Browsing Tag

Mumbai

288 posts
In a blow to real estate borrowers, the Bombay High Court has ruled that a single mortgage securing multiple loans counts as separate transactions, forcing Mumbai developer Neepa Real Estates to pay an extra ₹72 lakh in stamp duty and penalties on ₹625 crore worth of loans.

Homebuyer Wins Relief: Developer Ordered to Fix Structural Issues in Flat

A Mumbai homebuyer, Palvinder Singh, has secured a partial victory against developer Mohan Lifespaces LLP, with MahaRERA ordering the rectification of structural defects in his flat. While a refund request was denied due to the timely issuance of the Occupancy Certificate and delayed possession by the buyer, the Authority mandated the developer to fix issues like wall cracks and tile problems within 30 days, upholding Section 14(3) of the RERA Act.
Boman Irani, Rustomjee

MHADA Awards GTB Nagar Sion Project to Keystone Realtors (Rustomjee Group)

MHADA’s ambitious redevelopment of Punjabi Colony in Sion’s GTB Nagar, Mumbai, is moving forward following crucial legal clearances from the Bombay High Court and Supreme Court. This project aims to transform the historically significant area, originally a refugee settlement for Partition-era migrants, by providing modern homes and additional housing.
Boman Irani, Rustomjee

MHADA Awards Tender to Rustomjee to Redevelop GTB Nagar Sion Project

MHADA’s ambitious redevelopment of Punjabi Colony in Sion’s GTB Nagar, Mumbai, is moving forward following crucial legal clearances from the Bombay High Court and Supreme Court. This project aims to transform the historically significant area, originally a refugee settlement for Partition-era migrants, by providing modern homes and additional housing.
The Bihar RERA has fined a developer ₹1 lakh for displaying "Coming Soon" posters and online ads for an unregistered project, holding that even minimal promotions violate Section 3 of the RERA Act and defeat buyer protection goals.

Developer’s Accounts Frozen for Failure to Pay Allottees, Tribunal Rejects Plea to Unfreeze

A Mumbai-based real estate developer, Altaa Construction, has had its plea to unfreeze bank accounts rejected by the Maharashtra Real Estate Appellate Tribunal. The accounts were frozen by authorities due to the developer’s continuous failure to comply with orders dating back to 2020, which mandated the payment of Rs. 71 lakh in interest to allottees. The Tribunal cited a “dilatory strategy with malafide intentions” on the part of the developer, noting the allottees’ five-year struggle to recover their dues.
eetendra Kapoor's family firms, Pantheon Buildcon & Tusshar Infra, sell a prime 2.39-acre Andheri land parcel with Balaji IT Park to NTT Global Data Centers for Rs 855 crore.

Jeetendra Kapoor Family Firms Sell Prime Andheri Land for Rs 855 Crore to NTT Global Data Centers

Firms owned by veteran Bollywood actor Jeetendra Kapoor and his family have sold a significant 2.39-acre land parcel in Mumbai’s prime Andheri area to NTT Global Data Centers & Cloud Infrastructure India for a staggering Rs 855 crore. The property, currently housing Balaji IT Park, marks a major real estate transaction in the city.