Haryana's DTCP has initiated action against Golden Glow Estates for a group housing project in Sector 68, Gurugram, whose development licence lapsed eight years ago. Over Rs 51.8 crore in external development charges remain pending. The developer faces proceedings for violating licence conditions and failing to submit mandatory documents. Source link...
A significant property deal is underway in New Delhi. Maharaja Manujendra Shah of Tehri Garhwal is selling his 3.2-acre Bhagwan Das Road bungalow for around ₹1,000 crore. The buyer is a local entrepreneur from the food and beverage sector. This businessman is also set to acquire Jawaharlal Nehru's former residence for over ₹1,100 crore. Both are high-value assets. Source link...
UBS India has secured an entire commercial building in Pune's Yerwada. The lease agreement with Smartworks Coworking Spaces is valued at over Rs 263 crore. This deal covers a 165,290 sq ft managed office facility. It highlights a growing trend of large companies opting for flexible workspaces. Source link...
Pristine Landmark Spaces LLP has made waves by securing a prime 4.2-acre site in Pune's Vadgaon Sheri for a hefty Rs 250 crore. The land was sold by the Kumar City Co-operative Housing Society Ltd. and Kumar Urban Development Private Ltd., marking a noteworthy trend in Vadgaon Sheri's real estate landscape. Source link...
Over 300 families in Gurgaon's Ansal Heights have appealed to DTCP, Haryana, after living in their homes for nearly a decade without a mandatory occupancy certificate. The developer promised the OC within six months of fit-out possession in 2015, but residents now face legal vulnerability and safety concerns due to the prolonged delay. Source link...
Delhi's court has instructed the local police to investigate allegations against those behind the 32nd Milestone project. Investors are claiming they've been defrauded, citing issues like fund misallocation and financial discrepancies. The complaint not only seeks the registration of a formal FIR but also calls for asset freezes and a forensic investigation into the matter. Source link...
A Gurgaon real estate developer faces insolvency proceedings. The National Company Law Tribunal admitted the case after a default of Rs 274 crore. IDBI Trusteeship Services filed the application on behalf of debenture holders. The developer argued the default claim was premature as the redemption date was extended. The court has appointed an interim resolution professional to manage the...
Standard Chartered Bank has sold a commercial property in Mumbai's Bandra Kurla Complex. Advanced Realty acquired the office space for Rs 197 crore. The transaction highlights a trend of corporates rebalancing their real estate portfolios. This move allows for capital unlocking and a shift towards asset-light strategies. BKC remains a prime office location. Source link...
The Supreme Court has underscored that renting a residential flat does not disqualify buyers from being considered consumers. Builders are now obligated to demonstrate that a property was acquired with commercial intentions to negate consumer rights. Source link...
The Supreme Court has directed NBCC to swiftly complete 16 Supertech housing projects. Financial and operational creditors will have their dues addressed after project completion. Tribunals and high courts are restrained from hindering this crucial work. Source link...