Category: Latest Stories

Access daily updates on all real estate sectors including residential, commercial, retail, and infrastructure. Stay ahead with market trends, policy changes, investment news, and expert analysis from across the globe.

Latest StoriesRegulatory

EOW Closes ₹67.5 Cr Cheating Case Against Kamala Mills Owner

File Photo MUMBAI: The Economic Offences Wing (EOW) of the Mumbai police has concluded a cheating case involving Rs 67.50 crore against Ramesh Govani, the owner of Kamala Mills. The EOW submitted a ‘B’ summary report to the metropolitan magistrate court, indicating insufficient evidence to support the allegations by the complainant, Sujit Arora. Arora claimed that Govani acquired his land for redevelopment, promising Rs 20 crore along with commercial properties and flats valued at Rs 67.50 crore. However, Arora alleged that he received neither payment nor properties. The case was filed on July 9, 2024, under IPC sections concerning cheating,…

IndustryLatest Stories

MLA Claims ₹2,000 Crore Housing Scam in Mumbai; Audit Ordered

MUMBAI: On Tuesday, the Maharashtra government initiated a vigilance audit following allegations from a BJP MLA regarding a ₹2,000 crore scam in housing schemes in Mumbai. The audit report is anticipated within 30 days, as shared by Minister of State for Urban Development, Madhuri Misal, in the legislative assembly. Steps will be taken against Brihanmumbai Municipal Corporation (BMC) officials if it is found that they overlooked any rule violations committed by developers. Mihir Kotecha, BJP MLA from Mulund, brought this issue to light through a calling attention motion, stating that developers have exploited provisions under Development Control Regulations (DCR) 33(11)…

CommercialLatest Stories

TCS Expands Chennai Presence to 7.79 Lakh Sq Ft with New Lease

BENGALURU: Tata Consultancy Services (TCS) has expanded its office presence in Chennai to around 779,000 sq ft with a new lease of 147,000 sq ft at Ozone Techno Park. This move further establishes the city as a strategic hub in TCS’s delivery network across India. The lease agreement, made with Platinum Holdings Private Limited, encompasses space on the fourth and fifth floors of the IT park located on Old Mahabalipuram Road (OMR). According to Propstack, the lease will begin on October 1, 2025, for a duration of 53 months, with a rental rate of Rs 45 per sq ft per…

IndustryLatest Stories

Gurugram to Penalize Builders Delaying Audit Work

Gurugram: The district administration has issued a warning to builders regarding their obligation to perform repair work as detailed in structural audit reports. This warning was announced by an official on Tuesday. The discussion arose during a meeting led by Deputy Commissioner (DC) Ajay Kumar, which included builder representatives and Residents Welfare Associations (RWAs) from 15 societies that are part of the initial phase of the structural audit process. It was highlighted that although structural audits have been finalized in several societies, the recommended repair and improvement activities have not commenced within the expected timeline, as per an official statement.…

Latest StoriesResidential

Legal Challenges for Jaypee Sports City Buyers Amid Adani Takeover

NOIDA: The National Company Law Tribunal (NCLT) has approved Adani Enterprises’ ₹14,535 crore resolution plan for Jaiprakash Associates Ltd (JAL) in accordance with the Insolvency and Bankruptcy Code, 2016. The future of the stalled Jaypee Sports City project, along with the thousands of homebuyers affected, is now contingent upon the outcome of a simultaneous legal dispute before the Supreme Court. The Supreme Court is scheduled to hear a petition from the developer challenging a March 2025 ruling by the Allahabad High Court, which affirmed the decision made by the Yamuna Expressway Industrial Development Authority (YEIDA) to annul JAL’s allotment of…

Latest StoriesRegulatory

Nashik Builder Arrested for EWS Quota Violations in 49 Projects

NASHIK: The Sarkarwada police have arrested a developer in connection with a cheating case involving 197 landlords, builders, and developers. They are accused of circumventing the mandatory 20% reservation for the Economically Weaker Section (EWS) in residential projects that exceed 4,000 sq m. The developer, associated with a project in Nashik city, was summoned for questioning on Monday and subsequently taken into custody. The court has remanded him to police detention until March 20. Senior officials from the Sarkarwada police station indicated they received a list of 197 individuals from the Nashik Municipal Corporation (NMC) and the tehsil office, connected…

IndustryLatest Stories

NCLT Greenlights Adani’s ₹14,535 Cr Bid for Jaiprakash Associates

NEW DELHI: The National Company Law Tribunal (NCLT) has sanctioned Adani Enterprises Ltd’s bid of ₹14,535 crore to acquire Jaiprakash Associates Ltd as part of the insolvency proceedings. Jaiprakash Associates Ltd (JAL) reported in a regulatory filing that the Allahabad bench of the NCLT orally pronounced its order on March 17, 2026, approving the resolution plan proposed by Adani Enterprises Ltd. In November of the previous year, a Committee of Creditors (CoC) gave its nod to the acquisition plan suggested by business tycoon Gautam Adani. Adani Enterprises secured the endorsement of JAL’s creditors for its ₹14,535 crore bid, surpassing competitors…

Latest StoriesRegulatory

CCS Files Case Against Builders for Pre-Launch Fraud

HYDERABAD: The Central Crime Station (CCS) has filed a case against the directors of Bharathi Builders, accused of swindling a local businessman and his brother out of ₹87 lakh with a fraudulent pre-launch investment scheme related to a gated community project in Bhanoor, Sangareddy district. K. Krishna Sumanth, 46, from Banjara Hills, reported that directors D. Nagaraju and M. Siva Rama Krishna convinced him and his brother, Krishna Kanth, to invest in their proposed project in August 2021. “They claimed to have secured 6.39 acres across various survey numbers in Bhanoor, assuring us that our investment would double within 36…

Latest StoriesRera

Haryana RERA Orders ₹21 Lakh for Delayed Flat Booking in 2008

GURUGRAM: A local developer has been ordered to compensate a homebuyer due to delays in delivering possession of a residential unit. Additionally, a refund of the invested amount “does not prevent further compensation,” as stated by the Haryana Real Estate Regulatory Authority (Hrera) – the buyer is set to receive over Rs 21 lakh. This order, issued on March 17, followed a complaint filed by Nishant Mehra against Ramprastha Promoters and Developers. The residential unit in Sector 37D, part of the Edge Towers project within Ramprastha City, was initially promised for delivery by August 2012. The developer is required to…

Latest StoriesRegulatory

ED Recovers ₹650 Crore for 2,300 SRS Realty Home Buyers

NEW DELHI: The Enforcement Directorate has returned immovable assets valued at ₹650 crore to over 2,300 home buyers as part of its ongoing investigation into money laundering involving the Faridabad-based SRS Group, according to officials. They noted that a specific provision in the Prevention of Money Laundering Act (PMLA) in Gurugram enabled the federal agency to undertake this action under anti-money laundering regulations. The ED’s Gurugram zonal office has effectively restored assets worth approximately ₹650 crore to 2,312 legitimate home buyers who were reportedly cheated in SRS projects, officials confirmed. It is alleged that the promoters and executives of SRS…