Category: Latest Stories

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InfrastructureLatest Stories

Bhubaneswar to Include 72 Villages in Civic Body Expansion

Representative AI image BHUBANESWAR: The Bhubaneswar Municipal Corporation (BMC) is planning to incorporate 72 revenue villages into its jurisdiction, following proposals from the villages expressing their consent for development. Sources indicate that with these additions, the BMC aims to expand its current administrative zones from three to six. Villages under consideration for inclusion are Dasapur, Gothapatna, Andharua, and Bhuasuni, among others. “We have received proposals from the villages. A communication will be sent to the housing and urban development department. Once approved, the process to add these villages to BMC’s area will commence,” stated BMC Commissioner Chanchal Rana. He mentioned…

CommercialLatest Stories

Knowledge Realty Trust’s NOI Rises 20% in H1 FY26

NEW DELHI: Knowledge Realty Trust has reported a 20% year-on-year increase in net operating income (NOI), reaching ₹19,544 million for H1 FY26, with NOI margins at 89%. In Q2 FY26, the company recorded a revenue of ₹11,238 million and an NOI of ₹9,881 million. A distribution of ₹6,900 million, or ₹1.56 per unit, was also announced. The firm successfully raised ₹16,000 million through AAA-rated listed non-convertible debentures (NCDs) with a 7.2% coupon rate. The company noted, “Debt refinancing, rate reductions, and low-cost NCDs have contributed to a reduced interest cost of 7.4% per annum, achieving annual savings of 120 basis…

InfrastructureLatest Stories

11 Illegal Buildings in Bengaluru Scheduled for Demolition

BENGALURU: Following numerous alerts regarding extensive building violations, the Bengaluru East City Corporation (BECC) has initiated the demolition of 11 illegal structures that deviate significantly from their approved plans. As per the additional commissioner (development), a building in Whitefield with several unauthorized floors is presently being demolished. “The demolition is progressing slowly as it is being conducted manually,” the official commented. Recently, the East Corporation carried out a survey of over 600 under-construction buildings, issuing notices under the Karnataka Town and Country Planning Act, 1961. While many cases are currently in litigation or postponed due to court stay orders, the…

IndustryLatest Stories

Saya Group Eliminates ₹1,500 Crore Debt

NEW DELHI: Saya Group has successfully eliminated around ₹1,500 crore in debt from various financial institutions and investors over the last five years. The debt reduction includes term loans, non-convertible debentures (NCDs), and guaranteed emergency credit line (GECL) facilities from prominent financial institutions such as IIFL Finance, Yes Bank, and 360 One. Vikas Bhasin, the company’s managing director, stated, “The reduction of ₹1,500 crore in debt over these years reflects our solid financial health, effective project management, and strong commitment to our stakeholders. With a healthy balance sheet and exciting new projects on the horizon, we are poised for our…

IndustryLatest Stories

Hubballi-Dharwad body safeguards non-NA site owners from harassment

HUBBALLI: The Hubballi-Dharwad Urban Development Authority (Huda) has launched a survey to identify non-NA (Akram-Sakram) properties that were developed without proper approval. This initiative is intended to protect the ownership rights of residents who have lived on such plots for 20 to 30 years. Huda officials have discovered that some heirs of original landowners are now demanding extra payments—ranging from Rs 50,000 to Rs 1 lakh or more—from residents who bought non-NA plots decades ago. Many residents acquired their properties through bond agreements rather than formal registration, putting them at risk of exploitation. Certain heirs are now claiming ownership of…

InfrastructureLatest Stories

Mohali RWAs Seek Completion of Promised Road in Master Plan

Representative Image MOHALI: Residents from Sectors 123, 124, and 125 have united to push for the long-delayed 200ft Master Plan Road from Dara Studio to Khanpur. Protesting under the 200 Ft Master Plan Road Sangharsh Committee on Sunday, they threatened to escalate their efforts if the government does not initiate construction. Chanting ‘No Road, No Vote’, the Residents’ Welfare Associations (RWAs) voiced their frustration, stating that thousands of families feel “stranded and cheated” after investing their life savings in homes and commercial properties, with the expectation that a crucial arterial road would be built as outlined in the GMADA master…

InfrastructureLatest Stories

Chandigarh Plans 17 New Sites for Construction Waste Disposal

CHANDIGARH: As construction and demolition (C&D) waste continues to rise in the city, the Chandigarh Municipal Corporation (MC) plans to create 17 new designated sites for waste disposal across various wards. Currently, the MC oversees around 20 designated sites, but officials assert that these are insufficient due to escalating construction activities, necessitating more collection points. The MC’s Building and Road (B&R) wing is actively identifying feasible locations for the new sites. Once selected, the proposals will be submitted to the urban planning department for necessary approvals, particularly related to land allocation. A recent letter to MC executive engineering officers states:…

IndustryLatest Stories

Gera Developments to Invest ₹16,000 Crore in Child and Wellness Projects

NEW DELHI: Gera Developments, based in Pune, is gearing up for a significant expansion with managing director Rohit Gera announcing an investment of approximately ₹16,000 crore in forthcoming residential projects over the next few years. This substantial investment will be evenly distributed between the company’s child-centric and recently introduced wellness-centric segments. In an exclusive conversation with Ankit Sharma, Gera shared insights into the company’s outlook, investment plans, product innovations, and financial strategies. He elaborated on the rationale behind preferring outright land purchases over joint ventures, detailed the phased project pipeline, and discussed how the wellness-centric model will enhance the existing…

InfrastructureLatest Stories

TCP to Notify on Plans Over 20,000 sq meters: Goa-SEIAA

Representative Image PANAJI: The Goa State Environment Impact Assessment Authority (Goa-SEIAA) has mandated that the Town and Country Planning (TCP) department and the planning and development authorities of North and South Goa must notify the Goa-SEIAA after approving any building plan with a built-up area exceeding 20,000 sqm. This measure aims to facilitate the verification of necessary environmental clearances, as discussed in a recent meeting. The Goa-SEIAA has also stipulated that it must inform the TCP department and the relevant PDA upon the approval of any project exceeding 20,000 sqm in built-up area. This issue came to light during an…

IndustryLatest Stories

South Goa Collector Enforces Tenant Verification Rules

Representative AI image MARGAO: The district magistrate of South Goa, Egna Cleetus, has issued an order mandating that all landlords, hotels, and accommodation providers verify the identities of their tenants and report these details to local police. This order, which takes effect on November 5, is in accordance with section 163 of the Bharatiya Nagarik Suraksha Sanhita, 2023. It requires verification via government-issued IDs such as Aadhaar cards, passports, and driving licenses, and applies to all types of accommodation including residential properties, hotels, guesthouses, beach shacks, and paying guest facilities throughout the South Goa district. In addition, nationalized banks are…