SC orders Larsen & Toubro to vacate ₹1,000 crore Pali Hill bungalow

After a two-decade legal battle, Larsen & Toubro has been ordered by the Supreme Court to vacate a prime Pali Hill bungalow worth over Rs 1,000 crore. The company's attempt to claim co-ownership by purchasing shares during eviction proceedings was rejected by courts as a strategy to block possession. The final ruling upholds the owners' right to reclaim the property.

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Bagmane Prime Office REIT to launch ₹3,405-crore IPO on May 5

Bagmane Prime Office REIT will launch its Rs 3,405 crore initial public offering on May 5. The issue will close on May 7. The REIT owns Grade A+ office assets in Bengaluru. It has a high occupancy rate and a strong tenant base. Proceeds will fund property acquisitions.

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ICICI Pru Alternatives buys RMZ office assets in Bengaluru, Pune for ₹2,600 crore

ICICI Prudential Alternatives has made a significant investment by purchasing two prestigious office buildings in Bengaluru and Pune for roughly Rs 2,600 crore, using funds from the ICICI Prudential Office Yield Optimiser Fund. Both properties are gems in India's commercial landscape, with EcoWorld 21 perched on Bengaluru's Outer Ring Road and RMZ Edge in the vibrant Koregaon Park of Pune.

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Mumbai: In a first, SRA starts freezing builders’ sale flats to secure tenants’ rent

The Slum Rehabilitation Authority (SRA) is now freezing sale flats equivalent to three years' rent to ensure eligible slum dwellers receive their payments and new homes. This measure aims to prevent developers from defaulting on transit rent obligations. The SRA is also pushing for faster project completion and has collected over Rs 1,000 crore in rent.

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Maharashtra digitises housing society registration; documents slashed from 29 to 19

Maharashtra's cooperation department has launched a fully online system on the Aaple Sarkar Portal to digitize cooperative housing society registrations. This reform significantly reduces paperwork and streamlines the process, aiming to clear a backlog of unregistered buildings and empower residents by eliminating middlemen and simplifying procedures.

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ED raids against Raheja Developers in home buyers 'fraud' case

The Enforcement Directorate has conducted fresh searches against Raheja Developers in Delhi-NCR as part of a money laundering probe linked to alleged fraud with home buyers. The investigation focuses on the non-delivery of flats in the 'Raheja Revanta' project. The company denies wrongdoing, citing project delays due to a lack of essential government infrastructure.

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Delhi court orders framing of charges against Three C Shelters' directors in Greenopolis housing project case

A Delhi court has initiated proceedings against the leaders of Three C Shelters Pvt Ltd, in relation to the halted Greenopolis housing project in Gurugram. The directors stand accused of deceiving homebuyers, with allegations pointing towards a preliminary case of fraud, forgery, and conspiracy.

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