Over 3 Lakh New Homes Approved in Chhattisgarh Under PMAY-G
MREAT Cancels Arbitration Order in Real Estate Case
The Maharashtra Real Estate Appellate Tribunal (MREAT) has set aside a previous order by the Maharashtra Real Estate Regulatory Authority (MahaRERA) that directed 36 allottees of a Borivali housing project to pursue arbitration due to clauses in their sale agreements.
The dispute centers around the Winter Green project, part of the Rivali Park development in Borivali, where allottees had entered into sale agreements between 2012 and 2016. MahaRERA had initially ruled that, since these agreements predated the enactment of the Real Estate (Regulation and Development) Act, 2016 (RERA), the arbitration clauses within them necessitated that disputes be resolved through arbitration. However, MREAT’s recent judgment underscores that the provisions of RERA are retroactive and cannot be circumvented by pre-existing arbitration clauses.
The tribunal emphasized that disputes between individual allottees and promoters under RERA are non-arbitrable, a stance supported by the Bombay High Court’s ruling in the case of Rashmi Realty Builders Pvt. Ltd. vs. Rahul Rajendrakumar Pagariya and others. The tribunal noted that MahaRERA had dismissed the complaints on jurisdictional grounds without delving into the merits of the cases. MREAT has now remanded the matter back to MahaRERA for fresh consideration, instructing it to evaluate the complaints based on their substantive merits rather than procedural technicalities. This decision has significant implications for the real estate sector, particularly concerning the enforceability of arbitration clauses in sale agreements. Legal experts assert that RERA, being a special statute aimed at protecting homebuyers, holds precedence over general laws like the Arbitration and Conciliation Act, 1996.
The tribunal’s ruling aligns with the broader judicial perspective that RERA’s dispute resolution mechanisms are designed to provide speedy and effective redressal for homebuyers, and that allowing arbitration clauses to override RERA would undermine the Act’s objectives. In light of this judgment, developers and promoters are advised to reassess the dispute resolution clauses in their sale agreements to ensure compliance with RERA provisions. Homebuyers, on the other hand, can take solace in the reaffirmation of their rights and the assurance that their grievances will be addressed within the framework of RERA, without being compelled to enter into potentially protracted arbitration proceedings.
This development marks a pivotal moment in the ongoing evolution of real estate regulation in India, highlighting the judiciary’s commitment to upholding the rights of consumers and ensuring that statutory protections are not diluted by contractual stipulations.
MREAT Cancels Arbitration Order in Real Estate Case
India Retaliates Against US Steel Aluminium Tariffs
India has formally notified the World Trade Organization (WTO) of its intent to impose retaliatory tariffs on 29 U.S. products, including agricultural and industrial goods, in response to the United States’ safeguard tariffs on steel and aluminium imports.
This move aims to counteract the adverse effects of U.S. measures on Indian exports, which New Delhi estimates impact $7.6 billion worth of goods, resulting in approximately $1.91 billion in duties. The U.S. initially imposed tariffs of 25% on steel and 10% on aluminium imports in March 2018, citing national security concerns under Section 232 of the Trade Expansion Act of 1962. These measures were revised in February 2025, with the updated tariffs taking effect from March 12, 2025.
India contends that these actions violate WTO rules and has sought consultations under the WTO’s Agreement on Safeguards. However, the U.S. maintains that the tariffs are essential for national security and should not be considered safeguard measures. India’s proposed retaliatory tariffs target a range of U.S. products, including apples, almonds, pears, anti-freezing preparations, boric acid, and certain iron and steel products. This strategy is designed to restore trade balance and protect India’s economic interests within the WTO framework. The escalating trade tensions come amid ongoing negotiations between India and the U.S. for a Bilateral Trade Agreement (BTA), with both nations aiming to double bilateral trade to $500 billion by 2030.
India’s move to impose retaliatory tariffs could influence the dynamics of these negotiations, potentially prompting both sides to seek a resolution that addresses the concerns of their respective industries. The situation underscores the complexities of international trade relations and the challenges countries face in balancing domestic economic interests with global trade commitments. As India moves forward with its proposed tariffs, the international community will be closely monitoring the developments and their implications for global trade dynamics.
India Retaliates Against US Steel Aluminium Tariffs
Odishas Lakhanpur to get 10 MW solar plant by APM Projects
APM Projects has secured a contract from the Central Mine Planning and Design Institute (CMPDI) to develop a 10 MW grid-connected solar power plant in Lakhanpur, Odisha.
This project, valued at approximately ₹487.33 million (~$5.7 million), underscores the nation’s commitment to sustainable energy solutions. The solar installation will span 15 hectares in Kirarama village, Jharsuguda district, and is designed to bolster the energy infrastructure of the Mahanadi Coalfields region. APM Projects’ responsibilities encompass the comprehensive engineering, procurement, and construction (EPC) of the plant, along with its operation and maintenance over a decade.
Technical specifications mandate the use of high-efficiency modules of at least 550 Wp and string inverters with a minimum capacity of 250 kW. The generated power will be transmitted via a 33 kV double circuit overhead line to the nearby 132/33 kV Jorabaga substation, ensuring efficient integration into the regional grid. This initiative is part of Coal India’s broader strategy to diversify its energy portfolio and reduce carbon emissions. By transitioning from traditional coal-based energy to renewable sources, the company aims to align with global sustainability goals and India’s commitment to achieving net-zero emissions.
The Lakhanpur project not only represents a shift towards cleaner energy but also sets a precedent for future collaborations between public sector undertakings and private entities in the renewable energy sector. Such partnerships are pivotal in accelerating India’s transition to a sustainable and eco-friendly energy landscape.
Odishas Lakhanpur to get 10 MW solar plant by APM Projects
Birla Cement to Expand Capacity with ₹4335 Crore
Birla Corporation has announced a ₹4,335 crore investment to scale up its cement production footprint. The move comes amid rising demand for green construction materials and resilient infrastructure in India’s rapidly urbanising regions.
Cleared by the company’s board on May 9, the investment will see the establishment of three new cement grinding units and the expansion of an existing integrated plant. Among the most notable projects is a greenfield grinding facility in Gaya, Bihar, with a capacity of 2.8 million tonnes per annum (MTPA). The plant is expected to be developed in phases and is scheduled for completion by the final quarter of FY29.The investment signals Birla Corporation’s growing emphasis on aligning industrial scale with environmental responsibility. As the construction sector shifts towards sustainable practices, cement manufacturers are adapting by reducing energy consumption, lowering carbon emissions, and deploying advanced, eco-efficient production technologies.
The upcoming unit in Bihar is a strategic addition. It strengthens the company’s presence in eastern India, where demand for building materials is being fuelled by state-led infrastructure initiatives and a renewed focus on rural-urban connectivity. At the same time, the expansion underlines a broader trend within the Indian cement sector: a pivot towards decentralised and region-specific growth, where cement units are closer to demand centres, thereby reducing transportation emissions and costs.With urbanisation accelerating and India targeting net-zero emissions by 2070, the role of green cement in future city-building cannot be overstated. Cement production accounts for around 8 per cent of global CO₂ emissions, making this industry a critical focus area for decarbonisation.
By investing in more energy-efficient grinding units and expanding its low-clinker production capacity, Birla Corporation is responding not just to market demand but also to the climate imperative.The expansion also demonstrates how corporate capital expenditure, when strategically directed, can align with national priorities such as affordable housing, transport corridors, and renewable-energy-ready infrastructure. It is particularly timely as India positions itself as a manufacturing and infrastructure hub amid global supply chain realignments.
Birla Corporation’s growth blueprint mirrors a broader industrial shift towards innovation-led sustainability. It signals confidence in the long-term prospects of the construction sector while also addressing the structural challenges of urban development—such as climate resilience, affordability and equity in resource access.While the cement sector continues to face headwinds from energy volatility and regulatory transitions, such targeted investments suggest a maturing industry ready to build not just more, but better. And in India’s development story, where the twin goals of economic growth and environmental protection are increasingly intertwined, the cement that builds tomorrow’s cities must also support the foundations of a greener future.
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Birla Cement to Expand Capacity with ₹4335 Crore
Global Cement Market Eyes Big Green Growth
The global specialty cement market is charting a new trajectory of sustainable growth, with projections estimating a surge from ₹5.46 lakh crore (US$ 65.65 billion) in 2025 to over ₹8.89 lakh crore (US$ 106.81 billion) by 2032.
This represents a compound annual growth rate (CAGR) of 7.2 per cent—driven largely by increased demand for environmentally resilient infrastructure and rapid adoption of low-carbon construction solutions.The cement sector, historically one of the most carbon-intensive industries, is now at the heart of an evolving green revolution. A surge in climate-conscious building codes, expanding smart city missions, and a shift towards resilient, long-lasting infrastructure are accelerating demand for specialised cement variants. These include oil well cement, refractory cement, expansive cement, and coloured cement—each engineered for performance in complex or high-impact construction environments.
Emerging economies across Asia Pacific, Latin America and Africa are spearheading this transformation, accounting for the largest share of forecasted demand. Infrastructure investments in urban water pipelines, energy-efficient rotary kilns, and high-strength industrial applications are also fuelling the sector’s momentum. In India particularly, the push towards sustainable urbanisation through programmes like AMRUT, PMAY and the Smart Cities Mission is aligning closely with this global trend.As developers and public planners face rising pressure to cut emissions, rapid hardening and low-heat cements are gaining traction as viable alternatives to conventional cement.
These products not only shorten project timelines but also reduce energy consumption, thereby contributing to India’s broader climate action commitments and global net-zero goals.Several industry giants are positioning themselves to capitalise on this shift. Market leaders including LafargeHolcim, HeidelbergCement AG, CEMEX and others are ramping up innovation pipelines, adopting circular practices and investing in green R&D to offer advanced solutions that meet evolving regulatory and performance standards.The industry’s evolution also hinges on tighter emissions regulations and growing public scrutiny of resource use in urban development. As cities strive to balance growth with liveability, the role of sustainable building materials—cement being a critical one—will become ever more prominent.
Yet the path ahead is not without its hurdles. Supply chain bottlenecks, cost volatility in raw materials, and regulatory ambiguity in emerging regions could pose challenges. However, analysts remain optimistic that strong global demand, a deepening focus on resilience, and rising investor interest in ESG-compliant materials will steer the sector forward.The specialty cement market’s projected expansion is more than a business opportunity—it signals a fundamental shift in how we build our cities. With the construction sector accounting for nearly 40 per cent of global carbon emissions, this pivot toward greener cement offers a necessary step in building climate-resilient, inclusive and equitable urban spaces.
As the industry braces for this decade-long transformation, stakeholders across public and private sectors must collaborate to ensure that economic gains are matched by ecological responsibility. Cement may be a traditional material, but its future now lies in its ability to build sustainably.
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Global Cement Market Eyes Big Green Growth
Mumbai Roads Under Scrutiny for Cost Irregularities
In a troubling development that casts doubt on civic transparency, allegations of inflated billing amounting to ₹164 crore have emerged in connection with 22 cement concrete (CC) road projects in South Mumbai.
The charges, reportedly involving contractors and civic officials, have triggered calls for an anti-corruption investigation and a comprehensive audit of procurement and billing processes related to these key infrastructure projects.According to official correspondence submitted to the Maharashtra government, irregularities were discovered in road works executed in Mumbai’s A Ward, a prime area encompassing parts of the city’s historic core. While project estimates totalled ₹164 crore, evidence reportedly shows that contractors billed for quantities far exceeding the actual materials used. In some instances, materials like steel, gravel, and cement were billed at double the volume procured—exacerbating concerns around deep-rooted malpractice and systemic misuse of public resources.
The road infrastructure in Mumbai has long been a subject of civic debate, particularly in the context of its high cost and questionable longevity. These new revelations deepen public scepticism, especially at a time when sustainable and equitable infrastructure is essential to support inclusive urban growth. The allegations underline a disturbing pattern—where taxpayer money, meant for public benefit, may be diverted through flawed tendering and billing mechanisms.
Officials have confirmed that the implicated contractors have recently slowed down work, possibly due to halted payments pending inquiry. This disruption has worsened the woes of daily commuters and raised concerns about project delays in one of the city’s most densely populated areas.
With citizens bearing the brunt of poor execution, the demand for a white paper on cement road projects is gaining traction as a tool to foster civic transparency and restore trust.Urban planners and policy advocates argue that beyond financial audits, the incident calls for a paradigm shift in how infrastructure projects are awarded, monitored, and delivered. The emphasis, they say, must shift from short-term contracts to long-term sustainability, lifecycle cost efficiency, and transparent stakeholder engagement. The crisis, while disheartening, could serve as a pivotal moment for Mumbai to reimagine its civic governance and prioritise eco-sensitive, zero-waste urban design.Meanwhile, the civic body has assured that it will examine the allegations and release an official statement. Whether this results in substantial reforms remains to be seen, but the episode has undeniably put the spotlight back on the urgent need for systemic integrity in urban infrastructure development.
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Mumbai Roads Under Scrutiny for Cost Irregularities
Bengaluru project drives real estate stock surge
Bengaluru’s real estate market received a major boost on Monday as shares of a prominent developer soared 10 per cent in intra-day trade, driven by news of a fresh joint venture to develop a large residential project in the city’s fast-growing northern corridor.
The developer announced a strategic partnership with KVN Property Holdings LLP to transform a 24.59-acre parcel of land in North Bengaluru, with a projected gross development value (GDV) exceeding ₹3,300 crore.The upcoming development, estimated to yield approximately 3.48 million sq. ft. of saleable space, is expected to be launched within the next six months. With residential demand surging in the region due to its proximity to Kempegowda International Airport and access to key infrastructure projects, the announcement marks a strategic bet on Bengaluru’s expanding urban frontier.This move comes at a time when North Bengaluru is emerging as a preferred destination for sustainable and integrated housing projects, particularly those with access to green infrastructure, employment hubs, and transport corridors.
Real estate analysts note that the project aligns with the broader urban development goals of building eco-conscious, well-connected, and inclusive communities in India’s tech capital.The land parcel earmarked for development is expected to support a mix of housing typologies, catering to a wide demographic spectrum while promoting walkability, accessibility, and environmental stewardship. This approach reflects an evolving market preference for housing that supports low-carbon lifestyles and community-oriented urban living.Alongside the project announcement, the company also initiated a leadership transition, appointing a new chief executive officer for its South India operations, pending regulatory approvals.
The previous CEO has stepped down from the role, marking a shift in operational leadership as the firm doubles down on its regional focus.The stock, which rose to a high of ₹241.55 during the day, remains significantly below its 52-week peak of ₹565 reached in July last year. Despite the recent rally, the scrip has been under pressure for much of the past year, declining 40 per cent year-on-year. However, signs of recovery are visible, with a modest 2 per cent uptick in May following a difficult start to the calendar year.Real estate observers suggest that the North Bengaluru project could serve as a bellwether for the city’s residential market, particularly as infrastructure investments and job creation continue to reshape urban settlement patterns.
With land availability tightening in central zones, large-scale developments in the periphery offer a promising solution for cities seeking to balance growth with sustainability.For Bengaluru, a city long known for its innovation economy, the focus is gradually shifting to how that growth is accommodated. Developments such as this new joint venture—if delivered responsibly—could reinforce the city’s journey toward becoming a more liveable, inclusive, and environmentally conscious metropolis.
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Bengaluru project drives real estate stock surge
Joint Home Purchase Gets Tax Tribunal Nod
The Income Tax Appellate Tribunal (ITAT) in Mumbai has upheld the right of a couple to jointly claim tax exemption under Section 54 of the Income Tax Act, allowing a deduction of Rs 1.3 crore.
The case involved the sale of two separate residential properties and the purchase of a joint home—an arrangement the tax authorities initially flagged as a breach of the rules.The tribunal’s judgement, delivered on 17 April 2025, provided a much-needed interpretation of the law that favours honest taxpayers making substantial reinvestments into residential real estate. The dispute arose when a woman declared a long-term capital gain (LTCG) of over Rs 1.3 crore after selling a property in 2011 for Rs 1.9 crore, which she had originally acquired in 2004 for Rs 36.5 lakh. She reinvested her gains into a new residential property jointly purchased with her spouse in 2010 for Rs 2.31 crore. She contributed Rs 1.76 crore, while her husband added Rs 55 lakh—funds he sourced by selling a different property.
Both individuals separately claimed tax exemption under Section 54. However, the income tax department rejected the claim, citing that the exemption had been wrongly availed against the sale of two distinct properties used to fund a single purchase. The issue eventually made its way to the ITAT after years of appeals and scrutiny by various authorities.The Tribunal ruled that the benefit of Section 54 could not be denied simply because the property was purchased in joint ownership. The key criterion, it noted, was the proportion of investment made by each individual. As long as each party claimed exemption only to the extent of their respective investments, the exemption was valid—even if the source of reinvestment was from multiple property sales.
Crucially, the ruling aligns with the pre-2015 interpretation of Section 54, which allowed for such flexibility before the law was amended to tighten exemptions. The Tribunal pointed out that neither the Act nor any judicial precedent bars a co-owner from claiming exemption if their capital gains are reinvested properly and proportionately in a new property.Legal experts are hailing the ruling as a victory for clarity, fairness, and the spirit of the tax law, which aims to incentivise reinvestment in housing rather than penalise co-ownership or minor procedural deviations. Analysts believe this judgement will be particularly useful in metropolitan markets like Mumbai, where high real estate prices often compel families to pool resources under joint ownership.
With rising urban density and shifting household structures, such interpretations can help facilitate equitable housing investments. Taxpayer confidence in such legal clarifications also promotes more transparent property transactions—vital for building sustainable and inclusive urban economies.The ITAT’s directive also asked the assessing officer to confirm that no double exemption was claimed, reinforcing a fair and balanced approach. But the ruling makes clear that co-owners are entitled to tax relief, as long as their claims are rooted in verifiable, individual financial contributions.The Mumbai judgement will likely serve as a precedent for similar disputes in other Indian cities, signalling a progressive shift in how the law interprets ownership, equity, and accountability within the real estate taxation framework.
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Joint Home Purchase Gets Tax Tribunal Nod
UP RERA Warns Developers Against Incomplete Handover
