20 Jul 2023

The promoters of Rashmi Housing, a realty developer undergoing insolvency proceedings, illegally sold 82 apartments in violation of the law. As a result, the National Company Law Tribunal (NCLT) nullified the sale and imposed fines on the promoters. The company was admitted under insolvency in 2018, and the suspended directors were informed about the implications of the moratorium. The resolution professional consistently maintained that no permission had been granted for sales agreements during or before the insolvency process. The NCLT's decision upholds the integrity of the insolvency process.Read more

19 Jul 2023

Enzyme Office Spaces, a leading provider of plug-and-play office solutions in Bengaluru, is expanding its managed workspace portfolio with a new facility in Whitefield. The 1 lakh square feet workspace, set to be operational by November 2023, will cater to the growing demand for flexible workspaces in the city. With this expansion, Enzyme Office Spaces will offer over 27,000 seats across Bengaluru. The company's success reflects the increasing popularity of managed workspaces, driven by cost efficiencies and the rise of hybrid work models. Enzyme Office Spaces aims to support emerging start-ups in sectors like fintech and AI, providing cost-effective infrastructure solutions.Read more

18 Jul 2023

Amayah, a project by Aranayam, offers 10 luxurious villas in the premium residential area of Assagao, Goa. It is the first Green Building certified project in the area, providing a chic environment and a sense of tranquility. Each villa features 4 ensuite bedrooms, a study room, servant's room, private pool, open-air shower, steam room, and more. The villas exhibit Indo-Portuguese architecture and limited-edition luxury, blending contemporary and modern elements. The gated community ensures safety and security, while the surrounding area boasts trendy eateries and boutiques.Read more

18 Jul 2023

The Sayar Group, a prominent real estate developer in the National Capital Region (NCR), has embarked on a new project called SAYA South X in Greater Noida. This development will feature fully furnished studio apartments. The project includes 300 apartments, each covering 688 sq. ft., with an investment of approximately 100 crore rupees. The Biztop business suites are expected to be ready within 6 months, with the complete project scheduled for completion by 2025. The SAYA South X project encompasses 8.75 lakh sq. ft. of built-up area on 3 acres of land, with prominent brands already signed up for space within the development.Read more

18 Jul 2023

Gera Developments, a leading real estate company in Pune, has announced legendary Bollywood actor Amitabh Bachchan as its Brand Ambassador. With this association, Gera Developments becomes the first Pune-based company to rope in the iconic superstar. Aligned with their philosophy of 'Let's Outdo', Gera Developments aims to enhance customer-centricity by offering innovative infrastructural ideas and theme-based projects.Read more

17 Jul 2023

Max Ventures & Industries Limited's real estate subsidiary, Max Estates, has achieved pre-formal launch sales worth over INR 1,800 crores for its inaugural luxury residential project, Estate 128, situated in Sector 128, Noida. The development spans 10 acres and comprises three high-rise towers with 201 units, embodying Max Estates' LiveWell philosophy. Construction is scheduled to commence in Q3 CY2023, with an estimated completion timeline of 48-60 months, complying with RERA guidelines. Max Estates aims to be a leading developer in the Delhi-NCR region, expanding its residential and commercial portfolio each year.Read more

17 Jul 2023

M-Sanvi Real Estate Pvt Ltd, a leading affordable housing company, aims to sell around 500 homes worth Rs 100 crore in the current fiscal year. The company plans to expand its operations through franchise businesses in several cities across India. Founder and CEO, Mukesh Kumar, expressed optimism about the growth of the real estate industry, citing factors such as economic growth, demographics, and foreign investment. M-Sanvi focuses on using innovative technology solutions and personalized services to cater to the housing needs of urban professionals. With affordable homes starting from 16 lakhs, the company primarily serves Delhi and the NCR region.Read more

15 Jul 2023

Man Infraconstruction's property development entity, MICL Real Estate, has made a significant acquisition by obtaining the development rights for ten adjacent housing societies in the Ghatkopar suburb of Mumbai. This strategic move was executed through MICL's subsidiary, MICL Creators LLP, in which it holds a 60% partnership interest. The redevelopment of these housing societies will be carried out as a cluster redevelopment project under regulation 33(9) of the Development Control Promotion and Regulation (DCPR), 2034.Read more

15 Jul 2023

Jag Mohan Garg, Chairman and Managing Director of Tirupati Infraprojects Private Limited, has been arrested by the Central Bureau of Investigation (CBI) on charges of a Rs.289 crore bank fraud. Garg is accused of illegally diverting loan funds intended for a luxury hotel project in West Delhi. The Bank of India-led consortium alleges that this fraud led to cumulative losses exceeding Rs.979 crore. Garg who was under CBI custody until July 13, awaits further legal proceedings. The CBI is conducting a rigorous investigation into the case.Read more

14 Jul 2023

The Antriksh Sanskriti housing project in Ghaziabad, which has faced significant delays since 2014, will now be completed through a collaborative effort between the developer and homebuyers. The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has allowed the builder and the association of allottees to jointly undertake the completion of 985 flats in the first phase of the project. The initiative aims to address the prolonged stalling of construction and ensure timely delivery of the remaining units by June 2025.Read more