Category: Latest Stories

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Latest StoriesResidential

Yashwant Singh Purchases ₹100 Crore Bungalow in South Delhi

AI-generated Representative Image Yashwant Singh, a member of a royal family in Rajasthan, has acquired an 867-square-meter bungalow in South Delhi’s Golf Links for ₹100 crore. He paid ₹7 crore in stamp duty and corporation tax, according to documents from CRE Matrix, a real estate data analytics firm. The property was sold by Anu Jindal, a resident of DLF The Camellias. Jindal’s husband, Jai P. Jindal, who leads an art glass business, confirmed the sale, stating they intend to relocate to The Camellias. According to Jindal, the buyer belongs to a royal lineage from Alwar and also owns a bungalow…

Latest StoriesRegulatory

Clear ₹118 Crore Dues This Month or Project Canceled: YEIDA

NOIDA: The Yamuna Expressway Industrial Development Authority has set a final deadline for Greenbay Infrastructure to pay its outstanding dues of ₹118 crore by the end of July. If the payment is not made, the allotment of land for a 100-acre township in Sector 22D will be canceled. YEIDA officials stated on Friday that this represents the developer’s last opportunity to settle their debts, following a previous deadline of June 30. Last month, Greenbay requested an extension of two months for the payment, citing difficulties in obtaining full land possession. According to YEIDA’s latest notice, “If Greenbay Infrastructure does not…

IndustryLatest Stories

West Bengal to Allocate 20 Acres in New Town for Development

AI-generated Representative Image KOLKATA: The Bengal government plans to release approximately 20 acres of land in New Town Action Areas II and III for various purposes including residential, commercial, and mixed-use developments. HIDCO will auction these parcels via e-auction next month. Two plots of 4.1 acres each in Action Area II and three additional plots measuring 7.3 acres, 3.2 acres, and 0.6 acres in Action Area III have been earmarked for this initiative. The starting bid for the 7.3-acre parcel is set at Rs 292.2 crore, while the smallest 0.6-acre plot starts at Rs 26 crore. Officials noted that New…

Latest StoriesResidential

Karnataka Homebuyers Urge Action on Property Delays

BENGALURU: The Karnataka Home Buyers Forum has presented a memorandum to Chief Secretary Shalini Rajneesh, urging the state government to address long-standing issues that impact countless homeowners, particularly concerning ownership rights and regulatory gaps. “We want to highlight that homebuyers in Karnataka face significant challenges in asserting their ownership rights,” reads the memorandum. The forum detailed key obstacles and proposed solutions for the Chief Secretary’s consideration, advocating for the interests of millions affected. One major issue raised is the Bruhat Bengaluru Mahanagara Palike’s (BBMP) failure to update khata mutation records for apartment owners. Despite having registered their flats, many owners…

Latest StoriesRegulatory

Delhi Consumer Commission Finds DLF Gayatri Developers Liable

NEW DELHI: The Delhi State Consumer Disputes Redressal Commission has ruled that DLF Gayatri Developers is responsible for the delays in their housing project and for retaining the complainant’s funds for an extended period. The panel, headed by presiding member Bimla Kumari, ordered a refund of ₹15 lakh along with compensation for mental distress and legal costs totaling ₹1.5 lakh. The commission noted that the company had no right to utilize or withhold the complainant’s money, underscoring that the developer was obligated to secure labor for project completion. The commission observed that the complainant had paid approximately 75% of the…

InfrastructureLatest Stories

No separate body for merged areas, says Maharashtra minister

PUNE: On Thursday, State Industries Minister Uday Samant stated that there is “no immediate plan” to establish a separate municipal corporation for newly merged areas, as the state government is allocating funds for their development. Samant emphasized that the Pune Municipal Corporation (PMC) is providing sufficient funds for the development of these regions. The drafting of a development plan for the 23 merged areas is currently in progress, with approximately Rs 250 crore assigned for water supply projects and Rs 130 crore allocated for drainage works. PMC has also committed Rs 160 crore towards road development. “The government is dedicated…

Latest StoriesRegulatory

Punjab & Haryana HC Chief Justice Steps Down from M3M Case

Punjab and Haryana High Court CHANDIGARH: Chief Justice Sheel Nagu of the Punjab and Haryana High Court has recused himself from a plea aimed at quashing a corruption case against real estate developer Roop Bansal. On April 17, 2023, Bansal, director of M3M real estate, filed a petition against an FIR registered by the Haryana Anti-Corruption Bureau under the Prevention of Corruption Act in Panchkula. During a hearing on July 3, the Chief Justice questioned the petitioner’s counsel regarding any objections to his involvement after the matter was withdrawn from a single judge’s review. The counsel indicated that their client…

InfrastructureLatest Stories

Pune Cuts Water Connections to Dilapidated Wadas

PUNE: The Pune Municipal Corporation (PMC) has begun severing water connections to dilapidated wadas in the peth areas, where occupants are refusing to vacate despite multiple warnings about the unsafe conditions. The PMC has pinpointed 37 such properties for action and has requested police assistance to enforce mandatory evacuations. According to a senior PMC official, notifications have also been sent to Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) regarding the electricity connections to these wadas. Data from officials indicate that the PMC and the fire department register about 40-45 cases annually of wadas suffering damage or collapsing, particularly during the…

InfrastructureLatest Stories

Nashik to Establish Urban Design Cell for Better City Planning

Nashik’s New Urban Design Initiative NASHIK: In an effort to enhance the city’s infrastructure and environment, the municipal corporation has announced the establishment of a new urban design cell. This initiative aims to uphold Nashik’s aesthetic values while improving urban planning and design. The cell will focus on various urban development aspects, including mapping infrastructure, promoting walkability, and creating plans for better urban spaces. Climate action will be a key component of this initiative. The urban design cell will be led by Municipal Commissioner Manisha Khatri and will include notable members such as: The Deputy Director of Town Planning City…

InfrastructureLatest Stories

Andhra Pradesh Issues Guidelines for Land Pooling Scheme II

AI-generated Representative Image VIJAYAWADA: In a bold initiative, the state government is set to acquire an additional 40,000 to 45,000 acres for the construction of the capital city by introducing the guidelines for Land Pooling Scheme-II (LPS). Prior consultations have been held in Tadikonda and Pedakurapadu constituencies to facilitate the implementation of LPS-II, laying the foundation for an official launch. The government is also exploring options for acquiring further land to establish an international airport, a sports city, and smart industrial zones. Despite concerns from farmers who previously ceded their land in the first phase of LPS around a decade…