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...
Maharashtra Deputy Chief Minister Eknath Shinde announced a three-year deadline for developers to complete housing and redevelopment projects. Builders adhering to timelines and quality will receive priority for future government contracts. Shinde emphasized the government's commitment to clearing administrative hurdles and accelerating cluster redevelopment, aiming to make Mumbai and Thane...
Kolkata's state government has issued a new Standard Operating Procedure (SOP) requiring builders to submit detailed project information to borough offices, a move welcomed by major developers for its decentralised approach. This initiative aims to prevent future incidents like the Taratala warehouse collapse. Developers are cooperating fully, ensuring key personnel are available for site...
Thousands of Hyderabad homebuyers face significant delays, with nearly 63,000 units now expected to be handed over at least a year later than planned. Disruptions from the Middle East conflict, impacting material imports and escalating costs, coupled with labour shortages, are pushing project completion dates back. Many buyers are burdened by dual EMI and rental payments, awaiting their dream...