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Latest StoriesRegulatory

SC Panel: All Supertech Realtors’ Deals Require Approval

NEW DELHI: An empowered committee appointed by the Supreme Court has announced that prior permission is necessary for any real estate transactions involving Supertech Realtors at Noida. Earlier this month, the empowered committee issued a public notice underlining restrictions on the sale or transfer of units within the Supertech Realtors Pvt Ltd (SRPL) project. Supertech Realtors is developing ‘Supernova,’ a mixed-use real estate project in Sector 94, Noida, which includes residential, commercial, office spaces, studio apartments, service apartments, and shopping centers. Approximately 2,800 property buyers are currently affected by this project. In the notice, the panel, established in December last…

Latest StoriesRegulatory

ITAT Rules: Registered Sale Deed is Sacred

CHENNAI: A registered sale deed carries a strong presumption of authenticity and validity. The Income Tax Appellate Tribunal (ITAT) in Chennai highlighted that registration is a significant act that confers a high level of trust to the document. The tribunal, consisting of judicial member Aby T Varkey and accountant member S R Raghunatha, made this remark while overturning an order from an assessing officer who dismissed a sale deed as proof for the purchase of a flat, which also impacted the long-term capital gains exemption from the sale of a property and subsequent reinvestment in another residential property. This case…

IndustryLatest Stories

Bengaluru Housing Crisis Hits Breaking Point

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA) has instructed the Bengaluru Development Authority (BDA) to facilitate the establishment of an Association of Allottees for the Gunjuru Housing Project Phases 1 and 2. This involves transferring common areas and essential title documents to the Association, as per legal requirements. During proceedings concerning a petition by Narayan Shetty, an allottee, K-RERA emphasized that Phases 1 and 2 of the project are subject to regulation under Section 3 of the Act. The order mandates that the promoter/developer register the project within two weeks and submit an application for an occupancy certificate within…

Latest StoriesResidential

Godrej family purchases 2 Worli apartments for ₹294 crore

Tanya Dubash, a scion of the Godrej family and executive director at Godrej Industries Group, has acquired two luxury sea-facing apartments in a premium residential tower currently under construction at Mumbai’s Worli Sea Face for over ₹294 crore, according to property registration documents obtained by RealtyDailyNews. The apartments have been valued at more than ₹2.5 lakh per square foot, placing them among the highest-priced residential properties in the nation based on this rate. The two units, located on the 19th and 20th floors of the ultra-luxury tower Naman Xana, each boast a carpet area of approximately 5,812 sq ft, complemented…

CommercialLatest Stories

NABARD Acquires Mumbai Commercial Complex Leasehold for ₹351 Cr

Representative AI image NEW DELHI: NABARD, the premier rural development financial body, has acquired leasehold rights for a commercial complex at BKC, Mumbai for ₹351 crore, as reported by CRE Matrix. According to real estate analytics firm CRE Matrix, the National Bank for Agriculture and Rural Development (NABARD) secured these rights from MTNL for ₹350.72 crore. The registration deed was finalized in May 2026, incurring a stamp duty exceeding ₹21 crore, as confirmed by CRE Matrix after reviewing the documentation. The original lease of 80 years was issued by the Mumbai Metropolitan Region Development Authority (MMRDA) to MTNL, starting from…

IndustryLatest Stories

Rohit Gupta named MD at Mantra Group; Sandeep Ghosh is Trilegal CEO

NEW DELHI: Mantra Group has appointed Rohit Gupta as managing director, while Saransh Dey has been designated as chief executive officer (CEO) for the Mumbai Region. In his new position, Gupta will steer the company’s strategic direction and enhance its market operations. Dey will focus on the company’s business and operations within the city, prioritizing execution and customer engagement. In another announcement, Trilegal, a law firm, has appointed Sandeep Ghosh as its CEO. The firm will continue to operate under its partnership structure, with the management committee and board overseeing the strategic direction and governance. As CEO, Ghosh aims to…

IndustryLatest Stories

Arihant Superstructures’ FY26 Profit Falls 15.79% to ₹46.04 Cr

NEW DELHI: Arihant Superstructures has reported a 15.79% decline in its net consolidated profit for the financial year 2025-26. The profit after tax for FY26 was ₹46.04 crore, compared to ₹54.67 crore in FY25, as noted in a BSE filing. The company’s net consolidated total income for FY26 was ₹556.01 crore, reflecting a growth of 10.35% from ₹503.87 crore in FY25. In Q4 FY26, net consolidated total income rose by 17.38% to ₹181.99 crore, up from ₹155.05 crore in the same quarter last year. Profit after tax increased by 5.77% to ₹11.91 crore, compared to ₹11.26 crore in the corresponding…

IndustryLatest Stories

Omaxe’s FY26 Net Loss Increases to ₹696.80 Crore

NEW DELHI: Omaxe has reported a net consolidated loss after tax amounting to ₹696.80 crore for the financial year 2025-26, compared to a loss of ₹685.40 crore in FY25, as noted in a BSE filing. The company’s total net consolidated income for FY26 was ₹1,339.74 crore, reflecting an 18.16% decline from ₹1,636.97 crore in FY25. In Q4 FY26, net consolidated total income saw a significant dip of 31.95%, coming to ₹376.31 crore, down from ₹553.03 crore in the same quarter last year. For Q4 FY26, Omaxe recorded a loss after tax of ₹191.42 crore, compared to a loss of ₹148.67…

CommercialLatest Stories

BuzzWorks Opens 16,000 Sq Ft Office in Mysuru

NEW DELHI: BuzzWorks, the managed office and co-working division of Brigade Group, has officially launched a new 16,000 sq. ft. center on Vinoba Road in Mysuru. The facility can accommodate over 500 workstations and is situated within the Brigade Vantage commercial complex, which spans 1.3 lakh sq ft. Plans are in place to further expand the center by an additional 16,000 sq ft in the near future. Siddharth Verma, the business head, remarked, “This launch is a part of our broader multi-city expansion strategy that we intend to execute during this financial year.” In addition, BuzzWorks is set to expand…

Latest StoriesResidential

India’s Residential Rents Jump 14% in Early 2026: Magicbricks

NEW DELHI: According to the Magicbricks Rental Index, average residential rents in India rose by 14% year-on-year and 2% quarter-on-quarter in the January-March 2026 period. During this period, rental demand increased by 0.6% quarter-on-quarter, while the supply grew by 9% sequentially and 12% year-on-year, spurred by the completion and handover of new projects in developing areas. The report indicates that the market is approaching a more balanced state, with new supply moderating rental increases in key cities. The ₹10,000-20,000 monthly rental bracket constituted 36% of total demand, followed by the ₹20,000-30,000 range at 22%. Among residential configurations, 2BHK units continued…