Promoters are required to upload annual audit reports of project accounts on the UP RERA portal within six months from the end of a financial year. Non-filing attracts a late fee of ₹25,000, while violation of relevant RERA provisions can attract penalty of up to 5% of the estimated project cost. Source link...
Ghaziabad Development Authority is urging developers to finalize pending building map approvals within two weeks before transitioning to a new, faster, trust-based system. This upgraded platform, integrated with new bylaws, promises quicker clearances, online tracking, and reduced human intervention. The move aims to significantly boost the rate of map approvals, a key revenue source for the...
Hero MotoCorp has leased about 2.31 lakh sq ft, while WeWork India has leased about 1.14 lakh sq ft at Worldmark 6, Aerocity, Delhi. The combined estimated rental payout over the lease tenure is about ₹922 crore, according to documents accessed by Propstack. Source link...
Homebuyers can still seek compensation for delayed flat possession even after taking custody, the Supreme Court ruled. The apex court set aside a previous order stating homebuyers cease to be consumers post-possession. It also clarified that arbitration clauses in agreements do not prevent buyers from approaching consumer forums for grievances. This landmark decision revives a 22-year-old case,...
The NCLT Mumbai Bench has approved Pune-based Mantra Properties & Developers’ resolution plan to revive a stalled Worli residential project in Mumbai with an estimated revenue potential of around Rs 2,000 crore. Source link...
Haryana's self-certification policy for occupation certificates is under fire after a probe revealed incomplete buildings were granted approvals. This system, where architects certify compliance without mandatory departmental checks, has raised serious safety concerns and eroded buyer trust. Show-cause notices have been issued, and a legal challenge is brewing, demanding either policy withdrawal...
More than 15 companies signed MoUs with the Uttar Pradesh government during the Uttar Pradesh Global Growth Dialogue 2026 in Bengaluru. The state is targeting 40 million sq ft of Grade-A office space and 500 GCC units by 2031. Source link...
A key creditor has withdrawn its appeal against Nirmal Lifestyle's resolution plan after the buyer, Mantra Properties, clarified a disputed mortgaged property isn't included. The National Company Law Tribunal had approved Mantra's acquisition of the debt-laden firm, which owes Rs 1,491 crore, with the plan proposing Rs 215 crore. Source link...
Young professionals in Gurgaon's DLF-3 faced sudden displacement as authorities resumed a sealing drive against illegal constructions. Residents of paying guest accommodations and rented flats were given mere hours to pack and leave their homes, often discovering the crackdown upon returning from work. This action follows court orders targeting buildings violating approved plans and operating...
Following a fatal warehouse collapse, West Bengal Chief Minister Suvendu Adhikari has halted all under-construction commercial projects approved by the previous government until July 31. A comprehensive audit will scrutinize these projects, including those built on filled water bodies, to ensure adherence to safety norms. Essential services like hospitals and fire stations are exempt. Source link...