Prime minister Narendra Modi launched development projects valued at approximately ₹33,500 crore in Delhi. These initiatives encompass metro expansion, government housing redevelopment, and urban infrastructure enhancements. Newly constructed government flats and office spaces were inaugurated. Foundation stones were laid for more GPRA flats and commercial office towers. Source link...
The Enforcement Directorate has recently frozen assets worth upwards of Rs 200 crore belonging to TDI Infrastructure Limited amidst allegations of money laundering. This investigation stems from charges of deception against homebuyers, with reports highlighting the company's long-standing failure to provide the flats and units they were promised. Source link...
Maharashtra government may revise ready reckoner (RR) rates by over 5% from April due to mounting fiscal pressure and a rising debt burden. Officials indicated a revision is imminent, with the final decision pending on funding needs for infrastructure and welfare schemes. Despite developers urging against a hike, citing market stability, the state faces a significant revenue deficit. Source link...
The Supreme Court has directed the CBI to conduct an inquiry into issues related to the ‘The Primus’ housing project in New Gurgaon, with findings to be submitted by April 25, 2026. Source link...
Embassy Office Parks REIT has bought a Bengaluru office property for ₹852 crore. The deal involved acquiring Eleanor Realty Holdings India, which owns the Pinehurst building. This grade-A office space is fully leased to a global investment firm. The transaction was completed at a discount to independent valuations. PwC and Trilegal provided advisory services for the deal. Source link...
Godrej Properties has secured land in Gurugram and Kolkata for new residential projects. The Gurugram acquisition spans 11.36 acres and is projected to generate over ₹4,500 crore in revenue. In Kolkata, a five-acre parcel off EM Bypass is set for premium residential development with an estimated revenue potential of ₹1,650 crore. Source link...
Haryana government will acquire land for 24-metre roads in city colonies. Builders will bear the acquisition and development costs. This move aims to resolve long-standing issues of narrow access roads. The plan is set for implementation in 2026-27. Residents welcome the intervention, anticipating improved connectivity and structured development. Source link...
Mumbai's civic body has passed a motion to raise the property tax exemption for residential units from 500 to 700 sqft. This move aims to ease the financial burden on middle-class families, particularly those in redeveloped slum properties. While the proposal requires administrative approval, it reflects a key election promise to retain original Mumbaikars in the city. Source link...
Gurugram police have arrested Puneet Beriwala, CEO of Vipul Limited, for allegedly duping lawyers of Rs 6 crore. Beriwala promised high returns on an investment in a real estate project but failed to deliver. He has been sent to two-day police custody for further investigation. Source link...
State-owned NBCC will seek Supreme Court exemption from RERA registration for 11 of Supertech's 16 projects requiring fund infusion. The company plans to divert surplus cash and raise funds from financial institutions to complete the stalled housing projects, aiming for delivery within three years. Source link...