Category: Latest Stories

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Latest StoriesRera

MahaRERA to issue warrants in ₹90 crore Palais Royale case

MUMBAI: The MahaRERA adjudicating officer has issued four warrants aimed at recovering approximately ₹90 crore in interest from Honest Shelters Pvt Ltd, the current promoters of the Palais Royale project in Worli. The warrants pertain to four flats in the project, following an application from IIFL Finance Ltd regarding non-compliance with a January 16 directive. The officer also issued warrants for delayed possession concerning three additional flats associated with IIFL in the same development. The adjudicating officer, Ashok Alaspurkar, issued the orders on various dates, including August 4, July 28, and July 27, to recover different interest amounts related to…

CommercialLatest Stories

Dow Chemical Leases 2.5 Lakh Sq Ft Office in Navi Mumbai

Representative image Dow Chemicals International has secured over 2.56 lakh sq ft of office space in an IT park located in Navi Mumbai’s Airoli area via a long-term lease lasting over 10 years. This transaction is one of the largest in the city’s IT and business park sector. The US-based chemical giant has leased five floors (from the 2nd to the 6th) in one of the towers of the Mindspace Special Economic Zone, owned by Mindspace Business Parks. Total rental costs across the lease term are projected to be around Rs 250 crore. The lease, effective from September 15, will…

IndustryLatest Stories

Brigade Enterprises Q1 FY26 Sales Bookings Rise 3% to ₹1,118 Cr

NEW DELHI: Brigade Enterprises Ltd experienced a 3% growth in sales bookings, reaching Rs 1,118 crore in the first quarter of the fiscal year, attributed to improved per square foot realizations from residential properties. In comparison, sales bookings in the same period last year amounted to Rs 1,086 crore. As per the company’s latest investor presentation, sales bookings by volume decreased by 17% to 9.49 lakh sq ft from 11.45 lakh sq ft. However, the realization per square foot surged by 24% to Rs 11,782 per sq ft from Rs 9,483 per sq ft. On Wednesday, Brigade Enterprises Ltd reported…

Latest StoriesRera

Kerala RERA Lets Flat Owners Take Over Under-Construction Units

KOCHI: In a groundbreaking ruling, the Kerala Real Estate Regulatory Authority (K-RERA) has permitted a flat allottees association to assume control of an under-construction apartment complex from its developer. K-RERA exercised its special authority under the Real Estate Regulation and Development Act, 2016, to facilitate the takeover of the nine-storey apartment complex located in Angamaly. The registered association, MIR CINTRA, approached K-RERA after the promoter, MIR Builders and Developers Pvt Ltd, failed to deliver the flats to the allottees. The association highlighted that despite collecting ₹15.06 crore from them, the developer had not even completed the structural work of the…

Latest StoriesRegulatory

Punjab Cabinet Approves Denotification of Land Pooling Policy

CHANDIGARH: The Punjab Cabinet approved the denotification of the land pooling policy that the AAP government had recently retracted. This decision was made during a council of ministers meeting led by Chief Minister Bhagwant Mann. The Cabinet announced the retraction of the housing and urban development department’s notification regarding the Land Pooling Policy 2025, originally issued on June 4, along with its subsequent amendments, according to a spokesperson from the chief minister’s office. In light of pressure from farmer organizations and opposition parties, the Punjab government officially withdrew the land pooling policy on August 11, despite initially branding it as…

IndustryLatest Stories

Kalpataru’s Q1 FY26 Sales Bookings Jump 83% to ₹1,249 Crore

NEW DELHI: Realty company Kalpataru Ltd reported an impressive 83% increase in sales bookings, reaching Rs 1,249 crore in the first quarter of this fiscal year, driven by higher realizations. In the same period last year, the sales bookings were Rs 682 crore. As per their latest investor presentation, while the sales volume decreased from 0.61 million sq ft to 0.56 million sq ft, the average sales realization saw a significant rise, doubling from Rs 11,199 per sq ft to Rs 22,476 per sq ft. On Wednesday, the company also announced a consolidated net loss of Rs 49.42 crore for…

Latest StoriesRera

Telangana RERA Fines Googee Properties for Unregistered Sales

HYDERABAD: The Telangana Real Estate Regulatory Authority has fined Googee Properties Pvt. Ltd. ₹27 lakh for promoting and selling plots in their ‘satellite township’ at Nomula village in Ibrahimpatnam mandal, Rangareddy district, without the necessary project registrations or layout approvals. Following complaints from Sumalatha Kamireddy and others, TG RERA determined that the developer accepted significant advances from 12 buyers under a “pre-launch offer,” despite not having the proper statutory clearances. The Authority mandated that all sales and marketing efforts cease until the project obtains the required registration. Each complainant had reserved a residential plot of approximately 200 square yards through…

IndustryLatest Stories

Yogayatan Appeals to NCLT on Revised Lavasa Bid Approval

The Yogayatan Group, based in Mumbai, has lodged a petition with the National Company Law Tribunal (NCLT) opposing creditors’ decision to permit revised resolution plans for the financially troubled Lavasa Corp. According to **RealtyDailyNews** on August 1, Yogayatan emerged as the highest bidder with a bid of ₹795 crore based on net present value (NPV) after bidders were given a chance to enhance their offers following the initial round of bidding last month. However, after the bids were revealed, Valor Estates (formerly DB Realty), which did not submit a revised bid, indicated it wanted to raise its offer. This Mumbai-based…

Latest StoriesResidential

Kriti Sanon Purchases Bandra Duplex Penthouse for ₹78.20 Crore

Bollywood star Kriti Sanon has acquired a luxury sea-facing duplex penthouse in Supreme Prana, located in the upscale Pali Hill area of Bandra, Mumbai, for over ₹78.20 crore. The apartment, spanning a carpet area of 6,636 sq. ft., occupies the 14th and 15th floors of the under-construction building. The transaction values the property at approximately ₹1.18 lakh per sq. ft., marking it as one of the priciest real estate deals in Mumbai’s suburbs. The actress has also settled ₹3.91 crore in stamp duty for this transaction, which was registered on Thursday. Inclusive of the Goods and Services Tax (GST) and…

Latest StoriesRegulatory

NCLAT Approves Insolvency Proceedings for Supertech Realtors

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has authorized the start of insolvency proceedings against Supertech Realtors, the developer behind the Supernova project, which consists of residential apartments, offices, retail spaces, and a luxury hotel. The Insolvency and Bankruptcy Appellate Tribunal upheld a previous order from the Delhi bench of the National Company Law Tribunal (NCLT) that, on June 12, 2024, initiated the Corporate Insolvency Resolution Process (CIRP) in response to a petition from the Bank of Maharashtra, citing defaults. A two-member NCLAT panel noted that the revised settlement proposal from Ram Kishore Arora, the promoter, had not…