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IndustryLatest Stories

Puravankara Q2 FY26 Pre-Sales Rise 4% to ₹1,322 Crore

NEW DELHI: Puravankara has announced pre-sales of ₹1,322 crore for Q2 FY26, reflecting a four percent increase from ₹1,270 crore in Q2 FY25. The average price realization rose by seven percent year-on-year, reaching ₹8,814 per sq ft in Q2 FY26. Additionally, customer collections for the quarter surged by eight percent year-on-year, amounting to ₹1,047 crore. Ashish Puravankara, the company’s managing director, stated, “In Q2 FY26, we maintained our growth momentum, primarily through sustained sales, achieving pre-sales of ₹1,322 crores and collections of ₹1,047 crores, both with year-on-year improvements.” In the first half of FY26, the company added over 6.36 million…

Latest StoriesRegulatory

ED Alerts Supreme Court to IHFL’s Financial Transaction Issues

NEW DELHI: On Wednesday, the Enforcement Directorate (ED) highlighted significant irregularities in the financial dealings of Indiabulls Housing Finance Ltd, now referred to as Sammaan Capital Ltd. This comes as an NGO informed the Supreme Court that the Ministry of Corporate Affairs (MCA) overlooked numerous corporate governance violations by IHFL, disregarding adverse reports from the market regulator, SEBI. Despite strong objections raised by senior advocate Harish Salve, representing Indiabulls, a bench comprising Justices Surya Kant, Ujjal Bhuyan, and N K Singh directed a ‘responsible officer’ from MCA to present original documents related to IHFL in court on November 19. The…

Latest StoriesRegulatory

HC Issues Notice to Goa’s Planning Dept on Building Rule Changes

PANAJI: The Bombay High Court on Thursday issued notices to the Town and Country Planning (TCP) Department and its scrutiny committee regarding amendments to the Goa Land Development and Building Construction Regulations, 2010. These changes enable the Goa government to approve applications for relaxations on height and floor area ratio (FAR) restrictions, diverging from the current standards outlined in the regulations. The division bench comprising Justices Bharti Dangre and Ashish S. Chavan issued the notice in response to a petition from the Goa Foundation and residents from Margao, Panaji, Chimbel, and Pernem. The petition challenges the building relaxations granted to…

Latest StoriesRegulatory

Builders face FIR for alleged fraud by Delhi firm

NOIDA: A Delhi-based company has accused representatives from two real estate firms of defrauding it of Rs 1.6 crore in a fraudulent property transaction involving Alphathum’s Noida World One project in Sector 90. A complaint filed by NWD Soft Infrastructure Pvt Ltd’s legal head, Sakshi Budhiraja, at Sector 142 police station claims that representatives from Bhutani Infra and CBS International misrepresented ownership of a commercial unit in Noida World One and diverted payments. An FIR has been filed against 11 senior executives—Gaurav Sharma, Rajesh Tandon, Sanjay Rastogi, Prem Bhutani, Aditya Raj Saxena, Naman, Naseem, Sakshi, Madhuri, Amit, and Anuradha Sharma—under…

IndustryLatest Stories

Punjab Forms Committee to Develop Real Estate Roadmap

CHANDIGARH: The Punjab government has established a sector-specific committee under the Housing and Urban Development Department to create a tailored transformation roadmap for the real estate sector. This initiative aims to foster structured collaboration between the government and the real estate industry. Punjab Housing and Urban Development Minister Hardeep Singh Mundian stated, “The committee was formed to provide policy inputs for a progressive, transparent, and investment-friendly real estate ecosystem in Punjab.” He emphasized that the goal is to develop a best-in-class policy model through active collaboration with key stakeholders. The committee is headed by Deepak Garg, Director of Marbella Group,…

Latest StoriesRera

Haryana RERA Requires Ireo to Pay 11% Interest to NRI Buyer

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRERA) has instructed Ireo Private Ltd to pay an annual delay interest of 10.8% to UK-based allottee Balraj Singh for failing to deliver possession of a plot in its Ireo City project in Sector 60 on schedule. Singh acquired a 314 sq-yard plot back in 2011 but was only offered possession in December 2021, with the actual handover occurring a year later, following multiple delays and a reduction in plot size. Since the project was approved in 2014 and the original delivery date was set for 2017, the Authority concluded that Singh experienced…

IndustryLatest Stories

Noida’s Land Dispute Resolved; Wave Mega City Centre Opens

NOIDA: After a decade-long impasse, the Noida Authority has successfully resolved issues surrounding prime land in the city. The land surrender and reallocation for the Wave Mega City Centre Pvt Ltd project has been finalized under UP’s project settlement policy. Initially allocated 6.2 lakh sqm in sectors 25A and 32 in 2011 for the Mega City Centre project, the developer has surrendered 5 lakh sqm, retaining 1.2 lakh sqm with approvals from both the state government and the Authority’s board on September 26. The Authority intends to utilize the reclaimed land for commercial development under a mixed-use category, instructing its…

CommercialLatest Stories

Crisil Signs 15-Year, ₹600 Crore Lease in Saki Vihar, Mumbai

Certainly! Here’s a rewritten version of the content: Rating agency Crisil Ltd has secured over 2.5 lakh sq ft of office space in the Saki Vihar area of Mumbai through a long-term lease. This agreement, amounting to nearly Rs 600 crore, stands out as one of the city’s largest single-tenant office deals in recent months. The new office spans six floors of the commercial tower Lightbridge, co-owned by the Hiranandani brothers. The lease, which begins on August 31, 2025, extends for 15 years. The location will be branded as Crisil House, Lightbridge, following the company’s identity at its headquarters in…

Housing FinanceLatest Stories

HFCs Gain NHB Support to Diversify Funding, Lower Loan Costs

MUMBAI: Housing finance companies (HFCs) are set to experience reduced borrowing costs following the National Housing Bank’s (NHB) approval of partial credit enhancement (PCE) for bonds they issue. This initiative aims to enable HFCs to pass on the benefits of lower funding costs to borrowers, particularly those in the affordable housing sector. In a letter dated October 6, the NHB notified housing finance companies that it would offer PCE on secured non-convertible debentures (NCDs) they issue, with the goal of helping them “diversify their funding sources” and “reduce reliance on banks.” The NHB stated that the facility would only be…

Latest StoriesResidential

Greater Noida Authority Fines Builder for Dirty Water Tank

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has collected water samples from the SKA Divya Towers Society in Sector 16, Greater Noida West, following reports from residents about illnesses due to suspected water contamination. On Wednesday, health department teams visited the society to carry out checks and set up a medical camp, as several residents reported stomach ailments, vomiting, and fever. However, only a small number attended the examinations, with only 16 residents showing up. “Our inspection team found few patients at the camp. We have documented the complaints and will take further actions based on the water testing…