Category: Latest Stories

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InfrastructureLatest Stories

Allahabad HC Supports Noida Airport Expansion, Emphasizes Rehab

PRAYAGRAJ: The Allahabad High Court has upheld the land acquisition for the expansion of Noida International Airport in the Gautam Buddh Nagar district, rejecting petitions from affected landowners. The court found that the acquisition process adhered fully to the 2013 land acquisition law, indicating no material irregularities. A division bench consisting of Justice M C Tripathi and Justice Kunal Ravi Singh, while addressing a collection of writ petitions, stated: “Based on the preceding discussion and the reasons provided, this Court finds no merit in the challenges raised by the petitioners regarding the notifications dated April 11, 2025, and October 24,…

IndustryLatest Stories

Gurugram County Revives Housing for 400 Buyers, ETRealty

NEW DELHI: NCR-based real estate developer County Group has taken over two stalled housing projects in Gurgaon, providing relief to approximately 400 homebuyers who have faced delays of over ten years. This acquisition will provide the developer with roughly 2.6 million square feet of saleable space, projecting potential revenues of Rs 4,000 crore. The group secured Ashiana Landcraft through the National Company Law Tribunal (NCLT). This project involves a 14-acre residential development along the Dwarka Expressway in Gurgaon. “Around seven acres of this project were partially developed, leaving 326 homebuyers stranded since 2014. We revamped the existing buildings and common…

Latest StoriesResidential

MHADA Cuts Vikhroli Flat Prices by 7.5% Due to Low Demand

Here’s a rewritten version of the content: MUMBAI: In light of disappointing public interest, Mhada has announced a 7.5% price cut for 1,221 flats available in Vikhroli for the upcoming lottery on June 5. This price reduction brings the cost down by Rs 10 lakh. Previously priced between Rs 1.45-1.48 crore, the flats in Kannamwar Nagar, Vikhroli, are now available for Rs 1.35-1.37 crore. Recent years have seen a decline in public interest in the Mhada housing lottery, as its previously affordable flats now command market-level prices. Potential buyers have expressed that private developers offer superior construction quality and amenities…

IndustryLatest Stories

Ramky Estates Revives Skylark Projects in Bengaluru with ₹600 Cr Funding

Sure! Here’s a rewritten version of the content: NEW DELHI: Ramky Estates & Farms has acquired stalled residential projects totaling approximately 4.3 million sq ft in Bengaluru from Skylark Builders. The developments, situated in prominent areas such as Electronic City and Whitefield, are projected to generate around ₹2,000 crore in revenue, with an estimated remaining completion cost of ₹1,500 crore. To facilitate the execution of these projects, the developer has secured ₹600 crore in funding from the government-supported Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund. The projects have been rebranded as ‘Ramky Lumina’ in Electronic City and ‘Ramky…

IndustryLatest Stories

Builders request Gujarat RERA to extend project deadlines by 6 months

AHMEDABAD: The real estate developers’ association, Credai Ahmedabad, has requested the Gujarat Real Estate Regulatory Authority (GujRERA) for a six-month extension on ongoing housing projects under the force majeure provision of the RERA Act. The appeal comes in light of increased construction costs, supply chain disruptions, and labor shortages. In its communication to the regulator, the association highlighted that the ongoing conflict in West Asia has severely impacted the availability of crude-related construction materials, which is hindering project execution and straining financial planning in the sector. Developers are struggling to meet completion deadlines for current projects, with new launches and…

Latest StoriesResidential

Prayagraj: PDA Permits Family Members to Buy Flats Together

PRAYAGRAJ: In a pivotal move aimed at enhancing housing accessibility and encouraging the sale of unsold properties, the Prayagraj Development Authority (PDA) has introduced the long-anticipated Model Costing Guidelines. This new policy permits multiple family members to buy separate flats or houses under its residential schemes. This change represents a significant shift from prior regulations that restricted allotments in PDA housing projects to just one family member. Officials pointed out that no significant guidelines governing property transactions in development authority schemes have been introduced since 1999. This reform is thus considered a landmark decision after 26 years, having been officially…

IndustryLatest Stories

Govt Updates Building Code, Keeps Fire Safety Provisions Advisory

NEW DELHI: The government has officially replaced the National Building Code (NBC) with the National Building Construction Standards (NBCS) as of Thursday. This shift comes after directives from the Deregulation Cell under the Cabinet Secretariat. The new standards aim to provide guidelines rather than enforceable rules. According to sources, a primary reason for this change was that the previous code, while voluntary, implied legal obligations due to its terminology, leading to numerous court cases. Although the Deregulation Cell had initially suggested excluding the “fire and life safety” section from the standards, it was included in NBCS following significant pressure from…

Latest StoriesRegulatory

Bombay HC Orders Demolition of Ulhasnagar Tower Over Fraudulent Permits

MUMBAI: The Bombay High Court has upheld the Ulhasnagar Municipal Corporation’s order to demolish the 16-storey “Jhalak Paradise” building in Ulhasnagar, rejecting a petition from the developer and criticizing both the builder and civic officials for allegations of fraud and significant violations. Justices Kamal Khata and A.S. Gadkari mentioned that the petitioners had “clearly misled the Corporation and obtained approvals unlawfully.” The court further pointed out that the Ulhasnagar Municipal Corporation officials neglected to verify documents before giving permissions. Inconsistencies in the developer’s claims were noted by the bench. Although the petitioners referenced a 2021 report indicating that the plot…

Latest StoriesResidential

Jharkhand Housing Board Cancels 30+ Residential Allotments in Ranchi

RANCHI: The Jharkhand State Housing Board (JSHB) is moving to revoke over 30 residential allotments in the Harmu and Bariatu housing colonies for unauthorized commercial use. This decision follows a series of notices issued to property owners who have not responded satisfactorily. A JSHB representative, speaking anonymously, stated that the cancellation process is nearly complete after three rounds of notifications were sent to owners operating businesses such as clinics, pharmacies, coaching centres, and retail stores on their residential plots. Officials from JSHB’s Ranchi division reported that nearly 400 commercial units have been identified operating illegally within residential areas across Harmu,…

Latest StoriesResidential

Mumbai Sees 13,800+ Property Registrations in April: Knight Frank

NEW DELHI: The residential market in Mumbai maintained its strong performance, as property registrations surpassed 13,800 units in April 2026—marking the highest count for the month in over 14 years, according to data analyzed by Knight Frank India. During the month, registrations within the Brihanmumbai Municipal Corporation (BMC) jurisdiction reached 13,864 units, reflecting a 6% increase year-on-year. This figure exceeds last year’s April peak of 2025. Stamp duty collections for April were estimated to exceed ₹1,100 crore, showing a slight increase of one percent compared to the previous year. The modest growth in collections—despite higher registrations—indicates a shift in the…