Mumbai: The police are investigating multiple angles in the murder of former minister Baba Siddique, including disputes related to the Slum Rehabilitation Authority (SRA) projects. Siddique had significant interests in real estate through his close associ
Baba SiddiqueSraReal EstateSlum Rehabilitation AuthorityMumbaiReal Estate MumbaiOct 13, 2024
The Slum Rehabilitation Authority (SRA) is a government body in Mumbai responsible for managing and implementing slum redevelopment projects. It aims to provide better living conditions for slum dwellers while also offering developers a share of the land for commercial use.
The ED investigated Baba Siddique in 2017 for alleged money laundering. He was also involved in a completed SRA project for the Jamaat-e-Jamhooria slums in Bandra Reclamation, which raised suspicions of manipulation and corruption.
The ED found that fictitious illegal slum dwellers were introduced using forged ration cards to manipulate the number of eligible slum dwellers. This allowed the developer to secure more floor space index (FSI) in the project.
The ED case collapsed after the Bandra police report stated that the ration cards were genuine and that the concerned state government department was working on Sundays during that period to issue the ration cards.
In February 2022, Baba Siddique left the Congress and joined the Ajit Pawar-led Nationalist Congress Party (NCP), which is an alliance partner of the Shiv Sena-BJP coalition.
Shriram Properties is set to launch a joint development project on a six-acre land in Pune during the second half of the fiscal year 2025. The project is estimated to have an aggregate revenue potential of Rs 700-750 crore.
The sale of ultra-luxury homes in India has remained unabated in 2024, with 25 units sold across top cities for a collective sales value of approx. INR 2,443 Cr.
Birla Estates Pvt Ltd, the real estate arm of Aditya Birla Group, has seen a significant boost in property sales, with FY25 bookings doubling to Rs 8000 crore. This growth is driven by robust demand in major cities like Mumbai, Pune, NCR, and Bengaluru.
Supreme and Astral have achieved a 20% profit CAGR over several years, driven by strong demand, government initiatives like the Jal Jeevan Mission, and a market shift towards organized players in the real estate sector.
Bengaluru-based Prestige Estates, a prominent real estate developer, is making waves with its Rs 2700 crore IPO. The company, known for its extensive portfolio of housing, office, retail, and hotel projects, is set to redefine the real estate landscape in India.
Golden Growth Fund, a prominent Category 2 Alternate Investment Fund, is set to launch an ultra-luxurious housing project in the heart of South Delhi's upscale Anand Niketan.