Category: Latest Stories

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IndustryLatest Stories

Odisha Drafts Law to Simplify Land Management

Representative image BHUBANESWAR: The Odisha government is set to introduce a new land management law in the upcoming assembly session, aiming to replace multiple existing Acts related to land administration, as stated by Revenue and Disaster Management Minister Suresh Pujari on Monday. A consultative meeting regarding the proposed legislation, known as the Odisha Govt Land Management Act, was conducted on Monday. “The draft is ready, and we anticipate introducing the Bill during the next session of the Vidhan Sabha,” Pujari informed the media. The proposed law aims to replace outdated and overlapping revenue statutes with a more cohesive legal framework.…

Latest StoriesRegulatory

Idco Land Buildings Owe ₹72 Crore in Holding Tax

BHUBANESWAR: The Bhubaneswar Municipal Corporation (BMC) has determined that it expects to collect Rs 72 crore in holding tax from properties built on land owned by the Odisha Industrial Infrastructure Development Corporation (Idco). Following government approval last year, BMC will begin collecting this holding tax from Idco properties starting in the financial year 2025-26. Of the total Rs 72 crore, around Rs 32 crore is owed by educational institutions located on Idco land, according to civic body officials. Holding tax is crucial for strengthening the BMC’s financial resources. In addition to educational institutions, government and commercial establishments, as well as…

IndustryLatest Stories

Embassy Developments to invest ₹4,500 crore in Mumbai housing

NEW DELHI: Embassy Developments (EDL) is planning to invest about ₹4,500 crore to expand its presence in the Mumbai Metropolitan Region (MMR) with three residential projects in Worli, Juhu, and Alibaug. The total gross development value (GDV) of these three projects will exceed ₹12,000 crore, encompassing a combined carpet area of approximately 1.58 million sq ft. Project launches are anticipated to start in the fourth quarter of FY26. In Worli, EDL is set to develop an ultra-luxury residential project featuring a carpet area of around one million sq ft and an estimated GDV of over ₹8,800 crore. This development will…

InfrastructureLatest Stories

660+ construction sites still lack air quality monitors, BMC tells HC

Representative AI image MUMBAI: The BMC has informed the Bombay High Court that sensor-based air quality monitors have yet to be installed at 662 of the 1,954 ongoing construction sites within its jurisdiction. In response to a December 24 order from the court to provide status reports showing tangible improvements in Mumbai’s pollution levels, the BMC submitted a reply affidavit. According to Avinash Kate, chief engineer (environment and climate change), the BMC has activated its action plan for the next 15 days. The affidavit also mentioned that showcause and stop-work notices were issued at construction sites failing to comply with…

Latest StoriesRegulatory

Noida Techie Death: Developer Arrested, SIT Probe Launched

NOIDA: On Tuesday, authorities arrested the director of a real estate company regarding the tragic death of a 27-year-old software engineer. The victim’s vehicle had fallen into a water-filled pit at a construction site in Noida’s Sector 150. Officials confirmed that a Special Investigation Team (SIT) has begun its inquiry into the incident. Police arrested Abhay Kumar, the director of MZ Wiztown Planners and one of the accused, in Sector 150. According to Additional Commissioner of Police (Greater Noida) Hemant Upadhyay, he is currently in custody. The police had previously filed a First Information Report (FIR) for culpable homicide not…

IndustryLatest Stories

Noida Rejects Wiztown Planners’ Layout for Sports City Violations

NOIDA: In 2022, the Noida Authority rejected a modified layout from Wiztown Planners for the Sector 150 plot, where a 27-year-old software engineer tragically drowned last Saturday night. The Authority deemed the layout inconsistent with the integrated Sports City scheme, perceiving it as more of a commercial complex rather than a sports-oriented development. The 27,185 sqm plot, SC-02/A3, is a part of the Sports City project in Sector 150, which was designed over a decade ago to create cohesive districts emphasizing sports infrastructure. The planning guidelines stipulate that sports and recreational areas should dominate 70% of the land use, with…

Latest StoriesRegulatory

I-T Raids on 30 Ahmedabad Sites Linked to Builders’ Cash Deals

AHMEDABAD: The income tax (I-T) department conducted a search on over 30 locations linked to two builder groups. This action was undertaken after a decoy from the department confirmed that the builders were accepting part of the payment for real estate in cash. The searches included corporate offices, construction sites, suppliers, and homes of key officials and promoters, involving over 100 I-T officials, as per sources. “The builders have multiple schemes around SG Road and beyond, and they have been under surveillance since Diwali. Initial findings indicate transactions worth crores have been uncovered,” sources revealed, noting that the search began…

Latest StoriesResidential

Arkade to Invest ₹2,500 Crore in 5 Mumbai Projects by 2026

NEW DELHI: Arkade Developers is set to invest approximately ₹2,500 crore in the development of five residential projects across the Mumbai Metropolitan Region (MMR) in 2026. The projects are planned for Goregaon, Thane, Borivali, Malad, and Santacruz, collectively boasting a gross development value (GDV) exceeding ₹3,700 crore. The total developable area across these five projects will be 4.41 million sq ft, with a saleable carpet area estimated at around 1.4 million sq ft. The company is currently engaged in developing over 5.5 million sq ft of real estate and has delivered more than 650 residential units in FY25. Published On…

IndustryLatest Stories

RMZ Plans $10 Billion Investment in Andhra Pradesh Over 5-6 Years

NEW DELHI: RMZ has reached an agreement with the government of Andhra Pradesh for an investment of around USD 10 billion into mixed-use, digital, and industrial infrastructure across the state over the next five to six years. The collaboration was revealed at the World Economic Forum Annual Meeting 2026 in Davos. As part of this partnership, RMZ will establish a Global Capability Center at the Kapuluppada Phase-1 IT Park in Visakhapatnam, with a potential built-up area of up to 10 million sq ft over roughly 50 acres. Furthermore, a hyperscale data center cluster is planned for the Visakhapatnam area, aiming…

Latest StoriesRegulatory

SC Overturns HC Order for CBI Probe in Ambience Mall Case

NEW DELHI: The Supreme Court has annulled a Punjab and Haryana High Court order that mandated a CBI investigation into the alleged illegal conversion of residential land for the construction of the Ambience Mall in Gurugram, Haryana. Claims were made that 18.98 acres of land on the Delhi-Jaipur national highway, designated for the Ambience Lagoon Island Residential Complex, was reduced to 7.9 acres, with a commercial complex taking over the remaining land. The top court deemed the high court’s directive for the CBI to file an FIR as unnecessary, stating it was based on unverified and inconclusive evidence. Justices J.B.…