Maharashtra housing redevelopment gets stricter: Three bids, registered rehab agreements and two-year deadline

Maharashtra's revised redevelopment framework emphasizes tracking project progress and providing safeguards for housing societies. Societies are now required to obtain project management reports within two months and must evaluate three developer bids. Members will have the right to inspect records related to redevelopment free of charge, which promotes transparency in the process. Developers must sign agreements within three months, with projects expected to complete in two years.

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

ED arrests two promoters of Gurugram-based Vatika Group in homebuyers 'fraud' case

The Enforcement Directorate took action against Anil Bhalla and Gautam Bhalla, the directors of Vatika Group, arresting them on September 28. This move stems from a money laundering investigation linked to fraudulent dealings with homebuyers, prompted by a Delhi Police Economic Offences Wing FIR. Allegations focus on the failure to deliver residential plots, with around Rs 140.73 crore in payments still unfulfilled to buyers.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/Ed73bHC
via IFTTT

Noida: Logix, 3C & ATS submit revised layouts for Sports City

The Noida Authority is reigniting interest in the long-awaited Sports City projects as developers submit new layout plans. Major players like Logix Infra Developers, 3C Green Construction, and ATS Homes are involved. The Authority is now collecting public feedback for the next 15 days. A recent Supreme Court ruling opens doors for about 20,000 homebuyers. Developers promise to finalize sporting facilities in three years and residences within five.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/bXzCd8o
via IFTTT

Mumbai EOW probes Suraksha Realty promoter’s fraud allegations over Jaiprakash Infratech deal

Mumbai Police’s Economic Offences Wing is probing allegations by Suraksha Realty director Vijaykumar Mohanlal Parekh against fellow promoter Sudhir Walia over alleged cheating, forgery and criminal conspiracy in the acquisition of Jaiprakash Infratech. Parekh alleged his group’s consent was bypassed and his brother’s digital signature was used without authorisation.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/5WGbZ6l
via IFTTT

CBI files fresh chargesheet against builder-promoters in homebuyer fraud case

The Central Bureau of Investigation (CBI) has lodged a fresh chargesheet against the leaders and executives of Acme Realties, focusing on a fraudulent scheme aimed at homebuyers tied to the Acme Boulevard project in Mumbai. Findings suggest that the suspects potentially deceived homebuyers with misleading promises while unjustly benefiting financially.

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

NBCC to resume work on 16 stalled Supertech projects in January 2027

After facing numerous delays, work on 16 Supertech projects is anticipated to recommence on January 16, 2027, bringing hope to about 14,000 homebuyers awaiting their homes. NBCC plans to issue construction tenders across multiple sites in the NCR region. Though financing issues remain a challenge, the stock of unsold flats could help ease the situation.

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

Sebi bans Omaxe, five others for violating minimum public shareholding norms

The Securities and Exchange Board of India (Sebi) has taken decisive action against Omaxe and five individuals for shareholding manipulation practices. Omaxe faces a three-month ban from the securities market, while the affiliated promoter group companies are prohibited from market access for one year. Additionally, Sebi has imposed a hefty fine of Rs 1.92 crore, underlining significant violations of public shareholding norms scrutinized by the regulator.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/B5QLUDI
via IFTTT

Godrej Properties to develop Marine Lines project; MICL to recover ₹300 crore investment

Godrej Properties has entered into a development agreement for a 2.5-acre luxury housing project in Marine Lines, Mumbai, with estimated revenue potential of about ₹6,000 crore. Development rights jointly held by Man Infraconstruction and Shreepati Group have been transferred to Godrej, while MICL will recover over ₹300 crore of its investment and retain a revenue-sharing interest.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/7X0BQE1
via IFTTT

Signature Global buys 25 acres for ₹150 crore, ties up 169.22 acres in Gurugram

Signature Global has acquired 25 acres in Farrukhnagar, Gurugram, for ₹150 crore and entered into collaboration agreements for another 169.22 acres. The combined 194.22-acre development has an estimated potential of 6.77 million sq ft and GDV of ₹5,500-6,000 crore.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/o1gSZVs
via IFTTT

Bombay HC uphold builder's decision to terminate flat allotment

The Bombay High Court affirmed a developer's right to revoke Santosh Amarsingh Sandhu's housing allotment due to his failure to clear overdue payments. The court highlighted that developers cannot afford to wait indefinitely for buyers to fulfill obligations, as Sandhu did despite multiple notices. He was encouraged to explore alternative flats, yet neglected to address his financial commitments.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/HAF9Esv
via IFTTT

Anarock acquires 51% stake in DSP Design Associates for about ₹450 crore

Anarock has acquired a 51% stake in DSP Design Associates, which reported revenue of about ₹450 crore in FY26, at a valuation of around one-time turnover, Anuj Puri, founder and chairman, Anarock Group, told ETRealty. The acquisition has been funded through internal accruals.

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

Accepting delayed flat possession does not bar homebuyer from claiming interest: Allahabad HC

The Allahabad High Court reaffirmed its decision concerning a homeowner's right to interest due to the delayed possession of a flat in Noida. The ruling emerged after Antriksh Developers and Promoters Pvt Ltd contested the court's stance, insisting that restrictions from the National Green Tribunal hindered their construction efforts. However, the court dismissed these claims and instructed the developer to compensate interest for the prolonged delay in possession.

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

Shriram Properties to surpass doubling profit by FY29, explores mall-led rental income in West Bengal

With ambitious goals, Shriram Properties Ltd aims to double its net profit and sales bookings by FY29, fueled by a surge in project completions. Having reported a consolidated net profit of Rs 100.81 crore, the company is setting its sights on a realizable income of around Rs 3,000 crore. Its expansive construction pipeline spans about 50 million sq ft through FY29.

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

Max Estates to jointly develop 9.76-acre project in Ghaziabad

Max Estates has entered into a binding MoU for a proposed joint development agreement covering a 9.76-acre land parcel in Indirapuram, Ghaziabad. The project has an estimated development potential of about 1.5 million sq ft and GDV of ₹2,500-3,000 crore.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/kqdU4fy
via IFTTT

Puravankara acquires 13.44-acre land parcel in Greater Noida for ₹340 crore

Puravankara has entered the Delhi-NCR market through the allotment of a 13.44-acre land parcel in Greater Noida. The project has a saleable potential of about 4.57 million sq ft and an estimated GDV of ₹5,200 crore.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/1Ze7Pwa
via IFTTT

Runwal Enterprises’ ₹500 crore IPO to open on September 25; price band ₹290-305

Runwal Enterprises has fixed a price band of ₹290-305 per share for its ₹500 crore initial public offering. The issue will open on September 25 and close on September 29, 2026.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/9Rn1IW5
via IFTTT

Puravankara enters Delhi-NCR with 13.44-acre land parcel in Greater Noida

Puravankara has entered the Delhi-NCR market through the allotment of a 13.44-acre land parcel in Greater Noida. The project has a saleable potential of about 4.57 million sq ft and an estimated GDV of ₹5,200 crore.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/bxaACH6
via IFTTT

Uttar Pradesh cabinet clears LDA's plan to release 2,747 mortgaged Sushant Golf City plots

The state cabinet has greenlit the Lucknow Development Authority's initiative for Sushant Golf City, ensuring that registries for 2,747 mortgaged plots remain intact, thus safeguarding the interests of buyers. Despite Ansal Properties' sale of these plots without necessary approvals, the LDA is set to complete the township's development and will release plots sector by sector. Plot owners may expedite their process by submitting a guarantee to the LDA.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/RBzC5vs
via IFTTT

Supertech insolvency: NCLAT raises concern over delay in appointing IRP, slippage on deadline

The National Company Law Appellate Tribunal (NCLAT) has directed NCLT and the Insolvency and Bankruptcy Board of India (IBBI) to suggest names within a week. The IRP, once named, is also required to head the Apex Court Committee overseeing the stalled Supertech projects and chair the Project-Wise Court Committee.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/TMW6GbP
via IFTTT

MahaREAT directs Mumbai developer to pay 2% penalty, apportion sale proceeds from commercial units, execute conveyance

The Maharashtra Real Estate Appellate Tribunal mandated that the promoters of RA Residences pay a penalty and execute a conveyance deed for the residential building. In addition, they are required to distribute sale proceeds from the commercial units to the allottees, and the remaining guest parking spaces will be transferred to the society. The tribunal highlighted the importance of obtaining prior consent for any plan alterations.

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

DLF to open ₹500 crore Goa mall by March 2027, eyes over ₹150 crore annual rental income

DLF is set to develop a lavish seven lakh sq ft shopping mall in Goa by March 2027, with a projected investment of approximately ₹500 crore. The mall is forecasted to earn over ₹150 crore in annual rent and has already secured leases for seventy to seventy-five percent of its space. This undertaking is part of DLF's strategy, which includes three retail projects underway this financial year.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/1GVWehv
via IFTTT

Bombay HC sets guidelines for land title on layout with multiple buildings

The Bombay High Court has introduced fresh guidelines concerning land division in redevelopment initiatives. Upon formation, each society will gain a proportional land entitlement that is safeguarded against reductions from future plan adjustments. Moreover, builders are required to reveal any risks linked to transferable development rights. This decision seeks to address persistent conflicts surrounding land conveyance issues.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/aDyHt1A
via IFTTT

HC extends interim direction restraining allotments in Oberoi Realty's project in Gurugram till September 25

The Punjab and Haryana High Court has decided to prolong its interim order, which halts any new allotments, particularly impacting the Oberoi 360 North luxury housing project in Gurugram. The decision followed a petition from Advance India Projects Ltd challenging the director of DTCP's directive from August 17, claiming non-alignment with prior decisions. Further proceedings are set to take place on September 25.

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

Uttar Pradesh eases land-use rules, cuts conversion fees to speed up clearances

Development authorities are now authorized to modify land usage for plots up to 6,000 sqm, streamlining a process that formerly required tedious state-level approvals. This significant change not only halves the land-use conversion fees but also accelerates the approval of maps and layout plans by the GDA. As a result, construction timelines are reduced, effectively easing the financial pressures on both buyers and developers.

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

SC directs ED, Delhi Police to submit details of cases against Unitech directors

The Supreme Court has mandated that trials for Unitech directors proceed without delay, urging investigative bodies to present case particulars swiftly. Agencies are diligently tracing homebuyers' funds to ascertain their status. A dedicated court has been established to address these issues specifically, ensuring that homebuyers are not further inconvenienced and can eventually access their dream homes.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/i7F3lh8
via IFTTT

Lucknow development body to take over stalled Ansal township

The Uttar Pradesh cabinet has greenlit the transfer of a delayed project by Ansal Properties to the Lucknow Development Authority. This strategic decision is designed to assist nearly five thousand distressed homebuyers by providing them with much-needed plots or homes. To facilitate the project's completion, the authority will ensure that all outstanding infrastructure tasks within the township are addressed.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/zRFEB3J
via IFTTT

Embassy Developments to invest ₹2,000 crore in 85-acre Bengaluru housing project

Embassy Developments has launched Embassy Origins, an 85-acre residential development in North Bengaluru. The first phase includes Embassy Riverine and Embassy South Reserve, with a combined GDV of about ₹4,500 crore.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/sTR49d7
via IFTTT

Sonu Nigam sells pre-leased retail property in Mumbai's BKC for ₹18 crore

The 3,082 sq ft retail unit at Trade Centre, Bandra Kurla Complex, has been sold to SAA Estate LLP. The property is leased to Down Town 29 at a monthly rent of ₹20 lakh, translating to ₹2.4 crore in annualised rental income.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/3iJD64f
via IFTTT

Noida authority orders structural audit of Great Value Sharnam

In response to continuous complaints, the Noida Authority has directed a structural audit for the Great Value Sharnam project. Residents have noted peeling plaster and exposed reinforcement bars across various towers and in the basement area. Upon inspection, evidence of water leakage and seepage on columns and beams was discovered. The developer is obliged to inspect and repair any structural issues immediately.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/PXO0W7M
via IFTTT

Suraksha Group to invest ₹3,000 crore to complete pending Jaypee towers by September 2028

Suraksha Group, which acquired Jaypee Infratech, has invested about ₹1,500-2,000 crore so far in construction and expects to invest another ₹3,000 crore to complete the remaining towers by September 2028. The company has also outlined plans for three integrated townships across about 465 acres.

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

Haryana RERA orders Chintels India to reinstate cancelled plot

The Haryana Rera has ordered Chintels India to restore a previously cancelled plot after dismissing the developer's claim of force majeure concerning land attachment. Buyers expressed a preference to proceed with the project instead of accepting a refund. Rera decided that allottees could either choose to exit the agreement or continue, including the option for delay interest.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/3GrdRvI
via IFTTT

Booking Holdings leases 1.11 lakh sq ft office space in Bengaluru

Booking Holdings has leased over 111,525 square feet of office space in Bengaluru. This expansion increases their total office footprint in the commercial tower to 2.65 lakh square feet. The company secured this new space through a five-year lease agreement with RMZ Hotels. This transaction highlights continued demand for large office spaces from global companies. Bengaluru remains a key market for multinational corporations expanding their operations.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/VSTb5ni
via IFTTT

Redevelopment gains can’t be taxed in hands of CHS, rules Mumbai ITAT

The Mumbai ITAT has annulled a contentious Rs 18.4 crore tax addition for a housing society, stating the society served merely as a representative for its flat owners. The tribunal observed that the transactions reported under the society's PAN weren't its own revenues, given that no sale proceeds appeared in its bank account. This decision will benefit housing societies engaged in redevelopment projects.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/8k5TXqs
via IFTTT

CBI conducts searches at 12 locations in builder banking nexus case; five new FIRs filed

The CBI carried out searches at twelve sites across three cities, resulting in the registration of five fresh fraud cases against real estate developers. This initiative aligns with Supreme Court directives aimed at addressing the concerns of homebuyers. During these searches, the agency seized crucial incriminating documents and digital devices, escalating the total number of cases against builders to fifty-five.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/We6ZhjA
via IFTTT

Relief for 1,600 buyers as SC clears path for stalled Sushant Aquapolis project resolution plan

The Supreme Court has given the green light for the Sushant Aquapolis project to move forward. One City Infrastructure Pvt Ltd is now allowed to proceed with development without needing to assert land ownership. Following this court intervention, the Ghaziabad Development Authority has also approved the updated building plan.

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

Delhi HC refuses to quash criminal case against Supertech executives

The existence of a criminal conspiracy is ordinarily a matter which is required to be inferred from the conduct of the parties and the circumstances brought on record, the HC said. Direct evidence of an agreement is seldom available, it said, adding that whether the material ultimately establishes a meeting of minds between the accused persons is a matter to be examined upon appreciation of the evidence and cannot ordinarily be conclusively determined in proceedings in the high court.

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

Mumbai ITAT allows tax relief on two flats bought as one home

Mumbai's Income-Tax Appellate Tribunal has declared that two flats can be categorized as a single residential house. This pivotal decision paves the way for taxpayers to leverage deductions under Section 54F of the Income-Tax Act. By emphasizing the functional use of the properties, the tribunal ensures that those who invest in multiple residences for their families can take full advantage of this beneficial tax provision.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/R259YJg
via IFTTT

M3M emerges as highest bidder for Noida land parcels at ₹1,850 crore

In a highly competitive bidding process, M3M has secured a 12.5-acre mixed-use land parcel in Sector 108 for approximately Rs 1,850 crore, significantly exceeding the reserve price of Rs 835 crore. The robust developer interest this land has generated illustrates the lucrative potential of mixed-use properties in Noida, with established players like DLF Ltd also vying for the prime location.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/dkhQ1bu
via IFTTT

SC rejects proposal of Parsvnath Developers for homebuyers, asked it to file another

The Supreme Court turned down Parsvnath Developers' request regarding flat possession and repayment. The court cautioned that a High-Powered Committee could be appointed if the builders don't offer an acceptable proposal. Additionally, a plea from the Insolvency Resolution Professional to access a frozen bank account was denied. The bench emphasized the ongoing struggles faced by homebuyers, linking them to numerous cases involving delayed possessions against the builder.

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

We want to work towards predictive analysis of projects: Parneet Sachdev, Haryana RERA-Panchkula

Parneet S. Sachdev, chairman, Haryana RERA-Panchkula, said RERA 2.0 should move real estate regulation from post-facto complaint resolution to technology-led monitoring. He said artificial intelligence, real-time project data and predictive analysis can help regulators identify stress in projects much before they fail.

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

Delhi CM orders immediate sealing of unauthorised fifth floors

In a bid to enhance safety, Delhi authorities have swiftly ordered the sealing of structures with unauthorized fifth floors. As part of this initiative, municipal officials are ramping up their efforts to identify vulnerable and aging buildings throughout the city. Consequently, five officials have faced suspension due to a recent tragic collapse that resulted in seven fatalities.

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

Sachin Tendulkar buys 3.86-acre land parcel in Lonavala for ₹70 crore

Cricketer Sachin Tendulkar has acquired over 3.9 acres of land in Lonavala for a combined ₹70 crore through three registered transactions. The parcels, spanning 15,601.78 sq m, include an existing built-up structure. Tendulkar paid about ₹4.20 crore in stamp duty, according to registration documents accessed through Zapkey.

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

Arnya RealEstates launches ₹750 crore AIF with Casagrand

Arnya RealEstates Fund Advisors has launched Arnya Real Estate Fund III – Preferred Capital, a Category-II AIF with a target corpus of ₹750 crore. The fund, launched in partnership with Casagrand Premier Builder, will invest in residential projects across Chennai, Bengaluru and Hyderabad.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/Ugd9IT1
via IFTTT

Mumbai: For flouting pollution norms, BMC to revoke builders’ project permission

Responding to escalating air quality concerns, the BMC has implemented tough penalties for construction sites that fail to adopt effective air pollution mitigation strategies. Architects and developers could face suspension of licenses or revocation of development permissions if they do not comply. Additionally, a 100% penalty will be imposed on applicable premium rates for any unauthorized work conducted after a stop-work notice.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/gpvW4kA
via IFTTT

No tax on value of new property under redevelopment agreement: ITAT

A tax tribunal has sided with property owners involved in redevelopment disagreements, annulling a significant Rs 1.3 crore tax increment on a newly developed property. The tribunal emphasized that taxation under Section 56(2)(x) applies only when the property is actualized, meaning it cannot be taxed while still under construction. This ruling provides crucial tax relief for homeowners navigating complex redevelopment contracts.

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

CBI report flags deviations from DLF Primus brochure plan in Gurugram: SC

The Supreme Court pointed out significant variances from the original concept of DLF Primus, with a critical 24-meter corridor largely absent from the project. Much of the area is dedicated to landscaped spaces and resident parking. Consequently, the court has urged the CBI to promptly advance its preliminary inquiry and requires the Haryana government to ensure that future constructions meet legal requirements.

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

DTCP to take over OSB The Venetian land in Gurugram after project licence cancellation

Gurgaon authorities are officially seizing control of land due to the cancellation of a housing project licence. To prevent any unauthorized sale or leasing arrangements pertaining to the halted project, the department will issue public notices informing potential buyers of the current status. Updated revenue records will confirm the licence cancellation and subsequent land ownership. Allottees are strongly cautioned against making any further payments to the coloniser.

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

Civil aviation ministry looks at simplifying approvals for buildings near airports

The Civil Aviation Ministry is actively seeking to streamline building approval processes in proximity to airports. Urban local authorities might soon begin issuing no-objection certificates for construction ventures. To support effective planning, clear guidelines on permissible building heights will be made available promptly. This initiative aims to create a seamless, automated, and efficient NOC system, benefiting both the general public and the construction sector while prioritizing aviation safety.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/8owQmWK
via IFTTT

ITAT rules tax officer cannot pin entire stamp-value gap on one co-owner

The Mumbai ITAT stated that one co-owner cannot be held accountable for the total tax discrepancy. The tribunal highlighted that the ownership shares had been explicitly recorded. The lack of action from tax authorities does not validate the taxation of just one owner’s share. Tax officers must conduct a proper review when disputing stamp-duty valuations. This ruling brings much-needed clarity to property buyers navigating valuation disputes.

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

Construction of 16 stalled Supertech projects lagging, NCLAT seeks status report from NBCC

The NCLAT has called for a status report regarding the delayed projects of Supertech. Within a tight deadline of two weeks, both NBCC and the Apex Court Committee are expected to provide updates on their progress. Homebuyers have voiced their worries about the ongoing delays in the project timelines. NBCC was appointed to execute sixteen Supertech developments, yet construction has stalled for nearly twenty-one months.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/gKH8kIC
via IFTTT

Orris Infrastructure, Godrej Properties settle Godrej Air dispute; Bombay HC orders Amit Gupta’s release

Orris Infrastructure and Godrej Properties have reached a settlement in the dispute concerning the Godrej Air project in Gurugram. The Bombay High Court has directed the unconditional release of Orris Infrastructure managing director Amit Gupta, while keeping the petition for quashing of the FIR for further consideration.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/6Z2pPvY
via IFTTT