Category: Latest Stories

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InfrastructureLatest Stories

Delhi CM convenes meeting to review Master Plan 2041

File Photo NEW DELHI: Delhi Chief Minister Rekha Gupta has called a high-level meeting on Monday to assess the provisions of the long-awaited Master Plan for Delhi (MPD) 2041, according to officials. The Delhi Development Authority (DDA) submitted the draft plan to the Centre in April 2023, but it has yet to receive approval from the Union Ministry of Housing and Urban Affairs. Sources indicate that the DDA vice-chairman will present a comprehensive overview of the draft to the chief minister and other senior officials, including heads of departments related to industries, environment, and revenue. The meeting aims to concentrate…

IndustryLatest Stories

Rampant Building Violations Unchecked in Bengaluru Due to Resource Gaps

By Sanjana CS BENGALURU: Cooke Town has experienced a notable rise in blatant building violations over the last decade. Builders often disregard regulations, removing mandatory setbacks and constructing extra floors without the necessary permissions. Despite the Supreme Court providing clear guidelines to mitigate illegal constructions, the Bruhat Bengaluru Mahanagara Palike (BBMP) shows little willingness to enforce action against these violations. “In Cooke Town alone, 26 buildings have been flagged as severe offenders, yet only one has faced any form of action, and that was merely a token effort,” states resident Raja Shanmugam. The only building that encountered repercussions had added…

Latest StoriesRera

Complaint Filed Against Karnataka-RERA Over Delayed Resolution

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA), mandated to ensure transparency and accountability in property transactions to safeguard home buyers, is facing criticism. Several purchasers are voicing their dissatisfaction with the authority’s operations, leading one distressed buyer to file a complaint with the Karnataka State Human Rights Commission (KSHRC). Dhananjaya Padmanabhachar, a resident of Sobha Arena Apartment in Thalaghattapura, lodged the complaint due to K-RERA’s alleged procrastination in issuing an order related to his case concerning deficiencies in the Sobha Arena Project. In his grievance, Padmanabhachar mentioned being a buyer of a unit in the Sobha Arena Apartments. “I…

Latest StoriesRegulatory

Odisha Builder Arrested in ₹5 Crore Land Scam

BERHAMPUR: Odisha Police arrested a 43-year-old realtor in the Ganjam district for allegedly defrauding nearly 200 individuals of over Rs 5 crore under the guise of allotting residential plots, officials reported on Sunday. The accused, Chetan Kumar Choudhury, is the son of a former president of the district’s Congress unit. According to police reports, Choudhury, residing in Gosaninuagaon, Berhampur city, collected monthly installments from buyers via his office staff since August 2019, promising to allot plots by September 2021. However, as the promised date arrived, when investors sought their plots, Choudhury allegedly denied any responsibility, claiming the receipts were fraudulent…

Latest StoriesResidential

Maharashtra Property Registrations Steady Amid RR Rate Hike

PUNE: Property registrations in Maharashtra have remained consistent, with an average of 3.7 lakh registrations monthly during the first quarter of this financial year, despite the ready reckoner (RR) rate increase implemented on April 1. Monthly revenue collections exceeded Rs 4,000 crore in both May and June. Officials attribute this stability to persistent demand, even with rising transaction costs due to adjusted property valuations. The RR rate hike, averaging 3.9% across various categories, raised concerns among developers and buyers about a potential decline in demand. However, the consistent registration figures indicate that the market has adapted well without notable disruptions.…

IndustryLatest Stories

Raw Material Shortage Halts Projects in Dakshina Kannada

Representative image created by AI MANGALURU: A significant shortage of sand and laterite stones in Dakshina Kannada is causing delays in numerous real estate projects, jeopardizing thousands of jobs. Developers report dwindling supplies, with some halting plastering work altogether. The real estate sector, which relies heavily on skilled and unskilled labor, is feeling the pinch. Naveen Cardoza, MD of Marian Projects Private Limited, indicated that his two ongoing projects have been hampered by the shortage. “It’s been 45 days without any supplies. It’s impossible to continue work without raw materials. If the situation deteriorates, all builders will face project stoppages,”…

IndustryLatest Stories

Telangana Secures ₹1,500 Cr for Indiramma Housing Scheme

HYDERABAD: The ongoing Indiramma housing scheme in urban Telangana received a significant boost as the Central government approved 1.13 lakh housing units under the Pradhan Mantri Awas Yojana (PMAY-Urban 2.0). This approval translates to nearly Rs 1,500 crore in Central funding for the state. A senior official in the housing department informed TOI that Telangana ranks first among Indian states in receiving a Rs 1,500 crore allocation for housing under PMAY-Urban 2.0. Notably, even Bihar, which is heading into elections, has not received such a substantial sanction, nor have BJP-ruled states like Uttar Pradesh or Gujarat. Chief Minister A. Revanth…

IndustryLatest Stories

Private Equity in Indian Real Estate Rises 38% to $2.4B H1 2025

NEW DELHI: Private equity (PE) investments in the Indian real estate sector surged to USD 2.4 billion (₹203 billion) in the first half (H1) of 2025, representing a 38% year-on-year (YoY) increase, according to Savills India. The pace quickened in the April–June quarter (Q2 2025), with inflows doubling to USD 1.6 billion (₹139 billion). This rise was supported by strong demand for commercial office spaces, hospitality, and alternative segments such as student housing. “There’s a clear strategic shift towards diversifying portfolios, with investors increasingly eyeing retail, hospitality, and student housing segments. This trend reflects the market’s maturity and resilience,” stated…

Latest StoriesRera

Maharashtra RERA Halts Details of Project in Abeyance

MUMBAI: Home buyers and advocates are facing challenges accessing information on projects currently suspended on the MahaRERA website. Upon attempting to retrieve project details, they encounter a message indicating the project is in abeyance and that associated bank accounts are frozen. Critical information including completion dates, occupancy certificates, approval status, and previous orders is unavailable to home buyers. Advocates argue that without public access to important documents like Form 4, project approvals, and historical MahaRERA or appellate orders, home buyers may struggle to seek legal remedies. Nonetheless, MahaRERA representatives stated that home buyers can request project information directly via email.…

Latest StoriesRegulatory

ED Seizes ₹762 Crore in PACL Assets

NEW DELHI: The Enforcement Directorate (ED) announced on Saturday that it has attached assets valued at over Rs 762 crore belonging to PACL (Pearls Group) and its promoters under the anti-money laundering law. This action relates to an alleged Ponzi scheme that swindled investors out of approximately Rs 48,000 crore. A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued to seize 68 immovable properties located across Punjab, Haryana, Delhi, Maharashtra, and Australia. This money-laundering investigation dates back to 2015 and originated from a Central Bureau of Investigation (CBI) FIR against Pearl Agrotech Corporation Limited (PACL),…