SC freezes bank accounts of Parsvnath Developers, directors; issues warrants against its officials

The Supreme Court froze Parsvnath Developers' bank accounts and issued warrants. This action followed a twenty-year struggle by senior citizens for their homes. The court criticized Haryana authorities for failing to enforce RERA orders. This case highlights concerns about the Real Estate Act's effectiveness. The court expressed grave concern over regulatory authority inaction and potential collusion.

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Mumbai: Politician-developer on the run after court denies bail in ₹7 crore fraud case

Shiv Sena politician Shankar Kumar Jha is now on the run from authorities. His anticipatory bail plea was rejected by the Thane Sessions Court. He faces allegations of cheating homebuyers of Rs 7.24 crore. The investigation has been transferred to the Economic Offences Wing. Jha’s current whereabouts remain unknown to the police.

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Produce approved, advertised drawings of Panchkula flat: Haryana REAT to DLF

The Haryana Real Estate Appellate Tribunal has ordered a realty firm and the DTCP to produce specific project drawings. This direction follows a homebuyer's challenge regarding the apartment's carpet area and pricing calculations. The tribunal also requested the occupation certificate based on the approved drawings for verification. The realty firm has disputed the homebuyer's allegations concerning the sale price calculations.

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The Executive Centre leases 1.15 lakh sq ft office space in Delhi’s Aerocity

The Executive Centre India has leased 1.15 lakh sq ft office space at Worldmark 6, Aerocity, Delhi, from Alborz Developers. The company will pay about ₹309 crore rent over the nine-year lease tenure.

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MHADA 79A amendment clears legislature, revives hope for redevelopment of 13,000 old Mumbai buildings

Maharashtra's legislature has amended the MHADA Act to revive Section 79A. This amendment addresses legal ambiguities that previously halted redevelopment efforts. The state expects this change to strengthen its Supreme Court case regarding building safety. Thousands of families reside in dangerous, ageing buildings across Mumbai city. This legislative step moves forward crucial urban renewal initiatives for residents.

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Former ASK Asset director's family buys four Mumbai apartments for ₹179 crore

Family members of Bharat Shah acquired four luxury apartments in Mumbai's Worli area. The total cost for these residences reached approximately Rs 180 crore from the developer. These four apartments are located on the 34th and 35th floors of Wing A. Registration documents show the deal includes sixteen car parking spaces. This transaction highlights continued demand for premium housing in Mumbai's prime locations.

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Punjab & Haryana HC bars fresh allotments in Oberoi Realty’s Gurugram project pending DTCP decision

The Punjab & Haryana High Court has restrained IREO Group entities and Oberoi Realty from making fresh allotments or creating third-party rights in a Gurugram project until the Haryana DTCP decides a complaint by Advance India Projects. Oberoi Realty said the order does not affect existing sales or construction.

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