Category: Latest Stories

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InfrastructureLatest Stories

Mumbai BMC Requires Real-Time Tracking of Construction Waste

Representative AI image MUMBAI: In light of increasing redevelopment-driven construction in the city, the BMC has established a standard operating procedure (SOP) to manage construction and demolition (C&D) waste effectively. According to the circular, all developers, contractors, infrastructure agencies, and government bodies must segregate waste at its source into two distinct categories: excavation material and construction debris. Penalties for non-compliance can reach Rs 25,000 per vehicle per incident, with stricter consequences for repeat offenders. Excavation material includes soil, murum (crushed rock), and earth, while C&D waste encompasses debris produced from construction and demolition activities. Mixing these categories is strictly prohibited,…

Latest StoriesResidential

Delhi MCD Starts Survey on Residential Premises Misuse

NEW DELHI: In response to directives from the Supreme Court, the Municipal Corporation of Delhi (MCD) has launched a thorough initiative to pinpoint instances of residential properties being misused for non-residential purposes throughout the city. The Supreme Court’s order, issued in early April, involved municipal corporations from all capital cities, including the MCD, and mandated a thorough inquiry within their respective jurisdictions. MCD Commissioner Sanjeev Khirwar has directed all zonal deputy commissioners to conduct a targeted survey aimed at identifying residential areas that are currently being utilized for commercial or other non-residential activities. This survey will encompass all residential colonies,…

IndustryLatest Stories

Haryana’s New Policy Boosts Senior Living Developer Interest

NEW DELHI: Numerous developers are delving into senior living projects in Gurgaon, Faridabad, Panchkula, and various key markets in Haryana following an amendment by the state cabinet to the retirement housing policy. This change allows for an increase in permissible floor area ratio (FAR) to 3 via transferable development rights (TDR). This development empowers builders to create more units, thereby enhancing project viability. “This amendment is timely. In Gurugram, there’s a noticeable shift where families are viewing senior living as a conscious, planned choice rather than merely a fallback option,” stated Rishabh Periwal, Senior Vice President at Pioneer Urban Land…

Latest StoriesResidential

DDA Awaits CBI Nod to Begin Signature View Demolition

Signature View Apartments NEW DELHI: The redevelopment of the Signature View Apartments is expected to face further delays as the Delhi Development Authority (DDA) is still awaiting clearance from the Central Bureau of Investigation (CBI) to initiate the demolition of the buildings located in Mukherjee Nagar, north Delhi. Designated as structurally unsafe in 2023, the residential complex, built by the DDA, is set for demolition and redevelopment. The CBI is currently investigating allegations of corruption and irregularities related to the construction of these towers and has instructed the DDA to postpone demolition until it gathers necessary evidence from the site.…

IndustryLatest Stories

Telangana Fire Dept Meets Builders on Fire Services Act Changes

HYDERABAD: On Friday, state fire department officials convened a consultative meeting with members of the builders and developers association to discuss proposed amendments to the Telangana Fire Services Act of 1999. The proposed amendments aim to modernize regulations to address urban infrastructure risks, improve safety standards, and enhance enforcement powers. Once finalized, these changes will allow fire department regulations to cover buildings under 15 metres high, as most fire incidents occur in these smaller, often crowded structures. The meeting was held at the fire department’s headquarters in Nanakramguda and included representatives from the Confederation of Real Estate Developers’ Associations of…

Latest StoriesResidential

Kanpur Board Cuts Prices on 5,600 Unsold Flats

KANPUR: The Kanpur Development Authority (KDA) met on Friday to discuss the reduction in cost for 5,600 unsold flats from various schemes. The board approved a budget of ₹25.15 billion and committed to development works costing ₹1,291 crore for the ongoing fiscal year, reflecting a 70% increase from last year’s expenditure of ₹640 crore. Vijayendra Pandian, the divisional commissioner and chairman of the board meeting, stated that the significant number of unsold flats will now be sold at reduced rates based on 2018 prices. This reduction ranges from 4.60% to 23.19%, with flats priced between ₹8.86 lakh and ₹28.50 lakh.…

Housing FinanceLatest Stories

RBI Penalizes Bandhan Bank and Muthoot Housing Finance

MUMBAI: The Reserve Bank of India (RBI) announced on Friday that it has imposed a penalty of Rs 41.8 lakh on Bandhan Bank due to non-compliance with certain regulations, particularly those related to Know Your Customer (KYC) requirements. The RBI cited that Bandhan Bank did not perform periodic risk categorization reviews for specific account types and approved loans associated with its directors. “This action is based on deficiencies in statutory and regulatory compliance, and it does not imply any judgment on the validity of transactions or agreements between the bank and its customers,” stated the RBI. Additionally, the central bank…

Latest StoriesResidential

Telangana property registration values set to rise in May

HYDERABAD: In a key initiative to enhance resource mobilisation, the state government has announced that property registration values will be revised starting the first week of May. The registration department has been instructed to make the necessary preparations for this change. This decision, made by the cabinet sub-committee on resource mobilisation, ends a year-long pause on the proposed increase. Initially planned for last year, the revision was delayed due to a downturn in the real estate sector and persistent requests from real estate associations for a postponement. However, with market conditions showing signs of stability, the government has decided to…

Latest StoriesRegulatory

Revenue Minister Orders FIR in ₹87-Crore Borivali Land Dispute

MUMBAI: Revenue Minister Chandrashekhar Bawankule held a review meeting at Mantralaya this week, directing swift action regarding the Rs 87 crore land compensation issue in Borivali. In light of serious allegations, the minister told the Mumbai Suburban collector to file an FIR against the builder who reportedly received compensation unlawfully, as well as former government officials believed to have facilitated the questionable payout. Officials were ordered to finalize the FIR by 6 pm on Thursday. The meeting concerns a long-standing conflict over CTS Nos 456, 458, and 458 (1 to 10) in Borivali, where the Devrukhkar family has raised claims…

Latest StoriesRegulatory

EOW Files Case Against Four for Selling Land to 80 Buyers

HYDERABAD: The Cyberabad Economic Offences Wing (EOW) has initiated a criminal case against four individuals accused of fraudulently selling assigned land to 80 buyers, valued at Rs 3.48 crore. The complainant, a coconut vendor from Allapur in Borabanda, claims the accused befriended him and presented an opportunity to purchase plots in Patancheru. The complaint states that Nagesh Goud and Ravi Goud convinced him they were the landowners, while G Vara Prasad, P Shivaram, and Satyanarayana acted as brokers. They informed the complainant they would seek permission for the layout and offered him a chance to buy plots at a discounted…