NBCC to move Supreme Court for RERA exemption to complete 11 cash-starved Supertech projects

State-owned NBCC will seek Supreme Court exemption from RERA registration for 11 of Supertech's 16 projects requiring fund infusion. The company plans to divert surplus cash and raise funds from financial institutions to complete the stalled housing projects, aiming for delivery within three years.

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SWAMIH Fund sanctions ₹115 crore for completion of Antriksh Valley project in Greater Noida West

The SWAMIH Investment Fund I has approved up to ₹115 crore for the stalled Antriksh Valley project in Greater Noida West. This funding will facilitate project completion, including a redesigned residential tower, after the new management cleared land dues and resolved homebuyer claims. The investment aims to restore homebuyer confidence in stalled housing projects.

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ED attaches ₹598-crore worth of assets in case against Ansal Properties

The Enforcement Directorate has attached land valued at Rs 598 crore in Agra. This action is part of a money laundering investigation targeting Ansal Properties and Infrastructure Ltd. The case involves significant irregularities in land acquisition and release in Gurugram, Haryana. The agency alleges a fraudulent process led to land being released to private developers.

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Mumbai affordability index at 50%; cluster redevelopment to unlock 800-1,000 acres: MHADA CEO

Mumbai is embracing large-scale cluster redevelopment to tackle housing challenges. MHADA plans to open vast land parcels for integrated projects. This strategy aims to create planned residential areas with better infrastructure. The goal is to deliver millions of affordable homes by 2030. This approach will generate significant housing stock for lower-income groups.

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NCLAT orders handover of maintenance of two Supertech housing projects to AoAs

The National Company Law Appellate Tribunal has ordered the handover of day-to-day maintenance at two Supertech housing projects. Residents' associations will now manage essential services at Ecociti and 34 Pavilion. This decision follows years of waiting for residents. The transfer must be completed within 30 days under supervision. This empowers apartment owners with control over their societies' upkeep.

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RLDA to lease out Bengaluru’s Yeshwantpur colony land for residential project

Rail Land Development Authority plans to lease railway land in Yeshwantpur for residential apartments. This 99-year lease aims to generate revenue and redevelop the existing railway colony. The project involves building private apartments alongside redeveloped staff quarters. Developers have until March 18 to submit bids. Separately, 169 trees will be felled at SMVT for a sick line project.

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Google expands Bengaluru footprint, secures rights to 2.6 million sq ft at Alembic City

Google is significantly expanding its presence in Bengaluru's Whitefield, securing rights to approximately 2.6 million square feet at Alembic City. This move highlights the tech giant's sustained commitment to the region, with the landlord obligated to reserve additional office blocks exclusively for Google.

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