Hyderabad's Raidurg area witnesses a record-breaking land auction as one acre fetches ₹237 crore

Hyderabad's Raidurg witnessed a record-breaking land auction as one acre fetched Rs 237 crore, significantly surpassing previous benchmarks. Gowra Ventures Pvt Ltd secured the 6.29-acre parcel for IT and mixed development. This phenomenal price, 70% over the reserve, underscores investor confidence in Telangana's burgeoning economic landscape and Hyderabad's prime real estate appeal.

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Mumbai developer accuses former partner of cheating him out of ₹11.51 crore

A Mumbai developer has accused his former partner of cheating him out of Rs 11.51 crore by allegedly concealing the prior sale of 19 flats in a Bandra East slum rehabilitation project. The Economic Offences Wing has registered an FIR for cheating, forgery, and breach of trust against the accused, who is alleged to have diverted sale proceeds.

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LIC to explore option of separate real estate subsidiary

LIC is actively reviewing its vast real estate portfolio, estimated at over Rs 60,000 crore, to improve returns for policyholders and shareholders. The insurer is exploring options like a separate subsidiary for greater efficiency in managing these assets. Additionally, LIC is prepared for further stake dilution by the government, awaiting the right market conditions for subsequent public offerings.

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SC seeks responses of Centre, ED, RBI on plea alleging siphoning of homebuyers' funds

The Supreme Court has issued notices to the Centre, ED, RBI, and several real estate firms regarding allegations of siphoning off thousands of crores collected from homebuyers in Noida and Yamuna Expressway projects. The plea highlights a systemic issue of developers diverting funds, leading to project insolvency and buyers being left stranded.

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Pune police register FIR against Runwal Group's MD

Pune Police have registered a case against Runwal Group MD Subodh Runwal and six others following a court order concerning a land dispute in Viman Nagar. The FIR alleges forged documents and illegal transfer of rights over a 3.93-hectare land parcel, stemming from a joint venture agreement.

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Small residential buildings in Delhi seeking regularisation will no longer need physical inspection

The Municipal Corporation of Delhi has eased building regularisation for residential properties up to 105 square metres. Owners now submit an architect-certified undertaking online instead of requiring a physical inspection. This aims to streamline approvals, cut delays, and boost civic revenue, making services more accessible for citizens.

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Construction costs up 25% since global conflicts began, developers flag material shortages: CREDAI

Construction costs have surged over 25 percent due to global conflicts. Supply chain issues, labor shortages, and rising material prices are impacting builders. Executives note challenges in material availability, stressing project timelines. The organized sector is better equipped to handle these pressures. Developers are seeking RERA timeline relief. Technology adoption is being explored to mitigate labor shortages.

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