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...
The agreed rental stands at Rs 125.05 per sq ft per month, translating into a monthly outgo of over Rs 1.68 crore. The rent is inclusive of fit-outs, indicating that the space will be delivered in a ready-to-use format, reducing upfront capital expenditure and speeding up operational readiness. Source link...
The SWAMIH Investment Fund I has approved up to ₹115 crore for the stalled Antriksh Valley project in Greater Noida West. This funding will facilitate project completion, including a redesigned residential tower, after the new management cleared land dues and resolved homebuyer claims. The investment aims to restore homebuyer confidence in stalled housing projects. Source link...
The Enforcement Directorate has attached land valued at Rs 598 crore in Agra. This action is part of a money laundering investigation targeting Ansal Properties and Infrastructure Ltd. The case involves significant irregularities in land acquisition and release in Gurugram, Haryana. The agency alleges a fraudulent process led to land being released to private developers. Source link...
Merlin Prime Spaces, a subsidiary of the Kolkata property developer, is looking to build a commercial project on the land parcel with a total investment of over Rs 1,000 crore including the land cost. Source link...
Realty major Lodha Developers has secured development rights for a significant 4.3-acre land parcel in Mumbai's upscale Malabar Hill. The deal is valued at an estimated Rs 2,800 crore. This acquisition highlights Lodha's focus on premium housing. The transaction involves upfront payments and a revenue share with the land-owning trust. Source link...
Mumbai is embracing large-scale cluster redevelopment to tackle housing challenges. MHADA plans to open vast land parcels for integrated projects. This strategy aims to create planned residential areas with better infrastructure. The goal is to deliver millions of affordable homes by 2030. This approach will generate significant housing stock for lower-income groups. Source link...
The National Company Law Appellate Tribunal has ordered the handover of day-to-day maintenance at two Supertech housing projects. Residents' associations will now manage essential services at Ecociti and 34 Pavilion. This decision follows years of waiting for residents. The transfer must be completed within 30 days under supervision. This empowers apartment owners with control over their...
Rail Land Development Authority plans to lease railway land in Yeshwantpur for residential apartments. This 99-year lease aims to generate revenue and redevelop the existing railway colony. The project involves building private apartments alongside redeveloped staff quarters. Developers have until March 18 to submit bids. Separately, 169 trees will be felled at SMVT for a sick line project. Source...
Google is significantly expanding its presence in Bengaluru's Whitefield, securing rights to approximately 2.6 million square feet at Alembic City. This move highlights the tech giant's sustained commitment to the region, with the landlord obligated to reserve additional office blocks exclusively for Google. Source link...