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Latest StoriesRegulatory

FIR Filed Against Ocean Seven Buildtech Directors Over Fund Misuse

Sure! Here’s a rewritten version of the content: GURUGRAM: An FIR has been filed against the directors and officers of Ocean Seven Buildtech Pvt Ltd after homebuyers of a delayed project in the area accused the builder of deception, breach of trust, forgery, and conspiracy. Buyers further allege intimidation by the builder. The FIR—lodged at Bajghera police station under sections 420, 406, 409, and 120-B of the IPC—names Swaraj Singh Yadav, Sunita Swaraj Yadav, and Arun Yadav as the accused in connection with the Expressway Towers affordable housing project in Sector 109. The case was initiated following a complaint by…

Housing FinanceLatest Stories

Unity Small Finance Bank Wins Auction for Aviom India Housing

MUMBAI: Unity Small Finance Bank has successfully bid for the bankrupt Aviom India Housing Finance, offering an upfront payment of ₹977.5 crore, according to sources familiar with the matter. Initially, six companies expressed interest in acquiring Aviom India Housing Finance under the National Company Law Tribunal (NCLT) process, with three ultimately participating in the auction held last week. Areion, a fund backed by Omkara Asset Reconstruction Company, and Authum Investment and Infrastructure were the other two bidders in the auction conducted by Ram Kumar, the RBI-appointed administrator and former general manager of Punjab National Bank. “The bidding involved 13 rounds,…

InfrastructureLatest Stories

CRDA Greenlights ₹1,300 Crore for Amaravati Layouts

Representative AI image AMARAVATI: During the 56th meeting of the Capital Region Development Authority (CRDA) held on Monday, over Rs 1,300 crore was allocated for layout development, alongside a Rs 444-crore investment in a flood pumping system. Chaired by Andhra Pradesh Chief Minister N Chandrababu Naidu, the CRDA announced the establishment of a research center on two acres in Amaravati’s Quantum Computing Centre, with a budget of Rs 104 crore. The planned pumping station will cost Rs 444 crore and will have a capacity of 8,400 cusecs. Additionally, Rs 1,358 crore has been allocated for infrastructure development in Zone-8 of…

InfrastructureLatest Stories

Haryana Proposes Rajiv Chowk as Start for RRTS Corridor

GURUGRAM: The Haryana government has suggested that Rajiv Chowk serve as the starting point for the Gurgaon–Faridabad–Noida Namo Bharat (RRTS) corridor. Officials believe this strategic location will boost ridership throughout the day, enhance multimodal connectivity, and provide significant advantages to commuters. However, the National Capital Region Transport Corporation (NCRTC) has expressed reservations, citing increased construction costs, engineering obstacles, and the possibility of a detour between IGI Airport’s Aerocity and Noida International Airport. Disagreements arose during a meeting to finalize the draft detailed project report (DPR) for the corridor. This project is designed as a rapid transit link connecting IGI Airport…

Latest StoriesResidential

One Year Later: No GR on NA Tax Abolition; Housing Societies Seek Clarity

PUNE: Over a year after the state cabinet’s decision to eliminate the non-agricultural (NA) tax in urban regions, cooperative housing societies in Maharashtra still lack clarity due to the absence of an official government resolution (GR). The Maharashtra State Housing Federation has reached out to Chief Minister Devendra Fadnavis and Revenue Minister Chandrashekhar Bawankule, requesting a GR to clarify the situation and organize awareness initiatives for consistent implementation across the board. Without a formal notification, housing societies—particularly those outside gaothan areas—remain uncertain if they are still required to pay the tax, as indicated in their letter. In October 2024, the…

InfrastructureLatest Stories

Notice Issued to 4,500 Homes in Gurugram for Illegal Builds

Representative AI image GURUGRAM: The Haryana government has intensified its crackdown on illegal constructions and the commercial misuse of residential properties in DLF phases 1-5. The number of properties currently under investigation has reached 4,565. This was revealed after the enforcement wing of the Department of Town and Country Planning (DTCP) issued a revised public notice. An earlier survey had identified violations in 4,183 properties. The recent notice has been posted on the DTCP’s official website following a new survey mandated by the Punjab and Haryana High Court. A comprehensive list of affected properties is available at tcpharyana.gov.in, enabling property…

InfrastructureLatest Stories

Fears Over S+4 Rule: Ludhiana’s Density May Threaten Livability

LUDHIANA: The Punjab government’s newly implemented building regulations have ignited a heated debate in the city. While these reforms offer substantial density and parking concessions for property owners, urban planners and environmentalists caution that such changes may overwhelm the city’s aging infrastructure. These regulations signify a shift towards “vertical growth” and “commercial flexibility,” particularly in Ludhiana’s historic and densely populated areas. The new unified rules introduce several structural modifications aimed at modernizing the urban landscape. Builders are now allowed to utilize stilt parking (open parking at ground level) to facilitate residential living on upper floors. Additionally, basements can now be…

InfrastructureLatest Stories

Ludhiana Launches Crackdown on Seven Illegal Buildings

LUDHIANA: Continuing its crackdown on unauthorized urban development, the Ludhiana Municipal Corporation (MC) building branch demolished or sealed seven illegal structures throughout the city on Friday. Following direct orders from MC Commissioner Aaditya Dachalwal, officials from Zone D focused on high-profile commercial and residential areas. This action is part of a larger plan to enforce newly established unified building bylaws and to penalize those circumventing the official approval process. Assistant Town Planner (ATP) Harvinder Singh confirmed that the targeted properties were either constructed without approved plans or breached zoning regulations. Demolitions occurred at Kochar Market Road (1) and Gurdev Nagar…

InfrastructureLatest Stories

Punjab eases rainwater harvesting rules; composting required

LUDHIANA: The newly established unified building regulations in Punjab are offering substantial benefits to residential property owners by significantly increasing the size threshold for compulsory rainwater harvesting systems. On-site composting of kitchen and garden waste is now a requirement for all plots measuring 500 sqm or larger. Under the revised rules, only residential houses exceeding 250 sqm must implement rainwater harvesting systems, up from the previous threshold of 100 sqm. In contrast, the commercial and industrial sectors will face stricter regulations, with a maintained threshold of 100 sqm to address the area’s diminishing water table. Addressing the Water Crisis As…

InfrastructureLatest Stories

MIDC to Allocate ₹6,000 Cr for Purandar Airport Land Purchase

Representative Image PUNE: The Maharashtra Industrial Development Corporation (MIDC) is set to allocate approximately Rs 6,000 crore for land acquisition related to the proposed Purandar airport, according to state government sources reported by TOI on Saturday. The Pune district administration has submitted the proposal, which is currently undergoing final approval stages. An official mentioned, “The clearance is imminent, and we expect to release around Rs 6,000 crore for land acquisition.” Based on a notification from March 17, 2025, under the Land Acquisition Act, farmers are being offered compensation of Rs 1 crore per acre, with double compensation for on-site assets…