A consumer commission has ordered two real estate developers to refund Rs 7 lakh with interest to a homebuyer for a flat booked in 2008. The developers failed to deliver possession and repeatedly delayed refunds, prompting the buyer to approach the commission. Penalties were also imposed on the Ghaziabad and Delhi-based firms. Source link...
ReaRCo Private Limited has acquired KV Developers, bringing relief to nearly 400 homebuyers in Greater Noida. The company secured Rs 195 crore from the SWAMIH Fund to finish the stalled project. Construction is underway on five towers, with possession expected by year-end. Dues to financial institutions and the development authority have been cleared. Source link...
The Supreme Court has instructed the NCLAT to expedite the process of merging the remaining 14 housing projects of Supertech. This initiative targets the timely completion of these developments, addressing the prolonged grievances of homebuyers. The NCLAT will consider input from diverse stakeholders, including local farmers and land agencies. Source link...
Brookfield India Real Estate Trust is raising Rs 2,600 crore through a Qualified Institutional Placement. Major investors include IFC, Whiteoak Capital, HDFC Life Insurance, Axis Max Life Insurance, and PPFAS Mutual Fund. The funds will support acquisitions and debt repayment. This fundraising follows significant capital raised since 2023. The REIT has expanded its operational assets...
The Income Tax department is investigating 2.5 lakh property deals in North India valued at over Rs 3 lakh crore. This action follows failures by revenue offices in Gurgaon and Faridabad to report transactions accurately. Missing or incorrect PAN details hampered tax verification. Surveys revealed significant tax evasion. Source link...
Maharashtra's registration department is launching 60 private centres by July, modelled on passport offices, to speed up property registrations. These centres will offer enhanced amenities for a processing fee of up to Rs 5,217, operating alongside existing government offices. Source link...
The Enforcement Directorate conducted fresh searches on Friday against Kolkata-based Merlin Group and linked entities as part of an ongoing money laundering probe. This action follows earlier raids concerning alleged fabrication of land titles using forged documents and subsequent exploitation of the land for real estate projects. Source link...
A taxpayer can claim capital gains exemption for a new house even without filing an original tax return. The Mumbai ITAT ruled that such claims are valid if made during reassessment proceedings. This decision supports taxpayers by preventing procedural errors from blocking legitimate tax benefits. The case involved a taxpayer who reinvested capital gains in a new property. Source link...
Signature Global has entered into a brand licensing agreement with Italian lifestyle brand Tonino Lamborghini to develop a premium residential project in Gurugram with an estimated GDV of ₹4,000 crore. The project will span over 12.4 acres and comprise 812 units, marking the brand’s entry into India’s housing market. Source link...
Ashiana Housing plans to invest ₹800 crore in land acquisition across India in FY27, a senior executive said. The company reported record senior living sales of ₹570.2 crore in FY26, driven by strong demand in the segment. Source link...