Category: Latest Stories

Access daily updates on all real estate sectors including residential, commercial, retail, and infrastructure. Stay ahead with market trends, policy changes, investment news, and expert analysis from across the globe.

IndustryLatest Stories

40 Developers Owe ₹261 Crore for Transit Tenements: CAG

MUMBAI: According to a report by the CAG, many developers involved in redevelopment initiatives nearly 25 years ago have retained transit tenements provided by Mhada, as of March 2022. The audit indicated that Mhada distributed 3,357 transit tenements to 43 private developers. These developers were required to pay one year of rent in advance, along with a three-month security deposit at the time of receiving the tenements. The audit findings stated, “Out of the 43 private developers, only three have settled their outstanding dues, leaving Rs 261.14 crore still owed by the remaining 40 developers as of March 2022.” Published…

InfrastructureLatest Stories

Maharashtra Govt Approves Loan Guarantee for Six Metro Projects

MUMBAI: The Maharashtra government has approved a loan guarantee for six Metro projects managed by the Mumbai Metropolitan Region Development Authority (MMRDA), securing continued funding from international financial institutions for ongoing construction. The projects include Metro Lines 5 (Thane-Bhiwandi-Kalyan), 6 (Swami Samarth Nagar-Vikhroli), 9 (Dahisar East-Mira Bhayandar), 10 (Gaimukh-Shivaji Chowk, Mira Road), 11 (Wadala-CSMT), and a 3.3-km underground extension of Metro Line 7 from Gundavali to the international airport via Marol. Many of these projects are either under construction or in advanced planning stages, necessitating significant investment due to their complex elevated and underground structures. This proposal received approval during…

Latest StoriesRegulatory

Delhi HC asks DDA to restore trust with Signature View residents

NEW DELHI: The Delhi High Court highlighted a significant “trust deficit” between the Delhi Development Authority (DDA) and the residents of Signature View Apartments. The court urged the civic agency to take steps to “establish trust” with the residents. The Chief Justice DK Upadhyay and Justice Tushar Rao Gedela addressed the ongoing stalemate where residents have refused to vacate the towers deemed dangerous. They emphasized the need for both parties to seek a resolution and “move ahead” with the completion of the project. The bench stated, “There is a lot of trust deficit. The residents’ concerns are valid. Trust needs…

IndustryLatest Stories

Bengaluru Property Owners Get Relief: B-Khatas Now A-Khatas

In a pivotal decision poised to support numerous property owners in Bengaluru, the Karnataka Cabinet has authorized the regularization of B-Khata properties verified by the Bruhat Bengaluru Mahanagara Palike (BBMP) up to September 30, 2024. These properties will now qualify for A-Khata status, providing much-needed legal clarity and enabling access to vital civic amenities such as electricity and water connections. The announcement was made on Thursday by Law Minister H.K. Patil after the cabinet meeting. He remarked, “This initiative aims to instill discipline in the city’s property development landscape and mitigate illegal constructions.” B-Khatas have historically created legal confusion. Initially…

Latest StoriesResidential

Noida’s Highrise B&Bs Under Scrutiny for Short-Term Rentals

NOIDA: The rise of short-term rentals in high-rise residential areas is raising concerns following complaints about noise, drug use, and unauthorized commercial activities. Officials have stated that properties listed on online platforms are serving as unregistered guesthouses and party venues, often breaching housing and excise regulations. During a recent meeting at the Narco Coordination Centre (NCORD), DM Manish Verma instructed police, excise officials, and other agencies to investigate these properties. “We need to assess the legality of these rentals,” Verma emphasized. “If someone is renting out a flat for just a few days, it must adhere to the Sarai Act.…

InfrastructureLatest Stories

Nagpur fines 4,890 for blocking public spaces with material

NAGPUR: The Nagpur Municipal Corporation (NMC) has intensified its efforts against public space encroachments, taking action against 4,658 individuals and 232 builders over the past six months for unauthorized placement of construction materials on roads, footpaths, and vacant lots. This activity resulted in an average of one to two actions against builders every day from January 1 to June 30, 2025. The civic authority has collected Rs1.16 crore in penalties during this period, targeting builders as well as citizens who left construction debris and materials in public spaces beyond the allowed time. Municipal regulations stipulate that such materials should be…

Latest StoriesRegulatory

Only 1 of 8 City Divisions Provided List of Dilapidated Buildings

MUMBAI: Authorities have shown a lackadaisical approach towards abandoned structures, with only one of the eight city divisions submitting a list of dangerous buildings, and that list lacked thorough verification. The Kalachowki division was the only one to present a list of 248 buildings; however, the audit found that 76 of these had already been demolished, redeveloped, or were in the process of redevelopment. In previous years, the city has experienced collapses of such dilapidated structures, often resulting in fatalities. According to the Mhada Act, the BMC is obligated to provide comprehensive details regarding cess buildings in hazardous or deteriorating…

IndustryLatest Stories

Godrej Properties COO and Mumbai CEO Resign

NEW DELHI: Godrej Properties has announced major leadership changes with the resignations of two senior executives: Vikas Singhal, the Chief Operating Officer, and Priyansh Kapoor, Zonal CEO of the Mumbai Metropolitan Region (MMR). As per the company’s regulatory filing, Kapoor’s resignation will take effect at the close of business on July 18, 2025, and he will be succeeded by Amitesh Shah, who will take on the role of Zonal CEO – MMR from July 19, 2025. Shah has been with the company since 2011 and most recently served as the regional head for MMR 1. Meanwhile, Singhal’s resignation as COO…

InfrastructureLatest Stories

783 CRZ Buildings Notified, 44 Demolished: Maharashtra Minister

MUMBAI: A total of 783 buildings in coastal regulation zone (CRZ) areas across 10 civic wards have been served showcause notices, with 44 structures already demolished, according to state revenue minister Chandrashekhar Bawankule. Some cases are currently in court. A statement presented to the legislative council regarding the forged map scandal, brought to light by citizen Vaibhav Thakur, revealed that the special investigation team (SIT) formed at the request of the Bombay High Court has arrested 23 individuals, with three more still at large. Of those arrested, 12 are private citizens, two are officers, seven are employees, and two are…

IndustryLatest Stories

Prayagraj Highrises to Face Mandatory Safety Audits

PRAYAGRAJ: New regulations are set to enhance the safety of high-rise buildings in the city, making structural safety audits mandatory. Under these guidelines, all buildings taller than 15 meters must undergo a safety audit 10 years after their completion, followed by audits every five years. This initiative comes in response to safety concerns and previous fire incidents in multiple high-rise structures in the area. In the last two decades, many tall buildings have been built in Prayagraj, yet most have never undergone formal safety assessments post-construction. Previously, only a single No Objection Certificate (NOC) from a structural engineer was required…