Category: Latest Stories

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Latest StoriesResidential

DDA Ends Parking Fees in Housing Scheme Flat Prices

NEW DELHI: The Delhi Development Authority (DDA) has announced the elimination of parking charges, including those for covered parking, from the total cost of flats in its current housing schemes, providing relief to homebuyers. This change is anticipated to reduce flat prices by ₹5 lakh to ₹12 lakh. Homebuyers will notice immediate price drops for the MIG and HIG flats across four schemes: DDA Karmayogi Awas Yojana 2025 (First-Come First-Serve), DDA Towering Heights Karkardooma Housing Scheme 2025 (E-Auction), DDA Nagrik Awas Yojana 2026 (First-Come First-Serve), and DDA Towering Heights Karkardooma Housing Scheme 2026 (First-Come First-Serve). According to the new directive,…

Latest StoriesResidential

New Penalties Replace 10% Levy on Vacant Bengaluru Sites

BENGALURU: The Bangalore Development Authority (BDA) has updated the penalty for owners who do not construct houses within the specified five-year period under lease-cum-sale agreements. Instead of the previous flat rate of 10%, introduced in September 2024, a new tiered penalty system ranging from 2.5% to 10% will be applied based on the size of the site. This change comes in response to feedback from site allottees, who argued that the uniform 10% penalty of the current guidance value for vacant sites was excessive and did not consider the diverse dimensions of sites or individual financial situations. Following these concerns,…

InfrastructureLatest Stories

Four Stations in Phase 1: NMRC to Revise Greater Noida West Metro

Here’s a rewritten version of the content: — NOIDA: Following the Union Cabinet’s approval of the Aqua Line extension from the Botanical Garden to Sector 142, the Noida Metro Rail Corporation (NMRC) announced it will develop a revised detailed project report (DPR) for the Greater Noida West metro corridor. The updated plan will feature only four stations in Phase 1, as opposed to the previously proposed eleven. In this revised plan, the metro corridor will include stations at sectors 61, 70, 123, and Greater Noida Sector 4 (Gaur Chowk) in the first phase. Initially, an 18 km track was suggested…

Latest StoriesRegulatory

High Court Orders Inspection of Bengaluru PGs for Violations

BENGALURU: The Karnataka High Court has mandated an inspection of the Paying Guest Accommodation Welfare Association’s premises in Bengaluru to verify adherence to guidelines set by civic authorities. Justice Suraj Govindaraj stated that officials must determine if the structures erected by the petitioners and association members follow the approved plans. In cases lacking sanctioned plans, compliance with existing building bylaws and permissible usages under relevant zoning regulations must be evaluated. The inspection is scheduled to commence at 10:30 AM on February 18 and should be completed within two weeks. The court clarified that petitioners could join the inspection or appoint…

Latest StoriesRegulatory

Pune PMC Fines Builder for Contaminated Water in Mhalunge

PUNE: The civic authority issued a show-cause notice and imposed a fine of Rs 1 lakh on a manager/developer of VTP Aethereus for allegedly supplying contaminated water to residents at a complex in Mhalunge. According to the notice, this action was prompted by complaints from residents, although the developer has stated that the issue has been resolved. The notice from the Pune Municipal Corporation (PMC) indicated: “As the municipal water supply system is not yet operational in the area, you provided a written assurance to the Pune Metropolitan Region Development Authority (PMRDA)/PMC that you would supply safe and potable water…

IndustryLatest Stories

Eden Realty Group to invest ₹5,000 crore in projects by 2030

KOLKATA: Eden Realty Group announced on Tuesday a substantial investment of ₹5,000 crore aimed at developing residential, commercial, and hospitality projects along both banks of the Hooghly River by 2030. The initiative includes a premium riverside residential complex in Howrah’s Shalimar, as well as five luxury hotels offering a total of 600 rooms in Kolkata, Howrah, and South 24 Parganas, as disclosed by Eden Realty MD Arya Sumant. “For the first time, we are venturing into the hospitality sector with plans to establish five luxury hotels on land leased from SMPK (Kolkata Port). We’ve engaged with various Indian and international…

Latest StoriesResidential

PMAY Houses in Bihar for 1.04 Crore: Rural Minister

PATNA: On Tuesday, Rural Development Department (RDD) Minister Shrawan Kumar presented to the state assembly that the construction of pucca houses under the Pradhan Mantri Awas Yojana (PMAY) is slated for 1.04 crore families identified through a survey, pending approval from the Centre. “The list of the 1.04 crore families eligible for pucca houses under PMAY has been sent to the Centre, and we are currently awaiting their clearance,” Kumar stated, noting that 20 lakh families have already applied online for housing under PMAY. Kumar responded to the government’s appeal for a grant of Rs 23,701.17 crore for the RDD…

Latest StoriesRegulatory

Delhi court denies bail to ex-Jaypee Infratech MD in case

NEW DELHI: A Delhi court has rejected former Jaypee Infratech managing director Manoj Gaur’s bail application in a money-laundering case, emphasizing that the allegations involve cheating and criminal breach of trust affecting many individuals. The court remarked that while numerous homebuyers sought justice after investing their life savings in their desired homes, Gaur was benefitting from the alleged proceeds of crime. Additional Sessions Judge Dhirendra Rana examined Gaur’s plea, noting that Gaur was arrested by the Enforcement Directorate (ED) on November 13, 2022, in relation to a ₹14,599-crore fraud involving homebuyers. The ED alleges that the money collected from homebuyers…

Latest StoriesRera

Homebuyers Await Recovery Warrants Two Months After MahaRERA SOP

PUNE: Homebuyers seeking compensation from defaulting developers find themselves in a state of uncertainty, as execution of recovery warrants remains stalled despite the Maharashtra Real Estate Regulatory Authority (MahaRERA) implementing a new standard operating procedure (SOP) two months ago aimed at expediting the process. Among those affected are 80-year-old Arun Seth and his wife, who invested over Rs 50 lakh in a housing project back in 2014. Even though recovery warrants were issued in their favor years ago, local revenue authorities have yet to act. “Orders are issued, but nothing gets executed. It’s unclear if the developer still has any…

InfrastructureLatest Stories

Chamarajanagar Plans to Declare 67 Revenue Villages

MYSURU: The Chamarajanagar district administration is set to designate an additional 67 villages as revenue villages shortly. A final draft is currently under preparation and will be announced soon. The district comprises 408 villages at present. Revenue department officials have pinpointed 67 human habitations, including Gollarahatti, Kuruburahatti, and Majare, for this designation. This move aims to facilitate development activities in these areas. Additionally, this designation will enable residents to access government facilities and provide them with official records for their properties, which they have been deprived of for years due to the lack of formal recognition. The district administration, along…