Category: Latest Stories

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Latest StoriesRegulatory

Bombay HC Urges Strict Safety Adherence for High-Rise Buildings

MUMBAI: The Bombay High Court has mandated that all planning authorities incorporate a specific condition regarding adherence to “special safety control recommendations for working at heights during high-rise construction” when issuing development permissions for high-rise buildings, as per an expert committee’s report. The state informed the court that directives were issued on August 20 to all municipal corporations and councils to ensure these recommendations are followed. This follows the court’s previous orders highlighting significant safety lapses, particularly regarding machinery such as suspended cranes used in high-rise construction projects. The bench comprising Justices Girish Kulkarni and Manjusha Deshpande has established that…

IndustryLatest Stories

Mysuru’s Online Auction of Upscale Sites Draws High Bids

MYSURU: An online auction of stray MDA sites in Mysuru’s upscale neighborhoods has revealed astonishing bids. The top bid for a 745 sqft corner plot in the affluent Vijayanagar IV stage reached Rs 2 crore, significantly above the base price of Rs 59.6 lakh. Another site, spanning 4,133 sqft, garnered a bid of Rs 9 crore compared to its starting price of Rs 3.3 crore. Both properties had a base price set around Rs 8,000 per sqft, using market rates and previous sales as benchmarks. Bids for these properties have surged, often reaching two to three times the original base…

Housing FinanceLatest Stories

Sammaan Capital Secures $300M Through International Bonds

MUMBAI: Sammaan Capital, formerly known as Indiabulls Housing, has successfully raised $300 million (approximately ₹2,600 crore) through three-year bonds aimed at international investors. This marks the company’s inaugural international bond issuance in its new identity. The fundraising occurred at a yield of 8.95%, representing the first high-yield bond offering from India in the current fiscal year. CEO Gagan Banga stated that the funds will help diversify the company’s funding sources. Following this issuance, 10% of Sammaan’s funding will come from international markets. “We’ve been preparing for this issuance since April, waiting for the right investors, and we have successfully secured…

InfrastructureLatest Stories

Thane Launches Squad to Tackle Unauthorized Constructions

THANE: The Thane Municipal Corporation (TMC) has established a special squad to oversee and take action against illegal constructions in Diva and Mumbra, officials announced on Sunday. The move follows multiple complaints regarding unauthorized constructions in these areas. TMC Commissioner Saurabh Rao directed the formation of this team to actively combat these violations, as stated in an official release. This decision was made after a high-level review meeting on Saturday, where the commissioner stressed the urgent necessity to tackle these issues, particularly in regions where construction activities are flourishing. In compliance with high court mandates, actions are being implemented across…

Latest StoriesResidential

Ghaziabad to Address Buyers’ Complaints Monthly

GHAZIABAD: The Ghaziabad Development Authority (GDA) has initiated the ‘Rera Samadhan Diwas’ to address complaints against it under UP Rera. This monthly event will take place on the third Thursday of each month. “As a development authority, the GDA is responsible for creating townships, including Madhuban Bapudham. It is accountable to home buyers investing in its housing schemes, similar to private developers. Hence, home buyers can approach the regulatory authority for any issues with the GDA,” a GDA official explained to TOI. The official continued, “Since UP Rera’s inception, many cases have been filed against GDA, leading to adverse orders,…

Latest StoriesRegulatory

NIT Report Recommends Retrofitting LIFE Mission Buildings

KOCHI: The National Institute of Technology (NIT) Kozhikode has recommended that structures built under the LIFE Mission housing project in Wadakkancherry, Thrissur, be used for their intended purpose after necessary structural modifications, such as rehabilitation or retrofitting, to rectify identified issues. The report noted that while the buildings have been neglected for the past five years and show signs of poor craftsmanship, demolition is not necessary. This report was submitted by the state government to the Kerala High Court in response to a petition from Congress leader Anil Akkara urging the resumption of halted construction on the project. In the…

IndustryLatest Stories

Opposition Grows to Proposed Building Rules in Punjab

BATHINDA: Several pro-environment organizations and activists have voiced strong objections to the proposed Punjab Unified Building Rules, 2025, likening them to a land-pooling policy. They contend that the draft favors builders over the general public by granting developers extensive powers. These organizations argue that Punjab’s residents are opposed to congested, unsafe, and unlivable urban areas. They express concerns that provisions for unlimited floor area ratio (FAR), increased population densities, habitable basements, commercializing residential spaces, relaxed fire safety standards, and loss of green areas will lead to concrete jungles. They believe that the proposed rules prioritize developer profits at the expense…

InfrastructureLatest Stories

Bengaluru Authority to Launch in September

BENGALURU: The state government is finalizing preparations to launch the Greater Bengaluru Authority (GBA) on September 2. This new entity will replace the Bruhat Bengaluru Mahanagara Palike (BBMP) with five municipal corporations. Draft orders for the new corporations have already been issued, objections have been considered, and a final notification is expected soon. The historic BBMP headquarters, which has housed the city’s administration since 1947, is being renovated to serve as the Chief Minister’s office in his role as Chairperson of the GBA. The Bengaluru Urban Development Minister, acting as Deputy Chairperson, will work from the upgraded Deputy Mayor’s office.…

IndustryLatest Stories

MHA Urges Chandigarh Admin for Response on Property Issues

CHANDIGARH: The Ministry of Home Affairs (MHA) has once again reached out to the Chandigarh administration regarding unresolved property issues, following a lack of response. In its recent communication, the MHA referenced a letter from Chandigarh MP Manish Tewari, highlighting five critical matters concerning the administration. The MHA’s letter states, “The requisite information is still awaited. Therefore, we kindly request your comments on the following major issues facing the Chandigarh administration.” The Times of India was the first to report on this communication. The ministry is seeking updates and views on several “major issues.” The identified issues include: property sale…

IndustryLatest Stories

BMC to Launch Safety Licenses for High-Rise Site Officers

Representative image created by AI MUMBAI: The BMC’s building proposal department should implement a professional safety license for Licensed Safety Officers (LSOs) for each high-rise development in the city. The special safety control guidelines recommended by a committee, as directed by the Bombay High Court, were approved by the state government and sent to the BMC on August 20. In 2022 and 2023, there were incidents involving tower cranes that affected pedestrians. On February 14, 2023, a tragedy occurred at a residential construction site where concrete blocks fell from the 42nd floor onto an adjacent road, resulting in the deaths…