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Society Told to Pay ₹11.38 Crore as Income from Redevelopment
In a major relief to housing societies, ITAT Mumbai has ruled that a Goregaon co-op society need not pay ₹11.38 crore tax on a 2015 redevelopment agreement that never materialised. The Tribunal held that notional stamp duty value does not constitute real income for the society.
Realty Stocks Open Mixed as Investors Turn Selective
Indian real estate stocks opened on a mixed note as selective buying in large developers like DLF and Godrej Properties contrasted with weakness in broader realty counters. Investors are increasingly favouring financially strong developers while remaining cautious on high-beta property stocks.