Agra: 20 years on, 3,000 homebuyers seek state government intervention over stalled Ansal township

Over 3,000 homebuyers of Ansal Properties' Sushant Taj City in Agra are seeking possession of plots booked nearly two decades ago. Despite paying in full, buyers are frustrated by the lack of progress and clarity from the Uttar Pradesh government and the Agra Development Authority, which has a stake in the project.

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Mindspace REIT acquires 51% stake in ITPC - Radial Road for ₹3,000 crore

The acquisition will add ₹241 crore to net operating income (NOI) on a proforma basis (of which 51% is attributable to Mindspace REIT), while loan-to-value (LTV) ratio will increase from 28.0% to 30.3%.

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CBI searches in eight states in builders-financial institutions nexus case

The CBI conducted searches at 77 locations across eight states in a builders-financial institutions nexus case. This investigation, handed over by the Supreme Court, targets builders accused of duping homebuyers through subvention schemes and an alleged nexus with banks. The searches are part of ongoing efforts to address widespread fraud in real estate projects.

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No capital gains if flat's sale price equals purchase cost: ITAT

The Income Tax Appellate Tribunal ruled that no capital gains tax applies when a property's sale price equals its purchase cost. The tribunal allowed a taxpayer's appeal, deleting a Rs 42.5 lakh addition by the tax department. This decision was based on the identical purchase and sale values and a similar ruling in the co-owner's case.

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NCLAT reaffirms project-specific insolvency proceedings against realty firms

The National Company Law Appellate Tribunal has made a pivotal assertion regarding homebuyers’ rights in insolvency cases, stipulating that disputes must be confined to the specific project where defaults have occurred. This ruling effectively shields unrelated real estate ventures from being implicated in insolvency actions.

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Portal to offer digitally signed realistic property valuation report soon in Maharashtra

Maharashtra residents will soon access digitally signed online property valuation reports via a new portal linked to the IGR website. This initiative, based on prevailing Annual Statement of Rates (ASR), aims to provide indicative market values, enabling buyers and sellers to understand property costs and registration fees in advance, promoting transparency and convenience in property transactions.

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Homebuyers 'fraud' case: ED seizes over ₹6 crore cash during raids against Earth Infrastructures

The Enforcement Directorate seized Rs 6.3 crore in cash and Rs 7.5 crore worth of jewellery from a Delhi-based real estate company, Earth Infrastructures Ltd., accused of defrauding homebuyers. The action follows multiple FIRs and a complaint from the SFIO, with funds allegedly diverted for land acquisition and routed to shell companies.

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