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Varun Singh, is a Senior Journalist who has extensively covered the Real Estate Sector for over one and half decade. His articles, insights, and opinion on the sector are widely read.
In a major redevelopment-taxation ruling, the ITAT Mumbai held that redevelopment benefits belong to flat owners, not the society. The Tribunal rejected the Income Tax Department’s ₹4.97 crore capital gains demand.

Income Tax Tribunal Rules: Redevelopment Gains Not Taxable for Housing Societies; Crucial Shield for Flat Owners

In a major redevelopment-taxation ruling, the ITAT Mumbai held that redevelopment benefits belong to flat owners, not the society. The Tribunal rejected the Income Tax Department’s ₹4.97 crore capital gains demand.
Real estate stocks opened on a cautious note as Indian markets showed early signs of consolidation. While select developers like DLF and Phoenix Mills saw buying interest, others such as Godrej Properties and Lodha Developers remained under pressure, pointing to a volatile and range-bound trading session ahead.

🏗️ Realty Stocks Begin the Week on a Mixed Note: Large Developers Hold Firm While Mid-Caps Drag the Index

Real estate stocks ended the first day of the week with mild gains as large developers lifted the sector despite mid-cap weakness. Here’s a full breakdown of the day’s performance and what to expect on Tuesday.
Bombay HC allowed homebuyers’ ₹45 lakh refund claim against Godrej to proceed despite a long filing delay.

Bombay HC Shields Property Buyers: Covid Delay Can’t Cancel Auction Sales

The Bombay High Court has held that auction sales conducted before the Covid-19 lockdown cannot be cancelled merely because buyers missed payment deadlines during the pandemic, ruling that the entire lockdown period must be excluded from statutory timelines.
MHADA has signed tripartite and construction agreements for the redevelopment of the historic GTB Nagar colony in Sion Koliwada, Mumbai. The 11.2-acre project will build three high-rise towers to rehabilitate around 1,200 residents.

Govt Amends GR for GTB Nagar Sion Koliwada Redevelopment; Drops Mandatory Housing Society Resolution Clause

The Maharashtra Government has amended its 2024 GR for the GTB Nagar, Sion Koliwada redevelopment, removing the requirement for a society resolution under the 2019 co-operative department norms. The decision is expected to streamline MHADA’s 25-building project under DCPR 33(9).
ITAT Mumbai has ruled that land cost must be included in real estate project cost under POCM, upholding a ₹47.26 crore tax addition against a developer. The decision impacts how builders calculate revenue in joint development projects.

ITAT Mumbai Upholds ₹47 Crore Tax Addition: Land Cost Must Be Counted in Real Estate Revenue Calculations

ITAT Mumbai has ruled that land cost must be included in real estate project cost under POCM, upholding a ₹47.26 crore tax addition against a developer. The decision impacts how builders calculate revenue in joint development projects.