Category: Latest Stories

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Latest StoriesRegulatory

SC: Surging Real Estate Disputes in Delhi, Mumbai Affect Builders

NEW DELHI: The Supreme Court expressed its concerns on Friday regarding the increasing number of homebuyer cases in Delhi-NCR and the re-development projects in Mumbai, noting its adverse impact on the reputation of real estate developers. A bench consisting of Justices J.B. Pardiwala and P.B. Varale was addressing a dispute related to the re-development of a Mumbai housing society. They remarked that the scale of real-estate disputes is alarming in both Delhi-NCR and Mumbai. “This real estate issue is quite serious in these areas. In Delhi-NCR, countless homebuyers are impacted by housing projects, while Mumbai faces challenges with re-development initiatives.…

Latest StoriesRegulatory

Mormugao Seals Two Banks Over Rent Defaults

VASCO: On Thursday, the Mormugao Municipal Council (MMC) sealed the branches of a public sector bank and a private bank due to unpaid rent. “The private bank branch in town and the public sector bank branch at Mangor Hill were sealed for failing to meet their rent obligations,” stated MMC chairperson Girish Borkar to TOI. The private bank owed Rs 6 lakh, while the PSU bank had an outstanding amount of Rs 3 lakh. This recovery effort was led by MMC chief officer Siddhivinayak Naik, in collaboration with municipal engineers and inspectors. “MMC is committed to taking strict measures against…

Latest StoriesResidential

OSHB, BDA Allocate 1,600+ Plots in Bhubaneswar

BHUBANESWAR: The Odisha State Housing Board (OSHB) and the Bhubaneswar Development Authority (BDA) have collectively allocated over 1,600 plots and homes under various housing schemes in the capital over the past thirty years. In response to a question from legislator Manorama Mohanty, state housing and urban development minister Krushna Chandra Mahapatra shared this information in the assembly. The OSHB has allocated 692 plots and houses in two significant schemes. Among these, 460 units under MIG and HIG categories were distributed in the Satyasai Enclave scheme at Mouza Aiginia, while 232 HIG units were granted under the Dharma Vihar scheme at…

IndustryLatest Stories

Smartworld Developers Buys 6 Acres in Noida for ₹414 Crore

Representative AI image NEW DELHI: Gurugram-based Smartworld Developers has successfully acquired a 24,000 sq. meter (approximately six-acre) land parcel in Sector 98, Noida, through auction for ₹414 crore. The estimated development cost of the project is around ₹2,000 crore, with a projected revenue of approximately ₹3,000 crore. The company plans to develop a mixed-use project featuring branded residences, high-street retail, and serviced homes. The company reported ₹6,400 crore in sales for FY25, marking an impressive 60% year-on-year growth. They have delivered 6.5 million sq. ft. of space, with another 20 million sq. ft. currently under development. With assets under management…

Latest StoriesResidential

Ahmedabad: 11 Tenements Sealed for Illegal PGs in Thaltej

Representative AI image AHMEDABAD: Authorities sealed eleven tenements at Soham Row Houses in Thaltej for allegedly running paying guest (PG) accommodations without proper authorization from the Ahmedabad Municipal Corporation (AMC). The AMC had previously issued notices to these units, urging them to obtain the necessary permissions. However, compliance was not met, leading the estate TDO department in the North West Zone to seal three tenements on December 3 and eight on December 4. Earlier this year, a BJP Rajya Sabha MP called for legal action against unauthorized PG units during a coordination meeting with MPs and MLAs chaired by the…

IndustryLatest Stories

RBI Cuts Repo Rate to 5.25%, Boosting Real Estate Growth

NEW DELHI: The Reserve Bank of India (RBI) has cut the policy repo rate by 25 basis points to 5.25%, indicating a shift towards monetary easing as inflation stabilizes at multi-year lows. This decision was made unanimously by the Monetary Policy Committee (MPC) during its 58th meeting held from December 3-5, 2025. With this rate cut, the standing deposit facility (SDF) rate is now at 5.00%, while the marginal standing facility (MSF) rate and the Bank Rate have been set to 5.50%. The MPC has also opted to maintain a neutral stance going forward. Growth Outlook Remains Strong India’s GDP…

Latest StoriesRegulatory

NKDA Sends Notices to 37 New Town Buildings in Kolkata

Representative image KOLKATA: The New Town Kolkata Development Authority (NKDA) has issued stop operation notices to the owners of 37 residential buildings in New Town for illegally operating hotels and guest houses without the required permissions. According to the list of buildings receiving these notices, 19 are situated in various blocks of New Town Action Area I, while 18 are in Action Area II. Officials reported that these residential premises were functioning as guest houses, hotels, and banquet halls without the necessary approvals from relevant authorities. “These operations violate a notification from the state urban development department issued in 2015,…

Latest StoriesResidential

Rajasthan Halts ‘Patta’ Registrations Amid Long-ignored Issues

JAIPUR: In a significant step to regulate real estate practices, the state government has halted the registration of properties associated with housing society “pattas.” This informal documentation has been the source of countless complaints, legal disputes, and negative audit findings over the years. Sub-registrars are now forbidden from registering plots issued by private housing or cooperative societies, a regulation that experts believe should have been enacted a decade ago. The prohibition aims to address the rise of unauthorized colonies, particularly in Jaipur’s outskirts like Ajmer Road and Kalwar Road, where societies have been selling plots without valid land-use conversions or…

Latest StoriesRegulatory

Nashik Collects ₹196 Crore in Property Tax This Fiscal Year

NASHIK: The civic body has reported an 8% increase in property tax collections for the first eight months of the financial year 2025-26, totaling Rs 196 crore from April 1 to December 4, compared to Rs 181 crore during the same timeframe last year (2024-25). According to officials from the Nashik Municipal Corporation (NMC), the Cidco division led the collections with Rs 42.8 crore, followed by Panchavati at Rs 39.3 crore, Nashik East at Rs 33 crore, and Nashik West at Rs 30.7 crore. The remainder of the collections originated from Nashik Road and Satpur divisions. NMC set a property…

IndustryLatest Stories

Amfi May Label REITs as Equity in January 2026 Rejig

MUMBAI: According to Nuvama Alternative & Quantitative Research, Knowledge Realty Trust (KRT), Embassy Office Parks, Mindspace Business Parks, Nexus Select Trust, and Brookfield may be classified under equity categories in the upcoming reclassification by the Association of Mutual Funds in India (AMFI) scheduled for January 2026. Recently, the Securities and Exchange Board of India (SEBI) redefined Real Estate Investment Trusts (REITs) as ‘equity-related instruments’ to encourage greater participation from mutual funds. If REITs are moved to the equity categories by the mutual fund industry body, KRT and Embassy may be categorized as mid-caps, while Mindspace, Nexus, and Brookfield could be…