Thane police books 13 persons from a real estate firm for involvement in ₹200 crore MHADA redevelopment scam; no arrests made
MhadaRedevelopment ScamThane PoliceReal Estate Firm200 Crore ScamReal Estate MumbaiAug 27, 2024
The amount involved in the scam is allegedly Rs 200 crore.
The FIR was filed by Arun Tayade, a resident of one of the societies.
13 persons have been booked in the case.
No arrests have been made yet.
MHADA is responsible for providing permission for the redevelopment of buildings on its land.
Lavasa, a hillside resort four hours from Mumbai, was meant to be India's answer to Portofino, but it has turned into a crumbling ghost town with $1 billion in liabilities and 5,000 lingering residents.
Average rental values have surpassed capital values in Bengaluru, Pune, Kolkata, and Chennai, while NCR, MMR, and Hyderabad saw the opposite trend.
Macrotech Developers, a leading real estate company, has reported a 21% increase in sales bookings to a record Rs 4,290 crore during the July-September period, driven by strong housing demand.
In a significant move, BNP Paribas has leased a prime office space in Mumbai's Business District, BKC, at a record rental rate of Rs 811 per square foot. This deal highlights the resilience of the Mumbai real estate market despite economic challenges.
Explore the luxurious lifestyle of Bollywood actors Huma Qureshi and her brother Saqib Qureshi, who have recently rented a premium villa in Juhu, one of Mumbai's most sought-after localities. Discover what makes Juhu a favorite among the stars.
India's real estate sector is facing a significant setback as the Maharashtra government recently raised the ready reckoner rate, leading to a sudden crash in real estate stocks. This move has caused widespread concern among developers, investors, and homebuyers.