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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Maharashtra deputy CM sets three-year deadline for housing projects

Maharashtra Deputy Chief Minister Eknath Shinde announced a three-year deadline for developers to complete housing and redevelopment projects. Builders adhering to timelines and quality will receive priority for future government contracts. Shinde emphasized the government's commitment to clearing administrative hurdles and accelerating cluster redevelopment, aiming to make Mumbai and Thane slum-free with quality housing for citizens.

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West Bengal government sends three-page SOP form to builders for construction audit

Kolkata's state government has issued a new Standard Operating Procedure (SOP) requiring builders to submit detailed project information to borough offices, a move welcomed by major developers for its decentralised approach. This initiative aims to prevent future incidents like the Taratala warehouse collapse. Developers are cooperating fully, ensuring key personnel are available for site inspections to expedite project clearances and resume construction work promptly.

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Hyderabad homebuyers left in limbo as over 60,000 flats miss delivery timeline

Thousands of Hyderabad homebuyers face significant delays, with nearly 63,000 units now expected to be handed over at least a year later than planned. Disruptions from the Middle East conflict, impacting material imports and escalating costs, coupled with labour shortages, are pushing project completion dates back. Many buyers are burdened by dual EMI and rental payments, awaiting their dream homes.

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UP RERA issues notices to promoters of 76 projects over non-filing of annual audit reports

Promoters are required to upload annual audit reports of project accounts on the UP RERA portal within six months from the end of a financial year. Non-filing attracts a late fee of ₹25,000, while violation of relevant RERA provisions can attract penalty of up to 5% of the estimated project cost.

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Hero MotoCorp, WeWork lease 3.45 lakh sq ft office space at Worldmark 6 in Delhi

Hero MotoCorp has leased about 2.31 lakh sq ft, while WeWork India has leased about 1.14 lakh sq ft at Worldmark 6, Aerocity, Delhi. The combined estimated rental payout over the lease tenure is about ₹922 crore, according to documents accessed by Propstack.

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NCLT approves Mantra Properties’ resolution plan for stalled project in Worli

The NCLT Mumbai Bench has approved Pune-based Mantra Properties & Developers’ resolution plan to revive a stalled Worli residential project in Mumbai with an estimated revenue potential of around Rs 2,000 crore.

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Uttar Pradesh receives investment proposals worth over ₹50,000 crore

More than 15 companies signed MoUs with the Uttar Pradesh government during the Uttar Pradesh Global Growth Dialogue 2026 in Bengaluru. The state is targeting 40 million sq ft of Grade-A office space and 500 GCC units by 2031.

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Sealing drive leaves young execs 'homeless'

Young professionals in Gurgaon's DLF-3 faced sudden displacement as authorities resumed a sealing drive against illegal constructions. Residents of paying guest accommodations and rented flats were given mere hours to pack and leave their homes, often discovering the crackdown upon returning from work. This action follows court orders targeting buildings violating approved plans and operating unauthorized PGs.

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Bengaluru’s next decade to be driven by infrastructure-led growth: Shriram Properties' CMD

The Shriram Properties Chairman and Managing Director said Bengaluru remains India’s fastest-growing urban centre, driven by talent, employment generation and infrastructure investments that will unlock new real estate opportunities across the city.

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SRA identifies 18 more clusters across Mumbai region for redevelopment

The Slum Rehabilitation Authority (SRA) has identified 18 more slum clusters across the Mumbai Metropolitan Region for redevelopment under Maharashtra’s Slum Cluster Area Redevelopment Scheme, buoyed by strong investor interest in its pilot project in Andheri (West).

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Can’t delay conveyance over future TDR use: Bombay HC

The Bombay High Court has ruled that housing societies can receive unilateral deemed conveyance of land, even if future development potential on public amenity plots is involved. Justice Sandeep Marne stated that conveyance shouldn't be delayed until the municipal corporation acquires such land. The court modified a previous order, directing conveyance of four acres instead of five, while allowing the builder to claim benefits like TDR for reserved land portions.

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Tech Mahindra leases four lakh sq ft office space in Hyderabad

In a major real estate development, Tech Mahindra has secured 4 lakh sq ft of office space in Hyderabad with a 10-year lease, reinforcing the city's position as a tech hub. This decision reflects the vibrant demand for premium office spaces among technology firms. The company's investment highlights Hyderabad's attractiveness as a primary location for large corporations looking for seamless expansion and reliable long-term occupancy.

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Tamil Nadu government halts ₹2,000 crore Brigade's housing project near Pallikaranai Ramsar site

Construction on Brigade Enterprises' Rs 2,000-crore housing project in Perumbakkam has been halted. The Tamil Nadu government found work began without mandatory permission from the Tamil Nadu State Wetland Authority. The project is alleged to be within the Pallikaranai Ramsar Wetland Site. The environmental clearance was revoked. Brigade Enterprises plans to appeal the order.

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Homebuyers bear the brunt as property registration stuck over deed workers’ strike in NCR

Homebuyers in Greater Noida face significant delays in property registration due to an ongoing strike by lawyers and deed writers protesting the UP government's e-registration initiative. Despite a clarification limiting e-registration, the deadlock persists, leaving hundreds of buyers unable to legally own their purchased properties and incurring financial burdens.

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Target Corp leases 8.3 lakh sq ft office space in Bengaluru for 10 years

US retail giant Target Corporation secures a significant office space in Bengaluru. The company will occupy over 8.3 lakh square feet at Embassy Manyata Business Park. This long-term lease, valued at approximately Rs 1,250 crore, highlights the growing presence of global capability centers in India's tech hub. The deal underscores sustained demand for Grade A office spaces in Bengaluru.

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Subhash Chandra's Delhi bungalow sold for ₹1,260 crore

Essel Group chairman Subhash Chandra is selling a prime bungalow in Lutyens' Delhi for ₹1,260 crore. This deal is one of the most expensive property transactions in India. The property was bought in 2015 for ₹304 crore. Deal formalities are expected to conclude by December 30, 2026. Other high-value deals are also underway in the exclusive Lutyens' Bungalow Zone.

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ED searches at 17 locations in corporate insolvency process case

The Enforcement Directorate conducted searches across Maharashtra and Delhi in a money laundering probe linked to alleged irregularities in a corporate insolvency resolution process. The investigation targets Suraksha Asset Reconstruction Company, Suraksha Realty, Khyati Realtors, their associates, and a former YES Bank employee, focusing on fraudulent loan grants and asset takeovers.

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ED attaches fresh assets worth ₹503 crore of Raheja Developers

The Enforcement Directorate has attached fresh assets worth approximately Rs 503 crore in a money-laundering probe against Raheja Developers and its promoter, Navin M Raheja. This action is part of an investigation into alleged fraud against homebuyers, with the agency claiming substantial funds were diverted. The total value of attached assets now stands at around Rs 1,617.29 crore.

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SC agrees to hear plea to formulate scheme concerning flats under subvention plan

The Supreme Court has agreed to hear a plea demanding a scheme where builders and lenders share equal loss if subvention plan flats aren't delivered. This comes after a homebuyer alleged being forced to pay EMIs for a non-delivered flat. The court also sought a structured debt-relief plan for stalled projects.

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Embassy Group calls REIT petition 'recycled claim'; Bombay HC grants Sebi six weeks to examine representations

The response came after a Division Bench of Justices R I Chagla and Farhan P Dubash recorded SEBI's statement that it was examining representations submitted by petitioner Chayan Upadhyay regarding whether Respondent including Embassy Property Developments Pvt Ltd, its Directors satisfy the "fit and proper person" criteria under the SEBI (Real Estate Investment Trusts) Regulations, 2014, read with Schedule II of the SEBI (Intermediaries) Regulations.

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NGO writes to Tamil Nadu CM to scrap approvals for Brigade's project in Perumbakkam

An NGO has petitioned the state government to cancel approvals for a residential project in Perumbakkam. Arappor Iyakkam alleges the site is within the protected Pallikaranai marshland. The NGO states construction violates wetland rules and a Supreme Court order. They demand immediate stoppage of work and action against officials who granted permissions.

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Casagrand Premier Builder's ₹1,220-crore IPO get Sebi's green light

Casagrand Premier Builder has received approval from Sebi to launch its initial public offering. The company plans to raise Rs 1,220 crore through this IPO. Funds will be used for debt repayment and general corporate purposes. The real estate firm is a prominent developer in Chennai and other cities. The shares will be listed on BSE and NSE.

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About 5.40 lakh homes scheduled for delivery in 2026 across top seven cities: Anarock

MMR, Pune and Bengaluru together account for about 70% of the homes scheduled for completion in 2026. Anarock said a prolonged Middle East conflict could add pressure on delivery timelines through higher logistics costs and construction material inflation.

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Reliance Industries-led consortium wins bid for 101-acre Mumbai slum redevelopment project

A Reliance-led consortium has secured the bid for the massive Juhu Galli slum redevelopment in Mumbai. This project will build over 28,000 homes for residents. The Maharashtra government's cluster redevelopment policy guides this initiative. The developer must provide significant financial support for resident transit accommodation. This marks a major step in large-scale slum redevelopment in the city.

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NCLT admits insolvency plea by 176 Raheja Developers’ Revanta buyers over delayed handover

The National Company Law Tribunal (NCLT) has admitted an insolvency petition against Raheja Developers' Revanta project in Gurugram. 176 homebuyers, who collectively paid over Rs 137 crore, filed the petition citing significant delays in possession beyond promised timelines. The tribunal found a prima facie case of default, noting unhonored commitments and non-compliance with regulatory directions.

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Flat buyers entitled to interest under RERA for each month’s delay: Bombay HC

Bombay High Court ruled that homebuyers have an unqualified right to receive monthly interest for delayed possession under Rera. Justice Madhav Jamdar emphasized the law's intent to protect buyers from developer delays, stating they are unconditionally entitled to interest until possession is granted. The court cited buyers' vulnerable position as financiers of projects.

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ED attaches Rs 100 cr worth properties in Jaypee, claims Gaur laundered them

In a significant crackdown on financial misconduct, the Enforcement Directorate has seized assets worth Rs 100 crore from two real estate firms, including Jaypee Infratech Ltd (JIL). Authorities accuse JIL and its leadership of misappropriating homebuyers' investments. Investigations have unveiled a staggering Rs 33,000 crore was diverted from the Jaypee Wish Town projects for purposes unrelated to construction.

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Uttar Pradesh government to simplify laws governing RERA

Uttar Pradesh Chief Minister Yogi Adityanath has directed officials to simplify legal provisions for corporate restructuring, LLPs, and RERA real estate transactions to align with economic needs. He emphasized making the Stamp and Registration Department transparent, technology-driven, and citizen-centric, akin to passport service centers, to enhance ease of doing business and investor confidence.

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CBI files charge sheet against Ninex Developers, its director

The CBI has filed a charge sheet against Ninex Developers Ltd and its director for alleged fraudulent activities in a Gurugram housing project. This marks the CBI's 11th report in builder-banker nexus cases, where thousands of homebuyers were reportedly cheated through deceptive promises and misleading representations.

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Incuspaze acquires iKeva

Managed workspace provider Incuspaze has acquired iKeva in a 100% buyout, adding approximately ₹100 crore to its revenue. This strategic move expands Incuspaze's portfolio by five lakh sq ft across Hyderabad and Bengaluru, with plans for further growth and a potential IPO within three years.

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Noida: Highrise fires reveal grey areas in society safety after handover is done

A recent fire in Noida's Ivy County high-rise has highlighted critical gaps in fire safety systems for tall residential buildings. Residents and experts are calling for stricter enforcement of fire norms, regular audits, and investment in modern rescue technology, as current firefighting equipment struggles to reach upper floors.

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Truhome Finance, Veegaland Developers get Sebi nod for IPO

Truhome Finance's proposed IPO comprises a fresh issue of equity shares worth Rs 1,500 crore and an offer-for-sale (OFS) aggregating to Rs 1,500 crore by promoter Mango Crest Investment. Veegaland Developers, a part of the V-Guard Group, plans to raise Rs 250 crore through an entirely fresh issue of shares. There is no OFS component in the proposed issue.

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Were officials who cleared illegal buildings ever held accountable, asks Telangana HC

The Telangana High Court questioned officials regarding approvals for illegal constructions on government land. Residents of Patelguda village had their homes demolished by HYDRAA. A later survey confirmed the lands were private patta lands. Despite this, municipal authorities are refusing building permissions. The court has directed respondents to file counters and will hear the matter again.

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UP-RERA says over 1.15 lakh units available across Uttar Pradesh

UP-RERA has advised homebuyers and investors to make property purchase decisions after verifying project details and assessing their financial capacity. The authority said more than 1.15 lakh residential and commercial units are currently available across Uttar Pradesh, and buyers should not act under pressure created by claims of stock shortage or imminent price hikes.

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Delhi home minister says buildings lacking fire safety NOC, other approvals to be sealed

Following a fatal fire in Malviya Nagar, Delhi Home Minister Ashish Sood announced that all buildings lacking required fire safety and other permissions will be sealed. An immediate city-wide enforcement drive and a crackdown on illegal hotels have been ordered. The tragedy highlighted serious violations at a B&B establishment, prompting a comprehensive inspection of similar facilities.

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Kotak Alts closes fourteenth real estate fund at nearly $1 billion

Kotak Alternate Asset Managers has closed its fourteenth real estate fund at nearly $1 billion, backed by commitments from ADIA and NPS Korea. ADIA has made an anchor commitment of over $675 million, while NPS Korea has made its first investment in Indian alternative assets through the fund.

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ED arrests Earth Infrastructures' promoters in ₹2,004-crore fraud case

Four promoters of Earth Infrastructures Ltd. were arrested by the Enforcement Directorate in a Rs 2,004-crore homebuyer fraud probe. Over 19,000 buyers and investors were allegedly defrauded as projects remained incomplete. The ED claims Rs 467 crore was siphoned off, with proceeds used to acquire assets. Investigations stem from Delhi Police FIRs and an SFIO complaint.

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Adani Properties highest bidder for MHADA’s Worli, Bandra redevelopment projects

Adani Properties has emerged as the highest bidder for MHADA’s cluster redevelopment projects at Adarsh Nagar in Worli and Bandra Reclamation, while a consortium comprising Hanura Realty, Chandak Realtors, Premsagar Infra Realty and Vantier Realty has emerged as the highest bidder for the S.V.P. Nagar project in Andheri West.

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ED arrests real estate businessman Vikram Wadhwa in ₹645-crore IDFC First Bank 'fraud' case

The ED has arrested real estate businessman Vikram Wadhwa, the third arrest in a money laundering probe involving Rs 645 crore embezzled from Haryana government, Chandigarh administration, and two schools. Wadhwa allegedly received over Rs 70 crore in crime proceeds and played a key role in layering and concealing laundered funds.

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