Category: Latest Stories

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InfrastructureLatest Stories

Punjab directs Mohali body to acquire land under old policy

MOHALI: The Punjab government has instructed the Greater Mohali Area Development Authority (GMADA) to move forward with land acquisition under the previous land pooling policy, following the retraction of the new policy due to farmer protests. GMADA is set to acquire land for significant projects, including Aerotropolis, Eco City-3, Aerocity, and other developments spanning approximately 2,600 acres for various uses such as commercial, institutional, industrial, and residential. According to sources, the state government has recently issued new directives permitting GMADA to initiate the acquisition process until it is finalized by the cabinet. “We will be acquiring land under the previous…

InfrastructureLatest Stories

Telangana HC Notifies Collector on Illegal Bhoodan Constructions

HYDERABAD: The Telangana High Court has issued notices to Rangareddy district collector C Narayana Reddy in response to a petition alleging illegal constructions on disputed lands linked to Bhoodan lands in Nagaram village, Maheswaram mandal. The court expressed concerns over the collector’s inaction regarding the constructions, even after previous orders mandated a status quo on the properties. Justice K Lakshman questioned the absence of a report from the collector about the alleged violations and instructed him to provide a comprehensive counter on both matters by the next hearing date. The case is set for further proceedings on October 10. Previously,…

Latest StoriesRegulatory

Bombay HC Demands Report from SRA CEO on Half-Sold Flats

MUMBAI: The Bombay High Court has taken a serious stance regarding illegal transfers of flats built under the slum rehabilitation scheme in Sion-Koliwada. The court has called for a report from the CEO of the Slum Rehabilitation Authority (SRA). It was reported that although a part-occupation certificate was issued to Nirmal Nagar SRA CHS on January 7 to house 804 slum-dwellers, 410 of them have sold their flats. “If the petitioner’s claims hold true, we have significant doubts about the legality of the Slum Rehabilitation Authority’s control over the slum schemes,” remarked Justices Girish Kulkarni and Aarti Sathe on September…

Latest StoriesRera

Odisha RERA Releases Guidelines for Easy Dispute Resolution

BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) has released comprehensive guidelines to guarantee the effective operations of the Conciliation and Dispute Resolution (CDR) cell, which aims to facilitate amicable resolutions for conflicts involving homebuyers, promoters, and agents. These guidelines outline the responsibilities of ORERA and complainants regarding grievances, promoting efficient settlement of disputes under the Real Estate (Regulation and Development) Act, 2016, through various alternative dispute resolution methods. As stated, the CDR cell will address disputes between promoters, agents, and allottees within the Act’s scope when referred by ORERA or upon application from one party. “If the authority is…

IndustryLatest Stories

Arnya Launches ₹1,000 Crore Mumbai, Pune Redevelopment Fund

Arnya Real Estate Fund has collaborated with Mumbai-based developer Supreme Universal to establish a platform for a ₹1,000 crore real estate equity fund. This fund will primarily target residential redevelopment projects in Mumbai and Pune. The fund consists of a base corpus of ₹500 crore, with an option to raise an additional ₹500 crore. It aims to facilitate scalable and structured redevelopment initiatives in two of India’s most dynamic housing markets. “Our strategy is to create an investment platform that provides investors with access to redevelopment opportunities. Mumbai’s redevelopment sector offers a scalable and resilient business model within the Indian…

InfrastructureLatest Stories

Trial Run for Metro Lines 4 and 4A in Thane: Faster Travel Ahead

THANE: On Monday, the trial run for Phase I of Metro Lines 4 and 4A took place in Thane, Maharashtra. Chief Minister Devendra Fadnavis highlighted that this project will significantly decrease travel times across the Mumbai Metropolitan Region. Fadnavis, accompanied by Deputy Chief Minister Eknath Shinde and state Transport Minister Pratap Sarnaik, rode the Metro along a 4-km stretch from Gaimukh junction to Vijay Garden. In a statement to reporters, Fadnavis noted, “We aim to complete this Metro route by the end of next year. While some work may extend into the subsequent year, this will ultimately constitute the largest…

Latest StoriesRegulatory

SC: Borrowers Lose Property Redemption Post Auction Notice Under SARFAESI

NEW DELHI: On Monday, the Supreme Court ruled that borrowers cannot reclaim property post-publication of an auction notice, as purchasers gain indefeasible rights once a sale certificate is granted by creditor banks and financial institutions under the SARFAESI Act. A bench comprised of Justices J B Pardiwala and R Mahadevan expressed concern about ambiguities in Section 13(8) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act), which was enacted in 2002 for the protection of banks and financial institutions, noting that these ambiguities have led to prolonged litigations. The Court clarified that the…

IndustryLatest Stories

Goa Cabinet Approves NBCC Sale of 1.5 Lakh Sq M of Land

PANAJI: The National Building Construction Corporation (NBCC) (India) Ltd has received approval to sell over 1.5 lakh sqm of built-up area in a prime location, primarily in Panaji, owned by the government of Goa. This amounts to more than double the built-up area assigned for the construction and redevelopment of seven projects undertaken by NBCC, which will include hotels, apartments, and office spaces for sale. The total area for these projects exceeds 77,000 sqm, with a built-up area of over 2.1 lakh sqm. The government will retain more than 62,000 sqm of built-up area, while the saleable area stands at…

Latest StoriesRera

Haryana RERA Directs Ansal Housing, Samyak to Compensate Buyer

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has mandated realtors Ansal Housing and Samyak Projects to compensate a homebuyer due to delays in the Ansal Hub 83 Boulevard project. In a ruling on Sept 18, the authority ordered the companies to pay interest of 10.9% per annum on the amount of ₹11,73,594 starting from the due possession date of April 21, 2019. The realtors are required to comply within 90 days. The authority also reversed the builders’ unilateral cancellation of the unit, labeling it as “legally invalid.” Due to the original unit being sold to a third party, the…

InfrastructureLatest Stories

Greater Noida: Amrapali Golf Homes Fined for Waste Issues

NOIDA: The Greater Noida Authority has imposed a fine of ₹25,000 on the Amrapali Golf Homes Society, a high-rise residential community located in Sector 4 of Greater Noida West, due to inadequate waste management practices. During an inspection, Additional CEO Shrilakshmi VS noted that the health department discovered significant waste accumulation on the premises, prompting warnings to the Association of Owners (AOA) and maintenance staff about adherence to the Solid Waste Management Rules of 2016. As per the SWM Rules, bulk waste generators (BWGs)—which include any residential complexes, commercial establishments, or institutions producing over 100 kg of solid waste daily—are…