Category: Latest Stories

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Latest StoriesRegulatory

SC: Speculative Realty Investors Jeopardize Genuine Buyers

NEW DELHI: The Supreme Court has emphasized the misuse of insolvency proceedings in the real estate sector, driven by speculative investors who negatively impact genuine homebuyers. The court described these investors as a “slow poison” to the residential real estate industry, motivated more by profit than by acquiring property. A bench comprising Justices JB Pardiwala and R Mahadevan expressed concern that “trigger-happy” investors often seek quick exits from projects, undermining the interests of legitimate purchasers. It stated that such entities should not exploit the Insolvency and Bankruptcy Code (IBC) or enable dishonest developers to take advantage of existing loopholes. The…

Latest StoriesRegulatory

STP Closure: Greater Noida Fines 7 Builders ₹54 Lakh

NOIDA: The Greater Noida Authority has imposed a penalty of ₹54 lakh on seven builders for failing to operate their Sewage Treatment Plants (STPs). Inspections revealed that untreated sewage was being unlawfully discharged into drains. Prerna Singh, additional CEO of the Greater Noida Industrial Development Authority (GNIDA), stated that the Authority is committed to ensuring 100% treatment and recycling of sewage generated in Greater Noida. “Following directions from CEO NG Ravi Kumar, STPs are being set up throughout Greater Noida and Greater Noida West. However, some builders have been neglecting their responsibility to treat sewage from their high-rise buildings, opting…

Latest StoriesResidential

Demolition Mishap: Debris Damages Homes in Ahmedabad

Representative image AHMEDABAD: A routine demolition took a dangerous turn on Saturday evening when debris from a redevelopment project fell onto a neighboring apartment complex, causing damage and raising significant concerns about the builder’s safety protocols. The incident happened next to the Guru Kripa Apartment on Premchandnagar Road in the Satellite area, where the demolition of the Shagun-1 and Shagun-2 apartments was in progress—located on either side of the affected structure. At around 7:45 PM, complications arose during the demolition. Heavy debris from the collapsing buildings struck flats No. 7 and 3 of the Guru Kripa Apartment. Residents acted swiftly,…

Housing FinanceLatest Stories

Skybridge Ventures Acquires 24.5% Stake in India Home Loan

MUMBAI: Skybridge Ventures LLP has announced its acquisition of a 24.5% stake in India Home Loan Ltd through an off-market transaction. This acquisition underscores Skybridge Ventures’ confidence in the future growth prospects of affordable housing and retail financing in India, as stated by the Mumbai-based firm. Skybridge acquired over 34.99 lakh shares, constituting the 24.5% stake in India Home Loan Ltd, although specifics regarding the deal size were not disclosed. Based on the closing share price of India Home Loan on Friday, the value of the acquired stake amounts to Rs 14.85 crore. “India Home Loan Ltd has developed a…

Latest StoriesResidential

Bengaluru Buyers Struggle with RWAs and Asset Handover

BENGALURU: Apartment owners across the city are facing uncertainty regarding the establishment and registration of their resident welfare associations (RWAs). Issues range from the handover of communal assets to ambiguous directives from authorities. Residents report being pressured to assume maintenance responsibilities while still paying fees to the authorities, creating confusion about their rights, ownership, and the legal framework governing their associations. For example, in the BDA Kaniminike Housing Project, the civic authority issued a letter to homebuyers, urging them to form an association and submit a maintenance payment of 1%. This letter stated that all maintenance services, such as security,…

Latest StoriesResidential

UP Government Approves ₹736 Crore for PMAY Urban Housing

LUCKNOW: On Friday, the state government announced its budget for housing projects under the Pradhan Mantri Awas Yojana (PMAY) for the 2025-26 financial year, allocating Rs 736 crore to provide housing for urban poor families across the state. This scheme aims to offer accommodation to underprivileged and economically weaker families, with joint efforts from both central and state governments. Once a family qualifies, grants and subsidies will be provided to assist them financially. Documentation, including geo-tagging and photographs of the home at various construction stages, will be uploaded to claim these benefits. Published On Sep 13, 2025 at 03:07 PM…

Latest StoriesResidential

Rudrapur: 790 Illegal Colonies’ Registry Ban Continues

UDHAM SINGH NAGAR: The Udham Singh Nagar district administration is maintaining its ban on property registrations in at least 790 illegally constructed colonies, which were identified earlier this year in May. A report detailing the violations and offering feasible solutions has been submitted to the housing secretary, with the next steps contingent on guidance from the state government. Pankaj Upadhyay, the secretary of the district development authority, stated, “The registration of plots in all identified illegal colonies has been halted. A comprehensive proposal addressing the issues faced and actions taken so far has been sent to the state government through…

InfrastructureLatest Stories

Jaipur: JMC-H Demolishes Two Buildings, Seals One in Walled City

JAIPUR: On Wednesday, the Jaipur Municipal Corporation Heritage (JMC-H) took action to demolish two unsafe buildings in the Walled City area, specifically at Maru Chowk and Nagauri Chowk along Johari Bazaar Road. “Initially, we pinpointed 14 buildings in the Kishanpole zone. Following a comprehensive assessment by technical experts, we identified seven structures requiring immediate demolition. We have commenced the demolition drive,” stated Dilip Bhambhani, the deputy commissioner of the zone. In addition to the demolitions, the JMC-H also sealed another dilapidated building. “Temporary accommodations have been arranged for the residents of these three structures,” Bhambhani added. Amid these activities, JMC-H…

InfrastructureLatest Stories

Delhi Metro Revives 2011 Plan: Dwarka-IFFCO Chowk Route Proposed

GURUGRAM: Almost ten years after its proposal, the Delhi Metro Rail Corporation (DMRC) is revisiting plans to extend metro connectivity from Dwarka to Gurgaon. The proposed extension aims to connect Yashobhoomi station in Dwarka Sector 25 on the Airport Express Line with IFFCO Chowk on the Delhi-Jaipur Expressway. If approved, this would enhance access for commuters traveling from Dwarka to significant employment hubs like Udyog Vihar, Cyber City, Hero Honda Chowk, Subhash Chowk, and various industrial and IT zones in Sector 44. This is particularly vital given the large volume of air passengers in Gurgaon. Currently, there is no efficient…

InfrastructureLatest Stories

Gandhi Colony in Panchkula Faces Demolition Before Navratras

PANCHKULA: Authorities are gearing up to clear encroachments in Gandhi Colony, a large slum on the way to Mata Mansa Devi Mandir, ahead of Navratras starting Sept 22. Despite a previous agreement from the Panchkula municipal corporation to regularize colonies with 1-marla plots, this illegally constructed settlement on HSVP and MC land is marked for demolition. A recent survey led by Additional Deputy Commissioner Nisha Yadav revealed nearly 1,000 structures occupying 4 acres of encroached land. The colony, adjacent to various housing societies, the police commissioner’s office, and the temple, has faced ongoing scrutiny. A notable police presence during the…