Category: Latest Stories

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Latest StoriesResidential

Bhubaneswar: 100 Flats Delivered in Shantipalli Awas Phase 3

File Photo BHUBANESWAR: The Bhubaneswar Municipal Corporation (BMC) and the Bhubaneswar Development Authority (BDA) have successfully allocated over 100 additional units at the Shantipalli Awas Yojana to beneficiaries, enhancing quality living conditions. This marks the third allotment phase of the Shantipalli Awas Yojana, also known as Keshari Residency at Satya Nagar. This initiative is part of three affordable housing projects under the PM Awas Yojana in Bhubaneswar. Construction is ongoing for the other two projects, Ekamra Residency and Barunei Enclave, located at Buddha Vihar and Subuddhipur, respectively. With this latest round, the total beneficiaries who have received homes in the…

IndustryLatest Stories

Maharashtra Revamps Rules for Redevelopment Projects

MUMBAI: The Maharashtra government has announced proposed amendments to the Development Control and Promotion Regulations (DCPR) 2034 for Greater Mumbai, aimed at enhancing the feasibility and financial viability of redevelopment schemes under the Maharashtra Housing and Area Development Authority (MHADA). The proposal comes after MHADA approached the state government, requesting modifications to existing provisions to bolster the viability of its redevelopment projects. Currently, Regulation 31(3) permits builders to receive extra ‘fungible’ construction area, exempt from premium charges, based solely on the existing built-up area of a project. The government intends to expand this benefit to include the rehabilitation area, allowing…

IndustryLatest Stories

Real Estate Firms Surge to NCR Amid Rising Demand and Prices

Representative AI image NEW DELHI: The National Capital Region (NCR) is progressively attracting developers from Mumbai and Bengaluru, with price growth in the market surpassing other areas, experts indicate. Mumbai’s Oberoi Realty is set to introduce its initial project in Gurugram this fiscal year, while Lodha and Rustomjee are exploring land acquisition opportunities in the region, according to informed sources. Bengaluru’s Prestige Group and Sobha, early movers in the region, are now ramping up their expansion, making NCR their fastest-growing market. Godrej Properties and Tata Realty from Mumbai are also bolstering their presence in NCR. Newcomers like Dalcore are selecting…

Latest StoriesResidential

Special Camp for Lucknow Property Registration: Nov 3-15

LUCKNOW: Property owners waiting for the formal registration of their properties from the Lucknow Development Authority (LDA) will soon have the opportunity to complete the process at a dedicated ‘single-window’ camp. This initiative, lasting 13 days, aims to address the substantial backlog of pending registrations for numerous residential and commercial properties. The camp will take place from November 3 to 15 at the committee hall of the LDA building, as per the directive of LDA Vice-Chairman Prathmesh Kumar. According to LDA Secretary Vivek Srivastava, this effort is a collaboration between the LDA and the registry department. For the first ten…

Latest StoriesRegulatory

HC Orders Haryana to Explain SEIAA Composition Delay

CHANDIGARH: The Punjab and Haryana High Court has instructed the State of Haryana to submit a specific affidavit from the Additional Chief Secretary of the Department of Mines and Geology. This affidavit must explain why the State Environment Impact Assessment Authority (SEIAA) has not been constituted since February 2025. The court also requested all correspondence between the State of Haryana and the pertinent Union of India departments to be included with the affidavit. A division bench, consisting of Justice Ashwani Kumar Mishra and Justice Rohit Kapoor, issued these directives while adjudicating a petition from M/s Darsh Minerals Private Limited and…

InfrastructureLatest Stories

Uttar Pradesh Approves Township Plan Near Hindon Terminal

GHAZIABAD: On October 24, the UP Housing and Development Board approved the layout plan for the Ajantapuram township in Sikandarpur, located approximately 1.5 km from Hindon Civil Terminal. This decision ends a 28-year stalemate caused by opposition from cooperative societies. With the approval secured, development work is anticipated to commence soon, with a completion timeline of around five years, according to officials. “The clearance of the layout plan clears the path for the development of the township, which has been stalled for nearly three decades,” stated H Ram, executive engineer of the board. According to officials, the primary cause of…

Housing FinanceLatest Stories

PNB Housing Finance Selects Four Candidates for CEO Role

MUMBAI: PNB Housing Finance, the third-largest housing finance company in India, has shortlisted four candidates for the role of managing director and CEO. Ajai Shukla, chief business officer at Tata Capital Housing Finance, is reportedly the leading candidate, according to sources familiar with the situation. The other contenders include Jatul Anand, executive director at PNB Housing Finance; Sachinder Bhinder, MD & CEO of Aavas Financiers; and Rajan Suri, chief business officer at Aditya Birla Housing Finance. These names have been submitted to the Reserve Bank of India (RBI) and the National Housing Bank (NHB) for consideration, as regulatory approval is…

IndustryLatest Stories

Odisha: Tehsil Office Land Registration Starts November 1

BHUBANESWAR: The Odisha government is set to decentralize property registration by launching land registration services at tehsil offices across the state starting November 1. Revenue and Disaster Management Minister Suresh Pujari announced on Thursday that Chief Minister Mohan Charan Majhi will inaugurate the initiative, which will initially cover 44 tehsils, with plans to expand to all 273 by December. The new system enables citizens to book registration slots online and conduct sale deed transactions at their local tehsil offices, eliminating the need for trips to district-level sub-registrar offices. Existing registration services at sub-registrar offices will continue to operate alongside the…

CommercialLatest Stories

Mangaluru: ₹135 Crore Tender for Tech Park in PPP Model

MANGALURU: Often called the ‘Silicon Beach of India’, the city will soon see its first purpose-built tech park at Survey No. 129-1A, Blueberry Hills Road, Derebail. The Karnataka State Electronics Development Corporation (KEONICS) has initiated a tender process, with submissions open from October 29 to December 15. This project aims to create a commercial office tech park featuring grade-A building specifications, under a public-private partnership (PPP) model. The development and management will follow a design-build-finance-operate-transfer (DBFOT) approach, with the project’s value estimated at Rs 135 crore, which is expected to generate approximately 11,000 jobs. According to the transaction adviser for…

IndustryLatest Stories

Bengaluru Allows 15% Regularization for Minor Building Deviations

BENGALURU: In a significant development, the Karnataka government has granted relief to building owners statewide who have deviated by up to 15% from their sanctioned plans. Owners can now apply for revised plans by paying a designated fine that corresponds to the extent and nature of their deviations. While this current order does not cover the Greater Bengaluru Area (GBA), residents can look forward to potential good news. The town planning unit in GBA is working on a similar draft bill aimed at regularizing building deviations of up to 15% in Bengaluru. Officials stated that since the GBA is not…