Category: Latest Stories

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IndustryLatest Stories

Hubballi-Dharwad body safeguards non-NA site owners from harassment

HUBBALLI: The Hubballi-Dharwad Urban Development Authority (Huda) has launched a survey to identify non-NA (Akram-Sakram) properties that were developed without proper approval. This initiative is intended to protect the ownership rights of residents who have lived on such plots for 20 to 30 years. Huda officials have discovered that some heirs of original landowners are now demanding extra payments—ranging from Rs 50,000 to Rs 1 lakh or more—from residents who bought non-NA plots decades ago. Many residents acquired their properties through bond agreements rather than formal registration, putting them at risk of exploitation. Certain heirs are now claiming ownership of…

InfrastructureLatest Stories

Mohali RWAs Seek Completion of Promised Road in Master Plan

Representative Image MOHALI: Residents from Sectors 123, 124, and 125 have united to push for the long-delayed 200ft Master Plan Road from Dara Studio to Khanpur. Protesting under the 200 Ft Master Plan Road Sangharsh Committee on Sunday, they threatened to escalate their efforts if the government does not initiate construction. Chanting ‘No Road, No Vote’, the Residents’ Welfare Associations (RWAs) voiced their frustration, stating that thousands of families feel “stranded and cheated” after investing their life savings in homes and commercial properties, with the expectation that a crucial arterial road would be built as outlined in the GMADA master…

InfrastructureLatest Stories

Chandigarh Plans 17 New Sites for Construction Waste Disposal

CHANDIGARH: As construction and demolition (C&D) waste continues to rise in the city, the Chandigarh Municipal Corporation (MC) plans to create 17 new designated sites for waste disposal across various wards. Currently, the MC oversees around 20 designated sites, but officials assert that these are insufficient due to escalating construction activities, necessitating more collection points. The MC’s Building and Road (B&R) wing is actively identifying feasible locations for the new sites. Once selected, the proposals will be submitted to the urban planning department for necessary approvals, particularly related to land allocation. A recent letter to MC executive engineering officers states:…

IndustryLatest Stories

Gera Developments to Invest ₹16,000 Crore in Child and Wellness Projects

NEW DELHI: Gera Developments, based in Pune, is gearing up for a significant expansion with managing director Rohit Gera announcing an investment of approximately ₹16,000 crore in forthcoming residential projects over the next few years. This substantial investment will be evenly distributed between the company’s child-centric and recently introduced wellness-centric segments. In an exclusive conversation with Ankit Sharma, Gera shared insights into the company’s outlook, investment plans, product innovations, and financial strategies. He elaborated on the rationale behind preferring outright land purchases over joint ventures, detailed the phased project pipeline, and discussed how the wellness-centric model will enhance the existing…

InfrastructureLatest Stories

TCP to Notify on Plans Over 20,000 sq meters: Goa-SEIAA

Representative Image PANAJI: The Goa State Environment Impact Assessment Authority (Goa-SEIAA) has mandated that the Town and Country Planning (TCP) department and the planning and development authorities of North and South Goa must notify the Goa-SEIAA after approving any building plan with a built-up area exceeding 20,000 sqm. This measure aims to facilitate the verification of necessary environmental clearances, as discussed in a recent meeting. The Goa-SEIAA has also stipulated that it must inform the TCP department and the relevant PDA upon the approval of any project exceeding 20,000 sqm in built-up area. This issue came to light during an…

IndustryLatest Stories

South Goa Collector Enforces Tenant Verification Rules

Representative AI image MARGAO: The district magistrate of South Goa, Egna Cleetus, has issued an order mandating that all landlords, hotels, and accommodation providers verify the identities of their tenants and report these details to local police. This order, which takes effect on November 5, is in accordance with section 163 of the Bharatiya Nagarik Suraksha Sanhita, 2023. It requires verification via government-issued IDs such as Aadhaar cards, passports, and driving licenses, and applies to all types of accommodation including residential properties, hotels, guesthouses, beach shacks, and paying guest facilities throughout the South Goa district. In addition, nationalized banks are…

Housing FinanceLatest Stories

Unity SFB Tops Aviom India Housing Race with ₹775 Crore Bid

MUMBAI: Unity Small Finance Bank has taken the lead in the competitive bidding for Aviom India Housing Finance, which is backed by impact investors, tendering an upfront payment of ₹775 crore, according to multiple sources familiar with the situation. Other competitors include Authum Investment and Infrastructure, Northern Arc, DMI Housing, Kifs Housing Finance, and Omkara Asset Reconstruction Company. Authum has proposed ₹750 crore, consisting of ₹450 crore upfront with the remainder staggered over two years. Northern Arc submitted an offer of ₹625 crore, including ₹325 crore upfront and the rest payable in two years. DMI Housing’s offer includes an upfront…

IndustryLatest Stories

Navi Mumbai urges residents to audit buildings over 30 years old

NAVI MUMBAI: A recent survey within the Navi Mumbai Municipal Corporation (NMMC) identified 513 buildings as dangerous according to various provisions of the Maharashtra Municipal Corporation Act. As per Section 265(A) of the Act, buildings that have been in use for over 30 years must undergo a structural audit conducted by a civil or structural engineer registered with the NMMC. This audit timeline begins from the date the building received its occupancy certificate, whether full or partial. The civic body urges residents to complete the structural audits promptly. Residents need to submit a certificate confirming that all recommended repairs have…

Latest StoriesResidential

Maharashtra: Just 25% of Slum Rehab Goal Achieved in 3 Years

Representative AI image MUMBAI: With less than two months remaining, the state government has achieved only 25% of its goal to construct 1.5 lakh slum rehabilitation tenements for the period 2022-2025. As of September, 37,560 tenements have been completed and occupied, according to officials from the Slum Rehabilitation Authority (SRA). The sluggish construction pace jeopardizes the aim of building over 5 lakh houses by 2030. In 2022, the government identified 517 stalled slum rehabilitation projects. Of these, 45 projects received backing from financial institutions, and new builders were appointed for 21 of them. Decisions for the remaining projects are still…

IndustryLatest Stories

Trident Realty aims for ₹1,200 crore from Panchkula plots

Representative AI image NEW DELHI: Trident Realty aims to generate ₹1,200 crore from the development of 199 residential plots within its integrated township, Trident Hills, located in Panchkula. S K Narvar, the group chairman, stated, “The strong response to earlier phases of Trident Hills underscores Panchkula’s status as one of North India’s most desirable real estate markets.” Spanning approximately 200 acres (80.94 hectares), the newly launched phase, named Central Vista, is situated in the heart of the township. Parvinder Singh, CEO of the company, commented, “Trident Hills has developed into a vibrant community, with over 500 possessions already handed over.”…