MahaRERA Mandates Quality Assurance Submissions for Developers

EY: PropTech’s market size set to cross $600 Bn by 2047

The proptech segment within the real estate market is projected to grow exponentially, with its market size expected to reach $600 billion by 2047, up from the current $10.5 billion, driven by a technological revolution, according to a joint report by Credai and EY. The broader real estate sector is also anticipated to surge, crossing a market size of $4.8 trillion by 2047, compared to its current value of $300 billion, contributing more than 18% to India’s projected $26 trillion GDP target by the same year. The report highlights that the current penetration of ICT and proptech-based solutio..

?105-Crore Luxury Apartment Deal

Urjita Jagdish Master, a prominent stock market investor and director of Deep Financial Consultants, has acquired a sea-view luxury apartment in Mumbai's upscale Worli locality for over ?105 crore. Situated on the 59th floor (43rd habitable floor) of Oberoi Three Sixty West, this premium residence spans over 7,139 sq ft, making it one of India’s most expensive real estate deals, with a valuation of ?1.50 lakh per sq ft. The deal, finalized and registered on November 13, includes exclusive access to five car parking slots and incurred a substantial stamp duty charge exceeding ?2.89 crore. The..

NCLAT Limits Insolvency to One Project

In a significant ruling, the National Company Law Appellate Tribunal (NCLAT) has confined the insolvency proceedings against Raheja Developers to a single project, Raheja Shilas in Sector 109, Gurugram. The appellate tribunal's three-member bench, led by Justice Ashok Bhushan, directed that the Interim Resolution Professional (IRP) collate claims and submit a detailed status report on the project. The decision came in response to a petition by Navin Raheja, Chairman of the suspended board, challenging an earlier National Company Law Tribunal (NCLT) order that initiated Corporate Insolvency Res..