Committee of creditors can invite land authorities in realty insolvency cases: FM

Finance Minister Nirmala Sitharaman announced that land authorities can now join Committee of Creditors meetings to expedite bankruptcy resolutions for real estate projects. The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, passed by Rajya Sabha, aims to speed up case admission and resolution plan approval, benefiting thousands of homebuyers.

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Mindspace REIT acquires 2.6 million sq ft office asset in Chennai for ₹2,541 crore

Mindspace Business Parks REIT has bought a large office property in Chennai for approximately ₹2,541 crore. This acquisition significantly boosts its presence in South India. The deal includes existing office space and new development expected by March 2027. This move increases Chennai's share in Mindspace REIT's overall portfolio. The transaction was completed under a special arrangement with its sponsor.

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Tata Realty ink pact to buy Bengaluru land from Hinduja Group for ₹2,300 crore

Tata Realty and Infrastructure Ltd (TRIL) has acquired over 38 acres in Bengaluru for approximately Rs 2,300 crore, marking the city's largest land transaction. This significant deal underscores investor confidence in Bengaluru's office market and TRIL's strategy to expand its commercial portfolio with high-quality, large-scale developments.

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Haryana revises collector rates using data-driven framework

Haryana's collector rates have undergone fresh revisions, drawing insights from detailed property registry analyses. Rates for many real estate segments held steady, with only specific categories reflecting increases predicated on transaction value discrepancies. This strategic adjustment aims to enhance transparency and promote equitable property dealings in the region.

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IBBI suspends insolvency professional's registration for two years in Supertech case

The Insolvency and Bankruptcy Board of India (IBBI) has suspended insolvency professional Hitesh Goel for two years due to multiple lapses in handling Supertech Ltd and Nobility Estates insolvency proceedings. Goel failed to disclose key details in the Information Memorandum and delayed crucial meetings and filings, impacting thousands of homebuyers.

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Kirloskar Industries' realty arm raises ₹1,150 crore term loan from ICICI Bank

Avante Spaces, Kirloskar Industries' real estate arm, secured a Rs 1,150 crore term loan from ICICI Bank for a Grade A commercial development in Pune's Kothrud. This financing, structured over 44 months at 8% interest, underscores lender confidence in established urban locations and well-backed projects.

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ED attaches over ₹270-crore assets of former Lodha Developers director Rajendra Lodha

The Enforcement Directorate has confiscated properties worth over 270 crore rupees in connection to a high-profile money laundering case. Ex-Lodha Developers director, Rajendra Lodha, who was taken into custody earlier this year, stands accused of manipulating company resources through dubious land deals and unauthorized asset sales.

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