Category: Latest Stories

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IndustryLatest Stories

YEIDA extends FinTech hub application deadline

NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) has pushed back the application deadline for its planned 500-acre FinTech hub in Sector 11 near the Noida International Airport to April 29, from the previous April 2 deadline. Shailendra Bhatia, the authority’s additional CEO, explained that the deadline was adjusted to coincide with an upcoming financial summit aimed at attracting global investors and industry representatives. “We have moved the bid due date from April 2 to April 29, with the technical bid opening now set for May 1. This change is due to the Money Alpha 360° summit, which focuses on…

IndustryLatest Stories

A-khata Maze: High Costs, Delays in Bengaluru Approvals

BENGALURU: For thousands of property owners in the city, obtaining an A-khata remains a significant challenge, with only 818 properties receiving this designation in the past six months, according to official data. The process for converting B-khata properties into legally recognized A-khata properties was made public on October 15 last year. Despite there being an estimated 820,000 B-khata properties in Bengaluru, only 8,308 applications have been submitted, with only about 10% approved, leaving around 7,490 applications still pending. “The primary hurdle isn’t administrative delays but the lack of proper documentation from applicants. Many property owners do not have approved layout…

Latest StoriesRegulatory

Delhi court places ex-Reliance Group execs in ED custody for five days

NEW DELHI: A Delhi court has placed former senior executives of the Reliance Anil Ambani Group (RAAG), Amitabh Jhunjhunwala and Amit Bapna, in the custody of the Enforcement Directorate (ED) for five days as part of an investigation into a money laundering case linked to alleged bank loan fraud. The 24-page ruling noted that the ED uncovered allegations that loan funds were misappropriated and funneled to shell companies controlled by the group. The ruling also mentioned that emails recovered during the inquiry have “crystalized” the involvement of both individuals in the diversion of substantial loan amounts. The pair were arrested…

Latest StoriesRera

Bangalore body to pay ₹56L interest for Kempegowda delays

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-Rera) has instructed the Bangalore Development Authority (BDA) to pay ₹56 lakh in interest to complainant Mridula Krishnapur for delays in providing basic amenities at the Nadaprabhu Kempegowda Layout (NPKL). This decision marks a significant setback for the BDA, whose NPKL project was previously flagged as lapsed by K-Rera last year. The authority also determined that BDA qualifies as a ‘promoter’ under the Rera Act, holding it accountable for any delays and inadequacies. Mridula had purchased a site in the 8th Block of Sector-B of NPKL in Kengeri hobli for ₹96.9 lakh under…

Latest StoriesResidential

LG of Delhi Visits Swabhiman Apartments, Promises Quick Solutions

NEW DELHI: Lieutenant Governor Taranjit Singh Sandhu visited Swabhiman Apartments, a Delhi Development Authority (DDA) housing project in Jailorwala Bagh, Ashok Vihar, on Thursday. He engaged with residents to gain first-hand insights on living conditions, civic amenities, and maintenance issues. The visit was motivated by a commitment to citizen-centric governance. Post-interaction, the LG instructed relevant departments to prioritize addressing residents’ concerns, ensuring a safe, clean, and well-maintained living environment. Swabhiman Apartments is one of the flagship initiatives under the Prime Minister’s vision of “Jahan Jhuggi, Wahin Makan,” which aims to rehabilitate residents from jhuggi-jhopri clusters through in-situ redevelopment. Residents expressed…

IndustryLatest Stories

PropShare Celestia’s ₹244 Crore IPO Sees 1.33x Subscription

NEW DELHI: PropShare Celestia’s initial public offering (IPO) was 1.33 times over-subscribed on its closing day, Thursday. This marks the third Small and Medium Real Estate Investment Trust (SM REIT) launched by Property Share Investment Trust. The IPO, valued at Rs 244 crore, saw bids for 3,090 units compared to 2,323 units available, according to BSE data. In the other investors category, subscription was 4.81 times, while institutional investors subscribed only 17%. The price band for the issue is set at Rs 10-10.50 lakh per unit. This public offering consists solely of new units with no offer for sale. The…

Latest StoriesResidential

Housing Supply Rises 10%, Prices Up 14% in Q1 2026 Report

NEW DELHI: According to Magicbricks’ PropIndex report, India’s residential real estate market saw a 10.1% year-on-year increase in housing supply during Q1 2026. Property prices also rose by 14.1% across major cities. Active listings in 13 key cities increased by 6.8% from the previous quarter and 10.1% year-on-year, surpassing 1.1 lakh units during January-March. The average residential price has climbed to ₹14,633 per sq ft. However, demand exhibited a slight decline on a sequential basis, dropping 2.2% quarter-on-quarter. Annually, demand remained stable, with a 1.5% increase, totaling approximately 31.7 lakh units. At the city level, demand trends differed—Noida, Chennai, and…

Latest StoriesRegulatory

Lucknow Police Seizes ₹5.78 Crore in Real Estate Fraud Assets

LUCKNOW: The Lucknow Police have secured movable and immovable assets valued over Rs 5.78 crore under the Gangsters Act linked to a fraudulent real estate scheme that deceived individuals by selling nonexistent or disputed land, officials announced on Thursday. This operation was conducted in the Mohanlalganj region, led by Police Commissioner Amrendra Singh Sengar, as part of an ongoing crackdown against organized crime. The assets seized belong to alleged gang leader Pramod Kumar Upadhyay and his accomplice, Vinod Kumar Upadhyay, according to police statements. According to authorities, “The accused ran a sophisticated syndicate that attracted unsuspecting buyers with enticing offers…

InfrastructureLatest Stories

Illegal Colonies Pollute Ganga; Haridwar Seeks Irrigation Help

Representative AI image HARIDWAR: Illegal settlements along the Upper Ganga Canal in Haridwar are significantly contributing to pollution in the Ganga, with reports of residents dumping waste directly into the river. In areas such as Rajiv Nagar Basti and Sonia Basti, household waste and untreated sewage are being discharged into the water, exacerbating pollution levels. The issue was highlighted by a local councillor from Sonia Basti, who appealed to the Union Jal Shakti Ministry for assistance. Consequently, the municipal corporation has reached out to the Uttar Pradesh irrigation department, urging action against encroachments on canal land. The Upper Ganga Canal,…

IndustryLatest Stories

Chandigarh Plot Owners Demand FAR Parity for Converted Lands

CHANDIGARH: The Chandigarh administration is poised to raise the floor area ratio (FAR) for industrial plots in Industrial Area Phase 1 and 2. In response, the Chandigarh Industrial Converted Plot Owners Association has requested an increase in FAR, revisions to height norms, and a new policy framework for converted commercial plots. Back in 2005, under the Conversion Policy, approximately 125 industrial plot owners transitioned to commercial activities by paying substantial conversion charges, which ranged from Rs 20,000 to Rs 30,000 per square yard, adding around Rs 1,200 crore to the government’s revenue. Chander Verma, the president of the Chandigarh Industrial…