Category: Latest Stories

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Latest StoriesRegulatory

NGT Orders HSPCB to Halt Rewari Brick Kiln for Clearance Checks

Representative Image GURUGRAM: The National Green Tribunal (NGT) has instructed the Haryana State Pollution Control Board (HSPCB) to close a brick kiln in Rewari within a week, contingent upon confirming whether it possesses a valid Consent to Operate (CTO). This directive follows claims that the facility was violating environmental regulations and continuing operations despite a district-level closure order. Local resident Vikram Singh reported that Raria Brick Udyog in Kanmajra village was operating unlawfully, stating that it did not meet the standards set forth in the Union environment ministry’s notification from February 22, 2022. During the proceedings, the tribunal’s principal bench…

Latest StoriesRera

UP-RERA warns buyers on ‘assured returns’ schemes, ads

Representative AI image NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued a public advisory to homebuyers, cautioning them against deceptive promotional schemes such as “assured returns” and “fixed rental income before possession.” The authority stated that these offers lack legal validity. UP-RERA noted that many developers continue to promote schemes like subvention plans, pre-EMI payments until possession, buyback guarantees, and lease assurance models to lure buyers. Some developers also use flashy offers like free cars, gold coins, and international trips. Sanjay Bhoosreddy, chairman of UP-RERA, stated, “Homebuyers should be wary of promotional schemes like assured returns…

Latest StoriesRegulatory

ED Raids Kolkata’s Merlin Group in PMLA Case

KOLKATA: The Enforcement Directorate (ED) initiated fresh searches on Friday as part of its ongoing money laundering investigation into Merlin Group, a Kolkata-based real estate company, and related entities, according to officials. This recent action follows previous raids conducted by the agency on April 8 targeting Merlin Projects Limited and its promoters, Sushil Mohta and Saket Mohta. Officials indicated that 4-5 locations in Kolkata and the North 24 Parganas district are being searched under the Prevention of Money Laundering Act (PMLA) as part of the investigation. The Merlin Group has stated that it is cooperating with the ED and maintains…

Housing FinanceLatest Stories

Aditya Birla Housing Finance Allocates ₹2,750 Crore to Indriya

NEW DELHI: Aditya Birla Housing Finance (ABHFL) has successfully raised approximately ₹2,750 crore by issuing equity shares to Indriya, a company associated with global private equity firm Advent International. The firm allocated over 12.32 crore equity shares at ₹223.12 each on April 17, 2026, as noted in a regulatory filing. As a result of this transaction, Indriya now owns a 14.29% stake in ABHFL on a fully diluted basis. This also means that ABHFL is no longer a wholly owned subsidiary of Aditya Birla Capital (ABCL), with the parent company’s stake decreasing to 85.5%. The capital raise aligns with a…

IndustryLatest Stories

Tax Demands for Shree Cement, Ansal; Kesoram’s Cut to ₹6 Cr

Representative AI image NEW DELHI: Shree Cement, Ansal Housing, and Kesoram Industries have received tax-related orders from authorities, with the companies planning to contest these demands. Shree Cement has been issued a service tax demand order of ₹8.31 crore from the Commissioner of Central GST and Central Excise in Jodhpur. This order, dated April 16, 2026, includes applicable interest and an equivalent penalty. The demand is related to alleged non-payment of service tax. Shree Cement disagrees with the findings and intends to appeal before the appropriate tribunal within the required timeline. The company does not expect any significant financial impact…

Latest StoriesRera

Telangana RERA Launches Grievance and Guidance Cell

HYDERABAD: The Telangana Real Estate Regulatory Authority (TG-RERA) has established a Public Grievance and Guidance Cell aimed at improving stakeholder engagement and enhancing grievance resolution mechanisms across the state. Launched on Thursday at the Administrative Staff College of India in Hyderabad, this initiative aligns with national discussions and the Ministry of Housing and Urban Affairs’ recommendations for better grievance handling. “The PGGC is designed to bolster grievance redressal and enhance engagement among stakeholders in the real estate sector throughout the state,” TG-RERA Chairman N Satyanarayana stated in an official press release. The Cell will provide guidance to stakeholders regarding their…

CommercialLatest Stories

NBCC sells ₹5,779 crore commercial space in Sarojini Nagar

NEW DELHI: NBCC has successfully completed the e-auction of commercial built-up space available on freehold basis at Bharat Business Park (BBP), Sarojini Nagar, New Delhi. A total of approximately 23.44 lakh sq ft of super built-up area was offered across eight towers. The auction generated a total sales value of about ₹5,779 crore, which reflects the highest bid rates for approximately 14 lakh sq ft auctioned across five towers. The average sale rate recorded during this e-auction was ₹41,207 per sq ft, marking an increase of ₹2,107 per sq ft (5% over the reserve price). The proceeds from this e-auction…

InfrastructureLatest Stories

Ahmedabad Penalizes Four Construction Sites for Violations

AHMEDABAD: On Thursday, the North Zone estate department of the Ahmedabad Municipal Corporation (AMC) imposed penalties ranging from Rs 25,000 to Rs 2 lakh at four construction sites located in Gota, Bodakdev, and Chandlodia for violating environmental regulations and worsening air quality. The Arambh Greens construction site in Chandlodia failed to install the required green net and encroached upon the roadway with materials, resulting in a penalty of Rs 50,000. Similarly, the Orium Zenith site in Chandlodia was fined Rs 50,000 for not having the green net in place. The Valenor site in Bodakdev faced a Rs 25,000 fine for…

InfrastructureLatest Stories

30+ buildings demolished for road expansion in Varanasi

Representative AI image VARANASI: On Thursday, significant portions of over 32 out of 41 buildings in the Baulia Lehartara area were demolished as part of the project for the six-lane Mohansarai-Cantt railway station road. Under strict security, a Public Works Department (PWD) team, led by Executive Engineer K.K. Singh, arrived with numerous earthmovers, bulldozers, loaders, and dumpers to begin the demolition. As part of the Rs 410 crore project, the work on the stretch from Mohansarai to Collectory Farm (Chandpur) is nearly complete. Despite serving eviction notices to building owners in 2025, the PWD had been unable to proceed with…

Latest StoriesResidential

Lucknow to Offer 630 Flats in Atalnagar Scheme

LUCKNOW: Homebuyers have another opportunity to purchase budget housing as registration for 630 flats under the Atalnagar scheme begins on April 18. Officials from the Lucknow Development Authority (LDA) announced that the online registration will be open until May 17, with allotments conducted via a lottery system. The available units consist of 539 one-bedroom and 91 two-bedroom flats at the Atalnagar project in Devpur Para, sized from 30 sqmt to 54.95 sqmt, with prices starting around Rs 9.82 lakh. According to officials, the project will feature essential amenities including water and electricity supply, lifts, power backup, security, green spaces, children’s…