Category: Latest Stories

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Latest StoriesRegulatory

Ghaziabad Forum Orders Builders to Refund Buyer ₹7 Lakh

GHAZIABAD: The District Consumer Disputes Redressal Commission has ordered two real estate developers to refund a total of ₹7 lakh, plus interest, to a homebuyer. This ruling was made after the buyer did not receive possession of a flat booked back in 2008 due to significant project delays. The commission has also imposed a ₹10,000 penalty on each developer—Ghaziabad-based M/s Shreya Developwell Private Limited and Delhi-based M/s Sangwan Heights Private Limited—requiring compliance within 30 days. The ruling, delivered on April 17 by Commission President Anil Kumar Pundir and members Shailja Sachan and RP Singh, stems from a complaint filed by…

Latest StoriesRegulatory

Allahabad HC Halts Uttar Pradesh Housing Land Acquisition Plans

LUCKNOW: The Allahabad High Court’s Lucknow bench has temporarily halted the land acquisition proceedings for various projects initiated by the Uttar Pradesh Awas Evam Vikas Parishad (UPAEVP) in Ayodhya. The court has instructed all involved parties, including the state government and district authorities, to maintain the current conditions at the disputed sites. The next hearing is scheduled for Thursday. A division bench, including Justices Rajan Roy and Manjive Shukla, issued the order in response to a batch of 11 writ petitions. During the hearing, the petitioners completed their arguments, but representatives from the housing and urban development department, the Ayodhya…

CommercialLatest Stories

Brookfield India REIT Secures ₹2,600 Crore in Placement

NEW DELHI: Brookfield India Real Estate Trust (Brookfield India REIT) has successfully raised around ₹2,600 crore through an institutional placement of units, which includes a ₹1,125 crore investment from 360 ONE Asset in one of its prominent office assets located in Bengaluru. According to a regulatory filing, the REIT allocated over 8.04 crore units to eligible institutional investors at an issue price of ₹323 per unit, which is a 2.1% discount compared to the floor price of ₹329.94 per unit. In another development, Arliga Ecoworld Business Parks, a special purpose vehicle (SPV) of Brookfield India REIT, completed the equity shares…

Latest StoriesRegulatory

Mumbai Court Grants Anticipatory Bail to Builder Sumit Jain

MUMBAI: The Mumbai Sessions Court has granted anticipatory bail to builder Sumit Jain in connection with an alleged fraud case involving the Lalbaug Redevelopment Project, citing it as a civil dispute. Special Judge VD Kedar approved bail for Jain, 46, a major partner in Poonam Infra, in response to an FIR filed by a beautician at the DB Marg Police Station. This case relates to two flats on the 21st floor that she and her husband booked in 2011 for Rs 1.7 crore. The allegations indicate that Jain and his firm persuaded the complainant to invest in flats in the…

Latest StoriesRegulatory

NCLAT Delays Ruling on Vedanta’s Challenge to Adani Bid for JAL

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has reserved its ruling on Vedanta’s two petitions regarding the acceptance of Adani Enterprises’ bid to acquire the financially distressed Jaiprakash Associates Ltd (JAL) via insolvency proceedings. The hearing concluded with a two-member NCLAT bench, led by Chairperson Ashok Bhushan and Member Technical Barun Mitra, after considering arguments from Vedanta and various respondents, including the Resolution Professional, the Committee of Creditors (CoC), and Adani Enterprises. The court has requested both parties to submit their written arguments within two days. Vedanta’s attorney questioned the evaluation criteria used by JAL lenders, who chose…

CommercialLatest Stories

Bengaluru Metro Pink Line to Boost 5-7 Million Sq Ft Office Demand

File Photo NEW DELHI: Bengaluru’s growing metro network, especially the soon-to-be-launched Pink Line and the recently inaugurated Yellow Line, is predicted to spur a demand for 5-7 million sq ft of office space over the next two years, according to a report by Colliers. The demand is expected to be focused in key micro-markets including central business districts (CBD), secondary business districts (SBD), and peripheral areas like Electronic City, facilitated by enhanced connectivity and shorter commute times. The report highlights that a similar amount of new Grade A office space, around 5-7 million sq ft, is anticipated to be developed…

IndustryLatest Stories

India’s Q1 2026 Real Estate Inflows Reach $5.1 Billion

NEW DELHI: According to a report by CBRE, capital inflows into India’s real estate sector reached an all-time high of $5.1 billion in the January-March quarter of 2026, a 72% increase from $2.9 billion during the same period last year. Sequentially, investments rose by approximately 53% from the $3.3 billion recorded in the October-December quarter of 2025, showcasing ongoing institutional interest despite global economic uncertainties. During this quarter, domestic investors were predominant, representing nearly 96% of total inflows. Developers led the way in capital deployment with a 42% share, followed closely by real estate investment trusts (REITs) at around 40%.…

IndustryLatest Stories

Devendra Fadnavis to Lead Maharashtra Business Summit 2026

MUMBAI: The inaugural Maharashtra Business Summit & Awards 2026, hosted by ETGovernment–The Economic Times, is set to take place on April 23–24 at the iconic Taj Lands End. This event promises to be one of the year’s most significant economic gatherings. Chief Minister Shri Devendra Fadnavis will be the Chief Guest, joined by various ministers, senior officials, global investors, industry leaders, and diplomats. This convergence of policy, capital, and global influence is rare and highly anticipated. Positioned as a pivotal platform at this vital juncture in Maharashtra’s economic landscape, the summit will gather influential decision-makers and business leaders to outline…

Latest StoriesRera

Kantabada Panchayat Opposes BDA Housing Project in Odisha

BHUBANESWAR: In a landmark move, the Kantabada panchayat has turned to the Odisha Real Estate Appellate Tribunal (OREAT) to contest the Bhubaneswar Development Authority’s (BDA) approval of a private housing project, claiming it encroaches on the panchayat’s jurisdiction without proper authority. The tribunal supported the panchayat’s appeal, reversing an earlier decision by the Odisha Real Estate Regulatory Authority (ORERA) that had dismissed the grievance on the grounds of maintainability. OREAT determined that the definition of “aggrieved person” under RERA should not be limited solely to allottees, promoters, or real estate agents. The conflict revolves around a three-storey residential development comprising…

IndustryLatest Stories

Gurugram to Auction Properties Over Unpaid GRAP Fines

GURUGRAM: The Municipal Corporation of Gurugram (MCG) has launched a rigorous recovery initiative aimed at individuals and entities with outstanding challans issued during the Graded Response Action Plan (GRAP). They have warned that unpaid dues may lead to property sealing and auction proceedings. MCG Commissioner Pradeep Dahiya urged officials on Monday to hasten recovery efforts, emphasizing that the enforcement teams responsible for issuing challans will be held accountable for the collection of payments. He warned that any negligence in recovery would not be accepted, stating that there are currently 176 pending challans totaling Rs 41.2 lakh. This initiative coincides with…