Category: Latest Stories

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IndustryLatest Stories

Delhi Government Starts Circle Rate Revision, Invites Feedback

NEW DELHI: The Delhi government has initiated the process to revise land circle rates in the city and is inviting public suggestions on this matter, officials announced on Wednesday. The last revision of circle rates in Delhi occurred a decade ago in 2014. “The Government of NCT of Delhi is currently revising the circle rates (minimum property valuation rates) for various property categories across Delhi,” stated a circular released on Wednesday by the revenue secretary and divisional commissioner. This revision aims to align the notified rates with current market conditions and promote transparency in property transactions, the circular noted. The…

Latest StoriesRegulatory

ED Seizes Over ₹10 Crore in Assets of Ansal Promoters

NEW DELHI: The Enforcement Directorate (ED) has attached six immovable properties valued at ₹10.55 crore belonging to certain directors and shareholders of Gurugram-based Ansal Properties and Infrastructure Ltd (APIL) under the anti-money laundering law. This action is part of a case linked to alleged violations of environmental protection laws, as stated by the ED on Wednesday. The properties, which are provisionally frozen under the Prevention of Money Laundering Act (PMLA), include commercial units in Gurugram (Haryana), Greater Noida (Uttar Pradesh), and Ludhiana (Punjab). The assets belong to notable figures associated with APIL, such as Sushil Ansal, Pranav Ansal, and Kusum…

IndustryLatest Stories

RBI Holds Rates Steady Amid Trump Tariff Uncertainty

MUMBAI: The Reserve Bank of India (RBI) has maintained its policy interest rate at 5.5% for the second consecutive time, citing concerns regarding tariff uncertainties. During the announcement of the fourth bi-monthly monetary policy for the current fiscal year, RBI Governor Sanjay Malhotra stated that the Monetary Policy Committee (MPC) unanimously opted to keep the short-term lending rate, known as the repo rate, unchanged at 5.5% with a neutral stance. Governor Malhotra indicated that while the rationalization of GST rates could have a moderating effect on consumption and growth, developments related to tariffs may hinder economic expansion in the latter…

IndustryLatest Stories

Uttar Pradesh’s Urban Bodies to Launch New Building Map Approval System

LUCKNOW: Urban local bodies are set to start a process to approve building maps in a bid to generate new revenue streams. Currently, the authority to approve plans lies with housing development agencies in regulated areas. However, areas outside of these regulations, maintained by municipal bodies, lack such mechanisms. Consequently, on the outskirts and in peripheral regions, buildings are constructed haphazardly. This unplanned growth leads to traffic congestion and bottlenecks as these areas develop over time. Officials noted that encroachment on public spaces is common, with property owners often building on land meant to be reserved as setbacks for future…

IndustryLatest Stories

Runwal Realty Files DRHP for ₹2,000-Crore IPO

Real estate developer Runwal Realty is aiming to raise up to ₹2,000 crore through an Initial Public Offer (IPO) of its equity shares and has submitted its draft red herring prospectus for this venture. The capital raise will include a fresh issue up to ₹1,700 crore and an offer for sale of up to ₹300 crore. The Mumbai-based company might also pursue a pre-IPO placement totaling up to ₹340 crore, which, if executed, will be capped at 20% of the fresh issue size, as stated in the draft prospectus filed on Wednesday. Runwal Realty plans to use the proceeds from…

InfrastructureLatest Stories

Kochi Metro Plans Phase II Extension to Infopark III, Kizhakkambalam

KOCHI: Kochi Metro Rail Limited (KMRL) is planning to extend its Phase II pink line to the Kizhakkambalam area, where Infopark aims to establish its Phase III campus. The IT Park officials have informed that they’ve completed initial discussions with KMRL regarding this extension. The work on the pink line is currently underway, with KMRL targeting completion by 2026. The existing plan terminates the line near Infopark’s Phase I campus. Infopark CEO Sushanth Kurunthil stated, “We are prioritizing Metro connectivity for our Phase III project, as this integrated township is set to be one of the largest infrastructure developments in…

InfrastructureLatest Stories

Panel to Review Construction on Ghaziabad’s Yamuna Floodplain

GHAZIABAD: In response to the recent flooding in Loni, District Magistrate Ravindra Kumar Mandar has established a four-member committee tasked with locating permanent structures within the Yamuna floodplain zone. The committee, led by Additional District Magistrate Saurabh Bhatt, includes the Loni SDM and an official from the irrigation department. It is responsible for identifying illegal constructions in the floodplain and must submit their findings within a month, after which the area will be cleared. Officials have noted that flooding in Loni has become a recurring challenge since 2023, necessitating the allocation of resources for rescue efforts. This year alone, around…

IndustryLatest Stories

Future-Proof Realty Ep 2: India’s Next Green Building Chapter

Real estate is a major contributor to global carbon emissions, responsible for nearly 40% worldwide. India plays a crucial role in this landscape, especially with the nation’s commitment to achieve net-zero by 2070. The pressure is on the sector to innovate. The transformation has already begun. India’s green building market is projected to double by 2030 as developers increasingly adopt solar energy, rainwater harvesting, and sustainable materials to create spaces that are both functional and future-oriented. In this context, ETRealty and ETStudios present Future-Proof Realty, a series that examines how the real estate industry is advancing toward sustainability. Following a…

Latest StoriesRegulatory

YEIDA Targets Illegal Plot Sales Near Noida Airport

Representative image NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) has launched a crackdown on illegal colonisers promoting fraudulent projects in proximity to the Noida International Airport. The authority received numerous complaints regarding unapproved “township projects” being aggressively marketed to buyers from Delhi-NCR, falsely promising homes near the upcoming airport. The authority now aims to take action against social media accounts promoting these illegal developments. YEIDA has pledged strict enforcement and collaboration with local administration to address these issues. A report from TOI on September 15 highlighted how sales agents provided car pickups for potential buyers, transporting them to well-maintained…

Latest StoriesRegulatory

Lucknow’s Sahara Group land in Gomtinagar sealed by civic body

Representative image LUCKNOW: The Lucknow Municipal Corporation (LMC) has initiated the sealing of 170 acres in Gomtinagar, which includes the well-known Subrato Kothi owned by the Sahara Group. Signage indicating the area is sealed has been placed on-site. This action comes after an extensive inquiry led by Municipal Commissioner Gaurav Kumar, uncovering numerous violations of licensing and lease agreements. The land was originally allocated to Sahara India Housing Limited in 1994 for residential and green belt development, intended for housing plots and a planned community. However, in 1997, the LMC issued a cancellation notice for the license deed due to…