Category: Latest Stories

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Latest StoriesRegulatory

Haryana collects under 1% of ₹45 crore in environment fees

GURUGRAM: The Haryana government has levied over Rs 45 crore in environmental compensation (EC) on more than 400 industrial and commercial entities over the past three years. However, less than 1% of these penalties have been collected. Currently, Rs 44.87 crore remains unpaid, with only around Rs 42 lakh collected in response to penalties for various violations, encompassing illegal mining, dust emissions, unauthorized construction, and untreated wastewater discharge. The overdue EC stems from infractions reported from 2021 to 2024. Despite the limited recovery, many violators have either ceased operations, switched ownership, relocated, or contested the penalties, effectively hindering enforcement efforts.…

IndustryLatest Stories

Amaravati’s Buildings to Feature Unique Designs: AP CM

VIJAYAWADA: Chief Minister N. Chandrababu Naidu announced on Thursday that Amaravati is being developed into a creative city, characterized by unique architecture and lush greenery. While chairing the 55th CRDA Authority meeting, he highlighted that comprehensive studies on architectural standards have been completed for the capital, emphasizing the need for construction speed and quality to go hand in hand. The CRDA Authority approved key projects, including the construction of Lok Bhavan, a governor’s residence complex with a budget of Rs 169 crore. They also sanctioned a Rs 7,380 crore loan from NABARD for infrastructure development in Amaravati. Additionally, tenders worth…

IndustryLatest Stories

RBI Cuts Key Rate to 5.25% Amid Strong GDP and Low Inflation

MUMBAI: On Friday, the Reserve Bank of India announced a reduction of 25 basis points in the policy repo rate, lowering it to 5.25 percent. This decision was shared by RBI Governor Sanjay Malhotra following the conclusion of a three-day Monetary Policy Committee (MPC) meeting that took place from December 3 to 5. The Governor noted that the MPC conducted a comprehensive review of the changing macroeconomic landscape and future forecasts before reaching a unanimous agreement on the rate cut, which takes effect immediately. During the announcement, the Governor stated, “The MPC convened on December 3rd, 4th, and 5th to…

CommercialLatest Stories

Sonu Nigam Leases Mumbai Commercial Unit for ₹19 Lakh/Month

NEW DELHI: Sonu Nigam has rented a commercial space in Trade Centre BKC, Santacruz East, Mumbai, at a monthly rate of ₹19 lakh. The leased area spans 4,257 sq ft (395 sq meters). The transaction included a stamp duty of ₹3.27 lakh and a registration fee of ₹1,000, along with a security deposit of ₹90 lakh, as per property registration documents from the Inspector General of Registration (IGR) reviewed by Square Yards. The lease was officially recorded in December 2025. The lease agreement extends over five years. The rent is fixed at ₹19 lakh for the first year, escalating by…

Latest StoriesRegulatory

Mumbai Realty Firm and Directors Charged with ₹31 Crore Fraud

MUMBAI: A case has been filed against a real estate company and its two directors for allegedly defrauding 19 individuals of ₹31 crore by promising exorbitant returns on an investment in a redevelopment project, as reported on Thursday by officials. The Economic Offences Wing (EOW) of the Mumbai police is currently investigating the matter. A 71-year-old resident of Andheri East recently approached the authorities, accusing M/s Ranbeer Real Estate Developers LLP and its two directors of deceiving him and 18 other investors. The complainant stated to the police that the accused had guaranteed an annual return of 18% on the…

CommercialLatest Stories

Smartworks Leases 1.68 Lakh Sq Ft in Kolkata; 91Springboard Expands

Representative image NEW DELHI: Smartworks Coworking Spaces (Smartworks) has signed a lease for 1.68 lakh sq ft in Kolkata with a leading global provider of information technology, consulting, and business process services. The IT firm’s new office will be set across two locations, Victoria Park and Mediasiti, both situated in Salt Lake City, Sector V. The transaction was facilitated by JLL India as the advisory partner. Currently, the company manages a portfolio of 14 million sq ft across 14 cities. 91Springboard expands with over one lakh sq ft in Bengaluru and Chennai 91Springboard has introduced two new hubs: one in…

Latest StoriesRegulatory

Court Orders Seizure of ₹128 Crore in Uttar Pradesh’s 1st FEOA Case

Representative Image LUCKNOW: On Thursday, a special court ordered the confiscation of assets valued at approximately Rs 128 crore in connection with the fugitive economic offender proceedings initiated by the Enforcement Directorate (ED) against the Shine City Group based in Uttar Pradesh, along with its fugitive promoter, Rashid Naseem, accused of deceiving investors. Officials noted that this decision was made under the Fugitive Economic Offenders Act (FEOA) of 2018, marking the first case of asset confiscation via this mechanism in Uttar Pradesh. The ED will confiscate movable and immovable assets worth Rs 127.98 crore, which had been previously attached under…

Latest StoriesRegulatory

HC Resumes Building Violation Case; DLF 1-5 Owners Can Object

GURUGRAM: A pivotal development has emerged regarding the long-standing issues of illegal construction and the commercial misuse of residential properties in DLF 1 to 5. The Punjab and Haryana High Court has instructed the town and country planning department to gather objections from all plot and homeowners who received prior notices. Affected homeowners have until December 31 to submit their objections or representations to the enforcement office, with no submissions accepted past this date. With the case returning to the High Court, the town and country planning department is tasked with compiling objections and providing hearings for all affected homeowners.…

IndustryLatest Stories

Brookfield India REIT Initiates QIP for ₹3,500 Crore

NEW DELHI: Brookfield India Real Estate Trust is set to raise up to Rs 3,500 crore through the sale of units to institutional investors. On Thursday, the company initiated its Qualified Institutional Placement (QIP) issue to generate funds. Recently, unitholders of Brookfield India Real Estate Trust endorsed a proposal to secure funding through one or more institutional placements. According to a regulatory announcement, the issue committee of Brookprop Management Services Pvt Ltd, which manages Brookfield India REIT, has authorized the opening of the QIP issue on December 4, 2025, to start receiving bids. The panel also approved a floor price…

IndustryLatest Stories

DDA Faces ₹17,000 Crore in Liabilities, 34,000 Flats Unsold

Representative image NEW DELHI: As of March this year, the liabilities of the Delhi Development Authority (DDA) totaled approximately Rs 17,000 crore, the Lok Sabha was informed on Thursday. Union Minister of State for Housing and Urban Affairs, Tokhan Sahu, stated in a written response that the DDA has confirmed that all liabilities are paid promptly. The minister noted that no instances of mismanagement or administrative inefficiency have been observed within the land-owning agency. According to the data provided, DDA’s liabilities amounted to Rs 16,987.98 crore as of March 31, 2025. The agency also updated its housing inventory statistics in…