Category: Latest Stories

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IndustryLatest Stories

Deadly Dreams: The Vasai-Virar Real Estate Scam

MUMBAI: A severe housing scam is currently unraveling in the Vasai-Virar suburb, jeopardizing homebuyers amid collusion with civic officials. Unchecked construction mafias are building unauthorized structures using forged Commencement and Occupation Certificates. These illegal properties are subsequently sold to unsuspecting buyers, offering the false promise of legal approval—an alarming fraud with dire repercussions. Death Trap A senior officer from the Mira Bhayandar Vasai Virar (MBVV) Police confirmed that the Ramabai Apartment, which tragically collapsed in Virar, claimed 17 lives and was constructed by a fraudulent builder using fake certificates. “When a builder resorts to forging Commencement or Occupation Certificates, they…

Latest StoriesResidential

Property Prices Up in 45 of 50 Cities in Q1 FY26: NHB

NEW DELHI: According to the latest data from the National Housing Bank (NHB), 45 out of 50 cities experienced a rise in property prices during the first quarter of 2025-26. “Among the 50 cities monitored, five reported a decline in property prices year-on-year. Howrah saw the largest drop at 6.1%, followed by Kochi at 5.5% and Thiruvananthapuram at 4.8%,” stated the NHB RESIDEX residential housing price index released on Thursday. The 50-city Housing Price Index (HPI), which is based on property valuation from banks and housing finance firms, revealed an annual increase of 5.7% during this quarter, down from 6.6%…

CommercialLatest Stories

CapitaLand to sell Chennai unit leased to Apple vendor

Representative image created by AI NEW DELHI: CapitaLand, based in Singapore, is in the process of divesting an industrial unit in Chennai, currently leased to Pegatron, a major Apple supplier, as confirmed by sources familiar with the situation. The 750,000 sq ft asset is anticipated to secure around ₹600 crore, with Brookfield, Hines, and Hillhouse Capital among the bidders selected. CapitaLand is currently seeking board approval for a new round of bidding. “The property is on a long-term lease and is highly valuable due to the manufacturing of Apple products there. The CapitaLand board is reviewing the bidding process following…

Latest StoriesResidential

Bhubaneswar Residents Blame Builder for Safety Neglect and Occupation

BHUBANESWAR: Residents of a significant real estate project in Rasulgarh have made serious allegations against their builder, claiming unauthorized occupation of common areas for commercial use. The residents’ association has filed a grievance with the Chief Minister, the Housing and Urban Development Minister, and the Odisha Real Estate Regulatory Authority (ORERA), urging immediate intervention regarding ongoing issues. The grievance states, “The builder is illegally using our parking area for unauthorized construction and operating a commercial office in a purely residential complex, creating significant difficulties for the 52 flat owners who struggle to park their vehicles.” Additionally, concerns about safety were…

CommercialLatest Stories

Greater Noida Plans to Double FAR to Draw Companies

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has proposed changes to its Building Regulations from 2010, specifically aiming to revise the floor area ratio (FAR) for plots designated for IT, IT-enabled services (ITES), and Biotech Parks. The proposal to increase the FAR from 2 to 4 has been submitted to the state government for approval. According to Additional CEO Prerna Singh, both current allottees and prospective companies have expressed the need for a higher FAR. Representatives from IT and ITES sectors argue that the existing FAR of 2 does not suffice, given the area’s rapid development into a hub…

Latest StoriesResidential

Residents Urge CM & BMC to Fast-Track 18-Story Highrise in Mumbai

MUMBAI: On Thursday, 34 residents vacated their flats in Tardeo’s Willingdon View housing society, following a Bombay High Court deadline. Local MLA Mangal Prabhat Lodha, along with other residents, met with Chief Minister Devendra Fadnavis and BMC Commissioner Bhushan Gagrani, urging the swift issuance of the Occupation Certificate (OC) for the upper 18 floors. The High Court had recently declined to extend the August 27 deadline for occupants to leave the upper floors of the 34-story building, which currently lacks OC. According to Assistant Municipal Commissioner of D Ward, Manish Walunju, each floor consists of two flats, some of which…

Latest StoriesRera

RERA Warns Against Unregistered Real Estate Agents in AP

AMARAVATI: The Andhra Pradesh Real Estate Regulatory Authority (APRERA) issued a warning on Thursday against engaging with unregistered real estate agents, instructing them to register within 30 days. APRERA emphasized that operating without registration constitutes a significant violation of the Real Estate (Regulation and Development) Act, 2016. “We have alerted the public regarding dealings with unregistered agents and mandated these agents to secure their registration within the stipulated 30 days,” stated APRERA Chairperson S. Suresh Kumar in an official announcement. Kumar noted that trust is vital in the real estate sector, where agents play an essential role in influencing homebuyers’…

InfrastructureLatest Stories

Ludhiana Body Dismantles Illegal Colony, Warns Builders

LUDHIANA: On Thursday, the regulatory body of the Greater Ludhiana Area Development Authority (Glada) dismantled an unauthorized colony in Bhadla village, including its roads and illegal structures. Glada’s chief administrator, Sandeep Kumar, announced that a special initiative was launched to take action against those exploiting residents by offering lower-priced plots in unauthorized areas that do not comply with government regulations. The chief administrator urged the public to refrain from purchasing properties, plots, or buildings in unauthorized colonies, emphasizing that Glada will not provide essential services such as water supply, sewage disposal, or electricity connections. He advised potential buyers to consult…

IndustryLatest Stories

Gorakhpur: ₹5,800 Crore Investment, Record Land Allotment to GIDA

Representative image created by AI LUCKNOW | GORAKHPUR: Recent incentive-driven policies, combined with enhanced business facilitation and connectivity, have attracted notable national and multinational companies to invest in Gorakhpur, previously overlooked by many investors, stated officials from the Gorakhpur Industrial Development Authority (GIDA) on Wednesday. According to Anuj Malik, CEO of GIDA, “The authority has allocated a record 182 acres of land for 54 new units, paving the way for a capital investment of Rs 5,800 crore and the creation of 8,500 jobs.” He further noted that, “Over the past five years, GIDA has received proposals amounting to Rs 9,445…

Latest StoriesResidential

Mundhwa Residents Challenge Slum Rehab Plan in Pune

PUNE: Residents of Sarvodaya Cooperative Housing Society in Mundhwa have raised concerns about their unjust classification as a slum in the 2017 development plan (DP). They argue this mislabeling undermines their housing status and threatens their homes. The residents assert that their society’s land is inaccurately depicted as part of a nearby slum, leading to many being incorrectly identified as slum dwellers. This classification would subject 2 acres and 25 guntha of their land to the Slum Rehabilitation Authority (SRA). A complaint has been lodged with the SRA, and officials have stated that they will investigate the issue if necessary.…