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Latest StoriesRegulatory

PUDA Revokes Developer’s CLU Due to Land Ownership Issues

MOHALI: The Punjab Urban Development Authority (PUDA) has revoked the Change of Land Use (CLU) permission for 1.21 acres previously allotted to a private developer for an industrial park project in Mohali. This revoked land is part of a larger 56.53-acre area authorized for industrial development in the villages of Drari and Dhurali, Mohali tehsil. As stated in a public notice from the state directorate of town and country planning, the developer was initially granted CLU approval for 51.4 acres on August 29, 2018, with an additional 5.13 acres approved on January 29, 2019. The complete layout plan for the…

IndustryLatest Stories

ASK CLAF-I Partners with Amavi by Clarks for ₹500 Crore Fund

NEW DELHI: The ASK Curated Luxury Assets Fund-I (CLAF-I), a partnership between ASK Property Fund and India Sotheby’s International Realty, has launched a ₹500 crore equity platform with Amavi by Clarks, focusing on branded residences. This collaboration is set to invest in equity for luxury second homes located in scenic hills, serene lakes, and spiritual destinations. ASK CLAF-I is registered with the Securities and Exchange Board of India (SEBI) as a Category-II Alternative Investment Fund (AIF) under relevant regulations. The fund aims to raise ₹1,500 crore overall, which includes a green shoe option of ₹500 crore for its final closing.…

Latest StoriesResidential

Noida: NPCL Cuts Power to Housing Societies for Unpaid Dues

Sure! Here’s a rewritten version of the content you provided: Representative image NOIDA: The Noida Power Company Limited (NPCL) has ramped up its disconnection efforts this month to recover outstanding dues from residential societies and businesses in Greater Noida. Recently, power was cut at Himalaya Pride in Greater Noida West for eight hours—from 10:30 AM to 6:30 PM—over unpaid dues amounting to ₹37.3 lakh, including overdue payments dating back to October. Supply was restored after the society’s maintenance team paid the outstanding amount. This is just one of many recent disconnections in the area. NPCL also disconnected power at Mahagun…

IndustryLatest Stories

Ghaziabad fines builders for storing materials outdoors

Here’s the rewritten content: GHAZIABAD: The Ghaziabad Development Authority (GDA) has imposed fines of Rs 20,000 on two developers for unlawfully storing construction materials outdoors, breaching construction and demolition waste regulations and directives from the National Green Tribunal (NGT). According to GRAP-3 guidelines, open storage is strictly forbidden, with sites larger than 20,000 square meters required to have PTZ cameras. A GDA official noted that violations were identified in New Panchawati Colony and a location in the Vijaynagar area, leading to penalties being issued in accordance with current construction regulations during the enforcement of GRAP. As per established norms, a…

Latest StoriesRegulatory

ED Arrests Arihant Shelters’ Director in ₹18 Crore Scam

CHENNAI: The Enforcement Directorate (ED) has arrested Aashish Jain, the director of Chennai-based real estate company Arihant Shelters, as part of an ongoing investigation into a money laundering case involving government (OSR) land sold to private parties through falsified documentation. These lands were later purchased at inflated prices for the Sipcot and NHAI projects. The arrest occurred following searches conducted on November 19 across 15 locations in Chennai, Kanchipuram, and Chengalpet connected to a Prevention of Money Laundering Act (PMLA) case initiated by the ED. Aashish is scheduled to appear before a magistrate on Tuesday, according to ED sources. Arihant…

IndustryLatest Stories

Gurugram Housing Project License Expires; SU Estates Faces FIR

Representative AI image GURUGRAM: The Department of Town and Country Planning (DTCP) has instructed the police to file an FIR against SU Estates for neglecting to renew its group housing license for a 20-acre project located in Sector 58/63. The license allowed the developer to create a residential group housing colony in Ullahwas as part of the Gurgaon-Manesar Urban Complex. The license, initially issued in 2009, expired in August 2017, yet the developer never submitted a renewal application or the necessary documents according to Rule 13 of the 1976 Urban Areas Rules. A notice issued on October 17 was reportedly…

Latest StoriesRegulatory

Cuttack housing project faces ₹10 crore unpaid GST liability

BHUBANESWAR: The commissionerate of commercial tax (CT) and GST in Cuttack has identified an outstanding GST liability of approximately Rs 10 crore related to a significant housing project undertaken by a promoter in collaboration with the Cuttack Development Authority (CDA). This amount pertains to unpaid taxes on the transfer of development rights (TDR) for a land parcel designated for private development. Investigators noted that while other dues have been cleared, this liability remains unsettled. As detailed in the tax evasion report, the project operates under a joint development agreement, where the developer has built affordable housing consisting of 550 units…

CommercialLatest Stories

Sporta Technologies Leases 1.69 Lakh Sq Ft in Worli, Mumbai

Sporta Technologies, the parent company of the fantasy gaming platform Dream11, has secured a long-term lease for an office space spanning four floors in a commercial tower located in Mumbai’s Worli area. The deal involves total rental payments close to Rs 300 crore over the lease duration, marking one of the largest single-tenant office agreements in the city this year. The company has signed an agreement with K Raheja Corp to lease a 169,250 sq ft office space in the Ascent Worli project on Sudam Kalu Ahire Marg. This lease, lasting 60 months and featuring a 36-month lock-in period, includes…

InfrastructureLatest Stories

Geofencing to Monitor Land Use Changes in Sultanpur Park

GURUGRAM: The eco-sensitive zone surrounding Sultanpur National Park is undergoing digital geofencing, creating five concentric rings around the area to monitor land-use changes and construction in real time. “Each ring has its own set of prohibitions, regulations, and activities to be encouraged,” stated divisional wildlife officer (DWO) RK Jangra in an interview with TOI on Monday. Restrictions include no mobile towers within 3km, no new wood-based industries nearby, and no construction within 300 meters of the park. The 5km eco-sensitive zone encompasses 22 villages, with mapping of the outermost ring already underway. The timeline for implementing the alert system will…

IndustryLatest Stories

Rajasthan Forms Ministerial Committee for Land Allotment Policy 2025

JAIPUR: On Monday, the state government established a six-member cabinet sub-committee to ensure the effective implementation of the Rajasthan Land Allotment Policy-2025, in accordance with provision 7.6 of the policy. The committee consists of Deputy Chief Minister Prem Chand Bairwa, Health Minister Gajendra Singh Khimsar, School Education Minister Madan Dilawar, Social Justice and Empowerment Minister Avinash Gehlot, Revenue Minister Hemant Meena, and Urban Development and Local Self Government Minister of State (independent charge) Jhabar Singh Kharra. The committee will review proposals related to exemptions and relaxations and will present them to Chief Minister Bhajan Lal Sharma along with necessary recommendations.…