Enforcement directorate searches premises linked to Imperial Group in Himachal, Delhi

The Enforcement Directorate (ED) in Shimla has conducted searches at six locations in Himachal Pradesh and Delhi, targeting the Imperial Group and its chairman, Manavinder Singh, along with his wife and associates. This action, under FEMA, 1999, is in response to allegations of undisclosed foreign assets and investments exceeding Rs 80 crore.

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Maharashtra may soon get independent authority to oversee redevelopment projects

Maharashtra's housing department is nearing a decision on establishing an independent authority, mirroring MahaRERA, to oversee redevelopment projects. This move addresses the growing demand for a transparent and accountable framework, fueled by increasing redevelopment initiatives. The proposed authority aims to standardize processes, resolve disputes, and ensure financial facilitation, ultimately protecting the interests of housing society members.

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Emaar Properties not to sell stake in Indian entity, may form JV with big firms

Dubai-based Emaar Properties has announced it will not sell stakes in its Indian entity, Emaar India. Instead, the company is exploring a potential joint venture with major Indian business houses, including the Adani Group. Emaar entered the Indian market in 2005 and later decided to end its joint venture with MGF Development in 2016.

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Hero Realty buys 8.71 acres of land in Mohali for ₹262.75 crore

Hero Realty, through Vikas Parks Pvt. Ltd., has acquired 8.71 acres in Mohali's Sector 99 for Rs 262.75 crore via GMADA auction, planning a new residential project. Building on the success of its Hero Homes project in Sector 88 Mohali, the company aims to strengthen its presence in the Tricity market.

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Former director of Lodha Developers arrested in fraud case

Rajendra Lodha, a former director of Lodha Developers Ltd, was arrested for allegedly defrauding the company of Rs 85 crore. He misused his position through fraudulent land deals and selling company land at deflated prices. The company stated Lodha resigned on August 17, 2025, after an ethics review and maintains a zero-tolerance policy towards misconduct.

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SC to hear pleas for review of verdict on grant of environmental clearances to projects

The Supreme Court is set to review petitions challenging its May verdict that prohibited retrospective environmental clearances. Numerous firms, including PSU Steel Authority of India Ltd, are seeking modifications or clarifications. The court has issued notices and scheduled a hearing for October 7, emphasizing the importance of upholding environmental protection and addressing violations.

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Raheja Universal buys back headquarter for ₹211 crore

Raheja Universal has reacquired its former corporate headquarters, Raheja Centre-Point, for ₹211 crore. The five-story commercial building, originally developed by Raheja Universal in 2004, was sold to HDFC in 2020 as part of a portfolio realignment. Following HDFC's merger with HDFC Bank, Raheja Universal successfully bid to buy back the property.

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