Category: Latest Stories

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Latest StoriesRera

Delhi RERA halts NBCC from taking action against Rajeshwari Realty

NEW DELHI: The Delhi Real Estate Regulatory Authority (RERA) has instructed NBCC Ltd. not to take any coercive actions against Rajeshwari Realty Pvt. Ltd. regarding outstanding electricity or maintenance payments while an appeal is pending before the Real Estate Appellate Tribunal (REAT). The directive was issued by a bench consisting of Chairperson Anand Kumar and Member Devesh Singh. During the hearing, both parties informed the Authority that NBCC has filed an appeal with REAT, but no stay has been granted thus far. The appeal is scheduled for hearing on March 9, 2026. Rajeshwari Realty’s counsel stated that NBCC issued a…

Latest StoriesResidential

Vastrapur Societies to Offer Land for Road Widening, Taller Buildings

Representative AI image AHMEDABAD: Various societies in Vastrapur village have opted to relinquish portions of their land for road widening, in return for accelerated redevelopment that includes taller buildings. According to the state’s comprehensive general development control regulations, the height of new constructions in urban areas is dictated by the width of surrounding roads. As a result, redevelopment efforts for societies situated on narrow roads in Ahmedabad, such as those in Vastrapur, have been stalled. Currently, road widths in Vastrapur village measure 7, 7.5, and 9 metres. As the redevelopment of older societies has stalled, traffic congestion has escalated. However,…

IndustryLatest Stories

Ludhiana Trust Assesses Crore-Worth Properties Before Court Ruling

LUDHIANA: The Ludhiana Improvement Trust (LIT) has begun an extensive assessment of its key real estate holdings, including the long-dormant City Centre building in Shaheed Bhagat Singh (SBS) Nagar. This initiative is part of the Trust’s efforts to prepare for potential significant legal outcomes and to raise funds for city development through upcoming auctions. The evaluation encompasses several valuable properties, including the multi-storey building on Rani Jhansi Road, the Trust’s headquarters in Ferozepur Gandhi Market, and the 25.5-acre City Centre project on Pakhowal Road. Sources reveal that the Delhi High Court has instructed officials to compile a list of all…

InfrastructureLatest Stories

Most Gurugram Homes Lack Access to Approved Sewer Lines

Representative AI image GURUGRAM: Nearly two-thirds of households in the city lack access to legal sewer connections. Municipal data uncovers a significant disparity: out of 550,000 households, only 180,000 have approved sewer systems, despite Gurgaon’s modern appearance with its glass towers and upscale developments. Approximately 370,000 homes—or 66.6%—operate outside the official sanitation network, relying instead on septic tanks or informal disposal methods. The situation in neighboring Faridabad is even more alarming. Of its 600,000 households, only 120,000 are connected to the official sewer system, leaving 480,000 homes (79.1%) without legal sewer access. Other cities in Haryana also face significant issues.…

Latest StoriesResidential

Illegal PG in Ahmedabad’s Science City LIG Housing Sealed

AHMEDABAD: On Tuesday evening, authorities took action to close an illegal paying guest facility operating within the Ahmedabad Municipal Corporation (AMC’s) LIG residential scheme in the Science City area, specifically the Gota ward. The Everest Enclave project, part of the Pradhan Mantri Awas Yojana, consists of six blocks and 336 houses. Based on complaints, the AMC’s vigilance team (estate/TDO) executed a surprise raid, discovering that House No. 305 in Block 2 and House No. 105 in Block 5 were being rented out as paying guest accommodations. The inspection revealed that House No. 105 was functioning as a PG facility, while…

Latest StoriesRegulatory

Nashik City Issues Notices to 500 More Property Tax Defaulters

NASHIK: The Nashik Municipal Corporation (NMC) has issued notices to an additional 500 property tax defaulters, each with outstanding dues exceeding Rs 1 lakh. They have been granted 21 days to settle their debts, after which warrants will be issued against them. Recently, the property tax department sent notices to 450 defaulters, bringing the total number of notices issued in recent weeks to 950. According to regulations, the annual property tax must be paid by December 31; failure to do so results in a 2% penalty per month. Unfortunately, many taxpayers did not adhere to the deadline, prompting the civic…

Housing FinanceLatest Stories

Muthoot Microfin Plans to Acquire Loan Against Property Firm

KOLKATA: Muthoot Microfin is currently in talks with two non-banking financial companies (NBFCs) in the micro loan against property (LAP) sector to acquire a majority stake, aiming for inorganic growth and expanding its secured lending portfolio, according to sources familiar with the matter. The firm recently entered the micro LAP business as part of a strategy to diversify its product offerings, helping to alleviate its reliance on unsecured microfinance. The inorganic growth would provide Muthoot Microfin with a robust foundation for expanding its micro LAP operations. “Muthoot Microfin is considering a majority stake acquisition that would enable it to gain…

IndustryLatest Stories

Borrowing Limits Raised to $1 Billion, ETRealty

MUMBAI: The Reserve Bank of India has released updated guidelines for External Commercial Borrowings (ECBs), revising limits, relaxing maturity requirements, and eliminating cost caps. Under these new regulations, eligible borrowers can secure ECBs up to the greater of $1 billion in outstanding borrowings or 300% of their net worth as per the most recent audited balance sheet. Previously, the borrowing cap was set at $750 million. This update comes at a time when India’s ECB transactions have been on the rise, with Indian companies raising a record $61 billion through this route in FY25, compared to $48 billion in FY24.…

Latest StoriesResidential

Kochi: Delay in Allocating Apartment Units in Rajiv Awas Yojana

KOCHI: The allocation of apartment units for beneficiaries in the Rajiv Awas Yojana (RAY) housing complex is facing further delays. Corporation authorities have announced that the trial run for the facility’s sewage treatment plant will take place on March 10. Selection procedures for beneficiaries are still ongoing. Mayor V K Minimol stated during a corporation council meeting on Tuesday that only 211 beneficiaries have submitted complete documentation, and the allotment process has been finalized for 198 of them. The total number of beneficiaries listed by the corporation is 398. Additionally, beneficiaries are required to contribute their share; this funding, along…

IndustryLatest Stories

Maharashtra Forms Panel to Review TDR Relief for Redevelopment

PUNE: The state government has established a 12-member committee to re-survey river flood lines across Maharashtra, including areas in Pune and Pimpri Chinchwad, nearly a year after making this commitment in the assembly. The panel is expected to submit its report within two months. The government has tasked the committee with reviewing current regulations and suggesting amendments to the Unified Development Control and Promotion Regulations (UDCPR) to facilitate the use of Transfer of Development Rights (TDR) for properties built within flood lines prior to the irrigation department’s demarcation in 2009. A significant number of properties, particularly in Pimpri Chinchwad, were…