Category: Latest Stories

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Latest StoriesRegulatory

ED Arrests ex-Lodha Developers Director in ₹85 Cr Money Laundering

MUMBAI: The Enforcement Directorate (ED) has formally arrested Rajendra Lodha, a former director of Lodha Developers Limited, in connection with an alleged money laundering case involving ₹85 crore. The ED’s case is built on accusations of cheating and forgery reported by the Mumbai police under the Bharatiya Nyaya Sanhita (BNS). Lodha was previously arrested in a related crime branch case back in September and has remained in judicial custody. During the investigation, the ED presented him to a special court overseeing cases filed under the Prevention of Money Laundering Act (PMLA), where he was officially placed under arrest. He is…

Latest StoriesRegulatory

Mumbai launches e-auction for six properties over ₹455 crore tax

MUMBAI: The Mumbai civic body has initiated e-auction proceedings for six properties due to unpaid property taxes totaling ₹455.48 crore. The Brihanmumbai Municipal Corporation (BMC) has also issued final notices to two additional defaulters, as stated in their release. “Despite receiving several notices, the property owners have failed to pay the outstanding amount of ₹455,48,94,374, including penalties. Consequently, the e-auction process will begin for six properties located in Goregaon (West), Bandra (West), Dahisar, Parel, Mazgaon, and Malad-Kurar village,” the release detailed. The two properties in the Fort area of South Mumbai have been given 21 days to settle their dues,…

Latest StoriesRegulatory

Gurugram Naib Tehsildar Faces Scrutiny Over Deeds for Ansal

GURUGRAM: A naib tehsildar is under investigation following the suspension linked to a hotel registry scandal. Narender, stationed in Wazirabad, is accused of registering multiple conveyance deeds associated with Ansal Buildwell, despite a ban from the Department of Town and Country Planning (DTCP). Recently suspended due to the Bristol Hotel registry controversy, Narender is now being scrutinized for his involvement in past registries approved at the tehsil level. Concerns have arisen from the registries processed in Wazirabad, particularly regarding a deed for approximately 450 square yards of land meant for a dispensary in Sushant Lok 3, which was registered without…

Latest StoriesRegulatory

Bombay HC Upholds Deemed Conveyance for Commercial Society

MUMBAI: On Wednesday, the Bombay High Court upheld a deemed conveyance awarded by a deputy registrar to a commercial cooperative society in Andheri East. The court ruled that a law established for public interest cannot be superseded by a contract between a builder and flat purchasers that allows the builder to retain development rights over the land. Krishna Developers challenged the deemed conveyance granted to Corporate Centre Premises Co-operative Society Ltd., which represents the unit owners of three buildings registered in 2007. The builder’s lawyer argued for executing the conveyance while reserving specific rights under the agreements with flat purchasers.…

IndustryLatest Stories

Andhra’s First Slum Rehabilitation Authority in Visakhapatnam

Representative AI image VISAKHAPATNAM: The Greater Visakhapatnam Municipal Corporation (GVMC) has announced plans to amend the Visakhapatnam Municipal Corporation Act of 1979, marking a significant step towards establishing a Slum Rehabilitation Authority in Andhra Pradesh. This initiative aligns with the broader goal of urban redevelopment under the newly introduced Visakhapatnam Economic Region (VER) program. GVMC has initiated pilot projects for slum redevelopment in Velampeta and Indira Gandhi Nagar, submitting proposals to the state government. Both localities are set to be transformed into high-rise residential complexes. Currently, residents face challenges related to inadequate housing, cramped living conditions, poor sanitation, and a…

IndustryLatest Stories

Puravankara Q3 FY26 Net Profit at ₹58.34 Crore

NEW DELHI: Puravankara announced a consolidated net profit after tax of ₹58.34 crore for the quarter ending December 31, 2025, according to a filing with the BSE. This contrasts with a loss after tax of ₹92.64 crore reported during the same quarter last year. The company’s consolidated total income reached ₹1,104.06 crore in Q3 FY26, compared to ₹334.20 crore in the corresponding quarter of the previous fiscal year. The board of directors has approved the re-appointment of Ashish Ravi Puravankara as managing director for a five-year term, effective from April 1, 2026, through March 31, 2031. Additionally, the board has…

IndustryLatest Stories

Shriram Properties Settles Kolkata Land Issues with WB Gov.

NEW DELHI: Shriram Properties (SPL), via its subsidiary Bengal Shriram Hitech City (BSHCPL), has successfully resolved a long-standing commercial dispute with the West Bengal government. The agreement includes the transfer of 42.37 acres of land in Uttarpara, West Bengal. “With the execution and conveyance of the land, BSHCPL is fully discharged of its obligations in this matter,” stated the company. The land parcel in Kolkata covers 314 acres, with 48 acres currently utilized for ongoing projects totaling approximately five million sq ft of development. SPL aims to initiate new projects over the next five years, encompassing five to six million…

Latest StoriesResidential

Experion Developers to Invest ₹1,500 Crore in Noida Housing Project

NEW DELHI: Experion Developers has announced a ₹1,500 crore investment to develop the residential project SAATORI in Sector 151, Noida. The project, which spans five acres, features three standalone towers rising to G+38 floors, with one dedicated tower for 4BHK residences. BK Malagi, Vice Chairman of the company, stated, “This ₹1,500 crore investment underscores our long-term commitment to providing lasting value and world-class living standards.” DPA of Singapore is the architectural consultant, while Plandscape from Bangkok is responsible for the landscape design of the project. Published On Feb 12, 2026 at 04:41 PM IST Join a community of over 2…

Latest StoriesRegulatory

SC: RERA Fails to Act Against Defaulting Builders

NEW DELHI: The Supreme Court stated on Thursday that it is time for all states to reevaluate the formation of the Real Estate Regulatory Authority (RERA), which it claims is merely facilitating builders in default. A panel comprising Chief Justice Surya Kant and Justice Joymalya Bagchi expressed that the individuals RERA was intended to assist are “completely depressed, disgusted, and disappointed,” suggesting they would not oppose the institution’s dissolution. The remarks emerged as the bench allowed the Himachal Pradesh government to relocate the RERA office to its preferred location. The court issued a notice regarding a petition filed by the…

CommercialLatest Stories

Exotica Housing to invest ₹500 crore in Noida project

NEW DELHI: Exotica Housing is set to invest around ₹500 crore in its IT and ITES project, Exotica One32, located in sector 132, Noida. Covering an area of five acres, the project will provide IT and ITES office spaces ranging from 1,000 sq ft to 3,000 sq ft, distributed across two 27-story towers, as well as integrated retail spaces. Currently, office spaces are priced at ₹13,990 per sq ft, with phase-I expected to be ready for occupancy by January 2030. To date, the company has successfully delivered over 4,000 residential units across various projects in Delhi, Ghaziabad, Noida, and Greater…