In a significant ruling for Mumbai’s redevelopment sector, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the mere execution and registration of a redevelopment agreement does not amount to the receipt of immovable property and, therefore, cannot trigger taxation under anti-abuse provisions of the Income Tax Act. The decision comes […]
ITAT Clarifies Tax Treatment of Redevelopment Agreementsmore
Consumer groups have raised concerns over MahaRERA’s commitment to transparency after the authority’s online dashboard tracking recovery warrants against defaulting developers remained unchanged for nearly six months, despite fresh recovery orders being issued during the same period. The “Recovery Warrants District Wise” section on the MahaRERA website was last updated on January 20. Although individual […]
MahaRERA Faces Questions Over Recovery Data Delaymore
Observing the growing number of unauthorised modifications in residential buildings, the Bombay High Court has directed the Maharashtra government to formulate comprehensive guidelines defining the kinds of alterations that can legally be undertaken in flats and housing societies. The court also instructed the Panvel Municipal Corporation (PMC) to take immediate action against unauthorised constructions identified […]
Bombay HC Seeks Clear Rules on Home Alterationsmore
Mumbai Chief Minister Devendra Fadnavis has announced a series of major urban renewal and housing initiatives, with the Dharavi Redevelopment Project emerging as the centrepiece of the state’s redevelopment agenda. Envisioned as an economic transformation programme as much as a housing initiative, the project aims to modernise infrastructure, strengthen connectivity and generate employment opportunities. The […]
Dharavi Redevelopment to Shape Mumbai’s Next Phase of Urban Growthmore
Maharashtra is grappling with a significant backlog in land measurement and survey-related matters, with 1,28,290 pending land survey cases across the state and an average resolution period of 121 days. The figures were shared by Revenue Minister Chandrashekhar Bawankule in the Legislative Assembly while responding to questions raised by MLA Bhimrao Tapkir. The pending cases […]
Maharashtra Moves to Address Land Survey Backlogmore
Mumbai’s satellite cities continue to attract large-scale investments, with the City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) leasing a prime land parcel in Nerul to a private developer for a substantial premium. The transaction reflects the growing demand for strategically located plots in Navi Mumbai, where residential and commercial development is gaining momentum. […]
CIDCO Leases Nerul Land Parcel for ₹177 Crore Premiummore
In a major relief for cooperative housing societies in Mumbai, the Maharashtra government has announced a substantial reduction in stamp duty for the registration of 99-year lease agreements executed on government-owned land. The move is expected to benefit thousands of societies that have faced financial and procedural hurdles in completing lease registrations over the years. […]
Maharashtra Cuts Stamp Duty on Housing Society Lease Agreementsmore
New Delhi/Mumbai, July 2026: Sanjay Ghodawat Group (SGG), a diversified conglomerate, has partnered with Nordstar Estates (Nordstar) to launch “NEVORA”, a next-generation institutional real estate development platform, marking its strategic expansion into India’s real estate sector. The joint venture will focus on developing residential and commercial projects across Mumbai and Bengaluru and their respective micro-markets […]
Sanjay Ghodawat Group Partners with Nordstar Estates; Targets ₹5,000 Crore GDV Through New Real Estate Platform ‘NEVORA’more
India’s residential real estate sector continued to demonstrate resilience in the first half of 2026, with the country’s eight largest housing markets collectively recording sales of 1,71,471 units, marking a one per cent year-on-year increase, according to a report by Knight Frank India. During the same period, new launches rose by four per cent to […]
India’s Housing Market Maintains Momentum in H1 2026more
A recent ruling by the Mumbai Income Tax Appellate Tribunal (ITAT) has provided significant clarity for property owners participating in redevelopment projects. The tribunal has held that compensation received from the transfer of redevelopment rights should be treated as ‘capital gains’ and not as ‘income from other sources’, potentially impacting thousands of redevelopment agreements across […]
ITAT Ruling Brings Tax Clarity to Redevelopment Rights Transfersmore
