India’s office market recorded gross leasing of about 24.6 million sq ft in Q2 2026, the highest quarterly absorption on record, according to CBRE. New completions stood at about 21 million sq ft during the quarter, while GCCs accounted for 42% of total office space take-up. Source link...
Insolvency tribunal NCLT has greenlit Parmesh Construction Company's acquisition of a 4.26% stake in Entertainment City, dismissing Unitech Holding's objections. The tribunal ruled that the share transfer by minority investors was valid, despite Unitech's claims of violated shareholder agreements. This decision stems from a broader 100% disinvestment process for Entertainment City, where...
A Vile Parle builder, Kalpesh Kanubhai Shah, has been arrested for his alleged involvement in a massive land-grabbing scam. The fraud reportedly used forged powers of attorney and fake bank accounts to illegally acquire possession of a prime Dahisar land parcel. The scheme came to light after the Bombay High Court flagged discrepancies in property documents. Shah is in police custody as the...
Haryana RERA’s Gurugram bench has directed BPTP to refund ₹1.16 lakh collected as maintenance charges before handing over possession of a unit in Park Spacio, Sector 37D, Gurugram. The authority also awarded ₹1 lakh as compensation and ₹50,000 as litigation cost. Source link...
Signature Global is evaluating opportunities in the senior living segment as part of its long-term growth strategy, though no decision has been finalised. India’s senior living market is currently estimated at $1-2 billion and may attract investments of $4.8-8.4 billion by 2030, according to Savills India. Source link...
Nisus Finance has invested ₹70 crore through its ₹1,700 crore Real Estate Special Opportunities Fund I in three residential projects being developed by Sumukha Housing in Bengaluru. The projects have a total gross development value of about ₹300 crore. Source link...
Godrej Properties has emerged as the highest bidder for a 4.95-acre residential land parcel in Sector 151, Noida, for ₹331.75 crore. The proposed residential project is expected to have revenue potential of over ₹2,000 crore. Source link...
Maharashtra housing societies can now hold annual meetings online, and interest on maintenance arrears is capped at 12% annually. New rules, notified Tuesday, provide a dedicated legal framework for societies, covering registration, membership, redevelopment, and financial management. These reforms aim to streamline operations and enhance governance, with model bylaws expected soon to ensure uniformity...
A builder has informed Delhi RERA that it has abandoned a commercial project at Central Square Complex after over 30 years, citing a lack of sanctioned building plans. Purearth Infrastructure Ltd, a joint venture, is now offering refunds with interest to buyers who have been waiting for their promised units. This comes after years of delays and ongoing litigation, leaving customers in shock. Source...
India's bankruptcy watchdog is proposing significant reforms to expedite real estate insolvency. Key changes include excluding completed or unaffected housing projects with creditor approval and mandating project-wise cash flow management. The aim is to prioritize project completion, enhance transparency for homebuyers, and ensure accountability, with stakeholders invited to provide feedback by...