Amit Ashok Thepade, director of a Pune-based real estate firm, was arrested from a Mumbai hotel in connection with a Rs 117.06 crore bank loan fraud involving Canara Bank. The Enforcement Directorate (ED) seized Rs 9.5 lakh in cash and jewellery worth Rs 2.3 crore. Source link...
A Gurugram-based realty group, Krrish Realtech, defrauded home buyers. The group collected over Rs 500 crore for housing plots. However, they diverted Rs 205 crore to a Sri Lanka hotel project. The Enforcement Directorate (ED) is investigating Amit Katyal and others. Katyal is already arrested in another case. The ED filed a chargesheet and the court issued a notice. Source link...
India's listed real estate companies witnessed robust sales, reaching nearly Rs 53,000 crore in the April-June quarter, driven by strong residential demand. Prestige Estates led with the highest sales bookings, followed by DLF and Godrej Properties. These top five developers contributed significantly to the total sales, indicating a concentrated market benefiting from increased homebuyer...
Microsoft India (R&D) has leased 264,000 sq ft in Hyderabad's financial district from Table Space Technologies, commencing July 2025. The five-year lease at Phoenix Centaurus involves a monthly rent of ₹1.77 crore, escalating annually by 4.8%. This expansion highlights Hyderabad's appeal to large tech companies due to its talent pool and infrastructure. Source link...
The NCLAT has upheld the acquisition of Vadraj Cement by Nuvoco Vistas, dismissing a plea challenging the resolution plan. The tribunal affirmed the NCLT's approval of Nuvoco's bid, which includes an upfront payment of Rs 1,800 crore. Source link...
Enforcement Directorate has initiated 22 cases. This action investigates the alleged nexus between builders and banks. The focus is on cheating homebuyers in the National Capital Region. These cases stem from CBI FIRs. The FIRs were filed following Supreme Court directives. The investigation aims to uncover fraud and money laundering. It also seeks to recover illicit assets. Source link...
Microchip Technology, through its Indian arm, has acquired 1.72 lakh sq ft of office space in Whitefield, Bengaluru, for ₹176 crore. The purchase from Ascendum Solution India includes two commercial blocks in the EPIP Zone. This significant transaction, valued at ₹10,230 per sq ft, marks one of the largest office space buyouts in the city this quarter. Source link...
Runwal Enterprises, a Mumbai-based real estate developer, has received SEBI approval for a ₹1,000 crore IPO. The IPO proceeds will fuel expansion and strengthen the balance sheet. Between 2019 and 2024, Runwal Enterprises ranked second in Mumbai for new residential launches and sales. The company reported revenues of ₹662.19 crore in FY24, a significant jump from the previous year. Source link...
Godrej Properties secured a 7.825-acre land parcel in Kukatpally, Hyderabad, through an e-auction conducted by the Telangana Housing Board. GPL's winning bid for the residential group housing land was ₹547.75 crore. Source link...
British businessman Sukhpal Singh Ahluwalia has purchased a luxurious 11,416 sq ft apartment in DLF's The Camellias, Gurugram, for Rs 100 crore, marking the third such high-value transaction in the complex. This deal highlights the continued strong demand for luxury homes in India, with prices in Gurugram and Delhi now rivalling Mumbai's upscale areas. Source link...