Category: Latest Stories

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IndustryLatest Stories

Chennai Developers Spend ₹2,500 Crore on Land in Two Years

Representative image CHENNAI: Over the past two years, real estate developers have poured more than ₹2,500 crore into acquiring prime land across 79.9 acres, stretching from Haddows Road in the central city to Chembarambakkam on the outskirts. Notable transactions include Baashyaam Group’s acquisition of 5.8 acres on Haddows Road for ₹1,212 crore, and a joint venture between Prestige Estate Projects and Arihant Foundations, which secured 16.4 acres in Padi for ₹561 crore. Brigade Group also purchased 5.4 acres in Velachery for ₹441.7 crore. Additionally, Freshworks founder Girish Mathrubootham bought 7.6 grounds in Boat Club for ₹211 crore, while Arihant acquired…

Latest StoriesRera

TN appoints interim panel to oversee RERA activities

CHENNAI: On Tuesday, the state government appointed an interim panel to lead the Tamil Nadu Real Estate Regulatory Authority (TNRERA), naming retired IAS officer K Phanindra Reddy as chairperson. The panel also includes retired district judge A Nazir Ahamed and retired IAS officer Reeta Harish Thakkar. This decision comes after the recent resignations of the authority’s previous chairperson and members. As of Tuesday, the state government has superseded TNRERA for a six-month period, effective immediately or until its reconstitution, whichever comes first. According to an order from the housing and urban development department, the authority could not fulfill its statutory…

Latest StoriesRegulatory

SC Transfers Amit Katyal’s Money-Laundering Case to Delhi

NEW DELHI: On Tuesday, the Supreme Court moved a money-laundering case involving real estate magnate Amit Katyal, linked to alleged fraud against homebuyers, from Gurugram to a special PMLA court in Delhi. A bench consisting of Chief Justice of India (CJI) Surya Kant and Justice Joymalya Bagchi issued the transfer order following Katyal’s request to shift the case lodged under the Prevention of Money Laundering Act (PMLA). “We instruct that the PMLA proceedings currently before the Special Judge in Gurugram, Haryana, be transferred to the Special Judge at the Saket Court Complex in Delhi. The prosecution will continue at the…

Latest StoriesRegulatory

SC Rejects Plea Against CRZ Clearance for Mannat’s New Floors

NEW DELHI: In a favorable verdict for Shah Rukh Khan, the Supreme Court has dismissed a petition challenging the Coastal Regulation Zone (CRZ) clearance for the addition of two more floors to his residence, Mannat, in Mumbai. During the proceedings, Chief Justice Surya Kant along with Justices Joymalya Bagchi and V Mohana questioned the credibility of the petitioner and declined to interfere with the National Green Tribunal’s ruling from September 16, 2025. “They are residing there. If they wish to build additional floors in a residential space, it’s their decision. The law is generally adhered to. Why should any neighbor…

Latest StoriesRegulatory

CBI Files 16th Chargesheet Against Noida Builder, Bank Staff

NEW DELHI: The CBI has filed its 16th chargesheet in an ongoing investigation into alleged large-scale fraud cases involving homebuyers. This chargesheet accuses a Noida-based real estate firm and officials from two private banks of conspiring to defraud buyers and investors. The chargesheet has been presented before the Special Judge for CBI cases at Rouse Avenue District Court in New Delhi, as stated by officials. The CBI has charged “Saha Infratech Pvt. Ltd., its director, and officials from HDFC Bank Ltd. and ICICI Bank Ltd.” in connection with alleged fraudulent activities related to a housing project in Noida. The investigation…

Latest StoriesRegulatory

Panchkula civic body highlights ₹37 crore in property tax dues

PANCHKULA: The municipal corporation (MC) has identified property tax arrears totaling ₹37.68 crores from 697 properties, each with outstanding dues exceeding ₹2 lakhs. This list includes private and government properties, all of which have received notices to clear long-standing dues. According to MC records, private properties contribute ₹25.95 crores to the arrears, while government properties account for ₹11.73 crores. Leading the private defaulters is Hotel North Park in Sector 32, owing nearly ₹2 crores. Other major defaulters include Appworx IT Solutions Pvt Ltd in IT Park, Sector 22 (₹77.11 lakhs), New Bansal Electronics (₹40.04 lakhs), Satyam I Way (₹38.97 lakhs),…

InfrastructureLatest Stories

Andhra Pradesh Greenlights Visakhapatnam’s 2041 Master Plan

VISAKHAPATNAM: The Andhra Pradesh government has approved the updated VMRDA Master Plan-2041, which includes significant development initiatives such as the coastal corridor linking Visakhapatnam and Bhogapuram, projects in the Visakhapatnam Economic Region, the Bay City project, and the proposed Bhogapuram International Airport with its accompanying Aerocity, along with GMR Manasa Aviation Educity and other essential infrastructure projects. The new plan outlines several growth corridors, including proposed IT and data center hubs in Madhurawada, Anandapuram, and Kapuluppada, as well as the Bay City brownfield development corridor extending from Kailasagiri to Bheemili. Additionally, it incorporates tourism and economic development projects involving six…

IndustryLatest Stories

Rajasthan: 86 Colonies Hold Mahapanchayat for Land Titles

Representative AI image JAIPUR: In a significant development, thousands of families residing in 86 colonies across Sanganer and Bagru have threatened to boycott the upcoming local body elections unless their long-standing request for land titles is addressed. This ultimatum came during a meeting on Monday organized by the Niyaman Hetu Sangharsh Samiti. The committee revealed that these colonies, founded 40 to 50 years ago through government-registered housing cooperative societies, currently house around 25,000 to 30,000 families. While the areas boast basic infrastructure such as roads, sewer lines, electricity, and water supply from Bisalpur, residents have yet to receive land titles…

Latest StoriesRegulatory

Delhi HC: 24,000 flats unavailable for evicted slum dwellers

NEW DELHI: Authorities are relocating slum dwellers from near the Prime Minister’s residence to Savda Ghera, situated 45 km away, despite the existence of over 24,000 homes meant for rehabilitation lying vacant nearby. On Monday, the Delhi High Court demanded explanations from both the Central and state governments regarding the condition of these 24,284 units, many of which are in disrepair and unoccupied. “Shouldn’t we examine the necessity of relocating elderly residents 45 km away when accommodations are available in close proximity? This arbitrariness must be scrutinized… Who is accountable for these unoccupied houses? Both governments have invested nearly Rs…

IndustryLatest Stories

MHADA Lottery Delayed: Awaiting VIP Approval

MUMBAI: Thousands of eager MHADA homebuyers are left waiting as the housing authority has yet to announce the date for its highly anticipated lottery draw. The postponement is not due to a technical issue but rather a challenge in securing a chief guest. As per sources from Mumbai Mirror, the uncertainty is primarily due to the availability of senior political figures, with no confirmations received from their offices regarding their schedules. MHADA aims to have either the Chief Minister, a Deputy Chief Minister, or the Minister of State for Housing as the event’s chief guest. “However, their busy political schedules…