Adani Properties has emerged as the highest bidder for MHADA’s cluster redevelopment projects at Adarsh Nagar in Worli and Bandra Reclamation, while a consortium comprising Hanura Realty, Chandak Realtors, Premsagar Infra Realty and Vantier Realty has emerged as the highest bidder for the S.V.P. Nagar project in Andheri West. Source link...
The ED has arrested real estate businessman Vikram Wadhwa, the third arrest in a money laundering probe involving Rs 645 crore embezzled from Haryana government, Chandigarh administration, and two schools. Wadhwa allegedly received over Rs 70 crore in crime proceeds and played a key role in layering and concealing laundered funds. Source link...
Supreme Housing promoters have a final opportunity to settle their debt with Canara Bank. The National Company Law Appellate Tribunal has ordered a deposit of ₹460 crore by June 13. This is the third chance for the company to resolve its financial obligations. Failure to meet this deadline will allow the insolvency process to proceed. Source link...
Airbnb Global Capability Center has leased 46,437 sq ft office space in DLF Cyber City, Gurugram, from DLF Cyber City Developers for a five-year term, according to lease documents accessed through Propstack. The company will pay a monthly rent of about Rs 61.53 lakh for the office space. Source link...
Satinder Singh Bhasin, promoter of a Noida realty firm, has been arrested by the Enforcement Directorate. The arrest is in connection with a money laundering case. This case involves allegations of duping home buyers. Bhasin was taken into custody on Friday. He was sent to ED custody until June 6. The Supreme Court had directed the ED to arrest him. Source link...
The Enforcement Directorate has attached assets worth Rs 634 crore belonging to Unitech Group's Noida project. This action is part of a money laundering investigation. The probe is linked to alleged fraud involving homebuyers' funds. The attached properties include land and equity. This development follows earlier attachments and chargesheets filed by the agency. Source link...
Hyderabad's Raidurg witnessed a record-breaking land auction as one acre fetched Rs 237 crore, significantly surpassing previous benchmarks. Gowra Ventures Pvt Ltd secured the 6.29-acre parcel for IT and mixed development. This phenomenal price, 70% over the reserve, underscores investor confidence in Telangana's burgeoning economic landscape and Hyderabad's prime real estate...
A Mumbai developer has accused his former partner of cheating him out of Rs 11.51 crore by allegedly concealing the prior sale of 19 flats in a Bandra East slum rehabilitation project. The Economic Offences Wing has registered an FIR for cheating, forgery, and breach of trust against the accused, who is alleged to have diverted sale proceeds. Source link...
LIC is actively reviewing its vast real estate portfolio, estimated at over Rs 60,000 crore, to improve returns for policyholders and shareholders. The insurer is exploring options like a separate subsidiary for greater efficiency in managing these assets. Additionally, LIC is prepared for further stake dilution by the government, awaiting the right market conditions for subsequent public...
The Supreme Court has issued notices to the Centre, ED, RBI, and several real estate firms regarding allegations of siphoning off thousands of crores collected from homebuyers in Noida and Yamuna Expressway projects. The plea highlights a systemic issue of developers diverting funds, leading to project insolvency and buyers being left stranded. Source link...