Category: Latest Stories

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InfrastructureLatest Stories

Nagpur Residents Lose Sleep to Construction Noises

Representative AI Image NAGPUR: While Nagpur’s skyline is rapidly evolving, so too are the levels of noise pollution. Citizens face challenges as construction noise permeates from residential areas to bustling commercial districts, disrupting their ability to live, study, or rest. The incessant sounds of drilling, hammering, and scraping have turned unbearable for residents, students, seniors, and even young adults. From dawn until dusk, residents are plagued by the clamor of metal striking metal, cement mixers roaring, and heavy machinery rumbling. Work often starts at 6 am and can extend until 10 or even 11 pm, leaving almost no respite from…

Latest StoriesRegulatory

Calcutta HC: Auction Buyers Must Pay Property Tax Dues

KOLKATA: The Calcutta High Court ruled on September 25 that auction purchasers must cover the property tax liabilities of previous owners. This decision arose when a company requested a waiver for outstanding property taxes amounting to Rs 1,23,84,142, which the KMC deemed unacceptable for mutation. Justice Gaurang Kanth indicated that the auction purchaser holds the responsibility for the property’s tax arrears, stating, “The petitioner, being the auction purchaser, is obliged to settle the outstanding property tax dues. The sale notice and expression of interest (EOI) highlighted that all bidders should conduct their own investigations and due diligence before bidding.” The…

IndustryLatest Stories

Builders Seek RERA Clarity as Andhra Pradesh Real Estate Revives

VIJAYAWADA: The real estate sector in Andhra Pradesh is experiencing a resurgence, with developers eager for the Real Estate Regulatory Authority (Rera) to enhance transparency and protect the interests of homebuyers and builders alike. Recent months have seen a surge in construction activity, especially in urban areas, fueled by improved infrastructure and rising investor confidence. According to guidelines, all housing projects must register with Rera prior to construction commencement. Authorities have indicated that non-compliance will lead to significant penalties, a move designed to protect buyers from misleading promotions while ensuring that developers adhere to approved plans and timelines. Several ongoing…

Latest StoriesRegulatory

Bombay HC: CIDCO’s 22.5% land return scheme is optional

In a landmark ruling that could have significant repercussions for land acquisition in Navi Mumbai and beyond, the Bombay High Court has determined that the City and Industrial Development Corporation’s (CIDCO) 22.5% developed land return scheme is optional, rather than mandatory for landowners. If landowners do not consent to the acquisition under this scheme, CIDCO or any authority seeking land for public use must adhere to the procedures outlined in the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (LARR) Act, 2013, and Section 126 of the Maharashtra Regional and Town Planning (MRTP) Act. According to…

IndustryLatest Stories

Maharashtra: Only 31% Builder Recovery Warrants Executed, Buyers Upset

PUNE: Homebuyers across Maharashtra are expressing their dissatisfaction with the slow progress on recovery warrants issued against non-compliant builders by MahaRERA, with only 31% of cases resolved to date. Despite a directive from the state government to hasten the process, officials revealed that only ₹243 crore has been recovered from the ₹760 crore owed in 1,212 cases. The slow recovery stands in stark contrast to revenue minister Chandrashekhar Bawankule’s promise during the state budget session to eliminate the backlog within three months. Recovery warrants, issued under Section 40(1) of the Real Estate (Regulation and Development) Act (RERA), authorize district administrations…

Latest StoriesRera

Consumer Groups Ask MahaRERA to Regulate Real Estate Influencers

PUNE: Consumer advocacy groups are urging MahaRERA to impose regulatory oversight on real estate influencers. These influencers, active across diverse platforms, often promote housing projects without verifying their registration numbers on the Maharashtra Real Estate Regulatory Authority (MahaRERA) portal, potentially misleading prospective homebuyers. Neha Patil, a homebuyer from Navi Mumbai, shared her experience: “I watched a walkthrough of a project on social media by an influencer. It appeared flawless. However, when I checked the MahaRERA portal, there was no registration number. That raised a red flag.” She noted that many potential buyers are unaware of the necessity to check these…

IndustryLatest Stories

Mahindra Logistics Secures 4.75 Lakh Sq Ft Warehouse in Kolkata

Mahindra Logistics Ltd, part of the Mahindra Group’s logistics and supply chain services, has secured over 4.75 lakh sq ft of warehousing space in Howrah district, near Kolkata, through a long-term lease. This transaction is one of the largest logistics leases in eastern India in recent years. The new lease agreement is for a warehouse in Subharara, Howrah, commencing on April 1, 2025, with a duration of 9 years and 9 months. The monthly rental cost for the space is Rs 97.72 lakh, equating to Rs 20.60 per sq ft. Additionally, a security deposit of Rs 2.93 crore is included,…

Latest StoriesResidential

Mumbai civic body plans first independent online lottery for flats

Representative Images MUMBAI: For the first time, the BMC will independently conduct an online lottery for the sale of 426 homes across the city, with anticipated revenues of approximately Rs 308 crore. The flats, priced between Rs 55 lakh and Rs 1 crore, are situated in areas such as Kandivli, Bhandup, Byculla, Kanjurmarg, Jogeshwari, and Goregaon. These homes will exclusively be available for applicants from the Economically Weaker Section (EWS) and Low-Income Group (LIG). The BMC obtained these tenements under Regulation 15 of the Development Control and Promotion Regulations (DCPR) 2034, which requires that developers allocate a portion of residential…

Latest StoriesRera

H-RERA Adds Member to Restore Quorum for Faster Case Disposal in Gurugram

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has fully restored its quorum with the addition of a new member. Recently, the Gurgaon bench of HRera appointed Phool Singh Saini, completing its four-member team. This change is expected to expedite the resolution of complaints from homebuyers, according to an official statement from the Authority. Saini’s appointment fills the position left by the retirement of SK Arora in August 2024, thus reinstating the full quorum with chairman Arun Kumar, and members Ashok Sangwan, VK Goel, alongside Saini. With over two decades of judicial experience in Haryana, Saini is anticipated to enhance…

CommercialLatest Stories

Kerala Fast-Tracks Land Finalization for IT Corridor

THIRUVANANTHAPURAM: The state government is set to finalize land parcels for several IT parks along the proposed Thiruvananthapuram-Kollam IT corridor within the next two months. The corridor, stretching from Technopark Phase III to Kollam alongside the under-construction NH 66, aims to become a new growth hub for the region’s technology ecosystem. Seeram Sambasiva Rao, the special secretary for electronics and IT, confirmed that verification of the identified land is underway and discussions are ongoing. “The process is moving quickly. We will soon finalize the land parcels for the project,” he stated to TOI, highlighting that land acquisition will commence immediately…