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IndustryLatest Stories

Pune Activists: Scrap Janata Vasahat TDR Proposal, Don’t Pause It

Here’s a rewritten version of your content: — PUNE: Following the state government’s decision to pause the contentious TDR (Transfer of Development Rights) proposal for the Janata Vasahat slum rehabilitation, activists and residents are calling for its complete cancellation. They allege significant irregularities in land classification, inflated valuations, and a transparency deficit that could jeopardize the rights of slum dwellers. The project, valued at Rs750 crore, involves allocating full TDR, representing 100% of the slum area at 1 Floor Space Index (FSI). However, parts of the Janata Vasahat slum are designated in the Pune Municipal Corporation (PMC)’s Development Plan as…

Housing FinanceLatest Stories

Centrum Capital sells mortgage unit to Weaver for ₹430 crore

NEW DELHI: Centrum Capital Ltd has announced the signing of an agreement to divest its complete stake in Centrum Housing Finance Ltd (CHFL), its affordable housing finance arm, to lender Weaver Services for Rs 430 crore. This agreement, approved by Centrum’s board, is contingent upon shareholder, regulatory, and other commercial approvals, as stated by Centrum Capital. As of June 30, 2025, CHFL manages assets worth Rs 1,640 crore and operates in 100 locations, serving over 18,000 customers. Their offerings include home loans, self-construction loans, home improvement loans, and loans against property. For this transaction, E&Y acted as the financial advisor…

InfrastructureLatest Stories

Bengaluru invites global bids for revised 2041 master plan

BENGALURU: The Bangalore Development Authority (BDA) has initiated a global tender to develop the Revised Master Plan (RMP-2041), which aims to create a comprehensive vision for the city’s future. This decision follows the previous RMP-2031 being put on hold due to criticism over insufficient scientific foundation, inadequate stakeholder involvement, and failure to tackle the city’s rapid and unplanned growth. Interested bidders can submit proposals until September 30. BDA officials assert that the new plan will rectify past shortcomings and establish a robust framework for managing Bengaluru’s growing population, increasing traffic, and urban expansion. A high-tech 3D drone survey is currently…

Latest StoriesRegulatory

ED Files 22 Cases in Builders-Banks Nexus Investigation

NEW DELHI: The Enforcement Directorate (ED) has initiated 22 cases under the anti-money laundering statutes to probe the alleged “unholy nexus” between builders and banks responsible for defrauding homebuyers in the national capital region (NCR), according to officials. The cases, filed under the Prevention of Money Laundering Act (PMLA), arise from an equal number of FIRs by the CBI issued at the end of July, following directives from the Supreme Court. The ED emphasizes that these cases involve significant public interest, with numerous homebuyers allegedly victimized. Investigations will focus on uncovering fraud, corruption, and money laundering activities by builders, banks,…

InfrastructureLatest Stories

Pune Residents Demand Action Against Officials for Floodline Builds

Certainly! Here’s a rewritten version of the content: PUNE: Recent flooding along the banks of the Mula and Mutha rivers, particularly in areas like Ekta Nagari and the Rajput slums in Bopodi, has once again underscored the urgent need to clearly define the flood zones. Homeowners who invested in properties decades ago are now anxious about their investments, seeking accountability for permits issued for construction in flood-prone areas. Local inhabitants expressed frustration over conflicting views between local authorities, the irrigation department, and district administration regarding the proper delineation of flood risk areas. Residents argue, “If the flood zones had been…

InfrastructureLatest Stories

Chandigarh Admin Orders Firefighting System in Dhanas Colony

CHANDIGARH: Concerned about the lack of a firefighting system at the Dhanas Rehabilitation Colony, Punjab Governor and UT Administrator Gulab Chand Kataria has urged the Chandigarh Housing Board (CHB) to expedite its installation. The administrator expressed frustration over the delays and has instructed the CHB to take immediate action and report back within a month. Over 45,000 lives are at risk in the city’s largest rehabilitation colony, which has been without a firefighting system for 13 years. The colony contains 8,448 flats allocated to slum dwellers as part of a Government of India scheme, with residents moved in since 2013.…

IndustryLatest Stories

PAC: Punjab Building Rules Inferior to Land Pooling

LUDHIANA: Members of a public action committee have voiced strong opposition to the draft Punjab Unified Building Rules 2025. They argue that the proposed regulations are even more detrimental than the land pooling scheme previously withdrawn by the state government due to public pressure, claiming it will exacerbate traffic congestion and other issues, undermining its intended purpose. The objections were presented by PAC (Mattewara) representatives—Jaskirat Singh, Kapil Arora, Kuldeep Singh Khaira, and Amandeep Bains—before the director of town and country planning on Thursday. The housing and urban development department had solicited public feedback on the Draft Punjab Unified Building Rules…

Latest StoriesRegulatory

MP HC summons Bhopal collector in contempt matter

BHOPAL | JABALPUR: The Madhya Pradesh High Court has summoned Bhopal collector Kaushlendra Vikram Singh to appear on August 25 regarding a contempt petition. This petition concerns non-compliance with a court order issuing a revenue recovery certificate (RRC) for the recovery of ₹70 lakh from a builder, as decreed by the Real Estate Regulatory Authority (RERA). Bhanu Pratap Singh from Gwalior submitted the contempt petition after RERA ruled in his favor, issuing a RRC for ₹70 lakh against a Bhopal builder. The RRC was to be executed by the Bhopal collector, yet there has been no action taken. This prompted…

Latest StoriesRegulatory

DLF Ordered to Compensate Buyer for Flat Delay in Kakkanad

KOCHI: The Ernakulam district consumer disputes redressal commission has mandated DLF, a real estate developer, to provide compensation for the delayed handover of a flat by nearly four years, along with additional charges imposed. This order was issued following a complaint lodged by Seena Susan Kuruvilla and her son, Mithun Kuruvilla, regarding the DLF New Town Heights project located in Kakkanad. In May 2010, the complainants reserved an apartment at DLF New Town Heights for Rs 34.29 lakh, with an agreement stating the flat would be delivered by January 19, 2013. Despite having paid 95% of the total, the flat…

IndustryLatest Stories

Brigade Group Leases 9-Acre Plot on Chennai’s OMR

Representative image created by AI BENGALURU: Brigade Group, a prominent real estate developer, has secured a long-term lease for nine acres of land in Perungudi along the Old Mahabalipuram Road (OMR) in Chennai from YMCA. This acquisition stands out as one of the most significant transactions in the city’s IT corridor in recent years. The site, leased for 55 years, is situated in a strategically important area where large land parcels are rare. It has the potential for development of approximately 1.6 million sq ft, according to an insider. Though financial specifics are not disclosed, experts estimate that land at…