M3M has emerged as the highest bidder for a 12.5-acre mixed-use plot in Noida's Sector 108, offering about ₹1,850 crore against a reserve price of ₹835 crore. The bidding attracted major developers, including DLF.
8:12 AMEconomic Times5 stories from 2 sources
Capital chases Indian real estate despite legal scrutiny
Day’s Recap
Supporting Articles
The Delhi High Court declined to quash the criminal case against Supertech executives, holding that conspiracy can be inferred from conduct and surrounding circumstances. It said whether the evidence proves a meeting of minds must be decided after evaluating the evidence, not at the high court stage.
11:12 PMEconomic Times Realty
Nexus Select Trust plans to acquire Galaxy Infra Creations for ₹1,600 crore, gaining a shopping mall and a 164-key Hyatt Regency hotel in Guwahati. Both assets are under construction, and the transaction remains subject to approvals before Nexus takes over operations.
8:11 AMEconomic Times8:12 AMEconomic Times
M3M emerges as highest bidder for prime Noida land parcels at ₹1,850 crore
Summary
M3M has emerged as the highest bidder for a 12.5-acre mixed-use plot in Noida's Sector 108, offering about ₹1,850 crore against a reserve price of ₹835 crore. The bidding attracted major developers, including DLF.
The bid, at more than twice the reserve price, puts a high valuation on prime
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The aggressive pricing sets a new benchmark for premium Noida land and could lift future acquisition and development costs.
11:12 PMEconomic Times Realty
Delhi HC refuses to quash criminal case against Supertech executives
Summary
The Delhi High Court declined to quash the criminal case against Supertech executives, holding that conspiracy can be inferred from conduct and surrounding circumstances. It said whether the evidence proves a meeting of minds must be decided after evaluating the evidence, not at the high court stage.
The executives now face the full criminal process because the court found no basis to
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The decision lowers the threshold for criminal conspiracy cases to proceed against real-estate executives when direct evidence of an agreement is unavailable.
8:11 AMEconomic Times
Nexus Select Trust to acquire Galaxy Infra Creations for Rs 1,600 crore
Summary
Nexus Select Trust plans to acquire Galaxy Infra Creations for ₹1,600 crore, gaining a shopping mall and a 164-key Hyatt Regency hotel in Guwahati. Both assets are under construction, and the transaction remains subject to approvals before Nexus takes over operations.
The acquisition expands Nexus's retail platform into northeast India's largest consumption hub while adding hotel
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The deal extends institutional ownership of Indian retail and hospitality assets beyond the major metropolitan markets.
Other Developments
A curated list of other prominent stories from this day.
Civitech Group will invest ₹500 crore in a mixed-use development in Sector 10, Greater Noida West. The project will include retail space, hospitality facilities, and studio apartments, targeting end-user and investor demand.
8:09 AMEconomic Times
Mumbai's Income-Tax Appellate Tribunal ruled that two flats can qualify as a single residential house when they function as one home. The decision allows taxpayers to claim relief under Section 54F of the Income-Tax Act in such cases.
12:02 AMEconomic Times Realty8:09 AMEconomic Times
Civitech Group to invest Rs 500 cr in Greater Noida mixed-use project
Summary
Civitech Group will invest ₹500 crore in a mixed-use development in Sector 10, Greater Noida West. The project will include retail space, hospitality facilities, and studio apartments, targeting end-user and investor demand.
The project broadens Greater Noida West's development model beyond housing by combining residential, retail, and
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Mixed-use development is becoming a central strategy for monetising Greater Noida's expanding residential catchment.
12:02 AMEconomic Times Realty
Mumbai ITAT allows tax relief on two flats bought as one home
Summary
Mumbai's Income-Tax Appellate Tribunal ruled that two flats can qualify as a single residential house when they function as one home. The decision allows taxpayers to claim relief under Section 54F of the Income-Tax Act in such cases.
The ruling shifts the test from the number of sale deeds or units to how
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The decision could expand Section 54F relief for buyers who create one residence from multiple flats.
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