04 Jul 2023

The Uttar Pradesh Real Estate Regulatory Authority (RERA) has ordered Noida-based developer NexGen Infracon to pay a fine for a five-year delay in giving a buyer possession of a unit. The buyer paid Rs 1.35 crore for the apartment in Mahagun Mezzaria, and rather than the anticipated date of December 2018, possession was given in 2021. NexGen Infracon was required by RERA to turn over the apartment or pay a late fee of almost Rs 16 lakh. The resolution emphasizes the value of RERA in defending homebuyers' rights.Read more

04 Jul 2023

As part of their Siddha Seabrook project in Kandivali, Mumbai, Siddha Group and Sejal Group have secured the Occupation Certificate for two Slum Rehabilitation Authority towers. Over 450 households are housed in the towers, with the tallest residential tower in Kandivali being in the Open Sale Component. Siddha and Sejal Group have been making significant strides in the redevelopment space in Mumbai, establishing themselves as major players in the industry.Read more

03 Jul 2023

COVIE, a top-tier player in India's luxury co-living sector, has bolstered its South Indian presence with the inauguration of Covie Karle Town, a premium living space in Bengaluru. The facility, offering 220 beds, caters to young professionals and signifies the addition of 500 beds by COVIE in Bengaluru in the last three months. The company's expansion strategy, driven by its mission to redefine shared living experiences and foster collaboration among millennials and Gen Z, is set to include another 500 beds in South India and 1,000 beds across India in the coming months.Read more

03 Jul 2023

K Raheja Corp Homes and media production company Cinevista have partnered to develop a four-acre parcel in Mumbai's Kanjurmarg locality. The premium residential project, expected to be completed within five years, will see K Raheja retain 75.5% of the developed space, while Cinevista will hold the remaining 24.5%. The anticipated total value of this ambitious development is estimated to exceed Rs 446 crore. This venture marks K Raheja Corp Homes' first project in Mumbai's eastern suburbs.Read more

03 Jul 2023

In an escalating dispute at Noida's Antriksh Golf View I society, residents allege the builder unsealed and sold off parking spaces intended for driveways and greenery. Despite sealing 11 of the 78 illicit flats last year, the Noida Authority's efforts have seen limited success. Residents claim two flats were discreetly unsealed and now face the prospect of unlawful sale. Promising to investigate these allegations, an official from the Noida Authority confirmed plans for an inspection. Meanwhile, attempts to reach the builder for comments have been unsuccessful.Read more

01 Jul 2023

Chintels India, the property developer of Paradiso residential complex, has barricaded Tower F due to the distressing sag of a balcony in flat 403. Citing safety risks, the developer has implored for immediate evacuation. Despite warnings, two families continue to reside in the affected tower. District town planner Manish Yadav has assured thorough inspection. Meanwhile, legal action questions the lack of rent settlement in evacuation orders, arguing that Chintels India should comply with regulations set under the Disaster Management Act, which include paying rent or providing alternate accommodation.Read more

01 Jul 2023

R K Arora, the chairman and owner of real estate company Supertech, has been apprehended by the Enforcement Directorate (ED) on allegations of money laundering. The ED's investigation revealed that Supertech and its directors were involved in a criminal conspiracy to defraud the public. The company collected funds from homebuyers and obtained loans for construction purposes, but the funds were misappropriated and diverted. As a result, the Supertech group defaulted on payments, leading to significant non-performing assets.Read more

30 Jun 2023

Saya Group, a prominent real estate developer in India, has announced its plans to build "Saya Status," India's tallest mall in Noida's Sector 129. Spanning over 13.5 acres of land, the mall aims to redefine the retail experience by offering a luxurious shopping destination with high-end retail outlets, entertainment zones, and fine dining options. With its strategic location and focus on sustainability, Saya Status aims to cater to the evolving demands of modern consumers. The project is expected to generate economic benefits, provide employment opportunities, and position Noida as a thriving commercial and retail hub.Read more

30 Jun 2023

G Square has launched G Square Aurora, a 9.63-acre residential plot project in Navalur, OMR Chennai. It offers 217 plots and 25 amenities, with DTCP approval and RERA registration. The location's proximity to the IT hub of OMR and high-value residential areas make it an attractive investment opportunity. G Square Aurora offers villa plots ranging from 536 sq. ft to 1364 sq. ft, with prices starting at Rs. 23.3 Lakhs. Early bird bookings are priced at Rs. 4999 per sq. ft, with the launch price set at Rs. 5300 per sq. ft.Read more

29 Jun 2023

The Punjab Vigilance Bureau (VB) has begun scrutinizing properties belonging to the Pearls Group in a chit fund scam. The VB is examining alienated properties and verifying ownership details to ensure accurate records. The investigation includes properties identified by the CBI and a list shared by SEBI. The government has instructed transparency measures in property transactions. Accused individuals are being summoned for investigation, and the Punjab Chief Minister has pledged accountability and strategies for the return of funds to deceived investors.Read more