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Reliance to Receive ₹647 Crores from MMRDA in the BKC Convention Centre Case
In a landmark ruling, the Bombay High Court has directed MMRDA to return nearly ₹647 crore to Reliance Industries, holding that demands for delay penalty on the BKC Convention & Exhibition Centre project were arbitrary and illegal. The court cited the composite nature of the project, court stay, statutory delays and discriminatory policy on construction timelines.
Realty Stocks Open Firm but Selective; Sector Trails Broader Market Optimism
Real estate stocks opened with mild gains as Indian markets rallied on April 10, 2026. While large developers showed resilience, the sector continues to lag broader indices, pointing to a range-bound and stock-specific trading session ahead.
MahaRERA Orders Kolte-Patil Developers to Pay Interest for Delayed Possession in Vile Parle Redevelopment Project
MahaRERA has partly allowed a complaint by Manohar Shetty and Lalita M. Shetty against Kolte-Patil Developers, ordering payment of interest at SBI’s highest MCLR + 2% for the delay in handing over possession of a flat in the Jai Vijay redevelopment project from October 2019 to March 2020. The ruling underscores that contractual possession dates bind promoters despite project extensions or external delays.