Category: Latest Stories

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Latest StoriesRegulatory

CBI Files 7th Chargesheet in Builder-Banker Scam vs. Sequel Buildcon

NEW DELHI: The CBI has filed its seventh chargesheet in the case against Sequel Buildcon Private Limited for alleged fraud against homebuyers, claiming that the company misused funds from PNB Housing Finance for the Noida project ‘The Belvedere,’ officials reported on Monday. The investigation is part of a larger inquiry into 50 cases assigned to the CBI by the Supreme Court, with allegations that the company failed to provide possession of residential units and did not refund deposits made by homebuyers. Approximately 23 individuals initiated the legal action that led to the Supreme Court transferring the case to the CBI.…

InfrastructureLatest Stories

UP: Over 880 Illegal Colonies Dump Sewage into Hindon, NGT Informed

NOIDA: The Uttar Pradesh government has informed the National Green Tribunal (NGT) that 888 unauthorized colonies across six districts are discharging approximately 40 million liters of sewage into the Hindon River daily. Additionally, 51 unregulated storm drains in the area are estimated to carry around 1,067 MLD of water, sludge, industrial waste, and sewage into the river and its tributaries. This information was included in an affidavit submitted by state chief secretary Shashi Prakash Goyal on April 28, complying with an NGT order issued on December 9 of the previous year. The next hearing is scheduled for August 17. The…

Latest StoriesResidential

Millenia WB Yield Fund Invests ₹41 Crore in Hyderabad Villas

WhiteBoard Advisory & Management (WB) and Casagrand have received SEBI approval to raise ₹500 crore for their jointly established Millenia WB Yield Fund, aimed at providing growth capital for residential projects. The fund has already committed ₹41 crore for a villa project in Hyderabad targeting ₹400 crore in revenue. Capital raised will focus primarily on developing projects in Chennai, Bangalore, Hyderabad, and select other locations. The fund offers yield-based returns to investors, leveraging WB’s investment expertise and Casagrand’s proven execution and sales track record. Founded in 2022 by Anchit Lakhotiya and Sanjay Ratra out of Mumbai, Whiteboard Advisors acted as…

CommercialLatest Stories

Micro Mitti unveils IT park on 2.3 acres in Indore

NEW DELHI: Micro Mitti has unveiled its new IT park project, Cybercity, spanning around 2.30 acres in Indore, Madhya Pradesh. With a built-up area of approximately 6.28 lakh sq ft, the development will include 77 office units and 13 retail spaces, offering flexible office layouts ranging from 2,500 sq ft to 10,000 sq ft. The project is set to primarily function as a leasing-focused commercial ecosystem. It boasts a total leasable area of around 4.48 lakh sq ft and plans to monetize nearly 20 percent of its inventory at an estimated rate of ₹9,100 per sq ft. The company is…

InfrastructureLatest Stories

Court backs Nagpur civic body’s eviction on Subhash Road land

NAGPUR: The District Judge-6 has affirmed the Nagpur Municipal Corporation’s (NMC) eviction action concerning a valuable 15,000 sq m land parcel located on Subhash Road near Agyaram Devi square, dismissing eight miscellaneous civil appeals against the civic body’s eviction notices. The appeals, including MCA No. 271/2025 and related cases, contested NMC’s eviction proceedings initiated under Section 81-B of the Maharashtra Municipal Corporations Act, 1949. The disputed land was originally leased to the Abhyankar Smarak Trust in 1937 for charitable purposes. In issuing the ruling, Judge MS Ganorkar noted that the lease had expired in November 1967 and was never renewed.…

IndustryLatest Stories

Dwarka Projects to Generate ₹29,000 Crore in License Fees for Delhi

NEW DELHI: The Delhi Development Authority (DDA) is poised to generate over ₹29,700 crore in the next 55 years by shifting focus from direct land sales to long-term land monetization. This strategy involves annual license fees from three key projects in Dwarka, aiming to enhance revenue while promoting urban infrastructure development. The three projects include a five-star hotel in Sector 23, Delhi’s inaugural Transit Oriented Development (TOD) project in Sector 22, and a 600-bed super-speciality hospital in Sector 9. This approach represents a significant shift in DDA’s operations, allowing it to unlock value from limited land resources without giving up…

Latest StoriesRera

UP-RERA Launches Online Complaints for Excess Transfer Fees

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has introduced an online system for registering complaints against promoters and developers who demand transfer fees exceeding the allowed limits during the allotment transfer process. Homebuyers and allottees can submit complaints using Form-M on the UP-RERA portal, a feature that became available following the implementation of the 10th amendment to the UP-RERA General Regulations, 2019. According to the revised Regulation 47(c), promoters are prohibited from creating new or amended agreements for sale or lease with the assignee or successor-in-interest. Transfers must be documented via an endorsement in the original agreement,…

IndustryLatest Stories

Fresh 39A plans aim to convert 25,000+ sq meters in Bardez, Pernem

PANAJI: The Town and Country Planning (TCP) department has announced new corrections to the Regional Plan under Section 39A of the TCP Act, proposing to convert over 25,000 sqm of land. These land parcels, located in Bardez, Pernem, Salcete, and Bicholim, are currently designated as natural cover, orchard land, and no-development-slope areas. The latest notification includes nine proposals approved by the TCP board on April 21, which are now open for public objections and suggestions for 30 days. The largest proposal comes from Mumbai’s KGL Realtors Pvt Ltd, seeking to convert 18,733 sqm of land in Salvador do Mundo, Bardez,…

Latest StoriesRegulatory

Gurugram Builder Arrested for Defrauding Client of ₹15 Crore

GURUGRAM: The Gurugram Police have apprehended a 50-year-old real estate firm owner, Mahesh Mugam, for allegedly defrauding individuals of crores by promising land agreements, officials reported on Sunday. Mugam resides in Sector 75, Noida. As per police reports, a complaint was filed on January 20 by an individual who claimed that Neon Infra Construction Solutions Company and its affiliates presented documents indicating the sale of approximately 11.33 acres of land located in Ghughera village, Palwal district, Haryana. The accused executed a land sale agreement on August 1, 2024, and accepted around Rs 17 crore for the entire transaction and associated…

IndustryLatest Stories

SRA Cancels 181 of 228 Mumbai Joint Venture Projects

MUMBAI: Nearly two years after the government instructed various state-run corporations to carry out slum redevelopment at 228 locations in collaboration with the Slum Rehabilitation Authority (SRA), 181 projects have been abandoned due to minimal progress and feasibility issues. Of the 77 proposed joint ventures, the Brihanmumbai Municipal Corporation (BMC) will now proceed with only 44, while the Maharashtra Housing and Area Development Authority (Mhada) will complete 2 of its 24, and the Mumbai Metropolitan Region Development Authority (MMRDA) will implement just 1 of its 5. The SRA will take over these projects under its cluster redevelopment scheme or through…