Category: Latest Stories

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Latest StoriesResidential

Hiranandani Expands into Senior Living with 1M Sq Ft in Chennai

Representative Image NEW DELHI: Hiranandani Communities, part of the Niranjan Hiranandani Group, has partnered with GTB Group to venture into the senior living sector. The Elements project, covering 4.5 acres, has a development potential of one million sq ft and will be situated in Hiranandani Parks, Oragadam—a planned township in Chennai. The estimated total project value is ₹300 crore and will be executed in two phases. It is set to include 400 residences, with prices starting from ₹60 lakh. Niranjan Hiranandani, founder and chairman, commented, “The Hiranandani Parks, Oragadam township aims for an ambitious topline revenue of ₹4,000 crore, as…

Latest StoriesRera

Odisha REAT Fines Developer for Unfair Trade Practices

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) recently issued a groundbreaking ruling, referencing Shakespeare’s notorious moneylender Shylock from *The Merchant of Venice*, and imposed a fine of ₹10 lakh on a real estate developer. The tribunal was reviewing an appeal from the promoter of a large real estate project situated in Cuttack alongside NH-16. The tribunal criticized the developer’s actions as “dubious,” accusing them of “unfair trade practices” against the buyer. The appeal was made by the project promoter contesting an earlier ruling by the Odisha Real Estate Regulatory Authority (ORERA). The complainant had paid over ₹3.19 crore for…

Latest StoriesResidential

Maharashtra CM to distribute 423 flats to police families

MUMBAI: Following the key handover at Worli BDD chawl flats, CM Devendra Fadnavis will distribute keys to 864 flats at the Naigaum BDD chawls in Dadar. This ceremony will take place at Shanmukhananda Hall on Wednesday, where five wings consisting of 22 storeys each have been completed. Out of the 864 flats, 423 will be allocated to police families who have lived here as tenants for generations. In total, there are 2,250 tenements owned by the Mumbai police commissioner, soon to be granted as ownership to the police families who have long resided there. Each police family will need to…

CommercialLatest Stories

Germany’s Bernhard Schulte Acquires Mumbai Office Space

Global maritime giant Bernhard Schulte Shipmanagement (BSM) has acquired a custom-built six-floor office space in the Kalpataru Virtus project, located at the LBS-JVLR junction in Mumbai’s Vikhroli suburb, for more than Rs 304 crore, according to sources familiar with the matter. This acquisition, finalized on Thursday, represents one of the largest office space purchases by an international shipping company in India. “This new office will become BSM’s headquarters in India, bringing together its ship management, crewing, technical, and digital operations, while also allowing room for growth,” stated one insider. The company has acquired approximately 1 lakh sq ft of office…

Latest StoriesRera

MahaRERA Boosts Efficiency with Hybrid Mode Hearings

NAGPUR: The Maharashtra Real Estate Regulatory Authority (MahaRERA) is now facilitating both physical and digital hearings for complaints, adhering to a directive from the Bombay High Court. This initiative enhances the convenience and transparency of housing dispute resolutions. Attendance has notably risen, as complainants and relevant parties across Maharashtra can opt for in-person or remote participation via secure video conferencing platforms. MahaRERA, the governing body enforcing the Real Estate (Regulation and Development) Act in the state, has adopted a hybrid model for hearings. This allows parties to choose between physical presence and virtual attendance, as per the Bombay High Court’s…

Latest StoriesRera

Developer Must Address Andheri Building Defects: MahaRERA

Here’s a rewritten version of the content you provided: MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has ordered a developer in Andheri East to correct all structural defects in a building, particularly in the communal areas, following grievances from the building’s co-operative housing society. The society, represented by lawyer Anil D’Souza, reported several issues, including substandard construction, leaks in common areas and terrace water tanks, as well as fungal damage to doors in Vasant Oasis Jolan, building number 14. Homebuyers purchased their flats between 2011 and 2020, and after the project was handed over to the society in early…

Latest StoriesRegulatory

FIR Filed Against Logix Buildestate & Ace Group Over Assault Claims

NOIDA: Authorities filed a First Information Report (FIR) against two developers for alleged intimidation and violence after a farmer accused individuals associated with them of forcibly taking over his agricultural land and attacking family members during a confrontation late at night in the Rabupura area along the Yamuna Expressway. Pramod, a resident of Raunija village, stated that the 0.9-hectare land parcel, recorded under kasra number 63 in Shahpur, has been farmed by his family “for generations.” This land was designated for an Ace Estate project near the upcoming Noida International Airport; however, its acquisition by the Yamuna Expressway Industrial Development…

IndustryLatest Stories

Saira Banu: Dispute settled, police close case on builder

MUMBAI: The Economic Offences Wing (EOW) of the police has closed a case of cheating and forgery filed by actress Saira Banu Khan against builder Sameer Bhojwani and others. The complainant indicated that the matter arose from a “misunderstanding” and has since been amicably resolved. The general cheating branch of the EOW submitted a C-summary closure report to a magistrate last week, which was accepted. A C-summary closure signifies that a criminal case was initiated due to a mistake of facts, or that the alleged offense is of a civil nature, rendering the police report neither entirely true nor false.…

Latest StoriesRera

Karnataka RERA Orders Registration of Delayed Bengaluru Layouts

BENGALURU: In a significant development for homebuyers who have awaited possession of plots for nearly a decade, the Karnataka Real Estate Regulatory Authority (K-Rera) has ruled that the Bangalore Development Authority (BDA) must be classified as a “promoter” under the Real Estate (Regulation and Development) Act, 2016. K-Rera has instructed the BDA to register the long-overdue Nadaprabhu Kempegowda Layout (NPKL) within two weeks and to justify why penalty proceedings should not be initiated for selling sites without the necessary Rera registration. The ruling, issued on November 7 by a two-member bench, followed multiple complaints from allottees who claimed that the…

CommercialLatest Stories

WeWork India Q2 FY26 Profit Drops to ₹6.4 Crore

NEW DELHI: WeWork India Management Ltd has reported a significant decrease in consolidated net profit to Rs 6.4 crore for the quarter ending in September, mainly due to a high base effect. In the same quarter last year, net profit was Rs 203.74 crore, boosted by a deferred tax credit. Total income climbed to Rs 585.54 crore for the July-September period this fiscal, up from Rs 499.47 crore during the same timeframe last year, as per a regulatory filing. Since its inception in 2017, WeWork India has provided flexible workspace solutions to corporations and operates in eight major cities with…