Category: Latest Stories

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CommercialLatest Stories

Chennai Body to Build Co-Working Spaces in George Town

CHENNAI: In response to the increasing workforce in lower-income neighborhoods, the CMDA plans to establish a co-working space for the Chief Minister on Wall Tax Road in George Town. The CMDA has issued tenders for the construction of a three-storey building that will provide at least 150 workstations across its first two floors. The third floor will feature a canteen and designated dining area. As per the tender details, the ground floor will include a lobby spanning 770 square feet. The first floor will accommodate a work terminal for 75 users within a 1,334-square-foot area, alongside a special lobby for…

IndustryLatest Stories

Noida & Ghaziabad Stamp Services Paused Nov 8-11 for Migration

NOIDA: Property registrations in Noida and Ghaziabad will be halted for four days next week as the Stamp and Registration Department’s online portal undergoes a significant server migration. The department’s operations will transition from the NIC-operated Meghraj cloud to the National Govt Cloud (NGC) from November 8 to 11, as directed by the inspector general of registration in Uttar Pradesh. Assistant Inspector General of Registration-II, Brijesh Kumar, stated that this temporary suspension is essential for enhancing efficiency and data security. He noted that the migration aims to bolster system reliability and facilitate quicker, safer online transactions in the future. “We…

InfrastructureLatest Stories

Nagpur’s Satellite Towns Tackle Urban Challenges

NAGPUR: Municipal council towns around Nagpur, including Butibori, Digdoh, Kamptee, Katol, Wadi, and Saoner, are preparing for elections alongside other local bodies. While smaller than the Nagpur Municipal Corporation (NMC) in scale, these areas grapple with urban challenges similar to those within city limits—congested roads, unplanned housing, strained water supply, and overloaded civic infrastructure. “These areas are fully urbanized, so their issues align directly with those of the Nagpur Municipal Corporation (NMC). We aren’t addressing farm-related concerns here,” stated Sameer Meghe, MLA from Hingna, which includes several of these councils like Butibori, Wanadongri, and Wadi. He emphasized that voters are…

Latest StoriesRera

Odisha REAT Affirms Homebuyers’ Rights in Landmark Ruling

BHUBANESWAR: In a significant ruling that supports homebuyers’ rights, the Odisha Real Estate Appellate Tribunal (OREAT) has dismissed an appeal from a local promoter, affirming the allotment of a flat to a buyer and deeming its cancellation as arbitrary and unlawful. The case involved a flat in a multi-storey residential development in Brahmeswarpatna. The buyer had already paid over Rs 60 lakh of the total Rs 70.68 lakh but was denied possession after the promoter unilaterally canceled the allotment, citing delayed payments. However, the tribunal determined that the buyer had adhered to the payment schedule outlined in the registered sale…

InfrastructureLatest Stories

Indore: 140 Houses Demolished in Malviya Nagar for Roads

INDORE: The Indore Municipal Corporation (IMC) has demolished portions of 140 houses on Street Number 2 in Malviya Nagar to facilitate road widening as part of the Master Plan. This extensive operation aims to remove obstacles for the MR-9 to LIG Link Road, which will function as a parallel route to Ring Road and AB Road between C21 Mall and LIG Square. The IMC deployed five earth movers and five excavators during this operation, successfully clearing the area needed for a 60-foot (18-meter) wide road. While some residents voiced their distress, others recognized the necessity of the broader road, confirming…

IndustryLatest Stories

Maharashtra Cabinet Makes 21 Decisions, Scraps Asset Firm

MUMBAI: In an unprecedented move, the Maharashtra cabinet made 21 decisions in its Tuesday meeting, which included the dissolution of the state’s asset reconstruction company, Maha ARC Ltd., and the approval of a Rs 2,000 crore HUDCO loan guarantee for a transport corridor. The decisions were made shortly before State Election Commissioner Dinesh Waghmare announced that elections for 246 municipal councils and 42 nagar panchayats in Maharashtra are set for December 2, with vote counting scheduled for December 3. An official statement from the Chief Minister’s Office (CMO) confirmed that the Finance Department’s proposal to close Maha ARC Ltd was…

Latest StoriesRegulatory

ED, IBBI Set New Standards for Restoring Assets to Cheated Homebuyers

NEW DELHI: The Enforcement Directorate (ED) announced that the assets of bankrupt companies and their promoters, which were previously attached under anti-money laundering laws, will now be returned to affected parties like banks or homebuyers. This follows the establishment of a new standard operating procedure, as stated by the federal probe agency on Wednesday. The Insolvency and Bankruptcy Board of India (IBBI) issued a circular on November 4 after extensive coordination meetings with ED officials. The coordinated efforts resulted in a “standard undertaking” to be submitted by Insolvency Professionals (IPs) to the special PMLA court for releasing ED-attached assets for…

IndustryLatest Stories

M3M India to Invest ₹7,200 Crore in Delhi Integrated City

NEW DELHI: M3M India is set to invest around ₹7,200 crore to create Gurgaon International City (GIC) on the Dwarka Expressway Link Road in New Delhi. This integrated township, spread over 150 acres with plans for expansion to 200 acres, is projected to generate a revenue of approximately ₹12,000 crore. Pankaj Bansal, the company’s promoter, stated, “Our vision is to draw global corporations and enterprises that epitomize future innovation and sustainable growth.” The initial phase of Gurgaon International City (GIC), covering 50 acres and already RERA-approved, will feature 300 plots. The development will comprise data centers, innovation parks, EV hubs,…

Latest StoriesRegulatory

NCLAT Denies Reliance Realty’s Appeal; Fast-Tracked Liquidation

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal from Reliance Realty, a subsidiary of the financially troubled Reliance Communications, which sought to reclaim rental payments and assets from Independent TV, a company in the DTH sector now undergoing liquidation. The NCLAT reaffirmed an earlier ruling from the Mumbai bench of the National Company Law Tribunal (NCLT) that rejected Reliance Realty’s request, emphasizing that the liquidation of Independent TV (formerly known as Reliance Big TV) must proceed swiftly and efficiently. A two-member panel stated that the liquidation should not be “disrupted and derailed by the Appellant…

IndustryLatest Stories

Embassy REIT Q2 FY26 Net Operating Income Up 15%

NEW DELHI: Embassy Office Parks REIT announced a 15% rise in its net operating income (NOI), reaching ₹927 crore for the second quarter of this fiscal year. The company’s revenue from operations increased by 13% year-on-year, totaling ₹1,124 crore for the July-September quarter, as per a regulatory filing. The Board of Directors of Embassy Office Parks Management Services Pvt Ltd declared a distribution of ₹617 crore, or ₹6.51 per unit, to unitholders for the second quarter of this fiscal year. The record date for this distribution is November 8, 2025, with payments scheduled on or before November 14, 2025. In…