28 Jun 2023

Investors in Gurugram are up in arms against Ninaniya Estates Limited, accusing the developer of fraud and non-completion of two projects. The protesters, mostly senior citizens, gathered outside the developer's office demanding refunds for their investments in Prism Portico and Prism Suites. Despite multiple complaints to authorities, including the police, no action has been taken. The projects, launched in 2008 and 2011 respectively, have faced significant delays, leaving investors frustrated. The lack of response from Ninaniya Estates Limited and the absence of RERA registration for the projects have further fueled the investors' anger. Justice and accountability are being demanded by the aggrieved investors.Read more

28 Jun 2023

The Bombay High Court has taken a strong stance against the directors of Avarsekar Realty by issuing a showcause notice for civil contempt of court. This action was taken due to their willful disobedience of a court order in a petition filed by a flat purchaser of the builder's luxurious 42-storey skyscraper, which is currently under construction in Mahim. The buyer had initially approached the Maharashtra Real Estate Regulatory Authority (MahaRERA) to seek compensation for the delayed possession of the flat, thus commencing a legal battle.Read more

27 Jun 2023

Supertech Ltd., a prominent realty firm, aims to secure Rs 1,600 crore from institutional investors to complete its ongoing housing projects in Delhi-NCR. With 18 projects and 50,000 apartments, the company plans to deliver 17,000 flats within two years. It requires Rs 3,000 crore to finish pending work, with receivables of Rs 2,500 crore and unsold units worth Rs 10,000 crore. The proposed funding will aid construction, while revenue from sales will clear dues to banks, NBFCs, investors, and authorities. Despite legal challenges, Supertech's visionary promoter is determined to overcome obstacles.Read more

26 Jun 2023

The Lucknow Development Authority (LDA) is requesting plot owners in Sushant Golf City to provide a no-objection certificate (NOC) from the irrigation department for their building plans. This requirement has been implemented due to the ongoing investigation by the Central Bureau of Investigation (CBI) into the developer, Anal API, for encroachment on canals and irrigation department land. The LDA will form a team to compare the master plan with maps from the irrigation and revenue departments to determine the exact canal alignment. Decisions regarding building plans for affected properties built on encroached land will be made accordingly.Read more

26 Jun 2023

The Mayfield Garden Residents Welfare Association (RWA) in Gurugram is facing legal repercussions for constructing commercial structures at a designated dispensary site. The Department of Town and Country Planning (DTCP) has issued a restoration order after the RWA failed to respond to a show-cause notice. The order mandates the removal of unauthorized structures within seven days, with potential demolition if non-compliance occurs.Read more

26 Jun 2023

Residents of Noida's Logix Blossom Greens and Logix Zest are experiencing problems as a result of the community's dependency on diesel generators to provide electricity. The societies, created by insolvent Logix Infratech, have been unfinished for years. In order to reduce diesel usage, the insolvency resolution professionals imposed power outages and implemented a new tariff system, which raised electricity prices. In response to their increased usage over a predetermined period, the residents are now compelled to pay varied rates per unit, which has caused them to become irate and frustrated.Read more

26 Jun 2023

In Dombivli, Mumbai, the Runwal Group has begun construction on Central Avenue, the sixth phase of their Runwal Gardens development. The complex consists of two 32-story towers with more than 900 residential units that range in size from 421 square feet to 523 square feet. The units are priced starting at INR 44 lakh ($59,000). The project has excellent access to Thane, Navi Mumbai, and Mumbai. It is also adjacent to infrastructural developments like the Virar-Alibaug multimodal corridor and the proposed Kalyan Taloja metro line. An 11-acre central park, a cricket field, an amphitheater, picnic spots, and other facilities are also included in the project.Read more

23 Jun 2023

Ashiana Housing, a realty developer, plans to invest over Rs 275 crore in a senior living project spread across 11.93 acres in Pune's Talegaon locality. This will be the company's second project in Pune, catering to the growing demand for retirement communities. The project aims to provide retirees with ample space and a peaceful environment. Ashiana Housing sees senior housing as a focus area and aims to expand its portfolio to nine projects in the near future.Read more

23 Jun 2023

Pushpam Group, a renowned real estate developer, has launched Balibaug, a Bali-style resort located in Alibaug near Mumbai. Drawing inspiration from Bali's architectural charm, Balibaug offers luxurious villas with private pools, gardens, and Balinese design elements. The resort provides over 20 premium amenities, including restaurants, a spa, and a gym. With a focus on sustainability and hotel-like services, Balibaug presents an attractive investment opportunity for buyers seeking a holiday home and rental income. The project aims to contribute to Alibaug's transformation into a premier tourist destination.Read more

22 Jun 2023

Delhi NCR-based real estate developer, Gaurs Group, is set to construct 450 luxury apartments in Jaypee Greens, Greater Noida, with an investment of over Rs 500 crore. The development will be spread over 12 lakh square feet and is likely to be launched later this year. The pricing of these flats will depend on market conditions. The project is expected to enhance the offerings of the already flourishing 450-acre township and attract discerning homebuyers. The Gaurs Group is known for delivering exceptional projects, and their foray into Jaypee Greens is expected to uphold this reputation.Read more