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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Lavasa homebuyers file plea at NCLT against resolution

Homebuyers of Lavasa, India's first privately built hill town, have filed a fresh appeal. They allege serious flaws in the resolution plan approved by creditors. The homebuyers claim discriminatory treatment and a lack of transparency in the insolvency process. They seek intervention from the appellate tribunal to address these concerns and ensure fair treatment.

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Brookfield India REIT raises ₹2,600 crore via institutional placement

Brookfield India REIT has raised around ₹2,600 crore through an institutional placement of units, while 360 ONE Asset has invested ₹1,125 crore to acquire a 13% stake in a REIT-owned Bengaluru office asset, Ecoworld.

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ReaRCo acquires KV Developers through the insolvency process

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.

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