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HDIL Sold Non-Existent Flats, Society Denies Membership, Court Says Society Is Right
In a major victory for housing societies, the Bombay High Court has upheld the decision of Dheeraj Dreams CHS Ltd. to deny membership to buyers who purchased “flats” that never existed. HDIL had sold mandatory refuge areas as residential flats years after the developer lost rights over the property. The Court ruled that societies cannot be forced to admit members for non-existent flats as it would violate the law.
BKC Tenant Demands ₹50 Lakh Deposit Back — Wadhwa First Agrees to Pay, Then Demands ₹96 Lakh
In a striking case from Mumbai’s Bandra Kurla Complex, a tenant demanded its ₹50 lakh security deposit back, the Wadhwa firm first admitted it would refund after deducting just ₹5.42 lakh — but later tried to flip the script and demand over ₹96 lakh from the tenant. The Bombay High Court has now blocked this dramatic reversal.
Realty Stocks Open Weak as Market Volatility Persists; Sector Struggles for Direction
Real estate stocks began today’s session under pressure as Indian markets opened cautiously. With the Nifty Realty index continuing its recent decline and most developers trading weak, the sector is expected to remain volatile and range-bound through the day.