Category: Latest Stories

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Latest StoriesRegulatory

ED Arrests Ex-Director of Sahiti Infratech in ₹800 Crore Case

HYDERABAD: The Enforcement Directorate’s Hyderabad unit has arrested Sandu Purnachandra Rao, the former director of Sahiti Infratec Ventures India Pvt Ltd (SIVIPL), under the Prevention of Money Laundering Act (PMLA) for allegedly defrauding homebuyers of crores of rupees. Rao was taken into custody on Monday and presented before a special PMLA court in Nampally on Tuesday, where he was remanded to 15 days of judicial custody. Sahiti Infra is charged with defrauding homebuyers of approximately ₹360 crore. The ED initiated its investigation following an FIR filed by Telangana Police against SIVIPL, its managing director B. Lakshminarayan, and others, highlighting a…

Latest StoriesRegulatory

SC Tightens Rules for Sand-Mining Leases

NEW DELHI: The Supreme Court has delivered a pivotal ruling linking the amount of sand mining to a river’s capacity for replenishment. This judgment aims to curb the degradation of riverbeds, making it more complex to obtain leases for extracting essential construction materials from riverbanks. A bench comprising Justices P S Narasimha and A S Chandurkar advanced the regulatory framework for sand mining, stating that extraction activities must align with the river’s ability to replenish itself—similar to the regulation of timber felling in forests based on their regeneration capacity. The bench remarked, “Just as forest conservation necessitates evaluating tree growth…

Latest StoriesResidential

West Bengal CM: 2.26 Lakh Pattas Issued for Homes Statewide

BARDHAMAN: West Bengal Chief Minister Mamata Banerjee, reaffirming her dedication to social welfare, announced on Tuesday that since taking office in 2011, her administration has distributed 2.26 lakh pattas (land deeds) to empower individuals with the right to their homes. Under the Trinamool Congress (TMC) leadership, the state has successfully provided water supply to 76% of rural areas and 78% of urban regions, aiming to cover the remaining areas soon. While addressing a public function regarding land deed distribution in Purba Bardhaman, the CM remarked, “We believe in fulfilling our promises.” “Since 2011, we’ve issued 2.26 lakh home pattas, 1.80…

CommercialLatest Stories

TCS Signs ₹2,130 Crore Lease for 1.4M Sq Ft in Bengaluru

Mumbai-based Tata Consultancy Services (TCS) has secured a new lease for 1.4 million square feet of office space at 360 Business Park in Electronic City. This represents one of the largest office transactions in Bengaluru in recent years. Lease documents obtained by TOI through Propstack indicate that the agreement includes Towers 5A and 5B, consisting of 6.8 lakh square feet in Tower 5A and 7.2 lakh square feet in Tower 5B. The landlord for this space is Labzone Electronics City Pvt Ltd. The agreement is structured in two phases. The first phase, which encompasses the ground floor plus seven floors,…

Latest StoriesRegulatory

ED Conducts Searches on BPTP in Delhi-NCR

NEW DELHI: On Tuesday, the Enforcement Directorate conducted searches at locations linked to real estate firm BPTP across Delhi-NCR as part of an investigation into a foreign exchange violation case involving approximately Rs 500 crore, according to official sources. The searches were carried out at BPTP’s premises in Delhi, Noida, and Faridabad under the Foreign Exchange Management Act (FEMA). A probe revealed that BPTP received over Rs 500 crore in foreign investments pursuant to the “automatic route” from companies based in Mauritius during the 2007-2008 period, allegedly violating existing FEMA regulations, as per ED sources. A spokesperson for BPTP stated…

Latest StoriesResidential

Hrithik Roshan Rents Juhu Flat for Saba Azad at Discounted Rate

Actor Hrithik Roshan has rented a sea-view flat in his luxurious Juhu property to partner Saba Azad for just ₹75,000 per month, significantly lower than current market rates. The leave-and-licence agreement, registered on August 4, stipulates a monthly rent of ₹75,000 with a security deposit of ₹1.25 lakh for a 12-month period, as per data from property platform Zapkey. Roshan purchased three floors in Mannat Apartments (also known as Vartamaan) on Juhu-Versova Link Road in October 2020 for ₹97.5 crore, specifically the 18th, 19th, and 20th floors. This rental rate starkly contrasts with a 2023 agreement in the same building,…

InfrastructureLatest Stories

Manimajra Housing Project to Offer Unique Basement Parking

Representative image CHANDIGARH: The upcoming Manimajra Housing Scheme at Pocket Number 6, with a reserve price exceeding Rs 780 crore, will feature dedicated basement parking along with essential utility services. About 80% of the basement area will be reserved for parking, while the remaining space will contain utility rooms, AC plants, and other non-residential facilities. The municipal corporation (MC) has planned this feature across five distinct plot clusters, with each plot receiving its own basement parking facility. Additionally, the scheme includes separate collector rates for both residential and commercial properties. These matters are slated for discussion at the monthly MC…

InfrastructureLatest Stories

YEIDA to Choose Agency for Hathras Hub Design Plan 2031

NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) is set to hire a consultant to create a detailed project report (DPR) for the Hathras Urban Centre, marking the final urban centre in its Phase-II Master Plan 2031. Officials state that the DPR will act as a foundation for the city’s transformation. It will guide land acquisition, developer selection, and project execution, facilitating the organized development of Hathras into a modern industrial and residential hub. The recent move follows the state government’s approval in March for the second phase of the master plan, empowering YEIDA to oversee significant industrial, residential, and…

Latest StoriesResidential

Residents Push for Balcony and Extension Regulation in Noida

Representative image created by AI NOIDA: The Federation of Noida Residents Welfare Associations (FONRWA) on Monday urged the Noida Authority CEO to regularize unauthorized extensions in residential homes, including rear balconies and ground floor covers. They suggested imposing penalties if necessary and sent a letter to CEO Lokesh M. The federation emphasized that open rear balconies and ground floors pose security risks, and therefore allowing extension covers with applicable fees would be beneficial. This initiative could also help accommodate growing families, as not everyone can afford larger homes. “Today, we wrote to the CEO of the Authority, Lokesh M, requesting…

IndustryLatest Stories

Manesar to Fee Property Owners for Vacant Plot Cleanup

Representative Image GURUGRAM: Property owners will now be held responsible for cleaning costs associated with garbage accumulation on vacant lots and private premises. The Municipal Corporation of Manesar (MCM) commissioner, Ayush Sinha, announced on Monday that officials are now empowered to take immediate action. He also directed joint commissioners to enhance greenery and beautification efforts within the municipal area. Sinha stated, “This initiative aims not only to foster cleanliness in the Manesar area but also to raise public awareness about individual responsibilities.” According to Section 274 of the Haryana Municipal Corporation Act, 1994, if litter is discovered on vacant plots…