3 stories from 2 sources
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The NCLT has admitted an insolvency petition against Raheja Developers tied to the Revanta project in Gurugram after 176 homebuyers alleged prolonged possession delays. The buyers said they paid more than Rs 137 crore, and the tribunal found a prima facie default based on unmet commitments and non-compliance with regulatory directions.
11:25 PMEconomic Times RealtyGreen SM, Vingroup-backed electric ride-hailing operator, has partnered with managed workspace provider Urban Vault to set up offices across India as it starts local operations. The partnership has begun with a 16,000 sq. ft. office opening in Gurugram.
5:07 AMThe Property TimesThe Bombay High Court held that homebuyers have an unconditional right to monthly interest for every month of delay in handing over possession under RERA. The court said the interest runs until possession is actually delivered, reflecting RERA’s buyer-protection purpose.
12:14 AMEconomic Times RealtySummary
The NCLT has admitted an insolvency petition against Raheja Developers tied to the Revanta project in Gurugram after 176 homebuyers alleged prolonged possession delays. The buyers said they paid more than Rs 137 crore, and the tribunal found a prima facie default based on unmet commitments and non-compliance with regulatory directions.
Why it matters
NCLT admission turns a stalled handover into an IBC test case that can reset control of the project and the recovery path for hundreds of buyers.
Summary
Green SM, Vingroup-backed electric ride-hailing operator, has partnered with managed workspace provider Urban Vault to set up offices across India as it starts local operations. The partnership has begun with a 16,000 sq. ft. office opening in Gurugram.
Why it matters
Large new-economy entrants are choosing flex-led office networks, reinforcing managed workspace as an institutional demand channel in top Indian commercial markets.
Summary
The Bombay High Court held that homebuyers have an unconditional right to monthly interest for every month of delay in handing over possession under RERA. The court said the interest runs until possession is actually delivered, reflecting RERA’s buyer-protection purpose.
Why it matters
It raises the cost of construction delays and strengthens buyer bargaining power across delayed housing projects.
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