Category: Latest Stories

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IndustryLatest Stories

Meghna Infracon to Invest ₹500 Crore in Five Mumbai Projects

Representative AI image NEW DELHI: Meghna Infracon Infrastructure plans to invest up to ₹500 crore in five redevelopment projects across Mumbai and Thane, aiming to expand its presence in premium residential and commercial segments. The projects, situated in pivotal micro-markets like Goregaon West, Bandra West, Khar West, Juhu-Vile Parle, and Wagle Estate in Thane, are anticipated to have a total gross development value (GDV) of approximately ₹600 crore. With these new developments, the company’s total development pipeline is projected to exceed 10 lakh sq ft, bringing the cumulative GDV of its ongoing and upcoming projects to more than ₹1,000 crore.…

Latest StoriesRegulatory

FIR Filed Against 6 Officials in Beed PMAY Scam Worth ₹4.2 Crore

CHHATRAPATI SAMBHAJINAGAR: A recent discovery has revealed a ₹4.2 crore fraud connected to the Pradhan Mantri Awas Yojana (PMAY) in the Kej nagar panchayat of Beed district. This has led police to file an FIR against six officials for allegedly misappropriating housing funds. The FIR was registered late Sunday at the Kej police station, citing IPC sections 201, 204, 409, 420, and 34. Beed Superintendent of Police Navneet Kanwat stated that the complaint was filed by Ajit Ganpatrao Dhope, the chief officer of Kej nagar panchayat. The irregularities were uncovered after an audit by the Maharashtra Housing and Area Development…

IndustryLatest Stories

Domestic Investors Make Up 76% of Q1 2026 Real Estate Inflows

Representative AI image NEW DELHI: Domestic institutional investors have maintained their dominance in India’s real estate investment sector during the January–March 2026 quarter, representing the bulk of inflows for the third consecutive quarter, as reported by Cushman & Wakefield. Total institutional investment in the sector reached $1.6 billion in this quarter, reflecting a 26% year-on-year increase. Domestic capital contributed $1.2 billion, or 76% of total inflows, while foreign investment accounted for the remaining $0.4 billion. The report notes a persistent shift in capital allocation, with domestic investors increasing their share of investments in four of the last five quarters. Their…

IndustryLatest Stories

Gaya Bans Construction and Land Deals Until March 2027

GAYA: The state government has imposed a ban on all construction activities and land transactions in certain areas of Gaya district as part of its ambitious satellite township development initiative and a long-awaited master plan to manage future urban growth. This prohibition, aimed at preventing unregulated development in designated planning zones, will remain in effect until March 31, 2027, as per an official notice. The government decree specifically prohibits construction and land transactions in two wards of the Gaya Municipal Corporation (GMC) — ward numbers 29 and 46 — along with 20 wards of the Bodh Gaya Nagar Parishad. Ward…

Latest StoriesResidential

490+ Plots Available in Lucknow’s Anantnagar Scheme

Representative Image LUCKNOW: The Lucknow Development Authority (LDA) is set to launch the second phase of online registration for residential plots in its Anantnagar scheme starting April 28. The registration period will remain open until May 27, with a total of 498 plots available for allocation through a lottery system. LDA Vice-Chairman Prathamesh Kumar has initiated the allotment process. Applicants must pay a registration fee of 5% of the estimated plot value. LDA officials noted that over 1,283 plots have already been allocated in previous phases. Spanning 785 acres along Mohan Road, the scheme is being developed with a grid-based…

InfrastructureLatest Stories

Bihar to Build 11 Satellite Townships via Land-Pooling Model

PATNA: A senior official announced on Monday that the development of 11 proposed satellite townships in Bihar will proceed through land-pooling under the Town Planning Scheme (TPS). On Wednesday, the state government approved the establishment of these greenfield townships and enacted a moratorium on land sales, transfers, developments, and construction activities in the identified regions. Urban Development and Housing Department (UDHD) principal secretary Vinay Kumar stated to reporters, “We aim to include everyone in the development process. The townships will be developed using land-pooling under the TPS, whereby 55% of the developed land will be returned to the farmers.” The…

IndustryLatest Stories

Nashik body moves to cancel 26 layouts tied to MHADA scam

NASHIK: The civic authority has initiated steps to revoke 26 preliminary layouts in the initial phase of actions related to the MHADA housing scam, following the police booking of 197 individuals and the establishment of a state-appointed special investigation team to probe the matter. Officials from the Nashik Municipal Corporation’s (NMC) town planning department indicated that this action was prompted by reports from the land records survey department, which revealed that the tentative layout maps were absent from the department’s official base maps. “The cancellation process for all 26 layouts will begin and is expected to be completed within the…

IndustryLatest Stories

Gurugram: HSVP Halts Demolition, Awaits HC Guidance

File Photo GURUGRAM: The citywide anti-encroachment initiative by Haryana Shahari Vikas Pradhikaran (HSVP), set to commence on Monday, has now been postponed. This decision has come in light of a pending petition before the Punjab and Haryana High Court regarding the stilt-plus-four-floor construction policy, which is tied to numerous encroachment cases. Although the court declined to halt demolitions in the city, HSVP officials indicated that the drive would only proceed following explicit instructions from the bench. A senior HSVP official, who requested anonymity, confirmed the delay. “The initiative has been postponed as the matter is under High Court review. We…

CommercialLatest Stories

ICICI Pru Alternatives Acquires RMZ Office Assets for ₹2,600 Cr

MUMBAI: ICICI Prudential Alternatives has purchased two Grade A office properties from the RMZ Group in Bengaluru and Pune for approximately ₹2,600 crore, thereby enhancing its portfolio in income-generating commercial real estate. The acquisition was made through the ICICI Prudential Office Yield Optimiser Fund, a ₹2,500 crore initiative targeting completed and pre-leased office spaces in major Indian markets. The Bengaluru property, EcoWorld 21, is situated on the Outer Ring Road, the largest office micro-market in the country and a center for global capability centers (GCCs). This facility encompasses around 675,000 sq ft, leased to a variety of multinational companies with…

Housing FinanceLatest Stories

Bajaj Housing Finance Q4 FY26 Profit Up 14% to ₹669 Crore

NEW DELHI: Bajaj Housing Finance reported a 14% increase in net profit to Rs 669 crore for the March quarter, driven by strong housing loan growth. Last year, the company recorded a net profit of Rs 587 crore in the same quarter. In its regulatory filing, Bajaj Housing Finance noted that total income rose to Rs 2,903 crore during the quarter, up from Rs 2,508 crore the previous year. The firm reported interest income of Rs 2,707 crore for the quarter, compared to Rs 2,374 crore in the same period last year. Net interest income increased by 15% to Rs…