Category: Latest Stories

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Latest StoriesRegulatory

Madras HC Bans Resorts and Hotels in Elephant Corridor

CHENNAI: The Madras High Court has reinforced a total ban on commercial activities in the Segur Plateau Elephant Corridor, following the findings of the Segur Plateau Elephant Corridor Inquiry Committee established by the Supreme Court. This prohibition extends to all resorts and hotels. The landowners are permitted to maintain and cultivate their properties in an environmentally friendly way that does not disturb the elephants, without installing artificial barriers like electric fences. This was affirmed by a special bench comprising Justice N Sathish Kumar and Justice D Bharatha Chakravarthy. The bench reiterated that the committee’s findings, led by former judge Justice…

Latest StoriesResidential

20-Year Ban on Selling Regularized Houses in Goa: Draft Rules

PANAJI: The recently notified draft rules for the regularization of houses on government land specify that beneficiaries will not be permitted to sell or transfer the land, or any part of it, for a period of 20 years from the date of regularization. The state government has indicated that any transfer after 20 years will still require government approval. The draft Goa Land Revenue (Disposal Of Govt Land) (Amendment) Rules, 2025, further stipulates that applicants may incur a jail term of up to two years or a fine of up to Rs 1 lakh if they submit false declarations or…

Housing FinanceLatest Stories

Easy Home Finance Secures Long-Term Funds from Franklin Templeton

Home financing startup Easy Home Finance has successfully raised $35 million in a funding round spearheaded by Ranjan Pai’s family office, Claypond Capital, alongside Japanese financial giant Sumitomo Mitsui Banking Corporation’s Asia Rising Fund. The startup has secured long-term financing through an NCD issuance with Franklin Templeton Alternative Investments Fund, India (Franklin Templeton AIF). This investment was facilitated through the Franklin India Credit AIF, a fund tailored for private credit opportunities. The funding will bolster the company’s expansion in promising housing regions and strengthen its capital foundation. “The support from Franklin Templeton significantly validates our strong credit framework, inclusive business…

Latest StoriesResidential

Rajasthan Housing Board Projects Thrive in Small Towns

JAIPUR: The Rajasthan Housing Board (RHB) has seen significant interest in its recently launched residential schemes targeting smaller towns and semi-urban areas within the state. On August 20, urban development and housing minister Jhabar Singh Kharra introduced several residential and commercial initiatives across major towns, smaller communities, and semi-urban regions. Shortly after, RHB began accepting applications for these projects. “Despite the application deadline being set for September 19, we received a higher volume of applications than available units for projects in Nainwa, Bundi district, and the Badi Road scheme in Dholpur. It’s encouraging to see such an interest even in…

Latest StoriesResidential

NBCC Requests Approval to Demolish Six Unsafe Towers in Gurugram

GURUGRAM: NBCC (India) Ltd, a government-run company, is advocating for the demolition of the remaining unsafe structures within the Green View housing project located in Sector 37D. After previously demolishing part of the project upon its designation as uninhabitable in 2022, the company has requested additional permissions from the Department of Town and Country Planning (DTCP) to raze six more towers. Earlier this year, DTCP approved the demolition of three towers (E, F, and G), which are currently undergoing dismantling. NBCC officials emphasize the importance of timely approval to avert any potential accidents, as the remaining structures pose a significant…

IndustryLatest Stories

Pune Deputy CM Orders Stop-Work Notices to Non-Compliant Builders

PUNE: On Sunday, Deputy Chief Minister and Pune’s guardian minister Ajit Pawar emphasized the need for authorities to contemplate issuing stop-work notices to builders who disregard civic regulations. This statement was made during a review visit to Hadapsar constituency, where he communicated with officials from the Pune Municipal Corporation (PMC) and local residents. In response to citizen complaints regarding poor facilities, subpar road infrastructure, and water shortages in the area, Pawar stated, “Builders need to improve their practices and provide necessary amenities. Authorities must take decisive action against those who act unprofessionally. If building codes are not adhered to, stop-work…

Latest StoriesRegulatory

HC Orders Noida to Provide Water to Wish Town Flats in 2 Weeks

Here’s a rewritten version of the provided content: — NOIDA: The Allahabad High Court has mandated the Noida Authority to grant water connections to Wish Town within two weeks, contingent upon Jaypee Infratech Limited (JIL) providing a renewable bank guarantee of Rs 60 crore. This ruling, issued on Thursday by a division bench consisting of Justices Shekhar B Saraf and Praveen Kumar Giri, also imposed a stay on recovering Rs 23 crore in disputed charges until the next hearing. The bench was addressing a writ petition from JIL that contested the Authority’s demand for external development charges linked to the…

Latest StoriesRera

West Bengal REAT Dismissing Complaint vs. Sreeram Enterprise

KOLKATA: The West Bengal Real Estate Appellate Tribunal has dismissed a complaint from landowners against Ashok Dutta, owner of Sreeram Enterprise, ruling that pursuing the same claims in multiple legal venues simultaneously is inadmissible. The dispute arose from a development agreement signed on August 17, 2015, between Ashok Dutta and several landowners, including Champak Bhattacharjee, to develop a property at 10, Italgacha Road, Dum Dum, involving the construction of three buildings. However, conflicts among co-owners regarding flat allocations caused delays. Though construction was completed, ongoing disagreements about flat distribution led the complainants to file a case with the State Consumer…

InfrastructureLatest Stories

Mohali Body Threatens FIRs for Illegal Construction in New Chandigarh

MOHALI: The Greater Mohali Development Authority (GMADA) has issued a warning that FIRs will be filed against individuals engaging in illegal construction across six villages in New Chandigarh: Mirzapur, Jayanti Majri, Bharonjian, Karoran, and Seonk. This statement comes in response to recent reports of unauthorized building activities in the region. GMADA has made it clear that any construction undertaken without their prior approval is prohibited, and violators will face stringent legal consequences. In an affidavit presented to the NGT, GMADA’s Additional Chief Administrator (ACA) Rakesh Kumar Popli disclosed that action is being enforced against offenders who have violated various regulations,…

Latest StoriesRegulatory

NCLAT Upholds Order to Recall Logix Infra Insolvency Case

NEW DELHI: The NCLAT has affirmed the National Company Law Tribunal’s (NCLT) decision to rescind its earlier ruling regarding an insolvency case against Logix Infrastructure, labeling the debt claim as “fraudulent” and “malicious”. A two-member NCLAT bench noted that the plea for the Corporate Insolvency Resolution Process (CIRP) against Logix, which is developing the Blossom County project in Noida Sector 137, is grounded in collusion and lacks integrity. “Given the facts of this case, we see no errors in the NCLT’s orders allowing the Section 65 application from the Respondents. Thus, reversing Section 7 proceedings does not constitute a review…