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Latest StoriesRegulatory

Ghaziabad HC Sets Land Rates for Indirapuram Farmers, Resolves 20-Year Issue

GHAZIABAD: The Ghaziabad Development Authority (GDA) is mandated to provide higher compensation to 35 farmers from Mohiddinpur Kanavani village in accordance with the Land Acquisition (Rehabilitation & Resettlement) Act, 2013, for land designated for the Indirapuram Extension township. In a ruling on October 17, the Allahabad High Court instructed the GDA to pay up to twice the prevailing circle rate of 2014. The land acquisition dispute dates back to 2004 when the GDA announced plans to acquire 229 acres. Farmers challenged the move, demanding higher compensation than the Rs 1,100 per square meter offered by the GDA. In 2005, 225…

CommercialLatest Stories

MMRDA Seeks Bids for ₹1,629-Crore Wadala Lease

Representative image MUMBAI: The Mumbai Metropolitan Region Development Authority (MMRDA) is seeking bids for a prime commercial plot of 10,860 sq m (2 acres) in Wadala, with a reserve price set at Rs 1,629 crore. This initiative aims to monetize land outside the nearly fully occupied Bandra-Kurla Complex (BKC). The plot features a permissible built-up area of 1,08,600 sq m and a floor space index (FSI) of 10. The deadline for bid submissions is January 7, 2026. The tender represents MMRDA’s significant move to unlock the commercial potential of the Wadala Notified Area, which is envisioned as Mumbai’s third central…

Latest StoriesResidential

Thane Societies Accuse Rajshila Construction of FSI Misuse

MUMBAI: Five cooperative housing societies in Thane have filed a petition with the Bombay High Court, accusing the local builder, Rajshila Construction LLP, of unlawfully utilizing their floor space index (FSI) to construct new high-rise towers on land that is already developed and occupied. The petition, submitted by the Prestige Garden A-1, Prestige Garden A-2, Harmony, Ambience, and Prestige Garden B-1 & B-2 Cooperative Housing Societies, asserts that Rajshila Construction has misappropriated their property rights, while the Thane Municipal Corporation (TMC) improperly approved the developer’s plans for new projects. Rajshila Construction, founded in 2020 and registered under MahaRERA for a…

InfrastructureLatest Stories

Twelve Illegal Houses Razed in Ujjain’s Begambagh Area

Representative image UJJAIN: On Wednesday, the Ujjain Development Authority, supported by an administrative team and the municipal corporation, successfully demolished 12 illegal houses across three plots in the Begambagh area, near the Neelkanth Gate of Mahakal Temple. The properties, owned by the Ujjain Development Authority, were leased for residential use for a period of 30 years. CEO Sandeep Kumar Soni explained, “This action follows the dismissal of the stay by the honorable courts. Although these plots were allocated for residential purposes, they were being used commercially. Moreover, the lease has expired and could not be renewed, prompting this demolition.” The…

IndustryLatest Stories

Navi Mumbai: ₹2,120 Cr Bid for 10-Acre Kharghar Plot

Representative image NAVI MUMBAI: A recent Cidco tender for a 10-acre (42,000 square meter) plot in Kharghar’s Sector 23 attracted a record bid of Rs 2,120 crore, approximately Rs 5 lakh per sq m, from Aakar Developers. Aakar group is required to pay 50% of the total amount to Cidco within the next three months. Real estate analysts believe this marks the largest land transaction since the previous sale at Nerul-Seawoods for Rs 1,800 crore. Local developer Manohar Shroff noted, “Kharghar has consistently been a promising area and has grown more appealing due to the Navi Mumbai airport, international universities,…

Latest StoriesRegulatory

SC Sets Dec 5 Deadline for Jaypee Infratech Claims

NOIDA: The Supreme Court has given Jaypee Infratech homebuyers a deadline of December 5 to either request refunds or apply for flat allotments. This directive was issued on November 3 by Justices Sanjay Kumar and Alok Aradhe, instructing all outstanding claimants to reach out to Suraksha Realty Limited, the current overseer of the delayed Jaypee projects, with no additional extensions expected. The court also mandated Suraksha Realty to make a public announcement regarding this cut-off date, which it did by Thursday. “Many homebuyers are still presenting claims for refunds or flats. Suraksha Realty Limited is prepared to accept refund claims…

IndustryLatest Stories

HCC Q2 FY26 Net Profit Drops 25% to ₹47.78 Crore

NEW DELHI: Hindustan Construction Company (HCC) announced a consolidated net profit of Rs 47.78 crore for the September quarter, reflecting a decline of 25.26%. In the same period last year, the company reported a profit of Rs 63.93 crore, according to a regulatory filing. During the July-September timeframe, its consolidated revenue decreased to Rs 983.25 crore from Rs 1,432.41 crore a year prior. HCC’s consolidated expenses also fell, coming in at Rs 938.72 crore compared to Rs 1,350.09 crore last year. The company has successfully secured three new orders, including two packages for Patna Metro and an expansion project for…

CommercialLatest Stories

Smartworks Narrows Q2 FY26 Loss to ₹3 Crore

NEW DELHI: Smartworks Coworking Spaces Ltd has successfully reduced its consolidated net loss to Rs 3.13 crore in the second quarter of the fiscal year, primarily due to increased expenses. The company reported a net loss of Rs 15.82 crore during the same quarter last year. Total income rose by 22% to Rs 441.06 crore in the July-September quarter, compared to Rs 360.84 crore during the equivalent period last year, as stated in a recent regulatory filing. Neetish Sarda, Founder & Managing Director of Smartworks, commented, “Our Q2 outcomes highlight the robustness and scalability of our managed campus model. With…

IndustryLatest Stories

Embassy Developments Reports ₹152.61 Crore Loss in Q2 FY26

NEW DELHI: Embassy Developments (EDL) disclosed a net consolidated loss after tax of ₹152.61 crore for the quarter ending September 30, 2025, as per their BSE filing. Their net consolidated income for Q2 FY26 was ₹536.90 crore. For the quarter and the half-year, the company secured ₹44.99 crore and ₹1,205.64 crore respectively in share warrant money, with shares allocated accordingly. Furthermore, during this quarter, they received an additional ₹7.10 crore in share warrant money, pending share allocation. “All ongoing projects are on track, with the successful completion of two legacy developments in Vizag and Thane. This progress will soon reflect…

Housing FinanceLatest Stories

Bajaj Housing Finance Q2 FY26 Net Profit Rises 17.84%

NEW DELHI: Bajaj Housing Finance has announced a 17.84% increase in net profit for the quarter ending September 30, 2025. The profit after tax reached ₹642.96 crore for Q2 FY26, compared to ₹545.60 crore during the same quarter last year, according to a filing with the BSE. The company’s net total income for Q2 FY26 was ₹2,755 crore, marking a 14.30% growth from ₹2,410.24 crore reported in the previous year’s corresponding quarter. As of September 30, 2025, the net worth stood at ₹21,169.67 crore, with a debt-equity ratio of 4.44. Total debts to total assets was 0.8, net profit margin…