Category: Latest Stories

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Latest StoriesRera

Uttar Pradesh REAT Demands Builder’s Interest Payment for 45 Days

NOIDA: The Uttar Pradesh Real Estate Appellate Tribunal has mandated that the promoter of a residential cluster in Greater Noida’s Sector 27 must compensate homebuyers for delays and refund charges related to the township’s master club and golf course. The promoter is also required to execute a correction deed to rectify missing information from the registered tripartite sub-lease deed. The tribunal, consisting of Justice Suneet Kumar (chairman) and Rameshwar Singh (administrative member), issued this ruling while rejecting six appeals from AR Landcraft LLP, the promoter of the Godrej Crest residential cluster within the 100-acre Godrej Golf Links township, challenging a…

Latest StoriesRegulatory

NGT Reduces Environmental Fine for Gurugram High-Rise Society

NEW DELHI: The National Green Tribunal (NGT) has provided notable relief to Freedom Park Life AOA, developed by BPTP Builder, by significantly decreasing the environmental compensation previously imposed on the society by the Haryana State Pollution Control Board. The appeal, presented by Advocates Sumit Gehlot, T.S. Thakraon, Manju Gehlot, and Abhishek Singh for the appellant, led the Tribunal to determine that the penalty calculated by the Board was unjustified and lacked supporting evidence. Initially, the HSPCB had levied a penalty of Rs 1,55,62,500 on the housing society, claiming that its sewage treatment plant (STP) had been out of order for…

Latest StoriesRegulatory

NCLAT Orders Chronos Properties to Renew Bank Guarantee for IL&FS

NEW DELHI: On Friday, the National Company Law Appellate Tribunal (NCLAT) instructed Brookfield-backed Chronos Properties to renew the bank guarantee for the acquisition of the flagship Bandra Kurla Complex property from Infrastructure Leasing and Financial Services Ltd (IL&FS). In an interim order, NCLAT also prohibited the debt-laden IL&FS group from creating third-party rights on its headquarters until the appeal is resolved. NCLAT emphasized the necessity for Chronos to renew the Performance Bank Guarantee to avoid disqualification in acquiring the IL&FS headquarters. Both parties have been directed to finalize pleadings, file replies, and rejoinders by January 16, with the next hearing…

Housing FinanceLatest Stories

Ajai Kumar Shukla Appointed MD and CEO of PNB Housing Finance

India’s PNB Housing Finance has appointed Ajai Kumar Shukla as its managing director and CEO for a five-year term starting December 18, resulting in a 5% increase in the mortgage lender’s shares. Shukla brings over 30 years of experience in housing and mortgage lending and will take over from Girish Kousgi, who was instrumental in accelerating the company’s growth in the affordable housing sector, outperforming its competitors. The announcement comes as significant home financiers face growing challenges from banks in the luxury home lending market, while affordable housing has become more appealing due to higher yields and limited competition. Currently…

InfrastructureLatest Stories

DDA Demolishes Illegal Farmhouses in Sainik Farms, Recovers 4.5 Acres

NEW DELHI: On Friday, the Delhi Development Authority (DDA) conducted a demolition operation in Tilpath Valley, located in the Sainik Farms area of south Delhi, targeting illegal constructions on land designated for a biodiversity park. Officials confirmed that the demolished structures were not protected under the National Capital Territory of Delhi (Special Provisions) Act, 2014, which typically shields jhuggi jhopri (JJ) clusters from demolition. The action specifically took place on Khasra numbers 595, 596, and 620. During an initial phase of the operation on December 5, nine properties were identified by the DDA. Out of these, five properties—including two fully…

Latest StoriesResidential

AIPL to invest ₹987.25 crore in Dwarka Expressway project

NEW DELHI: AIPL, based in Gurugram, is set to invest ₹987.25 crore in the development of its residential project, Riviera, at AIPL LakeCity in Sector 103 along the Dwarka Expressway. As per the company’s filing with the Haryana RERA website, the project’s total estimated cost is ₹987.25 crore, which includes ₹183.72 crore for land acquisition and ₹456.54 crore for construction. Spanning 5.14 acres, Phase I of the project is projected to generate revenues of ₹1,500 crore. It will consist of two high-rise towers, each 43 floors tall, featuring 3 and 4 BHK units. The company has appointed Morphogenesis as the…

IndustryLatest Stories

Satya, Maple Group to Invest ₹1,600 Crore in Dwarka Project

NEW DELHI: The Satya Group and Maple Group have made a ₹1,600 crore investment to launch Levante Residences, a high-rise residential project located in Sector 104, Gurugram, adjacent to the Dwarka Expressway. This project will encompass five acres and consist of three towers, each with 47 floors, offering a total of 488 units. Apartment options include 3BHK, 4BHK, and 5BHK configurations, with prices starting at ₹2.96 crore. Construction is anticipated to begin in January 2026, with completion projected for 2030. The funding for this investment will be secured through promoter equity, ASK Fund, and internal cash flows, with expected sales…

Latest StoriesRegulatory

High Court Directs Haryana: Map Aravalis and Define Forests

GURUGRAM: The Punjab and Haryana High Court has directed the Haryana government to provide a clear and legally sound definition of the Aravali forest landscape in the state. The case will be revisited on January 9, 2026, during which the government is expected to submit an affidavit “mapping the exact area” of the Aravalis, in accordance with previous Supreme Court rulings and a recent apex court judgment from last month. The bench, comprising Chief Justice Sheel Nagu and Justice Sanjiv Berry, issued the directive on Tuesday while examining a public interest litigation initiated by activist Harinder Dhingra. They instructed Principal…

Latest StoriesRegulatory

NGT Extends Sand Mining Ban in Goa Rivers Until Next Month

Representative AI image PANAJI: The National Green Tribunal (NGT) has prolonged the ban on sand mining in Goa’s rivers until January 28, 2026. This decision follows an appeal by the Goa River Sand Protection Network against 12 environmental clearances issued by the state. This extension was prompted by a request from the Goa Coastal Zone Management Authority for additional time to respond during a December 8 hearing. The NGT’s ruling specifies that the “director of mines and geology shall not permit any mining activity in the area in question until the next hearing date.” The Goa River Sand Protection Network…

Latest StoriesResidential

Free Land Regularization for 70,000 Families in Marathwada

NAGPUR: On Thursday, approximately 70,000 families in Marathwada, including Chhatrapati Sambhajinagar and the Rajura area of Chandrapur district, experienced significant relief as the long-standing issue regarding ‘Madat Mash’ inam lands was addressed. The Legislative Assembly unanimously approved the ‘Hyderabad Inam and Cash Grants Abolition (Amendment) Bill, 2025′ (Bill No. 101). This legislation grants free regularization of residential houses built on these lands, providing full Occupant Class-1 ownership rights without any associated premium or nazarana. Revenue Minister Chandrashekhar Bawankule introduced the Bill, noting that under the 1954 Act, these lands were classified as Occupant Class-2 (new and impartible tenure), which limited…