In Revision Application No. 35 of 2026, President Sau. S.S. Sapatnekar set aside an order dated 16 July 2026 passed by the Co-operative Court, Thane, and dismissed Dispute No. CCT 92/2026 against ACIPL (Archetype Consultants (I) Pvt. Ltd.), the PMC, under Order VII Rule 11(d) of the Code of Civil Procedure as barred by law.

The dispute was filed by three members of Raghukul Co-operative Housing Society Ltd., Parsik Nagar, Kalwa (West), Thane — Manoj Madhukar Dakwe, Shyam Narendra Phadte and Dr. Shashikant Rajaram Shinde. The society, registered under the Maharashtra Co-operative Societies Act, comprises 14 wings with 281 tenements of 1RK, 1BHK and 2BHK configurations.

The members challenged the redevelopment process undertaken by the society. They alleged that the managing committee received tenders from seven PMCs but arbitrarily shortlisted four without detailed technical comparative analysis or justification for excluding the remaining three. They further contended that ACIPL, headed by Architect Pravin Jadhav, was appointed as PMC even though Mr. Jadhav had earlier appeared as a representative or consultant for the developer during presentations. This, they claimed, created a gross conflict of interest and a breach of fiduciary trust. They also described the appointment letter as legally deficient.

Among the reliefs sought, the members specifically prayed that the Council of Architecture and respective government authorities be directed to terminate the licence of ACIPL and blacklist it for professional misconduct, technical fraud (including GST/accounting issues) and collusion.

During the pendency of the dispute, ACIPL filed an application under Order VII Rule 11(d) of the CPC read with Section 91 of the MCS Act seeking rejection of the dispute against it. The PMC argued that it is a private limited company engaged in architectural and project management consultancy, appointed by the society after a tender process and general body approval. It is neither a member, past member, nor a person claiming through a member of the society. All allegations against it, the PMC contended, were derivative of decisions taken by the society and did not disclose an independent cause of action. The specific relief of licence termination and blacklisting fell outside the jurisdiction of the Co-operative Court.

The Co-operative Court, Thane, rejected the PMC’s application, treating it as a necessary party whose presence was required for complete adjudication. Aggrieved, ACIPL preferred the revision. The society supported the PMC’s stand in the revision.

The Appellate Court examined the dual requirements of Section 91 of the MCS Act. Relying on Supreme Court decisions including Margret Almeida and Mohinder Kaur Kochar, it reiterated that for a dispute to fall within the exclusive jurisdiction of the Co-operative Court, both the subject-matter (constitution of the society, elections, general meetings, management, or business of the society) and the parties (members, past members, or persons claiming through members, among other enumerated categories) must satisfy the statutory conditions. If either condition is not met, the Co-operative Court lacks jurisdiction.

The Court held that ACIPL is an independent third-party professional consultant. The relief sought against it — direction to the Council of Architecture and authorities to terminate its licence and blacklist it — does not relate to the constitution, elections, management or business of the society. Such claims of professional misconduct or collusion, if any, lie before the appropriate professional body or a civil court, not the Co-operative Court.

The Court further observed that mere appointment as PMC pursuant to a general body resolution dated 25 May 2025, and submission of a feasibility report, does not confer any interest in the society’s property under Section 94(3) of the MCS Act. The core dispute remains inter se between members and the society regarding its internal management and redevelopment decisions. The PMC is neither a necessary nor a proper party for effective adjudication of that dispute.

The Appellate Court found that the trial court had lost sight of the jurisdictional bar under Section 91 and had misinterpreted the scope of Order VII Rule 11. It also distinguished the judgment of the Bombay High Court in Shreesh Kumar & Ors. v. Bramha Suncity Co-operative Housing Society Ltd. (Writ Petition No. 15261 of 2023). In that case, the promoter was impleaded because specific settlement resolutions between the society and the promoter, which allegedly reduced the land entitlement of the society, were under challenge. No comparable situation of compromise or direct impact on the society’s property rights existed in the present matter.

Accordingly, the Appellate Court allowed the revision, set aside the trial court’s order, and substituted it with an order allowing the PMC’s application and dismissing the dispute against ACIPL as barred by law. The dispute against the society and other proper parties, if any, can continue.

The ruling clarifies the limited scope of Co-operative Court jurisdiction in redevelopment-related disputes. Members retain the right to challenge the society’s decisions on tender processes, appointment of consultants, alleged procedural lapses or conflicts of interest before the Co-operative Court. However, they cannot use that forum to seek professional sanctions such as licence cancellation or blacklisting against a third-party PMC.

Also Read: Housing Society Committees Cannot Be Removed Arbitrarily by Cooperative Officials: Bombay High Court

The post Co-op Court Can’t Blacklist PMC in Redevelopment Dispute, Appellate Court Rules appeared first on Square Feat India.

• Seller: Tiger Shroff
• Buyers: Mehta Deepali Pravin and Aniruddha R. Khandekar
• Property: Flat 901, 9th floor, Wing D, Rustomjee Paramount, Khar West
• Carpet area: 1,291.14 sq ft (119.95 sq m)
• Exclusive areas: 95.80 sq ft
• Parking: two basement-2 car parks, T-14B2-129 and T-14B2-130
• Consideration: ₹9,00,00,000
• Original purchase: 17 July 2018 from Keystone Realtors for ₹7,60,86,700
• Possession then: 30 November 2019
• Sale Deed: 22 October 2026, registered as MBI11-22674-2026
• Stamp duty: ₹54,00,000 plus ₹30,000 registration

Actor Tiger Shroff has sold a ninth-floor flat at Rustomjee Paramount, Khar West, to Mehta Deepali Pravin and Aniruddha R. Khandekar for ₹9 crore, according to the registered sale deed provided by CRE Matrix, a real estate data analytics firm. The deed was made in Mumbai on 22 October 2026 and registered the same day as MBI11-22674-2026 at the Joint Sub-Registrar, Mumbai-11. Stamp duty of ₹54 lakh and registration fee of ₹30,000 (total ₹54.30 lakh; GRN MH012262965202627N, paid 21 October 2026 and defaced the next day) were deposited by the buyers. Document handling charges of ₹2,200 were paid on 22 October.

Tiger Shroff originally bought the flat from the developer, Keystone Realtors Private Limited, on 17 July 2018 for ₹7,60,86,700 under an agreement registered as BDR18-7483-2018. He received possession on 30 November 2019.

The flat

Flat 901 is on the 9th floor of Wing D, Rustomjee Paramount D Co-operative Housing Society Ltd, at Main Avenue Road, 18th Road, Khar West, Mumbai 400052. The carpet area is 119.95 sq m, or 1,291.14 sq ft, with exclusive areas of 8.90 sq m, or 95.80 sq ft. Two basement-2 car parks, numbered T-14B2-129 and T-14B2-130, go with the flat. At the sale price, that is about ₹69,700 a sq ft on carpet. The society, registered on 20 November 2019, has issued Share Certificate No. 12 for ten shares of ₹50 each, numbered 111 to 120, in Tiger Shroff’s name. A corpus fund of ₹34,61,400 standing to his credit is to be transferred to the buyers.

The parties and the price

The seller is Tiger Shroff, 36, of Flat 2201, Rustomjee Paramount Wing E, junction of Ramkrishna Mission Road and 18th Road, Khar West. The buyers are Ms Mehta Deepali Pravin, 46, of 605, Kalpana Besant Street, near Library, Santacruz West, and Mr Aniruddha R. Khandekar, 47, of Flat 8, Madhu Kunj, Plot 33, Nutan Laxmi Society, N. S. Road No. 10, Juhu Scheme, Vile Parle West.

Of the ₹9 crore, ₹3.27 crore came from the buyers’ self-funding, ₹9 lakh was deposited as TDS in the seller’s name, and ₹5.64 crore came through a loan taken by the buyers. The seller has confirmed that any earlier loan on the flat has been fully repaid and closed, and that the flat is free of mortgages, liens and other encumbrances. Vacant possession, the original share certificate and title papers are to be handed over on registration. Society transfer fees are to be shared equally. The society has issued a no-objection for the buyers to be admitted as members.

A resale of a 1,291 sq ft Khar West flat that Tiger Shroff bought from Keystone in 2018 for ₹7.61 crore, now closed at ₹9 crore, is on the public registration record circulated by CRE Matrix.

Also Read: Tiger Shroff Invests in Dubai Project ‘Breez by Danube,’

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Maharashtra’s real estate regulator, the Maharashtra Real Estate Regulatory Authority (MahaRERA), approved 435 housing projects on the occasion of Dussehra, paving the way for the proposed construction of 32,981 flats involving an estimated investment of ₹23,719 crore.

The approvals come during the festive season, when developers traditionally seek to launch housing projects and attract homebuyers. Alongside the new registrations, MahaRERA approved deadline extensions for 210 projects and corrections to the plans of 609 existing projects.

The figures cover three different regulatory processes: registering new projects, extending the declared completion dates of existing projects and approving changes to previously registered projects. These approvals can affect when homes are launched, how construction progresses and whether developers remain compliant with regulatory requirements.

Mumbai Metropolitan Region Records 201 New Registrations

The Mumbai Metropolitan Region (MMR) accounted for 201 of the 435 projects registered on Dussehra, making it the largest regional contributor by project count.

The breakdown provided by MahaRERA is as follows:

• Mumbai City and suburbs: 63 projects
• Thane: 70 projects
• Raigad: 36 projects
• Palghar: 25 projects
• Ratnagiri: 5 projects
• Sindhudurg: 2 projects

Thane recorded the highest number of registrations within the MMR, followed by Mumbai City and suburbs and Raigad.

The distribution shows that new project registrations are spread across established urban markets as well as surrounding districts. However, the number of registrations alone does not indicate the number of homes in each project, their prices or the pace at which they will be completed.

Pune Region Accounts for 140 Projects

Pune and its wider region recorded 140 new project registrations on Dussehra, according to MahaRERA.

The authority’s regional breakdown also includes:

• Satara: 13 projects
• Kolhapur: 8 projects
• Sangli: 3 projects
• Solapur: 3 projects

The combined figure reflects activity across Pune and surrounding districts rather than Pune city alone.

Beyond these two major regions, Vidarbha accounted for 32 projects, including 27 in Nagpur, four in Amravati and one in Akola.

Khandesh accounted for 24 projects, comprising 23 in Nashik and one in Ahilya Nagar. Marathwada recorded eight projects, including seven in Sambhaji Nagar and one in Nanded.

MahaRERA also approved two projects in Dadra and Nagar Haveli and one in Daman.

Why Project Extensions and Corrections Matter to Homebuyers

The Dussehra approvals were not limited to new registrations. MahaRERA also processed applications involving changes to existing projects and extensions of their declared completion dates.

Under the regulatory process described by MahaRERA, developers must obtain approval before making amendments, alterations or additions to an already registered project. Such changes are processed under the regulator’s corrections category.

Developers must also declare a completion date when registering a project. If they cannot complete it within the declared period, they are required to seek an extension from MahaRERA.

The regulator has stated that a project whose registration validity expires without an approved extension is categorised as lapsed, affecting its regulatory status and progress.

For homebuyers, these procedures matter because changes to an approved plan or delays in construction can affect the project they originally agreed to buy into. Regulatory scrutiny and timely approvals help maintain transparency, although an approval or extension should not be interpreted as a guarantee that a project will be completed on time.

MahaRERA’s Cumulative Approvals Reach 7,740

MahaRERA’s figures also provide a broader picture of its regulatory workload during 2026.

Between April and September 2026, the authority approved applications for 6,486 housing projects. These included 2,056 newly registered projects, 2,053 project-extension proposals and 2,377 proposals for corrections.

With approvals issued during October included, the cumulative total reached 7,740 applications, comprising:

• 2,491 newly registered projects
• 2,053 projects granted extensions
• 2,377 projects approved for corrections

The three categories add up to 6,921, which is 819 fewer than the stated cumulative total of 7,740. MahaRERA’s supplied figures do not explain the remaining applications or whether additional categories are included in the overall count.

The authority says its registration department has continued processing applications to enable projects that satisfy its legal, technical and financial requirements to receive approval during the festive season.

Festive Launches Still Depend on Compliance

Dussehra and Diwali are important periods for residential property launches, as developers seek to use the festive season to announce new projects and attract buyers.

The 435 registrations issued on Dussehra indicate a sizeable pipeline of new housing projects. The estimated investment of ₹23,719 crore and the proposed 32,981 flats provide an indication of the scale of development associated with these approvals.

For prospective homebuyers, however, a new registration is only the starting point. Buyers should check a project’s MahaRERA registration details, approved plans, declared completion date and other relevant disclosures before committing money.

As the Diwali season approaches, the key issue is not simply how many projects receive registration numbers, but whether developers comply with approved plans, meet their obligations and deliver homes in accordance with the applicable regulatory requirements.

Also Read: MahaRERA Officer Will Now Register Your Flat or Cancellation Deed if Builder Refuses

The post MahaRERA Approves 435 Projects for Dussehra, Covering 32,981 Flats Worth ₹23,719 Crore appeared first on Square Feat India.

Indian actor Sonu Sood has leased a commercial unit in Versova, Andheri West, Mumbai, under a rental agreement with a total stated value of ₹3.52 crore, according to property registration documents reviewed by Square Yards on the Maharashtra Inspector General of Registration (IGR) website. The transaction was registered in October 2026.

The deal provides for a five-year rental term, with the rent increasing annually. The agreement also involves a security deposit of ₹32 lakh.

Rent to Increase by Approximately 8% Every Year

According to the registration documents, the commercial unit is located in Versova, Aram Nagar, in Andheri West.

The rental agreement specifies the following annual payments:

• First year: ₹5 lakh per month
• Second year: ₹5.40 lakh per month
• Third year: ₹5.83 lakh per month
• Fourth year: ₹6.30 lakh per month
• Fifth year: ₹6.80 lakh per month

The annual rent escalation is approximately 8% over the preceding year. This means the rent payable in the fifth year will be significantly higher than the amount payable during the first year.

The transaction also involved stamp duty of ₹93,000 and registration charges of ₹1,000. The security deposit recorded for the agreement stands at ₹32 lakh.

Why Versova Is an Important Property Market

Versova, located in Mumbai’s western suburbs, is known for its residential developments, entertainment industry connections and coastal setting. Its connectivity through Link Road and SV Road, along with access to the Western Express Highway, makes the locality accessible to several commercial and residential hubs.

The area also benefits from access to Versova Metro Station and the nearby Andheri railway station. Its proximity to entertainment and business districts, restaurants, educational institutions and healthcare facilities has helped establish it as a prominent residential destination.

The planned Versova–Bandra Sea Link is expected to further improve connectivity in the western suburbs once completed.

These location advantages make Versova relevant to both residential and commercial property activity. However, the precise rental value of this transaction should be assessed in the context of the unit’s size, permitted use and other lease terms, details that are not provided in the available information.

Sonu Sood’s Career Beyond Films

Sonu Sood is an actor and film producer known for his work in Hindi, Tamil, Telugu and Kannada cinema. He began his acting career with the Tamil film Kallazhagar in 1999 and later appeared in films including Yuva, Jodhaa Akbar, Dabangg and Simmba.

He also became widely known for his humanitarian work during the COVID-19 pandemic, when he helped stranded migrant workers and students return home and supported people facing difficulties. Through the Sood Charity Foundation, he has continued to support initiatives involving education, healthcare and social welfare.

The Mumbai rental transaction adds to the publicly reported property activity involving prominent figures from the entertainment industry. The registration details indicate a five-year lease structure with scheduled rent increases, rather than a property sale.

Also Read: Sonu Sood Sells Mahalaxmi Apartment for ₹8.10 Crore

The post Sonu Sood Rents Out Commercial Unit in Mumbai’s Versova for ₹3.52 Crore appeared first on Square Feat India.

Dalal Street opened Friday on a firmer note after two days of losses, but property shares did not join in. The Nifty opened about 68 points higher near 22,755 and was trading around 22,737. The Sensex was up roughly 318 points at 73,567 by 9:30 AM. Only the IT index held in the green, and every other sectoral index, realty included, traded lower in opening deals.

The bounce comes after a poor Thursday, when the Sensex fell 0.62% to 73,249 and the Nifty 0.54% to 22,688, a second straight losing session. Realty stocks have been weak through both sessions, and the sector entered Friday near the bottom of its recent range.

Where the index stands

The Nifty Realty index last closed near 806 on Wednesday, down from about 830 on October 13. That is close to its recent closing low of 796.60 on October 8. It remains far below its 52-week high of 974.50 and well above the 52-week low of 638.65. A close under 796.60 would be a fresh warning sign for the sector.

What to look for through the day

The first question is whether realty can climb back above Wednesday’s level while the broader market holds its gains. The Nifty has support around 22,600, and a slide below it would likely hit rate-sensitive sectors again. Afternoon trade matters because rebounds have faded in recent sessions. Oberoi Realty trades ex-dividend today, so a small mechanical price adjustment is normal and should not be read as selling.

Trends behind the weakness

The sector has traded in a narrow, soft band for about two weeks, with buyers staying cautious. Demand is the lingering worry, since sales bookings of 28 listed developers fell 21% in April to June. September-quarter results have been mixed so far. Some developers reported solid profit growth, while bookings remain uneven from company to company.

Parameters moving realty stocks

• Crude oil: Prices at a five-month high stoke inflation fears and raise the odds that borrowing costs stay elevated.
• Global cues: US stocks ended mostly lower on worries about AI spending, and that mood has fed into Asia and India.
• Interest rates: The RBI’s tightening stance keeps home-loan costs central to the buyer story.
• Flows: Investors have been rotating toward IT and large caps while midcaps stay under pressure.

What to wait for

• Godrej Properties Q2 results (today): The board meets today and the analyst call is at 5 PM. The company led the sector’s bookings last quarter, and a year ago it posted record Q2 bookings of ₹8,505 crore and profit of about ₹403 crore. Those are the numbers to beat.
• Other developers: Dates for Lodha, Prestige, Brigade and others are unconfirmed, with November 14 the final deadline. DLF and Oberoi have already reported.
• Festive demand: Early launch and booking data before Diwali will show whether buyers are returning.
• Next RBI meeting: It is scheduled for December 2 to 4.

The outlook

Realty needs steadier crude and a more stable market to attract fresh buyers. Until then, expect choppy trade. The Godrej Properties results after the close will set the tone for the rest of the earnings season.

Also Read: Realty Stocks Open Carefully as Traders Brace for Three-Day Break After a Punishing Quarter

The post Realty Stocks Slip at the Open While Sensex and Nifty Bounce Back appeared first on Square Feat India.

The case, Complaint No. CC006000000195277, was filed by Mohammad Irfan Husain Kazi against LXMI Infra (the registered promoter) and Le Classique Realty Pvt. Ltd. The project in question is Aakash Complex at Vasundhara Nagari, Boisar West, Taluka and District Palghar, registered under MahaRERA project number P99000006053. The order was passed by Member-II Ravindra Deshpande. The matter was heard on May 14, 2026, and reserved for orders from June 3, 2026.

What the Homebuyer Claimed

The complainant stated that he booked Flat C-302 (35.46 sq.m. carpet area) and Flat C-303 (32.55 sq.m. carpet area) in November 2019 for ₹10.5 lakh each. He claimed to have paid a total of ₹22.67 lakh — ₹21 lakh towards the flats and ₹1.67 lakh towards stamp duty and registration — through cash and cheques between November 2019 and January 2020.

He alleged that no agreements for sale were executed, possession was not properly handed over (though keys were provided), the flats were later sold to third parties, the project was mortgaged, and the units suffered from defects such as water seepage and non-functional lifts. He sought possession, compensation with interest under Section 18 of the Real Estate (Regulation and Development) Act, 2016, and an injunction restraining creation of third-party interest.

Why the Authority Dismissed the Complaint

The promoter, LXMI Infra, denied any booking or receipt of payment and disputed the authenticity of the documents produced by the complainant. Le Classique Realty made no submissions.

The Authority examined the material on record and held that the complainant had failed to establish the foundational facts. The enquiry form relied upon appeared to be signed on behalf of Le Classique Realty and not the promoter. It did not show that LXMI Infra had allotted the flats or authorised the channel partner to conclude the transaction. The bank statement extracts also failed to clearly identify the recipient or link the payments to the promoter and the subject flats.

In the absence of proof that the promoter had allotted the flats and received the consideration, the Authority ruled that the complainant was not entitled to the reliefs claimed against LXMI Infra. The complaint was dismissed for want of sufficient evidence. The order does not prevent the homebuyer from pursuing other remedies before a competent court or authority. No costs were imposed.

Lesson for Homebuyers

This order highlights a critical point: under RERA, it is not enough to claim that payment was made. The homebuyer must prove that the allotment came from the registered promoter and that the money was received by the promoter. Payments made to channel partners, agents, or intermediaries without clear linkage to the promoter can leave buyers without an effective Section 18 remedy against the builder.

Homebuyers should verify the registered promoter on the MahaRERA website, make payments only into the promoter’s account, obtain an allotment letter or agreement issued by the promoter, and maintain a clear documentary and banking trail. Informal forms, brochures, or cash payments that cannot be traced to the promoter may not suffice when a dispute arises.

Also Read: MahaRERA Dismisses Complaint Against Developer Over Redevelopment Dispute

The post ₹22.67 Lakh Paid, Builder Says No: MahaRERA Dismisses Homebuyer’s Case appeared first on Square Feat India.

• Seller: Saif Ali Khan Pataudi
• Buyers: Sabina Salim Saudagar and Salim Saudagar
• Property: Flat 1301, 13th floor, Hi-cons Residency, 26th Road, Bandra West
• Carpet area: 797.49 sq ft
• Parking: two open car parks
• Consideration: ₹4,11,00,000
• Agreement to Sell: 7 March 2024, registered 11 March 2024 as BDR16-3715-2024
• Possession: 7 March 2024
• Final Sale Deed: 19 October 2026, registered as MBI10-22436-2026
• Stamp on Agreement to Sell: ₹24,66,000 plus ₹30,000 registration
• Stamp on Sale Deed: ₹500 plus ₹100 registration

Saif Ali Khan has completed the sale of a 13th-floor flat at Hi-cons Residency, Bandra West, to Sabina Salim Saudagar and Salim Saudagar for ₹4.11 crore, according to the registered sale deed provided by CRE Matrix, a real estate data analytics firm. The deed was made in Mumbai on 19 October 2026 and registered the same day as MBI10-22436-2026 at the Joint Sub-Registrar, Mumbai-10. Because stamp duty of ₹24.66 lakh and registration fee of ₹30,000 were already paid on the earlier agreement to sell, this final deed carries only ₹500 stamp duty and ₹100 registration fee (GRN MH012263014202627P, paid 17 October 2026 and defaced on 19 October).

The seller is Saif Ali Khan Pataudi, of Flat 1201, Satguru Sharan, junction of 24th and 25th Road, opposite Grand Residency Hotel, Bandra West. The buyers are Mrs Sabina Salim Saudagar and Mr Salim Saudagar. Sabina was earlier of Flat 605, Grand Residency, 26th Road, Bandra West. Both are now shown as residing at Flat 1301, Hi-cons Residency.

The flat

Flat 1301 is a residential premises of 797.49 sq ft carpet on the 13th floor of Hi-cons Residency, belonging to Hi-cons Residency Co-operative Housing Society Ltd. The building stands on Final Plot No. 175, CTS F/385 of village Bandra, TPS III, at 26th Road, Bandra West, Mumbai 400050. Two open car parks, as marked in the parking allotment letter dated 30 March 2007, go with the flat. At the agreed price, that is about ₹51,500 a sq ft on carpet. The society has issued Share Certificate No. 42 dated 2 September 2026 for five shares, numbered 206 to 210, of ₹50 each, following an order of the Deputy Registrar of Co-operative Societies dated 8 August 2023 directing the society to issue a separate share certificate for the flat.

How the deal closed

The agreement to sell was dated 7 March 2024 and registered on 11 March 2024 as BDR16-3715-2024. The buyers took possession on 7 March 2024. The total consideration is ₹4,11,00,000. Of this, ₹4,06,00,000 had already been paid before this deed, including ₹4,11,000 by way of TDS credited to Saif Ali Khan’s PAN. The balance of ₹5,00,000 was paid before execution of the sale deed. The earlier payments included cheques of ₹9.50 lakh and ₹1.50 lakh dated 8 September 2023 from State Bank of India, Chinchwad, Pune, and cheques of ₹2.45 crore from IDFC First Bank and ₹1,45,89,000 from SBI Chinchwad dated 5 March 2024.

The seller conveys the flat and the society shares free of encumbrances, and indemnifies the buyers against claims falling due before the agreement to sell. Outgoings before 7 March 2024 stay with the seller. The buyers are to enjoy quiet possession thereafter.

A two-and-a-half-year gap between the registered agreement to sell and the final sale deed of a 797 sq ft Bandra West flat, at ₹4.11 crore, is now on the public registration record circulated by CRE Matrix.

Also Read: Amrita Singh and Sara Sultan Let Andheri Office at ₹5.85 Lakh a Month

The post Saif Ali Khan Completes Sale of Bandra Flat for ₹4.11 Crore appeared first on Square Feat India.

Property shares opened in the red on Thursday as the whole market slid. The Sensex opened 366 points lower at 73,343 and the Nifty fell 124 points to 22,688. Weak Asian markets, crude oil near $110 a barrel and escalating Middle East tensions drove the selling. By 10 AM it had broadened into what one market desk called a sea of red, with every major sectoral index lower.

Realty was not the worst performer. A realty-linked index, the Nifty REITs & Realty, was down about 0.57% in early trade, among the more resilient pockets, while metals fell about 2% and autos nearly 1.9%. But the dip comes on top of a hard Wednesday, when realty shares fell 1% to 2% as the broader market bled and the midcap and smallcap indices lost more than 2% each.

What to look for through the day

The Nifty has slipped below 22,700, and analysts see 22,500 to 22,400 as the support zone, with a broad trading range of 22,500 to 23,150. A break below support could drag rate-sensitive sectors like realty down further. Watch whether buyers step in during the afternoon, since Wednesday’s early rally of about 1% faded completely. Watch also for any easing in crude. A fall in oil would be the quickest relief for realty stocks.

Trends behind the pressure

The sector has been range-bound and weak. The Nifty Realty index traded near 820 on Monday, well below its 52-week high of 974.50, after falling for two straight sessions. Demand is part of the story. Sales bookings of 28 listed developers fell 21% in April to June, and investors want proof that festive-season buying is recovering. Earnings so far have been mixed, with some developers reporting solid profit growth while bookings remain uneven.

Parameters moving realty stocks

• Crude oil: Prices near $110 stoke inflation fears, which raises the odds that borrowing costs stay high.
• Interest rates: The RBI’s calibrated tightening stance keeps home-loan costs and developer financing in focus.
• Rupee: At about 94.4 to the dollar, it adds to the imported-inflation worry.
• Global cues: Weak Asian markets and high US bond yields are pushing investors towards safer large caps.
• Geopolitics: Any further escalation in the Middle East could trigger another leg of selling.

What to wait for

• Q2 results: Godrej Properties is due to report on October 23 with an analyst call at 5 PM. Dates for Lodha, Prestige, Brigade and others are unconfirmed, with November 14 the last day to report.
• Festive demand data: Launch and booking numbers in the run-up to Diwali will show whether buyers are returning.
• Next RBI meeting: It is scheduled for December 2 to 4.

The outlook

Near-term moves will follow oil and global sentiment more than company news. Realty needs a steadier crude price and a stable Nifty to attract fresh buying. Until then, expect choppy trade, with earnings and festive sales offering the next real catalysts.

Also Read: Realty Stocks Rise as Market Returns From Break

The post Realty Stocks Open Weak and Extend Slide as Oil Near $110 Hits Dalal Street appeared first on Square Feat India.

The order is under Section 79A. It supersedes the 4 July 2019 resolution. The clause sits inside the list of points the development agreement must contain.

The bar is on the people who run the society

No committee member or office-bearer of the society shall be a developer or a relative of the developer.

The restriction is on committee members and office-bearers. It is not written against ordinary members who hold no office. A member who is not on the committee can, on the face of the clause, be related to the developer. The moment that person becomes a committee member or office-bearer, the bar applies.

Two things are prohibited. The committee member or office-bearer cannot himself be the developer. And the committee member or office-bearer cannot be a relative of the developer.

The order does not define relative

The clause uses the word and stops. The Maharashtra Co-operative Societies Act does not supply a general definition of relative that this order adopts. In ordinary use the word covers spouse, parent, child and sibling. How far it reaches cousins, in-laws or more distant relations is not answered in the text.

The order is also silent on the corporate form. If the developer is a company or a partnership and a director or partner is a relative of a committee member, the sentence does not draw the exact line. The prohibition is against a committee member or office-bearer being the developer or a relative of the developer. Societies and registrars have treated a firm or company controlled by a relative as the same conflict. The order itself does not say so in terms.

Why the clause exists

The committee negotiates the terms, shortlists the developer and later oversees the project. If a committee member is the developer, or is related to the developer, that person is on both sides of the bargain. The preamble of the order lists complaints about lack of transparency and prejudice to members. This sentence is one of the contractual bars meant to reduce that risk. The same bar existed in the 2019 resolution this order replaces.

If the bar is crossed, paragraph 16 applies

The clause is one of the points the agreement must carry. Paragraph 16 of the same order says that if the order is violated, or if deception, misappropriation or prejudice to members is found to have been done in collusion in the redevelopment, the responsible office-bearers and committee members are liable to action under Section 79A(3) and Section 78A.

Selecting a developer who is a committee member, or a relative of one, is a direct breach of paragraph 13(11).

Under Section 79A(3), if the Registrar is satisfied that a person responsible for complying with a direction failed without good reason, a committee member can be declared disqualified from being, or continuing as, a member of the committee of any society for six years from the date of the order. A hearing is required, and the federal society is consulted.

Under Section 78A, the Registrar may, after a hearing, supersede the committee and appoint another committee or an administrator for a period not exceeding twelve months under the current text of the Act, or remove the member. A removed member cannot be re-elected, re-co-opted or re-nominated to the committee of any society until the next one term has expired.

Neither section is a fine or custody. Both require a finding and a hearing. The order does not create a new criminal offence. It points to the Registrar’s existing powers. Liable to action is not an automatic disqualification the day the agreement is signed. It is the route the Registrar may take when the bar in paragraph 13(11) is broken.

When the check must be done

The check belongs before the selection meeting. Any shortlisted developer, and every committee member and office-bearer, should be tested against the clause. Once the agreement is signed with a related developer, the breach has already occurred. The clause is not a formality to be cured later.

Also Read: Part 1 of Society Redevelopment Series: Administrator Cannot Decide Society Redevelopment

The post Committee Member or Relative Cannot Be the Redevelopment Builder appeared first on Square Feat India.

Dalal Street reopened on Wednesday after Tuesday’s Dussehra holiday and started higher. The Nifty gained about 182 points to open near 23,071, back above the 23,000 mark, while the Sensex rose by more than 600 points. Hopes of an India-US trade deal, a rally in IT shares and gains across Asian markets drove the move. By 10 AM the Sensex was up about 573 points near 74,426.

That bounce follows a rough Monday. The Sensex lost 876 points, or 1.17%, to close at 73,852.90, with banking stocks a major drag.

Realty comes in with ground to recover

Realty ended Monday on the back foot. Lodha Developers fell about 3% to ₹1,029, Anant Raj lost nearly 3%, and Oberoi Realty and Aditya Birla Real Estate dropped close to 2% each. Godrej Properties slipped about 1% to ₹1,585, while DLF held up better, down under 0.5% at about ₹671. Today’s first test is whether the sector joins the broader recovery or stays a laggard while IT leads.

DLF’s numbers give the sector something to chew on

DLF reported September-quarter net profit of ₹1,301 crore, up 11% from a year ago, on revenue of ₹2,298 crore. EBITDA was ₹1,060 crore and operating cash flow ₹1,858 crore. The company ended the period with net cash of ₹15,084 crore even after paying out ₹1,980 crore in dividends.

New sales bookings were ₹3,800 crore, helped by a full sell-out at The Aureva in Gurugram and continued demand for the super-luxury Dahlias project. The picture is not all positive. Add the weak June quarter, when bookings were just ₹657 crore, and DLF has booked about ₹4,450 crore in the first half. That is roughly a fifth of its ₹20,000 crore FY27 target, so the second half will have to deliver far more.

What is driving realty stocks

Several forces are pulling in different directions:

• Crude oil: Prices near $110 a barrel, close to a five-month high, feed inflation worries and limit how far markets can rally.
• Rupee: At about 94.78 to the dollar, it is steadier today but still weak.
• Trade-deal hopes: Progress could lift sentiment across rate-sensitive and domestic-facing sectors.
• Developer divergence: Godrej Properties led bookings last quarter while DLF’s slumped, so company-level execution matters more than the sector label.

What to look for next

• RBI MPC minutes (today): They are due on October 21 and may show how divided the committee was on stance. The next policy meeting is December 2 to 4.
• Godrej Properties Q2 results (October 23): The board meets that day, with an analyst call at 5 PM. Its bookings and launch pipeline will be the next big read on demand.
• Other developers: Dates for Lodha, Oberoi, Prestige and others are not yet confirmed, with November 14 the outer limit for results.
• Festive sales: The run-up to Diwali will show whether buyers are returning after a weak first quarter.

The outlook

Realty needs numbers, not just a rising market. DLF has delivered on profit, but bookings will have to accelerate. Godrej Properties’ results on Friday are the next real test for sentiment.

Also Read: Realty Stocks Among Top Drags as Rate Hike Pressure Holds and Crude Tops $102

The post Can Realty Stocks Bounce Back From Monday’s Slide? appeared first on Square Feat India.