Category: Latest Stories

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InfrastructureLatest Stories

Chandigarh to invest ₹10.25 crore in Manimajra services

CHANDIGARH: The engineering department of the municipal corporation has projected a budget of approximately Rs 10.25 crore for the provision of essential services on a land parcel in Manimajra, intended for auction as a housing society. Of this total, Rs 4.96 crore has been allocated for public health services, Rs 3.32 crore for road construction, Rs 99 lakh for horticulture, and Rs 37 lakh for electrical services. Additionally, Rs 30 lakh has been earmarked for a common duct to accommodate networking lines for multiple utilities. In the public health segment, the engineering department will implement services such as sewerage, stormwater…

Latest StoriesRegulatory

Odisha HC’s Ruling Boosts Real Estate, Safeguards Homebuyers

BHUBANESWAR: Recent orders from the Orissa High Court, largely favoring homebuyers, are poised to transform the real estate landscape in Bhubaneswar. Experts believe this signals a decline in developer monopolies. The court issued a stay on the construction of an access road by a developer for his new project, responding to a plea from an allottee’s association from a major housing initiative at Paikarapur in Kalinga Nagar. The roadwork was reportedly undertaken within the common areas of the existing housing project. The developer was advancing the housing project in phases, a detail withheld from the original project owners. Allegations arose…

IndustryLatest Stories

Keystone Realtors to Redevelop 25 GTB Nagar Buildings

AI-generated Representative Image NEW DELHI: Keystone Realtors has successfully obtained the letter of acceptance (LOA) for redeveloping 25 buildings of Sindhi refugees at Guru Teg Bahadur Nagar (GTB Nagar) in Sion Koliwada, Mumbai, in collaboration with the Maharashtra Housing and Area Development Authority (MHADA). The redevelopment spans approximately 11.19 acres (45,308 sq. meters) and aims to benefit over 1,400 families. This project is expected to generate a saleable area of about 20.7 lakh sq. feet, with a projected gross development value (GDV) of ₹4,521 crore. Boman Irani, Chairman and Managing Director of Keystone Realtors, expressed, “We are honored to receive…

Latest StoriesResidential

Maharashtra Minister: No Zudpi Jungle Homes to Be Demolished

File Photo NAGPUR: Maharashtra’s revenue minister, Chandrashekhar Bawankule, stated that no homes built on shrubland forest (zudpi jungle) areas, which have been taxed by local bodies, will be demolished. He emphasized the importance of this for the dignity and survival of nearly 200,000 families, especially in Vidarbha. Bawankule chaired a meeting at Mantralaya to tackle this ongoing issue, warning revenue and forest department officials against delays in the regularization of these homes. “These individuals have lived on these lands for generations. Gram panchayats and relevant authorities acknowledge their presence, taxes have been collected, and their names appear in the 8A…

Latest StoriesRera

RERA Orders Builder of Expressway Towers to Pay 11% Interest

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has instructed the developer of a high-rise condominium—a budget-friendly housing initiative in Sector 109—to compensate the buyer for delays in possession and to deliver the apartment as stipulated in the purchase agreement. The unit, number 908 in Tower 3 at Expressway Towers 109, was bought for ₹26.26 lakh nine years ago. The builder had promised timely delivery of the 644-square-foot flat, along with a 100-square-foot balcony, but failed to meet the four-year deadline from the allotment date of May 19, 2017. HRera (Gurgaon) ordered the builder to pay interest at an annual…

CommercialLatest Stories

50,000 sq ft Lease at 315Work Ave to METRO in Pune

NEW DELHI: 315Work Avenue, a provider of co-working spaces, has leased 50,000 sq ft to METRO Global Solutions Center (MGSC) at International Tech Park Pune (ITPP), located in Kharadi. The company now operates six centers across 600,000 sq ft in Pune, offering approximately 12,000 seats. In total, it manages a portfolio of three million sq ft, providing around 60,000 seats across 45 locations in Bengaluru, Chennai, Hyderabad, Mumbai, and Pune. ITPP is a grade-A tech park spanning 2.5 million sq ft, developed by Ascendas-Singbridge. Published On Jun 19, 2025 at 12:01 PM IST Join over 2M industry professionals! Subscribe to…

Housing FinanceLatest Stories

Carlyle Group Sells 10.44% Stake in PNB Housing for ₹2,712 Cr

NEW DELHI: Carlyle Group, a global investment firm, has fully exited its stake in PNB Housing Finance by selling its 10.44% ownership for Rs 2,712 crore through open market transactions on Friday. The US-based Carlyle Group, via its affiliate Quality Investment Holdings PCC, sold over 2.71 crore shares of PNB Housing Finance on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Quality Investment Holdings PCC sold over 1.73 crore shares on the NSE while the Carlyle arm disposed of 98.07 lakh shares in eight separate transactions on the BSE. The average price for these transactions was Rs…

InfrastructureLatest Stories

Experts: Pune Airport’s Funnel Zone at Risk from Nearby Constructions

PUNE: Experts in civil aviation are urging increased action against rampant illegal construction activities near Lohegaon airport, warning that the safety of flight operations in the funnel zone may be at risk. Following the Pune Municipal Corporation’s recent crackdown on unauthorized buildings near the airport, experts believe that the response has been inadequate and delayed. An anonymous Indian Air Force (IAF) veteran commented that such extensive construction couldn’t occur without some level of collusion. “This is a significant issue that isn’t getting the attention it deserves. The collaboration between law enforcement, builders, politicians, and aviation officials could be contributing to…

Latest StoriesRegulatory

Builder in Vadodara to Refund Buyer for Delayed Possession

VADODARA: A real estate group in Vadodara has been ordered by the State Consumer Disputes Redressal Commission to refund ₹28.42 lakh to Dr. Nilam Desai and Dr. Rasesh Desai due to the failure to deliver possession of a flat booked in their project. The complainants, represented by advocate Akhil Dave, reported that they booked a flat in the developer’s Vadodara project in 2012, with possession expected by April 2016, as stated in the agreement. They initially paid ₹6 lakh by cheque and the remaining ₹22.42 lakh through a private bank loan. As per the agreement, the loan disbursal was tied…

IndustryLatest Stories

Pune Extends Property Tax Discount Deadline to July 7

PUNE: The Pune Municipal Corporation (PMC) has extended the deadline for property tax payments at discounted rates to July 7, an extension from the original June 30 deadline. According to PMC officials, citizen facilitation centers (CFCs) are available for residents to pay taxes in person. “We have also launched an online payment facility for taxpayer convenience. Property owners are encouraged to pay their taxes on time to avoid last-minute congestion,” stated Avinash Sapkal, head of the property tax department. The PMC offers property owners a 5-10% discount if taxes are paid by May 31. This year, due to delays in…