Category: Latest Stories

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Latest StoriesRera

Karnataka RERA Warns Builders About Project Updates

BENGALURU: In a significant move to protect homebuyer rights and promote compliance, the Karnataka Real Estate Regulatory Authority (K-RERA) has taken action against 155 promoters in the state for failing to submit their required quarterly reports. This crackdown serves as a stern warning to builders who do not provide timely updates on their projects. Promoters who do not comply may face penalties of up to 5% of the total estimated project cost along with Rs 25,000 for each quarter missed. However, the 155 builders have not yet been officially labeled as defaulters. A K-RERA officer stated, “If they do not…

IndustryLatest Stories

Haryana Assembly Approves Housing Board Merger with HSVP

CHANDIGARH: The Housing Board Haryana, a government housing entity active for 55 years, was officially dissolved on Friday after the Haryana Assembly sanctioned its merger into the Haryana Shehri Vikas Pradhikaran (HSVP). This occurred amidst symbolic resistance from opposition Congress leaders. This decision was made during the assembly’s first Budget session, where Chief Minister Nayab Singh Saini, who was also the minister in charge, introduced the merger resolution. Saini explained that the roles of the Housing Board and HSVP were largely similar and assured that the interests of the Housing Board employees would be protected. The government has been working…

Latest StoriesRera

Telangana RERA Cautions Developers on Pre-Launch Ads

HYDERABAD: The Telangana Real Estate Regulatory Authority (TG-RERA) has issued a warning to promoters, developers, real estate agents, and advertising channels regarding misleading pre-launch advertisements targeted at homebuyers, which lack valid TG-RERA registration. The authority stressed that enticing buyers or soliciting investments before obtaining formal registration is a direct violation of the Act. According to the Real Estate (Regulation and Development) Act, 2016, all real estate projects exceeding 500 sq m and apartments with more than eight units must be registered with TG-RERA. Developers can only advertise, market, or sell units after the Authority has thoroughly examined the project details…

Latest StoriesRegulatory

Bengaluru Authority Auctions 7 Properties Over ₹437 Crore Tax Dues

BENGALURU: If you haven’t settled your property tax dues with the Greater Bengaluru Authority (GBA), be cautious—you might lose your unit in a public auction. In a significant move against defaulters, GBA auctioned off seven properties within the East and North City Corporation limits on Saturday to recover longstanding tax arrears. Despite numerous notices and recovery efforts by the former BBMP and the five new corporations under GBA, many property owners still fail to make tax payments. With tax dues reaching ₹437 crore across nearly 7,000 units in the city, authorities have decided to resort to property auctions as a…

Latest StoriesRera

Rajasthan RERA: Banks can’t claim rights on allotted flats

JAIPUR: In a landmark ruling aimed at safeguarding homebuyers, the Rajasthan Real Estate Regulatory Authority (RERA) has determined that banks and financial institutions cannot assert claims over apartments booked to buyers prior to the establishment of a loan. The authority further stated that RERA proceedings may proceed against builders’ directors and landowners, even amidst insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). This decision was made by Rajasthan RERA chairperson Veenu Gupta on February 19 and was published on Saturday, relating to the Avalon Royal Park housing project located in Bhiwadi. The project, initiated in 2012 by M/s G…

Latest StoriesRegulatory

1,400 Illegal Properties to Be Demolished in Rajkot Drive

Representative AI image RAJKOT: A total of 1,489 illegal properties in Rajkot, Gujarat, are set to be demolished as civic authorities launched a major anti-encroachment campaign on Sunday, according to officials. Following instructions from Deputy Chief Minister Harsh Sanghavi, the Rajkot Municipal Corporation (RMC) initiated the demolition in the Jangleshwar area. The RMC, supported by police, will begin tearing down properties along the Aji River banks and on a municipal town planning road in Jangleshwar, as stated by Municipal Commissioner Tushar Sumera. The civic body commenced the process of vacating residents on Saturday, he added. Over 1,200 municipal officials and…

Latest StoriesRegulatory

NCLAT Orders Insolvency Withdrawal for Mahagun Settlement

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has ordered the withdrawal of insolvency proceedings against Mahagun Realty after the company reached a settlement with its financial creditor. A two-member bench of NCLAT acknowledged the settlement agreement between Mahagun (India) and IDBI Trusteeship, dated February 12, 2026. A request was submitted by the financial creditor to the NCLAT to retract the insolvency proceedings against Mahagun. “During the pending matter before this Adjudicating Authority, the parties have entered into a settlement agreement dated 12.02.2026. The Applicant/Financial Creditor wishes to withdraw IB-112(ND)/2025,” stated the NCLAT in its order. The NCLAT subsequently…

Latest StoriesResidential

BPTP Partners on 11-Acre Residential Project in Surajkund

NEW DELHI: BPTP, through its wholly-owned subsidiary Urban Realtech, has formed a joint development partnership with the landowner to create a residential group housing project on nearly 11 acres in Sector 39, Surajkund, Faridabad. Kabul Chawla, the chairman and managing director of the company, stated, “We believe this project has the potential to enhance our regional portfolio and deliver long-term stakeholder value.” The proposed project is set to encompass a developable area exceeding two million square feet. Published On Feb 22, 2026 at 05:00 PM IST Join a community of over 2M industry professionals. Subscribe to our newsletter for the…

InfrastructureLatest Stories

Activists to Protest Illegal Buildings at Belapur Hills, Feb 22

NAVI MUMBAI: Environmental organizations such as Save Belapur Hills Forum and NatConnect Foundation are urging for the immediate implementation of no-development regulations on the landslide-sensitive Belapur Hills. Activists plan to hold a ‘Human Chain’ awareness campaign at Mahakali Chowk near the CBD-Belapur bus depot on February 22. Their concerns arise from billboards in Belapur announcing a foundation day event, which is associated with a trust listed as an encroacher according to Cidco’s legal records. In an open letter, they highlighted Cidco’s prior attempt to commence demolition in July 2024 during the monsoon season, which they labeled as “cosmetic.” The efforts…

IndustryLatest Stories

Delhi circle rates to be updated for property market trends

NEW DELHI: The Rekha Gupta government is undertaking a thorough revision of circle rates across all property categories, ranging from A to H. This marks the first organized recalibration in years to align notified rates with current market trends. While premium colonies are set to experience a modest increase, there are steeper hikes proposed for mid- and lower-segment areas, where officials report that actual market transactions often exceed existing circle rates, based on an internal government report. Areas like Prithviraj Road, Jor Bagh, and Sundar Nagar are reportedly experiencing market values of at least Rs 18-22 lakh per square metre,…