Category: Latest Stories

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Latest StoriesRegulatory

ED Conducts Searches on BPTP in Delhi-NCR

NEW DELHI: On Tuesday, the Enforcement Directorate conducted searches at locations linked to real estate firm BPTP across Delhi-NCR as part of an investigation into a foreign exchange violation case involving approximately Rs 500 crore, according to official sources. The searches were carried out at BPTP’s premises in Delhi, Noida, and Faridabad under the Foreign Exchange Management Act (FEMA). A probe revealed that BPTP received over Rs 500 crore in foreign investments pursuant to the “automatic route” from companies based in Mauritius during the 2007-2008 period, allegedly violating existing FEMA regulations, as per ED sources. A spokesperson for BPTP stated…

Latest StoriesResidential

Hrithik Roshan Rents Juhu Flat for Saba Azad at Discounted Rate

Actor Hrithik Roshan has rented a sea-view flat in his luxurious Juhu property to partner Saba Azad for just ₹75,000 per month, significantly lower than current market rates. The leave-and-licence agreement, registered on August 4, stipulates a monthly rent of ₹75,000 with a security deposit of ₹1.25 lakh for a 12-month period, as per data from property platform Zapkey. Roshan purchased three floors in Mannat Apartments (also known as Vartamaan) on Juhu-Versova Link Road in October 2020 for ₹97.5 crore, specifically the 18th, 19th, and 20th floors. This rental rate starkly contrasts with a 2023 agreement in the same building,…

InfrastructureLatest Stories

Manimajra Housing Project to Offer Unique Basement Parking

Representative image CHANDIGARH: The upcoming Manimajra Housing Scheme at Pocket Number 6, with a reserve price exceeding Rs 780 crore, will feature dedicated basement parking along with essential utility services. About 80% of the basement area will be reserved for parking, while the remaining space will contain utility rooms, AC plants, and other non-residential facilities. The municipal corporation (MC) has planned this feature across five distinct plot clusters, with each plot receiving its own basement parking facility. Additionally, the scheme includes separate collector rates for both residential and commercial properties. These matters are slated for discussion at the monthly MC…

InfrastructureLatest Stories

YEIDA to Choose Agency for Hathras Hub Design Plan 2031

NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) is set to hire a consultant to create a detailed project report (DPR) for the Hathras Urban Centre, marking the final urban centre in its Phase-II Master Plan 2031. Officials state that the DPR will act as a foundation for the city’s transformation. It will guide land acquisition, developer selection, and project execution, facilitating the organized development of Hathras into a modern industrial and residential hub. The recent move follows the state government’s approval in March for the second phase of the master plan, empowering YEIDA to oversee significant industrial, residential, and…

Latest StoriesResidential

Residents Push for Balcony and Extension Regulation in Noida

Representative image created by AI NOIDA: The Federation of Noida Residents Welfare Associations (FONRWA) on Monday urged the Noida Authority CEO to regularize unauthorized extensions in residential homes, including rear balconies and ground floor covers. They suggested imposing penalties if necessary and sent a letter to CEO Lokesh M. The federation emphasized that open rear balconies and ground floors pose security risks, and therefore allowing extension covers with applicable fees would be beneficial. This initiative could also help accommodate growing families, as not everyone can afford larger homes. “Today, we wrote to the CEO of the Authority, Lokesh M, requesting…

IndustryLatest Stories

Manesar to Fee Property Owners for Vacant Plot Cleanup

Representative Image GURUGRAM: Property owners will now be held responsible for cleaning costs associated with garbage accumulation on vacant lots and private premises. The Municipal Corporation of Manesar (MCM) commissioner, Ayush Sinha, announced on Monday that officials are now empowered to take immediate action. He also directed joint commissioners to enhance greenery and beautification efforts within the municipal area. Sinha stated, “This initiative aims not only to foster cleanliness in the Manesar area but also to raise public awareness about individual responsibilities.” According to Section 274 of the Haryana Municipal Corporation Act, 1994, if litter is discovered on vacant plots…

Housing FinanceLatest Stories

Grihum Housing Finance to Appoint Ex-Citi Banker as CEO

MUMBAI: TPG-backed mortgage lender Grihum Housing Finance is preparing to appoint Arjun Chowdhry, a former Citibanker, as its new Managing Director and CEO, according to insider sources. He is anticipated to join the firm next month. Chowdhry, who has over two years of experience as the head of retail lending and credit cards at Axis Bank, resigned last month to embark on an entrepreneurial journey. “TPG and the board believe Arjun’s expertise in underwriting credit card customers will greatly benefit strategies aimed at low-income clients, often perceived as higher risk,” noted a knowledgeable official. Messages sent to Chowdhry and Grihum…

InfrastructureLatest Stories

NGT Requests Reports on Aravalis Farmhouses from Haryana, Rajasthan

GURUGRAM: The National Green Tribunal (NGT) requested compliance reports from the Haryana Pollution Control Board (HSPCB) and the Sohna Municipal Council during a hearing on Monday. Both entities were made respondents in an ongoing case addressing unauthorized construction and reconstruction activities in the ecologically sensitive Aravali hills of Raisina. Counsel representing Haryana and Rajasthan requested a four-week extension to submit their compliance reports concerning prior directions aimed at protecting the Aravalli hills. The bench approved this request, scheduling the next hearing for October 16. The bench, consisting of NGT Chairperson Justice Prakash Shrivastava and expert members Dr. A. Senthil Vel…

Latest StoriesResidential

Property Owners Criticize Bengaluru Body for High Khata Fees

BENGALURU: The high khata transfer fee set by the Bangalore Development Authority (BDA) has faced criticism from property owners in its developed layouts. Property owners express willingness to pay a transfer fee but dispute the significant increase introduced by the BDA. They assert that the hike is not justified and imposes an undue financial strain on individuals updating property ownership records without any meaningful additional service or benefit. A common complaint is that the BDA charges the same fee for transferring khata to a dependent’s name after the original owner’s death as it does for standard sale transactions. Owners have…

IndustryLatest Stories

Abhishek Kapoor Named New CEO of My Home Constructions

NEW DELHI: My Home Constructions, a subsidiary of the My Home Group based in Hyderabad, has announced the appointment of Abhishek Kapoor as the new chief executive officer (CEO), effective immediately. Kapoor recently resigned as group CEO and executive director at Puravankara. “Our goal is to strengthen My Home’s footprint in Bengaluru, Chennai, and Mumbai through innovative products and exceptional customer service,” Kapoor stated. He will be responsible for driving the company’s growth strategy, focusing on business development, land acquisition, sales and marketing, strategic partnerships, and operational execution. My Home Constructions currently has over 50 million sq ft of construction…