accompanied by a total income of ₹1,080.81 crore. The company leased two million sq ft and raised ₹4,225 crore in debt. Amit Shetty has been appointed as CEO, succeeding Ritwik Bhattacharjee. Distributions of ₹5.80 per unit were declared for the quarter. Source link...