Category: Latest Stories

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Latest StoriesRegulatory

NGT Orders Greater Noida to Report Illegal Buildings Monthly

NOIDA: Illegal construction has persisted in the city, despite repeated affidavits and responses submitted by former municipal corporator Rajendra Tyagi to the National Green Tribunal (NGT). The Greater Noida Industrial Development Authority (GNIDA), which is tasked with addressing such issues, has neglected to comply with multiple NGT directives and has received an additional four weeks to respond. The UP Pollution Control Board (UPPCB) has indicated that a report from GNIDA is essential to determine if the contested constructions surpass the 5,000 sqm threshold that necessitates consent for establishment. Last July, the Authority’s representative assured a comprehensive affidavit within three weeks,…

Latest StoriesResidential

Noida: Mahagun Mywoods Residents Protest Builder’s Neglect

NOIDA: Residents of Mahagun Mywoods protested late Sunday, demanding prompt action from the builder regarding various unresolved issues, including sewage treatment failures, electricity dues, inadequate security, and malfunctioning lifts. This protest is part of a series of weekend demonstrations addressing these ongoing concerns, as previously reported by TOI. Residents highlighted multiple infrastructure problems, such as a non-operational sewage treatment plant (STP1), halted construction on STP2, faulty lifts, loose electrical fittings, and neglected common areas. They are also pushing for the completion of flat registries, resolution of unpaid water bills, a thorough safety audit, and accountability for alleged financial mismanagement. Security…

CommercialLatest Stories

Embassy Office Parks REIT’s FY26 NOI Soars 15%

NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has reported a 15% increase in its net operating income (NOI) totaling ₹3,760 crore for the financial year 2025-26. The Board of Directors of Embassy Office Parks Management Services (EOPMSPL), the manager for Embassy REIT, declared distributions of ₹6,161.31 million (or ₹6.50 per unit) for the quarter ending March 31, 2026. This distribution includes ₹132.71 million (₹0.14 per unit) as interest, ₹1,317.57 million (₹1.39 per unit) as dividends, and ₹4,711.03 million (₹4.97 per unit) toward repayment of SPV-level debt. Amit Shetty, CEO of the company, stated, “We successfully leased 6.4 million sq…

IndustryLatest Stories

Land Deals Fall 22% in India FY26: Anarock Report

Representative Image NEW DELHI: Land transactions experienced a notable decline in the 2025-26 fiscal year, dropping by 22.38%. Only 111 land deals, covering over 2,994 acres, were completed across India, down from 143 deals in the prior year. Among these, listed companies executed 54 deals, accounting for 49% of the total transactions and covering 1,433 acres, as per an Anarock report. Bengaluru emerged as the leading market for listed developers, with 17 deals covering more than 293 acres, while Pune recorded eight deals totaling approximately 78 acres. The Mumbai Metropolitan Region (MMR) had seven deals spanning over 51 acres. Chennai…

CommercialLatest Stories

Villagers Reject Multi-Dwelling Units at Loliem

CANACONA: The Loliem-Polem gram sabha voted unanimously on Sunday against the construction of multi-dwelling units, including residential complexes, commercial blocks, hotels, and other large projects. Residents expressed their concerns following an application from a Mapusa-based real estate company seeking a license to build 36 villas and a swimming pool behind S S Angle higher secondary school at Dapot. In response, the gram sabha urged the panchayat to contact the deputy town planner and district deputy collector to ensure the resolution is implemented. Villagers emphasized the need for the panchayat to enforce their demands and, if necessary, appeal to the highest…

IndustryLatest Stories

L&T Realty Purchases 20 Acres in Gurugram

AI-generated representative image NEW DELHI: L&T Realty Properties (LTRPL), a fully owned subsidiary of L&T, has acquired a 100% stake in International Green Scapes (IGSL) located in Delhi. This acquisition allows LTRPL to utilize 20 acres of land possessed by IGSL in Gurugram. This marks the company’s inaugural land acquisition in the NCR micro-market, with the site offering a development potential of about 3.6 million sq ft. In FY26, LTRPL and L&T Realty Developers, another subsidiary of the company, successfully completed land acquisitions in Mumbai, Delhi, and Bengaluru, amounting to a total development potential of three million sq ft. L&T…

Latest StoriesRegulatory

Karnataka HC: Compliance with Safety Norms Essential for Buildings

BENGALURU: The Karnataka High Court has ruled that high-rise residential buildings, including compact or “pocket” apartments, cannot be permitted if they pose a public safety risk, particularly to their occupants and nearby residents. A division bench, consisting of Justice DK Singh and Justice TM Nadaf, made this determination while dismissing a writ appeal from a Bengaluru real estate developer regarding compliance with fire safety setback requirements. The appeal, filed by Vishnu Sri Builders and Developers, contested an earlier order from a single judge about a modified building sanction plan for an apartment project in Halagevaderahalli, Rajarajeshwari Nagar. The dispute stemmed…

Latest StoriesRegulatory

Bombay HC Supports Housing Society, Approves New Builder After 13 Years

MUMBAI: The Bombay High Court has rejected a builder’s motion to prevent a Wadala society from replacing him in the redevelopment of 46 buildings with 900 tenants. Justice Sandeep Marne dismissed the challenge by Pioneer Constructions against Sahakar Nagar CHS, stating that while the builder was appointed in 2013 for the redevelopment, the tenants could not be expected to wait indefinitely. The High Court highlighted that the interests of the housing members “are far more significant” than those of the developer. This ruling came in response to the builder’s petition, which expressed concern that the society would contract with a…

IndustryLatest Stories

Mumbai’s SRA Freezes Builders’ Sale Flats to Ensure Rent

MUMBAI: The Slum Rehabilitation Authority (SRA) has mandated developers to deposit an advance rent covering two years for slum residents in their projects. Additionally, the SRA has started ‘freezing’ sale flats equivalent to three years of rent until builders provide new homes to qualified slum dwellers. This proactive measure aims to ensure that rent payments are secured and permanent housing is provided to eligible slum residents, according to SRA officials. This is the first instance of the SRA freezing portions of flats or commercial units from projects to prevent developers from neglecting their rental obligations to slum dwellers. SRA previously…

Latest StoriesRegulatory

Mumbai: No medical bail for Mid-City Heights’ fraud partner

MUMBAI: A special court under the Maharashtra Protection of Interest of Depositors (MPID) Act denied the medical bail request of businessman Amarjeet Shukla on Saturday. He is accused of involvement in a real estate fraud amounting to Rs 55.71 crore. The court determined that although Shukla’s medical issues require attention, they do not constitute a life-threatening emergency justifying his release from custody. Shukla, a partner at Mid-City Heights, was arrested in August 2025 for allegedly deceiving members of the Zakaria Aghadi Nagar No 3 Co-operative Housing Society by selling the same flats to multiple buyers and failing to provide the…