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Latest StoriesRegulatory

Ahmedabad collects impact fee for two homes on govt land

AHMEDABAD: Officials from the Ahmedabad Municipal Corporation (AMC) have faced allegations of collusion and irregularities from a co-operative housing society in Ghatlodia ward. Society members claim that AMC officials in the North West Zone improperly collected impact fees for two houses constructed illegally on government land, falsely attributing them to their society. On December 22, 2024, the society members submitted an appeal to the Appellate Authority in Gandhinagar under the Gruda Act, 2022. The appeal, initiated by Natwarlal Panchal along with eight other society members, states that impact fees were unlawfully charged in May 2024 for the two homes built…

InfrastructureLatest Stories

Illegal Construction Soars in Raisina Hill: Walls, Roads Razed

GURUGRAM: Construction is thriving in the Raisina hills, despite the National Green Tribunal (NGT) ordering Haryana to dismantle illegal structures on protected Aravali lands. In response to ongoing activities, the forest department initiated another demolition drive, removing structures and boundary walls from approximately 25 acres. They also sealed a borewell and dismantled pillars at two sites that seemed to be intended for future construction. Forest officials also blocked four roads constructed to provide access to forest areas. This action was taken following repeated court orders prohibiting non-forest use on land classified as ‘gair mumkin pahad’ (uncultivable hill). The Raisina region…

IndustryLatest Stories

Goa: Town Planning Halts Carambolim Housing Project After Protests

PANAJI: In response to local protests, the town and country planning department issued a show cause notice and stop work order to the Carambolim panchayat on Tuesday. This halts construction of a large housing project that includes residential flats, commercial shops, a swimming pool, and a boundary wall until further notice, as reported by Lisa Monteiro. The department’s notice indicated that during a joint inspection on Monday, villagers raised concerns about the proximity of the proposed building to the existing crematorium, stating it did not comply with regulations. Villagers also highlighted that the planned access roads of 15m and 10m…

Latest StoriesRegulatory

Hyderabad: ED Files Supplementary Complaint in Sahiti Case

HYDERABAD: The Hyderabad unit of the Enforcement Directorate (ED) has submitted a supplementary prosecution complaint under the Prevention of Money Laundering Act (PMLA) against key figures involved in the Sahiti Infratec Ventures India Pvt Ltd (SIVIPL) fraud case. This complaint has been presented to the MSJ Court in Nampally, which acknowledged it on Monday. According to the ED, the complaint targets B Lakshminarayana, a former director, and S Purnachandra Rao, the marketing head of SIVIPL. Following an FIR filed by the Telangana police, the ED initiated a money-laundering investigation. The FIR claimed that SIVIPL and its promoters promoted a ‘pre-launch…

IndustryLatest Stories

Gurugram: Strict Checks on Building Code Violations in DLF 1-5

GURUGRAM: Following the directives of the Punjab and Haryana High Court, the Department of Town and Country Planning (DTCP) has initiated a thorough verification drive to investigate discrepancies in sanctioned building plans and occupation certificates within licensed plotted colonies across DLF phases 1 to 5. Official records indicate that a meeting took place on January 5, chaired by the district town planner (enforcement) to assess progress on the High Court’s order from November 26. This meeting followed the establishment of multiple inspection teams by the senior town planner in an official directive issued in December. In compliance with the court’s…

IndustryLatest Stories

Bengaluru Body Shifts to Apartment Projects for Land Efficiency

BENGALURU: The Bangalore Development Authority (BDA) is shifting its focus towards apartment developments over large plotted layouts, emphasizing enhanced land-use efficiency in urban areas. This shift raises concerns about the future of the BDA’s traditional housing model centered around plots. According to officials, projects comprising apartments facilitate quicker housing delivery and prevent land fragmentation. “While discussions are ongoing and we don’t anticipate an abrupt change, there will be a noticeable trend towards apartments for more efficient land use. Basic housing needs should not always mean a 30×40 plot. We are conscious of the demand for plots, but our priority remains…

IndustryLatest Stories

EAAA Alternatives Secures ₹2,500 Crore for Real Assets Fund

Alternative asset manager EAAA Alternatives has successfully secured over Rs 2,500 crore with the final closing of its multi-strategy real assets fund, marking a significant milestone as the first diversified platform in India’s domestic alternative investment sector. The Infrastructure and Real Assets Fund, officially categorized as a Category II Alternative Investment Fund (AIF), starts with a base corpus of Rs 1,000 crore and includes a greenshoe option of Rs 1,500 crore. The fund aims to diversify investments across various real asset sectors such as energy, transportation, warehousing, and structured deals including private infrastructure investment trusts (InvITs), thus establishing itself as…

CommercialLatest Stories

Wipro Leases 145,000 Sq Ft Office in Navi Mumbai’s Mindspace

Representative Image Information technology services leader Wipro has secured a significant office space of 1.45 lakh sq ft at an IT park in Navi Mumbai via a long-term lease. This move highlights the ongoing demand for efficient Grade A offices in suburban business districts. The space is leased at Mindspace Airoli East from Mindspace Business Parks, with a lease agreement registered on December 29 for a total duration of 60 months. The agreement sets a starting monthly rent of approximately Rs 97.25 lakh, equating to around Rs 67 per sq ft. A security deposit of around Rs 5.83 crore was…

InfrastructureLatest Stories

Construction Halted in Bhubaneswar, Cuttack from 6 PM to 10 AM

BHUBANESWAR: To combat air pollution, Environment Minister Ganesh Ram Singkhuntia announced on Tuesday that all construction activities in Bhubaneswar and Cuttack will be prohibited from 6 pm to 10 am. The district collectors of Khurda and Cuttack have been tasked with enforcing this directive. “All forms of construction work, whether private or government, are suspended in the twin cities during this timeframe. The National Highways Authority of India (NHAI) and the state Works Department have been notified,” he added. The Bhubaneswar Development Authority (BDA) and Bhubaneswar Municipal Corporation (BMC) have taken measures to alleviate air pollution in the capital. BMC…

Latest StoriesResidential

Ideal Cures’ promoters purchase two Worli apartments for ₹190 crore

Representative image. Suresh Pareek and Veena S Pareek, founders of Ideal Cures, a maker of pharmaceutical excipients, have purchased two luxury apartments in the upscale Worli area of Mumbai for over Rs 190.1 crore. The purchase, featuring two adjacent units on the 43rd floor of a premium residential tower, was officially registered on December 24. This move highlights the ongoing demand for high-end large-format homes in south and central Mumbai. The two apartments boast a combined RERA carpet area of 12,114 sq ft, resulting in an average rate of approximately Rs 1.56 lakh per sq ft, ranking among the top…