Category: Latest Stories

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Latest StoriesRera

UP-RERA Delivers ₹2,040 Crore Relief, Resolves 11,300 Cases in 2025

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has successfully delivered ₹2,040 crore in relief to homebuyers through recovery actions, mutual settlements, and conciliation processes, addressing over 11,300 long-standing cases involving properties worth ₹5,920 crore by the end of 2025. A significant volume of complaints was submitted to UP-RERA benches under Section 31 of the RERA Act, mainly concerning delayed possession, refunds, and interest claims. Following hearings, recovery certificates (RCs) were issued against defaulting promoters, allowing district administrations to commence recovery procedures. Out of 6,018 RCs issued, ₹1,505 crore was recovered via legal enforcement and directly credited to…

Latest StoriesRegulatory

Telangana to Forensically Audit Land Deals in All Districts

HYDERABAD: The government has announced plans to carry out forensic audits throughout all districts to identify irregularities associated with the Dharani portal, following multiple violations uncovered in preliminary audits in Siddipet and Sircilla. Revenue Minister Ponguleti Srinivas Reddy stated on Saturday that those found exploiting the Dharani portal to illegally obtain government land and misappropriate registration revenues would face stringent action. He made these remarks during a high-level committee meeting at the Secretariat. “The state government has decided to conduct forensic audits across all districts to uncover irregularities linked to the Dharani portal. Several violations have already been identified in…

IndustryLatest Stories

Maharashtra links PMAY-Urban 2.0 to higher EWS prices

MUMBAI: The Maharashtra government has tightened the regulations under the Pradhan Mantri Awas Yojana (Urban) 2.0, requiring a minimum of 25% beneficiary registration before construction can begin or benefits can be accessed for certain affordable housing projects. This requirement applies to projects under the Affordable Housing in Partnership (AHP) and AHP-public private partnership (AHP-PPP) where the sale price of economically weaker section (EWS) homes exceeds the current annual statement of rates (ASR) by more than 20%. The updated guidelines, announced on January 23, were prompted by a review of detailed project reports (DPRs) submitted under PMAY (Urban) 2.0, which uncovered…

Latest StoriesRera

Delhi REAT Urges RERA to Resolve Builder Registrations in 30 Days

NEW DELHI: Delays in processing registration applications from builders and promoters have raised corruption concerns. Delhi’s real estate tribunal has instructed the Real Estate Regulatory Authority (RERA) to make decisions—either approve or deny—within 30 days of receiving applications. “The clear directive is that the Real Estate Regulatory Authority must address applications within 30 days of receipt, making decisions based on the merits. Protracted delays violate statutory timelines and can lead to accusations of corruption and malpractice, which can be mitigated by adhering to the law,” remarked the Real Estate Appellate Tribunal last week. The tribunal reviewed an appeal from the…

InfrastructureLatest Stories

Haryana Rights Body Acts on Illegal Gurugram Encroachments

Representative AI image CHANDIGARH: The Haryana Human Rights Commission (HHRC) has issued urgent directives to police and administrative authorities regarding illegal encroachments and the dumping of construction materials in a residential sector of Gurugram. While presiding over a complaint from the president of a residents’ welfare association in Sector 57, Gurugram, HHRC Chairperson Justice Lalit Batra took note of conflicting reports from various departments. The police indicated ongoing illegal supply and storage, while the estate officer from Haryana Shehri Vikas Pradhikaran (HSVP) claimed that encroachments had been cleared. The complainant presented recent photographs showing continued illegal activities on the site.…

IndustryLatest Stories

AIPL Acquires Gurugram Land for ₹1,000 Crore via Tribunal

Representative image Gurugram-based real estate developer AIPL has acquired a 43-acre site for ₹1,000 crore via the Debt Recovery Tribunal (DRT), enabling six banks to exit, according to a senior executive. This purchase is part of an 80-acre parcel in Sector 103 along the Dwarka Expressway in Gurugram. AIPL plans to expand its land bank by an additional 20 acres. “We aimed to undertake a township project, but securing large land parcels in a city like Gurugram is challenging,” stated Daljeet Singh, Managing Director of AIPL. “We anticipated difficulties in resolving numerous land-related issues, yet this also presents us with…

Latest StoriesRera

MahaRERA Orders Refund with Interest for Kalpataru Yashodhan

MUMBAI: The MahaRera has instructed the promoters of the Kalpataru Yashodhan project in Andheri West to refund over Rs 1.40 crore, along with interest at SBI’s highest Marginal Cost of Lending Rate (MCLR) plus 2%, to a couple who booked a flat worth over Rs 7.12 crore. The couple paid a total of over Rs 1.46 crore in 2017, with possession promised by December 2018. The couple, Hina and Sanjay Choksi, represented by advocate Dharmendra Damani, argued that the promoters failed to provide possession within the stipulated time and forfeited the entire payment made by them in February 2020, despite…

CommercialLatest Stories

Morgan Stanley Leases Brookfield’s Ecoworld for ₹23 Crore

BENGALURU: Morgan Stanley Advantage Services has secured nearly 160,000 sq ft of Grade-A office space at Ecoworld business park in Bengaluru, committing to a five-year lease at an annual rental rate of around Rs 23 crore. The lease takes effect from January 10, with the office expected to be operational by May. The property is managed by Arliga Ecoworld Business Parks. This deal highlights Morgan Stanley’s ongoing expansion in India and the sustained demand from BFSI sector occupiers for premium spaces in Bangalore’s most prestigious office area along the Outer Ring Road. According to lease rental documentation from Propstack, “Morgan…

Latest StoriesResidential

Karnataka CM’s Housing Drive to Uplift Slum Dwellers

HUBBALLI: Karnataka Chief Minister Siddaramaiah announced on Saturday that his government is actively working to provide housing for slum dwellers, aiming to integrate them into mainstream society. Speaking at a significant event marking the dedication of 42,345 houses out of a total of 1,80,253 being constructed under the Pradhan Mantri Awas Yojana ‘Shelter for All’, the Chief Minister handed out house allotment letters and title deeds as part of the Slum Development Board’s golden jubilee celebrations. Reflecting on his previous term, he noted, “During my first tenure as Chief Minister from 2013-18, our Congress government constructed 14,58,000 houses, leading a…

InfrastructureLatest Stories

Aarvee to Create Master Plan for Hathras Urban City

NOIDA: The Yamuna Authority (YEIDA) has engaged Aarvee Engineering Consultants Limited, based in Telangana, to develop a master plan for the nearly 4,000-hectare Hathras Urban City. This blueprint will guide the city’s development for the next two decades, extending to 2041. Aarvee Engineering was chosen through a competitive bidding process, quoting Rs 1.25 crore for their services. The firm is expected to complete the project within nine months from the start date, excluding final statutory approvals. The process will begin with an inception report within 15 days, followed by assessments of existing conditions, vision planning, draft master plan preparation, stakeholder…