Category: Latest Stories

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IndustryLatest Stories

Co-developers greenlit to revive stalled projects in Greater Noida

Representative AI image NOIDA: The Greater Noida Authority has facilitated the revival of two stalled group housing projects by approving co-developers in accordance with the Uttar Pradesh government’s rehabilitation policy. With these recent approvals, a total of nine stalled projects in Greater Noida can now bring on co-developers. During a recent board meeting, the Authority granted in-principle approval for Birla Estates to join as a co-developer for Nobal Buildtech’s stalled project in Sector 10. Additionally, Floral Homes was approved as a co-developer for the housing project in Sector 1 under Gayatri Hospitality & Realcon. The SWAMIH Investment Fund has pledged…

Housing FinanceLatest Stories

Carlyle Group Negotiates Majority Stake in Nido Home Finance

Carlyle Group Inc. is negotiating to acquire a majority stake in an Indian home mortgage company as it aims to increase its investments in the country’s financial services sector, according to sources familiar with the situation. Carlyle is looking to make an initial investment of $300 million in Mumbai-based Nido Home Finance Ltd., which is owned by Edelweiss Financial Services Ltd. These discussions are ongoing and not yet finalized. If successful, Carlyle would join Blackstone Inc. and Sumitomo Mitsui Financial Group Inc. in capitalizing on India’s thriving housing finance sector. Earlier this year, Carlyle divested its long-time investments in PNB…

IndustryLatest Stories

Apartment Owners Urge Update to Karnataka Law

BENGALURU: The Bangalore Apartments Federation (BAF), representing over 1,400 Resident Welfare Associations (RWAs), has issued a firm ultimatum to the State Government, demanding the introduction and enactment of the Karnataka Apartment Ownership and Management Act (KAOMA) during the upcoming Belagavi Assembly Session on December 2. BAF advocates for the rights of more than 350,000 households and around 1.5 million residents, stressing the urgent need to update the outdated Karnataka Apartment Ownership Act of 1972. They argue that this update is crucial to mitigate the administrative disarray and legal disputes stemming from unclear ownership and management rights. At a press conference…

InfrastructureLatest Stories

Telangana CM Requests Hudco Loans for Metro and Future City

Representative AI image HYDERABAD: On Monday, Chief Minister A. Revanth Reddy urged Housing and Urban Development Corporation (Hudco) Chairman Sanjay Kulshrestha to provide loans at reduced interest rates for critical developmental projects in Telangana, including the proposed Bharat Future City on the outskirts of Hyderabad. Kulshrestha met the CM at his residence and was asked to assist with funding for projects like the expansion of the Hyderabad Metro Rail, Future City, the Indiramma housing program, Regional Ring Road, and radial road networks. Revanth also informed the Hudco chairman about upcoming greenfield road projects that will connect Future City to Chennai…

Latest StoriesResidential

NBCC to Revamp Unsafe Tulsi Niketan Flats in Ghaziabad

GHAZIABAD: The National Buildings Construction Corporation (NBCC) has been appointed to manage the long-anticipated redevelopment of Tulsi Niketan, which has been classified as an ‘unsafe’ colony for almost six years. On Monday, a new Memorandum of Understanding (MoU) was signed with the Ghaziabad Development Authority (GDA), designating NBCC as the project management consultant responsible for overseeing construction in the housing complex. According to GDA Secretary Rajesh Kumar Singh, the redevelopment will occur in two phases under a Public-Private Partnership (PPP) model, with an expected completion timeline of three years. Constructed by the GDA in the 1990s on 7.8 hectares, the…

Latest StoriesRera

Haryana RERA Orders Builder to Compensate Buyer 11% Interest

GURUGRAM: The Haryana Real Estate Regulatory Authority (H-RERA) has ordered Godrej Real View Developers to pay a compensation of 10.8% per annum to a couple from Lucknow for the delayed possession of their flat in Godrej Meridien-I, located in Sector 106. This decision, made by member Ashok Sangwan, follows a complaint from Malik Ram and Sarita Verma of Gomti Nagar, Lucknow. They approached H-RERA under Section 31 of the Real Estate (Regulation and Development) Act, 2016. H-RERA dismissed the builder’s claims regarding Covid-19 and pollution-related construction bans as force majeure events, highlighting that these do not justify the delay beyond…

IndustryLatest Stories

Reforms Boost DDA’s ₹1,500 Crore Plot E-Auction: Delhi Raj Niwas

NEW DELHI: The reforms implemented by Lt Governor V.K. Saxena have significantly increased the revenue of the Delhi Development Authority (DDA). The recent e-auction of plots has yielded bids that exceed the reserve price by more than double, according to a statement from Raj Niwas on Tuesday. The DDA received a total of ₹1,494.67 crore in bids against a reserve price of ₹629.19 crore for 81 plots encompassing residential, commercial, industrial, institutional, and group housing categories, auctioned from November 21 to 27. The industrial sector played a pivotal role, with 41 plots attracting the highest bids of ₹272.39 crore, which…

Housing FinanceLatest Stories

Bajaj Housing Finance Promoter Sells 2% Stake for ₹1,588 Cr

Representative AI image NEW DELHI: On Tuesday, Bajaj Finance Ltd, a key promoter of Bajaj Housing Finance, sold a 2% stake for ₹1,588 crore via an open market transaction. As per the bulk deal information from the National Stock Exchange (NSE), Bajaj Finance Ltd divested 16.66 crore shares, equivalent to a 1.99% stake in Bajaj Housing Finance. The shares were sold at an average price of ₹95.31 each, bringing the total transaction value to ₹1,587.86 crore. Following this transaction, Bajaj Finance’s stake in Bajaj Housing Finance has reduced from 88.70% to 86.71%. The identities of the buyers of Bajaj Housing…

IndustryLatest Stories

Omaxe repays ₹80 crore loan to SWAMIH fund

Representative AI Image NEW DELHI: Realty firm Omaxe Group has repaid ₹80 crore in loans, including interest, to the government-backed stress fund, SWAMIH. Omaxe announced on Tuesday that it had fully repaid the loans secured from the SWAMIH fund for projects in New Chandigarh and Prayagraj. The SWAMIH (Special Window for Affordable and Mid-Income Housing) fund had approved ₹168.80 crore for ‘The Lake’ project in New Chandigarh and ₹60.40 crore for the ‘Omaxe Shiva’ series in Prayagraj. Omaxe stated that against the total sanctioned amount, it only drew ₹70 crore but repaid approximately ₹80 crore, including interest. In New Chandigarh,…

CommercialLatest Stories

Bengaluru to Add 25M Sq Ft Office Space in H2 FY27: ICRA

NEW DELHI: Bengaluru is set to see approximately 25 million sq ft of new office space coming online in the latter half of FY27, with about 25% already pre-leased. Despite a forecast of 16-17 million sq ft of new space for FY26 and FY27, occupancy rates are expected to reach 91-91.5% by March 2026 and 92-92.5% by March 2027, driven by ongoing leasing activity, according to ICRA’s latest report. In FY25, the city reported 16.3 million sq ft of fresh Grade-A office supply, alongside 8.4 million sq ft in H1 FY26, compared to net absorption figures of 18.4 million sq…