Category: Latest Stories

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Latest StoriesRegulatory

Ahmedabad: Developers Charged with ₹2 Crore Investor Fraud

AHMEDABAD: Two separate complaints have been filed at the Bopal police station accusing developers associated with the Privilon Group of defrauding investors by promoting housing and commercial projects on land they allegedly do not own and without the necessary regulatory approvals. Police indicate that these complaints, along with other reports from investors, suggest a fraud amounting to approximately Rs 2.22 crore involving flats and shops in proposed developments in Ghuma village, located on the city’s outskirts. The first FIR was lodged by Shanti Jadav, 49, a farmer from Gujar village in Dhandhuka taluka. Jadav claims he was misled into investing…

Latest StoriesRera

Telangana RERA Orders Promoters to Compensate Plot Buyers

HYDERABAD: The Telangana Real Estate Regulatory Authority (TGRERA) has mandated Apoorva Infra to reimburse buyers of plots in the “Swaminarayana Eco Township” in Undrugonda, Chivemla mandal, Suryapet district. The directive comes as the developer failed to complete the project. TGRERA issued its ruling on February 3 following three complaints. In two instances, the authority ordered the promoter to pay interest due to delays. In the third, it required a full refund along with interest. The developer cited the pandemic and legal disputes for the project delays. Refund mandated after cheque bounce In a complaint from D Shivannageshwar Rao of Suryapet,…

IndustryLatest Stories

Sebi Plans to Broaden Liquid MF Investments for REITs, InvITs

NEW DELHI: On Thursday, the market regulator Sebi proposed to broaden the investment scope for liquid mutual fund schemes by Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), as the current eligibility criteria limit their investment choices. At present, these investments are confined to liquid schemes that have a high credit risk value and are highly classified in terms of risk. Sebi’s proposals aim to simplify business operations for REITs and InvITs, offering enhanced investment flexibility while maintaining necessary prudential safeguards. In its consultation paper, Sebi has also suggested that InvITs should be allowed to retain investments in…

Latest StoriesRegulatory

Renting a Flat Doesn’t Strip Homebuyers of Consumer Rights: SC

NEW DELHI: The Supreme Court has ruled that simply renting or leasing out a residential apartment does not automatically remove the buyer’s status as a “consumer” eligible for rights under consumer protection laws. A bench composed of Justices Prashant Kumar Mishra and N V Anjaria stated that the responsibility lies with the property builder to demonstrate that the primary reason for purchasing the apartment was for “commercial purposes” to exclude the buyer from being classified as a “consumer.” The bench noted that section 2(1)(d) of the Consumer Protection Act defines a “consumer” as anyone who purchases goods or services for…

CommercialLatest Stories

Knowledge Realty Trust’s Q3 FY26 NOI Rises 19%

NEW DELHI: Knowledge Realty Trust has announced a year-on-year net operating income (NOI) growth of 19%, reaching ₹10,407 million, while revenue rose by 21% to ₹11,787 million for the quarter ending December 31, 2025. The company declared distributions totaling ₹6,953 million, equating to ₹1.57 per unit. Shirish Godbole, CEO of Knowledge Realty Trust, stated, “We are pleased to report strong Q3 FY26 operating performance and robust distributions of ₹6,953 million (₹1.57 per unit).” The company leased 0.6 million square feet in Q3 FY26, bringing total leasing for the first nine months of FY26 to 2.4 million square feet. The portfolio…

IndustryLatest Stories

Godrej Properties Q3 FY26 Net Profit Up 22.55%

NEW DELHI: Godrej Properties (GPL) has reported a net consolidated profit growth of 22.55% for the quarter ending December 31, 2025. Its profit after tax (PAT) reached ₹193.87 crore, up from ₹158.20 crore during the same quarter last year, as per the company’s BSE filing. The company’s net consolidated total income for Q3 FY26 stood at ₹1,033.84 crore, reflecting a decline of 16.62% from ₹1,239.97 crore in the previous fiscal year’s corresponding quarter. Pirojsha Godrej, Executive Chairperson, stated, “The ₹6,000 crore equity capital raised through a QIP last financial year, combined with our operating cash flow, will support our continued…

Latest StoriesRegulatory

Pune to Seize 58 Properties for Tax Defaults

PUNE: The Pune Municipal Corporation (PMC) has initiated the process of attaching 58 properties, primarily commercial establishments, belonging to tax defaulters to meet its financial goal for the 2025-26 fiscal year, according to civic officials on Wednesday. “The civic administration is emphasizing action against significant tax defaulters. Special teams have been deployed for these confiscations,” stated Ravi Pawar, head of PMC’s property tax department. Data from PMC indicates that around Rs 5,500 crore is yet to be recovered from defaulters. While activists have praised the crackdown, they urge PMC to take more stringent actions, such as filing criminal complaints against…

InfrastructureLatest Stories

Glada Demolishes Three Illegal Colonies in Ludhiana Areas

Representative AI image LUDHIANA: The Greater Ludhiana Area Development Authority (GLADA) has ramped up its efforts against unauthorized urban expansion by demolishing three illegal colonies in Manakwal and Mehmoodpura on Wednesday. This action was taken in accordance with a “zero-tolerance” policy set by Housing and Urban Development Minister Hardeep Singh Mundian and GLADA Chief Administrator Sandeep Kumar. Their goal is to halt the proliferation of unauthorized settlements that do not comply with state regulations for safety and infrastructure. GLADA’s regulatory team acted after developers reportedly disregarded several legal notices to cease construction. In a departure from previous operations which faced…

Latest StoriesRegulatory

SC aids Supertech buyers, upholds NCLAT order for NBCC takeover

NEW DELHI: The Supreme Court has intervened to assist thousands of frustrated homebuyers who have waited nearly two decades for their dream homes. On Thursday, the court upheld an NCLAT directive for the state-owned NBCC to swiftly complete 16 housing projects by the financially troubled realty firm Supertech Limited. The court has prohibited all tribunals and high courts from issuing orders that could hinder construction efforts by the National Buildings Construction Corporation (NBCC) Limited. A bench, comprising Chief Justice Surya Kant and Justice Joymalya Bagchi, invoked its extraordinary powers under Article 142 of the Constitution, affirming the December 12, 2024,…

IndustryLatest Stories

₹3,000 Crore Allocated for Western UP Townships

LUCKNOW: To address the growing need for affordable housing in western Uttar Pradesh, the state government has allocated nearly Rs3,000 crore. This funding will assist families in Agra, Mathura-Vrindavan, Moradabad, and Bagpat, as new townships equipped with modern amenities are set to be developed in these cities. One township will be established in Agra, Moradabad, and Bagpat, while Mathura, a popular religious site, will receive two township projects. Approved in January, the funds are aimed at accumulating the necessary land for the township developments. Local housing development authorities submitted proposals to the housing department last year, requesting initial capital under…