Category: Latest Stories

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IndustryLatest Stories

Delhi’s Drone Property Survey Pilot Project to Launch Soon

NEW DELHI: The Municipal Corporation of Delhi (MCD) is initiating a pilot project utilizing drones and advanced mapping technologies to enhance property tax assessment. Officials note that this initiative aims to identify properties that have not been assessed or are under-assessed, thereby addressing revenue losses. This pilot project follows the signing of memorandums of understanding (MoUs) with four agencies on June 2, under the “Pilot Drone-based Geospatial Survey and Digital Twin Initiative.” The agencies will independently carry out surveys employing drone-based aerial imagery, LiDAR mapping, GIS asset mapping, Digital Twin technology, 3D city modeling, and advanced data analytics, with no…

IndustryLatest Stories

Delhi CM Orders Probe into Stamp Duty Evasion via GPAs

NEW DELHI: Chief Minister Rekha Gupta has issued stringent orders to address the misuse of power of attorney aimed at avoiding stamp duty. She instructed that all power of attorney documents executed for non-blood relations be reviewed and decisions made by stamp collectors in Delhi within 30 days. This initiative is expected to mitigate revenue loss in immovable property registrations and tackle the land mafia along with irregular practices observed in sub-registrar offices, according to a statement from the Chief Minister’s Office. The General Power of Attorney (GPA) documents granted in favor of individuals outside immediate family (parents, spouses, children,…

IndustryLatest Stories

OC Amnesty Scheme for Pre-2016 Mumbai Buildings Approved

MUMBAI: The BMC standing committee has approved an amnesty scheme to issue occupation certificates (OCs) for buildings where families reside but lack these documents. Just under two weeks ago, the committee members requested a review of the scheme. On June 25, the committee called for clearer guidelines, accountability for developers and architects, and the inclusion of corporators’ feedback prior to endorsing the proposal. The proposal, originally presented in April, faced delays due to concerns over a clause limiting eligibility to housing units up to 80 sq m (860 sq ft). BJP Leader of the House Ganesh Khankar highlighted that ordinary…

InfrastructureLatest Stories

DPCC Launches Dust Portal 2.0 for Better Pollution Monitoring in Delhi

Representative AI image NEW DELHI: The Delhi Pollution Control Committee (DPCC) has announced that all construction and demolition projects must submit regular compliance reports, install air quality sensors, and provide live camera feeds for real-time monitoring as part of the upgraded Dust Portal 2.0. To enhance oversight of dust pollution from construction activities, the DPCC has released a user manual for the new version of its Dust Pollution Control Self-Assessment Portal. All construction and demolition projects occupying a plot of 500 square meters or more are mandated to register on the platform, which aligns with directives from the Commission for…

IndustryLatest Stories

NCW Closes PRIME Offices Fund at ₹4,000 Crore

Representative AI image NEW DELHI: Nuvama and Cushman & Wakefield Management (NCW), a 50:50 joint venture between Nuvama Asset Management and Cushman & Wakefield, has successfully closed its PRIME Offices Fund with a corpus of approximately ₹4,000 crore. The fund, initially launched with a target of ₹3,000 crore, saw its size increase in response to investor interest and opportunities in India’s office market. Currently, the fund has allocated about 45% of its capital towards its office investment strategy. Designed to offer Indian investors access to high-quality commercial office assets, the PRIME fund’s portfolio includes over 70 occupiers, with more than…

Latest StoriesRegulatory

ED Raids Builders in Delhi-NCR Over ‘Subvention Scheme’ Fraud

NEW DELHI: The Enforcement Directorate (ED) conducted searches at various locations in Delhi-NCR on Wednesday as part of a money laundering investigation linked to alleged fraud involving homebuyers with subvention schemes, officials reported. At least five premises associated with three companies—CHD Developers Ltd., Ninex Developers Ltd., and Manju J Homes (India) Ltd.—were raided under the Prevention of Money Laundering Act (PMLA). The companies were not immediately reachable for comment. The ED’s investigation arises from three FIRs filed by the Central Bureau of Investigation (CBI) in 2025 under the Supreme Court’s direction. The CBI found that builders allegedly misled homebuyers and…

IndustryLatest Stories

WSB Partners Invests ₹75 Crore in Sowparnika Projects

Representative AI image NEW DELHI: WSB Partners has made a ₹75 crore investment in Sowparnika Projects to aid in the developer’s expansion within Bengaluru. This marks WSB Partners’ ninth investment in the company, with the funds primarily allocated for growth capital. In the past four years, WSB Partners has invested over ₹500 crore across six transactions with Sowparnika, involving six residential projects focused on mid-income housing in Bengaluru and other southern markets. According to Ramji Subramaniam, managing director of Sowparnika Projects, this latest investment will enhance the company’s financial flexibility and bolster its growth objectives in Bengaluru. Published On Jul…

Latest StoriesRegulatory

NGT Requests CAQM Feedback on Builder’s Closure Notice Appeal

NEW DELHI: The National Green Tribunal has requested responses from the Commission for Air Quality Management (CAQM) in the National Capital Region and surrounding areas regarding an appeal from a Haryana-based construction firm contesting a closure notice. The tribunal was addressing a plea from Ramakrishna Buildwell Pvt Ltd, which challenged the closure notice issued by CAQM on April 30 of this year. On July 6, a panel led by NGT Chairperson Justice Prakash Shrivastava and expert member Afroz Ahmad noted that the company’s advocate mentioned the closure notice had previously been disputed in the Punjab and Haryana High Court, which…

IndustryLatest Stories

Dharavi Phase I Redevelopment to Finish in 18 Months: Deputy CM

MUMBAI: On Tuesday, Maharashtra Chief Minister Devendra Fadnavis stated that the Dharavi Redevelopment Project is more than just a housing scheme; it represents an economic transformation. He confirmed that the first phase of approximately 10,000 homes is set to be completed in the next 18 months. During the legislative assembly session, Fadnavis highlighted that eligible residents will be rehabilitated on-site, while others will be offered homes at nearby locations. Additionally, he mentioned that the state has identified 19 cluster redevelopment projects across Mumbai as part of its urban renewal strategy. The Dharavi Redevelopment Project aims to transform Asia’s largest slum…

Latest StoriesResidential

Assam to Build 200,000 PMAY-G Houses in 100 Days

GUWAHATI: The Assam government plans to complete two lakh houses under the PMAY-Gramin scheme within the next 100 days, according to a minister’s statement on Wednesday. In response to Congress MLA Tanzil Hussain’s query, Panchayat and Rural Development Minister Atul Bora noted that since 2016, 22 lakh houses have been built statewide under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G). “In the next 100 days, our target is to complete two lakh new houses and distribute them to the community,” stated Bora. Hussain raised concerns regarding potential irregularities in the ‘geo-tagging’ process of the houses and called for an investigation. Bora…