Government replaces building code with a new standard

Government has replaced the National Building Code with National Building Construction Standards. These new standards are now voluntary guidelines. A significant change is in fire and life safety rules. Previously mandatory, these provisions are now advisory. The height threshold for these rules has also increased. This shift aims for more flexibility and innovation in construction.

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Dubai eases visa rule for single property buyers

Dubai has removed the minimum property value for its two-year residency visa for individual buyers. This move aims to boost realty demand. For jointly owned properties, the minimum stake per investor is now AED 400,000. This change is expected to attract mid-tier professionals. The decision follows a significant slump in real estate sales volumes in Dubai.

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Co-working spaces trigger GST registration hurdles

Businesses using co-working spaces in Gujarat are facing increased GST registration scrutiny, with tax authorities questioning the validity of shared premises. Applicants are being asked for proof of exclusive possession, leading to rejections due to multiple firms at one address. Experts advise clearer guidelines and robust documentation for flexible workspaces.

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Our objective is to give houses to 22,000 homebuyers of ailing Unitech: SC

The Supreme Court has taken decisive action to resolve the plight of 22,000 Unitech homebuyers by appointing a new board to oversee the troubled real estate firm. Seeking collaborative solutions, the court has asked for input from the board, financial institutions, and banks. The ultimate aim is to facilitate the delivery of homes to buyers who have been left waiting.

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ED attaches Raheja Developers' assets worth over ₹1,110 crore

In a significant crackdown, the Enforcement Directorate has frozen assets worth over Rs 1,100 crore belonging to Raheja Developers. This move is part of an ongoing investigation into allegations of fraud aimed at homebuyers. During recent raids, the agency recovered substantial amounts in gold and foreign currency.

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Delhi development body put 142 major plots on sales to generate revenue

The Delhi Development Authority (DDA) is boosting revenue by e-auctioning over 140 diverse land sites and plots for residential, industrial, commercial, and institutional uses. This initiative aims to monetize vacant land and assets, with registrations open until May 22 for properties across prime Delhi locations.

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Soon high-rises on nine-metres roads across Mumbai

Mumbai's BMC is easing building height restrictions, allowing skyscrapers on narrow roads. An amendment to DCPR 2034 introduces graded height permissions based on road width, potentially unlocking redevelopment for thousands of old buildings. While boosting urban renewal, concerns remain about infrastructure strain and emergency access.

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SC orders Larsen & Toubro to vacate ₹1,000 crore Pali Hill bungalow

After a two-decade legal battle, Larsen & Toubro has been ordered by the Supreme Court to vacate a prime Pali Hill bungalow worth over Rs 1,000 crore. The company's attempt to claim co-ownership by purchasing shares during eviction proceedings was rejected by courts as a strategy to block possession. The final ruling upholds the owners' right to reclaim the property.

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Bagmane Prime Office REIT to launch ₹3,405-crore IPO on May 5

Bagmane Prime Office REIT will launch its Rs 3,405 crore initial public offering on May 5. The issue will close on May 7. The REIT owns Grade A+ office assets in Bengaluru. It has a high occupancy rate and a strong tenant base. Proceeds will fund property acquisitions.

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ICICI Pru Alternatives buys RMZ office assets in Bengaluru, Pune for ₹2,600 crore

ICICI Prudential Alternatives has made a significant investment by purchasing two prestigious office buildings in Bengaluru and Pune for roughly Rs 2,600 crore, using funds from the ICICI Prudential Office Yield Optimiser Fund. Both properties are gems in India's commercial landscape, with EcoWorld 21 perched on Bengaluru's Outer Ring Road and RMZ Edge in the vibrant Koregaon Park of Pune.

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Mumbai: In a first, SRA starts freezing builders’ sale flats to secure tenants’ rent

The Slum Rehabilitation Authority (SRA) is now freezing sale flats equivalent to three years' rent to ensure eligible slum dwellers receive their payments and new homes. This measure aims to prevent developers from defaulting on transit rent obligations. The SRA is also pushing for faster project completion and has collected over Rs 1,000 crore in rent.

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Maharashtra digitises housing society registration; documents slashed from 29 to 19

Maharashtra's cooperation department has launched a fully online system on the Aaple Sarkar Portal to digitize cooperative housing society registrations. This reform significantly reduces paperwork and streamlines the process, aiming to clear a backlog of unregistered buildings and empower residents by eliminating middlemen and simplifying procedures.

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ED raids against Raheja Developers in home buyers 'fraud' case

The Enforcement Directorate has conducted fresh searches against Raheja Developers in Delhi-NCR as part of a money laundering probe linked to alleged fraud with home buyers. The investigation focuses on the non-delivery of flats in the 'Raheja Revanta' project. The company denies wrongdoing, citing project delays due to a lack of essential government infrastructure.

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Delhi court orders framing of charges against Three C Shelters' directors in Greenopolis housing project case

A Delhi court has initiated proceedings against the leaders of Three C Shelters Pvt Ltd, in relation to the halted Greenopolis housing project in Gurugram. The directors stand accused of deceiving homebuyers, with allegations pointing towards a preliminary case of fraud, forgery, and conspiracy.

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Lavasa homebuyers file plea at NCLT against resolution

Homebuyers of Lavasa, India's first privately built hill town, have filed a fresh appeal. They allege serious flaws in the resolution plan approved by creditors. The homebuyers claim discriminatory treatment and a lack of transparency in the insolvency process. They seek intervention from the appellate tribunal to address these concerns and ensure fair treatment.

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Brookfield India REIT raises ₹2,600 crore via institutional placement

Brookfield India REIT has raised around ₹2,600 crore through an institutional placement of units, while 360 ONE Asset has invested ₹1,125 crore to acquire a 13% stake in a REIT-owned Bengaluru office asset, Ecoworld.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Ashiana Housing to invest ₹800 crore for land acquisition in FY27

Ashiana Housing plans to invest ₹800 crore in land acquisition across India in FY27, a senior executive said. The company reported record senior living sales of ₹570.2 crore in FY26, driven by strong demand in the segment.

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Agra: 20 years on, 3,000 homebuyers seek state government intervention over stalled Ansal township

Over 3,000 homebuyers of Ansal Properties' Sushant Taj City in Agra are seeking possession of plots booked nearly two decades ago. Despite paying in full, buyers are frustrated by the lack of progress and clarity from the Uttar Pradesh government and the Agra Development Authority, which has a stake in the project.

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Mindspace REIT acquires 51% stake in ITPC - Radial Road for ₹3,000 crore

The acquisition will add ₹241 crore to net operating income (NOI) on a proforma basis (of which 51% is attributable to Mindspace REIT), while loan-to-value (LTV) ratio will increase from 28.0% to 30.3%.

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CBI searches in eight states in builders-financial institutions nexus case

The CBI conducted searches at 77 locations across eight states in a builders-financial institutions nexus case. This investigation, handed over by the Supreme Court, targets builders accused of duping homebuyers through subvention schemes and an alleged nexus with banks. The searches are part of ongoing efforts to address widespread fraud in real estate projects.

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No capital gains if flat's sale price equals purchase cost: ITAT

The Income Tax Appellate Tribunal ruled that no capital gains tax applies when a property's sale price equals its purchase cost. The tribunal allowed a taxpayer's appeal, deleting a Rs 42.5 lakh addition by the tax department. This decision was based on the identical purchase and sale values and a similar ruling in the co-owner's case.

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NCLAT reaffirms project-specific insolvency proceedings against realty firms

The National Company Law Appellate Tribunal has made a pivotal assertion regarding homebuyers’ rights in insolvency cases, stipulating that disputes must be confined to the specific project where defaults have occurred. This ruling effectively shields unrelated real estate ventures from being implicated in insolvency actions.

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Portal to offer digitally signed realistic property valuation report soon in Maharashtra

Maharashtra residents will soon access digitally signed online property valuation reports via a new portal linked to the IGR website. This initiative, based on prevailing Annual Statement of Rates (ASR), aims to provide indicative market values, enabling buyers and sellers to understand property costs and registration fees in advance, promoting transparency and convenience in property transactions.

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Homebuyers 'fraud' case: ED seizes over ₹6 crore cash during raids against Earth Infrastructures

The Enforcement Directorate seized Rs 6.3 crore in cash and Rs 7.5 crore worth of jewellery from a Delhi-based real estate company, Earth Infrastructures Ltd., accused of defrauding homebuyers. The action follows multiple FIRs and a complaint from the SFIO, with funds allegedly diverted for land acquisition and routed to shell companies.

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Create robust system for affordable rental housing in Mumbai: Maharashtra CM directs authorities

Maharashtra's Chief Minister Devendra Fadnavis has unveiled an innovative plan aimed at easing the rental market in Mumbai by introducing a system for affordable housing. A specialized digital platform will create seamless access for residents, aligning available properties with their needs. The initiative ensures that all processes are guided by strict agreements and oversight.

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AstraZeneca India plans to sell 64-acre Bengaluru site for ₹3,400 crore

AstraZeneca's Indian unit is planning to sell its 64-acre manufacturing facility in North Bengaluru for an estimated ₹3,400 crore. The move is part of a global review of its manufacturing network and a broader land monetization strategy. Developers like Sattva Group, Aurobindo Pharma, and RMZ have shown interest in the prime land parcel.

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TCS picks up 20-acre land in Kolkata's New Town through 99-year lease

Tata Consultancy Services (TCS) has secured a 20-acre land parcel in Kolkata's Bengal Silicon Valley Tech Hub for over 99 years through a lease valued at Rs 94 crore. This acquisition by the IT giant underscores its commitment to expanding its presence in eastern India and strengthening its delivery capabilities in the region.

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OC scam in Gurugram: Declared ready, but buildings still lack lifts, parking

Ground visits in Gurugram's licensed colonies reveal a significant scam where occupation certificates (OCs) were issued for incomplete buildings. Structures lacking basic safety features and plaster were declared ready under a self-certification system, raising concerns about collusion and negligence. Investigations are underway, with 1,500 OCs issued between July 2025 and March 2026 now under scrutiny.

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IBBI panel suggests project-wise insolvency resolution for real estate sector

A panel suggests bankruptcy proceedings should focus only on stressed real estate projects, not the entire company. This aims to protect homebuyers in solvent projects and speed up resolutions. The Insolvency and Bankruptcy Board of India panel also recommended raising the minimum default threshold to Rs 5 crore. These changes could impact developers like Jaypee and Unitech facing insolvency.

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Centre notifies revised TOD rules for Delhi, opens 207 sq km along metro corridors for high-density housing

New rules for Transit Oriented Development in Delhi are now in effect. These regulations aim to build more homes and businesses near metro and transit lines. The policy will cover a large area, including new zones for development. Developers can build more on larger plots, with a focus on affordable housing. A single window clearance will speed up approvals.

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Revival path to open for all Sports Cities if developers in Noida submit plans

Noida Authority has lifted a ban on four Sports City projects. This decision allows for the revival of approximately 32,000 flats. The ban was imposed in 2021 due to irregularities. A Supreme Court directive led to this approval. Developers must now submit revised layouts. This brings relief to thousands of homebuyers.

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Aristo Pharma buys office space for ₹111 crore in Mumbai's Andheri West

Aristo Pharmaceuticals has acquired over 18,300 sq ft of office space across two floors in Andheri West's Parinee I for over Rs 111.26 crore. This significant outright purchase, registered on March 27, highlights sustained demand for premium commercial assets and a trend of end-users investing in owned office spaces for long-term commitment.

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Days after Noida airport launch, YEIDA offers over 950 housing plots

Yamuna Expressway Industrial Development Authority is launching a new residential scheme. It offers 973 plots near Noida International Airport. This scheme aims to meet the growing housing demand. Applications open on Monday. The draw is scheduled for June 18. This development signals rapid urban expansion and confidence in airport-led growth.

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Institutional investments in Indian real estate rise 25% to $1.6 billion in Q1 2026: Report

Institutional investments in Indian real estate surged 25% to $1.6 billion in Q1 2026, propelled by a 57% jump in domestic capital. Office assets dominated, attracting 50% of total inflows, while Delhi-NCR and Bengaluru led in regional investment. Foreign capital saw a 23% decline amid global uncertainties.

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Insolvency process against Raheja Shilas project in Gurugram to continue: NCLAT

The NCLAT has rejected Raheja Developers' request to halt insolvency proceedings for its Raheja Shilas project in Gurugram, citing unresolved issues with flat buyers. The tribunal stated that withdrawal of the Corporate Insolvency Resolution Process (CIRP) requires full settlement with buyers. The CIRP will now proceed, confined solely to the Raheja Shilas project.

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DLF Corporate Greens not ongoing project: Haryana RERA declines buyers' complaint

Haryana Rera has clarified its jurisdiction, ruling that projects completed before its establishment are not subject to registration. In a separate case, the authority upheld the finality of adjudicated disputes, dismissing a fresh compensation plea against Emaar India Ltd after a prior settlement for possession delays.

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Committee of creditors can invite land authorities in realty insolvency cases: FM

Finance Minister Nirmala Sitharaman announced that land authorities can now join Committee of Creditors meetings to expedite bankruptcy resolutions for real estate projects. The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, passed by Rajya Sabha, aims to speed up case admission and resolution plan approval, benefiting thousands of homebuyers.

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Mindspace REIT acquires 2.6 million sq ft office asset in Chennai for ₹2,541 crore

Mindspace Business Parks REIT has bought a large office property in Chennai for approximately ₹2,541 crore. This acquisition significantly boosts its presence in South India. The deal includes existing office space and new development expected by March 2027. This move increases Chennai's share in Mindspace REIT's overall portfolio. The transaction was completed under a special arrangement with its sponsor.

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Tata Realty ink pact to buy Bengaluru land from Hinduja Group for ₹2,300 crore

Tata Realty and Infrastructure Ltd (TRIL) has acquired over 38 acres in Bengaluru for approximately Rs 2,300 crore, marking the city's largest land transaction. This significant deal underscores investor confidence in Bengaluru's office market and TRIL's strategy to expand its commercial portfolio with high-quality, large-scale developments.

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