Category: Latest Stories

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Housing FinanceLatest Stories

Ajai Kumar Shukla Appointed MD and CEO of PNB Housing Finance

India’s PNB Housing Finance has appointed Ajai Kumar Shukla as its managing director and CEO for a five-year term starting December 18, resulting in a 5% increase in the mortgage lender’s shares. Shukla brings over 30 years of experience in housing and mortgage lending and will take over from Girish Kousgi, who was instrumental in accelerating the company’s growth in the affordable housing sector, outperforming its competitors. The announcement comes as significant home financiers face growing challenges from banks in the luxury home lending market, while affordable housing has become more appealing due to higher yields and limited competition. Currently…

InfrastructureLatest Stories

DDA Demolishes Illegal Farmhouses in Sainik Farms, Recovers 4.5 Acres

NEW DELHI: On Friday, the Delhi Development Authority (DDA) conducted a demolition operation in Tilpath Valley, located in the Sainik Farms area of south Delhi, targeting illegal constructions on land designated for a biodiversity park. Officials confirmed that the demolished structures were not protected under the National Capital Territory of Delhi (Special Provisions) Act, 2014, which typically shields jhuggi jhopri (JJ) clusters from demolition. The action specifically took place on Khasra numbers 595, 596, and 620. During an initial phase of the operation on December 5, nine properties were identified by the DDA. Out of these, five properties—including two fully…

Latest StoriesResidential

AIPL to invest ₹987.25 crore in Dwarka Expressway project

NEW DELHI: AIPL, based in Gurugram, is set to invest ₹987.25 crore in the development of its residential project, Riviera, at AIPL LakeCity in Sector 103 along the Dwarka Expressway. As per the company’s filing with the Haryana RERA website, the project’s total estimated cost is ₹987.25 crore, which includes ₹183.72 crore for land acquisition and ₹456.54 crore for construction. Spanning 5.14 acres, Phase I of the project is projected to generate revenues of ₹1,500 crore. It will consist of two high-rise towers, each 43 floors tall, featuring 3 and 4 BHK units. The company has appointed Morphogenesis as the…

IndustryLatest Stories

Satya, Maple Group to Invest ₹1,600 Crore in Dwarka Project

NEW DELHI: The Satya Group and Maple Group have made a ₹1,600 crore investment to launch Levante Residences, a high-rise residential project located in Sector 104, Gurugram, adjacent to the Dwarka Expressway. This project will encompass five acres and consist of three towers, each with 47 floors, offering a total of 488 units. Apartment options include 3BHK, 4BHK, and 5BHK configurations, with prices starting at ₹2.96 crore. Construction is anticipated to begin in January 2026, with completion projected for 2030. The funding for this investment will be secured through promoter equity, ASK Fund, and internal cash flows, with expected sales…

Latest StoriesRegulatory

High Court Directs Haryana: Map Aravalis and Define Forests

GURUGRAM: The Punjab and Haryana High Court has directed the Haryana government to provide a clear and legally sound definition of the Aravali forest landscape in the state. The case will be revisited on January 9, 2026, during which the government is expected to submit an affidavit “mapping the exact area” of the Aravalis, in accordance with previous Supreme Court rulings and a recent apex court judgment from last month. The bench, comprising Chief Justice Sheel Nagu and Justice Sanjiv Berry, issued the directive on Tuesday while examining a public interest litigation initiated by activist Harinder Dhingra. They instructed Principal…

Latest StoriesRegulatory

NGT Extends Sand Mining Ban in Goa Rivers Until Next Month

Representative AI image PANAJI: The National Green Tribunal (NGT) has prolonged the ban on sand mining in Goa’s rivers until January 28, 2026. This decision follows an appeal by the Goa River Sand Protection Network against 12 environmental clearances issued by the state. This extension was prompted by a request from the Goa Coastal Zone Management Authority for additional time to respond during a December 8 hearing. The NGT’s ruling specifies that the “director of mines and geology shall not permit any mining activity in the area in question until the next hearing date.” The Goa River Sand Protection Network…

Latest StoriesResidential

Free Land Regularization for 70,000 Families in Marathwada

NAGPUR: On Thursday, approximately 70,000 families in Marathwada, including Chhatrapati Sambhajinagar and the Rajura area of Chandrapur district, experienced significant relief as the long-standing issue regarding ‘Madat Mash’ inam lands was addressed. The Legislative Assembly unanimously approved the ‘Hyderabad Inam and Cash Grants Abolition (Amendment) Bill, 2025′ (Bill No. 101). This legislation grants free regularization of residential houses built on these lands, providing full Occupant Class-1 ownership rights without any associated premium or nazarana. Revenue Minister Chandrashekhar Bawankule introduced the Bill, noting that under the 1954 Act, these lands were classified as Occupant Class-2 (new and impartible tenure), which limited…

InfrastructureLatest Stories

Vadodara demolishes 350 homes near Dashama Pond in Gorwa

Representative AI image VADODARA: The Vadodara Municipal Corporation (VMC) has demolished 350 homes near Dashama pond in the Gorwa area upon request from the Gujarat Housing Board (GHB). The demolition commenced on Wednesday with the destruction of around 200 dwellings, while the rest were removed on Thursday by civic teams. According to sources, most of the demolished structures were shanties occupied by laborers. Residents were asked to vacate just before the demolition, and despite some initial resistance, they ultimately agreed to relocate. GHB plans to develop a housing scheme on the site and sought VMC’s help for clearing the land,…

Latest StoriesResidential

Lucknow body to restart plot registrations on Mohan Road

LUCKNOW: The Lucknow Development Authority is set to restart registration for approximately 1,487 developed plots listed with UP RERA under the ambitious Anantnagar residential scheme along Mohan Road. Officials indicated that a proposal from the engineering division has been forwarded to the property department, and the registration dates will be announced shortly. The plots cater to middle and upper-income groups in various colonies, including Akash Khand, Aalekh Khand, Ashish Khand, Aabhas Khand, Alok Khand, Adarsh Khand, Aditya Khand, and Aamod Khand. In Sector-1, there are 617 plots, comprising 40 plots of 450 sq m, 211 plots of 288 sq m,…