Category: Latest Stories

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InfrastructureLatest Stories

HYDRAA Secures ₹3,600 Crore Land in Kondapur

Representative image created by AI HYDERABAD: The Hyderabad Disaster Response and Asset Protection Agency (HYDRAA) has successfully reclaimed 36 acres of government land in Kondapur, Serilingampally mandal, Rangareddy district, valued at approximately Rs 3,600 crore. This marks the agency’s second-most valuable recovery to date. The land, located in survey number 59 near the RTA office in Kondapur, had been illegally occupied for several years. Following a directive from the high court, HYDRAA officials, supported by police, removed numerous temporary commercial structures erected on the property. The area has now been fenced off, with signboards installed to designate it as government…

IndustryLatest Stories

RBI Could Allow Real Estate to Access Offshore Loans

A recent proposal to liberalize India’s foreign loan framework includes a change long resisted by former Reserve Bank of India (RBI) governors. This involves allowing external commercial borrowings (ECBs) in the real estate sector, a move that has faced opposition since the Asian Financial Crisis of 1997, which was partly fueled by foreign currency debts linked to property. Past RBI governors have remained cautious about the risks of foreign investments in the real estate market due to the financial turmoil in countries like Thailand, South Korea, and Indonesia. A detailed look at RBI’s draft ECB policy shows a willingness to…

Latest StoriesResidential

Buyers at Aashiyara 37C Protest After 7 Years of Delays

GURUGRAM: Hundreds of homebuyers from Aashiyara 37C staged a protest, claiming they have not received possession of their homes despite nearly full payment made years ago. The demonstration occurred near the residence of Haryana cabinet minister Rao Narbir Singh, where a detailed memorandum was submitted seeking intervention. Many allottees reported paying 100% of their dues nearly three years ago, yet they have neither received possession nor a timeline for completion. The developer, M/s Renuka Traders Pvt Ltd, has allegedly changed delivery dates 12 times, failing to meet any deadlines. Attempts to reach the developer for comment were unsuccessful. Allottee Gautam…

InfrastructureLatest Stories

Groundwater Salinity Endangers Buildings in 17 Mumbai Areas

Representative AI image MUMBAI: The initial phase of the city’s groundwater level survey has uncovered a troubling situation: saline water was detected in 17 of the 19 surveyed locations. The Union Government’s Ground Water Survey Board assessed groundwater at 26 sites throughout the city, providing a preliminary report for 19 locations to the Brihanmumbai Municipal Corporation (BMC). Tests were conducted in various areas including Churchgate, Mazagaon, Worli, Mahim, Byculla, Mahul, Trombay, Khar Danda, Vakola, Vile Parle (West), Amboli, Versova, Madh, Film City, Mulund, Goregaon, Malvani, Manori, and Gorai, in addition to two places each in Colaba, Dahisar, and Chembur. The…

Latest StoriesRegulatory

Telangana HC Censures Badangpet Civic Body for Illegal Builds

Telangana HC HYDERABAD: The Telangana High Court has instructed the Badangpet Municipal Corporation, situated on the outskirts of Hyderabad, to take decisive and immediate measures against illegal constructions on encroached lands under its jurisdiction. The order, issued on September 24 by Justice B. Vijaysen Reddy, came in response to a petition from the American Township Plot Owners Welfare Association, a residents’ welfare association from Balapur, Badangpet. The association alleged that a real estate firm and an individual were encroaching on land designated for a public road and had commenced construction. Despite several complaints, the RWA claimed the municipal corporation had…

Latest StoriesResidential

SGRA Chair Calls on Pune Societies to Adopt Mumbai Self-Redevelopment Model

PUNE: Pravin Darekar, chairman of the new Self-Group Redevelopment Authority (SGRA), announced on Sunday that self-redevelopment is increasingly advantageous for property owners. The initiative is gaining traction in Mumbai, and he encouraged more housing societies in Pune to consider it. Speaking to reporters at a seminar hosted by the Pune District Cooperative Housing Societies and Apartments Federation, Darekar highlighted the formation of a dedicated authority to promote self-redevelopment. He noted that the state cooperative bank and various district banks are willing to provide loans for such initiatives. “Many private builders are obtaining loans at very high rates from private banks.…

Latest StoriesResidential

Telangana Housing Board to Auction Plots & Flats from Oct 6

HYDERABAD: The Telangana Housing Board is set to auction plots and flats within the GHMC limits, including locations such as Nizampet, Bachupally, and Chintal, starting Monday. Some properties will be auctioned publicly, while others will be available through e-auction. The Housing Board has been actively auctioning land over the past five months to support the Indiramma Housing Scheme for the underprivileged. Sources indicate that the corporation is expected to transfer ₹1,618 crore to the government for the Indiramma scheme. Officials announced that residential properties in Chintal, Nizampet, and Bachupally will be available for open auction, following a notification issued on…

Latest StoriesRera

Odisha REAT Supports Buyer Amid Builder Delays and Amenities Issues

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has rejected an appeal from a local realtor disputing the applicability of the RERA Act, 2016 to its residential project in Andharua. During a recent session, the tribunal affirmed the Odisha Real Estate Regulatory Authority’s (ORERA) previous decision, mandating the developer to compensate the buyer and adhere to essential legal requirements. The case stemmed from a complaint by homebuyer Surya Prakash, who cited delays in possession, the absence of mandatory occupancy and fire safety certificates, and the failure to deliver the promised amenities as outlined in the sale agreement. Despite investing Rs…

InfrastructureLatest Stories

BMRCL Greenlights Two-Tier Metro Expansion in Bengaluru

BENGALURU: In a major advancement for urban mobility in Bengaluru, the board of the Bangalore Metro Rail Corporation Limited (BMRCL) has sanctioned the construction of 40.56 km of double-decker elevated corridors as part of the upcoming Namma Metro Phase-3 project. The proposed double-decker route will extend between JP Nagar–Hebbal and Hosahalli–Kadabagere, covering a total distance of 44.65 km. The board plans to request the Karnataka government to cover the additional estimated expenses of ₹8,916 crore for this significant infrastructure expansion. A similar approach has already been executed on a 3-km stretch of Phase-2’s Yellow Line, linking Central Silk Board and…

Housing FinanceLatest Stories

Warburg Pincus to inject ₹500 crore into Truhome Finance

MUMBAI: Truhome Finance, focusing on affordable housing, is set to receive an additional ₹500 crore funding from its primary shareholder, Warburg Pincus, later this month, as confirmed by a senior official. This new investment will increase Warburg Pincus’s total commitment to over ₹2,000 crore in the entity, previously known as Shriram Housing Finance. “Warburg has previously invested ₹1,200 crore in new funding and ₹400 crore in compulsorily convertible debentures. They are now set to contribute ₹500 crore more by the end of October,” said Ravi Subramanian, managing director and CEO of the lender, in a statement to PTI. He noted…