After 3-hour questioning, ED arrests TMC's Shahjahan for non-cooperation
India News: Sheikh Shahjahan arrested after non-cooperative questioning. Faces 15-16 land grabbing complaints. ED seeks custody in Rs 12 crore properties attached Key Points
Times Of IndiaDelhi’s big-ticket property deals come to standstill
Delhi's big-ticket property transactions are affected as the Land and Development Office (L&DO) delays the conversion of leasehold properties into freehold. Around 100 such transactions are on hold, causing distress to industry stakeholders. Elderly, widows, and ailing senior citizens are suffering the most. The government is also facing revenue loss due to halted property transactions and loss of freehold conversion charges and stamp duty payments. The involvement of multiple authorities is affecting Delhi's high-value property market. Key Points
Economic TimesRegistration of properties in Pune up 7 pc in Nov amid strong housing demand: Knight Frank
New Delhi, Dec 10 (PTI) Registration of properties in Pune rose by 7 per cent annually to 14,607 units in November on higher demand, according to Knight Frank India. Real estate consultant Knight Frank India on Sunday released properties’ registration numbers of Pune compiled from the Maharashtra government data. A total of 14,607 units were […] Key Points
ThePrintED provisionally attaches 31 immovable properties in Goa collectively valued at Rs 39 crore
Panaji (Goa) [India], November 25 (ANI): The Directorate of Enforcement (ED) has taken a significant step in the fight against money laundering by provisionally attaching 31 immovable properties in Goa, collectively valued at Rs 39.24 crore (circle rate). According to a press release, this action comes as part of the ongoing money laundering investigation targeting […] Key Points
ThePrint37 enemy properties across UP auctioned for Rs 6 crore
In the second batch, the government had listed 27 new properties, free from any legal hindrances, and added to the list of 10 properties which remained unsold in the first auction, said officials. The properties were identified as agricultural land valued below ?1 crore each. They were recommended for sale by the Enemy Property Disposal Committee and approved by the Union home ministry. Key Points
Economic Times
PSBs told to speed up sale of defaulters' properties
The Indian finance ministry has requested state-owned banks to expedite the development of an advanced property auction platform and mobile app. Around 500,000 properties owned by state-owned lenders will be listed on the platform, offering bidders access to ownership details, photographs, videos, and other information. Currently, state-owned banks advertise properties for sale, but they often go unnoticed. Key Points
Economic TimesIndependence Day: Govt sits on a Rs 1 lakh crore bonanza from India's enemies
Enemy properties are those that were once owned by individuals who took Chinese or Pakistani citizenship after India fought wars with these countries. Besides real estate, enemy property may also include bank a/cs, shares, gold, and other assets of such individuals. Key Points
Economic TimesCommercial or Residential Property: Which is the ideal investment option? Here are some tips
Investing in real estate can provide long-term financial stability, with both commercial and residential properties offering their own unique benefits. Residential properties offer stability and consistent demand, with a steady rental income. Commercial properties offer long-term leases and annual rent increases ranging from 5% to 8%, with returns remaining as high as 12% per annum. Key Points
Economic TimesGodrej properties to buy 7.44-acre land parcel in Kolkata, to build housing project of Rs 1200 cr sales value
In a regulatory filing, realty firm Godrej properties Ltd informed that it will acquire a 7.44-acre land parcel at New Alipore in Kolkata from West Bengal Housing Infrastructure Development Corporation Ltd. Key Points
FinancialexpressPublic Sector Banks plan app for e-auctioning 500k properties
State-run banks will set up an e-auction app to dispose of about 500,000 properties over the next five years. Our target is that in the next five years, around six lakh transactions be done through the app, which include over one lakh auctions, and loan applications for those properties, said a senior bank executive, who did not wish to be identified. Key Points
Economic Times
Godrej properties shares soar over 8% in trade on best ever fiscal results; Nifty Realty adds 3.6%
Godrej properties stock price gains up to 8.3% as a result of its positive Q4FY23 and FY23 results. Key Points
FinancialexpressSurveying of enemy properties in U.P. likely to speed up
Earlier in November, during a meeting of the State Home department, U.P. CM Yogi Adityanath issued guidelines to ensure the security of such properties located in different districts Key Points
The HinduHyderabad records 25% YoY growth in property registrations for October 2023: Report
The Hyderabad housing market is experiencing a surge in demand for improved residential environments. The RBI's decision to keep interest rates stable has boosted homebuyer confidence. Registrations for properties sized 1,000-2,000 sq ft accounted for 69% of the total Key Points
mintGodrej properties acquires 3-acre land in Ahmedabad to build housing project worth Rs 1,300 cr
New Delhi, Oct 21 (PTI) Realty firm Godrej properties Ltd (GPL) has acquired around 3 acres of land in Vastrapur, Ahmedabad to develop a housing project having an estimated sales of Rs 1,300 crore. The company did not disclose the deal value and the name of the seller. “The development on this land is estimated […] Key Points
ThePrintGovt surveys properties who adopted Pakistani, Chinese citizenship after wars
There are 12,611 assets, or enemy property, across 20 states and three union territories..A total of 12,485 are related to Pakistani nationals and 126 belong to Chinese citizens Key Points
mint
Dawood Ibrahim's two ancestral properties sold off at auction
Two properties linked to fugitive gangster Dawood Ibrahim's family were sold at an auction in Mumbai organized under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act. The auction featured four properties in Maharashtra, with two receiving bids. Key Points
Economic TimesProperty seizures jump after UAPA changes in 2019
The rise in the number of seizures can be attributed to the amendments brought in 2019, when the director general of NIA was given powers to grant approval for seizure of property in cases being investigated by the agency. Earlier, the central agency needed approval from the DGP of the state. Key Points
Economic TimesMumbai clocks property sales of 10,214 units in July
The revenue from stamp duty also dipped by three per cent from ₹859 crore in June 2022 to ₹832 crore this month. The share of properties priced above ₹1 crore was on the rise in the first seven months, the report said. | Mumbai news Key Points
Hindustan TimesResale property market booms amid price hikes, scarcity of ready homes
Sales of completed or nearing-completion homes by first owners are booming as demand outpaces market supply, with prospective buyers increasingly viewing the resale market as a viable alternative. Factors contributing to this trend include a scarcity of newly constructed properties ready for immediate occupancy, a dearth of new developments, and escalating price hikes in major markets. Key Points
Economic TimesYour Next Landlord Could Be 100 Random People
Startups are buying properties and wooing first-time real estate investors to buy shares. The model could have real repercussions for renters. Key Points
WIRED
Dawood Ibrahim's ancestral properties in Maharashtra to be auctioned on Jan 5
Several ancestral properties of fugitive underworld don Dawood Ibrahim will be auctioned on January 5. These properties include agricultural plots in Mumbke village in Maharashtra's Ratnagiri district, which is the ancestral village of Dawood Ibrahim. Key Points
India TodayA first: Nagaland woman MP presides over RS
Phangnon Konyak, the first woman member from Nagaland in the Rajya Sabha, presided over the House on Tuesday. Sansad TV posted a short video of Konyak in the chair presenting the Constitution (Scheduled Tribes) Order (Fifth Amendment) Bill, 2022 before the members for voting. She is also president o Key Points
The Tribune IndiaTargeting Muslims or anti-encroachment drive? — Nuh demolition puts spotlight on action after clashes
Locals claim demolition drive, which began after 31 July communal violence, meant to teach Muslims in Nuh a lesson. Similar pattern of punishment observed in the past in other states. Key Points
ThePrintNIA attaches properties of 2 Kashmiri ‘LeT operatives involved in 2015 BSF convoy attack’
The two accused, currently under trial, are Fayaz Ahmed Itoo & Khursheed Ahmed Bhat. Seizures include four immovable properties, including ‘houses of Itoo & Bhat in Kulgam & Pulwama’. Key Points
ThePrintED takes possession of 15 'benami' assets linked to DMK MP A Raja
The Enforcement Directorate (ED) has issued a statement indicating that it has assumed control of 15 immovable properties registered under the name of A Raja's benami company, Kovai Shelters Promoters India Pvt Ltd. This action has been taken in connection with a disproportionate assets case involving A Raja, the former Union cabinet minister of environment and forest. Key Points
Economic Times
Bribes and premiums to BMC push Mumbai property prices higher than in Dubai
Real estate buyers in Mumbai are facing exorbitant charges and bribes from authorities, making the already expensive city even more costly. Builders are forced to pay significant bribes to obtain building permissions, resulting in inflated prices for buyers. Some argue that there is no justification for Mumbai's real estate prices being higher than those in Dubai. Key Points
Economic TimesMarch saw over Rs 1,215 crore revenue collection from stamp duty, registration fees in Mumbai
In 2020, Covid-19 also affected the real estate market like other businesses. In 2021, in all 17,728 properties were registered and revenue collected was Rs 874 crore. In 2022, in all 16,726 sales registration took place and with Rs 1,160 crore revenue collected. Key Points
The Indian ExpressPNB scam case: Nirav Modi's solar plant, Mumbai flat up for auction to recover dues, says report
Besides, the DRT-I plans to auction off two large land parcels belonging to Modi and his group company, Firestone Trading Pvt. Ltd. Both the land parcels are currently mortgaged with the Union Bank of India. Key Points
Business TodayBesides Mukhtar and Atiq, 25 others convicted in four years
25 mafias, incl. Mukhtar Ansari, Atiq Ahmad, Vijay Mishra, convicted in UP. Police seizing properties worth Rs 3,864 crore. Prashant Kumar oversees op Key Points
Times Of IndiaED attaches properties worth Rs 2.88 cr in nursing recruitment scam case
New Delhi [India], January 8 (ANI): The Directorate of Enforcement (ED) has provisionally attached movable and immovable properties worth Rs 2.88 crore including nine residential and business premises belonging to multiple persons accused in the nursing recruitment scam case, an official statement said on Monday. ED also stated that four fixed deposits and five term […] Key Points
ThePrint
ED attaches Congress MP Karti Chidambaram’s properties worth ₹11.04 crore in INX money laundering case
The Enforcement Directorate (ED) on April 18 attached properties to the tune of ₹11.04 crore belonging to Congress MP Karti Chidambaram in the INX money laundering case. Key Points
The HinduED provisionally attaches properties worth Rs 4.81 crore in bank fraud case
New Delhi [India], March 11 (ANI): The Directorate of Enforcement (ED), Srinagar Zonal office has provisionally attached immovable properties valued at Rs 4.81 crore. According to a press release, the properties, consisting of land and buildings, are linked to individuals involved in a bank fraud case in Jammu and Kashmir. The ED’s action comes as […] Key Points
ThePrintWhat should be done if relatives question our rights on property?
A UK-based NRI's relatives in India are questioning the authenticity of his father's will and ownership of property. He must obtain confirmation of the will's probate from a UK court, then use an authenticated copy of that will to obtain letters of administration from an Indian court having competent jurisdiction. If there is any question on the validity of the will, Indian courts will have to try this before allowing the executor to administer the properties in India. In such cases, a deed of family arrangement signed by all members or beneficiaries may be a prudent option to avoid litigation. Key Points
mintBest-ever April for Mumbai property stamp duty collection despite lower registrations
The state exchequer's revenue saw a 15% YoY increase to over Rs 845 crore ($113m), although registration was 15% lower at 9,933 deals. South Mumbai showed the highest uptick in sales, and properties under Rs 10m ($134,000) remained the most popular. Apartments measuring 500 sq ft to 1,000 sq ft remained buyers preference, accounting for 44% of all registrations. Key Points
Economic TimesDelhi-NCR’s micro markets continue to stay buoyant
The real estate markets in the top three micro-markets of Delhi-NCR – Delhi, Noida and Gurgaon – are witnessing an upswing in demand and value. Real estate continues to be the best investment option in Delhi-NCR micro-markets, with people choosing to prefer these cities over others to live. In a report by Research & Reports […] Key Points
Financialexpress
Delhiites can get properties booked for action ‘regularised’ as MCD House clears AAP's proposal; Check steps here
The Municipal Corporation of Delhi House approved a proposal for the regularisation of booked properties in Delhi while the BJP accused the AAP of opening new avenues of corruption. Check the steps outlined for the regularisation process here. Key Points
mintPVR Inox says it will open 150 screens next fiscal with Rs 500 cr investment
PVR Inox, India's largest multiplex operator, is planning to open 150 screens in the next fiscal year with an investment of approximately Rs 500 crore. The company already operates 118 screens across 23 properties in Mumbai and a total of 1,711 screens at 359 properties in 114 cities, including Colombo. Key Points
Economic TimesMumbai property market’s record-setting spree continues with best August ever
The countrys commercial capital has recorded its best performance in August ever with registration of over 10,716 properties during the month, up 25% from a year ago. Revenue collection through stamp duty charges also rose 24% to over Rs 797 crore, showed data from the inspector general of registration, Maharashtra. Key Points
Economic TimesCovid jumbo centres scam: IAS officer’s properties worth Rs 100 cr under ED lens
On Thursday, the ED carried out searches at four places, including two locations in the MMR region belonging to senior BMC officials and a suspect supplier. The agency is now trying to ascertain how many of these properties are linked to proceeds of crimes. Key Points
The Indian ExpressLong weekend business booming for hotels, cruises, travel firms
Indians are leveraging every opportunity to take a “minication”, said Rajeev Kale, president and country head for holidays, MICE and Visa at Thomas Cook (India). The companys data reflects a 25%-30% year-on-year surge for long weekend breaks across both domestic and outbound destinations, he said. Key Points
Economic TimesNo embargo on Sahara Group to sell properties for depositing Rs 10K cr: SC
The Supreme Court on Tuesday said there is no embargo on Sahara Group to sell its properties for depositing around Rs 10,000 crore in SEBI-Sahara refund account for returning investors' money. In a series of directions on August 31, 2012,... Key Points
The TribuneED attaches 24 properties worth over Rs 82 crore in bank fraud case of Parabolic Drugs
New Delhi [India], March 27 (ANI): The Directorate of Enforcement (ED) has attached 24 immovable and movable properties totalling Rs 82.12 crore in the bank fraud case of Parabolic Drugs Limited, the agency said on Wednesday. The properties are in the form of cash, luxury cars, mutual funds, Fixed Deposit Receipts, bank balances. The properties […] Key Points
ThePrintMumbai house rentals surge as companies bet on hybrid work culture
More employees have returned to the city over the last one year and this has led to the rise in rental values of residential properties by almost 20% during this period. Residential demand, especially in the rental segment, started witnessing a sudden spike since last summer, said property brokers. Key Points
Economic TimesIdentify low-value assets for sale, govt asks BSNL, MTNL
Though BSNL and MTNL have received a revival package totalling Rs 1.64 trillion from the government, asset monetisation is crucial for them to repay debts and meet capital expenditure requirements. Key Points
FinancialexpressHow does the location of a house impacts its value?
The location of a property plays a crucial role in determining its value and desirability. Here's how. Key Points
Financialexpress
ED attaches Rs 12 crore worth property of suspended TMC leader Shajahan Sheikh
ED, Kolkata has provisionally attached movable and immovable assets worth Rs. 12.78 Crore in the form of 14 immovable properties in the nature of apartment, agriculture land, land for fishery, land and building etc. in Gram Serberia, Sandeshkhali and Kolkata and two bank accounts under the provisions of PMLA, 2002 in the matter of Shahjahan Seikh and others, the ED said in a statement on X. Key Points
Economic Times