Category: Latest Stories

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Housing FinanceLatest Stories

Bank of Baroda Slashes Home Loan Rates by 40 bps for New Borrowers

Bank of Baroda has cut its home loan interest rates by 40 basis points for new applicants. The starting rate is now 8.00% per annum, down from the previous 8.40%. The adjusted rates, which depend on a borrower’s credit score, are available for new home loans and home improvement loans. Loans of ₹15 lakh and higher qualify for the updated rates, as announced in the bank’s press release. Additionally, the bank is providing a 0.05% per annum concession for female borrowers and a 0.10% reduction for those under 40 years old on new properties and home loan transfers. The bank…

InfrastructureLatest Stories

Ludhiana Identifies Over 150 Unsafe Buildings

LUDHIANA: The town planning department has completed a new survey identifying 159 unsafe buildings across the city, covering all four zones. Officials have compiled a list and issued notices to the owners of these properties. The survey indicates that Zone D has the highest number of unsafe buildings at 55, while Zone A, which includes the old city, has 48. Zones B and C follow with 21 and 35 unsafe buildings, respectively. Comparatively, a 2021 survey showed Zone A had 64 unsafe buildings, with Zones B, C, and D reporting 21, 38, and 33 unsafe buildings, respectively. An official noted…

Latest StoriesRegulatory

Noida Authority Denies Max Estates’ ₹67 Crore Waiver Request

AI-generated Representative Image NOIDA: The Noida Authority has denied a request from Max Estates Ltd to eliminate constitution change charges (CIC) amounting to approximately Rs 67 crore related to the acquisition of the halted Delhi One project in Sector 16B. These charges arise from a comprehensive shareholding shift due to insolvency proceedings and are part of the Authority’s updated unified policy announced in February. Initially, Max sought a total waiver of the CIC but later revised its proposal to pay Rs 22 crore—around 40% of the assessed fees—into an interest-bearing account under certain conditions. The Authority, however, maintained that the…

IndustryLatest Stories

Kalpataru Shares Debut Flat, Surge Over 9% Later

NEW DELHI: Shares of real estate developer Kalpataru Ltd had a flat debut on Tuesday, opening at the issue price of Rs 414 but later rallied by over 9%. The stock began trading at Rs 414.10 on the BSE and gained momentum, increasing by 9.42% to reach Rs 453. On the NSE, it was listed at Rs 414, before climbing 9.37% to Rs 452.80. The company had a market valuation of Rs 9,121.99 crore in early trading. Kalpataru Ltd’s initial public offering (IPO) was subscribed 2.26 times by the end of bidding last Thursday. The IPO’s price band was set…

Latest StoriesResidential

Delhi: 800+ Flats Sold in One Month Under Apna Ghar

NEW DELHI: The Delhi Development Authority (DDA) has successfully sold 830 flats within a month of launching the Apna Ghar Awaas Yojana 2025, with 630, or 75%, of the units located in Narela. Officials reported that 150 flats were sold in Loknayakpuram and 50 in Siraspur. “The scheme’s impressive progress is particularly noticeable in Narela, where all 115 EWS flats in Sector A1 A4 were sold out. Moreover, the MIG flats in Loknayakpuram are nearly fully booked,” an official stated. This initiative presents ready-to-move-in homes at discounted prices across several categories, including those for economically weaker sections (EWS), low-income groups…

Latest StoriesRera

Odisha RERA Asks Developers to Update Project Info Online

BHUBANESWAR: To keep homebuyers informed, the Odisha Real Estate Regulatory Authority (ORERA) has mandated that all registered developers upload and regularly update information regarding their housing and plotting projects on the new ORERA 2.0 website. The newly launched website serves as a comprehensive platform for homebuyers, allowing them to easily access the latest information about the projects in which they have invested their money. In a letter sent to developers, ORERA requested that they update essential details of their projects, such as construction milestones, booking statuses of available units, and specifics about site engineers and architects involved. ORERA has also…

CommercialLatest Stories

Innov8 Sells 3% Stake for ₹1,000 Crore to Boost Co-Working Expansion

NEW DELHI: Innov8, a co-working firm owned by OYO, has sold a 3% stake to investors at a valuation of ₹1,000 crore to fuel its expansion in response to the growing demand for flexible workspaces, according to sources. Raymond Family Office has emerged as the primary investor, acquiring nearly 2% of the shares. OYO Group, the parent company, has chosen not to comment on the matter. Earlier this year, Innov8 raised ₹110 crore from various investors, diluting 10% of its equity to esteemed investors, including the family offices of Gauri Khan, Mankind Pharma, Rupa Group, and Jagruti Dalmia. Founded in…

Housing FinanceLatest Stories

Sundaram Home Finance to raise ₹6,000 crore in FY26

Representative image CHENNAI: Sundaram Home Finance has announced its intention to raise over Rs 6,000 crore to enhance its growth in the current financial year. The funding will be achieved through various means including refinancing from NHB, bank loans, debentures, and fixed deposits, as stated by an official. Sundaram Home Finance reported a 26% increase in net profit for the January-March 2025 quarter, reaching Rs 71.57 crore compared to Rs 56.80 crore in the same quarter of the previous financial year. Disbursements in the reviewed quarter amounted to Rs 1,929 crore, up from Rs 1,469 crore in the previous year’s…

InfrastructureLatest Stories

Ludhiana to Soon Inaugurate Construction Waste Plant

Representative Image LUDHIANA: Several highly anticipated projects by the civic body are set for inauguration and will soon be accessible to the public. The all-weather swimming pool and the construction and demolition waste plant have been completed, while the basketball court is nearing its finish. Officials anticipate that the remaining work will take another week. The construction and demolition (C&D) waste plant located in Dhandhari was originally part of the Smart City Mission but later transitioned to the Swachh Bharat Mission due to rising costs and structural changes. Initially budgeted at Rs 2.69 crore, the project faced challenges when the…

Latest StoriesRegulatory

Ghaziabad Reverses Property Tax Increase

GHAZIABAD: The Ghaziabad Municipal Corporation (GMC) board has repealed its earlier decision to increase property tax in the city. The new tax structure, which took effect on April 1 this year, faced significant backlash from Resident Welfare Associations (RWAs) and business groups, prompting councillors to urge the board to reconsider its stance. Mayor Sunita Dayal convened a special board meeting to address the matter. Following a spirited discussion, the board ultimately decided to rescind the tax hike. Notable figures in attendance included Ghaziabad MP Atul Garg and MLAs Sunil Sharma, Sanjeev Sharma, and Ajitpal Tyagi. Dayal stated, “The increased property…