Maharashtra's housing department is nearing a decision on establishing an independent authority, mirroring MahaRERA, to oversee redevelopment projects. This move addresses the growing demand for a transparent and accountable framework, fueled by increasing redevelopment initiatives. The proposed authority aims to standardize processes, resolve disputes, and ensure financial facilitation, ultimately...
Dubai-based Emaar Properties has announced it will not sell stakes in its Indian entity, Emaar India. Instead, the company is exploring a potential joint venture with major Indian business houses, including the Adani Group. Emaar entered the Indian market in 2005 and later decided to end its joint venture with MGF Development in 2016. Source link...
Hero Realty, through Vikas Parks Pvt. Ltd., has acquired 8.71 acres in Mohali's Sector 99 for Rs 262.75 crore via GMADA auction, planning a new residential project. Building on the success of its Hero Homes project in Sector 88 Mohali, the company aims to strengthen its presence in the Tricity market. Source link...
Rajendra Lodha, a former director of Lodha Developers Ltd, was arrested for allegedly defrauding the company of Rs 85 crore. He misused his position through fraudulent land deals and selling company land at deflated prices. The company stated Lodha resigned on August 17, 2025, after an ethics review and maintains a zero-tolerance policy towards misconduct. Source link...
The Supreme Court is set to review petitions challenging its May verdict that prohibited retrospective environmental clearances. Numerous firms, including PSU Steel Authority of India Ltd, are seeking modifications or clarifications. The court has issued notices and scheduled a hearing for October 7, emphasizing the importance of upholding environmental protection and addressing violations. Source...
Raheja Universal has reacquired its former corporate headquarters, Raheja Centre-Point, for ₹211 crore. The five-story commercial building, originally developed by Raheja Universal in 2004, was sold to HDFC in 2020 as part of a portfolio realignment. Following HDFC's merger with HDFC Bank, Raheja Universal successfully bid to buy back the property. Source link...
NBCC India Limited seeks permission to demolish more unsafe towers at Green View housing project in Gurugram. The company already razed part of the complex deemed uninhabitable in 2022. They are awaiting DTCP approval to demolish towers A, B, C, D, EWS blocks, a school, shopping complex and an underground tank. Source link...
The Supreme Court has cautioned against the misuse of insolvency proceedings in the real estate sector by speculative investors, who prioritize profit over genuine homeownership. The court noted these investors act as a 'slow poison,' jeopardizing the interests of genuine homebuyers. Source link...
The Supreme Court proposed significant reforms to the Insolvency and Bankruptcy Code to restore faith in the regulatory framework. It urged the government to establish a revival fund for stressed real estate projects and emphasized that housing is a fundamental right. Source link...
Gurugram authorities cracked down on illegal construction in Anamika Enclave, Sector 14, demolishing and sealing 32 unauthorized flats. The buildings lacked mandatory map approval from MCG and fire safety NOCs, including essential fire escape doors. MCG officials emphasized their commitment to preventing illegal construction, highlighting the strain it places on city infrastructure and...