Category: Latest Stories

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Latest StoriesResidential

Lucknow: 549 Plots Assigned in LDA’s IT City Scheme

Representative AI image LUCKNOW: The Lucknow Development Authority (LDA) organized a lottery draw for the distribution of developed residential plots to farmers and landowners who contributed their land under the land pooling policy for the IT City project. The draw took place on Monday at the Mars auditorium in Indira Gandhi Pratishthan, where applicants were invited to participate, and it was also streamed live on YouTube. LDA vice-chairman Prathamesh Kumar announced that the scheme is being developed on approximately 3,490 acres along Sultanpur road. Only landowners who signed agreements with the LDA by January 31 were included in the lottery.…

Latest StoriesRegulatory

Calcutta HC Cancels Builder’s Bail, Rejects ‘Sinful’ Protection

KOLKATA: The Calcutta High Court has revoked the bail granted to a builder involved in a cheating case by a lower court, stating that the liberty of an accused cannot be safeguarded by an order “born in sin”. Justice Uday Kumar noted that a bail order that is unsigned or partially initialed, lacks a rationale addressing the victim’s specific objections, and disregards witness intimidation history, constitutes a perverse ruling that the high court must annul. “This case showcases a troubling scenario where the liberty of the accused overshadowed the victim’s safety through an order that fails the fundamental requirements of…

IndustryLatest Stories

Pirojsha Adi Godrej Acquires 1.8% Stake in Arvind SmartSpaces

NEW DELHI: On Monday, Pirojsha Adi Godrej acquired nearly 1.8% of the stake in Arvind SmartSpaces, a real estate developer, for ₹40.7 crore from an HDFC Capital affiliate through an open market transaction. Pirojsha Godrej serves as the Executive Chairperson of Godrej Properties, Godrej Housing Finance, and is a Non-Executive Director at Godrej Consumer Products and Godrej Agrovet. According to block deal data from the BSE, Pirojsha Godrej purchased 8,17,530 shares, amounting to a 1.78% stake in the Ahmedabad-based company. The shares were acquired at an average price of ₹498 each, bringing the total transaction value to ₹40.71 crore. HDFC…

Housing FinanceLatest Stories

Truhome Finance submits ₹3,000-crore IPO application

NEW DELHI: Truhome Finance, backed by private equity firm Warburg Pincus, has submitted preliminary documents to the Securities and Exchange Board of India (Sebi) seeking to raise ₹3,000 crore through an initial public offering (IPO). The IPO consists of a fresh issue of equity shares totaling ₹1,500 crore and an offer for sale (OFS) of equity shares also valued at ₹1,500 crore from its promoter, Mango Crest Investment Ltd, as detailed in the draft red herring prospectus (DRHP). The funds raised from the fresh share issue will be used to strengthen the capital base to satisfy future funding needs, including…

Latest StoriesRera

UP-RERA fines Lucknow builders ₹2.43 crore for QPR delays

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has levied a fine of ₹2.43 crore on two Lucknow-based promoters for their repeated failure to upload mandatory quarterly progress reports (QPR) of their registered projects on the authority’s web portal. In one instance, promoter Shushil Kumar Katiyar of the Arpita Infinity project has faced penalties. This project, registered with a start date of July 10, 2024, and an expected completion by January 31, 2027, did not adhere to uploading the necessary progress reports despite receiving multiple notices from UP-RERA. Consequently, the authority sanctioned a fine of ₹16.25 lakh, which…

Latest StoriesResidential

Goa: 6 Months Jail, ₹10K Fine for Missing Tenant Records

Representative AI image PANAJI: The Goa government has approved the Goa (Verification of Tenants) Rules, 2026, initiating tenant verification within the state. Under these regulations, property owners are required to verify their tenants’ identities by collecting and examining relevant documents. Failure to comply may lead to imprisonment for up to six months and a fine of up to Rs 10,000. Similarly, the Goa police are tasked with maintaining records of inspections conducted during tenant verifications. The Goa (Verification of Tenants) Act, 2024, which came into effect in December 2024, aims to regulate the occupancy of individuals in residential properties not…

Latest StoriesResidential

Jaipur: 2,000 Sanganer Residents March to Save Homes

File Photo JAIPUR: Residents Protest Over Housing Uncertainty Nearly 2,000 residents from 87 colonies in the Sanganer area gathered for a protest march on Sunday, voicing their concerns regarding the future of their homes. This demonstration temporarily disrupted traffic on Tonk Road for approximately four hours. Many of these families have lived in the colonies for years, having purchased plots through registered cooperative societies and constructed homes with bank loans. Essential services, including water supply, electricity, roads, and sewer lines, have been established in the area over time. However, the situation has changed as the land was later included in…

InfrastructureLatest Stories

Jewar Airport Set to Open Soon, Says Civil Aviation Minister

NEW DELHI: The government announced on Monday in the Rajya Sabha that the Jewar airport in Uttar Pradesh has received its aerodrome license and will be inaugurated shortly. In response to questions about the Noida International Airport at Jewar during Question Hour, Minister for Civil Aviation, Kinjarapu Rammohan Naidu, stated that there is a typical timeframe of 45 days to two months from the issuance of the aerodrome license to the commencement of actual flight operations. “I’m pleased to share that the first aerodrome license has been granted by the DGCA following extensive consultations with institutions such as the Airport…

IndustryLatest Stories

Puravankara to Co-Develop Four Acres in Bengaluru

Representative Image NEW DELHI: Puravankara Group has commenced a joint development project on a four-acre land parcel located on Hennur Road in Bengaluru, with a projected gross development value (GDV) exceeding ₹1,300 crore. Ashish Puravankara, the company’s managing director, stated, “This joint venture is in line with our strategy of leveraging asset-light partnerships in high-potential micro-markets, while providing thoughtfully designed homes that meet the needs of modern urban living.” The land parcel offers a total saleable area of approximately 0.84 million sq ft, and the company anticipates launching it in the next six to twelve months. Earlier this year, Puravankara…

IndustryLatest Stories

Raymond Realty & County Group Launch ₹1,200 Cr Noida Project

NEW DELHI: Raymond Realty has finalized arrangements to co-develop a residential project in Kandivali, Mumbai, making it their seventh joint venture in the city. The project is projected to have a gross development value (GDV) of approximately ₹3,000 crore, bringing the total GDV of Raymond Realty’s real estate portfolio to nearly ₹43,000 crore. In a separate venture, County Group has launched a luxury residential project named Clove County in Sector 151, Noida, adjacent to the Noida-Greater Noida Expressway, with an investment exceeding ₹1,200 crore. The project spans five acres and will consist of 226 apartments across three towers. It will…