Individual Transactions

1. MLS-3981-2026 (Survey No. 381 Hissa No. 1)

• Area: 00 Hectares – 89 Ares (0.89 Ha / 8,900 sq m)
• Consideration: Rs 1,39,95,000 (One Crore Thirty-Nine Lakh Ninety-Five Thousand)
• Stamp Duty: Rs 35,500 | Registration Fee: Rs 7,000 | Total: Rs 42,500

2. MLS-4007-2026 (Survey No. 382 Hissa No. 1)

• Area: 02 Hectares – 99 Ares (2.99 Ha / 29,900 sq m)
• Consideration: Rs 4,62,45,000 (Four Crore Sixty-Two Lakh Forty-Five Thousand)
• Stamp Duty: Rs 1,03,000 | Registration Fee: Rs 20,500 | Total: Rs 1,23,500

3. MLS-3990-2026 (Survey No. 382 Hissa No. 2)

• Area: 02 Hectares – 14 Ares (2.14 Ha / 21,400 sq m)
• Consideration: Rs 3,31,70,000 (Three Crore Thirty-One Lakh Seventy Thousand)
• Stamp Duty: Rs 1,000 | Registration Fee: Rs 1,000 | Total: Rs 2,000

4. MLS-3987-2026 (Survey No. 381 Hissa No. 2)

• Area: 04 Hectares – 38 Ares (4.38 Ha / 43,800 sq m)
• Consideration: Rs 7,07,90,000 (Seven Crore Seven Lakh Ninety Thousand)
• Stamp Duty: Rs 2,30,000 | Registration Fee: Rs 30,000 | Total: Rs 2,60,000

The lands are described as agricultural parcels in a rural zone. Valuation records accompanying the registrations reference “Hill Stations” purpose and non-agricultural conversion potential under applicable rules, though the deeds themselves convey the lands as agricultural. Payments were made partly prior to the deeds (as recorded in the earlier Agreements for Sale) and the balance by cheques on the date of execution. Document handling charges of Rs 2,200–2,400 per deed were also paid.

This is one of the larger recent land consolidations by a high-profile purchaser in the Mulshi–Pimpri belt, an area that has seen growing interest for residential and leisure developments.

Also Read: Ranbir Kapoor puts his Pune Home on Rent

The post Ranbir Kapoor Buys 10.4 Ha Pune Land for Rs 16.42 Cr in 4 Deals appeared first on Square Feat India.

Rahul Ajmera, a third-generation developer from Pune, shared the account on X as part of a series documenting why home bookings get cancelled. The story, he noted, was the second in the series, after an earlier post drew a response he had not anticipated.

The buyer had booked a flat with Ajmera’s firm in 2022. By all accounts, the transaction was proceeding normally. Then, as the possession date approached, the buyer went completely silent.

Ajmera’s sales team called repeatedly to follow up on the balance payment. There was no response. A man who had been days away from owning his home had, without explanation, become unreachable.

The answer, when it came, arrived not from the buyer but from his relatives. The buyer had run up heavy losses in illegal betting and was unable to clear the remaining dues on his flat. A gang to which he owed money had picked him up in Mumbai to recover their debt.

His brother-in-law visited Ajmera’s office and made a request the developer had not anticipated — he asked whether Ajmera could extend a loan for the outstanding amount, allow the family to take possession, rent the flat out, and repay the developer slowly.

Ajmera declined — but offered something the family had not considered. He cancelled the booking, returned the full amount paid, and charged nothing.

“They were stunned,” Ajmera wrote. “They had not imagined a developer would simply hand everything back.”

The decision, he explained, was shaped by a principle his father had passed down through decades in the business: that a home should bring a family happiness and prosperity, never become a source of its misery. “If a home purchase is causing someone pain, relieve them quickly and never penalise them. We can never prosper at the cost of someone else’s suffering.”

The account has drawn significant attention, not only for the builder’s response but for what it reveals about the pressures bearing down on homebuyers — pressures that sales data, project timelines, and market reports almost never capture.

India’s residential real estate sector has reported strong momentum through 2024 and into 2025, with top developers posting record bookings. But aggregate numbers mask individual-level volatility that sits invisibly beneath the surface. Booking cancellations remain a largely undisclosed metric across the industry, with developers seldom required to report them in granular detail.

What Ajmera’s account makes visible is a category of cancellation that has nothing to do with construction delays, pricing disputes, or loan rejections — the most commonly discussed causes of failed home purchases. Instead, it points to financial distress tied to illegal gambling, a sector whose scale remains deeply difficult to quantify.

The human cost in this case was stark. A buyer who had committed to a home, made payments over years, and was within a week of taking possession lost not just the flat but his personal freedom — held by a network recovering an unrelated debt.

For India’s homebuyers, the episode is a reminder that the road to ownership passes through terrain that no market report maps.

Also Read: Homebuyer Awarded ₹25,000 as Builder Pays Penalty to Continue Legal Fight

The post He Was 7 Days From Getting His Dream Home. The Betting Mafia Took Him Instead. appeared first on Square Feat India.

The agency has also confirmed the arrest of mastermind Pavel Prozorov in Spain, through Spanish Police authorities, marking a crucial development in an international cybercrime case that has defrauded Indian investors of thousands of crores.

How the Scam Worked

• OctaFX presented itself as an online forex trading platform for currency, commodities, and crypto trading — but operated without RBI permission.
• Investors were lured with promises of high returns, receiving small initial profits to build trust — a pattern typical of Ponzi schemes.
• Between July 2022 and April 2023, Indian investors were duped of approximately ₹1,875 crore, with profits of ₹800 crore generated by the platform in India.
• Over the 2019–2024 period, OctaFX is estimated to have made over ₹5,000 crore in total profits from India, most of which were illegally transferred abroad.
• Trading manipulation: OctaFX allegedly used fake candlestick charts and deliberate slippage to ensure investor losses.
• Global layering: Operations were distributed across multiple jurisdictions to evade scrutiny — with entities in BVI, Spain, Estonia, Georgia, Cyprus, Dubai, and Singapore playing different roles from hosting servers to moving funds abroad.

Property & Asset Trail

While a major portion of the laundered funds were parked in cryptocurrency wallets, ED’s investigation has also led to the attachment of properties and assets worth over ₹2,681 crore, which include:

• 19 immovable properties
• A luxury yacht in Spain, owned by Pavel Prozorov
• Multiple shell entities and assets spread across India, Spain, Estonia, Russia, Hong Kong, Singapore, UAE, and the UK

A part of the siphoned money was reintroduced into India as FDI, further complicating the money trail. Funds were routed through dummy entities and mule accounts, masked as e-commerce transactions, and later transferred overseas as fake imports of software and R&D services.

Why This Matters for Real Estate

For the real estate sector, this case is a reminder of how illicit foreign funds are often parked in physical assets like property and luxury goods to evade detection. Such assets are increasingly being targeted by enforcement agencies as they tighten their grip on money laundering channels.

ED’s action has implications for property due diligence and the need for stringent KYC and compliance checks, especially as large-value real estate transactions can be a conduit for laundering illicit proceeds.

Legal Action Underway

• ED has already filed a Prosecution Complaint (PC) and one supplementary PC against OctaFX and 54 accused individuals/entities.
• The Special PMLA Court has taken cognizance of the case.
• Further investigation is ongoing, including efforts to trace additional assets and funds abroad.

A Cautionary Note for Investors

The OctaFX case underscores the dangers of investing in unregulated forex or crypto platforms. Such schemes often use aggressive marketing, fake returns, and complex offshore structures to deceive retail investors.

Regulators have repeatedly warned against forex trading through unauthorized platforms, and investors are advised to verify the regulatory status of any financial platform before investing.

Also Read: ED Attaches Assets Worth ₹307 Crore Linked to Illegal Betting App ‘Fairplay’

The post ED Attaches ₹2,385 Crore in Crypto Linked to OctaFX Scam; Properties Worth ₹2,681 Crore Seized Including 19 Assets & Luxury Yacht in Spain appeared first on Square Feat India.

According to the registered sale deed accessed by SquareFeatIndia, the transaction was formalised on 9 September 2025. The document records Raheja Universal as the purchaser, while HDFC Bank Ltd. is shown as the seller.

Deal Value and Stamp Duty

The sale deed notes the consideration value of ₹211 crore for the transfer of the property. It also confirms the payment of ₹12.66 crore as stamp duty along with registration charges at the time of execution.

Property Details

Raheja Centre Point is a commercial building situated on C.S.T. Road, Kalina, Santacruz (East), Mumbai. The document describes the premises as comprising office spaces within the multi-storey complex. Publicly available property listings indicate a total built-up area in the range of 49,000–66,500 sq ft, spread across multiple floors including basements, upper levels, and terraces.

Counterparty and Background

With this transaction, Raheja Universal has regained ownership of a building that earlier served as part of its commercial portfolio. The sale deed accessed by SquareFeatIndia confirms the transfer of rights back from HDFC Bank Ltd. to the developer.

Market observers say Kalina’s proximity to the Bandra-Kurla Complex (BKC) has made it a sought-after commercial hub, drawing both investors and occupiers seeking cost-effective alternatives to BKC’s premium rentals.

Also Read: Raheja Universal Achieves Staggering ₹1,726 Crore Sales Milestone at Solaris, Navi Mumbai

The post Raheja Universal Reacquires Raheja Centre Point, Kalina for ₹211 Crore appeared first on Square Feat India.

GST on different types of housing

The tax rates on property transactions have not changed. What remains in force is a clear three-tier structure:

• Affordable Housing: 1% GST
  Applies to homes priced up to ₹45 lakh, with a carpet area of 60 sq. m in metro cities (Mumbai, Delhi-NCR, Pune, Bengaluru, Chennai, Hyderabad, Kolkata) and 90 sq. m in non-metros.
• Other Under-construction Homes (mid-income and luxury): 5% GST
  Applies to all residential projects outside the affordable definition. Whether a flat costs ₹60 lakh or ₹6 crore, the rate remains 5%.
• Completed, Ready-to-Move Homes: Exempt from GST
  Once a project has received its Occupancy Certificate (OC), no GST can be levied. However, buyers still need to pay stamp duty and registration charges as per state laws.

Material relief, but will it reach buyers?

While property tax rates remain unchanged, the GST Council has slashed cement duty from 28% to 18% and reduced marble, granite, and stone to 5%. Construction costs are expected to fall by 3.5–4.5%. Developers may benefit, but whether the cost savings are passed on to homebuyers remains to be seen.

Why clarity matters

With multiple rates and conditions, GST on homes often confuses buyers. Affordable buyers pay just 1%, luxury buyers pay 5%, and ready properties attract none. For buyers planning their next move, being aware of these distinctions can mean big savings and fewer surprises.

Also Read: 18% GST on residential rental to impact rental real estate

The post GST on Homes: Affordable at 1%, Luxury at 5%, Ready Flats Exempt appeared first on Square Feat India.

Addressed to former MP Gopal Shetty, the official letter dated 5 September 2025, outlines the formation of this expert committee. The aim is to swiftly assess root causes and propose actionable measures to resolve undue hardships faced by society residents.

The Team and Mandate

Four senior experts have been appointed to the committee:

• Adv. Amit Mehta
• Adv. Vivekanand Gupta
• Adv. Jayprakash Mishra
• Adv. Siddharth Sharma

They are instructed to conduct thorough inquiries and submit pragmatic recommendations for alleviating injustices stemming from OC-related delays.

Why the Move Now?

Delays in issuing OCs aren’t just bureaucratic glitches — they have far-reaching implications. Here’s a snapshot of the larger OC predicament:

• In Navi Mumbai, the municipal corporation identified 2,111 buildings occupied without OCs, despite holding commencement certificates. Authorities have warned that legal action will follow if these buildings don’t regularize their OC status promptly.
• In another case, the Bombay High Court severely reprimanded residents of a Tardeo high-rise lacking OCs for the upper floors, describing them as “a selfish lot” for compromising safety and regulatory norms. These residents have been directed to vacate within two weeks.

These instances underscore widespread procedural inertia and the pressing need for civic clarity.

BJP’s Role in Addressing the OC Crisis

The BJP’s initiative signals a proactive political stride — aiming to bridge administrative gaps and offer tangible relief to affected residents:

• Investigative Lens: The Study Cell will ascertain specific causes behind OC delays—be it fire safety clearance, infrastructure encroachments, or procedural lapses.
• Advisory Output: Based on findings, the panel will recommend clear protocols and solutions to fast-track OC issuance.
• Political Oversight: The BJP will likely use committee recommendations to influence streamlined governance and ensure residents aren’t deprived of their homes due to technical delays.

What’s Next?

With the committee now in place, residents of Mumbai’s affected housing societies may finally see a path toward resolution. Whether this effort catalyses policy change, bureaucratic reform, or legal clarity remains to be seen — but for now, it stands as the BJP’s tangible commitment to resolving a longstanding public grievance.

Also Read: MahaRERA Cancels Registration of ‘Rajlaxmi Developer’ Project Over Fake Commencement Certificate

The post BJP Constitutes Special Study Group to Tackle OC Certificate Delays in Mumbai Housing Societies appeared first on Square Feat India.

The Central Government’s recent decision to slash GST on cement from 28% to 18% has been hailed as a historic move. For developers, it translates into a 3–5% reduction in construction costs. On paper, this sounds like a big win for the housing sector and for affordability.

But the question that every homebuyer is asking — and should be asking — is simple: Will this benefit really reach them?

Past Lessons: Relief for Builders, Not Buyers

My two decades of reporting on Indian real estate have shown me one consistent pattern — whenever the government provides relief to developers, the benefits rarely trickle down to homebuyers.

Even Maharashtra Chief Minister Devendra Fadnavis highlighted this at a recent event with developers in Mumbai. He openly said that whenever builders came to him seeking reduction in government premiums and charges, he noticed that instead of home prices reducing, they actually went up. The relief padded builders’ profit margins, but buyers saw no respite.

The Infrastructure Paradox

There’s also the paradox of infrastructure. When new infrastructure is built, logic dictates that real estate prices should become more affordable due to improved supply and connectivity. Yet, the opposite happens in India’s big cities.

Take the example of Mumbai’s Coastal Road. This massive project has transformed accessibility, but instead of stabilising prices, it has fuelled them. In Worli today, homes are being sold at well above ₹2 lakh per sq. ft. Clearly, infrastructure is used as a justification to push prices higher, not lower.

So, Should Homebuyers Be Hopeful?

Frankly, I’m not optimistic. The GST reduction is significant, but if history is any guide, developers are far more likely to pocket the cost savings rather than pass them on. Homebuyers in India are fragmented, lacking the collective bargaining power that developers wield through their associations.

However, there is one step buyers can take. If you have recently booked in a project, organise collectively and ask your builder: If your construction costs are reducing by 3%, why can’t you pass on at least 1–2% of this benefit to us? It is only fair that the fruits of a government decision intended to support affordability also reach the people it was meant to help.

Conclusion

The government’s GST reform on cement is a bold and positive move. But unless developers show willingness to share the relief, homebuyers may once again be left out of the equation.

As someone who has reported on this sector for 20 years, my view is clear: until buyers demand accountability, the cycle will not change. Builders will continue to prioritise profit over affordability.

The question is — this time, will homebuyers raise their voice?

Also Read: Slash GST Rates, New Demand After Stamp Duty Cut

The post GST Cut on Cement: Will Homebuyers Really Benefit, or Will Developers Pocket the Gains? appeared first on Square Feat India.

The property registration documents for the deal, accessed by SquareFeatIndia, show that the transaction was registered on July 9, 2025.

Details of the Latest Purchase

The three offices are located on the first floor of the Boomerang building in Andheri East’s Chandivali area. Together, they span 13,546 sq ft carpet area.

The deal attracted a stamp duty of ₹1.86 crore and registration fees of ₹30,000. The sellers in this transaction were Manish Krishangopal Bazari, Shalini Manish Bazari, and Bazspace Pvt. Ltd.

Earlier Acquisition in the Same Building

This is not the Roshan family’s first investment in Boomerang. Property documents reveal that in September 2024, the same company purchased five office units on the fifth floor of the building for ₹37.75 crore.

Those offices, with a combined 17,389 sq ft carpet area, were bought on September 5, 2024, with ₹2.26 crore paid in stamp duty and ₹30,000 in registration fees.

Other Real Estate Moves by the Roshan Family

In addition to their commercial property buys, Hrithik Roshan and Rakesh Roshan made headlines last year for selling three residential apartments in Andheri for a total of ₹6.75 crore.

Also Read: Hrithik Roshan’s rent for this Juhu flat will shock you

The post Hrithik Buys Offices in Chandivali for ₹31 Cr appeared first on Square Feat India.

Recent posts on X (formerly Twitter), especially one by user @kingofknowwhere, reignited this debate. Their frustration over stagnant property prices in a flood-prone area like Manyata Tech Park provides a lens into the lived reality of thousands of homebuyers. But do their concerns align with the market data? The answer is more complex than a simple yes or no.

The Human Cost of Flooding

In a viral post dated May 19, 2025, @kingofknowwhere shared his personal story: having bought a house near Manyata Tech Park at the age of 24 in 2023, he now feels disillusioned at 26. In his words, the property has appreciated “barely more than a mutual fund”, a comment laced with disappointment. His frustration is compounded by recurring floods—highlighted by viral visuals nicknaming the area “Manyata Lake Drive”—and personal tragedies: a friend lost a bike worth ₹1.5 lakh in last year’s floods, and another died in E-City due to a road accident caused by skidding.

Yet, despite the chaos, his post is not a rejection of Bangalore but a plea to “expedite the betterment of the infra here.”It reflects a sentiment many urban dwellers resonate with: the emotional and financial investment in a city that often gives little back in return.

The Market Reality: Data Tells a Different Story

Interestingly, while @kingofknowwhere believes that property prices haven’t increased much near Manyata, data from multiple real estate platforms paints a different picture.

Price Trends Near Flood-Prone Areas (2021–2024):

(Source: 99acres.com, Hindustan Times, 2024)

So why the disconnect?

It’s possible that @kingofknowwhere’s property is an outlier—perhaps affected by localized micro-flooding, or purchased at peak pricing. But in general, the Manyata region has seen one of the highest appreciation rates in Bangalore, proving that demand often outweighs environmental concerns, particularly in job-centric zones.

Why Do Buyers Keep Coming Back?

Even areas severely affected by flooding continue to draw interest. Why?

• Proximity to IT parks: Convenience still trumps caution for many professionals.
• Upcoming Metro lines: New infrastructure projects boost future outlook.
• Limited supply: High demand and a shortage of quality housing push prices up.
• Tech ecosystem: The clustering of IT, co-working, and start-ups near Manyata makes it a magnet for mid- to high-income buyers.

As a result, developers and investors are willing to risk the floods—betting on Bangalore’s long-term promise over short-term pain.

The Infrastructure Bottleneck

Yet, the lived reality for residents tells a darker story.

According to comments on the same X thread, Manyata Tech Park was built on historical tank (kere) land linked to Nagawara Lake, a natural floodplain that has now been replaced by concrete. Bangalore has lost 79% of its water bodies over the last 50 years due to unplanned growth—contributing directly to its urban flooding crisis.

Moreover, recurring complaints about the “politician-contractor-builder-banker” nexus, systemic corruption, and inefficient civic planning were echoed by several users. Even mitigation efforts—such as dewatering systems installed by Embassy Manyata—have failed to fully prevent waterlogging, as seen in the May 2025 floods.

Solutions Being Discussed

Not all hope is lost. Constructive suggestions have emerged:

• Citizen Participation: X user @streetfrontier recommended ward-level engagement and working with local corporators to push for better infrastructure. Civil society groups have been active in areas like Bellandur and Whitefield with positive results.
• Decentralization of the IT Industry: Another suggestion involves spreading India’s tech growth across smaller cities, thus reducing the burden on Bangalore’s failing infrastructure.
• Better Urban Planning: Real estate experts continue to call for restoring natural drainage systems, protecting remaining lakes, and enforcing stricter zoning laws.

Conclusion: So, Does Flooding Impact Property Prices in Bangalore?

Yes and no.

YES, at an individual level, flooding can slow down appreciation or even cause stagnation—especially if the property is in a micro-location hit hard by infrastructure failure.

But NO, at the macro level, Bangalore’s real estate market remains resilient. The city continues to draw new residents and investments, and demand around IT corridors like Manyata Tech Park continues to push prices up, despite seasonal disruptions.

The Verdict:

Flooding may dampen living standards, but it hasn’t drowned investor sentiment.

Still, unless Bangalore addresses its infrastructure challenges holistically, the emotional and environmental costs of such growth could outweigh the financial gains—for both homeowners and the city at large.

Also Read: Neelkanth Infracon Directed to Compensate Homebuyers for Delay

The post Rain, Floods, and Real Estate: The Complex Relationship in Bangalore appeared first on Square Feat India.

The properties, located in the Khushi Belmondo residential project, are situated on the same floor. The total built-up area of the two apartments is 233.64 sq. m. (~2,515 sq. ft.), and the agreement includes two car parking spaces. The transaction incurred a total stamp duty payment of Rs. 86.91 lakh, along with registration charges of Rs. 30,000.

Santacruz West, a well-connected neighborhood in Mumbai’s western region, is known for its strategic location. The area benefits from excellent infrastructure, including major roads, a railway station, and proximity to Chhatrapati Shivaji Maharaj International Airport. It is also close to the Bandra Kurla Complex, Mumbai’s key commercial hub, which adds to the appeal of the location.

Khushi Belmondo, a ready-to-move-in residential project by Khushi World Developers, has seen strong demand, with one transaction amounting to Rs. 19 crore registered between January and December 2024.

Anu Malik, known for his exceptional contributions to Bollywood music, is a well-regarded composer and singer with over four decades of experience in the industry. He has composed music for numerous hit films and has been recognized with prestigious awards such as the National Film Award for Best Music Direction for Refugee (2001) and multiple Filmfare Awards, including Best Music Director for Baazigar and Main Hoon Na. Malik’s iconic work in films like Border, Judwaa, Ishq, and Mohra continues to resonate with music lovers. In addition to his musical career, Anu Malik has also been a prominent judge on popular reality shows like Indian Idol, further solidifying his legacy in the Indian music industry.

Also Read: anu malik home

The post Anu Malik, Along With His Wife Anju Malik, Sells Property Worth Rs 14.49 Crore in Mumbai appeared first on Square Feat India.