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mumbai real estate news

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After two decades of legal battle, the Bombay High Court has ordered the vacation of three shops on a prime 450 sq yard open plot in Bandra, ruling that occupants inducted by the original lessee have no independent right once the head tenancy is terminated.

Developer Asked to Get OC or Pay Rs 129 Crore in Damages to Housing Society

Bombay High Court has upheld the arbitral award directing developer Lotus Logistics to obtain Occupation Certificate for Evertop Apartments rehab wing within extended 9 months — or pay ₹128.98 crore damages for shifting rehab FSI through fictitious “open-to-sky ducts” in revised plans, calling it an act of “deceit and misrepresentation”.
In a landmark ruling, the Maharashtra Real Estate Appellate Tribunal has directed Omkar Realtors to refund ₹7.69 crore plus interest from 2016 to a family for a flat in the stalled Omkar 1973 project, overturning MahaRERA’s order that denied interest and allowed a 2% deduction.

Why a Mumbai Builder Didn’t Have to Pay Tax on ₹55 Crore in Loans

Mumbai ITAT has dismissed a ₹55.5 crore tax addition on Supreme Lake View Bungalows Pvt. Ltd., confirming that properly documented and carried-forward loans cannot be taxed under Section 68.
Members of the Alkem Laboratories founder family have acquired a ₹62.81-crore ultra-luxury penthouse in Bandra’s Perry Road, reinforcing the area’s status as Mumbai’s premier luxury residential micro-market.

Alkem Laboratories Founder Family Buys ₹62.81-Crore Ultra-Luxury Penthouse in Bandra

Members of the Alkem Laboratories founder family have acquired a ₹62.81-crore ultra-luxury penthouse in Bandra’s Perry Road, reinforcing the area’s status as Mumbai’s premier luxury residential micro-market.
In a ruling that clarifies the scope of RERA protections, MahaRERA has held that an initial investment later converted into a registered flat purchase creates a valid allottee-promoter relationship, entitling the complainant to withdraw from a delayed project and claim full refund with interest, irrespective of COVID-related extensions.

MahaRERA Orders Interest for Delay in Gulraj Trinity Project, Allows 15 Homebuyer Complaints

MahaRERA has ordered Reliable Builders & Developers to pay interest for delayed possession to 15 homebuyers in the Gulraj Trinity project, holding that contractual possession dates cannot be overridden by unilateral extensions.
The Mumbai Income Tax Appellate Tribunal has ruled in favour of a Platinum Mall buyer in the Rubberwala Group case, holding that alleged cash payments cannot be taxed without solid proof.

Income Tax Tribunal Clears Buyer, Says ‘No Proof of Cash Payment’ in Rubberwala’s Platinum Mall Case

The Mumbai Income Tax Appellate Tribunal has ruled in favour of a Platinum Mall buyer in the Rubberwala Group case, holding that alleged cash payments cannot be taxed without solid proof.