Real Estate News Update for July 24

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RERA

Lokhandwala Kataria Constructions gets notice from MahaRERA

MUMBAI: The MahaRera has issued showcause notices to Lokhandwala Kataria Constructions, promoters of the Rs 2,000-crore Minerva real estate project at Mahalaxmi, asking it why registration of the project should not be revoked for breach of conditions, which includes a claim made in an advertisement that it will be a 90-storey project and the tallest residential tower in India when the promoter has approval to construct only up to 77 floors.

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International

Ravi Ruia buys London mansion for Rs 1,200 crore

Billionaire Ravi Ruia bought a ￡113 million (about Rs 1,200 crore) London mansion linked to Russian property investor Andrey Goncharenko in one of the UK capital’s biggest residential deals in recent years.

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RERA

Supertech Hughes buyers stage protest at H-RERA office against builder for not refunding money

GURUGRAM: Homebuyers of a realty project staged a protest outside the office of the Haryana Real Estate Regulatory Authority (HERERA) here against the builder for neither refunding the money nor completing the project.

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Residential

Mumbai: Self-redevelopment picks up as residents fed up with builders

MUMBAI: In Mulund (east), a 23-storey residential tower is receiving the final touches. Civil and electrical work is being carried out, and workers paint and plaster the new apartments. In the next six months, the proud owners will move into their new homes four years after construction began.

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Regulatory

Delhi court dismisses Supertech chairman's bail plea

NEW DELHI: Delhi's Patiala House Court on Saturday dismissed Supertech chairman R K Arora's bail plea. He was sent to 14 days judicial custody on July 10, 2023. He was recently arrested by the Enforcement Directorate in a money laundering case.

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DDA launches housing scheme for 5,500 flats on first-come, first serve-basis

Shivalik Group achieves Rs 300 crore sales in GIFT City residential project within 15 days

Flat agreement price & stamp duty difference can't be taxed: ITAT

Enforcement directorate arrests Supertech's chairman in money-laundering case

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