Category: Latest Stories

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Latest StoriesRera

Punjab RERA Stops Motiaz from Selling Flats

MOHALI: The Real Estate Regulatory Authority (RERA), Punjab, has prohibited the Chandigarh-based builder Motiaz from advertising, marketing, booking, or allotting flats in its project ‘The Royale Sector 39 Extension’ located in Mohali. RERA Punjab chairman Rakesh Kumar Goyal issued an interim order after the developer failed to appear before the Authority despite numerous notices. The project, which has been promoted widely—including as an exclusive society for judges—has not been registered with RERA, violating Section 3 of the RERA Act. According to the complainant’s attorney, Mohit Uppal, the developer had been advertising and selling units without the required registration and had…

IndustryLatest Stories

U.P. Grants 14-Year Waiver for Sunworld City Township

Representative image created by AI NOIDA: The Uttar Pradesh government has instructed the Yamuna Expressway Industrial Development Authority (YEIDA) to provide a 14-year ‘zero period’ waiver for Sunworld City’s stalled township project in Sector 22D. This decision follows revelations that approximately 20 acres allocated for the development were never acquired when YEIDA transferred the land to the developer in 2011. The state’s industrial development department, which reviewed a petition from Sunworld City Pvt Ltd, directed YEIDA to waive not just the penal interest but also the extension charges and related dues for the 20 acres from 2011 to the present.…

Latest StoriesRera

Telangana RERA Penalizes Ashritha Group for Jubilee Hills Violations

HYDERABAD: The Telangana Real Estate Regulatory Authority (TG RERA) has ordered the Ashritha Group, located in Jubilee Hills, to register two residential flats to homebuyers, alongside imposing a ₹3 lakh penalty for breaching statutory obligations under the Real Estate (Regulation and Development) Act. This directive follows complaints lodged by two Miyapur residents, Srinivasulu Bode and C. Malleswari Nandireddy, who entered sale agreements in 2021 for two flats within ‘Jewels County,’ a residential project approved by HMDA and registered with RERA. The complainants alleged that the builder did not adhere to the terms of the agreement, issued retracted payment receipts, and…

IndustryLatest Stories

Property Tax Suspension Continues in Pune Merger Areas

PUNE: Madhuri Misal, the Minister of Urban Development, clarified on Tuesday that there has been no coercive tax collection from residents in areas merged into the Pune Municipal Corporation (PMC) territory, and this process has been temporarily halted. Misal was responding to queries from Khadakwasla MLA Bhimrao Tapkir, who expressed concerns about the proposed property tax structure. Tapkir noted that the new rates set by PMC significantly exceed the previous panchayat fees, leading to dissatisfaction among locals. Furthermore, some residents reported receiving inaccurate and inflated tax bills. Misal assured that there were no mandatory compliance measures from the administration; some…

Latest StoriesRera

Telangana RERA penalizes BhuvanTeza for unregistered sales

HYDERABAD: The Telangana Real Estate Regulatory Authority (TG RERA) has imposed a penalty of ₹6.45 lakh on BhuvanTeza Infra Projects, located in Banjara Hills, for not registering their residential project ‘Happy Homes-1’ in Shamirpet. The project was marketed and sold without the required registration under Section 3 of the Real Estate (Regulation and Development) Act, between 2020 and 2023. The complaint was lodged by Appam Kiran Kumar and three others, who were buyers in the proposed apartment scheme. The buyers argued that the project was aggressively promoted during its pre-launch phase, with promotional materials, site plans, and verbal assurances of…

InfrastructureLatest Stories

Karnataka CM Halts Land Acquisition for Aerospace Park

The Chief Minister of Karnataka, Siddaramaiah, announced on Tuesday that the government will not proceed with plans to acquire land near Bengaluru’s international airport for an aerospace park, effectively putting an end to a three-year-long protest by farmers. Farmers from several villages in Devanahalli taluk have been demonstrating against the acquisition of their agricultural lands for industrial development. After extensive discussions with farmer leaders, the CM mentioned that the government is open to purchasing land from farmers willing to sell, offering higher compensation than the market value or a greater share of developed land as trade. Officials stated that these…

Latest StoriesRegulatory

Court Directs Handover of Parkview Residences to RWA

MOHALI: In a significant victory for the residents of Parkview Residences, Bestech, Sector 66, the Subdivisional Magistrate Court in Mohali has ordered the developer to transfer all maintenance responsibilities to the Resident Welfare Association (PVRAOWA) by July 23. The final ruling, issued by SDM Damandeep Kaur, concludes a lengthy legal dispute between the RWA and developers M/s Globus Projects Ltd. and Bestech India Pvt. Ltd. Despite selling all units, the developers had been managing the society through their agency, Park View Facilities Pvt Ltd, without the residents’ approval. Established under the Punjab Apartment Ownership Act, 1995, and registered on July…

IndustryLatest Stories

Commercial assets make up 62% of ₹6,500 crore Q2 2025 deals

Sure! Here’s a rewritten version of the content: NEW DELHI: The real estate market in India experienced a notable decline in activity during Q2 2025, with total deal value decreasing by 35% quarter-on-quarter to USD 775 million, despite continued institutional interest in commercial properties and structured investments, as highlighted in a report by Grant Thornton Bharat. During this quarter, 17 deals were recorded, a drop from 28 in Q1 2025, resulting in a 39% decline in overall transactions. Nonetheless, the quarter was supported by a few significant transactions that accounted for over 90% of the total deal value. The standout…

IndustryLatest Stories

Union Home Minister Leads Meeting on Delhi Master Plan 2041

NEW DELHI: On Tuesday, Union Home Minister Amit Shah led a high-level meeting to assess the Delhi Master Plan 2041 (MPD-2041), which included key figures such as Delhi Chief Minister Rekha Gupta and Union Minister Manohar Lal Khattar. Also present was Delhi’s Home and Urban Development Minister Ashish Sood, and this meeting follows a review session held the previous day at the Delhi Secretariat focused on the MPD-2041’s provisions. The Delhi Development Authority (DDA) submitted a draft of the master plan to the Union Ministry of Housing and Urban Affairs in April 2023. The plan is currently pending final approval.…

IndustryLatest Stories

PropShare Titania SM REIT Files ₹473 Crore Offer

NEW DELHI: Property Share Investment Trust (SM REIT) has submitted crucial information regarding their second scheme, PropShare Titania, aggregating up to ₹473 crore. The bidding period will commence on July 21, 2025, and conclude on July 25, 2025. The price range for each Titania unit is set between ₹10 lakh and ₹10.6 lakh. Investors can bid for a minimum of one Titania unit, with subsequent bids in multiples of one unit, at a minimum investment of ₹10,00,000. The IPO consists solely of a fresh issue of Titania units, with no component for sale. Property Share will contribute a minimum of…