Category: Latest Stories

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Latest StoriesRegulatory

Sudhanshu Infrastructure Faces Legal Action in Bhandup Case

MUMBAI: In a significant move against unauthorized construction and violations of urban planning regulations, the Slum Rehabilitation Authority (SRA) has filed a complaint with Bhandup police against Sudhanshu Infrastructure Pvt. Ltd. and its representatives, including Abhayjit Dubey, for alleged illegal structural alterations and unauthorized occupancy of Aniraj Tower in Bhandup (West), Mumbai. According to Laxmikant Manekar, Assistant Engineer at the SRA, the developer improperly constructed a hall instead of a permitted shop on the 8th floor without the necessary approvals under the Maharashtra Regional and Town Planning (MRTP) Act, 1966. This construction violates the approved building plan. Moreover, the developer…

IndustryLatest Stories

Landlords to Auction Bhadravati Civic Body Assets

CHANDRAPUR: In a surprising development, private landowners repossessed furniture and assets from the Bhadravati Municipal Council office due to unpaid rent totaling nearly 66 lakh for land leased for the town’s weekly market. The 30,033 square feet of land, owned by Raju Gundawar, Sanjay Gundawar, and Kishor Gundawar, was leased to the council in 2018 for a monthly fee of 66,000. Although initial payments were made, the council eventually defaulted, accumulating years of overdue rent. Despite repeated reminders and offers of payment plans from the landowners, the council failed to settle the outstanding debt. Consequently, the landowners sought legal recourse,…

Latest StoriesResidential

Thiruvananthapuram Tops State in Home Registrations

THIRUVANANTHAPURAM: In a significant boost to the capital’s real estate sector, Thiruvananthapuram has taken the lead in residential project registrations under the Kerala Real Estate Regulatory Authority (K-RERA) for the first half of the year. From January 1 to June 30, the state capital recorded an impressive 1,068 residential units—marking the highest in the state and the only district to exceed the 1,000-unit milestone. The latest data, released by the state government via the K-RERA website on Monday, shows Thiruvananthapuram’s ongoing momentum in real estate development. Ernakulam followed with 887 units, while Kozhikode saw 632 units, signaling a robust urban…

Latest StoriesRera

Himachal Pradesh Appoints New HP RERA Chairperson & Member

SHIMLA: The Himachal Pradesh government has announced the appointment of former IAS officers RD Dhiman and Amit Kashyap as the Chairperson and Member of the Himachal Pradesh Real Estate Regulatory Authority (HP RERA), following criticism from the High Court regarding delays in these appointments and a penalty of ₹5 lakh imposed on the state government. According to the notification from the Housing Department (No. HSG-A003/1/2024-L dated June 24, 2025), RD Dhiman has been designated as the Chairperson while Amit Kashyap has been appointed as a Member. These appointments are made under Section 20 of the Real Estate (Regulation and Development)…

CommercialLatest Stories

Dharavi Redevelopment: India’s Next Prime Business Hub

AI-generated Representative Image The redevelopment project of Dharavi, Asia’s largest slum, is set to introduce a dedicated commercial business district, enhancing both business and employment opportunities amidst one of the most ambitious urban transformations globally. A significant portion of the nearly 600-acre prime land in the heart of Mumbai, India’s financial hub, will be designated for commercial use, aiming to establish a central business district (CBD) that attracts diverse companies. This district is anticipated to feature Grade-A office spaces, premium retail, co-working areas, hotels, and infrastructure support, as per sources involved in the planning. “The commercial area will utilize land…

Housing FinanceLatest Stories

Bank of Baroda, HDFC Cut Lending Rates by Up to 50 bps

NEW DELHI: On Sunday, state-owned Bank of Baroda (BoB) announced a reduction of its benchmark lending rate linked to the repo rate by 50 basis points, aligning with the Reserve Bank of India’s (RBI) recent rate cut. Meanwhile, private sector lender HDFC Bank lowered its Marginal Cost of Funds-based Lending Rates (MCLR) by 10 basis points across various tenures, which will be advantageous for borrowers linked to this benchmark. Following the RBI’s policy repo rate cut, BoB has reduced its Repo Linked Lending Rate (RLLR) by 50 basis points effective June 7, now standing at 8.15 percent. This adjustment reflects…

InfrastructureLatest Stories

Andhra Pradesh Reveals Capital Land Pooling Scheme Rules, 2025

AMARAVATI: On Tuesday, the Andhra Pradesh government announced the Andhra Pradesh Capital Region Land Pooling Scheme (Formulation and Implementation) Rules, 2025, which will oversee the innovative land pooling method necessary for the development of the greenfield capital city, Amaravati. S. Suresh Kumar, Principal Secretary for Municipal Administration and Urban Development, stated that these rules will apply to the ‘capital region,’ while the ‘capital city area’ will still follow the guidelines set by the Andhra Pradesh Capital City Land Pooling Scheme (Formulation and Implementation) Rules of 2015. The scheme is designed to align with the government’s vision of creating a ‘People’s…

Latest StoriesRegulatory

SC Approves M3M Group’s Request to Substitute Attached Property

Supreme Court NEW DELHI: The Supreme Court has granted M3M Group’s request to substitute a property initially attached by the Enforcement Directorate under the Prevention of Money Laundering Act, 2002. A bench consisting of Justices P S Narasimha and R Mahadevan ruled that the property substitution is contingent upon nine conditions recommended by the ED. The bench stated, “We have heard Dr. Abhishek Manu Singhvi, senior counsel for the petitioner, and have considered the matter thoroughly. The petitioners, M/s. M3M India Pvt. Ltd. and M/s. M3M India Infrastructure Pvt. Ltd., have submitted an affidavit agreeing to the stipulations. While we…

IndustryLatest Stories

Norges Bank sells ₹42 crore in Raymond Realty; parent’s ₹221 crore deal

On Tuesday, Raymond Limited’s real estate division, Raymond Realty, made its debut on the stock market amid a block deal, as Norges Bank sold 4,12,585 equity shares valued at approximately Rs 42 crore. This transaction occurred slightly above the listing price of Rs 1,000 on the NSE but below the discovery price. Norges Bank, on behalf of the Norwegian Government Pension Fund Global, sold shares at Rs 1,005.94. Conversely, shares of Raymond Realty closed at Rs 999, down by Rs 40, which is nearly a 4% drop from the discovery price of Rs 1,039.30. The parent company, Raymond, also experienced…

Latest StoriesResidential

Jaipur to Hold Lottery for 3 Residential Schemes on July 2

JAIPUR: The Jaipur Development Authority (JDA) is set to conduct the lottery for allotting plots in three residential schemes—Ganga Vihar, Yamuna Vihar, and Saraswati Vihar—on Wednesday. This marks the first time JDA will live stream the entire lottery process. According to JDA commissioner Anandhi, “The event will take place at the Citizen Service Centre of JDA headquarters. We will stream the entire lottery live on JDA’s YouTube channel and Facebook page.” JDA has received more than 82,000 applications for a total of 765 plots across these three schemes. Published On Jul 2, 2025 at 09:29 AM IST Join our community…