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...
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...