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IndustryLatest Stories

Maharashtra CM Approves BSNL, MTNL Land for PMAY Housing in Borivali

Representative AI image MUMBAI: On Friday, Maharashtra Chief Minister Devendra Fadnavis sanctioned the acquisition of land from Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL) in Borivali to facilitate affordable housing under the Pradhan Mantri Awas Yojana (PMAY). This decision was made during a meeting of the Maharashtra Housing Development Authority, chaired by the Chief Minister at the Sahyadri Guest House, according to official sources. A total of 28.84 acres of land—owned by BSNL in Gorai and MTNL in Shimpoli—will be acquired at ready reckoner rates amounting to Rs 729 crore, as stated in a government release.…

Latest StoriesRegulatory

SC orders Nowhera to surrender in a week, ties bail to deeds

File Photo HYDERABAD: On Wednesday, the Supreme Court directed Nowhera Shaik, the chief of Heera Group, to surrender to the appropriate jail authorities within a week. The court warned that non-compliance would lead to the issuance of a non-bailable warrant. Furthermore, the possibility of future bail considerations will be contingent upon her cooperation in executing pending sale deeds. This directive stems from the court’s findings that Nowhera has failed to cooperate in executing 16 sale deeds for auction purchasers, despite the Enforcement Directorate (ED) having already received the full payment. The court described the situation as a large-scale fraud, involving…

IndustryLatest Stories

Godrej Properties’ FY26 Bookings Reach ₹34,171 Crore

NEW DELHI: Godrej Properties (GPL) announced bookings of ₹34,171 crore for FY26, reflecting a 16% increase compared to the previous year, as per the company’s operational update. During the fiscal year, the company sold 17,515 units, with total sales volume rising 5% to reach 27 million sq ft. The booking value for the March quarter amounted to ₹10,163 crore, showing a 21% sequential growth. Collections for FY26 saw a 17% increase to ₹19,965 crore, while operating cash flow rose by 5% to ₹7,830 crore. In Q4, quarterly collections reached ₹7,947 crore. Gaurav Pandey, MD & CEO of the company stated,…

IndustryLatest Stories

Jaiprakash Gaur Supports Adani’s Purchase of JAL Assets

NEW DELHI: On Friday, Jaiprakash Gaur, the founder of Jaypee Group, announced his endorsement of the Adani Group’s acquisition of his insolvent firm, Jaiprakash Associates Ltd (JAL). He expressed utmost trust in Gautam Adani’s capability to advance the group’s interests. This support comes shortly after Anil Agarwal of Vedanta Ltd claimed that Gaur preferred to see JAL under the stewardship of his mining company. Gaur stated, “I appreciate the fair and transparent process led by the Committee of Creditors and the Resolution Professional, thanking both the Adani and Vedanta Groups for their participation.” “The Committee of Creditors (CoC) has chosen…

IndustryLatest Stories

Vedanta questions metrics for Adani’s JAL bid selection

NEW DELHI: The Vedanta Group has raised concerns regarding the evaluation criteria used by the creditors of Jaiprakash Associates Ltd (JAL), which opted for a lower bid of ₹3,400 crore from Adani Enterprises for the financially troubled company. During a session at the National Company Law Appellate Tribunal (NCLAT), Vedanta’s counsel remarked that the “valuation process has compromised the commercial judgment” exercised by the committee of creditors (CoC). Senior advocate Abhijeet Sinha questioned whether the CoC’s evaluation matrix aimed at value maximization or served some other agenda. Sinha argued that the evaluation matrix, along with the resolution plan request (RFRP)…

Latest StoriesResidential

Ashiana Housing Acquires 28.55 Acres in Pune for Senior Homes

Representative image NEW DELHI: Ashiana Housing has acquired 28.55 acres of land in Pune to develop a senior living housing project, expected to generate revenue of approximately Rs 1,800 crore. The company confirmed in a regulatory filing: “We have acquired approximately 28.55 acres of land on an outright purchase basis in Pune, Maharashtra.” “This marks the largest land deal by our company for a Senior Living project. The estimated saleable area is 20 lakh sq ft, with a sales value potential of Rs 1,800 crore,” the filing added. Ankur Gupta, JMD of Ashiana Housing, mentioned that the company is aiming…

Latest StoriesResidential

Lucknow body to release 2,000 plots in new housing scheme

Representational AI image LUCKNOW: The Lucknow Development Authority (LDA) is set to launch the Varun Vihar housing scheme in June, offering approximately 2,100 plots in the Kailash and Kashi blocks during the first phase. This decision was made during a meeting chaired by Divisional Commissioner Vijay Vishwas Pant at the LDA headquarters on Thursday. The project spans 2,270 hectares along the Agra expressway, with land acquired through mutual agreement from villages in Sadar and Sarojininagar tehsils; around 853 hectares have received consent so far. LDA Vice-Chairman Prathamesh Kumar announced that online registration for the plots will commence following the official…

IndustryLatest Stories

Cyberabad commissioner urges builders to enforce site safety

HYDERABAD: G. Srijana, the commissioner of the Cyberabad Municipal Corporation (CMC), has called on builders and developers to strictly comply with construction standards, environmental guidelines, and legal requirements for all active and future projects. During a meeting with representatives from CREDAI, NAREDCO, and the Telangana Developers Association, the commissioner emphasized the need for proper safety measures at construction sites to ensure the protection of workers and the public. She also highlighted the necessity of controlling dust and air pollution through effective mitigation strategies. The commissioner stated that Partial Occupancy Certificates (OCs) should only be pursued once construction aligns strictly with…

IndustryLatest Stories

Mysuru body earns ₹156 crore from premium site sales

MYSURU: The Mysuru Development Authority (MDA) recently held an auction for premium commercial and residential sites, generating ₹156 crore in revenue from the sale of corner and intermediate plots. A total of 200 sites were auctioned, with 133 finding buyers. Successful bidders have three to four days to complete their payments; failure to do so will result in the forfeiture of their EMD amount. KR Rakshith, the commissioner in charge of the MDA, reported a strong turnout at the auction, noting that there was significant interest across Mysuru, excluding the Sathagalli area in northeast Mysuru. Around 33 of the 40…

IndustryLatest Stories

Nagpur’s civic body offers 15% rebate for property tax relief

NAGPUR: In response to strong taxpayer engagement, the Nagpur Municipal Corporation (NMC) plans to reintroduce property tax rebates of up to 15%. Officials noted that nearly 44% of property owners took advantage of this incentive last year. According to tax department data, out of 828,497 registered properties, 365,196 property owners utilized the rebate scheme from April 1 to December 31, 2025—showing a participation rate of approximately 44.1%. Officials believe this highlights the success of the incentive-driven strategy in enhancing compliance and increasing revenue. Out of the total, 147,560 property owners made payments online, contributing ₹61.54 crore and enjoying rebates between…