Category: Latest Stories

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Latest StoriesRera

Haryana RERA Orders Godrej to Deliver Delayed Flats, Pay Interest

GURUGRAM: After eight years of delays in a Sohna residential project, the real estate regulator has instructed the developer to transfer possession of the unit to buyers and pay interest for the delay until the handover occurs. The Haryana Real Estate Regulatory Authority (HRera) also prohibited Godrej Highview from imposing any unapproved charges and provided any necessary relief. The buyers — Ravi Kant Thakral, Minakshi Thakral, and Anuj Thakral — contended that their apartment in Sector 33 was supposed to be delivered by June 30, 2023. They purchased the flat in Tower T4 of the Godrej Nature Plus project in…

Latest StoriesResidential

Saligao Residents Protest Cancelled Housing Project Inspection

Representative AI image CALANGUTE: Residents of Saligao have raised concerns regarding structural violations and misrepresentation of facts associated with a 24-apartment project at Bairo Alto Vaddo. They claim that local authorities, including the town and country planning (TCP) department, Saligao village panchayat, and the local MLA, have repeatedly ignored their requests for a site inspection. “If this project is legal, why are they avoiding action?” residents questioned. Frustration mounted after a scheduled joint site inspection was unexpectedly canceled. The residents gathered at the site, asserting that they have been pleading with the authorities for almost a year to halt the…

Latest StoriesRegulatory

SC Freezes Parsvnath Developers’ Accounts, Issues Warrants

NEW DELHI: In a strong condemnation of the “blatant negligence” exhibited by Parsvnath Developers, a Haryana-based real estate firm, the Supreme Court on Monday froze the bank accounts of the company and its directors, issuing bailable warrants against the leadership due to a two-decade-long struggle faced by senior citizens in securing their homes. A bench led by Chief Justice of India Surya Kant criticized Haryana authorities for their inability to implement orders from the Haryana Real Estate Regulatory Authority (HRERA) against the firm, highlighting severe concerns about the Real Estate (Regulation and Development) Act, 2016’s effectiveness in providing relief to…

Latest StoriesRegulatory

NGT Stops All Construction in Ghaziabad City Forest

GHAZIABAD: In response to a petition claiming unauthorized construction within the Sai Upwan city forest, the National Green Tribunal (NGT) has instructed the district magistrate to prevent any illegal activities in the forest until the next hearing date. The interim ruling was issued on July 2 by a bench led by Chairperson Justice Prakash Shrivastava and Expert Member Afroz Ahmad, following a petition from former municipal corporator Rajendra Tyagi. According to counsel for the applicant, Akash Vasishtha, approximately 70,000 trees have either died or been destroyed due to non-forest activities in Sai Upwan. The bench acknowledged the applicant’s request for…

Latest StoriesRera

UP-RERA Issues Refund Guidelines for Excess GST from Homebuyers

GST NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has introduced new guidelines for refunding excess Goods and Services Tax (GST) collected from homebuyers in registered real estate projects. UP-RERA emphasized that GST for all registered projects should be collected in accordance with the rates set by the central government. Earlier, on January 8, 2025, UP-RERA had issued an order informing registered promoters and real estate agents about the applicable GST rates. However, concerns were raised that some allottees were charged GST rates above the prescribed ones. To address this, the State Tax Department has implemented an online…

IndustryLatest Stories

Puravankara Q1 FY27 Pre-Sales Up 28% to ₹1,439 Crore

Representative AI image NEW DELHI: Puravankara reported pre-sales of ₹1,439 crore in Q1 FY27, achieving a 28% year-on-year growth. Collections increased by 40% from the previous year to ₹1,199 crore during the quarter. The sales area expanded to 1.36 million sq ft, marking a 9% rise compared to the same period last year. The average price realization improved by 18% year-on-year to ₹10,589 per sq ft. The company delivered 0.94 million sq ft, completing 745 homes during this quarter. Additionally, Puravankara finalized an agreement with ICICI Prudential AMC for the sale of its commercial property, Purva Zentech. The transaction values…

CommercialLatest Stories

Smartworks Leases 930+ Seats to Pune Professional Firm

Representative AI image NEW DELHI: Smartworks Coworking Spaces has secured a lease for over 930 seats in Pune with the Indian subsidiary of a UK-based global professional services and technology firm. This agreement brings the client’s total seat count with Smartworks to more than 1,730. The 60-month contract is projected to generate committed rental revenue of approximately ₹58 crore. When combined with the existing agreement, the total rental commitment is expected to reach around ₹102 crore. Clients with 300 or more seats contribute about 69% of the company’s rental revenue, maintaining an average tenure of approximately 47 months. Multi-city clients…

Latest StoriesResidential

2015 Mapusa Flat Buyers Still Await Keys

Representative AI image PANAJI: Nine home buyers who invested in flats at the ‘Sai Ishwari’ housing complex in Mapusa nearly a decade ago are still without possession. The North Goa district and sessions court has ruled that it cannot transfer ownership of the apartments due to the absence of a final occupancy certificate for the project. The court has sent the case back to the Real Estate Regulatory Authority (RERA), affirming that it operates with limited jurisdiction as an executing court. The order stated, “The construction/project is not yet completed and lacks a final occupancy certificate; hence, possession of the…

Latest StoriesResidential

Bengaluru Resident Files Lokayukta Complaint Over Deed Delay

Representative AI image BENGALURU: A resident has approached the Karnataka Lokayukta, claiming that the amended deed of declaration (DoD) for Sobha Aspire apartments in Nagasandra was registered without consent from all apartment owners or proper authorization. The complaint was filed by Subhash S. Shetty, an apartment owner, regarding an amended DoD registered at the Peenya sub-registrar’s office on March 3, 2023. Shetty alleges the document was executed by someone posing as the “grantor” without valid authority, residents’ approval, or necessary documentation. In response to Shetty’s allegations of fraud, forgery, and illegal registration, the district registrar of Rajajinagar instructed the Peenya…

Latest StoriesResidential

Nagpur Launches 910 Affordable Homes in Two Housing Projects

NAGPUR: Union Minister Nitin Gadkari and Chief Minister Devendra Fadnavis inaugurated projects worth nearly Rs 673 crore throughout Maharashtra, particularly highlighting Nagpur. These initiatives focus on affordable housing and railway infrastructure, revealed during two events in the city. A key moment was the bhoomipuja for two housing projects by the Nagpur Municipal Corporation (NMC) at Mouza Nari, involving a total investment of Rs 188.77 crore. This includes the Rs 91.45 crore Maharshi Sudarshan Balmiki Vasahat, a housing colony for sanitation workers, and the Rs 97.32 crore Swapnapurti project under Pradhan Mantri Awas Yojana (Urban) 2.0, catering to economically weaker section…