Category: Latest Stories

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Latest StoriesRegulatory

CCI Dismisses Emaar India’s Marbella Villa Complaint

Certainly! Here’s a rewritten version of the content you provided: — NEW DELHI: The Competition Commission of India (CCI) has dismissed a complaint against Emaar India Ltd concerning alleged anti-competitive practices related to its “Marbella” villa project in Gurugram. The CCI stated, “No prima facie case of violation of Sections 3 and 4 of the Act has been established against the opposing parties in this matter.” Sections 3 and 4 pertain to agreements that restrict competition and abuse of a dominant position, respectively. The complaint originated from claims made by an informant who alleged that Emaar India Ltd, its subsidiary…

Latest StoriesResidential

Delhi: 152 DDA Flats Sold Within an Hour in ‘Apna Ghar’ Scheme

Representative image NEW DELHI: All 152 flats released by the Delhi Development Authority’s (DDA) ‘Apna Ghar Awas Yojana’ were booked within an hour of their launch on Friday, projected to generate a revenue of ₹100 crores, according to officials. The DDA offered 152 additional flats on a first-come-first-served basis, which includes 76 middle-income group (MIG) flats at Lok Nayak Puram, block D, and 76 economically weaker section (EWS) flats in Narela’s sector A1-A4, block G. “The scheme elicited a remarkable response from the public, with all additional flats booked within just one hour. To meet the ongoing public demand for…

IndustryLatest Stories

Shriram Properties to Develop 6.5 Acres in North Bengaluru

NEW DELHI: Shriram Properties (SPL) has entered into a joint development agreement for a 6.5-acre site in North Bengaluru. The company plans to launch a residential project that will encompass approximately 0.6 million sq ft, with an anticipated gross development value (GDV) of ₹500 crore. SPL reported a sales volume of 0.8 million sq ft in Q1 FY26, reflecting a 17% year-on-year increase, equating to ₹441 crore. Additionally, collections reached ₹388 crore, showing a 5% rise compared to the previous year. On the financial side, total revenue stood at ₹262 crore, maintaining a healthy gross margin of 34% and generating…

Latest StoriesResidential

Malaika Arora Sells Mumbai Apartment for ₹5.30 Crore

File Photo NEW DELHI: Malaika Arora has sold her apartment in Runwal Elegante, Lokhandwala Complex, Andheri West, Mumbai for ₹5.30 crore. The transaction incurred a stamp duty of ₹31.08 lakh and registration fees of ₹30,000. She purchased the property for ₹3.26 crore in March 2018, resulting in a profit of approximately ₹2.04 crore, equating to a 62% increase, based on documents from the Inspector General of Registration (IGR) reviewed by Square Yards. The apartment boasts a carpet area of 1,369 sq ft (127.18 sq meters) and a built-up area of 1,643 sq ft (152.68 sq meters), and includes one car…

InfrastructureLatest Stories

Maharashtra Approves ₹6,500 Crore for Hi-Tech ‘New Nagpur’

NAGPUR: On Wednesday, the state cabinet approved the ambitious ₹6,500-crore ‘New Nagpur’ initiative, designed to create a high-tech city and business hub in Hingna taluka. This project aims to position Nagpur alongside India’s leading tech cities, such as Hyderabad and Bengaluru, featuring an International Business and Finance Centre (IBFC) intended to foster a modern ecosystem for industries, startups, and corporate offices. The Nagpur Metropolitan Region Development Authority (NMRDA) is responsible for implementing the project and has engaged NBCC (India) Limited as the project consultant, leveraging their extensive experience in large-scale urban developments. A senior official stated that work will commence…

Latest StoriesResidential

Bengaluru: 85% Flat Owners Approved in E-Khata Drive, 4K Appeals

BENGALURU: Out of 140,000 e-khata applications submitted by flat owners in the city, approximately 120,000 were approved without objections, as their tax records and sale deeds were verified as accurate, based on data from the Greater Bengaluru Authority (GBA) obtained by TOI. However, around 20,000 flats were identified with discrepancies, yet only 4,000 owners have lodged appeals to date. Authorities stress the importance of not generalizing individual cases, highlighting that 85% of flat owners have adhered to the regulations. A senior revenue official remarked, “Some residents have acknowledged their mistakes and are ready to pay the adjusted amounts; we are…

IndustryLatest Stories

Valor Estate Might Seek NCLT Review of Lavasa Offer

MUMBAI: Valor Estate is poised to submit a petition to the Mumbai National Company Law Tribunal (NCLT), seeking permission to revise its resolution plan for Lavasa Corp. This move comes after the tribunal recently allowed the Welspun-Ashdan Developers consortium to amend its payment schedule. Valor’s petition follows a week of rapid developments wherein the Welspun-Ashdan consortium emerged as the frontrunner for the takeover due to its modified payment timeline. The committee of creditors voted on three resolution plans, including one from the Yogayatan Group, on Wednesday. During a hearing regarding another application submitted by Anuj Goyal, Valor’s legal team raised…

Latest StoriesResidential

Bengaluru: Taxed Yet Neglected in Abhivrudhi Garden Layout

Representative AI image BENGALURU: Abhivrudhi, meaning development, is a garden layout situated in a neglected area between Bengaluru City East Corporation and Kithaganur Gram Panchayat. Despite paying property taxes to the Bruhat Bengaluru Mahanagara Palike (BBMP) for over a decade, residents continue to lack basic amenities, primarily due to the layout’s borderline position between the two jurisdictions. Residents claim that BBMP has avoided developmental responsibilities, citing jurisdiction issues while still collecting property tax from over 70 properties. Frustrated, they approached the Bengaluru East City Corporation at KR Puram to present a memorandum requesting essential services. “We have endured years of…

IndustryLatest Stories

Karnataka Cabinet Approves 1% Fire Cess on New High-Rises

The Karnataka state cabinet recently decided to impose a 1% fire cess on new multi-storey buildings in Bengaluru and other parts of the state. Builders believe this move will have a minimal effect on their investments, yet may lead to increased property prices. The cabinet’s decision amends the Fire Force Act of 1964 to include this new levy alongside property taxes for new high-rise structures. The government stated that the funds generated will enhance the operational capacity of the fire services. However, real estate developers in Bengaluru express concerns that this additional tax will exacerbate existing financial burdens stemming from…

IndustryLatest Stories

Noida Authority to Publish Property Defaulters’ Names Online

NOIDA: In an effort to enhance transparency and recover long-overdue dues, the Noida Authority has instructed officials to post defaulter lists on its official website. This includes defaulters from industrial, group housing, commercial, and institutional sectors, who will also receive notices. Noida’s CEO, Lokesh M, announced this initiative during a review meeting on Wednesday with senior officials and department heads. Officials noted that a similar effort took place in June 2023, when the Authority published information about 115 group housing projects—most of which were defaulters—but did not update the list afterward. To prevent this from happening again, strict orders have…