Category: Latest Stories

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Latest StoriesRegulatory

Bengaluru Court Freezes Site Over Alleged Forged Land Docs

BENGALURU: The Land Grabbing Prohibition Special Court has issued a temporary injunction halting construction work by a well-known builder in Chikkabanahalli village, Bidarahalli Hobli, Bengaluru East Taluk. The court also instructed the Deputy Commissioner of Bengaluru Urban and the Bengaluru East Taluk Tahsildar to provide a status report. The injunction was granted based on a complaint by social activist Paramesh, who alleged the builder encroached on government land and pathways using a fraudulent document purportedly issued by the Deputy Commissioner of Bengaluru Urban. The court’s order stated: “We issue a temporary injunction against Respondent No. 1 and any related parties,…

Latest StoriesRegulatory

NGT Stops Pune Project Over Noise and Dust Violations

PUNE: The National Green Tribunal’s Western Zone Bench in Pune has ordered a halt to construction activity at a residential project in Baner after the Maharashtra Pollution Control Board (MPCB) reported several violations concerning dust, noise, and construction waste norms. The tribunal issued this directive while addressing a petition from the Supreme Pallacio Cooperative Housing Society against a real estate LLP, which alleged significant pollution impacting the residents. The residents requested an interim injunction to stop construction until proper measures were taken to manage air pollution. The NGT reviewed the MPCB’s inspection report from July 15, which noted insufficient acoustic…

Latest StoriesRegulatory

ED Files Chargesheet Against Gurugram Realty Firm for PMAY Fraud

NEW DELHI: The Enforcement Directorate is anticipated to file a chargesheet soon against a Gurugram-based real estate firm and its promoters in a multi-crore money laundering inquiry linked to alleged discrepancies in the Pradhan Mantri Awas Yojna (PMAY) and fraud against homebuyers, official sources revealed on Sunday. Swaraj Singh Yadav, the Managing Director and “key person” of Ocean Seven Buildtech Pvt. Ltd. (OSBPL), was arrested by the federal agency on November 13 and is currently in judicial custody. The ED has accused Yadav of “fraudulently diverting” and laundering Rs 222 crore of homebuyers’ funds received under PMAY by canceling and…

IndustryLatest Stories

Critics: New Land Registry Rule Favors Big Builders in Rajasthan

Representative AI image JAIPUR: A new land registry rule introduced on Thursday by the urban development and housing (UDH) department has sparked significant backlash. Critics, including UDH officials and lawyers, claim that the regulation primarily favors large builders at the expense of smaller stakeholders and individual landowners. The controversial regulation requires that sale deeds cannot be registered without obtaining land conversion certificates, which change agricultural land into residential or industrial use. According to critics, for many small landowners—especially farmers—gaining these certificates from the Jaipur Development Authority (JDA) or other government agencies is nearly impossible. A senior UDH official remarked, “This…

Latest StoriesRegulatory

Himachal Assembly Sends Land Reforms Bill to Select Committee

DHARAMSHALA | SHIMLA: On Friday, the Himachal Pradesh Assembly referred the state’s Tenancy and Land Reforms (Amendment) Bill, 2025 to the Select Committee following discussions. The Bill was meant for discussion and passing on the final day of the Winter Session. BJP member Randhir Sharma proposed referring the Bill to a Select Committee. Chief Minister Sukhvinder Singh Sukhu supported the proposal, leading Speaker Kuldeep Singh Pathania to announce that the Bill would indeed be forwarded to the Select Committee, which will include members from both the ruling and opposition parties. This Select Committee will review the Bill and present its…

IndustryLatest Stories

Hyderabad’s HMDA earns ₹3,862 crore from record auctions

HYDERABAD: The land market in Hyderabad continues its upward trend, with the Hyderabad Metropolitan Development Authority (HMDA) completing four auction phases in the Neopolis and Golden Mile layouts, fetching a total of ₹3,862 crore and indicating strong investor confidence in the city’s growth sectors. In the final phase held on Friday, COEUS Education Management Private Limited acquired a 1.98-acre plot in Golden Mile for ₹77.75 crore per acre—₹7 crore above the starting price of ₹70 crore per acre. Since November 24, the HMDA has raised ₹3,862.8 crore from these auctions, demonstrating substantial market interest in premium, strategically located land across…

Latest StoriesRegulatory

Maharashtra Grants Legal Status to Digital Land Records

Representative AI image NAGPUR: On Thursday, the Maharashtra government officially recognized digitally signed 7/12, 8-A, and property card extracts, signifying a significant transformation in the state’s land administration. Revenue Minister Chandrashekhar Bawankule has instructed district collectors to treat these digital land records as legally binding for all governmental bodies, courts, banks, and registration offices, thereby eliminating a process that has long been hindered by bureaucracy, delays, and dependence on manual signatures. Effective immediately, citizens can download certified copies of their land documents online via the Mahabhumi portal for ₹15. These extracts are embedded with a digital signature, a scannable QR…

IndustryLatest Stories

Delhi civic body suggests no property tax hike for FY27.

NEW DELHI: On Friday, Ashwani Kumar, the Municipal Corporation of Delhi (MCD) commissioner, unveiled a budget estimate of Rs 16,531 crore for the fiscal year 2026-27, maintaining no increase in property tax rates or new taxes for the third consecutive year. The corporation highlighted a significant growth in both its taxpayer base and tax revenue this year. By September, the number of property taxpayers rose by 19.8% compared to last year, surpassing the 1.2 million mark. Tax collection saw a 30% increase, yielding Rs 2,270 crore from property tax by September, up from Rs 1,589 crore year-on-year. A major proposed…

IndustryLatest Stories

Gang and Builders Collude in ₹100 Crore Noida Loan Fraud

Representative AI image NOIDA: A gang was dismantled for colluding with builders to withdraw Rs 100 crore from banks through fraudulent loans. Eight members were arrested in connection with the scheme. Rajkumar Mishra, the additional superintendent of police at Noida STF, reported that the arrests stemmed from a tip-off by an HDFC Bank official who detected unusual loan activities. Investigations revealed that the gang forged property documents and identities to obtain home and personal loans from various banks. These fabricated identities were used to purchase property, with the funds laundered through a network of shell companies and accounts. The gang’s…

Latest StoriesResidential

Sanjali Bajaj Acquires Sea-View Apartment in Worli for ₹66 Crore

Representative AI image Sanjali Bajaj, the daughter of Bajaj Group scion Sanjiv Bajaj, has purchased a luxurious sea-view apartment in a tower on Dr. Annie Besant Road in Mumbai’s Worli area for ₹66.41 crore. The apartment, which spans a carpet area of 5,510 sq ft, is valued at over ₹1,20,500 per sq ft. It is located on the 5th habitable floor and features an exclusive balcony measuring 430 sq ft. The purchase includes two additional sections on the 8th podium level, totaling 1,360.89 sq ft and 14.20 sq ft, mainly for parking and ancillary purposes, as indicated in documents accessed…