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IndustryLatest Stories

Signature Global invests ₹2,891 crore in Gurugram with Tonino Lamborghini

Representative AI image NEW DELHI: Signature Global (India) has formed a strategic alliance with the Italian lifestyle brand Tonino Lamborghini to launch a residential project in Sector 71, Gurugram, valued at approximately ₹4,000 crore. The project will cover around 12.4 acres along Southern Peripheral Road, offering 812 residential units in 3, 4, and 4.5 BHK layouts. The development cost is estimated at ₹2,891 crore, as stated in the company’s filing. The partnership will operate under a brand licensing agreement, where Tonino Lamborghini will provide design insights and lend its brand identity, while Signature Global will handle development, execution, and sales.…

InfrastructureLatest Stories

Lucknow civic body greenlights major projects, new Amausi township

LUCKNOW: The Lucknow Municipal Corporation convened a House meeting on Wednesday, unanimously approving several development proposals, including the construction of a township on 21.6 acres of land in Amausi. The LMC holds 41.6 acres in Amausi, with 20 acres designated as a shooting range. Plans were set to revamp this shooting range through public-private partnerships, while the remaining 21.6 acres will be transferred to the LDA for residential apartment development. The House also agreed to transfer 5,429.96 square meters of land in Jiyamau, returned by the Deendayal Upadhyay Seva Nyas, to the LDA for planned development. It was further resolved…

Latest StoriesResidential

Pimpri Chinchwad Residents Demand Action on Water Supply Issues

PUNE: Numerous housing societies in Pimpri Chinchwad are urging the civic authorities to take stringent measures against developers who have allegedly failed to provide water supply despite signed commitments. Residents referenced recent directives from the divisional commissioner, which cautioned builders against legal ramifications if they do not fulfill their water supply obligations until the municipal network is established. This issue was highlighted during a recent ward-level meeting held by the water supply department for A and K wards. The Chikhali-Moshi Pimpri Chinchwad Housing Societies Federation has insisted that developers promptly reimburse the costs incurred by residents for private water tankers…

Latest StoriesRera

Karnataka RERA Resolves Complaints on Kempegowda Layout Issues

BENGALURU: The Nadaprabhu Kempegowda Layout (NKPL) project has once again come under scrutiny from Karnataka Rera, as several allottees have lodged complaints against the BDA regarding delays in unit handovers. Unfortunately, these complaints were dismissed due to inadequate documentation. The situation arose when allottees requested refunds along with interest. Upon reviewing the claims, the authority noted that crucial documents—such as sale agreements, construction agreements, payment receipts, and account statements—were missing from the submissions. The authority emphasized the need for a thorough examination of contractual terms, payment records, commitments timelines, and any breaches. Without these documents, it cannot ascertain the exact…

Latest StoriesRegulatory

Bombay HC: Higher FAR Approvals Await Case Outcome

Sure, here’s a rewritten version of the content: PANAJI: On Wednesday, the Bombay High Court indicated that all approvals for additional Floor Area Ratio (FAR) and height granted by the Town and Country Planning (TCP) would hinge on the resolutions of ongoing petitions before the court. The court instructed that the TCP board must include a clause in these approvals, emphasizing that the applications would be contingent upon the outcomes of the petitions. Final hearings for these petitions, which challenge the amendments to the Goa Land Development and Building Construction Regulations from August 2023, have been scheduled for June 15.…

Latest StoriesResidential

Ladakh L-G Issues Renewed Lease Deeds to 79 Residents

File Photo LEH: On Wednesday, Ladakh Lieutenant Governor Vinai Kumar Saxena presented renewed lease deeds to 79 residents of the Housing Colony area in Leh, describing the act as a historic step towards securing their legal rights. According to an official spokesperson, the renewal of these lease deeds, which had been pending for years, will greatly benefit residents by providing them with legal ownership and tenure security. This renewal will also grant access to banking services, such as loans, simplify property transactions, and allow land to be sold at its market value, the spokesperson added. While addressing the first group…

Latest StoriesRegulatory

CBI Examines Ozone Projects, Bankers in Homebuyer Scam

CHENNAI: The Metrozone project in Koyambedu is now under investigation by the Central Bureau of Investigation (CBI) for alleged misconduct involving the subvention scheme and fraudulent actions toward homebuyers through a bank-developer collusion. The CBI’s economic offences wing in Delhi has filed a case against Ozone Projects Pvt Ltd, which is behind the Metrozone project, along with its promoters, directors, and unnamed officials from Axis Bank Ltd and Axis Finance Ltd, interpreting the situation as fraud and corruption as directed by the Supreme Court. The FIR indicates that Ozone Projects’ directors, currently undergoing the Corporate Insolvency Resolution Process (CIRP), allegedly…

Latest StoriesResidential

Agra: 3,000 Homebuyers Appeal for Help in Stalled Township

NEW DELHI: Over 3,000 homebuyers of Sushant Taj City in Agra, developed by Ansal Properties and Infrastructure Ltd, are requesting clarification from the Uttar Pradesh Government regarding the possession of plots they reserved nearly two decades ago. The buyers have urged the Chief Minister of UP to intervene, as this project was a joint venture between the Agra Development Authority and Ansal. “While most of the group’s projects are undergoing insolvency proceedings, this one has been excluded, possibly due to the government’s involvement. We have reached out to the authorities and the state government without any success. A new builder…

Latest StoriesResidential

Chhattisgarh Cuts Land Fees for Women to Boost Economic Empowerment

Sure! Here’s a rewritten version of the content: RAIPUR: The Chhattisgarh government announced on Wednesday a 50% reduction in land registration fees for properties registered in women’s names, aimed at promoting property ownership and empowering women financially. The cabinet also granted a 25% discount on stamp duty for active military personnel, veterans from the state, and their widows when purchasing properties valued up to ₹25 lakh within Chhattisgarh. This decision was made during a cabinet meeting led by Chief Minister Vishnu Deo Sai at the Mantralaya Mahanadi Bhawan in Nava Raipur Atal Nagar, according to an official statement. Fees for…

IndustryLatest Stories

Ashiana Housing Plans ₹800 Crore Land Acquisition in FY27

Representative AI image NEW DELHI: Ashiana Housing, a listed real estate developer focusing on senior living projects, plans to invest ₹800 crore for land acquisition across India in FY27, according to a senior executive. The sales value for bookings in senior living reached ₹570.15 crore in FY26—the highest ever for the company—marking the sale of 569 units over 7.37 lakh sq. ft. This is a significant increase from FY25, which saw ₹382.90 crore from 430 units and 5.41 lakh sq. ft. “We see a continuous demand for senior living housing, and we are actively searching for land. This year, we…