Category: Latest Stories

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CommercialLatest Stories

NBCC Partners with NMRDA to Develop Naveen Nagpur

NEW DELHI: NBCC (India) has entered into a memorandum of understanding (MoU) with the Nagpur Metropolitan Region Development Authority (NMRDA) to develop Naveen Nagpur, envisioned as the International Business & Finance Center (IBFC) in the metropolitan area. Naveen Nagpur will encompass approximately 1,710 acres (692 hectares), with the business district occupying about 1,000 acres and leaving 710 acres for future growth. The initiative aims to establish commercial facilities for startups, MSMEs, IT firms, and offices, alongside residential and mixed-use projects. NBCC has been designated as the project management consultant for the 1,000 acres earmarked for the business district. The execution…

IndustryLatest Stories

Godrej’s Masterplan for 1,000 Acres in Vikhroli

Representative Image MUMBAI: The Godrej Enterprise Group, a major landholder in Mumbai, is developing a comprehensive master plan for its 1,000-acre parcel located in suburban Vikhroli, as confirmed by a senior executive on Tuesday. Jamshyd Godrej and his sister Smita Crishna, who oversee the group, have shifted some manufacturing operations from this site but will continue production at Vikhroli, noted GEG’s Executive Director Nyrika Holkar during a press briefing. “We will maintain manufacturing activities in Vikhroli, and we are currently undertaking a master planning exercise to ensure systematic development over time,” Holkar stated. As Holkar explained, the land is primarily…

Latest StoriesRegulatory

ED seizes ₹186 crore in bank fraud case involving DHFL

NEW DELHI: The Enforcement Directorate (ED) has provisionally attached assets worth approximately Rs 186 crore under the anti-money laundering law related to a bank loan fraud case against Dewan Housing Finance Corporation Ltd (DHFL) and its promoters. The attached assets, under the Prevention of Money Laundering Act (PMLA), include 154 flats and movable assets representing receivables tied to 20 flats in Mumbai, according to an agency statement. The total value of the seized properties stands at Rs 185.84 crore. The order, issued by the Mumbai zonal office of the ED, was dated September 5. The investigation stems from a CBI…

IndustryLatest Stories

RLDA Seeks Bids for Railway Land in Mumbai

Representative image created by AI MUMBAI: The Rail Land Development Authority (RLDA) has launched e-bids for leasing prime railway land in Mumbai for residential and commercial projects. The sites available include a 10,801 sq m plot in Mahalaxmi, a 23,047 sq m plot in Parel, and a 45,371 sq m plot in Bandra (East), each with a lease period of 99 years. The reserve prices for these sites are Rs 993 crore for Mahalaxmi, Rs 1,734 crore for Parel, and Rs 5,365 crore for Bandra (East). Positioned near major business hubs and transport links, these locations hold significant appeal for…

Latest StoriesRera

MahaRERA resolves 5,267 complaints in 10 months, vows timely hearings

PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) addressed 5,267 complaints between October 2024 and July 2025, officials announced on Monday. They added that all cases filed by the end of July either received their initial hearings or were scheduled. Homebuyers typically approach the authority over issues such as delayed possession, subpar construction, or missing amenities. To accelerate grievance resolution, MahaRERA chairman Manoj Saunik, along with members Mahesh Pathak and Ravindra Deshpande, has initiated a new protocol where hearings are scheduled within one to two months of a complaint being registered. This represents a significant improvement from past delays that…

Latest StoriesRegulatory

Prayagraj to Crack Down on Property Tax Defaulters

PRAYAGRAJ: The Prayagraj Municipal Corporation (PMC) is preparing to take stringent measures against numerous property owners who have been benefitting from civic amenities without paying property tax for several years. Officials disclosed that many building owners, including over 200 commercial entities like hotels, restaurants, and educational institutions, have not remitted any property tax despite multiple reminders. According to officials, these defaulters collectively owe approximately Rs 40–50 crore in unpaid taxes. Despite issuing notices for over a decade, these operators have continuously ignored the requests. Prime localities including Civil Lines, Katra, George Town, Mumfordganj, Sulemsarai, Phaphamau, and Teliarganj feature prominently on…

Latest StoriesResidential

Over 50 Plots Assigned on Anant Nagar Lottery’s First Day

Representative Image LUCKNOW: The Lucknow Development Authority (LDA) launched the lottery process for the Anant Nagar Housing Scheme on Monday at the Indira Gandhi Pratishthan. On the first day, a draw was held for 56 plots, attended by applicants. The draw included allocations for 19 plots of 450 square meters and 37 plots of 162 square meters, with approximately 1,400 applicants vying for the plots. LDA Vice Chairperson Prathamesh Kumar announced that an additional 155 plots measuring 200 and 288 square meters will be allocated on Tuesday. The final draw for 121 plots of 112.5 square meters will occur on…

Latest StoriesRera

Telangana RERA Slaps Fine on Housing Society for Violations

HYDERABAD: The Telangana Real Estate Regulatory Authority (RERA) has imposed a penalty of ₹18.5 lakh on the Jubilee Hills Co-operative House Building Society Ltd for initiating a real estate project without the required registration under the Act. The authority determined that the society breached the Real Estate (Regulation and Development) Act by advertising and collecting funds for its ‘Jubilee Hills Phase IV’ project located in Manchirevula village, Gandipet mandal, Ranga Reddy district, without RERA approval. The directive requires the society to pay the penalty within 30 days into the TGRERA fund. Moreover, it has been barred from advertising, marketing, booking,…

Latest StoriesRegulatory

ED Seizes ₹100 Crore in Assets from Unnati Fortune Holdings

NEW DELHI: The Enforcement Directorate announced on Monday that it has attached fresh assets worth over Rs 100 crore belonging to a realtor from Uttar Pradesh and his company under the anti-money laundering law related to a cheating case. The assets are tied to ‘The Aranya Project,’ developed by Unnati Fortune Holdings Limited (UFHL), headed by Anil Mithas. Mithas, based in Ghaziabad, was arrested by the federal probe agency in April and remains in judicial custody. A chargesheet was submitted by the ED to a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad in May. The ED’s investigation…

Latest StoriesResidential

Chandigarh’s Vacant Properties to Be Auctioned Every Four Months

CHANDIGARH: Following a remarkable turnout at the recent auction for residential properties, the UT estate office plans to conduct property auctions quarterly. Nishant Kumar Yadav, the deputy commissioner and estate officer, stated, “We are in the process of developing a calendar for property auctions. This schedule will ensure that vacant properties held by the estate office are regularly auctioned, allowing interested buyers to participate. This approach aims to enhance the availability of properties in the city to meet growing demand.” In the latest freehold residential property auction, every residential site was sold. Notably, a property in Sector 33, covering 1014…