Category: Latest Stories

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IndustryLatest Stories

CCI Approves PNC Infratech’s Bid for Jaiprakash Associates

Sure! Here’s a rewritten version of the content you provided: — NEW DELHI: The Competition Commission of India (CCI) announced on Tuesday that it has granted initial approval for PNC Infratech’s proposal to acquire the financially troubled Jaiprakash Associates, contingent upon winning the ongoing insolvency bid. The proposal involves PNC Infratech acquiring between 95% to 100% of Jaiprakash Associates Ltd (JAL), either directly or through a wholly-owned subsidiary that may be established for this purpose. The CCI confirmed the acquisition’s approval via a post on X, stating, “Commission approves proposed acquisition of Jaiprakash Associates Ltd by PNC Infratech Ltd.” In…

Latest StoriesResidential

Mahindra Lifespaces to Redevelop Two Chembur Societies

NEW DELHI: Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development branch of the Mahindra Group, is set to redevelop two housing societies in the Diamond Garden area of Chembur, Mumbai. According to Vimalendra Singh, Chief Business Officer (Residential) at the company, “Redevelopment continues to be vital in our growth journey. It allows us to deliver high-quality residential projects to areas with strong demand.” The two societies cover approximately 2.6 acres and 1.8 acres, with a combined gross development potential of around ₹1,700 crore. Published On Sep 17, 2025, at 09:16 AM IST Join 2M+ industry professionals! Subscribe to…

Latest StoriesRegulatory

Orissa HC Rejects LIC’s Flat Cancellation in Bhubaneswar

Orissa High Court CUTTACK: The Orissa High Court has overturned the Life Insurance Corporation of India’s (LIC) decision to revoke flat allotments under its “Policy Holders’ Housing Scheme” at Jeevan Bima Nagar, Chandrasekharpur, Bhubaneswar. The court ordered LIC to finalize the allotment process within eight weeks, contingent on each allottee paying an additional 10% of the original flat cost. The judgment came after reviewing four separate petitions filed by Satyavan K Panda, Dr. Laxmikanta Mishra, Dr. Swapna Kabiraj, and Saktidhar Das from 2015 to 2018. In 2014, a lottery was conducted for 75 flats under Phase-II of LIC’s housing scheme,…

Latest StoriesRegulatory

Chhattisgarh: Builder Must Buy Back Plot at Double Price

RAIPUR: The Chhattisgarh State Consumer Disputes Redressal Commission has directed a builder to repurchase a plot from a consumer at twice its original price, citing unfair trade practices and service deficiencies. In 2015, Dayawati Chauhan acquired a 1,000 sq ft plot through a registered agreement with the builder, which included a buyback clause. This clause stipulated that if she sought to resell the plot after five to five-and-a-half years, the builder would repurchase it at double the purchase price. After the designated period, Chauhan requested the builder to honor the buyback clause, but her request was turned down. Initially, she…

IndustryLatest Stories

Telangana aims for ₹2,000 crore per acre in Raidurg auction

HYDERABAD: Two years ago, the Hyderabad Metropolitan Development Authority (HMDA) made headlines by selling a one-acre plot in Neopolis Phase II in Kokapet for an astounding Rs 100.75 crore, which significantly impacted the real estate landscape in Hyderabad. Currently, the Telangana government aims to achieve a similar success with the auction of two land parcels totaling 18.67 acres in Raidurg Knowledge City. The Telangana State Industrial Infrastructure Corporation (TGIIC) has set an upset price of Rs 101 crore per acre for these prime plots located in Hyderabad’s bustling business and IT zone. This area houses over 100 companies across approximately…

Latest StoriesRegulatory

Homebuyers can’t be denied housing membership due to builder’s default: HC

MUMBAI: The Bombay High Court has ruled that the rights of flat purchasers cannot be limited by a developer’s failure to fulfill obligations under a development agreement. This directive was issued to a housing society in Vile Parle (E), which was ordered to grant membership to 17 flat purchasers. Justice Amit Borkar, in an order on Friday, emphasized that membership in a cooperative society should be determined solely according to the Maharashtra Cooperative Societies Act, MCS Rules, and the society’s bye-laws. He dismissed 17 petitions from Jeevan Sarita CHSL, stating, “The eligibility of a purchaser to become a member must…

CommercialLatest Stories

Raheja Universal Repurchases HQ for ₹211 Crore

Sure! Here’s a rewritten version of the provided content: Representative AI image Realty developer Raheja Universal has reacquired its corporate headquarters, Raheja Centre-Point, located on CST Road near Mumbai’s Bandra-Kurla Complex, for Rs 211 crore. Initially developed by Raheja Universal in 2004, the five-storey commercial building served as their headquarters for 16 years before being sold to HDFC in 2020, which has since merged with HDFC Bank. This sale was part of a broader portfolio realignment strategy. The property has now returned to Raheja Universal following a successful bid during a sale process initiated by HDFC Bank. The latest agreement…

InfrastructureLatest Stories

Kolkata Civic Body Mandates Visitor Parking in Large Projects

Certainly! Here’s a rewritten version of the content you provided: KOLKATA: The Kolkata Municipal Corporation (KMC) has mandated that all residential projects with a built-up area of over 5,000 sq m (approximately 53,000 sq ft) must include parking for visitors. Previously, this requirement applied to projects exceeding 10,000 sq m (100,000 sq ft). To support developers in meeting this requirement affordably, KMC will offer an increased floor area ratio (FAR) to facilitate the construction of additional parking. Of this extra FAR, at least 25% must be allocated for visitor parking. For instance, a project of 50,000 sq ft could potentially…

Latest StoriesRegulatory

DTCP Suspends Project License, Directs FIR Against Company Directors

GURUGRAM: The district town planner (enforcement) has suspended the development license of Prime Time Infraproject for its 10.9-acre residential colony in Sector 1, Pataudi. This license, originally issued on October 22, 2013, was officially suspended on February 4 due to the developer’s alleged non-compliance with directives and failure to respond to show-cause notices. The DTCP decided on the suspension after the developers consistently missed project deadlines and breached bilateral agreements. Sub-registrar Pataudi has been instructed to halt all registrations of sale deeds, conveyance deeds, and lease agreements related to the project. Additionally, red entries have been made in the revenue…

CommercialLatest Stories

Government Approves 300-Acre Phase III Campus for Infopark

KOCHI: In a significant boost for Kochi’s IT sector, the state government has given in-principle approval for the establishment of the Infopark Phase III campus, which will span over 300 acres in the Kunnathunadu taluk. The proposal for the third campus was made by Infopark, as the first two phases are currently operating at full capacity. Discussions for land pooling driven by the Greater Cochin Development Authority (GCDA) were initiated; however, progress was hampered due to awaiting necessary clearances from the IT department. According to an order from the Electronics and Information Technology Department, “in-principle approval has been granted to…