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IndustryLatest Stories

Noida Authority Cancels Sports City Land Over Unpaid Dues

NOIDA: The Noida Authority has rescinded the allotment of approximately 1.1 lakh sqm of land to Lotus Greens Constructions, the primary developer of the Sports City project in Sector 150. This decision comes after the builder failed to pay land dues despite numerous reminders over the last nine years. The cancellation order, issued on September 4, is the first action taken against a Sports City developer since the scheme launched over a decade ago. Noida Authority CEO Lokesh M stated, “We will now take possession of the land.” Officials revealed that Lotus Greens was initially granted nearly 12 lakh sqm…

Latest StoriesRegulatory

Ex-Lodha Developers Director in 14-Day Fraud Custody

MUMBAI: On Monday, a court here placed former Lodha Developers director, Rajendra Lodha, under 14-day judicial custody following his arrest in an alleged fraud case, denying the police requests for additional remand. Lodha appeared before Additional Chief Metropolitan Magistrate V R Patil at the conclusion of his previous remand period. The police sought an extension of his custody, citing ongoing verification of documents related to Lodha’s financial sources gathered during their investigation. The law enforcement agency highlighted that a forensic audit is being conducted, necessitating further interrogation of the accused based on findings from this audit. The crime branch apprehended…

Latest StoriesResidential

Hiranandani Group Unveils 225-Acre Township in Alibaug

NEW DELHI: Hiranandani Communities has unveiled its latest township project, Hiranandani Sands, spanning over 225 acres in Alibaug, Maharashtra. This initiative anticipates generating revenue projections of ₹17,000 crore. The initial phase covers 3.3 lakh sq ft and includes three residential towers with 330 units, featuring studio, 1, 2, and 3 BHK apartments. Prices start from ₹80 lakh for studios and go up to ₹2.85 crore for high-end 3 BHK homes. The launch of the project saw gross sales reaching ₹450 crore. The township will comprise residential homes, villas, plotted developments, and branded serviced apartments, along with five hotels, a convention…

Latest StoriesRera

Uttar Pradesh RERA Takes Action Against Several Builders

NEW DELHI: In response to numerous complaints from homebuyers, the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has initiated strict measures against various promoters and has directed multiple cases to be presented before the Authority for penalties under the Real Estate (Regulation and Development) Act. UP-RERA stated that these actions are aimed at reducing violations and enhancing buyer trust and transparency in home purchases. The bench referenced provisions including Section 13 (prohibiting the collection of more than 10% advance without a registered sale agreement), Section 61 (allowing for penalties of up to 5% of estimated project cost for violations of…

Latest StoriesRegulatory

Chennai collects ₹910 crore in property tax, eyes ₹1,100 crore goal

CHENNAI: During the first half of the 2025–26 financial year, the Greater Chennai Corporation collected ₹910 crore in property tax, aiming for a target of ₹1,100 crore from April to September. Civic officials announced plans to ramp up collection efforts to meet the financial goal. To enhance compliance, the Corporation is providing various online and offline payment solutions, as well as sending reminders to defaulters. In past years, the civic body organized special camps specifically for property tax collection; however, this year saw no such events, as more taxpayers opted for online payments. Officials noted that digital reminders and simplified…

IndustryLatest Stories

YEIDA allocates 49 plots near Yamuna Expressway

Representative Image NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) finalized the allotment process for two significant schemes on Friday. These include industrial plots related to its MSME, Toy Park, Apparel Park, and Handicraft Park initiatives, as well as plots for the Medical Device Park scheme. A total of 49 plots have been allocated across both schemes, which are projected to attract nearly ₹800 crore in investments. In the industrial plot scheme, which was open for applications from May 8 to July 31, YEIDA offered 37 plots of up to 8,000 sqm in sectors 29, 32, and 33. From 527…

IndustryLatest Stories

Nagpur: 260+ Properties Default on ₹442 Crore Tax

NAGPUR: The Nagpur Municipal Corporation (NMC) is facing significant challenges in securing funding for essential projects, now compounded by the revelation that 261 prime properties in the city have defaulted on property tax payments exceeding Rs 25 lakh each, with total arrears reaching a shocking Rs 442.34 crore. If NMC can recover even some of these dues, officials believe it could greatly benefit the Nag River Pollution Abatement Project. As per official records, the most substantial defaults occur in the Hanuman Nagar zone, where 21 properties collectively owe Rs 106.02 crore. This is closely followed by Lakadganj zone with 29…

Latest StoriesResidential

RAY Towers: Kerala CM Highlights Model Resettlement Project

Sure! Here’s a rewritten version of the content: — File Photo KOCHI: The newly built twin housing complex in Thuruthy, developed by the Kochi municipal corporation under the Rajiv Awas Yojana (RAY) scheme, has been hailed as a national model for resettlement projects by Chief Minister Pinarayi Vijayan. Inaugurating the towers on Saturday, Vijayan emphasized that the Thuruthy apartment complex exemplifies cooperative federalism, showcasing successful collaboration between the Union and state governments, as well as local self-governing bodies. The state government has launched several initiatives for the enhancement of Kochi and its surrounding regions, including the development of Kochi Metro,…

Latest StoriesResidential

Ghaziabad Body to Collaborate with NBCC for Tulsi Niketan Redevelopment

GHAZIABAD: Four months after a balcony collapse claimed two lives in Tulsi Niketan, the Ghaziabad Development Authority (GDA) is partnering with the National Buildings Construction Corporation (NBCC) for redevelopment of the deteriorating colony in Bhopura area. On Friday, the GDA held a meeting with NBCC officials to discuss a redevelopment plan. “Tulsi Niketan is on the city’s ‘unsafe colony’ list. During the meeting, NBCC was tasked with preparing a pre-feasibility report for the revamp project, due in a week,” stated GDA Secretary Rajesh Kumar Singh. “NBCC will later create a detailed project report and may proceed with redeveloping the entire…

Latest StoriesRegulatory

Bombay HC Orders Action on Illegal Slum Tenement Deprivation

MUMBAI: The Bombay High Court recently took significant action to support eligible slum residents wrongfully denied their rehabilitation tenements. The court has instructed the principal secretary of the State Urban Development Department to formulate a system, in collaboration with the CEO of the Slum Redevelopment Authority (SRA), to identify illegal occupants within various schemes. A two-judge bench, consisting of Justices Girish Kulkarni and Aarati Sathe, emphasized that adherence to the court’s directives would provide justice to those rightfully entitled to tenements but currently deprived, not only due to illegal actions by builders but also because of SRA officials who operate…