Category: Latest Stories

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Latest StoriesResidential

Ladakh L-G Issues Renewed Lease Deeds to 79 Residents

File Photo LEH: On Wednesday, Ladakh Lieutenant Governor Vinai Kumar Saxena presented renewed lease deeds to 79 residents of the Housing Colony area in Leh, describing the act as a historic step towards securing their legal rights. According to an official spokesperson, the renewal of these lease deeds, which had been pending for years, will greatly benefit residents by providing them with legal ownership and tenure security. This renewal will also grant access to banking services, such as loans, simplify property transactions, and allow land to be sold at its market value, the spokesperson added. While addressing the first group…

Latest StoriesRegulatory

CBI Examines Ozone Projects, Bankers in Homebuyer Scam

CHENNAI: The Metrozone project in Koyambedu is now under investigation by the Central Bureau of Investigation (CBI) for alleged misconduct involving the subvention scheme and fraudulent actions toward homebuyers through a bank-developer collusion. The CBI’s economic offences wing in Delhi has filed a case against Ozone Projects Pvt Ltd, which is behind the Metrozone project, along with its promoters, directors, and unnamed officials from Axis Bank Ltd and Axis Finance Ltd, interpreting the situation as fraud and corruption as directed by the Supreme Court. The FIR indicates that Ozone Projects’ directors, currently undergoing the Corporate Insolvency Resolution Process (CIRP), allegedly…

Latest StoriesResidential

Agra: 3,000 Homebuyers Appeal for Help in Stalled Township

NEW DELHI: Over 3,000 homebuyers of Sushant Taj City in Agra, developed by Ansal Properties and Infrastructure Ltd, are requesting clarification from the Uttar Pradesh Government regarding the possession of plots they reserved nearly two decades ago. The buyers have urged the Chief Minister of UP to intervene, as this project was a joint venture between the Agra Development Authority and Ansal. “While most of the group’s projects are undergoing insolvency proceedings, this one has been excluded, possibly due to the government’s involvement. We have reached out to the authorities and the state government without any success. A new builder…

Latest StoriesResidential

Chhattisgarh Cuts Land Fees for Women to Boost Economic Empowerment

Sure! Here’s a rewritten version of the content: RAIPUR: The Chhattisgarh government announced on Wednesday a 50% reduction in land registration fees for properties registered in women’s names, aimed at promoting property ownership and empowering women financially. The cabinet also granted a 25% discount on stamp duty for active military personnel, veterans from the state, and their widows when purchasing properties valued up to ₹25 lakh within Chhattisgarh. This decision was made during a cabinet meeting led by Chief Minister Vishnu Deo Sai at the Mantralaya Mahanadi Bhawan in Nava Raipur Atal Nagar, according to an official statement. Fees for…

IndustryLatest Stories

Ashiana Housing Plans ₹800 Crore Land Acquisition in FY27

Representative AI image NEW DELHI: Ashiana Housing, a listed real estate developer focusing on senior living projects, plans to invest ₹800 crore for land acquisition across India in FY27, according to a senior executive. The sales value for bookings in senior living reached ₹570.15 crore in FY26—the highest ever for the company—marking the sale of 569 units over 7.37 lakh sq. ft. This is a significant increase from FY25, which saw ₹382.90 crore from 430 units and 5.41 lakh sq. ft. “We see a continuous demand for senior living housing, and we are actively searching for land. This year, we…

CommercialLatest Stories

Office Vacancy Drops to 13.85% in Q1 2026: Report

Representative AI image NEW DELHI: According to a report by Cushman & Wakefield, India’s office market vacancy rate has dropped to 13.85% in the January-March quarter of 2026, falling below 14% for the first time since the pandemic. This decline is attributed to robust demand from occupiers and limited new supply. Vacancy levels decreased by 48 basis points quarter-on-quarter and 191 basis points year-on-year, marking the eleventh consecutive quarter of decline. The reduction in vacancy was largely due to consistent leasing across various sectors and a decline in new completions, which fell to 8.8 million sq ft in Q1 2026,…

IndustryLatest Stories

Brigade Group to Jointly Develop 8.63 Acres in East Bengaluru

Representative AI image NEW DELHI: Brigade Group has entered into a joint development agreement (JDA) for an 8.63-acre site in Gunjur, East Bengaluru. This is part of a larger 39-acre development primarily aimed at creating a substantial residential township, estimated to have a gross development value (GDV) of around ₹7,200 crore. The township’s overall land acquisition is being executed through a mix of outright purchases and joint development agreements, with the recent signing of the 8.63-acre JDA marking an important step forward for the larger master-planned project. BCV Developers, a subsidiary of Brigade Group, has signed a deal with Hyatt…

Latest StoriesResidential

Civic Body Sends Tax Bills for Demolished EWS Homes

SURAT: Residents of the 700 homes demolished in Pragya Nagar at City Light find themselves in a perplexing situation. The Surat Municipal Corporation (SMC) is demanding property tax for properties it had demolished a year ago. Residents received eviction notices for redevelopment two years back, which led to their gradual relocation. Although the evacuation took place, SMC continued collecting property tax for two years, even for land where no structures remained. Pragya Nagar, a colony designed for economically weaker sections (EWS), contained 44 buildings with 16 flats each, accommodating approximately 3,000 residents. Many have since moved to rented homes without…

Latest StoriesResidential

Eviction Notice for Seven Dharavi Slum Settlements Before Rains

MUMBAI: Residents of nearly seven slum settlements in Sector 6 of Dharavi have received eviction notices to vacate before the onset of the monsoon or the start of the next academic year. This land, located on Matunga railway property, is set for rehabilitation buildings as part of the Dharavi Redevelopment Project (DRP). DRP officials, part of a special purpose vehicle, stated that prompt cooperation from residents will facilitate timely construction and minimize disruption for those living nearby. Notices have been dispatched to approximately 3,500 households, as the cleared land will make way for ten rehabilitation buildings designed to accommodate 11,000…

Latest StoriesResidential

Ludhiana Trust Holds Lottery for 179 Atal Apartment Flats

LUDHIANA: On Tuesday, the Ludhiana Improvement Trust (LIT) conducted a draw for the final 179 flats under the Atal Apartment scheme, coinciding with the Baisakhi festival. Local bodies minister Sanjeev Arora was present at the event held at Nehru Sidhant Kendra, where LIT chairman Tarsem Bhinder assured successful allottees that they would receive possession of their flats by the end of this year. Bhinder reported that construction at the site in Karnail Singh Nagar on Pakhowal Road is progressing rapidly. He noted that the Trust has received 571 applications for 43 high-income group (HIG) flats and 963 applications for 136…