Category: Latest Stories

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Latest StoriesRegulatory

SC Orders L&T to Vacate ₹1,000 Crore Pali Hill Bungalow

MUMBAI: The dispute over the Pali Hill bungalow, valued at over ₹1,000 crore, has concluded with L&T losing a lengthy battle that lasted two decades. The case revolved around a property with a lease that expired in 1970, but the tenant continued to occupy the premises, leading the owners to file for eviction in 2001. During the legal proceedings, Larsen & Toubro Limited acquired a minority share in the property and argued that it had become a co-owner, claiming eviction couldn’t be enforced. The courts dismissed this argument, deeming it a legal maneuver to impede the eviction. The Supreme Court…

Latest StoriesResidential

Mumbai Dissidents Demand Report on Taximen’s Colony Redevelopment

MUMBAI: Dissident members of the Bombay Taximen’s Cooperative Housing Society are preparing to contact the district deputy registrar (DDR) regarding the contentious special general meeting (SGM) that took place on Sunday, during which redevelopment rights were granted to Syba Spaces. During the SGM held at Taximen’s Colony, tensions escalated, prompting police presence to maintain order as opposing groups clashed over the decision to finalize Syba Spaces for redeveloping the aging complex. Dissenters raised concerns about a lack of transparency, claiming they were not allowed to record the meeting despite notifying the DDR and the managing committee on April 24 of…

Latest StoriesRera

RERA Paves Way for Claims Against Bengaluru Development Body

BENGALURU: The Bangalore Development Authority (BDA) may soon face additional compensation claims, as several allottees from the Nadaprabhu Kempegowda Layout (NPKL) recently secured favorable rulings from the Real Estate Regulatory Authority (RERA). By April, site owners had lodged 38 complaints against the BDA, with about 30 of those already settled by RERA. Most complaints were centered around compensation for delays in providing essential amenities such as roads, water, drainage, and electricity connections. The extensive housing project spans approximately 29,000 plots, located between Mysuru Road and Magadi Road in the Yeshwantpur assembly constituency. The completion delays have put more than 10,000…

Latest StoriesRegulatory

ED Seizes Raheja Developers’ Assets Valued Over ₹1,110 Crore

NEW DELHI: The Enforcement Directorate (ED) announced on Tuesday that it has attached assets valued over Rs 1,100 crore, linked to the promoters and entities associated with real estate firm Raheja Developers, amid an investigation into money laundering related to alleged fraud against homebuyers. The agency conducted searches as part of this case on April 25, where they seized bullion worth Rs 15.82 crore and foreign currency equivalent to Rs 15 lakh. The ED stated it has issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA), targeting immovable properties owned by N A Buildwell and Riyasat…

Latest StoriesResidential

5 Lakh Families in J-K to Get ‘Pucca’ Houses After Verification

SRINAGAR: Union Minister for Agriculture and Rural Development Shivraj Singh Chouhan announced on Tuesday that all five lakh families in Jammu and Kashmir living in temporary ‘kuchha’ houses will receive permanent ‘pucca’ houses following a physical verification process. “Prime Minister Narendra Modi has entrusted me with the responsibility of providing permanent housing to the underprivileged under the PM Awas Yojna. A recent survey in Jammu and Kashmir indicated that five lakh families are without stable housing. I assure you, after validation, no one will remain in ‘kuchha’ houses here,” Chouhan stated during an event. The minister additionally introduced 330 new…

IndustryLatest Stories

Revamp of Indiramma Housing Scheme: Telangana Minister

HYDERABAD: Housing and Revenue Minister Ponguleti Srinivas Reddy announced significant changes to the state’s flagship Indiramma housing scheme on Monday. The restructuring allows district collectors to have more authority in expediting housing approvals. He mentioned that special officers will be appointed for each undivided district to enhance cooperation between officials and elected representatives, aiming to eliminate ground-level obstacles. “Individuals who haven’t applied previously can now do so, and eligible candidates will receive housing approvals. District collectors are instructed to conduct weekly reviews with district housing officials,” he stated during a review meeting attended by ministers G Vivek and Jupally Krishna…

Latest StoriesRegulatory

Ghaziabad Falls Short of FY26 Stamp Duty Target by 14%

GHAZIABAD: The stamp and registration department concluded the fiscal year 2025-26 with a remarkable revenue collection of ₹2,963 crore, achieving 86% of its annual target of ₹3,480 crore. This marked a year-on-year growth of approximately 3.75%, with collections increasing by ₹107 crore from ₹2,856 crore in the previous financial year. According to officials, the Modinagar sub-registrar office (SRO) was the top contributor, generating ₹208 crore from sale deeds associated with a new industrial township developed by UPSIDA. This SRO accomplished 106% of its ₹196 crore target. Substantial housing and commercial development plans from various agencies in the district have contributed…

IndustryLatest Stories

Nagpur’s Eco-Friendly Property Scheme Adoption Below 1%

NAGPUR: Despite a consistent increase in participation, a significant concern arises — out of Nagpur’s nearly 8.38 lakh properties, only 4,488 have embraced eco-friendly practices under the Nagpur Municipal Corporation’s (NMC) ecological rebate program, resulting in adoption rates below 1% across all zones. This disparity underscores ongoing issues such as low awareness, high initial costs, and limited enforcement, hindering broader participation even with tax incentives. The ecological rebate initiative — which encompasses rainwater harvesting, rooftop solar installations, vermicomposting/organic waste management, and wastewater recycling — has begun to gain traction. Data from the property tax department reveals that 3,513 properties benefited…

IndustryLatest Stories

Mahindra Lifespace Developers Reports ₹298.17 Crore Profit FY26

NEW DELHI: Mahindra Lifespace Developers (MLDL) has announced a consolidated net profit after tax of ₹298.17 crore for the financial year 2025-26, a significant increase from the ₹61.35 crore reported in FY25. The company’s consolidated total income reached ₹1,265.96 crore in FY26, compared to ₹453.87 crore in FY25. In Q4 FY26, total income was ₹723.21 crore, while profit after tax stood at ₹90.12 crore. During the year, MLDL successfully completed a rights issue of 5,81,63,456 equity shares with a face value of ₹10 each at a cash price of ₹257 per share, totaling ₹1,494.80 crore. These funds will be used…

CommercialLatest Stories

Bagmane Prime Office REIT to Launch ₹3,405 Crore IPO May 5

NEW DELHI: Backed by Blackstone, Bagmane Prime Office REIT is set to launch its initial public offering (IPO) of Rs 3,405 crore, which is scheduled to open on May 5 and conclude on May 7. The anchor investor bidding will occur on May 4, as indicated in the offer document. The IPO includes a fresh issue of units worth up to Rs 2,390 crore and an offer-for-sale (OFS) of units totaling up to Rs 1,015 crore from the selling unitholder. Funds raised from the IPO will be used to acquire Luxor at Bagmane Capital Tech Park (comprising one million sq…