Category: Latest Stories

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IndustryLatest Stories

Builders seek Bengaluru authority’s help to fix e-khata delays

BENGALURU: Builders in Karnataka are facing challenges with delays in property registrations and project handovers, attributed to e-khata and approval-related issues, even for projects that have already received occupancy certificates. Addressing these concerns, the Karnataka chapter of the Confederation of Real Estate Developers’ Associations of India (Credai) submitted a request to the GBA on Monday, urging immediate intervention to streamline processes. The challenges were highlighted at the South Con 2026 conclave on Friday, where Credai representatives from all five southern states discussed the ongoing delays. Developers pointed out that despite having project approvals, hold-ups in e-khata clearance and completion certificates…

CommercialLatest Stories

Ludhiana Residents Oppose Commercial Rezoning Plans

LUDHIANA: Residents from some of the city’s top neighborhoods are alleging that local authorities are sidestepping democratic norms in an expedited effort to transform tranquil residential streets into commercial areas. The Ludhiana municipal corporation has completed the “regularization” of commercial activities along significant corridors such as Hambran Road and Malhar Road, and is finalizing the rezoning of BRS Nagar main road. While the intention is to enhance municipal revenue, homeowners have reacted strongly, claiming that the process was shrouded in “total secrecy” to benefit illegal businesses. Accusations of procedural neglect J S Gill, a BRS Nagar resident and former member…

CommercialLatest Stories

Chronos Properties extends ₹148 crore bank guarantee for IL&FS office

NEW DELHI: Brookfield-backed Chronos Properties has successfully renewed a ₹148 crore bank guarantee, keeping its bid alive for the prime Bandra Kurla Complex property of Infrastructure Leasing and Financial Services (IL&FS). In an affidavit submitted to the National Company Law Appellate Tribunal (NCLAT), Chronos announced that on December 19, 2025, it provided three demand drafts totaling ₹148 crore to the registrar at the Mumbai bench of the National Company Law Tribunal. Previously, on December 5, NCLAT instructed Chronos Properties to renew its bank guarantee within a month to remain eligible as a bidder for the IL&FS Financial Centre at BKC,…

Latest StoriesRegulatory

PMLA Court Denies Jailed Director’s Request for Online Meetings

CHANDIGARH: In a significant ruling, the Special PMLA court in Gurgaon denied requests from Arvind Walia, an imprisoned director of Ramprastha Promoters and Developers Private Ltd, to conduct online meetings or manage professional responsibilities from jail. Walia is currently held in Gurugram jail after his arrest by the Enforcement Directorate (ED). Walia and fellow director Sandeep Yadav were taken into custody on July 21 last year, accused of defrauding over 2,000 homebuyers by collecting approximately ₹1,100 crore across various real estate projects, failing to deliver possession for over 14 years. Through his lawyer, Walia submitted applications to Judge Vani Gopal…

IndustryLatest Stories

Chandigarh Housing Board to Auction Land Parcels

Here is the rewritten content: — Representative Image CHANDIGARH: The Chandigarh Housing Board (CHB) is contemplating the auction of segments of its land holdings to private developers, indicating a departure from its primary focus on affordable housing. This proposal is still in its preliminary stages and has been a topic of repeated discussions among senior officials of both the administration and the board. Initially, two land parcels, each approximately 4-5 acres in size in Sector 54, could be offered for auction, though specifics such as reserve prices and terms remain undecided. This development has sparked renewed discussions about the board’s…

Latest StoriesRegulatory

Nashik Civic Body Boosts Property Tax Recovery for 2025-26

NASHIK: The municipal authority has decided to intensify its property tax recovery efforts to achieve the collection goal for the financial year 2025-26. Starting next week, new notices will be sent to property owners who failed to pay their dues during the four-month amnesty scheme that was active from September to December 2025. The Nashik Municipal Corporation (NMC) has set a property tax collection target of ₹275 crore for the fiscal year 2025-26. As of January 22, the civic body has collected only ₹212 crore, resulting in a remaining shortfall of ₹63 crore within the next two months. In contrast,…

IndustryLatest Stories

Andhra Pradesh Plans to Update Urban Land Values from Feb 1

Representative AI image VIJAYAWADA: The Andhra Pradesh government has announced a revision of land market values in urban areas, effective February 1. The registration department has been instructed to assess market values and finalize the new valuations promptly. This revision follows nearly a year after the last update in February. Officials revealed that this initiative aims to align the official market values with the current market conditions, as there have been noticeable discrepancies between guideline prices and actual transaction amounts across various urban, semi-urban, and rural regions. Each district will have an evaluation committee led by the joint collector, including…

Latest StoriesRegulatory

Noida Techie Death: Two Builders Arrested

NOIDA: Two builders were arrested by Noida police on Thursday in relation to the death of a software engineer who drowned when his car fell into a waterlogged trench near a construction site in Sector 150. “The detained individuals have been identified as Ravi Bansal from Faridabad and Sachin Karnwal from Ghaziabad,” a police official informed PTI. According to the official, both are affiliated with real estate developer Lotus Greens, though their specific positions have yet to be verified. The police made the arrests under Sections 105 (culpable homicide not amounting to murder), 106 (causing death by negligence), and 125…

InfrastructureLatest Stories

BMC Halts Work at 106 Sites for Missing Air Quality Monitors

MUMBAI: The Brihanmumbai Municipal Corporation (BMC) announced on Thursday that ‘stop work’ notices were issued to 106 construction sites for not installing mandatory air quality monitoring systems. The 106 projects affected include private developments, railway bridge construction in Sion, and activities by the Slum Rehabilitation Authority (SRA) in K East ward and the Maharashtra Housing and Area Development Authority (MHADA) in H East ward. “Despite multiple reminders since May 2025, many construction sites failed to comply with regulations, resulting in the immediate issuance of ‘stop work’ notices. This enforcement follows directives making air quality sensors obligatory for all ongoing projects,”…

Latest StoriesRegulatory

Techie’s Death: NGT Urges Noida Authority on Waterlogging Issue

NEW DELHI: The National Green Tribunal (NGT) has requested a response from the Noida Authority regarding alleged failures in stormwater management that resulted in waterlogging and the drowning of software engineer Yuvraj Mehta in Noida. The tribunal acted after taking suo moto notice of a news article covering the incident where Mehta’s car fell into a flooded trench in Sector 150. A bench comprising NGT Chairperson Prakash Shrivastava and expert member A Senthil Vel observed a report indicating that “Mehta misjudged a sharp turn and, due to fog, ended up in the trench. The area was initially designated for a…