Category: Latest Stories

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Housing FinanceLatest Stories

Grihum Housing Finance to Appoint Ex-Citi Banker as CEO

MUMBAI: TPG-backed mortgage lender Grihum Housing Finance is preparing to appoint Arjun Chowdhry, a former Citibanker, as its new Managing Director and CEO, according to insider sources. He is anticipated to join the firm next month. Chowdhry, who has over two years of experience as the head of retail lending and credit cards at Axis Bank, resigned last month to embark on an entrepreneurial journey. “TPG and the board believe Arjun’s expertise in underwriting credit card customers will greatly benefit strategies aimed at low-income clients, often perceived as higher risk,” noted a knowledgeable official. Messages sent to Chowdhry and Grihum…

InfrastructureLatest Stories

NGT Requests Reports on Aravalis Farmhouses from Haryana, Rajasthan

GURUGRAM: The National Green Tribunal (NGT) requested compliance reports from the Haryana Pollution Control Board (HSPCB) and the Sohna Municipal Council during a hearing on Monday. Both entities were made respondents in an ongoing case addressing unauthorized construction and reconstruction activities in the ecologically sensitive Aravali hills of Raisina. Counsel representing Haryana and Rajasthan requested a four-week extension to submit their compliance reports concerning prior directions aimed at protecting the Aravalli hills. The bench approved this request, scheduling the next hearing for October 16. The bench, consisting of NGT Chairperson Justice Prakash Shrivastava and expert members Dr. A. Senthil Vel…

Latest StoriesResidential

Property Owners Criticize Bengaluru Body for High Khata Fees

BENGALURU: The high khata transfer fee set by the Bangalore Development Authority (BDA) has faced criticism from property owners in its developed layouts. Property owners express willingness to pay a transfer fee but dispute the significant increase introduced by the BDA. They assert that the hike is not justified and imposes an undue financial strain on individuals updating property ownership records without any meaningful additional service or benefit. A common complaint is that the BDA charges the same fee for transferring khata to a dependent’s name after the original owner’s death as it does for standard sale transactions. Owners have…

IndustryLatest Stories

Abhishek Kapoor Named New CEO of My Home Constructions

NEW DELHI: My Home Constructions, a subsidiary of the My Home Group based in Hyderabad, has announced the appointment of Abhishek Kapoor as the new chief executive officer (CEO), effective immediately. Kapoor recently resigned as group CEO and executive director at Puravankara. “Our goal is to strengthen My Home’s footprint in Bengaluru, Chennai, and Mumbai through innovative products and exceptional customer service,” Kapoor stated. He will be responsible for driving the company’s growth strategy, focusing on business development, land acquisition, sales and marketing, strategic partnerships, and operational execution. My Home Constructions currently has over 50 million sq ft of construction…

Latest StoriesRera

UP-RERA Holds Weekly ‘Samvaad’ for Homebuyer Grievances

Representative image created by AI NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) hosted its weekly ‘RERA Samvaad’, a virtual interaction designed to address homebuyers’ concerns and provide guidance on legal remedies. The session, led by Sanjay Bhoosreddy, chairman of UP-RERA, saw participation from 24 pre-registered homebuyers. Participants from locations including Dubai, NCR, Ranchi, and Prayagraj raised concerns primarily about delays in apartment possession, where developers had failed to deliver despite significant payments. Officials outlined the available legal options, such as filing complaints with RERA, taking action against non-compliant developers, and utilizing online platforms for grievance resolution. UP-RERA’s…

Latest StoriesRegulatory

ED Arrests Galaxy Constructions Director in Bank Fraud Case

MUMBAI: The ED has taken into custody the director of a Pune-based real estate firm from a five-star hotel in Mumbai, along with Rs 9.5 lakh in cash and gold and diamond jewelry valued at Rs 2.3 crore in connection with a bank loan fraud investigation. Amit Ashok Thepade was arrested on Sunday at the luxury hotel in south Mumbai, where he had been residing for the past two months. According to the federal agency, a special Prevention of Money Laundering Act (PMLA) court has remanded him to ED custody for five days. The ED reported that Thepade, who had…

Latest StoriesResidential

40+ AOAs in Noida Protest FIRs for Disputes and Accidents

NOIDA: Over 40 Apartment Owners Associations (AOAs) from various high-rises in Noida convened to protest against recent FIRs filed against them regarding incidents occurring within their residential complexes. These protests were prompted by FIRs against Amrapali Platinum, Supertech Capetown, and others over injuries caused by planter falls or disputes among residents. On August 16, a 12-year-old girl sustained severe head injuries when a piece of plaster from the 25th floor of Amrapali Platinum fell on her. Her grandfather claimed that there were no safety barriers, netting, or warning signs, leading to an FIR against the association for negligence. Ajit Kumar…

Latest StoriesRegulatory

Krrish Realtech diverted ₹205 crore from homebuyers to Colombo hotel: ED

GURUGRAM | NEW DELHI: A Gurugram realty company allegedly defrauded home buyers by collecting over Rs 500 crore for housing plots and misappropriating approximately Rs 205 crore for a hotel project in Sri Lanka, according to a chargesheet filed by the ED. The federal investigation agency is looking into various homebuyer fraud cases nationwide, particularly in the National Capital Region (NCR), where the real estate market is thriving. This specific inquiry involves Krrish Realtech, led by its promoter Amit Katyal, among others. Katyal was arrested in 2023 in a separate money laundering case linked to an alleged land-for-jobs scam with…

Latest StoriesRegulatory

Court Denies HDIL Promoter Trip to Hyderabad, Allows Other Travel

MUMBAI: A special PMLA court has denied HDIL promoter Sarang Wadhawan’s request to travel to Hyderabad, where he is under investigation for allegedly facilitating threats via another individual. Wadhawan is implicated in a Rs 6,117.9 crore money laundering case. “A complaint has been filed with the ED (Enforcement Directorate) concerning threats involving the accused, and verification of the allegations is ongoing. Given the situation, allowing the applicant to visit Hyderabad is neither just nor appropriate,” stated Special Judge R B Rote. Wadhawan, who was released on bail last year after being arrested four years ago alongside his father, Rakesh Wadhawan,…

IndustryLatest Stories

HUDCO to raise ₹3,000 crore via debentures

Representative image NEW DELHI: Housing and Urban Development Corporation Limited (HUDCO) is set to raise up to Rs 3,000 crore by issuing non-convertible debentures. In a regulatory announcement made on Monday, the company stated that its Board of Directors had approved a proposal in April to raise up to Rs 65,000 crore through bond/debenture issuance for the fiscal year 2025-26. The Bond Allotment Committee plans to meet on August 29, 2025, to consider the issuance/allotment of unsecured, taxable, redeemable, non-convertible, non-cumulative NCDs with a face value of Rs 1 lakh each, totaling up to Rs 3,000 crore on a private…