Category: Latest Stories

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Latest StoriesResidential

Bhopal: ‘Housing for All’ Faces Public Rage Over Delays

BHOPAL: Residents benefiting from the Housing for All multistorey project at 12 Number Stop in BMC Ward 49 have voiced strong dissatisfaction regarding the delays in receiving their flats. During a Tuesday inspection, Mayor Malti Rai was confronted with pressing questions from the residents, who demanded to know when they would finally take possession of their homes. Beneficiaries claimed they had booked their flats years ago and made advance payments, yet have not received possession. Additional complaints included issues of waterlogging during the rains and substandard construction quality. One beneficiary blocked Rai’s path, stating he could no longer wait after…

Latest StoriesRegulatory

SC grants bail to ex-DHFL promoters in loan scam case

NEW DELHI: The Supreme Court has granted bail to former DHFL promoters Kapil Wadhawan and his brother Dheeraj, acknowledging that an undertrial should not be detained indefinitely in relation to a multi-crore bank loan scam. In a ruling on December 11, Justices J K Maheshwari and Vijay Bishnoi stated that prolonged incarceration without trial undermines Article 21, which safeguards the right to life and personal liberty. The court emphasized that under Indian law, “bail is the rule, and jail is the exception,” a principle fundamental to criminal jurisprudence. It added that pretrial imprisonment must not evolve into punitive action without…

Latest StoriesResidential

Indore Aims for Slum-Free Status in Five Years

Representative AI image INDORE: The state government has set an ambitious goal to transform Indore into a ‘slum-free’ city within the next five years. As part of this significant urban development initiative, the city plans to construct over 16,000 housing units in the next three years under the Pradhan Mantri Awas Yojana (PMAY) 2.0. The overarching objective of the PMAY 2.0 scheme is to build 1.5 lakh housing units in Indore. “The construction aims to develop around 1.5 lakh pucca houses across three categories: flats constructed by IMC for affordable rental housing, and individual houses that qualify for subsidies or…

Latest StoriesRegulatory

Assembly passes 12 bills, including Karnataka rent changes

BELAGAVI: On Tuesday, the state Assembly approved 12 bills, including the Greater Bengaluru Governance (Second Amendment) Bill. This bill allows all MPs and MLAs who reside in Bengaluru and are on the city’s electoral roll to become members of the Greater Bengaluru Authority (GBA). Deputy Chief Minister D K Shivakumar, responsible for Bengaluru’s development, stated, “Public representatives who are voters in Bengaluru were previously excluded. Now, we will include Rajya Sabha member Sudha Murty, Union Finance Minister Nirmala Sitharaman, and certain areas from Chikkaballapura Lok Sabha constituency, represented by Dr K Sudhakar, in the GBA.” He added that the amendment…

IndustryLatest Stories

Prestige Group Scraps Lutyens’ Plan, Sells Bungalow

Representative Image NEW DELHI: The Prestige Group from Bengaluru, which purchased a bungalow from TDI Infratech on Kasturba Gandhi Marg in Delhi for the development of a luxury boutique project, has withdrawn from the deal due to approval delays. The firm has sold the property for approximately ₹450 crore, after acquiring it two years ago for about ₹300 crore. TDI retained ownership of the Lutyens Delhi property intended for redevelopment. Initially set as a joint development agreement, Prestige eventually acquired the asset entirely. The property covers 5,100 square yards, with a projected revenue potential of ₹700 crore. Sources indicate that…

Latest StoriesRegulatory

Bombay HC Nullifies ₹600 Crore Bandra Bungalow Probate

MUMBAI: The Bombay High Court has annulled a probate granted eight years ago concerning the landmark ‘Marina Manor’ bungalow in Bandra, valued at over Rs 600 crore. The court determined that the probate was secured through the concealment of important facts and false statements regarding the deceased’s family. This ruling, issued on December 11 by Justice Sharmila U Deshmukh, followed a petition filed under Section 263 of the Indian Succession Act. The court revoked the probate initially granted in November 2017 to Marina Manuel Fernandes for a will dated November 8, 2014, allegedly belonging to Marie Joseph Fernandes, who died…

Housing FinanceLatest Stories

Rising Defaults on Micro Loans Secured by Property

MUMBAI: TransUnion CIBIL’s December 2025 Credit Market Report highlighted a year-on-year increase in early-stage delinquencies for micro-loans secured against property (micro-LAP) and micro-housing loans. The report indicates that lenders are now focusing on borrowers with credit scores exceeding 750 and a solid credit history. According to the report, delinquency rates in the micro-LAP segment rose by 45 basis points to 3.3% as of September 2025. Early delinquencies, defined as loans overdue by 90 days or more within 12 months, increased by 29 basis points year-on-year to 2.2% for loans originated in the quarter ending September 2024, which is notably higher…

Latest StoriesResidential

Rental Scheme: Dodgy Agreements Uncover Tax Evasion Plot

BENGALURU: A property management company is under scrutiny for allegedly using dual agreements to facilitate hidden deposits, unpaid rents, and questionable HRA claims, ensnaring property owners and sub-tenants. Residents of Bengaluru have long been aware of the risks posed by unscrupulous tenants and property management firms that exploit unsuspecting landlords. Recent revelations expose another scam that appears to defraud the government by misrepresenting claims for house rent allowance (HRA) exemptions. A homeowner who wishes to remain anonymous shared their experience with Catena Homes, stating, “I only received rent for a few months after entering an agreement with them. When I…

Latest StoriesResidential

Buffer Zone Dispute Leaves Bengaluru Site Owners in Limbo

Here’s a rewritten version of the content: BENGALURU: Over 1,500 families who purchased plots in the Banashankari 6th Stage layout, developed by the Bangalore Development Authority (BDA), are stuck in limbo for years. A sudden claim by the forest department regarding forest land has halted construction and sales, leaving many unable to develop their properties despite holding valid allotments, tax receipts, and long-standing ownership documents. Established in 2001, Banashankari 6th Stage consists of over 20,500 plots across 14 blocks. The current contention focuses on the 3rd, 4th, and 5th blocks, where the forest department has imposed construction restrictions, asserting that…

Latest StoriesResidential

Registration Opens for LIG & EWS Flats in Ghaziabad

GHAZIABAD: The Ghaziabad Development Authority (GDA) has launched an online service aimed at facilitating the registration process for low-income group (LIG) and economically weaker section (EWS) housing. Private developers can submit the required details online from December 15 until January 15, 2025. A GDA official mentioned that a six-member committee has been established to address delays in the construction and allotment of units under these schemes. To date, one developer has successfully registered 1,493 units under both the EWS and PMAY schemes using the online service. “We anticipate that more developers will come forward to utilize this service. Those who…