Category: Latest Stories

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Latest StoriesRegulatory

ED Seizes 34 More Properties Valued at ₹40 Crore in MUDA Case

NEW DELHI: The Enforcement Directorate (ED) has attached an additional 34 properties valued at over Rs 40 crore as part of its investigation into the Mysore Urban Development Authority (MUDA) land scam, bringing the total asset value attached to over Rs 440 crore. The investigation was initiated following an FIR filed by the Karnataka Lokayukta, focusing on a large-scale scam related to site allotments by MUDA officials. “The investigation uncovered a pattern of routing and layering of illegal payments received by GT Dinesh Kumar, former MUDA commissioner. The ill-gotten gains were used to acquire properties under the names of Kumar’s…

IndustryLatest Stories

Auro Realty Seeks $225M Bond in India for Acquisition Fund

MUMBAI: Auro Realty, the real estate division of Aurobindo Group, which also includes pharmaceutical producer Aurobindo Pharma, aims to raise ₹20 billion (approximately $225.41 million) via bond sales to finance a significant acquisition, according to two merchant bankers on Tuesday. The company plans to issue two-year and four-year bonds with coupon rates between 11% and 15%, the bankers noted. “This financing at the promoter level is intended for the acquisition of several assets, including Hotel Taj Banjara Hyderabad,” commented one of the bankers. The Auro Realty group has not responded to a Reuters email for further information, and the bankers,…

Latest StoriesResidential

Ashtech Group to invest ₹1,800 crore in Greater Noida West Project

NEW DELHI: Ashtech Group, known for its expertise in construction materials and infrastructure development, is entering the real estate sector with a substantial investment of ₹1,800 crore in a housing project located in sector 12, Greater Noida West. The housing project will be established on a fully paid 5.6-acre plot, which was procured from the authority for approximately ₹300 crore. Sumit Agarwal, director of the company, stated, “After achieving excellence in associated industries, now is the opportune moment to leverage our expertise in real estate development.” Published On Oct 8, 2025 at 09:53 AM IST Join the community of over…

Latest StoriesRegulatory

Karnataka HC Calls for State to Develop Plot Guidelines

BENGALURU: The Karnataka High Court has called on the State Government to create a comprehensive framework to regulate land transactions involving converted lands located outside sanctioned layouts. Justice Sachin Shankar Magadum, while reviewing a writ petition, noted that the increasing number of such transactions necessitates a clear regulatory structure. “With many buyers acquiring sites in converted lands not part of approved layouts, it is crucial for the State to develop a comprehensive scheme to manage these transactions,” the court asserted. The judge emphasized that unless the government establishes appropriate guidelines or a regularisation mechanism under Section 17(2B) of the Karnataka…

IndustryLatest Stories

Anant Raj Shares Drop 4% After QIP Launch, Floor Price at ₹695.83

Shares of Anant Raj Ltd experienced a decline, dropping by up to 4% to a low of Rs 708.40 on the NSE on Wednesday, October 8. This dip followed the company’s board decision to initiate a qualified institutional placement (QIP) of equity shares with a minimum price set at Rs 695.83 per share, representing a 5.5% discount relative to the previous closing price of Rs 736. The floor price aligns with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as stated in a regulatory filing from October 7. Anant Raj noted that the…

Latest StoriesResidential

Delhi Protest: 4,000 Members Demand Halt to Land Auction

NEW DELHI: Over 4,000 members of the Revanta Multi State CGHS Ltd Society marched to the DM (South West) office on Monday, urging a stop to the auction of their land designated for building flats. This sale was mandated by a Rera court. The society was established in June 2014 by two promoters and five others. Individuals were invited to join by paying a membership fee and purchasing land based on the planned size of the flats, with the understanding that they could settle the construction and development costs later. The total area owned by the society spans 44 acres…

Latest StoriesRera

Telangana RERA Fines Bhuvanteza Infra, Orders Customer Refunds

HYDERABAD: The Telangana Real Estate Regulatory Authority (TGRERA) has fined Bhuvanteza Infra ₹6.4 lakh and ordered a full refund to buyers affected by unregistered and delayed housing projects. In its ruling on September 30, the Authority found the company guilty of multiple infractions, including failure to register projects, misappropriation of customer funds, and not delivering possession. In one case, Raja Rao Bongu from Shamirpet claimed he was approached by representatives of Devas Infra Ventures Pvt. Ltd., later renamed Bhuvanteza Infra Projects Pvt. Ltd., to book a flat in the ‘Happy Homes Phase-2’ project during March-April 2021. Relying on their promises,…

IndustryLatest Stories

Maharashtra Cabinet OKs Slum Redevelopment Scheme for Mumbai

MUMBAI: On Tuesday, the Maharashtra Cabinet approved a scheme aimed at redeveloping slums in Mumbai into integrated housing projects that will improve living conditions and urban infrastructure. The Slum Rehabilitation Authority (SRA), a state agency, will implement this redevelopment initiative, which is designed to accelerate large-scale slum redevelopment and enhance urban infrastructure in the financial capital. According to a statement from Chief Minister Devendra Fadnavis’s office after the Cabinet meeting, the scheme will transform slum clusters into integrated housing developments, thereby providing improved living conditions and creating opportunities for private investment and construction activity. This initiative is expected to generate…

Latest StoriesResidential

Panchkula’s colony rehab plan stalled, awaiting govt approval

PANCHKULA: In the lead-up to the upcoming MC elections, the three colony rehabilitation initiatives approved by the Panchkula municipal corporation six months ago have failed to progress. The land in question is owned by the Haryana Shehri Vikas Pradhikaran (HSVP) and the forest department, leaving the MC without authority to make any decisions. No final approvals have been provided, and action must come from the relevant departments. Excitedly, MC Mayor Kulbhushan Goyal previously announced a proposal to regularize illegal colonies by offering one-marla residential plots at collector rates from 2004 to families who have resided there for over 20 years.…

IndustryLatest Stories

Lodha Developers’ Q3 pre-sales rise 7% to ₹4,570 crore

Realty developer Lodha Developers has reported a year-on-year increase of 7% in pre-sales, totaling Rs 4,570 crore for the quarter ending in September. The company’s collections also saw a 13% growth year-on-year, reaching Rs 3,480 crore. For the first half of the financial year, Lodha’s pre-sales amounted to Rs 9,020 crore, indicating an 8% rise compared to last year. Meanwhile, collections for this period increased by 10%, totaling Rs 6,360 crore, as stated in a regulatory filing. During this quarter, the developer launched a new project in the Mumbai Metropolitan Region with a gross development value (GDV) of Rs 2,300…