Category: Latest Stories

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Latest StoriesRegulatory

Bombay HC Overturns State’s Land Acquisition Under Slum Act

MUMBAI: On Tuesday, the Bombay High Court nullified the state’s acquisition of a prime private land in Goregaon East, which had been designated as slum land under the Slum Act. The court highlighted the obligations imposed on state officials and the CEO of the Slum Rehabilitation Authority (SRA) before exercising the drastic powers under Section 14 of the Slum Act. Justices Girish Kulkarni and Aarti Sathe acknowledged a plea from NESCO, the private property owner, to overturn the acquisition, deeming it arbitrary and unlawful. They stated, “Such powers should not be invoked at the mercy of unscrupulous parties, disregarding the…

IndustryLatest Stories

Ahmedabad body auctions Chandkheda plot, includes service road

AHMEDABAD: Different departments within the Ahmedabad Urban Development Authority (Auda) appear to be making significant decisions without proper communication. A notable instance of this miscommunication is a recent land deal. One year after auctioning 21,685 sq m of prime land next to the SP Ring Road in Chandkheda for ₹166 crore, officials in the estate department discovered that their counterparts in the town planning department had already designated part of that land for a 9m wide service road. In response to this oversight, Auda officials hurried to rectify the situation. During the board meeting on September 30, they proposed granting…

Latest StoriesRegulatory

Delhi HC denies extension for Signature View apartment vacate

NEW DELHI: Residents of Signature View Apartments made a last-ditch effort to prolong their vacate deadline, but the Delhi High Court rejected their plea on Tuesday, stating, “We will not put our seal at your risk.” A bench consisting of Chief Justice DK Upadhyaya and Justice Tushar Rao Gedella noted the Supreme Court had previously identified the buildings as dilapidated. “In light of the Supreme Court’s order from October 10, we cannot grant any time extension,” the bench stated, dismissing the appeal from nine residents who sought a grace period under the court’s “mercy” jurisdiction. “If we grant more time…

IndustryLatest Stories

One Prastha Realty secures ₹80 crore from Capri Global for project

NEW DELHI: One Prastha Realty, a real estate developer, has secured ₹80 crore in debt financing from Capri Global to support its integrated township project spanning 57 acres in Sonipat, Haryana. The company has successfully completed an 8.5-acre residential project in Sonipat and has now acquired 57 acres of land for a large-scale township development featuring residential plots and villas, as stated in the company announcement on Tuesday. Somesh Mittal, Co-Founder of One Prastha, noted the significant demand for residential plots in the Sonipat area, driven by infrastructure growth and improved connectivity to Delhi and Gurugram. “We see this not…

IndustryLatest Stories

Godrej Properties buys 26 acres of land in Bengaluru

Representative AI image NEW DELHI: Godrej Properties (GPL) has acquired a 26-acre land parcel in South Bengaluru, near Sarjapur Road. Gaurav Pandey, MD & CEO, remarked, “As Bengaluru solidifies its reputation as one of India’s most vibrant real estate markets, the Sarjapur Road corridor emerges as a pivotal growth zone in the city’s urban landscape.” GPL intends to develop a premium residential project on this land, projecting a revenue potential of ₹1,100 crore. Published On Oct 15, 2025 at 08:37 AM IST Join a community of over 2 million industry professionals. Subscribe to our Newsletter for the latest insights &…

Latest StoriesRegulatory

SC Revives 213 Udaipur Flats After ED Aids Homebuyers

NEW DELHI: In a significant relief for over 200 homebuyers involved in the Udaipur-based Royal Rajvilas (RRV) project, the Supreme Court has lifted the attachment on their flats by the Enforcement Directorate (ED). The Court also dismissed the ED’s challenge to the insolvency resolution process, which had seen a new owner approved by the Mumbai bench of the National Company Law Tribunal (NCLT) to complete the project. Udaipur Entertainment World Pvt Ltd (UEWPL), the original owner, is now under new management. The apex court commended the ED for its role in helping over 200 homebuyers reclaim their dream homes, which…

IndustryLatest Stories

CCI Approves Vedanta’s Bid for Jaiprakash Associates

NEW DELHI: The Competition Commission of India (CCI) announced on Tuesday that it has granted in-principle approval for mining giant Vedanta’s proposal to acquire the financially troubled Jaiprakash Associates, contingent upon winning the ongoing insolvency auction. Besides Vedanta, the CCI has also approved acquisition proposals from Jindal Power, PNC Infratech, Adani Group, and Dalmia Bharat for Jaiprakash Associates. “The proposed transaction involves the acquisition of Jaiprakash Associates Ltd (JAL) by Vedanta Ltd (the acquirer) as part of a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016,” stated the regulator in an official release. The CCI confirmed…

InfrastructureLatest Stories

UP CM Unveils Urban Revitalization Plan for Cities

LUCKNOW: Chief Minister Yogi Adityanath announced on Tuesday that Uttar Pradesh will implement a new urban redevelopment policy aimed at revitalizing cities, reorganizing land, and attracting private investment, all while protecting the livelihoods of families impacted by these changes. The policy will focus on upgrading outdated structures and neglected areas with modern urban infrastructure and ample public amenities, as stated by the UP government. Adityanath emphasized that the urban redevelopment initiative seeks to rejuvenate cities holistically across the state. While addressing a Housing Department meeting, he stated, “Our cities are not just collections of buildings; they are vibrant social entities.”…

Latest StoriesRegulatory

SC asks Centre, SEBI about Sahara firm’s property sale to Adani

NEW DELHI: The Supreme Court has requested responses from the Centre, the Securities and Exchange Board of India (SEBI), and other stakeholders regarding a petition by Sahara India Commercial Corporation Ltd (SICCL) to sell 88 prime properties to Adani Properties Private Limited. A special bench led by Chief Justice B R Gavai, along with Justices Surya Kant and M M Sundresh, reviewed the interlocutory application related to the Sahara Group’s refund obligations. The bench, acknowledging Solicitor General Tushar Mehta’s submissions, directed that the Union Ministries of Finance and Cooperation be added as parties to these proceedings and requested their response…

Latest StoriesRegulatory

Maharashtra I-T to penalize sub-registrars for unreported deals

NAGPUR: The income tax department is set to impose significant penalties on property sub-registrar offices (SRO) for failing to accurately report real estate transactions in their financial statements. Investigations at various SROs revealed that transactions totaling approximately Rs13,000 crore were not disclosed in the required format. Registrations of properties valued at Rs30 lakh and above must be reported to the income tax department under the Statement of Financial Transactions (SFT). This marks a rare occasion where a government department penalizes another. Last year, SROs received a penalty notice, but it was for a relatively minor sum. This time, penalties could…