Godrej Industries arm buys office space worth ₹365 crore in Mumbai's Vikhroli

Godrej Seeds and Genetics Ltd has acquired three floors in Godrej One, Vikhroli, for Rs 366 crore. This intra-group consolidation of 70,361 sq ft of office space highlights a trend of corporates optimizing real estate for long-term efficiency. The deal underscores Vikhroli's growing prominence as a business hub.

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Punjab & Haryana HC clears way for FIR against Emaar India in property dispute

Punjab and Haryana HC has refused to quash an FIR against Emaar India Ltd, rejecting the real estate giant's plea. The company faces allegations of cheating, fraud, and criminal conspiracy for allegedly suppressing prior binding agreements over project land. The court found the allegations disclosed a prima facie case requiring investigation.

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Uttar Pradesh's state cabinet approves ordinance simplifying land-use conversion

Uttar Pradesh cabinet approved an ordinance simplifying land-use conversion, integrating it with building plan approvals to boost industrial growth. A policy to treat and reuse wastewater was also cleared, aiming to conserve drinking water resources. Additionally, funds were allocated for a 7km road for the Sambhal 24 Kosi Parikrama, easing devotee access.

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SWAMIH Investment Fund II in process of being formally launched: Finance minister

The SWAMIH Investment Fund II is set to launch, aiming to help homebuyers with stuck investments. The SWAMIH Fund has already committed to 148 projects, delivering over 63,000 homes. This initiative, established in November 2019, provides crucial debt financing to revive stalled affordable and mid-income housing projects across India. It acts as a vital support for developers facing difficulties.

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Telangana government amends building rules, expands TDR use

Telangana government has amended building rules, streamlining TDR usage and relaxing parameters to boost real estate. High-rise definitions are updated, and TDR can now be used for setback relaxations and to offset development charges for altered master plan roads. These changes aim to provide greater flexibility and financial ease for developers.

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ED flags Indians buying Dubai properties using credit cards

Indian authorities are scrutinizing residents who bought Dubai properties using credit cards. This method may breach foreign exchange rules. Individuals are receiving notices from the Enforcement Directorate. They face penalties and the need to regularize transactions. Some may have to sell properties. This situation highlights the complexities of cross-border property investments.

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Vedanta moves NCLAT, challenges NCLT nod to Adani's bid for acquiring Jaiprakash Associates

Vedanta Group has appealed to the NCLAT against the NCLT's decision. The NCLT had approved Adani Group's bid to acquire Jaiprakash Associates Ltd. Vedanta was also in the race to acquire the company. The Committee of Creditors had previously approved Adani's plan. Jaiprakash Associates has significant assets across real estate, cement, and hospitality.

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