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Latest StoriesRegulatory

I-T Raids on 30 Ahmedabad Sites Linked to Builders’ Cash Deals

AHMEDABAD: The income tax (I-T) department conducted a search on over 30 locations linked to two builder groups. This action was undertaken after a decoy from the department confirmed that the builders were accepting part of the payment for real estate in cash. The searches included corporate offices, construction sites, suppliers, and homes of key officials and promoters, involving over 100 I-T officials, as per sources. “The builders have multiple schemes around SG Road and beyond, and they have been under surveillance since Diwali. Initial findings indicate transactions worth crores have been uncovered,” sources revealed, noting that the search began…

Latest StoriesResidential

Arkade to Invest ₹2,500 Crore in 5 Mumbai Projects by 2026

NEW DELHI: Arkade Developers is set to invest approximately ₹2,500 crore in the development of five residential projects across the Mumbai Metropolitan Region (MMR) in 2026. The projects are planned for Goregaon, Thane, Borivali, Malad, and Santacruz, collectively boasting a gross development value (GDV) exceeding ₹3,700 crore. The total developable area across these five projects will be 4.41 million sq ft, with a saleable carpet area estimated at around 1.4 million sq ft. The company is currently engaged in developing over 5.5 million sq ft of real estate and has delivered more than 650 residential units in FY25. Published On…

IndustryLatest Stories

RMZ Plans $10 Billion Investment in Andhra Pradesh Over 5-6 Years

NEW DELHI: RMZ has reached an agreement with the government of Andhra Pradesh for an investment of around USD 10 billion into mixed-use, digital, and industrial infrastructure across the state over the next five to six years. The collaboration was revealed at the World Economic Forum Annual Meeting 2026 in Davos. As part of this partnership, RMZ will establish a Global Capability Center at the Kapuluppada Phase-1 IT Park in Visakhapatnam, with a potential built-up area of up to 10 million sq ft over roughly 50 acres. Furthermore, a hyperscale data center cluster is planned for the Visakhapatnam area, aiming…

Latest StoriesRegulatory

SC Overturns HC Order for CBI Probe in Ambience Mall Case

NEW DELHI: The Supreme Court has annulled a Punjab and Haryana High Court order that mandated a CBI investigation into the alleged illegal conversion of residential land for the construction of the Ambience Mall in Gurugram, Haryana. Claims were made that 18.98 acres of land on the Delhi-Jaipur national highway, designated for the Ambience Lagoon Island Residential Complex, was reduced to 7.9 acres, with a commercial complex taking over the remaining land. The top court deemed the high court’s directive for the CBI to file an FIR as unnecessary, stating it was based on unverified and inconclusive evidence. Justices J.B.…

IndustryLatest Stories

Realty Investment Hits ₹69,000 Crore in UP, Up 53%: RERA Chief

NEW DELHI: The real estate sector in Uttar Pradesh has experienced a remarkable 53% increase in investments, soaring to ₹69,000 crore in 2025, as reported by UP RERA Chairman Sanjay R Bhoosreddy on Tuesday. Bhoosreddy attributed this growth to the state’s investor-friendly policies, which also led to a noticeable uptick in RERA applications for new projects during the ICC Real Estate Summit 2026 in the national capital. “Investment in the real estate sector was ₹29,000 crore in 2023, driven primarily by real estate promoters. This figure rose to ₹45,000 crore in 2024 and has further increased to ₹69,000 crore this…

Latest StoriesRegulatory

SC Urges Delhi Court to Consider CBI Charges on Builders-Banks Nexus

NEW DELHI: The Supreme Court directed a special CBI court to take cognizance within two weeks of three chargesheets filed by the agency concerning the “unholy nexus” between banks and developers that has defrauded homebuyers in NCR, and to proceed with the trial. A bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi was informed by Additional Solicitor General Aishwarya Bhati, representing the CBI, that significant progress in investigating all 25 homebuyer cases would be achieved by March. Last July, the court permitted the CBI to initiate 22 cases regarding the nexus between banks and…

IndustryLatest Stories

EAAA India Submits ₹1,500-Crore IPO Papers to Sebi

NEW DELHI: EAAA India Alternatives, a division of Edelweiss Financial Services, has submitted preliminary documentation to the market regulator Sebi to raise ₹1,500 crore through an initial public offering (IPO). The planned issuance will be completely an offer-for-sale (OFS) by Edelweiss Group, as outlined in the draft red herring prospectus (DRHP) filed on Monday. Consequently, the company will not receive any funds from the IPO; the entire amount will be directed to the selling shareholder. Founded in 2008, EAAA India Alternatives ranks among India’s top alternatives platforms, boasting over 15 years of expertise in managing long-term, patient capital. As of…

Latest StoriesResidential

Lucknow: Anantnangar Scheme Lottery Set for January 30

LUCKNOW: The lottery for plot allotment under the Lucknow Development Authority’s (LDA) Anant Nagar housing scheme will take place on January 30 and 31 at the Indira Gandhi Pratishthan. The third phase received an enthusiastic response with 7,429 applicants vying for 637 plots. LDA officials noted that applications were accepted for 617 plots in Akash Khand and 20 plots in Adarsh Khand. In this third phase, plots are available in five size categories. These include 41 plots of 450 square meters, 224 plots of 288 square meters, 225 plots of 200 square meters, 90 plots of 162 square meters, and…

InfrastructureLatest Stories

Gurugram: 83 Trees Cut for Illegal Buildings and Roads

Representative AI image GURUGRAM: The forest department has filed a report regarding violations in the Aravalis after a visit from TOI to Raisina Hills, which highlighted the construction of a road and buildings on protected forest land. This report follows a recent inspection conducted by the Haryana forest department in the Aravali region. Officials reported a total of 83 trees felled over two inspections. Divisional Forest Officer Raj Kumar stated, “On Jan 15, we returned to the area and discovered an additional 28 trees had been cut down. We previously issued a forest offence report (FOR) in September 2025 concerning…

CommercialLatest Stories

Thiruvananthapuram: QUAD Project Construction Starts in Technopark IV

THIRUVANANTHAPURAM: The construction of the QUAD project—an integrated IT township in Technopark Phase-IV (Technocity)—has officially begun. The initial phase includes the development of an 800,000 sq ft IT building, managed directly by Technopark and constructed by Consolidated Construction Consortium Ltd (CCCL). Slated for completion in 36 months, it is projected to create around 26,000 direct jobs in its first phase, solidifying the city’s status as an IT hub in southern India. A senior official from Technopark stated, “This construction launch at the QUAD site marks a pivotal moment for Technocity. The project embodies our long-term vision to create a live-work-play…