Category: Latest Stories

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Latest StoriesResidential

Bengaluru East Orders 160+ Illegal PGs to Comply by Nov 5

BENGALURU: The Bengaluru East City Corporation has initiated a significant campaign against unauthorized paying guest (PG) accommodations, uncovering 165 unlicensed establishments through routine ward inspections. These inspections, carried out by health officials across all wards, revealed a considerable number of the 1,452 PGs operating within the corporation limits were functioning without the required trade licenses or safety compliance. The civic body issued a final public notice urging PG owners to obtain licenses within seven days to avoid legal repercussions, including penalties and potential sealing of their properties. The deadline is set for Wednesday. Violations include operating in residential zones without…

Latest StoriesRegulatory

Hyderabad: Firm sued for duping nine flat buyers of ₹4 crore

HYDERABAD: The Cyberabad Economic Offences Wing (EOW) has initiated a cheating case against a construction company based in Jubilee Hills, accused of defrauding nine flat buyers of ₹4.41 crore linked to a stalled project in Tellapur. The complainants, K Mahesh, a 34-year-old employee of a Public Sector Undertaking (PSU), and his friend T Chandra Kiran Kumar began their home search in 2021. They were approached by a marketing executive named Bhargav, who offered an attractive early bird rate of ₹2,800 per square foot with a guaranteed buy-back option. Believing claims that the necessary land would be procured and that HMDA…

Latest StoriesRegulatory

Maharashtra Eases Land Rules Restricted by Fragmentation Act

NAGPUR: The Maharashtra government has taken a significant step in land reform by officially regularizing numerous land parcels previously constrained under the Fragmentation and Consolidation of Holdings Act, 1947. This change is expected to benefit nearly 20 million citizens. Revenue Minister Chandrashekhar Bawankule announced the implementation of this long-awaited amendment following the issuance of a government gazette notification on Tuesday. Describing it as a momentous and citizen-focused reform, Bawankule stated, “Approximately 4.9 million landholders—representing around 20 million family members—will now have their names officially listed on 7/12 land extracts. This decision resolves decades of confusion and challenges posed by antiquated…

Latest StoriesResidential

No Authority: Registrars Can’t Issue NOCs for Redevelopment

PUNE: Maharashtra Cooperation Commissioner Deepak Taware has clarified that registrars and sub-registrars lack the authority to issue a ‘no objection certificate’ (NOC) to housing societies for property redevelopment. The commissioner emphasized that the general body of the cooperative housing society is the primary decision-making authority regarding redevelopment matters. Referring to a writ petition in the Bombay High Court, Taware highlighted that a 2019 government resolution defines the roles of registrars and cooperative societies as supervisory only. According to the Maharashtra Cooperative Societies Act, 1960, there are no provisions granting registrars the right to issue NOCs for redevelopment, underscoring that the…

CommercialLatest Stories

Brookfield India REIT to Buy 7.7M sq ft Park for ₹13,000 Crore

NEW DELHI: Brookfield India Real Estate Trust (BIRET) announced plans on Tuesday to acquire 7.7 million sq ft of commercial properties in Bengaluru for Rs 13,125 crore as part of its business expansion. The acquisition will be treated as a related party transaction and is expected to be conducted at arm’s length, as stated by the company. In its regulatory filing, BIRET disclosed that the Board of Directors of Brookprop Management Services Pvt Ltd, the trust’s manager, approved the acquisition of up to 100% of the issued and paid-up equity share capital of Arliga Ecoworld Business Parks Pvt Ltd for…

Latest StoriesResidential

Amitabh Bachchan Sells 2 Luxury Mumbai Apartments for ₹12 Crore

Bollywood star Amitabh Bachchan has sold two adjacent luxury apartments, collectively spanning 3,640 sq ft, in a high-rise residential tower located in Goregaon, Mumbai, for a total price of ₹12 crore. Each apartment, measuring 1,820 sq ft, is situated on the 47th floor. The first sale was recorded on October 31 for ₹6 crore, with the second transaction occurring the following Saturday for an equal amount. A total stamp duty of ₹60 lakh applies to these transactions. The sales were conducted separately with different buyers, as indicated by documents obtained from the real estate data analytics platform CRE Matrix. Each…

Latest StoriesRegulatory

SC Halts Order to Remove Illegal Constructions in DLF City, Gurugram

NEW DELHI: The Supreme Court has overturned a Punjab and Haryana High Court order mandating the removal of unauthorized and illegal constructions in Gurugram’s DLF City. A bench comprising Justices J K Maheshwari and Vijay Bishnoi issued this ruling after observing that the directive was given without allowing the property owners a chance to be heard, as they were not parties to the original lawsuits. The apex court noted that the High Court’s direction, regarding the jurisdiction of the civil court or the removal of constructions, did not consider the appellants, which is a procedural oversight. “It is essential for…

Latest StoriesRera

Uttar Pradesh RERA Lifts 22 Projects from ‘Abeyance’ Status

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has de-listed 22 projects from the ‘abeyance list’ across seven districts, allowing construction work to resume. A total of 8,856 units—including flats, plots, and commercial units—will be built under these projects, representing a significant advancement in reviving long-stalled developments. Since the implementation of RERA, numerous projects were flagged for not having the required documents submitted at registration. After comprehensive evaluations, the authority issued notices to the promoters. In July 2024, it was determined that about 400 projects with incomplete documentation would be classified under ‘abeyance.’ Sanjay R. Bhoosreddy, chairman of…

IndustryLatest Stories

Arvind SmartSpaces Q2 FY26 Net Profit Falls 57.61%

NEW DELHI: Arvind SmartSpaces has announced a 57.61% drop in its net consolidated profit for the quarter ending September 30, 2025. Profit after tax for Q2 FY26 was ₹18.06 crore, compared to ₹42.60 crore in the same quarter last year, according to a BSE filing. The company reported a net consolidated total income of ₹144.03 crore for Q2 FY26, marking a 46.51% decline from ₹269.28 crore in the previous fiscal year’s corresponding quarter. Priyansh Kapoor, CEO and Whole-Time Director, stated, “We have recently signed a new joint development project in Vadodara with a top-line potential of ₹700 crore. Our balance…

IndustryLatest Stories

Noida Airport Ready, But 94% Business Plots Unused Along Yamuna

Representative Image NOIDA: As Uttar Pradesh rushes to finalize the Noida International Airport, a government survey has revealed that a significant portion of industrial land along the Yamuna Expressway—projected as a major growth corridor—remains undeveloped, hindering the region’s industrial potential just months ahead of the airport’s inauguration. The ongoing Invest UP survey, ordered by Chief Minister Yogi Adityanath earlier this year, indicates that more than 8,200 out of 33,493 industrial plots surveyed statewide are unutilized. This issue is particularly pronounced in the Yamuna Expressway Industrial Development Authority (YEIDA) area, where a staggering 94% of the 3,476 plots lack any development.…