Mhada seeks FIR against 23 developers for violating inclusive housing norms, police yet to initiate process

Maharashtra Housing and Area Development Authority has taken a stand against 23 developers who allegedly defaulted on transferring land designated for affordable housing. This failure reportedly violates inclusive housing laws, raising significant regulatory concerns. While Mhada has called upon the police for intervention, action remains pending, with the next steps hinging on further discussions between Mhada and police officials.

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Mahindra Lifespaces’ net profit declines 66% to ₹16.34 crore in Q2 FY27

Mahindra Lifespace Developers reported a significant decline of 65.9 percent in net consolidated profit for the second quarter. However, total income surged to ₹104.02 crore, with residential pre-sales booming by 41 percent. The first half of FY27 saw total income soar to ₹1,081.56 crore compared to ₹73.67 crore the previous year.

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In relief for Avinash Bhosale, Bombay HC says ₹25 crore received by his firm ABIL not proceeds of crime

The Bombay High Court delivered a significant verdict in favor of builder Avinash Bhosale, ruling that the Rs 25 crore he received in 2019 is not indicative of crime as suggested by the Enforcement Directorate. The court annulled the provisional seizure of properties associated with Bhosale, affirming the legality of his company's financial transactions while drawing a clear line between lawful business and suspected money laundering.

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Accenture leases, renews 5.84 lakh sq ft across Mindspace REIT’s Airoli parks

Accenture has secured over 5.84 lakh square feet of office space in Navi Mumbai. This includes fresh leasing, expansion, and renewal of existing spaces spanning ten years. The new offices are expected to house around 10,000 employees engaged in various functions. Mindspace Airoli is becoming a preferred location for multinational companies due to its connectivity and lower costs.

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UP-RERA makes on-site inspection must for project extension requests in Noida, Ghaziabad and Lucknow

UP Rera has introduced a new requirement mandating on-site inspections by its expert team for any requests for project extensions. This regulation is effective immediately and specifically applies to projects in Ghaziabad, GB Nagar, and Lucknow. This change arose from concerns over possible document fabrication by developers. Homebuyers' interests in these areas are prioritized, and developers will receive prior notification of inspections.

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IndiQube Spaces to invest up to ₹35 crore in SaiEdge Realty for 49% stake

IndiQube Spaces has approved an investment of up to ₹35 crore in SaiEdge Realty for a stake of up to 49% on a fully diluted basis. SaiEdge will develop commercial office space that IndiQube intends to lease upon completion.

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Sopra Steria leases 4.74 lakh sq ft office space in Noida for 15 years; rent outlay at ₹816 crore

Sopra Steria India has leased 4.74 lakh sq ft of office space at Maconns Grand in Sector 132, Noida, for 15 years at an initial monthly rent of about ₹3.76 crore. The lease entails an aggregate rent outlay of about ₹816 crore and includes 1,125 car parking spaces, according to Propstack.

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