Category: Latest Stories

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InfrastructureLatest Stories

Noida: GNIDA Clears 40,000 Sq M of Encroached Land in Bhanauta

Representative image NOIDA: The Greater Noida Industrial Development Authority (GNIDA) conducted an anti-encroachment operation on Tuesday, recovering 40,000 square meters of land in Bhanauta village, valued at approximately Rs 80 crore. The operation was executed by teams from the land records and project departments on directives from Authority chief NG Ravi Kumar. The encroachers had illegally constructed plots on land identified as Khasra numbers 132, 133, and 135 in Bhanauta village and nearby areas, which had already been acquired and notified by the Authority. Additional CEO Sumit Yadav stated that stringent actions will be taken against the encroachers. “I urge…

Latest StoriesResidential

Lucknow to Start E-Auction for 149 Residential Plots

Representative Image LUCKNOW: The Lucknow Development Authority will initiate an e-auction for 149 residential plots in Gomti Nagar Extension and Basant Kunj Yojana starting Thursday, as part of a larger sale of 475 properties valued at nearly Rs 3,000 crore throughout the city. According to officials, the online auction portal will remain open until May 28, allowing interested buyers to participate by depositing 10% of the reserved price as earnest money. The residential plots range from 25 square metres to 300 square metres. Among the residential plots, LDA has made available 12 plots on land recently cleared of encroachments in…

InfrastructureLatest Stories

Jaipur Experts Urge Relaxed Setback Norms for TOD Growth

File Photo JAIPUR: Builders and urban planning professionals are urging the Jaipur Development Authority (JDA) to reconsider setback regulations for plots within the city’s five proposed Transit-Oriented Development (TOD) corridors. They argue that strict regulations may limit available developable land, raise project costs, and weaken the effectiveness of the policy. A proposal submitted to JDA Commissioner Siddharth Mahajan on Wednesday stated that should the Rajasthan government’s TOD framework impose uniform setback requirements, it may deter real estate investment in these corridors. “The state’s policy mandates that plots in these areas maintain side and rear setbacks as per existing building codes,…

IndustryLatest Stories

Karnataka Deputy CM Launches ‘Bhoo Guarantee’ for 23 Lakh Properties

BENGALURU: Karnataka Deputy Chief Minister D K Shivakumar unveiled the “Bhoo Guarantee” scheme on Wednesday, intending to provide digitized property records to approximately 23 lakh property owners in Bengaluru, alongside a one-time settlement opportunity to convert B-Khata properties into A-Khata. A-Khata signifies legitimate properties. Moreover, he announced concessions for B-Khata holders, landowners, and homeowners impacted by planning violations, as well as relaxations under the Bengaluru Development Authority (BDA) regulations. “This is a historic decision to provide Bhoo Guarantee (land guarantee) to 23 lakh people in Bengaluru city,” said Shivakumar, adding that “Nanna Khata, Nanna Hakku” (My Khata, My Right) signifies…

Latest StoriesRegulatory

Haryana: I-T Searches Tehsil Office, Finds ₹45,000 Crore Discrepancies

GURUGRAM: On Tuesday, the income tax department conducted surprise verification and survey operations at sub-registrar offices in Gurugram and Mohali. This action was prompted by reports of significant lapses in the reporting of high-value real estate transactions. The operations commenced early in the day at the tehsil office located in the mini secretariat, where officials have uncovered discrepancies in property transactions amounting to Rs 45,000 crore at the Gurugram tehsil. This initiative is part of a nationwide data-validation effort aimed at evaluating the accuracy and quality of information provided by designated reporting entities. According to the law, sub-registrar offices are…

IndustryLatest Stories

GDA Board to Discuss Fire Safety, Land Acquisition on April 14

GHAZIABAD: The GDA board is set to convene on Thursday to discuss 17 proposals, which include updating development, permit, and inspection fees for the fiscal year 2026-27, following an increase by the state government. The board will also assess a recently approved allocation of Rs 100 crore aimed at enhancing fire safety measures in high-rise buildings. Additional topics on the agenda involve land acquisition for the Aerocity project and the second phase of the Harnandipuram township development. “One of the key proposals on the agenda involves budgetary allocations to improve fire safety systems. Rs 100 crore has already been allocated,…

Latest StoriesResidential

65,000 Chandigarh Housing Board Homes Up for Review

CHANDIGARH: The UT administration has established a committee to assess the “need-based changes” made to Chandigarh Housing Board (CHB) homes, impacting over 65,000 units throughout the city. Under the leadership of the CHB CEO, and following directives from the board chairman, the committee is expected to present its findings within two weeks. Officials noted that numerous allottees have undertaken additional constructions, referring to them as “need-based changes,” while the administration views many of these as building violations. Despite the recent introduction of the 2023 need-based changes policy, residents maintain that their concerns remain unaddressed. Tensions escalated after the CHB demolished…

Housing FinanceLatest Stories

Shivalik Small Bank Nears Deal with ManiBhavnam Home Finance

KOLKATA: Shivalik Small Finance Bank, supported by Japan’s largest lender, Sumitomo Mitsui Banking Corporation (SMBC), is nearing completion of its acquisition of Delhi-based ManiBhavnam Home Finance for ₹109 crore. The Reserve Bank of India (RBI) has approved this acquisition, with Shivalik currently seeking clearance from the Registrar of Companies. The deal will involve both share swaps and a cash component, according to sources familiar with the situation. “The acquisition aims to enhance Shivalik’s footprint in the affordable housing sector, further financial inclusion efforts, broaden secured lending, and extend geographical reach in North India,” a bank spokesperson stated. Over the past…

IndustryLatest Stories

Delhi Plans to Lower Building Height for Better Fire Safety

NEW DELHI: The Delhi government is contemplating adjustments to the height limits of buildings concerning the fire NOC requirement to enhance safety regulations, following recent incidents that resulted in multiple fatalities in the city, officials reported. As per the guidelines of the Delhi Electricity Regulatory Commission (DERC), power distribution companies can grant electricity connections to residential buildings up to 17.5 meters high with stilt parking and up to 15 meters high without stilt parking, without requiring fire safety no objection certificates (NOC). Officials noted that over 95% of residential properties in the capital avoid implementing fire safety protocols due to…

CommercialLatest Stories

Knowledge Realty Trust’s NOI Soars 18% in FY26

NEW DELHI: Knowledge Realty Trust reported an 18% increase in its net operating income (NOI) to ₹4,048.4 crore, resulting in an NOI margin of 88%. The board of directors of Knowledge Realty Office Management Services, the managing entity of Knowledge Realty Trust, has approved a distribution of ₹7,165.99 million/₹1.616 per unit for the quarter ending March 31, 2026. This distribution includes ₹4,350.15 million/₹0.981 per unit as dividends, ₹917.92 million/₹0.207 per unit as interest (minus applicable taxes), ₹1,889.05 million/₹0.426 per unit for debt repayment, and ₹8.87 million/₹0.002 per unit. The net asset value (NAV) of the trust was declared at ₹123.61…