Category: Latest Stories

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Housing FinanceLatest Stories

NHB Unveils Refinance List to Prevent Misuse

MUMBAI: In a significant move towards transparency, the National Housing Bank (NHB) has released, for the first time, the list of beneficiaries under its refinance scheme. This initiative aims to prevent the misuse of NHB’s name by various lending institutions. This decision follows the exposure of Aviom India Housing Finance, which reportedly used outdated NHB refinance sanction letters, some dating back three to four years, to obtain loans from banks. “The NHB is committed to ensuring such incidents as those involving Aviom do not occur again. By making its refinance list public, it seeks to deter fraudulent entities from leveraging…

InfrastructureLatest Stories

Ludhiana to Build Construction and Demolition Waste Plant

Representative image created by AI LUDHIANA: After years of delays, Ludhiana’s civic authorities have launched a long-awaited construction and demolition (C&D) waste processing plant, aimed at tackling the city’s issue of illegally dumped construction debris. Located in Dhandhari, the facility was inaugurated on Wednesday after an inspection by Municipal Corporation Commissioner Aaditya Dachalwal and senior officials. The project, worth ₹7.39 crore (A$1.3 million), was funded under the Swachh Bharat Mission and the Smart City Mission, and is designed to process up to 100 tonnes of construction waste daily. “This plant will enhance cleanliness throughout the city,” stated Commissioner Dachalwal. “We…

InfrastructureLatest Stories

Chennai’s Third Master Plan Promises City Growth and Height

Representative image created by AI CHENNAI: Residents can soon expect improved proximity to workplaces, more housing choices, and enhanced civic infrastructure. The Chennai Metropolitan Development Authority (CMDA) is developing its third master plan, which will propose increased Floor Space Index (FSI) in key areas, mixed-use developments, and gradual upgrades to support compact, vertical city growth. The upcoming master plan aims to reshape Chennai’s skyline by boosting FSI in strategically identified zones such as metro corridors, entertainment hubs, commercial centers, and industrial zones to encourage vertical development. “We need to optimize urban space. Strategically increasing FSI near metro stations, shopping malls,…

IndustryLatest Stories

Embassy REIT Plans ₹20 Billion Bond Sale, Say Sources

MUMBAI: Embassy Office Parks REIT in India is negotiating with bankers to secure 20 billion rupees ($232.79 million) by issuing five-year corporate bonds, according to three sources familiar with the situation, who asked to remain anonymous due to the private nature of the talks. The firm aims to finalize this funding round by the end of the month. Mutual funds and some insurance companies are expected to show strong interest in the debt sale, as the bonds are rated ‘AAA’ by Crisil. Embassy REIT will approach the bond market for the second time this year, following a successful raise of…

Latest StoriesResidential

Delhi MCD Requests Police Help to Evacuate Signature View Apartments

NEW DELHI: Following recent directives from the Delhi Development Authority (DDA) and the Delhi High Court, the Municipal Corporation of Delhi (MCD) has reached out to Delhi Police to assist in evacuating 336 flats at Signature View Apartments, requesting urgent action. However, a senior police official indicated that no notification had been received so far. After an assessment by IIT Delhi in 2022, the MCD had declared the apartment complex unsafe in 2023. In December 2024, the High Court confirmed the buildings were uninhabitable, mandating their demolition and reconstruction, and ordered immediate evacuation. DDA recently announced that July 31 is…

IndustryLatest Stories

Godrej Properties buys 50 acres in Raipur

Representative image created by AI NEW DELHI: Godrej Properties (GPL) has acquired 50 acres of land in Raipur, which will primarily feature plotted residential units with an estimated saleable area of 9.5 lakh sq ft. Gaurav Pandey, MD & CEO of the company, stated, “This acquisition marks another significant step in our expansion journey as we aim to strengthen our presence in emerging real estate markets across India. It strategically aligns with our goal of entering high-growth cities through plotted developments.” Recently, the company secured an additional 43 acres of land for a plotted development in Sector 40, Panipat, with…

Latest StoriesResidential

Salman Khan Sells Mumbai Apartment for ₹5.35 Crore

NEW DELHI: Salman Khan has sold an apartment in Shiv Asthan Heights, Bandra West, Mumbai, for ₹5.35 crore. The apartment features a built-up area of 1,318 sq ft (122.45 sq meters) and comes with three car parking spaces. The transaction incurred a stamp duty of ₹32.01 lakh and registration charges of ₹30,000, based on the Inspector General of Registration (IGR) documents reviewed by Square Yards. The deal was officially registered in July 2025. Published On Jul 16, 2025 at 03:59 PM IST Join a community of over 2M industry professionals. Subscribe to our newsletter for the latest insights & analysis…

Latest StoriesResidential

Shapoorji Pallonji Plans Residential Project in Bavdhan, Pune

NEW DELHI: Shapoorji Pallonji Real Estate (SPRE) has unveiled its latest residential project, Vanaha Verdant, located within the expansive 1,000-acre integrated township of Vanaha, close to Bavdhan, Pune. The new development spans five acres and will provide around 10 lakh sq ft of saleable area, with a projected revenue potential of ₹800 crore. To date, SPRE has successfully sold over 2,000 apartments valued at ₹1,800 crore across its mid-segment (Yahavi and Springs) and premium offerings (Golfland phase 1 & 2) within the township. Published On Jul 16, 2025 at 11:30 AM IST Join over 2 million industry professionals. Subscribe to…

InfrastructureLatest Stories

Two-Day Consultations on Visakhapatnam Development Plan

VISAKHAPATNAM: The Chairman of the Visakhapatnam Metropolitan Region Development Authority (VMRDA), Pranav Gopal, and Metropolitan Commissioner KS Viswanathan will be at the VMRDA office on July 16 and 17 (Wednesday and Thursday) to gather public feedback on the master plan. This marks the conclusion of a month-long consultation process aimed at receiving objections and suggestions from the public and local representatives regarding the master plan spanning the VMRDA’s jurisdiction, which includes the districts of Anakapalli, Visakhapatnam, and Vizianagaram. Although the initial plan was developed during the YSRCP’s tenure, the new government has opted to revise it due to widespread claims…

IndustryLatest Stories

Lucknow Development Body to E-Auction 50 Plots, 2 Complexes

Representative image created by AI LUCKNOW: The Lucknow Development Authority (LDA) has announced an e-auction for at least 50 residential plots in the Basant Kunj Scheme along with two significant commercial complexes. According to LDA officials, plots of 252 square meters located in Sector-G near Gau Ghat and adjacent to the Green Corridor are being auctioned for the first time. The base price is set at Rs 32,955 per square meter, and the cumulative estimated value of these plots is around Rs 310 crore, as they are situated in a prime residential area. In addition, several high-value properties identified in…