Category: Latest Stories

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IndustryLatest Stories

Bhubaneswar Body Issues SOP for Land Reconstitution

Representative AI image BHUBANESWAR: The Bhubaneswar Development Authority (BDA) has unveiled a draft Standard Operating Procedure (SOP) for the reconstitution of land parcels under town planning schemes 42 to 45 in Zone IV. BDA officials explained that this initiative aims to create a transparent framework for the fair distribution of reconstituted plots, prioritizing maximum benefits for landowners. “A key element of the draft SOP is the provision for voluntary amalgamation of plots within the same mouza (a designated area under a tehsil). Landowners who combine their holdings will receive 60% of the total land area after a standard 40% deduction.…

IndustryLatest Stories

Maharashtra Cabinet Likely to Approve Vertical Property Cards in June

Representative AI image PUNE: A revised proposal for “vertical property cards” aimed at flat owners has been reintroduced to the state government and is anticipated for cabinet review in June, as stated by officials from the settlement commissioner’s office. The proposal, which has lingered for almost four years, has recently been sent to the law and judiciary department with several incorporated modifications. A senior official mentioned, “It should go before the cabinet once the department approves it.” If sanctioned, Maharashtra will be among the select states in India to adopt such a system. The initial rollout will target projects registered…

Latest StoriesRera

Karnataka-RERA: Builders and Landowners Share Delay Responsibility

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA) has clarified that both landowners and promoters bear equal responsibility, classifying them as promoters under Section 2(zk) of the RERA Act, 2016. In a case related to a complaint filed by BS Susheela Ramamurthy, a landowner from Dodda Kallasandra village in Bengaluru South taluk, K-RERA concluded that the complainant could not seek relief from the promoter. “We believe that further discussion is unnecessary since the complaint is not maintainable. Therefore, this complaint should be dismissed,” the RERA order states. According to Section 2(zk) of the RERA Act, 2016, a promoter is defined…

IndustryLatest Stories

Mumbai Housing Societies Can Expand Leisure Facilities Free of FSI

Representative AI image MUMBAI: Housing societies can now expand their yogalaya, fitness centre, recreation area, or meditation centre within their premises without floor space index (FSI) limitations. The state urban development department has issued a notification that raises the permissible area for such amenities from 2% to 4% of the total built-up area of the project. Each yogalaya or fitness centre must be at least 323 square feet, and a covered swimming pool is also allowed within this 4% limit. Any utility area exceeding 4% will count towards the FSI, according to the notification. The state urban development department has…

IndustryLatest Stories

MHADA Approves Consortium for 33-Acre Abhyudaya Nagar Project

The Maharashtra Housing and Area Development Authority (MHADA) has granted a letter of acceptance (LoA) to a consortium made up of M.G.N. Agro Properties, N.N.P. Buildcon, and Honest Shelters for the large-scale redevelopment of the Abhyudaya Nagar colony. This area spans 33 acres in Kalachowki, South Mumbai, and signifies a significant advancement in the city’s public housing renewal efforts. As part of the redevelopment initiative, residents currently residing in 210 sq ft tenements will receive new flats of 641 sq ft carpet area at no cost. This project will follow a Construction and Development (C&D) model managed by an appointed…

InfrastructureLatest Stories

DDMA Issues Eviction Notices to Yamuna Bazar Residents

File Photo NEW DELHI: The Delhi Disaster Management Authority (DDMA) has initiated eviction notices for residents of Yamuna Bazar in the Kashmere Gate area, officials announced on Thursday. Residents have been given a 15-day period to vacate the premises voluntarily and remove their belongings. If they fail to comply, a demolition drive will take place to eliminate the “encroachment,” as stated in the notice. “An illegal encroachment consisting of approximately 310 residential units at Yamuna Bazar, located along the banks of the Yamuna River in the O-Zone, is present,” the DDMA notice, dated May 5, detailed. “This area is subjected…

Latest StoriesRegulatory

CBI Files Fifth Chargesheet in Builder-Banker Nexus Case

NEW DELHI: The Central Bureau of Investigation (CBI) has submitted a fifth chargesheet in connection with the builder-banker nexus involving CHD Developers Ltd and its directors for alleged fraudulent activities linked to a project in Gurugram, as reported by officials on Thursday. The CBI, assigned these cases by the Supreme Court, detailed in its report to the court that the company used misleading representations and deceptive promises to attract “innocent homebuyers and investors,” ultimately resulting in considerable financial gains while inflicting wrongful losses. “The charge sheet has been filed before the appropriate court under the relevant sections of the Indian…

Latest StoriesRera

Haryana RERA’s Gurugram Bench Approves 35 Projects (Jan-Apr 2026)

NEW DELHI: The Haryana Real Estate Regulatory Authority (HARERA) – Gurugram bench has approved 35 projects in the first four months of 2026, with 23 of them being residential. To date, a total of 1,057 projects have received approval, of which 825 are residential. HARERA has introduced several reforms, including improved scrutiny of information submitted by real estate developers during project registration, mandatory site inspections by experts, quarterly progress report filings, and public consultation via public notices as a requirement for project registration. The authority has also resolved all pending complaints filed up to 2024. Published On May 8, 2026…

CommercialLatest Stories

Bagmane Prime REIT IPO Oversubscribed 23.71 Times

NEW DELHI: The initial public offering (IPO) of Bagmane Prime Office REIT, backed by Blackstone, was subscribed 23.71 times by the end of the bidding period on Thursday, demonstrating strong investor interest. The IPO, valued at Rs 3,405 crore, received bids for 3,50,77,38,150 units against 14,79,21,000 units available, according to NSE data. The institutional investor category saw a subscription rate of 25.25 times, while retail investors submitted bids 21.87 times the available quota. More than 200,000 applications were recorded for the offer, surpassing previous REITs such as Knowledge Realty Trust, Nexus Select Trust, Mindspace Business Parks REIT, Brookfield India REIT,…

Latest StoriesResidential

Chhattisgarh: 50% Property Registration Rebate for Women

RAIPUR: In a significant move to bolster women’s ownership of assets, the Chhattisgarh government has introduced a 50% rebate on registration fees for properties registered in women’s names. This decision, endorsed by Chief Minister Vishnu Deo Sai, was officially announced in the gazette on Wednesday and takes effect immediately. According to officials, this initiative aims to motivate families to register immovable property under women’s names, enhancing their economic security and social status. The government anticipates that this rebate will gradually increase women’s participation in property ownership, an essential aspect of financial independence. Chief Minister Sai hailed the announcement as a…