Category: Latest Stories

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Latest StoriesRegulatory

SC Orders Odisha to Follow December 2024 Building Law Ruling

BHUBANESWAR: A local resident has recently submitted a contempt petition to the Supreme Court, claiming that authorities have not complied with its December order mandating all states and Union Territories to issue circulars enforcing adherence to urban development laws. The Supreme Court had previously instructed that all buildings—new and old—must comply with approved plans and secure occupancy certificates (OC) to ensure essential services like water and electricity. However, over eight months later, Odisha has reportedly failed to issue such a circular. Taking the petition into consideration, the Supreme Court stated, “Although the petitioner has invoked the contempt jurisdiction of this…

Latest StoriesRegulatory

SC appoints ex-IB chief to probe Supertech insolvency case

Sure! Here’s a rewritten version of the content: The Supreme Court on Friday requested the insights of former Intelligence Bureau director and former National Human Rights Commission member Rajiv Jain regarding the insolvency proceedings of Supertech Realtors. This request follows a recent CBI report that accuses suspended director Ram Kishore Arora of misappropriating homebuyers’ funds in 21 projects. A Bench led by Justice Suryakant decided against staying the NCLAT’s August 13 ruling upholding the insolvency proceedings against Supertech Realtors. The Bench noted that every project associated with Arora is under investigation due to allegations of siphoning off significant amounts of…

Latest StoriesRegulatory

Bombay HC Warns of Chaos from Unchecked Illegal Constructions

MUMBAI: The Bombay High Court recently warned that without decisive measures to address illegal constructions, rapidly growing towns could face “a colossal failure” in meeting lawful town planning goals, leading to chaos and disaster for future generations. Justices Girish Kulkarni and Manjusha Deshpande emphasized that civic bodies should promote only the lawful and legitimate expansion of cities, instead of allowing “demons of large-scale unauthorized constructions”. The court, in an order dated August 21, stated, “Resources such as water and electricity, along with public amenities like parks and playgrounds, are intended for those living in authorized buildings.” It asserted that illegal…

Latest StoriesResidential

Stamp Duty Rebate Now for Ex-Servicemen and PwDs: UP CM

LUCKNOW: Chief Minister Yogi Adityanath announced on Thursday that the recently introduced stamp duty concessions for women will also extend to ex-servicemen and persons with disabilities (PwDs). This announcement came during a review meeting of the stamp and registration department. Women, PwDs, and ex-servicemen will receive a 1% reduction in stamp duty, capped at Rs 1 lakh. The relief is applicable on property valued up to Rs 1 crore, with the rebate cap increased from Rs 10,000 to Rs 1 lakh. The Chief Minister further stated that, based on a pilot project conducted in five districts, e-payment will be mandatory…

InfrastructureLatest Stories

Ranking States by Land Record Quality and Acquisition Ease for Roads

Representation image NEW DELHI: The government is set to rank states based on the quality of land records, the ease of land acquisition, and their active participation in highway development projects. Delays in land acquisition and poor land records are major obstacles to executing road projects. “We plan to assess states based on their land records’ quality, acquisition ease, and the support provided for land procurement. This will enable us to set project timelines based on each state’s fulfillment of these criteria,” said V Umashankar, the Secretary of Road Transport and Highways, during a workshop on effective project preparation organized…

Latest StoriesRegulatory

SC Urges Dinshaw Trust to Settle with Bastion on Malad Plots

The Supreme Court urged the F.E. Dinshaw Trust, led by Wadia Group Chairman Nusli N. Wadia, to consider negotiating with Bastion Constructions over the transfer of two plots totaling 99,709 square meters in Malad, Maharashtra. A Bench headed by Justice Aravind Kumar advised senior counsel NK Kaul, representing Wadia, to “sit down and try to settle it,” noting that “prima facie, all odds are against you.” The court requested that both parties report back on any developments during the next hearing scheduled for September 19. In response to a June 27 judgment from the Bombay High Court, which mandated Wadia…

Latest StoriesRegulatory

SC Rejects Appeal Against HYDRAA Eviction Orders

HYDERABAD: On Friday, the Supreme Court dismissed a civil appeal from city businessman P. Satya Narayana, challenging eviction orders from the Hyderabad Disaster Response and Asset Protection Agency (HYDRAA). This ruling allows the Jubilee Hills House Building Cooperative Society to reclaim a valuable 2,000-square-yard property in Jubilee Hills. After the Telangana high court ruled in favor of HYDRAA and the cooperative society on August 21, affirming the eviction orders, Satya Narayana took his case to the Supreme Court. HYDRAA had issued notices to Satya Narayana, instructing him to remove a tin shed and nursery garden on the disputed land on…

IndustryLatest Stories

₹10 Lakh Crore Investment in Urban Infrastructure Ahead: Housing Sec.

NEW DELHI: Srinivas Katikithala, Secretary of the Ministry of Housing & Urban Affairs, announced on Friday that India’s urban sector is poised to attract investments of around ₹10 lakh crore in the coming years to develop infrastructure. He emphasized that housing will play a crucial part in this investment and urged the infrastructure industry to engage actively in this initiative. Katikithala spoke at NAREDCO’s National Convention held in Delhi, highlighting that nearly ₹30 lakh crore has already been invested in urban infrastructure over the past decade, contributing to India’s rapid growth trajectory. He also revealed that essential reforms will be…

IndustryLatest Stories

Bidders Urge Mysuru Development Body to Finalize High-Value Auctions

MYSURU: In a move that may quell concerns from developers, activists, and politicians regarding a potential scam in the online auction of Mysuru Development Authority (MDA) sites, approximately 118 bidders have approached the authority to finalize paperwork for auctioned sites since the start of the month. The top bidder for a 745 sqft plot in the II phase of Vijayanagar IV stage, West Mysuru, has placed a staggering bid of Rs 2 crores, while another bidder has quoted Rs 9 crores for a larger 4,133 sqft plot. Both have visited the MDA office to complete formalities. Buyers will need to…

IndustryLatest Stories

Bidders Want Mysuru Body to Finalize High-Value Site Auctions

MYSURU: In a surprising turn of events that may quell concerns among developers, activists, and politicians regarding potential fraud in the online auction of Mysuru Development Authority (MDA) sites, approximately 118 bidders have approached the authority to finalize the purchase of auctioned sites from earlier this month. The highest bid recorded was for a 745 sqft plot in the II phase of Vijayanagar IV stage, West Mysuru, which fetched an astonishing Rs 2 crores. Another bidder offered Rs 9 crores for a 4,133 sqft plot. Both bidders visited the MDA office to finalize the necessary documentation. Additionally, buyers must account…