Category: Latest Stories

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Latest StoriesResidential

Ashiana Housing to invest ₹750 crore in Gurugram project

Sure! Here’s a rewritten version of your content: NEW DELHI: Ashiana Housing is set to invest over ₹750 crore in its new residential project, Ashiana Aaroham, located in Sector 80, Gurugram. The funding for this project will come from internal accruals, support from the IFC, customer advances, and financing backed by ICICI Pru NCD. Covering an area of 10.8 acres, the land for this development is fully owned by Ashiana Housing, and it plans to construct 542 units across six towers. Phase 1 of the project will involve an investment of approximately ₹250 crore and will feature 182 units, with…

Latest StoriesResidential

Luxury Home Prices Surge 40% Since 2022 in Seven Cities

Representative image NEW DELHI: Luxury housing prices across India’s top seven cities have surged by an average of 40% since 2022, significantly outpacing other residential sectors due to persistent demand from high-net-worth individuals, as reported by Anarock Research. The average price for luxury homes (priced above ₹1.5 crore) rose from ₹14,530 per sq ft in 2022 to ₹20,300 per sq ft in 2025. The Delhi-NCR region experienced the highest increase, with prices jumping 72% from ₹13,450 per sq ft to ₹23,100 per sq ft. The Mumbai Metropolitan Region (MMR) and Bengaluru followed closely with increases of 43% and 42%, respectively.…

CommercialLatest Stories

Bhubaneswar: BMC to Survey Commercial Activities in Homes

BHUBANESWAR: As parking problems escalate in residential areas due to rising commercial activities, the Bhubaneswar Municipal Corporation (BMC) has decided to conduct an extensive survey across various wards to formulate plans for regulating parking and commercial operations. During a corporation meeting on Wednesday, BMC corporators expressed concerns over this mounting issue in the city’s lanes and by-lanes, prompting a lengthy discussion aimed at assessing the severity of the problem. “The parking situation is a major concern for the city, and we are actively seeking solutions. Initial discussions have taken place. Hospitals and similar institutions must collaborate to create adequate parking…

InfrastructureLatest Stories

GRAP Stage-3 Curbs Lifted in Delhi-NCR as Air Quality Improves

NEW DELHI: The Commission for Air Quality Management (CAQM) lifted the Stage-3 restrictions under the Graded Response Action Plan (GRAP) for Delhi-NCR on Wednesday, as air quality has improved over the past few days. The 24-hour average Air Quality Index (AQI) in Delhi was recorded at 327. Forecasts from the India Meteorological Department (IMD) and the Indian Institute of Tropical Meteorology indicate that the air quality is expected to remain in the “very poor” category. Nevertheless, the CAQM confirmed that measures under Stage-1 and Stage-2 of the revised GRAP, announced on November 21, will continue and will be closely monitored…

Latest StoriesRegulatory

Gurugram: Ornamental Realtors Hit with FIR Over License Issue

GURUGRAM: The district town planner (enforcement) has requested an FIR against a builder due to alleged violations concerning its commercial colony license in Sector 61. Ornamental Realtors Pvt Ltd’s license, which was valid for eight years, expired on August 26, 2017. The request for an FIR has been shared with high-ranking officials at both district and state levels, indicating the government’s commitment to closely monitoring licensed colony projects. Officials noted that Ornamental Realtors Pvt Ltd repeatedly failed to comply with various statutory obligations, leading the enforcement wing to refer the matter to the Haryana State Enforcement Bureau police. This action…

InfrastructureLatest Stories

Cabinet Approves ₹9,858 Crore Expansion for Pune Metro

NEW DELHI: On Wednesday, the government sanctioned the expansion of the Pune Metro rail network with an investment of Rs 9,858 crore, as announced by Information and Broadcasting Minister Ashwini Vaishnaw. The Union Cabinet, led by Prime Minister Narendra Modi, approved Line 4 (Kharadi-Hadapsar-Swargate-Khadakwasla) and Line 4A (Nal Stop-Warje-Manik Baug) as part of Phase-2 of the Pune Metro Rail Project. This marks the second major project under Phase-2, following the approval of Line 2A (Vanaz-Chandani Chowk) and Line 2B (Ramwadi-Wagholi/Vitthalwadi). With this update, the Pune Metro network will surpass the 100-km mark, a key advancement for the city’s push towards…

InfrastructureLatest Stories

Pune: PMRDA Delays Draft Town Plans Amid Villager Opposition

PUNE: The Pune Metropolitan Region Development Authority (PMRDA) has failed to meet its extended deadline for drafting plans for 15 town planning (TP) schemes along the 128-km inner ring road. A senior official indicated that the delay is largely due to ongoing opposition from villagers and unresolved issues concerning the long-delayed Maan–Mhalunge model TP scheme. The official deadline expired on Monday, and PMRDA officials confirmed they could not move forward because local residents were unwilling to relinquish their land. The main obstacle remains the state government’s inaction on the Maan–Mhalunge model TP scheme, which PMRDA initiated years ago. “If the…

Latest StoriesResidential

Mussoorie Development Body Issues Eviction Notices to 116 Families

DEHRADUN: The Mussoorie Dehradun Development Authority (MDDA) has served eviction notices to 116 families residing in Kathbangla colony, alongside the Rispana river, instructing them to vacate within 15 days or face demolition. This decision has stirred outrage among the residents, who accuse the authorities of conducting a disorganized and unjust relocation process. A protest is planned by the affected families for Wednesday afternoon. The notices state that this action is in accordance with the National Green Tribunal’s (NGT) directives, which mandate the identification and removal of structures on river floodplains. The civic body has indicated that eligible families will be…

Latest StoriesRegulatory

Bankruptcy Court Approves Ansal API Affiliate for Insolvency

The National Company Law Tribunal (NCLT) has initiated the corporate insolvency resolution process (CIRP) for Katra Realtors, following a petition filed by IL&FS Financial Services Ltd. Situated in Delhi, Katra Realtors had acted as a corporate guarantor for Ansal Properties and Infrastructure (Ansal API), which is presently undergoing insolvency proceedings. Ansal API has acknowledged liabilities exceeding Rs 571 crore, and IL&FS Financial Services sought recourse against Katra Realtors due to its corporate guarantee of approximately Rs 23 crore towards Ansal API. The NCLT division, comprised of judicial member Manni Sankariah Shanmuga Sundaram and technical member Atul Chaturvedi, ruled that concurrent…

Housing FinanceLatest Stories

Aviom India Housing’s Creditors to Pursue Swiss Challenge

MUMBAI: The committee of creditors (CoC) for Aviom India Housing Finance has opted to use the Swiss challenge mechanism for conducting an auction, as per sources familiar with the matter. PwC has been engaged to define the parameters for the competitive bidding process, with the e-auction date expected to be confirmed soon. “With the Swiss challenge mechanism selected, the CoC is set to invite competing bids, allowing any prospective investor to match or enhance the leading offer,” noted one source who wished to remain anonymous. “This transparent and competitive method is anticipated to maximize recovery for lenders. Once PwC establishes…