Category: Latest Stories

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Latest StoriesResidential

Hyderabad Duo Acquires Delhi Bungalow for ₹140 Crore

NEW DELHI: Sasidhar Chinta and Lakshmi Priyadarshini Chinta from the Hyderabad-based conglomerate Vishwa Samudra Group have acquired an 883-square meter bungalow in Jor Bagh, Delhi, for ₹140 crore, as per official documents. The sale deed was registered in June, and the executives paid ₹8.96 crore in stamp duty. The Vishwa Samudra Group is a multinational conglomerate involved in engineering and infrastructure. The group has not responded to RealtyDailyNews’s email inquiry. The property was owned jointly, requiring signatures from 10 representatives on the seller’s side. This transaction contributes to an ongoing trend of high-value deals in the Lutyens’ Bungalow Zone (LBZ),…

Latest StoriesRegulatory

Goa Land Grab Scam Valuation May Surpass ₹1,200 Crore: ED

PANAJI: According to the Enforcement Directorate (ED), the market value of land parcels allegedly illegally acquired by Yeshwant Sawant and others is expected to surpass Rs 1,200 crore, as reported by Murari Shetye. The ED conducted searches on Monday and Tuesday at 13 residential and commercial locations across Goa and Hyderabad in this alleged land grab case, seizing Rs 72 lakh and seven luxury vehicles. The investigations were initiated under the Prevention of Money Laundering Act (PMLA) due to illegal grabs of comunidade lands in Goa. This action followed an FIR filed by the Goa police pertaining to the unlawful…

IndustryLatest Stories

NeoLiv Signs Land Development Deal in Khopoli

Representative image NeoLiv, a residential investment and development platform, has signed a management agreement for developing 47 acres of prime land in Khopoli, Maharashtra. The project, with an estimated gross development value of around ₹600 crore, will feature a mixed-use community, including premium villas, plots, and retail conveniences for a lifestyle-focused environment. “This represents one of our largest ventures in the country’s most sought-after micro-market. Supported by ultra-high-net-worth investors through our SEBI-approved fund, we aim to deliver residential developments nationwide,” stated Mohit Malhotra, founder and CEO of NeoLiv. The Panvel-Khalapur-Khopoli region has become a real estate hotspot in the Mumbai…

Latest StoriesRegulatory

Prayagraj to Implement Fixed Fees for Property Name Transfers

PRAYAGRAJ: In a notable decision made during the Prayagraj Municipal Corporation (PMC) meeting on Thursday, a new sub-rule for property name transfer was approved, aimed at benefiting numerous citizens in the city. This new state government sub-rule aims to simplify the process of property name transfer, modification, and alteration within municipal limits, making it considerably more affordable. Currently, property owners in Prayagraj face name transfer fees ranging from 0.5% to 1% of their property’s value. This can impose a heavy financial burden, particularly on middle-class families. However, with the new sub-rule, fixed fees based on property value slabs will replace…

Latest StoriesResidential

Ranchi Police Urge Landlords: Ensure Tenant Verification

RANCHI: Tenant verification remains a largely overlooked practice in the city, with both landlords and police showing minimal commitment to this essential safety requirement. This issue has resurfaced in light of recent criminal activities. Following these incidents, Ranchi’s Superintendent of Police, Ajit Kumar, announced that all police stations are now mandated to collect tenant information. “We are addressing this issue seriously after two significant incidents in the past few days. Awareness campaigns will soon be rolled out for landlords to emphasize the importance of tenant verification,” Kumar stated. However, conversations with officials from five police stations—Lalpur, Hindpiri, Lower Bazar, Bariatu,…

IndustryLatest Stories

Chandigarh Admin Berates CHB for Poor Performance

CHANDIGARH: Punjab Governor and UT Administrator Gulab Chand Kataria criticized the Chandigarh Housing Board (CHB) for its inadequate performance in fulfilling its mandate of providing affordable housing in the city. The board has faced scrutiny for its long-standing stagnation, failing to initiate a single housing project in almost a decade. During his inaugural visit to the CHB building in Sector 9, the administrator led a performance review meeting on Thursday, where various aspects of the board’s operations were discussed. He emphasized the need to reactivate the CHB to meet its objectives. Present at the meeting were CHB officials, including UT…

Latest StoriesRera

Karnataka-RERA Ruling Offers Hope for Distressed Plot Owners

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA) has ordered SL Plotted Development Projects Private Limited (SLPDPPL) to fulfill all promised amenities and ensure basic infrastructure at the Shriram Godhuli Layout project within six months, in accordance with the initial layout plan and sale deed commitments. This directive, issued on August 13, follows complaints from 52 purchasers of plots near Kathriguppe village in Chikkaballapur taluk. The K-RERA judgment notes, “The brochures, sale deeds, agreements, and submissions from complainants confirm that essential amenities—such as electricity, water, and sewage systems—are incomplete. Even key infrastructures like the overhead water tank, electricity connections, and…

IndustryLatest Stories

Chandigarh raises property conversion charges

CHANDIGARH: Property owners in the city will face significantly increased fees for converting leasehold residential properties to freehold status. This change is part of a new notification from the Chandigarh administration, marking the first revision of these charges since 2017. The new fees have increased by two to four times, depending on property size and location, and are directly tied to updated collector rates. The notification indicated that the land rate for calculating conversion charges will be aligned with the collector rates (in Rs per sqm) applied to residential urban areas, as per the rates announced on March 25. Additionally,…

IndustryLatest Stories

SEBI Reclassifies REITs as Equity, Expands Investor Access

NEW DELHI: To enhance participation in Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), the Securities and Exchange Board of India (SEBI) has approved amendments to the SEBI (Mutual Funds) Regulations, 1996, reclassifying REITs as “equity” while maintaining InvITs under the “hybrid” category for mutual fund and specialized investment fund investments. The decision, made during SEBI’s board meeting, is expected to facilitate greater mutual fund investment in REITs by including them in equity indices. The regulator noted that these changes followed public consultations in April 2025 and extensive discussions with industry stakeholders. This adjustment aligns domestic regulations with…

Latest StoriesRegulatory

Amicus Urges SC for Court-Monitored Resolution in Supertech Supernova

NEW DELHI: On Friday, the Supreme Court was recommended to consider a court-monitored hybrid resolution framework, similar to that used in the Amrapali and Unitech cases, led by former judge Navin Sinha to complete the Supertech Realtors’ ambitious ‘Supernova project’ in Noida. Supertech Realtors is a fully owned subsidiary of Supertech Ltd, which is currently undergoing insolvency proceedings. The ‘Supernova’ project encompasses a mixed-use development featuring residential, commercial spaces, studio apartments, service apartments, and shopping malls in Sector 94 of Noida. The structure is expected to rise to 80 floors, making it the tallest in the Delhi-NCR at a height…