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Housing sales in MMR likely to cross Rs 1.35 trillion this year: Report

Housing sales in Mumbai Metropolitan Region (MMR) primary residential market are expected to cross Rs 1.35 lakh crore this calendar year, according to JLL India. Real estate consultant JLL India on Thursday released its report 'Mumbai Residential Market-Through the Lens of Time' at the National Real Estate Development Council (NAREDCO) event held here. The consultant noted that Mumbai's resilient residential market continues its onward strides with significant growth in sales and new launches. The MMR continues to attract substantial real estate investments, exemplified by record-high sales values and strategic infrastructure developments. "As infrastructure projects continue to enhance connectivity and create new residential hubs, we foresee Mumbai's market not only maintaining its momentum but also setting new benchmarks in the coming years," said Prashant Sharma, President, NAREDCO-Maharashtra. Mumbai includes Mumbai city, Mumbai suburbs, Thane city and Navi Mumbai. Residential

The Economic Times

NCLT rejects housing society's plea to exclude land from HDIL's insolvency process

HDIL faces insolvency with liabilities exceeding Rs 8,138 crores, including debts to secured and unsecured financial creditors, and homeowners. The real estate sector contributes significantly to companies under CIRP, with about 15% witnessing revival post-resolution.