Category: Latest Stories

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Latest StoriesResidential

Delhi CM promises to transform Bhalswa-Jahangirpuri EWS flats

File Photo NEW DELHI: On Tuesday, Delhi Chief Minister Rekha Gupta reaffirmed her government’s dedication to providing dignified housing for the underprivileged while inspecting the dilapidated EWS flats in Bhalswa-Jahangirpuri. She attributed the neglect of the complex to the previous administration. During her visit, Gupta expressed frustration with the prior government’s inability to fulfill their promises to the city’s lower-income residents. “The Bhalswa flats, which we are examining today, were completed in 2016. From then until 2025, the flats have fallen into disrepair, and not a single unit has been allocated to a poor family. This is a betrayal of…

IndustryLatest Stories

Andhra Pradesh to Regularize ‘Sada Bainama’ Land Deals

Representative AI image VIJAYAWADA: The long-awaited resolution for land rights may soon materialize for millions of farmers in the state. The government has decided to regularize the decades-old ‘Sada Bainama’ agreements and issue land titles to these farmers. Previously, informal handwritten sale agreements known as Sada Bainama were commonly used in rural areas, based on mutual trust. However, land ‘owners’ could not secure title deeds or pattadar passbooks, as revenue and registration departments did not acknowledge their claims in the absence of formal documentation. Revenue Minister Anangani Satya Prasad stated, “The Sada Bainama transactions, which lacked registration, have significantly impacted…

Latest StoriesResidential

Centre Sanctions 1.11 Crore Homes Under PMAY Schemes

NEW DELHI: The government has approved the construction of 1.11 crore houses under two schemes of Pradhan Mantri Awas Yojana, with 95.54 lakh of these homes already completed and allocated to beneficiaries, Minister of Housing and Urban Affairs, Manohar Lal, reported in the Rajya Sabha on Monday. While addressing supplementary questions during the question hour, the minister mentioned that a 2020 slum survey revealed that approximately 6.5 crore individuals, equating to 1.39 crore households, reside in slums nationwide. “Under both schemes, 1.11 crore houses have been approved, and 1.10 crore have been initiated, with 95.54 lakh houses completed and handed…

Housing FinanceLatest Stories

Home Loans Rise 14%, Buyer Growth Only 7% in Gujarat

AHMEDABAD: While Gujarat’s housing finance numbers are on the rise, homebuyer sentiment remains stagnant. According to SLBC data for the September 2025 quarter, housing loan disbursements have increased by 14% year-on-year, climbing from ₹14,266 crore to ₹16,264 crore. However, the number of borrowers has only grown by 7%, from 95,532 to 1.02 lakh. This disparity highlights a healthy flow of credit but a lack of purchasing momentum, particularly among mass-market buyers. Banking sources indicate that most lending occurs in major cities such as Ahmedabad, Vadodara, Surat, and Rajkot. “Despite substantial lending activity, there is a notable decline in demand for…

Latest StoriesRegulatory

Hyderabad: Flat Owners Must Base Maintenance on Size

HYDERABAD: The Ranga Reddy District Consumer Commission has determined that the Saket Pranaam flat owners’ association cannot impose a uniform maintenance fee for all residents. Instead, fees must be calculated based on each flat’s square footage. This ruling stemmed from a complaint by SL Narasimha Rao, a studio-flat owner, who argued that it was inequitable for smaller units to pay the same maintenance charge as larger ones. Rao, whose flat spans 445 to 702 sq ft, challenged the association’s decision to impose a fixed fee of Rs 2,500 per month, which was later raised to Rs 3,500 following an extraordinary…

Latest StoriesResidential

Kochi Apartment Owners Request Relaxation on STP Installations

KOCHI: The Consortium of Flat and Villa Owners Association, Kerala (COFVOAK), has approached Chief Minister Pinarayi Vijayan to request relaxed regulations for installing sewage treatment plants (STPs) in apartment complexes built before 2007. They are also seeking exemptions due to the planned centralized sewerage system in Kochi. The consortium is urging the government to provide appropriate directives to the pollution control board (PCB) and the Kochi corporation to prevent the cancellation of occupancy certificates (OCs) or disconnection of essential services to these buildings. Additionally, they are requesting that these complexes be exempt from retrospective PCB consent fees, suggesting the fees…

Latest StoriesRera

Karnataka RERA Chair: Reject Subpar Services, Citizens!

BENGALURU: Rakesh Singh, chairman of the Karnataka Real Estate Regulatory Authority (K-RERA), has warned citizens not to allow promoters to deceive them when purchasing real estate. He emphasized that they should not tolerate subpar services and can reach out to his organization for assistance in case of issues. Singh highlighted the significance of the Real Estate (Regulation and Development) Act, 2016, stating that it marked a pivotal change in India’s property landscape by providing buyers with a legal framework to safeguard their interests. He made these remarks at the RWA Excellence Seminar organized by Nemmadi.in in Bengaluru on Saturday, which…

IndustryLatest Stories

Larsen & Toubro Unifies Real Estate Division as L&T Realty

NEW DELHI: The board of directors at Larsen & Toubro (L&T) has approved the transfer of its real estate business (Realty BU) to L&T Realty Properties, a fully-owned subsidiary, through a slump sale as part of an arrangement scheme. This initiative initiates a gradual consolidation of L&T’s real estate assets under L&T Realty. N Subrahmanyan, Chairman & Managing Director of L&T, stated, “L&T Realty must operate independently. It needs to consistently grow its project pipeline through proactive land acquisitions and joint ventures. This demands regular capital infusions, making it vital to unify all our real estate operations under one corporate…

InfrastructureLatest Stories

Assam to Transfer 992 Acres to AAI for Silchar Airport

Representative AI image GUWAHATI: On Sunday, the Assam government announced the transfer of 3,000 bighas (approximately 992 acres) at Doloo Tea Estate in Cachar district to the Airports Authority of India (AAI) for the development of a new greenfield airport, as articulated by Chief Minister Himanta Biswa Sarma. During a press conference following a cabinet meeting, Sarma revealed that the allocation has increased by 500 bighas from the prior commitment of 2,500 bighas (826.45 acres) for the planned airport near Silchar. “The cabinet has sanctioned the transfer of 3,000 bighas at Doloo Tea Estate to AAI for a greenfield airport,”…

IndustryLatest Stories

Omaxe Pays Back Over ₹700 Crore Debt to Samman Capital

NEW DELHI: Omaxe Group has successfully repaid over ₹700 crore in debt to Samman Capital (formerly Indiabulls Housing Finance), ahead of schedule, utilizing project cash flows. Mohit Goel, the managing director of Omaxe, stated, “Our balance sheet is now even stronger, positioning us to consistently deliver quality developments and create value for all stakeholders.” The company has also settled loans from the Special Window for Affordable and Mid-Income Housing (SWAMIH) for two of its projects: The Lake in New Chandigarh and Omaxe Shiva, along with Shiva 2 and Shiva 3 in Prayagraj. These projects received last-mile credit facilities totaling ₹168.80…