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IndustryLatest Stories

Railways to Lease Prime Mumbai Land Worth Crores

MUMBAI: India’s largest landowner is leasing prime real estate across the country to fund infrastructure projects. In September, Indian Railways, via its land development authority (RLDA), called for bids to generate at least Rs 8,000 crore by leasing significant land areas in Mumbai. The RLDA plans to offer around 10.11 hectares in four key locations in Mumbai’s bustling real estate market. These Mumbai plots are part of nearly 340 hectares the RLDA intends to lease to private entities nationwide. The railways aim to lease approximately 110 hectares in Mumbai gradually. Land slices have been identified for auction in upscale areas…

Latest StoriesResidential

Bombay HC Approves Vienna Apartments’ Housing Society Formation

MUMBAI: The Bombay High Court has permitted the registration of the Vienna Apartments Co-operative Housing Society in Juhu, overturning a state government decision from June 2021 that had prevented it. Justice Amit Borkar determined that the previous refusal was legally flawed and not aligned with the aims of homebuyer protection laws, including the Maharashtra Ownership Flats Act (MOFA) and the Maharashtra Co-operative Societies Act (MCS Act). The Court re-established an earlier decision from December 18, 2020, which had granted the registration, and instructed the relevant authorities to issue the registration certificate within four weeks. The case revolves around the Vienna…

IndustryLatest Stories

Maharashtra Panel Proposes Cancelling Membership for Flat Owners Blocking Redevelopment

PUNE: Homeowners who continue to obstruct self-redevelopment after exhausting all legal avenues may face membership revocation, as suggested by a state-appointed study group. The panel, led by MLC Pravin Darekar, emphasized that while objections are a member’s right, persistent resistance following majority approval of a redevelopment plan constitutes holding the entire society at ransom. The report proposed that if a minimum of 51% of society members approve a redevelopment resolution (validated by the deputy registrar, cooperative court, or even the High Court), that decision should be obligatory for everyone. Dissenters would then need to vacate their flats to facilitate the…

Latest StoriesRegulatory

HC Calls Ex-Civic Chief’s Arrest in Money Laundering ‘Illegal’

MUMBAI: The Bombay High Court deemed the arrest of Anil Pawar, former chief of the Vasai-Virar civic body near Mumbai, by the Enforcement Directorate (ED) as “illegal” in a money laundering matter, ordering his immediate release. A bench comprising Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad stated that the ED lacked “tangible material” necessary for his arrest. “We find that on August 13, 2025, the arresting officer had no material as stipulated under section 19 of the Prevention of Money Laundering Act, which indicates a belief that the person is guilty of the offence,” the HC stated. “There is…

InfrastructureLatest Stories

YEIDA Reclaims 300 Acres of Land in Aligarh

NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) successfully reclaimed nearly 300 acres of land, valued at Rs 1,200 crore, from illegal occupation during a significant demolition and anti-encroachment operation in Aligarh district on Tuesday. The operation involved the dismantling of several unauthorized colonies, such as The Grand Coloniser and Vrindavan Colony, where demolition crews used excavators to destroy boundary walls, internal roads, and makeshift structures across multiple sites. Conducted in collaboration with the Aligarh district administration and police, the operation spanned Tappal, Hamidpur, and Syarol villages, all part of YEIDA’s designated area. Officials indicated that these settlements were established…

IndustryLatest Stories

Kolte-Patil Q2 FY26 Pre-Sales Fall 13% to ₹670 Crore

NEW DELHI: Kolte-Patil Developers Ltd has reported a 13% decline in sales bookings, amounting to Rs 670 crore for Q2 of this fiscal year, attributed to reduced area sold amidst declining demand in the Indian residential sector. In the same period last year, sales bookings were ₹770 crore. According to a regulatory filing from the Pune-based firm, sales volumes fell by 17%, totaling 0.86 million square feet in the July-September quarter compared to 1.03 million square feet the previous year. In the first half of the fiscal year, the company’s sales bookings decreased by 13% to Rs 1,286 crore, down…

Latest StoriesResidential

Bengaluru Offers One-Time Scheme for B-Khata to A-Khata Conversion

BENGALURU: The Greater Bengaluru Authority revealed a ‘one-time settlement’ initiative on Wednesday, permitting all B-khata properties within its jurisdiction to apply for conversion to A-khata. A-khata refers to legitimate properties sanctioned by government planning agencies like the Bangalore Development Authority (BDA). In contrast, B-khata, often termed as ‘bogus khata’, applies to properties constructed without official approval. According to GBA Chief Commissioner M Maheshwar Rao, “This one-time settlement grants all B-khata property owners a chance to apply for ‘single plot’ approval from the city corporations, leading to automatic conversion to A-khata.” He specified that B-khata flats or multi-storey units are not…

IndustryLatest Stories

Oberoi Realty Q2 FY26 Profit Up 29% to ₹760.26 Crore

NEW DELHI: Oberoi Realty announced a 29% increase in consolidated profit, reporting Rs 760.26 crore for the second quarter of this fiscal, attributed to higher revenues. This compares to a net profit of Rs 589.44 crore in the same period last year. For the July-September quarter of 2025-26, total income surged to Rs 1,844.84 crore, up from Rs 1,358.62 crore during the corresponding period of the previous fiscal year, according to a regulatory filing from Oberoi Realty. Based in Mumbai, Oberoi Realty is a leading player in the real estate sector, primarily focusing on luxury housing. Published On Oct 16,…

IndustryLatest Stories

NAREDCO Elects Parveen Jain as President, Hiranandani as Chair

NEW DELHI: The National Real Estate Development Council (NAREDCO) has appointed Parveen Jain as its new president and Niranjan Hiranandani as chairman. Parveen Jain, who is also the founder and managing director of Tulip Infratech, stated, “Our focus will be on promoting transparency, supporting progressive policy reforms, and enabling sustainable growth that aligns with India’s broader economic vision. NAREDCO will continue to serve as a bridge between the government and the real estate sector, ensuring responsible and inclusive growth.” Jain has previously served as president of NAREDCO – National from 2015 to 2017 and has held the position of president…

IndustryLatest Stories

Tribeca Developers repays ₹200 crore in construction loan

NEW DELHI: Tribeca Developers has repaid a ₹200 crore construction finance facility ahead of schedule, which was raised for its Mumbai project, The Edge. The company operates in six Indian cities and has launched or delivered over six million sq ft of real estate, accumulating a total revenue exceeding ₹7,000 crore. In FY25, Tribeca Developers achieved sales exceeding ₹4,000 crore. Published On Oct 15, 2025 at 12:34 PM IST Become part of a community with over 2M industry professionals. Subscribe to our newsletter for the latest insights and analysis delivered to your inbox. Access all ETRealty industry updates right on…