Browsing Tag

stalled projects

10 posts
The Enforcement Directorate has arrested Amit Katyal, alleged aide of Lalu Prasad Yadav, in a massive ₹300-crore real estate fraud tied to Gurugram’s stalled Krrish Florence Estate project. Investigators uncovered fund diversion, fake bookings, undervalued land sales, and losses to a public sector bank.

Lalu Prasad Yadav’s Close Aide Amit Katyal Arrested in ₹300-Crore Real Estate Fraud: ED Cracks Down

The Enforcement Directorate has arrested Amit Katyal, alleged aide of Lalu Prasad Yadav, in a massive ₹300-crore real estate fraud tied to Gurugram’s stalled Krrish Florence Estate project. Investigators uncovered fund diversion, fake bookings, undervalued land sales, and losses to a public sector bank.
Gurugram has emerged as India’s top ultra-luxury housing market, clocking ₹24,120 crore in sales of homes priced above ₹10 crore in 2025 and overtaking Mumbai in high-end real estate demand.

📰 Homebuyers Beware: India’s Housing Boom May Have Peaked — Construction Delays Raise Red Flags

India’s housing market may be at its turning point. A new Liases Foras report says luxury sales are booming, but construction progress is lagging behind — a warning that the real estate cycle could be peaking.
The Maharashtra Real Estate Appellate Tribunal has ruled that RERA does not allow homebuyers to return a flat and seek refund after taking possession, holding that acceptance of possession closes the exit route under Section 18 of the Act.

📝 Stalled Since 2017, This Real Estate Project Gets MahaRERA Green Light After Legal Knot Unravelled

Stalled since 2017, Pune’s Marvel Basilo project has received MahaRERA’s go-ahead to resume construction and sales after key legal battles were settled. The order brings long-awaited clarity and relief to homebuyers caught in delays for nearly a decade.
The Maharashtra Real Estate Appellate Tribunal (MahaREAT) set aside a MahaRERA order, ruling that a cooperative housing society that terminates a developer and undertakes self-redevelopment is not a 'Promoter' under RERA and is not liable for the former developer's debts or obligations to third-party allottees.

MahaREAT Landmark Ruling: Housing Societies Not Automatically ‘Promoter’ for Erstwhile Developer’s Liabilities

The Maharashtra Real Estate Appellate Tribunal (MahaREAT) set aside a MahaRERA order, ruling that a cooperative housing society that terminates a developer and undertakes self-redevelopment is not a ‘Promoter’ under RERA and is not liable for the former developer’s debts or obligations to third-party allottees.
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.

Homebuyers Win Back Route to MahaRERA, But Tribunal Limits Refund to Principal Only

In the stalled “Ten BKC” project case, the Appellate Tribunal has remanded the matter back to MahaRERA for execution, affirming that homebuyers will recover only their principal investment, not the interest earlier granted. The ruling underscores that IBC prevails over RERA when a developer enters insolvency.