Category: Latest Stories

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IndustryLatest Stories

Vasai Arrests: Only One Town Planner Remains, Files Pile Up

VASAI: The recent arrest of Y S Reddy, deputy director of the Vasai-Virar civic body’s town planning department, along with ex-commissioner Anil Pawar, in a money laundering scandal linked to alleged corruption and unauthorized construction, has led to unexpected consequences. The backlog of building project approvals has soared due to a staffing shortage, resulting in significant revenue losses. Following the arrests, one of the two remaining officials in the department took leave and has not returned, leaving only one town planner to manage operations. A civic official confirmed, “Due to the lack of senior planning officers, no files have been…

IndustryLatest Stories

Hero Realty Acquires 8.71 Acres in Mohali for ₹262.75 Crore

Representative image created by AI Hero Realty, through its subsidiary Vikas Parks Pvt. Ltd., has acquired a prime 8.71-acre land parcel in Sector 99, Mohali, through an auction held by the Greater Mohali Area Development Authority (GMADA) for ₹262.75 crore, according to sources familiar with the matter. The company plans to develop a residential project. “Mohali has always been a strategically important market for us. We continue to explore new collaborations to further enhance our presence in northern Indian cities,” stated Rohit Kishore, CEO of Hero Realty. Hero Realty has already established a footprint in Mohali with its Hero Homes…

Latest StoriesRegulatory

Rajkot: FIR Against Builder for Selling Encumbered Flats

RAJKOT: Hetal Tilala, a 40-year-old schoolteacher, has lodged a complaint with the Rajkot Taluka police against property developer Viren Sindhav, alleging fraud. Tilala purchased a flat in Shivay Apartments from Sindhav in 2018, allowing her brother-in-law Kishan to reside there. On May 26, 2020, Sindhav executed a registered sale deed for the flat, asserting it was free from any encumbrances. On May 12, 2025, Kishan informed Tilala that a legal notice addressed to her was issued by a law firm representing Mandavrayji Credit Co-operative Society Ltd. The notice stated that Sindhav had taken a ₹5 crore cash credit loan at…

Latest StoriesResidential

Goa to Regularize 20-Point Plots; Collectors Can Issue Sanads

Representative AI image PANAJI: The revenue department is taking steps to regularize residential plots allocated under the 20-Point Programme scheme for underprivileged sections, addressing long-standing challenges faced by allottees in obtaining necessary clearances and financial aid. A recent circular from the revenue department indicates that district collectors in both North and South Goa are now empowered to directly issue Class I sanads, even for lands valued over Rs 50,000, without needing to consult the council of ministers. Once regularized, these grants will be classified under Section 37B of the Goa Land Revenue Code, 1968. Beneficiaries are also permitted to approach…

Latest StoriesRegulatory

HC Denies Relief to Ansal Properties; HRERA Penalties Stand

CHANDIGARH: The Punjab and Haryana High Court has determined that the interim penalty orders issued by the Haryana Real Estate Regulatory Authority (HRERA) against Ansal Properties and Infrastructure Ltd are appropriate and should not be challenged under writ jurisdiction. The court affirmed that the penalties were legitimately imposed under the Real Estate (Regulation and Development) Act, 2016 (RERA) for statutory non-compliance. Despite undergoing insolvency proceedings, the company must ensure adherence through its resolution professional. The High Court clarified that the petitioner has the alternative option of appealing to the Real Estate Appellate Tribunal under Section 43(5) of the RERA Act,…

Latest StoriesRegulatory

SC directs states and UTs to enhance real estate agencies

BHUBANESWAR: The Supreme Court has issued important directives to enhance the functionality of real estate regulatory authorities throughout India, including the Odisha Real Estate Regulatory Authority (ORERA). The ruling in the case of Mansi Brar Fernandes vs Shubha Sharma and others, delivered on September 12, requires states and Union Territories to implement thorough measures to empower RERA bodies to effectively manage the sector. The SC’s directive underscores the necessity for adequate staffing and infrastructure within RERA authorities. Every RERA must include at least one member who possesses legal expertise or experience as a consumer advocate in real estate. This aims…

Latest StoriesRegulatory

Developer, 7 Others Arrested for Selling Mortgaged Flats

PUNE: The Dehu Road police have filed a case against a developer from Malinagar in Dehu and seven accomplices, accused of defrauding eight homebuyers of ₹1.84 crore by selling flats that were already mortgaged to a credit society. A complaint was lodged by one of the flat owners with the Dehu Road police against the developer and his associates. An officer stated that the complainant and seven others purchased flats within the housing complex in Malinagar between 2021 and 2023. The scam was uncovered in May 2025 when other residents alerted the complainant that the developer had secured a loan…

CommercialLatest Stories

Tamil Nadu Housing Board Offers Affordable Commercial Hubs

CHENNAI: The Tamil Nadu Housing Board (TNHB) is positioning its new commercial complexes throughout Chennai as affordable hubs, providing space at rates of ₹88–118/sqft, which is nearly 20% cheaper than private rentals. The first occupants include agencies such as the Employee’s Provident Fund Organisation (EPFO) and GST. TNHB has already sold its complexes in Chintamani and Anna Nagar to government bodies, including the TN Real Estate Regulatory Authority. Additionally, seven new complexes have emerged in prime areas such as Ashoka Colony in KK Nagar, Mogappair, CIT Nagar, Arumbakkam, Ashok Nagar, Peters Colony, and Besant Nagar. With metro connectivity and central…

Latest StoriesRegulatory

Bombay HC: Court Overstepped, Returns 16-Acre Plot to Builder

MUMBAI: The Bombay High Court has reinstated a ruling from a Borivli metropolitan magistrate indicating that a developer had possession of a plot exceeding 16 acres near the Dahisar checkpost as of April 22, 2017. On Tuesday, Justice Amit Borkar nullified a decision by the Dindoshi sessions court and directed the court receiver to return possession of the land to Romell Housing and its associate, Jude Romell, “strictly in accordance” with the magistrate’s directive. Romell alleged police misconduct after purchasing the property in 2016 from its previous owners, having compensated Kamruddin Shaikh, who held possession of the land. Following the…

IndustryLatest Stories

Indiabulls AMC, others resolve AIF violations case with Sebi

NEW DELHI: Indiabulls Asset Management Company, now known as Groww AMC, along with its schemes and former officials, settled a case with SEBI regarding alleged breaches of alternative investment fund regulations after a payment of ₹1.43 crore. Those involved in the settlement include Indiabulls AIF, Indiabulls Dual Advantage Real Asset Fund (IBDARA), Indiabulls Real Estate Fund (IBREF), Ambar Maheshwari, Amit Jain, and Parth Muria, as stated in a SEBI order. The case was related to violations reportedly dating back to 2017. In 2023, Indiabulls AMC was acquired by the fintech company Groww. It has three business sectors: mutual funds, alternative…