Haryana RERA directs BPTP to refund maintenance charges to allottee with 11% interest

Haryana RERA’s Gurugram bench has directed BPTP to refund ₹1.16 lakh collected as maintenance charges before handing over possession of a unit in Park Spacio, Sector 37D, Gurugram. The authority also awarded ₹1 lakh as compensation and ₹50,000 as litigation cost.

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Signature Global evaluating senior living segment

Signature Global is evaluating opportunities in the senior living segment as part of its long-term growth strategy, though no decision has been finalised. India’s senior living market is currently estimated at $1-2 billion and may attract investments of $4.8-8.4 billion by 2030, according to Savills India.

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Nisus Finance invests ₹70 crore in three residential projects in Bengaluru

Nisus Finance has invested ₹70 crore through its ₹1,700 crore Real Estate Special Opportunities Fund I in three residential projects being developed by Sumukha Housing in Bengaluru. The projects have a total gross development value of about ₹300 crore.

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Maharashtra: New co-op housing society rules include online AGMs, 12% interest cap on maintenance arrears

Maharashtra housing societies can now hold annual meetings online, and interest on maintenance arrears is capped at 12% annually. New rules, notified Tuesday, provide a dedicated legal framework for societies, covering registration, membership, redevelopment, and financial management. These reforms aim to streamline operations and enhance governance, with model bylaws expected soon to ensure uniformity across the state.

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Godrej Properties acquires 4.95-acre land parcel in Noida for ₹331.75 crore

Godrej Properties has emerged as the highest bidder for a 4.95-acre residential land parcel in Sector 151, Noida, for ₹331.75 crore. The proposed residential project is expected to have revenue potential of over ₹2,000 crore.

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IBBI seeks to streamline real estate insolvency regulations with focus on homebuyers

India's bankruptcy watchdog is proposing significant reforms to expedite real estate insolvency. Key changes include excluding completed or unaffected housing projects with creditor approval and mandating project-wise cash flow management. The aim is to prioritize project completion, enhance transparency for homebuyers, and ensure accountability, with stakeholders invited to provide feedback by July 21.

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Builder ‘abandons’ commercial project after keeping buyers waiting for decades

A builder has informed Delhi RERA that it has abandoned a commercial project at Central Square Complex after over 30 years, citing a lack of sanctioned building plans. Purearth Infrastructure Ltd, a joint venture, is now offering refunds with interest to buyers who have been waiting for their promised units. This comes after years of delays and ongoing litigation, leaving customers in shock.

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