Browsing Category

Realty

3625 posts

Stay updated with the latest news and trends in the realty sector. This tag encompasses various aspects of real estate including property developments, market insights, investment opportunities, and industry news, providing comprehensive coverage for real estate professionals and enthusiasts.

Get the latest news, trends, and insights in the real estate industry. This tag covers a wide range of topics including market analysis, property developments, investment opportunities, and residential and commercial real estate updates. Stay informed about the dynamics shaping the real estate sector.

Home loan

Home Loan EMIs to Fall as Banks Cut Lending Rates; Real Estate Sector Set for a Boost

In a major boost to homebuyers and the real estate sector, top Indian banks have reduced lending rates after the RBI’s recent repo rate cut. The move is expected to lower EMIs, revive housing demand, and encourage fresh property investments, especially in key urban markets like Mumbai and Pune.
EOW Mumbai registers FIR against Ecstasy Realty and its promoters for a ₹600 crore financial fraud involving diverted NCD funds for the Parthenon project.

Ecstasy Realty and Promoters Face EOW Probe in Alleged ₹600 Crore Financial Fraud

The Economic Offences Wing (EOW) Mumbai has filed an FIR against Ecstasy Realty Private Limited and its promoters for an alleged ₹600 crore financial fraud. The case, initiated by Edelweiss Asset Reconstruction Company Limited (EARCL), involves the alleged diversion of ₹600 crore raised through secured Non-Convertible Debentures (NCDs) meant for the residential project “Parthenon.” The FIR names key individuals including Shobhit J. Rajan, Naresh Bajaj, Pulin Bole, Pranav Bajaj, and Shivani Verma, along with Prabal Infra Agro Farms Pvt. Ltd. and Maharashtra Eco Green Pvt. Ltd. The EOW is currently investigating the misuse of funds and submission of fake utilization certificates.
The Bihar RERA has fined a developer ₹1 lakh for displaying "Coming Soon" posters and online ads for an unregistered project, holding that even minimal promotions violate Section 3 of the RERA Act and defeat buyer protection goals.

Developer’s Accounts Frozen for Failure to Pay Allottees, Tribunal Rejects Plea to Unfreeze

A Mumbai-based real estate developer, Altaa Construction, has had its plea to unfreeze bank accounts rejected by the Maharashtra Real Estate Appellate Tribunal. The accounts were frozen by authorities due to the developer’s continuous failure to comply with orders dating back to 2020, which mandated the payment of Rs. 71 lakh in interest to allottees. The Tribunal cited a “dilatory strategy with malafide intentions” on the part of the developer, noting the allottees’ five-year struggle to recover their dues.
Godrej bought RK Studios

MahaRERA Orders Refund Paid for Seven Flats in Godrej RKS Project

MahaRERA has directed Godrej Properties to refund ₹6.21 crore to six homebuyers who cancelled bookings in the Godrej RKS project, built on the iconic Raj Kapoor Studios site in Chembur. The authority upheld the developer’s right to terminate bookings due to buyer defaults and ruled out refund claims under Section 18 of RERA.
MHADA

MHADA Floats Tender for Redevelopment of Jogeshwari’s PMGP Colony; Residents to Receive 450 Sq. Ft. Homes

MHADA has initiated the tender process for the long-pending redevelopment of PMGP Colony in Jogeshwari (East), Mumbai. Nearly 1,000 families living in 180 sq. ft. units will soon be rehabilitated into modern 450 sq. ft. homes. After delays with a private developer, MHADA will now execute the project through an EPC contractor over the next three and a half years.