Category: Latest Stories

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Latest StoriesRegulatory

Consumer Panel Orders Green Space Infraheights to Pay 12% Late Fee

LUDHIANA: The district consumer disputes redressal commission has imposed a penalty on an infrastructure builder for failing to deliver the possession of a flat to the buyer. The commission has mandated Green Space Infraheights Private Limited, based in Panchkula, Haryana, to refund ₹12.42 lakh—the amount paid by the complainants—along with interest at 12% per annum from the dates of deposit until actual payment, within 30 days of receiving the order. Additionally, the company is required to pay ₹20,000 as composite costs to the complainants, Monica and her son Ishaan Shingari, who reside in Ludhiana’s Kichlu Nagar. According to the complaint,…

Housing FinanceLatest Stories

LIC Housing Finance cuts new home loan rates to 7.15%

NEW DELHI: LIC Housing Finance Ltd announced on Monday that it has lowered its interest rate on new home loans to 7.15 percent. The new rates will take effect from December 22, 2025, with interest starting at 7.15 percent for newly sanctioned home loans. This decision comes as homebuyers continue to cautiously evaluate their purchasing choices, and the reduction is anticipated to enhance homebuyer sentiment. LIC Housing Finance aims to make home ownership more accessible with this initiative. This reduction follows the Reserve Bank of India’s Monetary Policy Committee’s recent 25 basis points repo rate cut. Published On Dec 22,…

Latest StoriesResidential

Lucknow body waives back fees on vacant flats in old schemes

LUCKNOW: In a significant relief for homebuyers, the Lucknow Development Authority (LDA) has decided to waive three years of backdating maintenance charges for individuals purchasing vacant flats in older housing schemes. The LDA Board approved this decision, and official orders have been dispatched. Previously, the authority collected maintenance fees for the last three years from buyers during the registry or possession process, calculated from the initial registry date following construction completion, even if the flats were unsold and unoccupied. Buyers contested this, stating they should not be liable for payments during a time when they neither owned nor occupied the…

Latest StoriesResidential

Shapoorji Pallonji Enters Plotted Development Market

Representative AI image NEW DELHI: Shapoorji Pallonji Real Estate (SPRE) has ventured into the plotted development sector with its new project, Treetopia, which spans 105 acres in Pune. The project is expected to yield an estimated revenue of ₹600 crore, featuring 483 residential plots ranging from 2,000 to 6,000 sq ft. These N.A. plots will come with individual 7/12 certificates, allowing buyers to construct independent villas tailored to their preferences. Published On Dec 22, 2025 at 10:48 AM IST Join a community of 2M+ industry professionals. Subscribe to our newsletter for the latest insights & analysis delivered to your inbox.…

Latest StoriesRegulatory

Bombay HC Forms Panel to Settle Khar Danda Koliwada Land Dispute

MUMBAI: The Bombay High Court has established a three-member committee to address a land dispute at Danda Koliwada, Khar West, where a slum rehabilitation scheme is in progress. Part of this land is utilized by the Koli community for drying fish and nets. Justices Girish Kulkarni and Aarti Sathe instructed the additional principal secretary of the urban development department, along with the suburban collector and the CEO of the Slum Rehabilitation Authority, “to resolve the issue after hearing both parties and considering a fresh demarcation of the land, taking into account the traditional rights of the petitioners.” The judges emphasized…

Latest StoriesRegulatory

South Mumbai Tycoon Alleges Scam in ‘Aafiyah Heights’; FIR Filed

MUMBAI: Byculla police have filed an FIR against two directors of Aafiyah Realtors for allegedly defrauding 60-year-old businessman Mausam Ali Armar of ₹5 crore in connection with a high-rise project in South Mumbai. The accused, Munaf Wadgama and his wife Sajida, reportedly cannot be located, according to police reports. The complaint was lodged by Armar, who is the director of Galaxy Multi Channel Network Pvt Ltd. According to the FIR, Armar met the Wadgamas in 2013 through mutual contacts. The couple allegedly claimed ownership of Aafiyah Realtors and offered nine flats for sale in a proposed 47-storey building named “Aafiyah…

IndustryLatest Stories

Ahmedabad to Permit RMC Plants Near Construction Sites

Representative AI image AHMEDABAD: In response to protests from builder groups — CREDAI and GAHED — the Ahmedabad Municipal Corporation (AMC) has revised its policy to permit ready-mixed cement (RMC) plants within one kilometer of construction sites. This change comes after the AMC previously implemented restrictions aimed at curbing air pollution in the city. Approval for an onsite RMC plant within a one-kilometer radius will be granted if the construction site’s area is 7,500 square meters or less. For sites larger than 7,500 square meters, it remains a requirement to locate the RMC plant on the construction site itself. This…

Latest StoriesResidential

Fixed Fee for Transferring Common Areas in Odisha Flat Sales

BHUBANESWAR: To facilitate smoother sale deed registrations for apartments, the revenue and disaster management department has issued an important notification establishing a fixed fee for the transfer of common areas to the association of allottees under the Odisha Apartment (Ownership and Management) Act, 2023. Through this notification, amendments have been made to the Registration Act of 1908, introducing a fee of ₹20,000 for the transfer of common areas during the sale deed execution between the promoter and the association of allottees. Previously, the lack of a defined fee led to confusion and issues surrounding property registrations in the state. The…

IndustryLatest Stories

GIS Maps Coming Soon for Property Sale Deeds

PUNE: GIS maps for properties will soon be essential for the registration process throughout India. Senior officials from the central land records department informed TOI that these maps will replace the long-standing method of defining plot boundaries using cardinal directions and nearby landmarks. The Centre is currently collaborating with all state governments, including Maharashtra, to implement the Geographic Information System (GIS)-based property registration in the near future. The primary aim of this new system is to ensure that every property transaction is digitally linked to a specifically mapped land parcel. Currently, title deeds generally describe boundaries using directions like east…

Latest StoriesResidential

Mumbai’s Dadar Parsi Colony: Redevelopment Meets Timeless Charm

MUMBAI: In the 1920s, municipal corporator and civil engineer Muncherji Edulji Joshi envisioned a housing project for Parsi families in Dadar, aiming to create a model neighbourhood featuring two-storey buildings surrounded by gardens and open spaces. A century later, redevelopment has gradually infiltrated this lush residential area, known as Dadar Parsi Colony (DPC). Ironically, Joshi’s statue stands near a towering residential building behind it. The historic Daruwala House, a Parsi-only two-storey structure, was transformed into Nirvan Tower around a decade ago, while across the street, Dossal House was demolished to make way for the 21-storey Della Tower, designed by architect…