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 StoriesResidential

Panchkula: Just 24,000 of 100,000 pay property tax

PANCHKULA: Despite having over 100,000 registered property tax assessees, only around 24,000 property owners in Panchkula met the payment deadline for this financial year by July 31, according to official data. The Municipal Corporation anticipated collecting over ₹155 crore in property tax, yet only ₹6.62 crore has been collected so far. This indicates a significant disparity between the number of taxpayers and assessors, as well as between the projected revenue and actual collections. No rebates will be applicable after the July 31 deadline, and defaulters will incur interest on the unpaid principal amount. The Municipal Corporation is still attempting to…

CommercialLatest Stories

Apple Grows Hyderabad Footprint with 64,000 Sq Ft Lease at WaveRock

Representative Image Apple India has demonstrated its commitment to Hyderabad by leasing an additional 64,125 square feet at WaveRock Tower 2.1, a prominent business park located within the city’s IT corridor. This expansion underscores Apple’s strategic focus on enhancing its operations in India, particularly in Hyderabad, which serves as a key hub for its technology and development initiatives. Documents reveal that Apple India Private Limited has inked a new lease agreement with TSI Business Parks (Hyderabad) Private Limited, the landlord and co-developer of the Special Economic Zone (SEZ). The lease encompasses parts of the underground floor and the 3rd floor…

Latest StoriesRegulatory

Mumbai Land Scam: Police Probe Forged Docs and BMC Sales

Representative AI image MUMBAI: An investigation is underway regarding a purported land scam in Kandivli, involving the heirs of a developer who, along with a builder, allegedly forged documents to reclaim approximately 2.5 acres of land that had already been surrendered to the BMC in return for additional Floor Space Index (FSI). The case was initiated at Borivli police station by BMC engineer Sunil Shete on August 4, 2025. The city’s crime branch has since taken over the case. Meanwhile, authorities have charged the original landowner and the developer who constructed 18 residential buildings on the unreserved five acres of…

IndustryLatest Stories

Excel Infra to Invest ₹250 Crore on New Mumbai Project

NEW DELHI: Excel Infra Construction announced on Monday its plan to invest ₹250 crore in a new housing project in Mumbai. The company revealed that it has initiated a luxury residential project at Bandra Reclamation, backed by an investment of ₹252 crore. Funding will be sourced from a combination of equity and Alternative Investment Fund (AIF) structured as non-convertible debentures. Excel Infra anticipates a revenue of ₹400 crore from this initiative, which features a 33-storey residential tower comprising 96 units. The apartments in the ‘Bellissima’ project are priced at ₹51,500 per square foot. “With a strategically planned investment and the…

IndustryLatest Stories

Brookprop pays ₹20.47L to settle REIT rule breach with Sebi

NEW DELHI: Brookprop Management Services, managing Brookfield India Real Estate Trust, settled an alleged REIT norms violation with the Securities and Exchange Board of India (Sebi) by paying Rs 20.47 lakh on Monday. “With the acceptance of the settlement terms and receipt of the settlement amount (Rs 20.47 lakh), the adjudication proceedings initiated through the show cause notice (SCN) dated June 11, 2024, are resolved under the settlement Regulations,” stated Sebi in its order. The notice alleged that the applicant used borrowed funds to facilitate the distribution of Net Distributable Cash Flow (NDCF). This resolution followed the entity’s application to…

Latest StoriesRegulatory

Builder Arrested in Thane for Selling Flats with Fake Permits

THANE: Authorities have detained the director of a real estate firm for allegedly scamming buyers out of several crores by selling apartments built with fake permits in Maharashtra’s Thane district, officials reported on Monday. Umrao Singh Prithviraj Ostwal, the director of Ostwal Builders Pvt Ltd, is charged with creating counterfeit construction permits and plans, which he presented as authentic documents, according to a release from the Mira Bhayander-Vasai Virar police. Using these falsified approvals, he is said to have constructed extra units beyond the authorized limits in the Ostwal Paradise Building No. 6 in the Mira Bhayander area, selling them…

Latest StoriesResidential

Supertech hands over 6,000 flats; 15,000 buyers still waiting

NEW DELHI: Supertech Ltd, a real estate firm facing insolvency issues, has handed over 6,121 apartments to its customers in the past three years across various housing projects, as stated by RK Arora, a former director of the distressed company. This delivery includes units across 16 ongoing projects managed by the previous leadership, under the oversight of a resolution professional appointed by the National Company Law Tribunal (NCLT). On March 25, 2022, the NCLT initiated the Corporate Insolvency Resolution Process (CIRP) for Supertech Ltd. The promoters subsequently appealed to the National Company Law Appellate Tribunal (NCLAT). In a ruling from…

IndustryLatest Stories

Puravankara Subsidiary Wins Malabar Hill Redevelopment Project

NEW DELHI: Puravankara, through its wholly owned subsidiary Purva Blue Agate, has secured redevelopment rights for a residential society located in Malabar Hill, Mumbai. This 1.43-acre project has the potential for 0.7 million sq ft of development, which will provide new homes for current residents as well as create a significant number of units for sale. “With this acquisition, our redevelopment portfolio in Mumbai now amounts to 4.25 million sq ft, with a potential Gross Development Value (GDV) of ₹10,500 crore,” stated Rajat Rastogi, CEO – West & Commercial Assets at Puravankara. The projected revenue for this project is estimated…

Latest StoriesRegulatory

Nashik Launches Tax Rebate Scheme for Property Defaulters

NASHIK: The Nashik Municipal Corporation (NMC) has announced an amnesty scheme for property tax defaulters, starting Monday, September 1. This initiative aims to recover a substantial part of the total outstanding property tax, which is estimated to be Rs784 crore, including Rs327 crore in penalties accumulated over the years. The scheme offers a significant waiver on penalties for those who clear their dues. Defaulters who pay off all outstanding property tax between September 1 and October 31 will receive a 95% waiver on the penalties. For payments made in November, the penalty waiver will be reduced to 85%. The NMC…

Latest StoriesResidential

UP Minister: Noida Flat Registry Can Proceed After NOC

LUCKNOW: Uttar Pradesh Minister Ravindra Jaiswal has stated that delays in property registration in Noida and Greater Noida are due to disputes between builders and local development authorities regarding no-objection certificates (NOCs), clarifying that his department has no involvement in this stalemate. In an interview with PTI in Lucknow, the Minister of State (Independent Charge) for Stamp and Court Fee, Registration, explained that registrations for homebuyers are processed promptly once an NOC is provided by the Noida, Greater Noida, or Yamuna Expressway industrial development authorities. “In Gautam Buddh Nagar, three local development authorities are responsible for allocating land to builders…