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IndustryLatest Stories

Arnya Real Estate Fund & Supreme Universal Raise ₹1,030 Crore

NEW DELHI: Arnya Real Estates Fund Advisors, in collaboration with Supreme Universal, has raised ₹1,030 crore from both domestic and international investors for its Arnya Real Estate Fund-Equity. Launched in November 2025 with a target corpus of ₹1,250 crore, the fund focuses on residential redevelopment projects in Mumbai. Sunny Bijlani, Joint Managing Director of Supreme Universal, remarked, “As the real estate landscape changes, the quality and structure of capital have become as crucial as execution capabilities. Institutional partnerships like this introduce discipline, transparency, and long-term alignment in redevelopment initiatives.” Published On Mar 9, 2026 at 11:00 AM IST Join the…

InfrastructureLatest Stories

Land Cleared for New Buildings at Damdama Basin, Aravalis

Representative AI image GURUGRAM: Significant alterations have been made to the land near Damdama Lake, including tree removal and the extension of an electricity line, to accommodate new buildings within this protected Aravalis zone. A 3km kuccha road has been created, running through the catchment area — a region safeguarded under the Punjab Land Preservation Act (PLPA) which prohibits non-forest activities. The road begins behind the Damdama Tourist Complex managed by the Haryana tourism department and traverses the lake basin, linking newly constructed concrete structures. Initially 1.5km long in 2021, the road has now expanded to 3km, despite previous efforts…

IndustryLatest Stories

BIS drops seismic zonation plan due to rising construction costs

Representative AI image NEW DELHI: Three months after the Centre declared a new seismic zonation for India that classified Zone 6 as the highest risk, primarily covering the Himalayan arc and designating almost 60% of the country in moderate to high-risk zones— the 2024 iteration of IS 1893, introducing stricter construction safety standards, has now been revoked. In a notable regulatory change, the previous standard, IS 1893 of 2016, is reinstated. A gazette notification dated March 3 from the Bureau of Indian Standards (BIS) confirmed that the earlier notification from November 6, 2025, regarding the updated IS 1893 of 2025,…

IndustryLatest Stories

Haryana Supports Uniform Land Nomenclature in Revenue Records

Representative Image CHANDIGARH: Haryana is enhancing transparency and accuracy in land administration. Dr. Sumita Misra, Financial Commissioner of the Revenue and Disaster Management Department, stressed the need for a uniform naming system for government lands in revenue records. During her address to officials on Sunday, Misra underscored that standardizing ownership and cultivation entries in jamabandi records will reduce confusion and improve governance. This initiative follows earlier directives from the Revenue and Disaster Management Department in January and July 2021 to streamline land ownership entries across state government, central government, boards, corporations, panchayati raj institutions, and urban local bodies. Misra pointed…

Latest StoriesRera

Odisha REAT Upholds Penalty on Promoter for Uncertified Flats

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has dismissed an appeal from a local promoter and upheld the Rs 3 lakh penalty for delivering flats in the Gadakana housing project without the necessary occupancy certificate (OC) and failing to secure registration from the Odisha Real Estate Regulatory Authority (ORERA). This ruling was issued on March 6. The tribunal affirmed ORERA’s March 4, 2024, directive, which penalized the promoter for breaching Section 3(1) of the Real Estate (Regulation and Development) Act, 2016, which stipulates that all eligible projects must be registered before any sales or promotions occur. The tribunal also…

IndustryLatest Stories

Karnataka bans conversion of plots under five guntas for farming

BENGALURU: The government has banned the conversion of land use for agricultural plots of five guntas or less, citing misuse of family partition rules. In a circular issued last month, the land survey department instructed deputy commissioners to identify such plots upon receiving land use conversion applications and to forward the files to deputy directors of land documents for further processing. The initiative follows the observation of a trend where landowners split farmland into smaller parcels, typically below 5 guntas, for easier registration, eventually selling them as revenue sites for profit. Many landowners sought permission to convert these small parcels…

IndustryLatest Stories

BMC Approves Geotech Experts for High-Rise Foundation Review

MUMBAI: In a pioneering move for urban local bodies in Asia, the Brihanmumbai Municipal Corporation (BMC) approved the empanelment of geotechnical and foundation experts through its high-rise committee (HRC) in January. This initiative aims for an independent assessment of high-rise building foundations to ensure that excavation and construction practices adhere to stringent safety standards. The new regulation mandates that buildings exceeding 180 meters must secure mandatory clearance from the HRC before advancing through key construction phases. This decision is in response to Mumbai’s increasingly vertical landscape, characterized by a growing number of super-tall towers being planned on densely packed urban…

Latest StoriesResidential

Homebuyers in Bengaluru Face Legal Woes Over Illegal Mortgage

BENGALURU: The illegal or undisclosed mortgaging of land related to apartment projects is raising alarms in the city, putting homebuyers at risk of enduring legal battles and financial instability. One notable case on Anekal-Chandapura Road sees residents of a 384-flat complex struggling for ownership rights after the developer allegedly mortgaged the land and several units without informing the buyers. According to an advocate actively engaged in the matter, “Under property regulations, when apartments are sold, the land and common areas should be handed over to a cooperative society or an association of apartment owners. However, governance shortcomings and delays in…

Latest StoriesResidential

Sort waste at home for 10% property tax rebate: Ghaziabad

GHAZIABAD: Responding to protests regarding property tax after a recent ruling from the Allahabad High Court, the Ghaziabad Municipal Corporation (GMC) has introduced a series of rebates to alleviate the burden on its residents. During a board meeting on Saturday, GMC members approved a 10% property tax rebate for housing societies, institutions, and residents who segregate their waste at the source. This decision aligns with the implementation of the Solid Waste Management Rules, 2026, effective from April 1. Municipal commissioner Vikramaditya Malik Singh stated that the civic body currently offers a 20% rebate for timely tax payments. Furthermore, additional rebates…

Latest StoriesResidential

Hyderabad Builders Tempt Buyers with Harleys, EVs, and Gold

Representative AI image HYDERABAD: In response to slow sales, various developers in Hyderabad are offering luxurious gifts to entice potential homebuyers. Options include premium motorcycles, 24-carat gold coins, electric vehicles, and complimentary interior upgrades. For example, one prominent developer is providing a Harley Davidson worth ₹3 lakh with bookings in selective high-demand areas such as Kokapet, Kukatpally, Uppal, Patancheru, and Rajendranagar. Another developer plans to offer electric vehicles valued at ₹8 lakh to clients of an upcoming residential project located between Uppal and Ramanthapur. Gold has also emerged as a favored incentive, despite its rising prices. A builder from Miyapur…