Category: Latest Stories

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Latest StoriesResidential

Mumbai civic body holds lottery for 426 houses

MUMBAI: The Brihanmumbai Municipal Corporation (BMC) held an online draw on Saturday for 426 houses allocated under the Development Control and Promotion Regulations 2034. According to a release from the BMC, the draw took place at the corporation’s headquarters in south Mumbai, resulting in 373 successful applicants, while 362 others were placed on a waiting list. Successful applicants will receive notifications via email, followed by letters with detailed instructions for document verification. The civic body also announced plans to conduct a lottery for an additional 296 residential units in various locations within BMC’s jurisdiction under the same regulations. Published On…

InfrastructureLatest Stories

NDMC Launches Cleanliness Drive in Major Areas

Representative AI image NEW DELHI: On Friday, the New Delhi Municipal Council (NDMC) launched a large-scale initiative to combat dust pollution and improve cleanliness in key residential and commercial areas. According to NDMC, multiple departments are collaborating on this effort. An official statement highlighted active involvement from the three core departments: Public Health (Sanitation), Horticulture, and Civil Engineering, ensuring a thorough execution. A spokesperson mentioned that NDMC teams engaged in mechanized sweeping, silt removal from side channels, essential repairs, and maintenance of green spaces. “These coordinated efforts aim to significantly reduce dust pollution and enhance the overall environmental quality of…

CommercialLatest Stories

Gurugram: 32nd Avenue Owners Notified for Code Violations

Representative AI image GURUGRAM: The district town planner (enforcement) has issued a show-cause notice to the owners and collaborators of 32nd Avenue, a bustling commercial hub in Sector 15-II, following a recent inspection that revealed significant deviations from the approved building and layout plans. This notice comes nearly 10 months after a similar one was issued in January 2025, which aimed to address critical breaches that remained unresolved. 32nd Avenue is celebrated for its diverse food and retail options. The previous notice identified multiple violations, including the complete blockage of a 6-meter fire tender access route, the unauthorized operation of…

IndustryLatest Stories

Lucknow to Auction Plots in Gomtinagar Extension Scheme

Representative AI image LUCKNOW: The Lucknow Development Authority (LDA) has finalized plot prices and approved the layout for a new commercial and group housing development in the Gomtinagar Extension Scheme. These prime plots will be available in the upcoming e-auction, which will include commercial complexes at 1090 Chauraha, a hospital site, and multiple group housing plots. The e-auction portal will be open starting December 15, and interested participants can register on the LDA website. LDA Vice-Chairperson Prathamesh Kumar announced that in Sector-7 of Gomtinagar Extension, 43 acres behind the Police Headquarters have been designated for 11 group housing plots and…

IndustryLatest Stories

PFRDA Simplifies Investment Rules for REITs and InvITs

Representative AI image NEW DELHI: The Pension Fund Regulatory and Development Authority (PFRDA) has clarified the framework for National Pension System (NPS) funds to invest in Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) through a revised master circular on investment guidelines issued on December 10, 2025. PFRDA has established new exposure limits to govern this investment. Combined investments in REIT and InvIT debt instruments and units must not exceed 3% of a pension fund’s total assets under management. Furthermore, pension funds cannot hold more than 15% of the outstanding debt instruments from a single REIT or InvIT,…

Latest StoriesRegulatory

ED Raids Angle Infrastructure, RP & Nauseva Buildwell in Delhi-NCR

CHANDIGARH: The Directorate of Enforcement (ED) from Gurugram Zonal Office conducted search operations in the Delhi-NCR region on Friday, targeting M/s Angle Infrastructure Pvt. Ltd., the resolution professional, and Nauseva Buildwell LLP along with its partners, under the Prevention of Money Laundering Act (PMLA), 2002. The searches were initiated based on evidence suggesting potential collusion during the Corporate Insolvency Resolution Process (CIRP) of the corporate debtor, resulting in the seizure of Rs 33 lakh in unexplained cash and various digital devices. The ED’s investigation was prompted by FIRs filed by Gurugram Police and the Delhi Economic Offences Wing, citing allegations…

IndustryLatest Stories

Ashiana Housing MD Elected President of CREDAI-NCR

NEW DELHI: Vishal Gupta, managing director of Ashiana Housing, has been elected as the new president of the National Capital Region chapter of the Confederation of Real Estate Developers’ Associations of India (CREDAI-NCR). On Friday, CREDAI-NCR announced its newly formed Executive Committee (EC) and Governing Council (GC). Alongside Vishal Gupta as president, the vice-presidents include Anil Kumar Gupta, Dinesh Gupta, Gaurav Gupta, Manish Agarwal, and Vineet Kanwar. Nikhil Hawelia has been designated as the secretary, while Arpit Goel takes on the role of joint secretary. Gupta expressed his commitment, stating, “Our Governing Board aims to work with renewed enthusiasm, ensuring…

IndustryLatest Stories

Ghaziabad body granted power to alter land use for townships

Representative AI image GHAZIABAD: The GDA Board now holds the authority to change land use from agricultural to residential for townships developed under the CM Urban Expansion New City Promotion Scheme, a power that was previously with the state government. This modification will enable the GDA to address delays or disputes related to land-use issues in its projects, particularly in the Harnandipuram township, where over 80% of the 501 hectares proposed for acquisition is currently agricultural land. “Change of land use (CLU) is a long and complex process requiring state government approval, which can take months. In 2023, the state…

IndustryLatest Stories

Mumbai Bungalow Sold for ₹164 Crore for Redevelopment

Representative AI image MUMBAI: A historic standalone bungalow in Mumbai’s Bandra-Khar-Santacruz area is set for redevelopment, with a prominent property in Santacruz West selling for ₹164 crore. This transaction adds to the growing trend of vintage homes in the western suburbs being acquired for high-end residential projects. The property, known as Dwarka Bungalow on Linking Road, covers 13,629 sq ft and features a ground-plus-one structure alongside a garage and ancillary sheds. The buyer, ZYJ Estates LLP, has paid a stamp duty exceeding ₹9.84 crore for the transaction, which took place on November 17, according to documents accessed via Zapkey.com. Such…

IndustryLatest Stories

BMC to Auction Six-Acre Century Mill Land in Worli, Mumbai

Representative AI image MUMBAI: Nearly a year after the Supreme Court overturned a March 2022 Bombay High Court decision, ruling that almost six acres of Century Cotton Textile Mill land in Worli belong wholly to the BMC, the civic body is now looking to monetize the property. The BMC has issued a tender to auction the land for a 30-year lease, which can be renewed for an additional 30 years via private participation. The starting bid is set at Rs 1,348 crore, and development will adhere to the Development Control & Promotion Regulations (DCPR-2034) guidelines. “The base price reflects the…