Category: Latest Stories

Access daily updates on all real estate sectors including residential, commercial, retail, and infrastructure. Stay ahead with market trends, policy changes, investment news, and expert analysis from across the globe.

InfrastructureLatest Stories

Goa CZMA: CRZ Structures Must Be Contained for Mundkar Houses

Representative AI image PANAJI: The Goa Coastal Zone Management Authority (GCZMA) has mandated the demolition of a house that was illegally expanded in the no-development zone along the Sal river in Velim. The authority referenced the CRZ Notification of 1991, highlighting its ‘doctrine of containment,’ which allows for toleration of existing structures but prohibits any extension beyond their original dimensions. The GCZMA noted that the original structure, a mundkarial house, was no longer intact, having been entirely rebuilt with extensions both horizontally and vertically. They asserted that, due to these modifications, the authority deemed the structure in violation of regulations…

InfrastructureLatest Stories

Eviction in Bhubaneswar’s Largest Slum for Road Project

BHUBANESWAR: The Odisha government has initiated a significant eviction operation in Salia Sahi, Bhubaneswar’s largest slum, to facilitate the construction of a new road aimed at reducing traffic congestion on the Jayadev Vihar-Nandankanan road, officials reported on Wednesday. Despite protests from some residents, local activists, and political figures, a collaborative enforcement team from the Bhubaneswar Municipal Corporation (BMC), Bhubaneswar Development Authority (BDA), and other departments began the eviction on Tuesday, supported by police presence. Authorities have identified over 550 unauthorized residences for removal, with more than 80 demolished on the first day of the operation, which continued into its second…

Latest StoriesResidential

Vadodara Civic Body Seeks Housing Societies’ Help for Cleanliness

VADODARA: Senior officials from the Vadodara Municipal Corporation (VMC) engaged with representatives from 100 housing societies on Tuesday, requesting their support to enhance the city’s cleanliness efforts. The VMC is intensifying its sanitation initiatives, with senior officials conducting reviews across various areas. They’ve directed staff to closely monitor sanitation practices and prevent littering. VMC commissioner, Arun Mahesh Babu, informed the media that the representatives from the societies were urged to maintain cleanliness around their premises. “Failure to uphold cleanliness could result in action against a society,” he noted, adding that societies are encouraged to compete in cleanliness standards. In the…

Latest StoriesRegulatory

Odisha HC Orders Shantipalli Basti Residents to Vacate for Project

BHUBANESWAR: The Orissa High Court has ordered the residents of Shantipalli Basti in Bhubaneswar to vacate their homes and relocate to designated temporary accommodations. This move is aimed at facilitating the completion of the Shantipalli Awas Yojana, a significant in-situ slum redevelopment initiative under the Pradhan Mantri Awas Yojana (Urban). Justice Sanjeeb K Panigrahi delivered this ruling in response to several petitions from beneficiaries of the project. He upheld the legal transfer of land to the Bhubaneswar Development Authority (BDA) and validated the State Level Sanctioning and Monitoring Committee’s decision to set the beneficiary contribution at Rs 1.5 lakh per…

Latest StoriesRegulatory

Pune Land Deal Report Blames Sub-Registrar, Two Others; No Parth Pawar

PUNE: A committee led by a Joint Inspector General of Registration (IGR) has completed its investigation into a controversial Rs 300-crore land transaction involving a Pune firm co-owned by Parth Pawar, son of Maharashtra Deputy CM Ajit Pawar. The committee has identified three individuals named in a police FIR, according to an official report. The three-member panel’s findings were submitted on Tuesday, but it did not implicate Parth Pawar, as his name was absent from any of the relevant documentation, as per a senior official’s statement to PTI. Joint IGR Rajendra Muthe, who led the committee, presented the report to…

Latest StoriesResidential

AP CM: All PMAY Beneficiaries Should Receive BEE-Rated Appliances

VISAKHAPATNAM: Chief Minister N Chandrababu Naidu has instructed state officials to guarantee that all beneficiaries of PMAY receive BEE star-rated, energy-efficient appliances, thus promoting universal access to affordable and clean energy. In cooperation with Energy Efficiency Services Limited (EESL), the Andhra Pradesh housing department is set to distribute four LED bulbs, six LED tube lights, and two BLDC fans to approximately six lakh households by 2026, supported by additional state funding. The initiative aims to engage households in climate action and is projected to save 10.24 million kWh and significant financial resources annually, marking it as India’s largest energy efficiency…

CommercialLatest Stories

Saif Ali Khan Acquires ₹30.75 Crore Property in Mumbai

NEW DELHI: Saif Ali Khan has acquired a commercial property valued at ₹30.75 crore in Kanakia Wallstreet, Andheri East, Mumbai, as revealed by property registration documents accessed by Volney. The property includes two adjoining office units, totaling a carpet area of 5,682 sq ft and a salable area of 9,659 sq ft, along with six designated car parking spaces. Rohan Sheth, founder of the company, noted, “In recent years, we’ve witnessed increasing interest from celebrities and high-net-worth individuals diversifying into grade-A commercial real estate. This sector is perceived as a stable, appreciating asset that complements other investment options.” Volney also…

IndustryLatest Stories

Maharashtra: IGR Panel Calls for Stricter Property Registration Controls

PUNE: A five-member inquiry committee, led by Joint Inspector General of Registration Rajendra Muthe, has proposed significant reforms to enhance Maharashtra’s property registration system and reduce revenue loss. This recommendation follows an investigation into irregularities linked to a ₹300-crore land purchase case in Mundhwa involving Amadea Enterprises LLP, associated with Deputy Chief Minister Ajit Pawar’s son, Parth. According to sources familiar with the report, the committee has advised that registrars must obtain a formal decision from the Stamp Collector under Section 31 of the Maharashtra Stamp Act before granting stamp duty exemptions based on government notifications. “This measure is vital…

Latest StoriesResidential

IBBI Considers Resolution Benefits for Homebuyers

NEW DELHI: The insolvency regulator has proposed easing regulations to ensure that all homebuyers affected by bankrupt real estate developers can benefit from resolution gains, including those who have not submitted claims. This initiative could potentially aid thousands of allottees nationwide. In a discussion paper, the Insolvency and Bankruptcy Board of India (IBBI) has recommended enhanced disclosures regarding stressed firms’ assets, stricter safeguards for committees of creditors lacking financial institution representation, and proper documentation for liquidation orders. “The Information Memorandum related to the stressed firm should include all allottees’ details—names, amounts owed, and allotted units—as per the corporate debtor’s records,…

IndustryLatest Stories

Maharashtra Minister Orders Free Regularization of Small Lands

MUMBAI: Maharashtra’s Revenue Minister, Chandrashekhar Bawankule, announced on Tuesday the free regularization of small land parcels that were purchased in violation of the Fragmentation Act. This initiative is projected to benefit approximately 60 lakh property holders and nearly three crore citizens statewide. “Entries reflecting transactions violating the Maharashtra Prevention of Fragmentation and Consolidation of Holdings Act will be erased from the 7/12 land title document,” Bawankule stated. He emphasized that the newly implemented eight-point procedure will legitimize thousands of long-standing small-plot transactions in Maharashtra. In response to Bawankule’s directive, the revenue department indicated that this procedure will apply to land…