Category: Latest Stories

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IndustryLatest Stories

390 Nagpur Mixed-Occupancy Buildings; 139 Unsafe After Audit

NAGPUR: The rise of mixed-use buildings has become one of Nagpur’s most pressing fire hazards, highlighted by recent incidents at Reliance Fresh Mart in Laxmi Nagar’s Aath Rasta Square and Mini Punjab Hotel in Dharampeth. These events underscore the serious risks faced by residents living above commercial businesses. The Nagpur Municipal Corporation (NMC) fire and emergency services has initiated a review following a citywide audit that found widespread safety violations. The audit assessed 390 mixed-occupancy buildings, revealing that 186 lacked fundamental fire safety features like alarms, extinguishers, hydrants, and emergency exits. Additionally, 139 structures were deemed unsafe for habitation, and…

IndustryLatest Stories

Della Group targets ₹700 crore revenue, ₹450 crore EBITDA by FY27

NEW DELHI: The Della Group expects its revenue to reach around ₹700 crore by FY27, supported by a transformative operational strategy and rapid expansion into its proprietary real estate model. This represents a substantial increase from the ₹200 crore revenue recorded in FY25, mainly derived from its resort operations in Lonavla. The company, led by founder and director Jimmy Mistry, is actively launching a new framework for integrated townships across India. Delivery is structured using a conceptualization, design, development, marketing, sales & operations (CDDMO) model, partnering with land-owning developers. “It’s an asset-light model that enables partners to unlock greater value…

Latest StoriesResidential

Khar Kolis to Bombay HC: Fish Drying Land Favoring Builders

MUMBAI: Two societies representing the Koli community in Danda Koliwada, a fishing village in Khar, have filed a petition against the Bombay High Court regarding an order from the Slum Rehabilitation Authority (SRA) that classified part of their land, currently used for drying fish and related activities, as a slum rehabilitation area. The Danda Koli Masemari Vyavasayik Sahakari Maryadit and Danda Koli Samaj are contesting the SRA CEO’s order dated May 17, 2022, concerning 3,450 sqm of land that is reserved for a fish drying yard under the approved development plans (DPs). “Including such reserved land in a slum rehabilitation…

InfrastructureLatest Stories

Extend Airport Metro to New Gurugram, RWAs urge minister

GURUGRAM: Representatives from RWAs in new sectors met Union Minister Rao Inderjit Singh on Monday, advocating for the extension of the Delhi Airport Metro line to new Gurgaon, which would serve sectors along the Dwarka Expressway corridor. They also requested bus services to connect Gurgaon with Yashobhoomi and Dwarka Sector 24 to improve last-mile connectivity for daily commuters. RWA representatives highlighted that despite rapid urbanization and increasing population density along the Dwarka Expressway, transport options remain limited. Improved connectivity, they argued, would alleviate reliance on private vehicles and enhance access to Delhi and the airport for residents. “Currently, there is…

Latest StoriesRegulatory

SC to Hear ED’s Plea on Illegal Arrest of Vasai-Virar Chief

NEW DELHI: The Supreme Court has agreed to hear a petition from the Enforcement Directorate (ED) challenging a Bombay High Court ruling that deemed the arrest of former Vasai-Virar civic body chief Anil Pawar in a money laundering case as “illegal”. The ED arrested Pawar on August 13 in connection with the case. According to the ED, illegal constructions were made, involving the development of 41 buildings between 2008 and 2010 by the accused builders and developers in collusion with City and Industrial Development Corporation of Maharashtra officials. The ED’s appeal against the high court’s order from October 15 was…

IndustryLatest Stories

Axis Bank to Sell ₹511-Crore Lavasa Corp Debt

Axis Bank has become the first creditor to seek buyers for its outstanding exposure to the financially troubled Lavasa Corp, while other lenders are still evaluating their options due to the ongoing litigation issues tied to the resolution process. On Monday, Axis Bank listed its ₹511 crore claims for sale with a reserve price of ₹80 crore, available on an all-cash basis. As the fifth-largest creditor to the distressed private hill city, Axis is actively soliciting expressions of interest (EoIs) from asset reconstruction companies (ARCs), non-banking finance companies (NBFCs), and other financial institutions. The deadline for submitting documents is November…

Latest StoriesResidential

Delhi: Signature View Apartments to be Manually Demolished

NEW DELHI: The Delhi Development Authority (DDA) has decided to demolish the Signature View Apartments in Mukherjee Nagar using a conventional floor-by-floor method rather than the implosion technique used on Noida’s Supertech twin towers. Officials revealed that experts deemed the building’s structural quality extremely poor, making it unsafe to drill into weak walls for the insertion of explosives. The complex consists of 10 towers with stilt plus 10 stories and two towers with stilt plus six stories, surrounded by the SFS Flats Society and other residential and commercial properties. The demolition is set to commence soon as the DDA finalizes…

Latest StoriesResidential

70+ Plots Available in Raj Nagar Extension & Noornagar, Ghaziabad

Representative image GHAZIABAD: The Ghaziabad Development Authority (GDA) has initiated a residential plot scheme in Raj Nagar Extension and Noornagar as part of the Noornagar Housing Scheme. This project will make around 77 land parcels available for sale, varying in size from 60 to 221 sqm. The tendering process for the work is set to commence this week. According to a GDA official, the scheme will cover an area of 17,872 sqm. “We will begin external development in the area, allocating Rs 3.05 crore for road and sewer networks, along with an additional Rs 1 crore for electricity infrastructure and…

Latest StoriesRera

Cops Team Up with Karnataka-RERA Against Defaulting Builders

BENGALURU: In a significant step towards recovering over ₹750 crore in overdue payments from builders, the police department has agreed to deliver notices issued by the Karnataka Real Estate Regulatory Authority (K-RERA) to non-compliant developers. Homebuyers have repeatedly called upon K-RERA, the Revenue Department, and the state government to take firmer measures against builders accused of violating regulations, including delays in flat handovers. Documents obtained by Bangalore Mirror indicate that a recent meeting focused on establishing collaboration between K-RERA and the police for issuing these notices. Chaired by the Chief Secretary, the discussion explored the possibility of sending notifications through…

Latest StoriesResidential

YEIDA to Develop Housing Clusters for Heritage City

NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) is set to develop residential and commercial clusters in the Heritage City project at Raya, close to Mathura-Vrindavan, rather than a private developer as initially planned. The project will adopt a public-private partnership (PPP) model to enhance religious, cultural, and tourism infrastructure within the ₹7,200-crore hub of the Braj pilgrim circuit. The project, situated in the proposed Raya Urban Centre, will span 753 acres and feature a heritage-themed township, a 30 km Yamuna riverfront, and a 100-foot statue of Lord Krishna at its center. Additional proposals include wellness and yoga centers, hotels,…