Category: Latest Stories

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Latest StoriesRera

Karnataka RERA Recovery Cell Plan Canceled; Welfare Groups Disappointed

BENGALURU: A proposed cell aimed at streamlining the recovery of dues adjudicated by the state’s Real Estate Regulatory Authority (Rera) has been shelved, much to the dismay of homebuyers. Instead, the government has appointed a special deputy commissioner for Bengaluru Urban district to manage the recovery of outstanding amounts. Officials explained that discussions took place regarding the creation of a dedicated recovery committee, but the proposal was abandoned due to concerns about the committee’s lack of legal authority for enforcement. Currently, the ability to recover dues lies with individual district deputy commissioners, and agencies are limited to issuing recovery certificates…

Latest StoriesRera

Punjab RERA mandates ₹25 lakh payout for delayed possession

MOHALI: In a landmark decision, the Punjab Real Estate Regulatory Authority (RERA) has mandated a real estate promoter to pay approximately Rs 25 lakh in delay interest to homebuyers. The ruling states that project timelines should commence from the initial booking date, not from the date the sale agreement is executed. The complainants, who are faculty members at Punjab Engineering College, Sector 12, reported delays in receiving possession of their property. The case was represented by advocate M Shahnawaz Khan. In a crucial determination, RERA concluded that, since the initial booking occurred in 2018, the promoter could not sidestep responsibility…

IndustryLatest Stories

LIC Aims to Boost Real Estate Returns with New Subsidiary

NEW DELHI: LIC aims to enhance returns from its real estate assets and may consider establishing a separate subsidiary to manage these efficiently. Its real estate portfolio is conservatively valued at over Rs 60,000 crore. “Over the last 70 years, we have acquired substantial real estate, both inherited and purchased. We utilize these properties for company operations and as investments to generate returns,” said LIC CEO and MD R. Doraiswamy in an interview with PTI. This recent review of LIC’s real estate portfolio is part of a broader strategy to evaluate returns and identify optimisation opportunities. Our goal is to…

IndustryLatest Stories

Unitech Q4 FY26 Net Loss Grows to ₹441 Crore

NEW DELHI: Realty firm Unitech Ltd announced a consolidated net loss of Rs 441 crore for the quarter ending March 2026, compared to a net loss of Rs 309.95 crore in the same quarter last year. Total income increased to Rs 145.31 crore in Q4 FY 2025-26, up from Rs 126.34 crore in the previous year, as per a regulatory filing. Throughout FY26, the company’s net loss amounted to Rs 2,455.73 crore, an improvement from a loss of Rs 2,593.47 crore in the previous financial year. Total income for the year rose to Rs 566.80 crore, up from Rs 396.80…

IndustryLatest Stories

Creditors Recovered ₹4 Lakh Cr; ₹14 Lakh Cr Settled Pre-Admission

NEW DELHI: Creditors have successfully recovered over Rs 4 lakh crore through resolution processes enabled by the insolvency law, which has been operational for a decade. Additionally, more than 30,000 cases, totaling nearly Rs 14 lakh crore, have been addressed at the pre-admission stage before the National Company Law Tribunal (NCLT). The Insolvency and Bankruptcy Code (IBC), which was implemented in 2016, emphasizes a time-bound and market-linked approach to resolving stressed assets. “As of March 2026, 1,419 cases have generated resolution plans, leading to the realization of over Rs 4 lakh crore for creditors. This amounts to 95% and 167%…

Latest StoriesRegulatory

SC asks Centre, ED, RBI about plea on homebuyer fund misuse

NEW DELHI: The Supreme Court has requested responses from the Centre, ED, RBI, and other parties, including certain real estate firms, regarding a plea claiming that significant amounts collected from homebuyers in Noida and Yamuna Expressway projects were misappropriated. A bench consisting of Chief Justice of India Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi acknowledged the submissions by lawyer Prashant Bhushan, representing petitioner Vandana Sabharwal, and issued notices to the respondents due by July 15. The bench also called for responses from the Union ministries of Housing and Urban Affairs, Corporate Affairs, as well as Uttar Pradesh…

Latest StoriesRegulatory

Pune Police File FIR Against Runwal Group MD in Land Dispute

PUNE: On Thursday, Pune City Police filed an FIR against Subodh Runwal, Managing Director of Runwal Group, and six others, following a court directive linked to a land dispute in Viman Nagar, Pune. The FIR is lodged at Vimantal Police Station against Subodh Runwal, Ashutosh N Navare, Lucy Roy Chowdhury, MB Agarwal, and three others under various sections of the Bharatiya Nyaya Sanhita (BNS), as reported by officials. This action stems from a directive issued by Judicial Magistrate First Class Dr. DR Dornalpalle on May 16 under Section 175(3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS), instructing the police to…

IndustryLatest Stories

No Bidders for Ludhiana’s ₹197-Crore Ghost Complex

File Photo LUDHIANA: A 77-unit neglected property attracted no bidders at auction, extending an 18-year failure streak for the Ludhiana Improvement Trust (LIT), which had hoped for a valuation of ₹197 crore. The government-backed developer must now reevaluate the reserve price, while the 2.22-acre Rani Jhansi Road site remains an unappealing structure after local officials dismissed internal warnings about its excessive reserve price negatively impacting the sale. Local developers had previously shunned it, even with a reduced valuation of ₹154 crore under a prior administration. This inaccessibility has hindered the LIT’s latest revenue generation efforts. The prime commercial building has…

CommercialLatest Stories

Asia Pacific Real Estate Investments Up 19% in Q1 2026

NEW DELHI: Real estate investments in the Asia Pacific region surged by 19.2% year-on-year in Q1 2026, according to a report by Savills. This growth was driven by a positive shift in investor sentiment, a rebound in office transactions, and stronger cross-border capital flows, although activity was primarily focused on core markets and income-generating assets. Prime office investments saw a significant rise of approximately 25.7% year-on-year during this period, led by major cities like Tokyo and Singapore, where vacancies decreased and rents increased. Additionally, industrial and logistics properties continued to attract capital throughout the region, bolstered by demand from AI-driven…

InfrastructureLatest Stories

Hyderabad Faces Severe Groundwater Crisis: Report Reveals

Representative AI image HYDERABAD: Hyderabad has become India’s most severely affected metro in terms of groundwater depletion, according to the Dynamic Groundwater Resource Assessment Report 2025 published by the Union Ministry of Jal Shakti. It surpasses even Delhi and Mumbai, which are larger urban centers. Within Greater Hyderabad, 26 mandals and tehsils—areas which include parts of Rangareddy and Medchal-Malkajgiri districts—are categorized as “critical” or “over-exploited” in groundwater extraction, the highest of any major Indian city. For comparison, Delhi has 21 such units despite a population of 3.3 crore, nearly three times that of Hyderabad. Bengaluru, a city similar in size,…