Category: Latest Stories

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IndustryLatest Stories

Bengaluru Body Shifts to Apartment Projects for Land Efficiency

BENGALURU: The Bangalore Development Authority (BDA) is shifting its focus towards apartment developments over large plotted layouts, emphasizing enhanced land-use efficiency in urban areas. This shift raises concerns about the future of the BDA’s traditional housing model centered around plots. According to officials, projects comprising apartments facilitate quicker housing delivery and prevent land fragmentation. “While discussions are ongoing and we don’t anticipate an abrupt change, there will be a noticeable trend towards apartments for more efficient land use. Basic housing needs should not always mean a 30×40 plot. We are conscious of the demand for plots, but our priority remains…

IndustryLatest Stories

EAAA Alternatives Secures ₹2,500 Crore for Real Assets Fund

Alternative asset manager EAAA Alternatives has successfully secured over Rs 2,500 crore with the final closing of its multi-strategy real assets fund, marking a significant milestone as the first diversified platform in India’s domestic alternative investment sector. The Infrastructure and Real Assets Fund, officially categorized as a Category II Alternative Investment Fund (AIF), starts with a base corpus of Rs 1,000 crore and includes a greenshoe option of Rs 1,500 crore. The fund aims to diversify investments across various real asset sectors such as energy, transportation, warehousing, and structured deals including private infrastructure investment trusts (InvITs), thus establishing itself as…

CommercialLatest Stories

Wipro Leases 145,000 Sq Ft Office in Navi Mumbai’s Mindspace

Representative Image Information technology services leader Wipro has secured a significant office space of 1.45 lakh sq ft at an IT park in Navi Mumbai via a long-term lease. This move highlights the ongoing demand for efficient Grade A offices in suburban business districts. The space is leased at Mindspace Airoli East from Mindspace Business Parks, with a lease agreement registered on December 29 for a total duration of 60 months. The agreement sets a starting monthly rent of approximately Rs 97.25 lakh, equating to around Rs 67 per sq ft. A security deposit of around Rs 5.83 crore was…

InfrastructureLatest Stories

Construction Halted in Bhubaneswar, Cuttack from 6 PM to 10 AM

BHUBANESWAR: To combat air pollution, Environment Minister Ganesh Ram Singkhuntia announced on Tuesday that all construction activities in Bhubaneswar and Cuttack will be prohibited from 6 pm to 10 am. The district collectors of Khurda and Cuttack have been tasked with enforcing this directive. “All forms of construction work, whether private or government, are suspended in the twin cities during this timeframe. The National Highways Authority of India (NHAI) and the state Works Department have been notified,” he added. The Bhubaneswar Development Authority (BDA) and Bhubaneswar Municipal Corporation (BMC) have taken measures to alleviate air pollution in the capital. BMC…

Latest StoriesResidential

Ideal Cures’ promoters purchase two Worli apartments for ₹190 crore

Representative image. Suresh Pareek and Veena S Pareek, founders of Ideal Cures, a maker of pharmaceutical excipients, have purchased two luxury apartments in the upscale Worli area of Mumbai for over Rs 190.1 crore. The purchase, featuring two adjacent units on the 43rd floor of a premium residential tower, was officially registered on December 24. This move highlights the ongoing demand for high-end large-format homes in south and central Mumbai. The two apartments boast a combined RERA carpet area of 12,114 sq ft, resulting in an average rate of approximately Rs 1.56 lakh per sq ft, ranking among the top…

Latest StoriesRegulatory

Gurugram: ED Seizes ₹50 Crore in Assets from Ocean Seven Buildtech

Representative image NEW DELHI: The Enforcement Directorate (ED) has seized a villa, a hotel, a resort, along with several land parcels and deposits exceeding Rs 50 crore as part of a money laundering investigation concerning a fraud involving homebuyers tied to Gurugram’s Ocean Seven Buildtech Pvt Ltd (OSBPL). The ED’s statement indicated that Swaraj Singh Yadav, the company’s promoter, was instrumental in orchestrating this fraudulent scheme by misappropriating funds gathered from homebuyers intended for housing construction. Yadav was arrested in November as part of the ongoing investigation. The assets seized include a villa, hotel, resort, multiple office spaces, and several…

IndustryLatest Stories

Lodha Developers’ Q3 FY26 Sales Up 25% to ₹5,620 Crore

NEW DELHI: Lodha Developers announced quarterly pre-sales of ₹5,620 crore for Q3 FY26, reflecting a 25% increase year-on-year. The company is on track to meet its annual pre-sales target of ₹21,000 crore. Collections for Q3 FY26 were ₹3,560 crore, which is lower compared to the same period last year due to unique inflows from significant land and office sales recorded in Q3 FY25. However, the company anticipates an increase in collections in the forthcoming quarters. During the quarter, five new projects were launched with a gross development value (GDV) of ₹33,800 crore across the Mumbai Metropolitan Region (MMR), NCR, and…

IndustryLatest Stories

Uttar Pradesh Cuts Rent Agreement Stamp Duty by 90%

LUCKNOW: The Uttar Pradesh Cabinet has approved new proposals allowing the registration of ancestral property partition deeds for a fixed fee of Rs 10,000. Additionally, the stamp duty and registration charges on rent agreements will be reduced by up to 90 percent. The State’s Minister of State (Independent Charge) for Stamp and Court Fee, Registration, Ravindra Jaiswal, shared this information during a press briefing after the Cabinet meeting led by Chief Minister Yogi Adityanath. The objective of these decisions is to alleviate family disputes, curtail informal agreements, and enhance legal security, thereby improving the ease of living in Uttar Pradesh,…

Latest StoriesResidential

One Arrested in ₹2 Crore PMAY Fraud with 100+ Victims

AHMEDABAD: Promised with no government forms or lotteries, more than 100 women from underprivileged backgrounds fell victim to a significant scam, losing over Rs 2 crore in total. The accused, Neel Madhav Patel, reportedly claimed to have direct access to housing allocations under the Pradhan Mantri Awas Yojana (PMAY). Sunita Bhandari, a 27-year-old domestic worker from Paldi, approached the city police commissioner to report how Patel deceived her. She claimed that she was not alone, with around 100 other female victims also affected. Based on her report, the Detection of Crime Branch (DCB) filed an FIR on Monday. Patel assured…

Latest StoriesRegulatory

Hyderabad Police Files Chargesheet in 19 Sahiti Infratech Cases

HYDERABAD: Central Crime Station (CCS) investigators have filed a chargesheet against 13 individuals in connection with 19 cases registered against Sahiti Infratech Ventures India Pvt Ltd in 2022. The CCS’s investigation covers a total of 57 cases against the company and its directors, with additional chargesheets expected after further investigation. On Monday, a team led by ACP KM Kiran Kumar, under DCP N Swetha’s supervision, submitted a 155-page chargesheet citing 294 witnesses to the metropolitan sessions judge in Nampally. This chargesheet includes the primary case registered at CCS on August 1, 2022, alongside 18 other re-registered cases linked to the…