Category: Latest Stories

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InfrastructureLatest Stories

Andhra Pradesh Reveals Capital Land Pooling Scheme Rules, 2025

AMARAVATI: On Tuesday, the Andhra Pradesh government announced the Andhra Pradesh Capital Region Land Pooling Scheme (Formulation and Implementation) Rules, 2025, which will oversee the innovative land pooling method necessary for the development of the greenfield capital city, Amaravati. S. Suresh Kumar, Principal Secretary for Municipal Administration and Urban Development, stated that these rules will apply to the ‘capital region,’ while the ‘capital city area’ will still follow the guidelines set by the Andhra Pradesh Capital City Land Pooling Scheme (Formulation and Implementation) Rules of 2015. The scheme is designed to align with the government’s vision of creating a ‘People’s…

Latest StoriesRegulatory

SC Approves M3M Group’s Request to Substitute Attached Property

Supreme Court NEW DELHI: The Supreme Court has granted M3M Group’s request to substitute a property initially attached by the Enforcement Directorate under the Prevention of Money Laundering Act, 2002. A bench consisting of Justices P S Narasimha and R Mahadevan ruled that the property substitution is contingent upon nine conditions recommended by the ED. The bench stated, “We have heard Dr. Abhishek Manu Singhvi, senior counsel for the petitioner, and have considered the matter thoroughly. The petitioners, M/s. M3M India Pvt. Ltd. and M/s. M3M India Infrastructure Pvt. Ltd., have submitted an affidavit agreeing to the stipulations. While we…

IndustryLatest Stories

Norges Bank sells ₹42 crore in Raymond Realty; parent’s ₹221 crore deal

On Tuesday, Raymond Limited’s real estate division, Raymond Realty, made its debut on the stock market amid a block deal, as Norges Bank sold 4,12,585 equity shares valued at approximately Rs 42 crore. This transaction occurred slightly above the listing price of Rs 1,000 on the NSE but below the discovery price. Norges Bank, on behalf of the Norwegian Government Pension Fund Global, sold shares at Rs 1,005.94. Conversely, shares of Raymond Realty closed at Rs 999, down by Rs 40, which is nearly a 4% drop from the discovery price of Rs 1,039.30. The parent company, Raymond, also experienced…

Latest StoriesResidential

Jaipur to Hold Lottery for 3 Residential Schemes on July 2

JAIPUR: The Jaipur Development Authority (JDA) is set to conduct the lottery for allotting plots in three residential schemes—Ganga Vihar, Yamuna Vihar, and Saraswati Vihar—on Wednesday. This marks the first time JDA will live stream the entire lottery process. According to JDA commissioner Anandhi, “The event will take place at the Citizen Service Centre of JDA headquarters. We will stream the entire lottery live on JDA’s YouTube channel and Facebook page.” JDA has received more than 82,000 applications for a total of 765 plots across these three schemes. Published On Jul 2, 2025 at 09:29 AM IST Join our community…

Latest StoriesRera

Tamil Nadu RERA: Mandatory Info Boards for Real Estate Projects

CHENNAI: The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has released a circular aimed at boosting transparency and consumer awareness. Effective May 7, the mandate requires all registered real estate project sites to install well-visible display boards. This rule is applicable to both building and layout projects statewide. According to TNRERA member M. Krishnamoorthy, “The circular specifies that these boards must include crucial details such as the promoter’s name, the project’s name, TNRERA registration information, the completion date as per TNRERA, and the TNRERA website link.” Reiterating the provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA), TNRERA…

CommercialLatest Stories

Colliers India Targets ₹1,100 Crore Order Book by 2025

NEW DELHI: Colliers India aims to achieve an order book of ₹1,100 crore by 2025, a significant increase from its revenue of around ₹700 crore last year. The company has reported a strong start to the year, with its leasing division experiencing a growth of 20–25% over 2024. Sankey Prasad, chairman and managing director, expressed in an exclusive interview with ETRealty that the firm is optimistic about India’s commercial real estate sector, noting strong fundamentals and persistent demand amidst global challenges. As part of its global integration strategy, Colliers is setting up a new Global Capability Centre (GCC) in Bengaluru.…

Housing FinanceLatest Stories

Bank of Maharashtra Cuts Retail Loan Rates by Up to 50 Bps

NEW DELHI: The Bank of Maharashtra, a state-owned institution, announced on Thursday that it has cut its interest rates by up to 50 basis points on retail loans including home, car, education, and other loans linked to the Repo Linked Lending Rate. This reduction aligns with the RBI’s recent rate moderation and is effective from June 10. With this cut, the starting interest rate for home loans is now 7.35 percent, while car loans begin at 7.7 percent, marking some of the lowest rates in the banking sector, according to a statement from BoM. The bank emphasized that this rate…

InfrastructureLatest Stories

Chandigarh Dismantles 10 Homes in Manimajra

CHANDIGARH: The Chandigarh administration continued its anti-encroachment efforts on Wednesday, demolishing 10 residential structures in Manimajra. The land, approximately 38 acres, was acquired for public use in 1998, with compensation paid at that time. However, nearly 1.5 acres have been encroached upon over the years with the erection of unauthorized buildings. “After following due legal procedures, including issuing formal notices and allowing sufficient time for voluntary vacating, the administration carried out the demolitions. A petition from the encroachers in the high court has been dismissed,” stated Nishant Kumar Yadav, deputy commissioner and estate officer. A significant police presence was maintained…

CommercialLatest Stories

Trichy Civic Body Faces ₹121 Crore Deficit from Vacant Spaces

TRICHY: The Trichy City Corporation is facing a significant funding crisis, raising alarms among councillors about the timely implementation of developmental initiatives as the assembly elections approach. Several commercial complexes established under the Smart Cities Mission are either vacant or incomplete, leading to considerable revenue losses for the corporation. There are at least 58 shops in three Corporation-owned complexes that have remained empty for three years, with the potential to generate over 2 crore in annual rental income if fully occupied. For the financial year 2025-26, the corporation anticipates revenues of 579 crore against expenditures of 700 crore, resulting in…

Latest StoriesResidential

Over 75% of Dharavi Tenement Holders Eligible for New Homes

MUMBAI: The Dharavi Redevelopment Project (DRP) has unveiled its first eligibility list, revealing that over 75% of tenement holders qualify for new homes under this ambitious slum redevelopment initiative, according to DRP data. Residents who moved to Dharavi before January 1, 2000, can qualify for a 350 sq ft flat within the area, assuming they provide the necessary documentation. Residents who established residence between January 1, 2000, and January 1, 2011, may be offered 300 sq ft units at alternative locations outside Dharavi. The first list identifies 505 households from Meghwadi and Ganesh Nagar in Mahim as eligible for rehabilitation.…