Category: Latest Stories

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IndustryLatest Stories

Sebi Expands Strategic Investor Definition for REITs, InvITs

NEW DELHI: The Securities and Exchange Board of India (Sebi) has expanded the definition of “strategic investor” for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), aiming to enhance investor participation in their public offerings. This revised criteria will facilitate capital attraction for these trusts, promote flexibility, and overall ease of business operations. Sebi identified that the previous definition of strategic investor was too limited, excluding significant institutional investors like pension funds, provident funds, and insurance funds. While these entities are active in REITs and InvITs due to their interest in long-term, stable income-generating assets, they were not…

IndustryLatest Stories

Bihar Launches Program to Resolve Land Disputes

PATNA: On Wednesday, Revenue and Land Reforms Minister Vijay Kumar Sinha announced the launch of a new initiative titled ‘Bhumi Sudhar Samvad’ (Land Reforms Dialogue) on December 12. This program aims to assist citizens in resolving land-related issues and updating their documents. A dedicated team named ‘Udan Dasta’ will be established to oversee and prevent land fraud. Sinha noted that the department has received approximately 46 lakh applications concerning land disputes, with nearly 12 lakh already resolved and documented on the portal. “The government is committed to addressing land disputes at the grassroots level while ensuring transparency,” he stated. During…

CommercialLatest Stories

MPIDC Secures Approval for 300 Hectares in Indore-Pithampur Corridor

Representative image INDORE: The Madhya Pradesh Industrial Development Corporation (MPIDC) has secured agreement from landowners for approximately 300 hectares as part of the land pooling initiative for the planned 19.60 km Indore–Pithampur Economic Corridor, marking a major milestone in this high-value infrastructure project. The estimated cost of the corridor exceeds Rs 2,400 crore and is designed to enhance connectivity between Indore and Pithampur, a key industrial hub in the state. Officials stated that the corridor encompasses a total planning area of 1,177 hectares, comprising 954 hectares of private land across 17 villages and 222 hectares of government land. To date,…

IndustryLatest Stories

Kochi: Nodal Officer Appointed for Infopark Phase III Land Pooling

Representative AI image KOCHI: The government has appointed Shaji V Nair, the current CEO of Cochin Smart Mission Ltd, as the nodal officer for the land pooling process of the Infopark Phase III project. This project covers approximately 500 acres and is anticipated to accelerate the land pooling procedures. Previously, the Greater Cochin Development Authority (GCDA) requested the government to appoint a nodal officer for the land pooling initiative. The authority has already identified specific land parcels designated for pooling for the proposed Phase III campus, with around 300 acres in the Kizhakkambalam panchayat earmarked for the integrated IT township.…

Latest StoriesRegulatory

HC Overturns Chandigarh Board’s Denial of Flats to Jhuggi Dwellers

CHANDIGARH: The Punjab and Haryana High Court has annulled the Chandigarh Housing Board’s (CHB) decision to deny flats to several jhuggi dwellers under the Chandigarh Small Flats Scheme, 2006. The court observed that the authorities failed to provide these individuals with an opportunity to be heard. Consequently, it has mandated the administration to revisit the issue and make a decision within two months. A division bench consisting of Justice Anupinder Singh Grewal and Justice Mandeep Pannu issued this ruling while addressing a petition presented by Rajesh Kumar Giri and others. The bench noted that the jhuggi dwellers had their claims…

Latest StoriesRegulatory

EOU Forms STF to Combat Sand and Land Mafias in Bihar

Representative Image PATNA: The Economic Offences Unit (EOU) has established a Special Task Force dedicated to combating illegal sand mining and land mafia activities in Bihar. Led by EOU DIG Manavjit Singh Dhillon, the task force will investigate illegal assets, perform financial inquiries, and confiscate properties linked to criminal operations. They will also collaborate with government agencies and district administrations for further actions, as stated by a senior EOU official on Wednesday. EOU ADG Nayyar Hasnain Khan revealed that the task force consists of SP Rajesh Kumar, four DSPs, and five inspectors. “The team will investigate how these mafias acquired…

IndustryLatest Stories

Vadodara: Chaos at Town Hall Over PMAY Draw Delay

VADODARA: A significant uproar occurred at the Sir Sayajirao Nagargruh town hall in Akota, Vadodara, on Wednesday as beneficiaries protested the delay in house draws under the Pradhan Mantri Awas Yojana (PMAY). The Vadodara Municipal Corporation (VMC) was set to conduct draws for 2,700 homes under various PMAY schemes. Beneficiaries had been notified of the draw scheduled for Wednesday. However, for unforeseen reasons, the civic body postponed the draws for one day. A senior VMC official stated, “We were cautious and sent two messages to each beneficiary regarding the postponement.” Despite this, numerous beneficiaries gathered at the town hall on…

Latest StoriesResidential

Residents blame Ahmedabad civic body for delaying action on illegal building

AHMEDABAD: Residents of Adhikar Co-operative Housing Society in the D-Cabin area of Sabarmati have accused the Ahmedabad Municipal Corporation (AMC) of neglecting their complaints regarding a five-storey illegal building within their property, despite raising issues consistently for the past 18 months. As per society officials, the building—which includes 24 rooms allegedly intended for renting as paying-guest accommodation—was erected without any approvals from the society, government authorities, or the AMC. Residents claim that work continued unabated even after the civic body issued notices and sealed the site. Rakesh Kumar Mishra, the society chairman, expressed frustration over the lack of action, stating,…

IndustryLatest Stories

Indirapuram’s Real Estate Soars Amid Poor Civic Infrastructure

GHAZIABAD: A newly launched housing project with a starting price of Rs 5 crore has positioned Indirapuram as a hotspot for premium real estate in NCR. However, residents express their concerns over rising property rates. “It’s disheartening to see so many issues,” lamented a local from Ahimsa Khand 1. “The roads are torn up for drainage work, and clouds of dust linger during peak pollution. Traffic is a nightmare, and there seems to be no police presence to assist. Every day, the township feels less livable,” they added. As a township adjacent to the Delhi-Meerut Expressway, which is favored for…

Latest StoriesRegulatory

Govt to investigate low bids for cessed South Mumbai repairs

NAGPUR: On Wednesday, the state government initiated an inquiry into tenders that were allegedly quoted “below estimated price” for the rehabilitation of aging and crumbling buildings in Mumbai, following claims of irregularities raised in the assembly. During a discussion regarding nearly 16,000 cessed buildings in south Mumbai, Congress MLA Amin Patel urged the government for immediate action to accelerate their redevelopment. He pointed out that tenders issued by Mhada received bids that were 100-140% lower than the estimated costs. “Under the guise of repairing these dilapidated buildings, contractors are illegally adding extra floors and profiting from the sale of these…