Category: Latest Stories

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Latest StoriesRegulatory

Lucknow: All Ansal Group Cases Moved to Crime Branch

LUCKNOW: In a significant move aimed at accelerating justice for numerous defrauded homebuyers, the Lucknow Police have transferred all cases associated with Ansal Properties & Infrastructure Ltd (APIL) and its promoters to the crime branch for a thorough and impartial investigation. Officials indicated that this measure intends to systematically investigate the extensive network of real estate frauds that has persisted for almost two decades. According to data from the Commissionerate, 293 FIRs have been filed against Ansals. Out of these, 244 cases have already been handed over to the Crime Branch, with the remaining 49 to be processed shortly. The…

IndustryLatest Stories

Lucknow plans 300-acre logistics park, 15,000 Varun Vihar plots

LUCKNOW: The Lucknow Development Authority (LDA) is set to develop a 300-acre logistics park as part of the upcoming Varun Vihar scheme along the Agra expressway. This initiative will also include over 15,000 residential, commercial, and group housing plots, making it one of the state’s largest housing and infrastructure projects. During a site inspection on Wednesday, LDA Vice-Chairman Prathamesh Kumar urged officials to expedite land acquisition. He engaged with engineers, project officials, and farmers at the site office in Dona village. Kumar stated, “Varun Vihar is designed to provide homes for countless families while also generating new employment and investment…

Latest StoriesResidential

Apartment Owners Demand RWA GST Rollback

BENGALURU: The Goods and Services Tax (GST) Council is set to review certain GST slabs starting Wednesday. In response, the Bangalore Apartments’ Federation (BAF) has launched a petition aiming to eliminate the 18% GST on apartment maintenance fees. According to federation members, the notification issued in 2019 has placed an unfair financial strain on Residents’ Welfare Associations (RWAs) and apartment owners alike. The petition, hosted on change.org by BAF, claims, “The notification mandates that GST is applicable on the entire monthly maintenance fees collected by RWAs if charges exceed Rs 7,500 per month per member or unit.” It emphasizes how…

Latest StoriesRera

Telangana RERA Fines Vasavi Realtors for Delay in Flat Delivery

HYDERABAD: The Telangana Real Estate Regulatory Authority (TG RERA) has mandated Vasavi Realtors LLP to pay 10.8% annual interest to buyers of the Vasavi Lake City project at Hafeezpet due to delays in possession delivery. A group of 23 buyers, including Venkata Satya Naga Sudheer Kurapati from Miyapur, lodged a complaint citing significant delays and poor communication from the developer regarding the west wing of the project. The original handover was set for August 2023 but saw extensions to February 2024 and then February 2025, none of which were fulfilled. The buyers reported having paid a total of 1 crore,…

IndustryLatest Stories

GST Council Approves Two-Tier Tax Structure Starting September 22

NEW DELHI: The GST Council has approved reductions in tax rates on commonly used items such as hair oil, corn flakes, televisions, and health and life insurance policies, marking a significant revamp of the Goods and Services Tax system. The new GST rates, effective from September 22, will reduce the current four tax slabs to just two: 5% and 18%. This change comes as India prepares for the start of Navaratri. This initiative aims to enhance domestic spending and mitigate the economic impact of US tariffs by significantly lowering tax rates on most personal use items. Following a lengthy GST…

IndustryLatest Stories

Greater Noida Authority Approves Co-Developers for 3 Stalled Projects

NOIDA: The Greater Noida Authority has granted preliminary approval to appoint co-developers for three housing projects that have been stalled for over ten years. During their meeting on July 28, the Greater Noida Authority board endorsed proposals from Sobha Ltd, Opaa Realty, and Swarnim Buildhome LLP to take over and complete the unfinished housing projects. Officials noted that Atlaspur Construction and Developers collaborated with Sobha Ltd for its Sector 1 project, while Parsvnath Developers suggested Opaa Realty for its Pi Sector project. Additionally, Aims Golf Town Developers requested Swarnim Buildhome LLP for its Sector 4 township. The proposals underwent a…

InfrastructureLatest Stories

Issues Persist in Noida’s ‘New Sectors’ After a Decade

NOIDA: Nearly ten years after many residents of the 7x and 100x sectors in Noida received possession of their apartments, they moved to this satellite town to avoid hefty EMIs on home loans, expecting gradual development. Unfortunately, fundamental infrastructure improvements have yet to materialize. Sectors like 74 to 79 and 115 to 121 continue to grapple with inadequate transportation, poorly maintained roads, a scarcity of petrol stations, designated commercial areas, and children’s parks. Additionally, only a limited number of ATMs and banks cater to the needs of the approximately 300,000 residents. “While conditions have gradually improved with the introduction of…

CommercialLatest Stories

UrbanVault Signs 80K Sq Ft Lease at Manyata Tech Park, Bengaluru

NEW DELHI: UrbanVault, a workspace solution provider, has leased an 80,000 sq ft space at Manyata Tech Park in Bengaluru from Embassy Group. The center accommodates over 2,000 seats, with prices starting at Rs 10,000 per seat per month. Notable clients secured for the center include Cloud Odyssey, Pioneer, and SRM Tech. Amal Mishra, CEO of UrbanVault, stated, “We are dedicated to aggressive investments for our national expansion, particularly targeting high-potential micro-markets throughout India.” This expansion increases the company’s portfolio to over 2.58 million sq ft, managing over 42,000 seats across Bengaluru, Pune, Gurugram, and other key cities. The company…

CommercialLatest Stories

Applied Materials leases 8.06 lakh sq ft office for ₹855 crore

BENGALURU: Applied Materials, a semiconductor equipment manufacturer, has secured a lease for 8.06 lakh sq ft of office space at ITPB in Whitefield, amounting to Rs 855 crore over a decade. Karnataka’s IT/BT Minister Priyank Kharge shared this update on ‘X’, noting that this facility will accommodate the company’s expanding operations in the city and support the establishment of their Innovation Center for Semiconductor Manufacturing. This is set to be a pioneering R&D fab with an investment of Rs 4,851 crore, creating approximately 1,500 jobs. “From our visit to their US headquarters in 2023 to ongoing discussions through 2024, along…

IndustryLatest Stories

Kartik Aaryan Invests in 2,000 Sq Ft Plot in Alibaug

Bollywood actor Kartik Aaryan has made his first investment in land by acquiring a 2,000 sq. ft. plot in a coastal development project in Alibaug, located near Mumbai, from The House of Abhinandan Lodha (HoABL). Launched in April 2023, the project has attracted contributions from corporate leaders, business figures, and celebrities. Aaryan is now among the prominent buyers in HoABL initiatives across Ayodhya, Vrindavan, and Goa, as stated by the company. “Alibaug has become a highly sought-after investment spot close to Mumbai, and I intend to build my own home there. This is my first land investment,” Kartik Aaryan remarked.…