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.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/mxMuhRV
via IFTTT

SC asks NCLAT to take decision on 14 housing projects of debt-ridden Supertech

The Supreme Court has instructed the NCLAT to expedite the process of merging the remaining 14 housing projects of Supertech. This initiative targets the timely completion of these developments, addressing the prolonged grievances of homebuyers. The NCLAT will consider input from diverse stakeholders, including local farmers and land agencies.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/Iy9RuHd
via IFTTT

IFC, domestic funds back Brookfield India REIT’s ₹2,600-crore QIP

Brookfield India Real Estate Trust is raising Rs 2,600 crore through a Qualified Institutional Placement. Major investors include IFC, Whiteoak Capital, HDFC Life Insurance, Axis Max Life Insurance, and PPFAS Mutual Fund. The funds will support acquisitions and debt repayment. This fundraising follows significant capital raised since 2023. The REIT has expanded its operational assets considerably.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/CJWyfrS
via IFTTT

Missing papers put 2.5 lakh property deals in Gurugram on radar

The Income Tax department is investigating 2.5 lakh property deals in North India valued at over Rs 3 lakh crore. This action follows failures by revenue offices in Gurgaon and Faridabad to report transactions accurately. Missing or incorrect PAN details hampered tax verification. Surveys revealed significant tax evasion.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/W4eIatq
via IFTTT

ED conducts fresh raids in PMLA case against Kolkata-based Merlin Group

The Enforcement Directorate conducted fresh searches on Friday against Kolkata-based Merlin Group and linked entities as part of an ongoing money laundering probe. This action follows earlier raids concerning alleged fabrication of land titles using forged documents and subsequent exploitation of the land for real estate projects.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/zuvqtr6
via IFTTT

Tax benefit claimed for reinvestment allowed during reassessment: ITAT

A taxpayer can claim capital gains exemption for a new house even without filing an original tax return. The Mumbai ITAT ruled that such claims are valid if made during reassessment proceedings. This decision supports taxpayers by preventing procedural errors from blocking legitimate tax benefits. The case involved a taxpayer who reinvested capital gains in a new property.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/2R1umzo
via IFTTT

Signature Global to invest ₹2,891 crore in Gurugram project; partners with Tonino Lamborghini

Signature Global has entered into a brand licensing agreement with Italian lifestyle brand Tonino Lamborghini to develop a premium residential project in Gurugram with an estimated GDV of ₹4,000 crore. The project will span over 12.4 acres and comprise 812 units, marking the brand’s entry into India’s housing market.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/SepViLw
via IFTTT