Category: Latest Stories

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Latest StoriesRera

MahaRERA Boosts Efficiency with Hybrid Mode Hearings

NAGPUR: The Maharashtra Real Estate Regulatory Authority (MahaRERA) is now facilitating both physical and digital hearings for complaints, adhering to a directive from the Bombay High Court. This initiative enhances the convenience and transparency of housing dispute resolutions. Attendance has notably risen, as complainants and relevant parties across Maharashtra can opt for in-person or remote participation via secure video conferencing platforms. MahaRERA, the governing body enforcing the Real Estate (Regulation and Development) Act in the state, has adopted a hybrid model for hearings. This allows parties to choose between physical presence and virtual attendance, as per the Bombay High Court’s…

Latest StoriesRera

Developer Must Address Andheri Building Defects: MahaRERA

Here’s a rewritten version of the content you provided: MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has ordered a developer in Andheri East to correct all structural defects in a building, particularly in the communal areas, following grievances from the building’s co-operative housing society. The society, represented by lawyer Anil D’Souza, reported several issues, including substandard construction, leaks in common areas and terrace water tanks, as well as fungal damage to doors in Vasant Oasis Jolan, building number 14. Homebuyers purchased their flats between 2011 and 2020, and after the project was handed over to the society in early…

Latest StoriesRegulatory

FIR Filed Against Logix Buildestate & Ace Group Over Assault Claims

NOIDA: Authorities filed a First Information Report (FIR) against two developers for alleged intimidation and violence after a farmer accused individuals associated with them of forcibly taking over his agricultural land and attacking family members during a confrontation late at night in the Rabupura area along the Yamuna Expressway. Pramod, a resident of Raunija village, stated that the 0.9-hectare land parcel, recorded under kasra number 63 in Shahpur, has been farmed by his family “for generations.” This land was designated for an Ace Estate project near the upcoming Noida International Airport; however, its acquisition by the Yamuna Expressway Industrial Development…

IndustryLatest Stories

Saira Banu: Dispute settled, police close case on builder

MUMBAI: The Economic Offences Wing (EOW) of the police has closed a case of cheating and forgery filed by actress Saira Banu Khan against builder Sameer Bhojwani and others. The complainant indicated that the matter arose from a “misunderstanding” and has since been amicably resolved. The general cheating branch of the EOW submitted a C-summary closure report to a magistrate last week, which was accepted. A C-summary closure signifies that a criminal case was initiated due to a mistake of facts, or that the alleged offense is of a civil nature, rendering the police report neither entirely true nor false.…

Latest StoriesRera

Karnataka RERA Orders Registration of Delayed Bengaluru Layouts

BENGALURU: In a significant development for homebuyers who have awaited possession of plots for nearly a decade, the Karnataka Real Estate Regulatory Authority (K-Rera) has ruled that the Bangalore Development Authority (BDA) must be classified as a “promoter” under the Real Estate (Regulation and Development) Act, 2016. K-Rera has instructed the BDA to register the long-overdue Nadaprabhu Kempegowda Layout (NPKL) within two weeks and to justify why penalty proceedings should not be initiated for selling sites without the necessary Rera registration. The ruling, issued on November 7 by a two-member bench, followed multiple complaints from allottees who claimed that the…

CommercialLatest Stories

WeWork India Q2 FY26 Profit Drops to ₹6.4 Crore

NEW DELHI: WeWork India Management Ltd has reported a significant decrease in consolidated net profit to Rs 6.4 crore for the quarter ending in September, mainly due to a high base effect. In the same quarter last year, net profit was Rs 203.74 crore, boosted by a deferred tax credit. Total income climbed to Rs 585.54 crore for the July-September period this fiscal, up from Rs 499.47 crore during the same timeframe last year, as per a regulatory filing. Since its inception in 2017, WeWork India has provided flexible workspace solutions to corporations and operates in eight major cities with…

InfrastructureLatest Stories

Bhubaneswar to Include 72 Villages in Civic Body Expansion

Representative AI image BHUBANESWAR: The Bhubaneswar Municipal Corporation (BMC) is planning to incorporate 72 revenue villages into its jurisdiction, following proposals from the villages expressing their consent for development. Sources indicate that with these additions, the BMC aims to expand its current administrative zones from three to six. Villages under consideration for inclusion are Dasapur, Gothapatna, Andharua, and Bhuasuni, among others. “We have received proposals from the villages. A communication will be sent to the housing and urban development department. Once approved, the process to add these villages to BMC’s area will commence,” stated BMC Commissioner Chanchal Rana. He mentioned…

CommercialLatest Stories

Knowledge Realty Trust’s NOI Rises 20% in H1 FY26

NEW DELHI: Knowledge Realty Trust has reported a 20% year-on-year increase in net operating income (NOI), reaching ₹19,544 million for H1 FY26, with NOI margins at 89%. In Q2 FY26, the company recorded a revenue of ₹11,238 million and an NOI of ₹9,881 million. A distribution of ₹6,900 million, or ₹1.56 per unit, was also announced. The firm successfully raised ₹16,000 million through AAA-rated listed non-convertible debentures (NCDs) with a 7.2% coupon rate. The company noted, “Debt refinancing, rate reductions, and low-cost NCDs have contributed to a reduced interest cost of 7.4% per annum, achieving annual savings of 120 basis…

InfrastructureLatest Stories

11 Illegal Buildings in Bengaluru Scheduled for Demolition

BENGALURU: Following numerous alerts regarding extensive building violations, the Bengaluru East City Corporation (BECC) has initiated the demolition of 11 illegal structures that deviate significantly from their approved plans. As per the additional commissioner (development), a building in Whitefield with several unauthorized floors is presently being demolished. “The demolition is progressing slowly as it is being conducted manually,” the official commented. Recently, the East Corporation carried out a survey of over 600 under-construction buildings, issuing notices under the Karnataka Town and Country Planning Act, 1961. While many cases are currently in litigation or postponed due to court stay orders, the…

IndustryLatest Stories

Saya Group Eliminates ₹1,500 Crore Debt

NEW DELHI: Saya Group has successfully eliminated around ₹1,500 crore in debt from various financial institutions and investors over the last five years. The debt reduction includes term loans, non-convertible debentures (NCDs), and guaranteed emergency credit line (GECL) facilities from prominent financial institutions such as IIFL Finance, Yes Bank, and 360 One. Vikas Bhasin, the company’s managing director, stated, “The reduction of ₹1,500 crore in debt over these years reflects our solid financial health, effective project management, and strong commitment to our stakeholders. With a healthy balance sheet and exciting new projects on the horizon, we are poised for our…