₹625 Crore Loans, One Mortgage Deed – Now Developer Pays ₹72 Lakh Penalty
In a blow to real estate borrowers, the Bombay High Court has ruled that a single mortgage securing multiple loans counts as separate transactions, forcing Mumbai developer Neepa Real Estates to pay an extra ₹72 lakh in stamp duty and penalties on ₹625 crore worth of loans.
In Dharavi Redevelopment: Undecided Doesn’t Mean Ineligible
In the latest update on Mumbai’s Dharavi Redevelopment Project, only 2% of surveyed tenements are ineligible, with 57% secured for housing and 30.6% pending verification. Tracing back to failed 2000s tenders, the current Adani-led effort includes a four-tier appeal system to address disputes, aiming for 125,000 homes in the world’s largest urban renewal initiative.