Category: Latest Stories

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Latest StoriesRegulatory

Chhattisgarh EOW Chargesheet: Loan Case Loss Soars to ₹104 Crore

RAIPUR: The Chhattisgarh Economic Offences Wing (EOW) has submitted a chargesheet against three individuals in a 26-year-old case linked to fraudulent loans totaling Rs 1.86 crore. With interest, this has escalated into a bad debt of approximately Rs 104 crore, officials reported on Saturday. The extensive 15,000-page chargesheet was presented on Friday to a special court under the Prevention of Corruption Act in Raipur against Thawardas Madhwani, the former president of Adhunik Grih Nirman Cooperative Society Ltd, Pradeep Kumar Nikhra, the former manager of the Madhya Pradesh State Cooperative Housing Federation Ltd (MPSCHFL), and Basant Kumar Sahu, the former housing…

Latest StoriesRegulatory

Bombay HC warns on illegal home mods, urges state for guidelines

MUMBAI: The Bombay High Court has directed the Maharashtra government to establish comprehensive guidelines regarding permissible alterations in residential flats, following an observation that it is common for flat owners to modify open terraces or their living spaces. “There cannot be two classes of citizens: those who obey the law and those who disregard it. Law enforcement must not be selective,” noted the High Court’s division bench, consisting of Justices AS Gadkari and Kamal Khata, in a ruling on July 16. The bench added that unauthorized large-scale constructions cannot continue just because others have committed similar violations. It has instructed…

IndustryLatest Stories

Punjab Simplifies Property Registration, Cuts 35 Complex Terms

Representative AI image CHANDIGARH: In a move to enhance accessibility, the Punjab government has revamped property registration documents by substituting 35 complex revenue terms with simple Punjabi alternatives, making it easier for the public to navigate land and property transactions. Hardeep Singh Mundian, the Minister of Revenue, Rehabilitation, and Disaster Management, announced this initiative on Sunday. Under Chief Minister Bhagwant Singh Mann’s leadership, the revisions aim to cultivate transparency, improve citizen engagement, and simplify government services. He noted that traditional terms in property registration often left everyday citizens perplexed. Following the Chief Minister’s directives, a special committee was established by…

Latest StoriesRegulatory

Bank of Baroda Liable for Missed PMAY Benefit, Rules Court

SURAT: The Navsari Consumer Disputes Redressal Commission (CDRC) has held Bank of Baroda accountable for not processing a home loan borrower’s application for a Pradhan Mantri Awas Yojana (PMAY) subsidy. The bank has been ordered to pay Rs 3.75 lakh to the borrower, Kiran Tandel, along with 9% interest. This compensation includes Rs 2.35 lakh for the PMAY subsidy that was not received and Rs 1.4 lakh for additional interest incurred on the home loan. The commission also awarded Rs 5,000 for harassment and litigation costs. The commission dismissed the bank’s argument that the subsidy was a government matter and…

IndustryLatest Stories

Regime Change Boosts Realtors’ Hopes in West Bengal

NEW DELHI: The new administration in West Bengal is anticipated to stimulate a surge in real estate activity in Kolkata and its surrounding areas, as developers look forward to strategic land reforms, including repealing the Urban Land (Ceiling and Regulation) Act of 1976, to facilitate development and draw in new investments. “Our expectations for the current West Bengal government are high, particularly given its commitment to growth and investment,” stated Saket Mohta, Managing Director of Merlin Group. “The real estate domain holds significant potential to serve as a pivotal growth engine for the state, and we are hopeful for accelerated…

IndustryLatest Stories

Nashik Sees Redevelopment Surge as Residents Exit Aging Buildings

Representative AI image NASHIK: The city is poised for a significant redevelopment initiative, with thousands of aging housing societies and apartment complexes set to be reconstructed over the next three to five years to meet the growing demand for modern residences, improved amenities, and safer buildings. This trend is already apparent in the applications received by Nashik Municipal Corporation (NMC)’s town planning department, with redevelopment projects now accounting for approximately 20-25% of all building plan proposals submitted for approval. To prepare for expected increases in residential density, NMC is simultaneously planning infrastructure upgrades to cater to the city’s needs over…

Latest StoriesResidential

Karnataka Forms Panel to Address e-Swathu Issues, B-Khata for Rural Properties

Representative AI image Lakhs of rural property owners are facing difficulties in obtaining e-Swathu (e-Khata) records due to ongoing technical and server issues. In response, Rural Development and Panchayat Raj Minister Eshwar B Khandre announced the establishment of a five-member committee to tackle these challenges. In a written directive, Khandre highlighted that the e-Swathu applications are pending due to software and server issues. He instructed the formation of a committee led by the RDPR Secretary, D Randeep, which will include the chief executive officers (CEOs) of Bengaluru, Mangaluru, Kalaburagi, and Belagavi districts. This committee is tasked with submitting its recommendations…

IndustryLatest Stories

HMDA Aims to De-Notify Kokapet IT SEZ for Land Unlocking

Representative AI image HYDERABAD: Almost two decades after designating 117 acres in Kokapet for a prominent information technology special economic zone (IT SEZ), the Hyderabad Metropolitan Development Authority (HMDA) has decided to terminate the project and prepare the valuable land for auction, potentially yielding around Rs 12,000 crore. HMDA has requested the Centre to de-notify the IT SEZ, allowing the state government to reallocate the land for generating revenue. Officials revealed that approximately 90 to 95 acres of the original designation are currently available and could be auctioned following the necessary approvals. The planned SEZ was first proposed by the…

Latest StoriesResidential

Gurugram Residents Protest Godrej Oasis Fee Increase

GURUGRAM: Residents of Godrej Oasis in Sector 88A protested on Saturday against a significant increase in common area maintenance (CAM) charges. They alleged inadequate maintenance services, lack of financial transparency, and delayed resolution of long-standing society issues, including unpaid salaries for housekeeping staff. Despite raising their concerns through emails and meetings with the developer for several months, they reported receiving unsatisfactory responses. The CAM charges increased from approximately Rs 4.79 per square foot to Rs 6.58 per square foot, excluding 18% GST, without proper justification or consultation with the residents. On Saturday, the society’s housekeeping services halted after sanitation workers…

InfrastructureLatest Stories

Jaipur authority demolishes two illegal colonies in Kanota

Representative AI image JAIPUR: On Saturday, the Jaipur Development Authority (JDA) demolished two illegal colonies occupying nearly six bighas of private agricultural land in Kanota to prevent unauthorized urbanization early on. Deputy Inspector General of Police Anand Sharma from the JDA enforcement wing reported that one of the colonies was being developed on about two bighas in Kanota village, near Anand College on Dudhawala Road. “Developers reportedly leveled the land and constructed soil-gravel roads and other basic infrastructure without JDA approval or mandatory land-use conversion. Acting on reliable information, our enforcement team, supported by Zone-24’s revenue and technical staff, used…