Category: Latest Stories

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Latest StoriesResidential

Bhubaneswar: Plot Handover in Vasudev Vihar Delayed for Buyers

Representative AI image BHUBANESWAR: Progress in handing over the plots in the Vasudev Vihar scheme has been slow, with the Odisha State Housing Board (OSHB) yet to finish their development. In April 2022, OSHB, a state agency under the housing and urban development department, advertised the property comprising 166 plots of various sizes in Jagannathpur mouza, with bookings concluding in May 2022. The allotment procedure, initiated through a lottery system, was expected to conclude by December 2023, although the handover has yet to occur. Many buyers, primarily retired government employees, are eagerly waiting to take possession of the plots where…

InfrastructureLatest Stories

Hyderabad: GHMC Plans to Double Wards to 300

Representative AI image HYDERABAD: The proposed merger of 27 municipalities into the Greater Hyderabad Municipal Corporation (GHMC) signals a substantial overhaul of the city’s administrative framework. Current plans could see the existing 150 wards, covering 650 sq km, expanding to nearly 300 wards across over 2,000 sq km, according to sources from the civic body. If implemented, the GHMC would become India’s largest municipal body by area (2,053 sq km) and the biggest elected municipal body in the country. The current largest is the Municipal Corporation of Delhi (MCD) with 250 wards, followed closely by the Brihanmumbai Municipal Corporation (BMC)…

Latest StoriesRera

Mohali: 10-Year Wait Ends as RERA Orders Developer to Deliver SCO

MOHALI: In a significant development for buyers who have been waiting nearly a decade, the Real Estate Regulatory Authority (RERA) of Punjab has ordered a private developer to hand over possession of a commercial shop-cum-office (SCO) in Sunny Enclave, Sector 124, Mohali. The ruling was prompted by a complaint from two residents of Mohali, Santosh Machagalath Krishnan and Nisha Puliyoth Nandanan of Sector 125, who claimed they had paid the full cost of the unit and completed all necessary paperwork, yet had not received physical possession. The complainants had booked SCO no. 178, spanning 62.22 square yards in High Plaza…

Latest StoriesRera

Odisha REAT Ensures Homebuyer Rights in Realty Dispute

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has dismissed appeals from a public sector bank that sought to auction a real estate project in the city, where buyers have made significant investments. The bank’s appeal challenged a prior ruling from the Odisha Real Estate Regulatory Authority (ORERA) after the project promoters defaulted on loan repayments. The tribunal concluded that by initiating auction proceedings under the SARFAESI Act, 2002, the bank “stepped into the shoes of the promoter” and is required to assist in completing the halted housing project. This dispute originated from two separate complaints lodged by allottees of…

Latest StoriesRegulatory

Bombay HC Dismisses WeWork India IPO Challenge, Imposes ₹1 Lakh Fee

MUMBAI: The Bombay High Court has dismissed two writ petitions filed by Vinay Bansal and Hemant Kulshrestha that aimed to prevent WeWork India’s initial public offering (IPO), effectively ending their last-minute legal challenge. A Division Bench consisting of Justice RI Chagla and Justice Farhan Parvez Dubash rejected the petitions and imposed a cost of Rs 1 lakh on Vinay Bansal, instructing him to deposit the amount with the Maharashtra State Legal Services Authority within two weeks. The court reserved its decision on October 8 after the arguments were concluded and delivered the ruling orally today. A detailed written judgment is…

Latest StoriesRegulatory

NCLT Rejects Chronos Properties’ ₹1,080 Cr Bid for IL&FS BKC

MUMBAI: The National Company Law Tribunal (NCLT) has rejected the ₹1,080 crore bid from Brookfield-backed Chronos Properties for the acquisition of Infrastructure Leasing and Financial Services Ltd (IL&FS)’s flagship Bandra Kurla Complex property. On November 28, the NCLT’s Mumbai Bench dismissed Chronos’s application to enforce its bid for the IL&FS Financial Centre located at BKC. The tribunal upheld IL&FS’s right to amend the transaction consideration. It confirmed that the Letter of Intent (LoI) dated March 21, 2022, is a binding contract between the parties, but noted that it includes provisions allowing IL&FS to unilaterally modify the agreement, including financial terms,…

Latest StoriesResidential

Sushmita Sen and Mom Acquire Two Mumbai Apartments for ₹16.89 Cr

NEW DELHI: Sushmita Sen’s mother, Subhra Sen, has acquired two apartments in the Elysian project by Oberoi Realty located in Goregaon East, Mumbai, for a total of ₹16.89 crore. Both purchases were officially recorded in November 2025. Subhra Sen’s first property cost ₹8.40 crore and encompasses a carpet area of 163.59 sq meters (1,760 sq ft), which also includes one designated car parking space. The transaction involved a stamp duty fee of ₹42.02 lakh along with registration charges of ₹30,000, as per property registration documents reviewed by Square Yards. The second apartment was acquired for ₹8.49 crore and shares the…

Latest StoriesResidential

Hyderabad: 40% of Neopolis Homes Struggle Amid Big Land Auctions

HYDERABAD: Recent high-stakes land auctions have spotlighted Neopolis, Kokapet’s prime real estate area, but the situation on the ground is less promising for developers. Industry estimates indicate that about 40% of the over 10,000 homes launched here in recent years are struggling to sell, particularly larger units exceeding 4,500 square feet, with some projects reaching up to 7,000 square feet. “With the latest auctions and project announcements, unsold inventory is expected to increase further. We could see an additional 4,000 units added to the market, potentially slowing sales,” cautioned a senior real estate consultant, emphasizing the over-saturation in Hyderabad’s property…

Latest StoriesResidential

Maharashtra Seeks SRA Input on Housing for First-Floor Slum Residents

Representative image MUMBAI: The state government has requested a report from the Slum Rehabilitation Authority (SRA) about allowing slumdwellers on the first floor of chawls to qualify for free or affordable housing. Officials from the housing department noted that the finance department is seeking detailed information on the potential financial implications for the government if concessions or exemptions are granted to developers to include first-floor slumdwellers in housing schemes. “The SRA must promptly address the finance department’s inquiries. Once that is accomplished, the matter will be presented to the state cabinet for approval, leading to the issuance of a government…

Latest StoriesResidential

Vasant Kunj Residents Protest Group Housing on Morphological Ridge

NEW DELHI: Residents of B-1, Vasant Kunj, protested at Jantar Mantar on Sunday against the approval of a group housing project proposed on the Morphological Ridge. The project received clearance from the Supreme Court-appointed Centre Empowered Committee, along with NoCs from DDA, MCD, the Airports Authority of India, and the Union Ministry of Environment, Forest and Climate Change, as well as the State Level Expert Appraisal Committee. Protesters carried placards that read “Our Air, Our Right — Not for Sale” and “Building Towers, Burying Lungs,” voicing their opposition to the plans for three 10-storey luxury towers with three-level basements on…