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Latest StoriesRegulatory

Raigad Collector Given 7 Days to Probe PMAY Project Violations

NAVI MUMBAI: The Maharashtra Coastal Zone Management Authority (MCZMA) has given a seven-day ultimatum to the Raigad district collector to investigate potential environmental infractions at the Pradhan Mantri Awas Yojana (PMAY) multi-tower project in Kharghar. This directive follows a year of inaction on a previous order. This requirement was initiated by a follow-up from the Union environment ministry and mandates the collector, who also leads the district coastal zone management committee (DCZMC), to assess compliance with necessary mangrove buffers and Coastal Regulation Zone (CRZ) standards. A letter from Vishal Madane, under secretary in the state environment department, has mandated a…

Latest StoriesResidential

Noida Authority Notifies ATS Homes Over Sports City Delay

NOIDA: The Noida Authority has notified ATS Homes, the primary developer for the Sports City project in Sector 152, regarding violations of lease agreements, construction delays, and a failure to provide essential sports infrastructure nearly ten years after the land was allocated. Officials report that ATS Homes and its consortium partners owe the authority ₹2,746 crore in outstanding dues and have consistently ignored reminders regarding their responsibilities. The 5 lakh sqm land parcel, of which ATS occupies 4 lakh sqm, was granted in July 2015 with a mandate to complete all sports facilities within five years and obtain occupancy certificates…

Housing FinanceLatest Stories

Aviom India Housing Finance Promoter Offers Dues Settlement Amid Bids

KOLKATA | MUMBAI: The promoter of Aviom India Housing Finance has proposed a settlement plan to lenders to settle Rs 1,385 crore in debts over 26 months, including accrued interest, according to sources. Promoter Kajal Ilmi presented the proposal late Wednesday while the company is under insolvency proceedings initiated by the Reserve Bank of India (RBI). Six entities have expressed interest in takeover bids. The proposal includes an upfront payment of Rs 350 crore, with the remaining accrued interest to be paid within 24 months after the initial 26-month principal repayment. Ilmi’s plan outlines full payment to operational creditors and…

InfrastructureLatest Stories

Builders Commit to Compliance as GRAP Stage-III Begins in NCR

NEW DELHI: As air quality in Delhi-NCR deteriorates to ‘severe’ levels, the Commission for Air Quality Management (CAQM) has implemented Stage-III of the Graded Response Action Plan (GRAP), enforcing immediate restrictions on construction and demolition activities in the area. Real estate developers and industry organizations have committed to adhering to these directives, underscoring their environmental responsibility by adopting dust control and pollution reduction measures at all active sites. Pradeep Aggarwal, founder and chairman of Signature Global (India), stated, “Although temporary restrictions on construction may necessitate short-term changes, such actions are vital for promoting environmental sustainability and public health. Our teams…

CommercialLatest Stories

91Springboard Leases 100K Sq Ft Workspaces in Mumbai & Gurugram

NEW DELHI: 91Springboard, a workspace solutions provider, has launched two new centers in Mumbai and Gurugram. Together, the two hubs cover approximately 100,000 sq ft and are expected to be operational by the next quarter. The Mumbai center, located at Hiranandani Business Park, LightHall in Andheri East, spans 40,000 sq ft, while the Gurugram center at DLF World Trade Park covers 60,000 sq ft. To date, the company has added half a million sq ft of space in 2025 and aims to reach an additional million by the end of this fiscal year. Currently, it manages over 1.64 million sq…

IndustryLatest Stories

Prestige Estates Q2 FY26 Profit Soars 95% to ₹457.4 Crore

NEW DELHI: Prestige Estates Projects Ltd has announced a 95% increase in consolidated net profit, reaching Rs 457.4 crore for the September quarter, thanks to higher income and reduced expenses. In the same quarter last year, net profit was Rs 234.6 crore. The total income surged to Rs 2,697.8 crore in the second quarter of this fiscal, up from Rs 2,423.8 crore during the corresponding period last year, as reported in their Wednesday regulatory filing. Irfan Razack, Chairman and Managing Director of Prestige Group, stated that the company has delivered strong financial and operational performance. “The first half of FY26…

Latest StoriesRegulatory

ED Detains Former Jaypee Infratech MD in ₹14,599 Crore Case

NEW DELHI: The Enforcement Directorate has arrested Manoj Gaur, former Managing Director of Jaypee Infratech Ltd., in connection with a money laundering investigation involving an alleged Rs 14,599 crore fraud against home buyers, according to official sources. The businessman was apprehended under the Prevention of Money Laundering Act (PMLA). The agency claims that funds gathered from home buyers were misappropriated to various trusts, resulting in unfinished projects and defrauded investors. The ED’s investigation revealed that Gaur serves as the Managing Trustee of Jaypee Sewa Sansthan (JSS), which benefitted from these diverted funds. The case against him relates to the alleged…

InfrastructureLatest Stories

Delhi to install CCTV at 524 sites to curb construction dumping

Representative AI image NEW DELHI: In a bid to combat illegal dumping of construction and demolition (C&D) waste in public areas, the Municipal Corporation of Delhi (MCD) will install CCTV cameras at 524 sites across 12 city zones. The Shahdara South zone will host the highest concentration, with 113 locations. Officials discussed the issue at a recent meeting where the Public Works Department (PWD) agreed to provide the cameras, although PWD has not made any comments regarding this decision. “The installation of these cameras will help identify repeat offenders and impose penalties. While our teams conduct inspections, it’s challenging to…

Latest StoriesRegulatory

Realtor, sub-registrar arrested in Bengaluru land case

BENGALURU: Central Crime Branch (CCB) officials have apprehended a sub-registrar and a realtor-cum-middleman over a land-grabbing case in Beratena Agrahara, Begur. The individuals arrested are Kumari Roopa, who is currently employed at the Kacharakanahalli sub-registrar office, and Naveen Kumar. This case dates back to August 2022, initiated by a landowner at the Parappana Agrahara police station, naming 139 suspects in the FIR. According to the complainant, he entered into an oral agreement with Naveen and others to develop residential sites, with a total of 107 sites designated for this project. However, the landowner claims that the accused, including Naveen and…

Latest StoriesRera

Telangana RERA Orders Aliens Developers to Refund ₹2 Lakh

HYDERABAD: The Telangana Real Estate Regulatory Authority (TGRERA) has mandated Aliens Developers Pvt Ltd to refund ₹2,00,000 to a homebuyer, Bakki Sneha of Karwan, within 30 days. This amount reflects the remaining balance of a booking advance for a flat in the ‘Aliens Space Station’ project located in Tellapur, Sangareddy district. As per the order issued on Wednesday, Sneha had initially booked a flat in the project, paying ₹2.5 lakh on May 31, 2020. However, after cancelling her booking, she only received ₹50,000 as a partial refund in October 2022. Despite her repeated requests, the remaining amount of ₹2 lakh…