Category: Latest Stories

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Latest StoriesRegulatory

NCLT Accepts Insolvency Plea for Supreme Housing & Hospitality

MUMBAI: The National Company Law Tribunal (NCLT) has accepted Canara Bank’s insolvency petition against Supreme Housing and Hospitality Private Limited, a Mumbai-based real estate firm, over outstanding dues exceeding ₹567 crore. This move follows several unsuccessful attempts at a one-time settlement and extended litigation. The Mumbai bench of the tribunal commenced the corporate insolvency resolution process (CIRP) against Supreme Housing on May 13 under Section 7 of the Insolvency and Bankruptcy Code (IBC). Canara Bank indicated a default amounting to ₹567.43 crore as of October 31, 2025, which includes a principal amount of ₹175.83 crore and interest dues of ₹391.60…

Latest StoriesRegulatory

Hyderabad Builder in Trouble for Mortgaging Villa Without Consent

HYDERABAD: A villa owner in a gated community near Kompally has filed a police report claiming her property was unlawfully mortgaged by the builder in October 2025, falsely presenting it as unsold. The Medchal police have opened a case against the real estate developer and the private firm that allegedly provided a loan based on this mortgage. The complainant, Anitha Vittal, who is a senior corporate executive, alleged that numerous other properties developed by the builder, including a venture for senior citizens, were also mortgaged without consent in the same deed to secure loans in 2025. Anitha discovered the fraud…

Latest StoriesResidential

Ghaziabad: Charred Green Avenue Flat Owners Demand FIR Against RWA

File Photo GHAZIABAD: Almost two weeks after the fire at Gaur Green Avenue on April 29, residents of the affected flats are considering legal action against the residents’ welfare association (RWA). They allege that unauthorized constructions obstructed emergency access and that fire safety systems were not adequately maintained. Rajnish Kumar, an architect whose 11th-floor flat was destroyed, has contacted the chief minister’s office, district magistrate, and police commissioner, requesting an FIR against the RWA officials. He claims that illegal construction around the swimming pool area impeded fire tender access, letting the fire spread to upper floors. “The fire started in…

Latest StoriesRera

Experts and Homebuyers Embrace RERA Act Jail Term Change

BHUBANESWAR: Real estate professionals and homebuyers in Odisha have expressed approval of the Central government’s decision to replace imprisonment for non-compliance with tribunal orders under the Real Estate (Regulation and Development) Act, 2016 (RERA) with monetary fines. Legal and real estate specialists have described this change as part of a larger initiative to decriminalize business regulations and alleviate the pressures on courts. “This amendment aligns RERA with the government’s broader goal of easing the legal landscape for minor offenses, facilitating a better living and business environment,” stated real estate expert Bimalendu Pradhan. On May 7, the Ministry of Housing and…

IndustryLatest Stories

DLF Plans ₹20,000 Crore Housing Sale by FY27: MD

NEW DELHI: DLF Ltd, India’s largest real estate firm, aims for sales bookings of ₹20,000 crore in the current fiscal year, maintaining a target similar to that of 2025-26, driven by a robust launch pipeline for residential projects in Gurugram, Mumbai, and Goa, as stated by Managing Director Ashok Kumar Tyagi on Thursday. In a webcast for market analysts, Tyagi emphasized the strong performance of both the company’s housing and commercial segments and expressed confidence in their future growth. Regarding the sales bookings target for the 2026-27 fiscal, he reaffirmed an annual goal of ₹20,000 crore. Of this, approximately ₹14,000-15,000…

CommercialLatest Stories

Uber secures 900,000 sq ft Hyderabad office in 10-year lease

Ride-hailing company Uber has secured over 9 lakh sq ft of office space across 10 floors in Hyderabad’s commercial corridor, committing approximately Rs 839 crore in a long-term lease that spans 10 years. This transaction is among the largest office leasing agreements in India, highlighting the ongoing growth of global capability centers (GCCs) and technology firms in Hyderabad’s real estate market. Uber India Systems has leased around 901,115 sq ft of chargeable office area occupying floors 11 to 20 in Tower 1 of Meenakshi Eco Park, a commercial project by Meenakshi Infrastructures. The lease officially began on January 9, 2026.…

IndustryLatest Stories

HCC Q4 FY26 Net Profit Falls 34.56% to ₹59 Crore

NEW DELHI: Hindustan Construction Company (HCC) announced a 34.56% drop in consolidated net profit, reporting Rs 59 crore for the quarter ending March 2026. In the same period last year, the profit was Rs 90.08 crore, as detailed in a BSE filing. The company’s total income for the quarter was Rs 1,017.51 crore, compared to Rs 1,392.20 crore a year prior. Total expenses decreased to Rs 931.28 crore from Rs 1,077.91 crore in the previous year. For the full fiscal year 2025-26, HCC recorded a consolidated net profit of Rs 165.52 crore, up from Rs 112.63 crore in FY25. The…

Latest StoriesRera

Himachal Chief Secretary Demands RERA Report in 15 Days

SHIMLA: Himachal Pradesh Chief Secretary Sanjay Gupta has instructed the State Vigilance and Anti-Corruption Bureau to retrieve all pertinent documents related to Joint Development Agreement real estate projects overseen by the state’s Real Estate Regulatory Authority (RERA). Both agencies have been given a deadline of 15 days to provide the required details. This directive aims to investigate potential violations of Section 118 of the Himachal Pradesh Tenancy and Land Reforms Act, 1972. The Chief Secretary has communicated this in a letter to the Director General of Vigilance. Reports suggest possible irregularities in land agreements involving local farmers and non-agriculturists. The…

CommercialLatest Stories

Bagmane Prime Office REIT Debuts at 3.5% Premium

NEW DELHI: Bagmane Prime Office REIT, backed by Blackstone, made a strong debut on the stock market on Thursday, listing with a premium of 3.5% over its issue price. On the NSE, the unit debuted at ₹103.50, marking a 3.5% increase from the issue price of ₹100, before settling at ₹103.10. On the BSE, the unit opened at ₹103.40, up by 3.4% from the issue price. The company’s market capitalization reached ₹35,071 crore on the NSE. Bagmane Prime Office REIT’s ₹3,405-crore initial public offering (IPO) was oversubscribed 23.71 times by the end of bidding on May 7, reflecting robust investor…

InfrastructureLatest Stories

Trichy: New Recycling Plant for Construction Waste in Panjapur

Representative image created by AI TRICHY: The Trichy corporation has approved 4 acres of land in Panjapur for a construction and demolition (C&D) waste facility capable of recycling 50 tonnes of debris daily. A special purpose vehicle (SPV) has been established in collaboration with a private environmental resource management company to raise Rs 8 crore for the project, which follows a public-private partnership (PPP) model. The recycling unit will collect demolition waste from residents and builders, converting it into valuable construction materials like paver blocks and hollow bricks. Initially proposed for Ariyamangalam, the plant’s location has moved to the STP…