Mumbai: Blackstone has proposed selling up to 25.03% of its stake in Knowledge Realty Trust through an offer for sale, with the transaction valued at about ₹11,988 crore ($1.26 billion) at the floor price of ₹108 per unit. The offer comprises a 16.69% base offer and an additional 8.34% stake in case of oversubscription. Blackstone […]
Blackstone plans REIT stake salemore
A Legal Pause with Citywide Implications When a redevelopment project spanning 132 acres in two of Mumbai’s most valuable neighbourhoods reaches the Supreme Court, its impact extends far beyond the societies directly involved. The outcome has the potential to shape the legal interpretation of redevelopment rights, influence future urban renewal policies, and redefine the implementation […]
Supreme Court’s Interim Order Reshapes Mumbai’s Cluster Redevelopment Debatemore
Mumbai’s ambitious Dharavi Redevelopment Project (DRP) has moved a step closer to securing crucial infrastructure support, with the Brihanmumbai Municipal Corporation (BMC) proposing to lease 15 acres of reclaimed land at the Mulund dumping ground. The land is intended to facilitate construction-related activities for one of the country’s largest urban redevelopment initiatives while also generating […]
BMC Eyes Mulund Land for Dharavi Redevelopmentmore
India’s urban governance framework has entered a new phase with the Centre reorganising the Ministry of Housing and Urban Affairs (MoHUA) into two dedicated departments. The restructuring is aimed at creating a sharper administrative framework by separating the governance of the National Capital Region from nationwide housing and urban development programmes. The move is expected […]
Centre Reorganises Housing Ministry to Strengthen Urban Governance & Housing Policymore
Mumbai’s slum redevelopment programme has entered a defining phase, with ongoing projects now covering more land than has been redeveloped over the past three decades. The scale of activity reflects the government’s renewed focus on accelerating urban renewal, expanding affordable housing and improving living conditions for lakhs of families across the city. According to the […]
Slum Redevelopment Gains Momentummore
India’s rapidly evolving rental housing market continues to expose the gap between legal rights and on-ground practices. A recent dispute involving an alleged forfeiture of a ₹55,000 security deposit after a landlord discovered a tenant was living with her unmarried partner has once again brought rental agreements, tenant privacy and deposit protection into sharp focus. […]
Rental Rights Under Scrutinymore
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
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
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
