Category: Latest Stories

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Latest StoriesResidential

Gurugram: Four unsafe NBCC Green View towers to be demolished

GURUGRAM: The district administration has approved the demolition of four towers—A, B, C, and D—at NBCC Green View in Sector 37D, which were deemed uninhabitable four years ago. The deputy commissioner, Ajay Kumar, granted this permission after a comprehensive review, allowing for reconstruction once these structurally unsafe buildings—housing 580 flats—are removed. Officials noted that this decision was made to avoid any further delays that could endanger public safety. This approval comes after the National Buildings Construction Corporation (India) submitted a demolition request last September. A committee led by the additional deputy commissioner thoroughly evaluated the application. During discussions, the administration…

InfrastructureLatest Stories

NGT Requests Report on Four Encroached Ponds in Gurugram

GURUGRAM: The National Green Tribunal (NGT) has given the Haryana government two months to respond to a petition that claims encroachment on four ponds recorded in the city’s revenue documentation, one of which has a three-storey office built over it by a former municipal councillor. The petition, brought forward by activist Vaishali Rana, was heard by NGT’s principal bench on January 5. Justice Arun Kumar Tyagi led the bench, instructing the state and other involved parties to submit their responses within two months, detailing actions taken to comply with Supreme Court mandates for protecting and restoring ponds and village commons.…

Latest StoriesRegulatory

Karnataka Probes Infosys Land Sale for E-Khata Bypass

Karnataka’s revenue authorities have initiated an investigation into recent plot sale transactions, including one between Infosys and real estate developer Puravankara. The inquiry aims to identify any procedural deviations and determine subsequent actions. Revenue Minister Krishna Byre Gowda stated, “We have decided to expand the probe into transactions statewide,” in an interview with RealtyDailyNews. Inspector General of Registration (IGR) Mullai Muhilan has initiated this review following the discovery that five sub-registrars did not adhere to regulations. The authorities now mandate the submission of an e-khata, the digital version of a property’s official record, for property registration. The Kaveri 2.0 portal…

Latest StoriesResidential

Home Buying in Ghaziabad Gets Costlier with Development Fee Hike

GHAZIABAD: The UP government has increased the development fee in Ghaziabad by more than 66%, marking the highest rise compared to other districts. This increase primarily targets developers, yet it is likely to affect homebuyers as well, leading to higher prices for plots and flats across the district. The revised rates are included in the UP-amended Urban Planning and Development (Assessment, Levy and Collection of Development Fee) rules and will officially take effect pending approval from the Ghaziabad Development Board. GDA assistant engineer Rudresh Shukla stated that the development fee has been raised from Rs 2,500/sqm to Rs 4,170/sqm. “Compared…

Latest StoriesResidential

Himachal Pradesh Promotes Eco-Friendly, Affordable Housing

SHIMLA: The Himachal Pradesh government is focused on promoting systematic development to ensure affordable and eco-friendly housing options that suit the state’s mountainous geography, as stated by Urban Development and Housing Minister Rajesh Dharmani on Wednesday. Minister Dharmani chaired a review meeting of the Himachal Pradesh Real Estate Regulatory Authority (RERA). He emphasized that RERA is crucial in safeguarding consumer rights within the real estate sector and facilitating the resolution of property disputes. The authority ensures transparency by providing essential information about real estate projects to homebuyers, thereby bolstering their confidence, he added. Officials reported that there are currently 269…

Latest StoriesRegulatory

ED seizes ₹400 crore in assets linked to Jaypee Group fraud

NEW DELHI: The Enforcement Directorate (ED) announced on Wednesday that it has attached assets worth ₹400 crore linked to a trust associated with former Jaypee Infratech MD Manoj Gaur, as well as with Honeyy Katiyal, the promoter of leading housing brokerage Investors Clinic. This action, under the Prevention of Money Laundering Act (PMLA), is part of an investigation into Jaypee group companies—Jaypee Infratech Ltd (JIL) and Jaiprakash Associates Ltd (JAL)—involving allegations of large-scale fraud and misappropriation of funds collected from homebuyers of the Jaypee Wishtown and Jaypee Greens projects in Noida. According to the ED, a provisional order has been…

Latest StoriesResidential

2025 Residential Sales Steady at 3.48 Lakh Units in Top 8 Cities

NEW DELHI: Housing sales in the top eight Indian cities reached 348,207 units, reflecting a slight 1% year-on-year decline, according to a recent report from Knight Frank India. Despite the minor annual decrease, the total sales for the second half of the year stood at 178,406 units, the highest performance recorded for H2 since 2013. In 2025, new housing launches totaled 362,184 units, down 3% year-on-year, but still surpassed sales figures, demonstrating developers’ confidence in long-term demand. Shishir Baijal, Chairman and Managing Director, noted that the residential market is consolidating at elevated levels, driven primarily by genuine end-user demand rather…

Latest StoriesRegulatory

Jaipur Civic Body Seals Four Buildings for Tax Delinquency

Representative Image JAIPUR: On Tuesday, the Jaipur Municipal Corporation (JMC) sealed four properties in the Civil Lines zone due to outstanding urban development tax. Nine properties were reviewed for recovery, with five owners settling their dues immediately, resulting in approximately Rs 12 lakh collected. The four remaining properties were sealed in compliance with regulations. Civil Lines Divisional Commissioner Devanand Sharma stated, “During the operation, owners of five properties paid their outstanding dues. The attachment and sealing of the four properties followed the established rules. Efforts are ongoing to recover the pending amounts, together with applicable interest and penalties as set…

CommercialLatest Stories

Report: India Office Leasing Reaches 86.4 Million Sq Ft by 2025

NEW DELHI: India’s office market achieved a remarkable milestone in 2025, with gross leasing volumes soaring to an unprecedented 86.4 million sq ft, reflecting a 20% year-on-year increase, as reported by Knight Frank India. The annual leasing volume not only surpassed the previous high recorded in 2024 but also exceeded the pre-pandemic figure from 2019 by 43%. Bengaluru retained its status as the nation’s largest office market, with 28.7 million sq ft leased, marking an impressive 59% year-on-year growth. Following Bengaluru were Hyderabad (11.4 million sq ft), Delhi NCR (11.3 million sq ft), Pune (10.8 million sq ft), and Chennai…

Latest StoriesRegulatory

Ahmedabad collects impact fee for two homes on govt land

AHMEDABAD: Officials from the Ahmedabad Municipal Corporation (AMC) have faced allegations of collusion and irregularities from a co-operative housing society in Ghatlodia ward. Society members claim that AMC officials in the North West Zone improperly collected impact fees for two houses constructed illegally on government land, falsely attributing them to their society. On December 22, 2024, the society members submitted an appeal to the Appellate Authority in Gandhinagar under the Gruda Act, 2022. The appeal, initiated by Natwarlal Panchal along with eight other society members, states that impact fees were unlawfully charged in May 2024 for the two homes built…