Category: Latest Stories

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Latest StoriesRera

UP-RERA Holds Weekly ‘Samvaad’ for Homebuyer Grievances

Representative image created by AI NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) hosted its weekly ‘RERA Samvaad’, a virtual interaction designed to address homebuyers’ concerns and provide guidance on legal remedies. The session, led by Sanjay Bhoosreddy, chairman of UP-RERA, saw participation from 24 pre-registered homebuyers. Participants from locations including Dubai, NCR, Ranchi, and Prayagraj raised concerns primarily about delays in apartment possession, where developers had failed to deliver despite significant payments. Officials outlined the available legal options, such as filing complaints with RERA, taking action against non-compliant developers, and utilizing online platforms for grievance resolution. UP-RERA’s…

Latest StoriesRegulatory

ED Arrests Galaxy Constructions Director in Bank Fraud Case

MUMBAI: The ED has taken into custody the director of a Pune-based real estate firm from a five-star hotel in Mumbai, along with Rs 9.5 lakh in cash and gold and diamond jewelry valued at Rs 2.3 crore in connection with a bank loan fraud investigation. Amit Ashok Thepade was arrested on Sunday at the luxury hotel in south Mumbai, where he had been residing for the past two months. According to the federal agency, a special Prevention of Money Laundering Act (PMLA) court has remanded him to ED custody for five days. The ED reported that Thepade, who had…

Latest StoriesResidential

40+ AOAs in Noida Protest FIRs for Disputes and Accidents

NOIDA: Over 40 Apartment Owners Associations (AOAs) from various high-rises in Noida convened to protest against recent FIRs filed against them regarding incidents occurring within their residential complexes. These protests were prompted by FIRs against Amrapali Platinum, Supertech Capetown, and others over injuries caused by planter falls or disputes among residents. On August 16, a 12-year-old girl sustained severe head injuries when a piece of plaster from the 25th floor of Amrapali Platinum fell on her. Her grandfather claimed that there were no safety barriers, netting, or warning signs, leading to an FIR against the association for negligence. Ajit Kumar…

Latest StoriesRegulatory

Krrish Realtech diverted ₹205 crore from homebuyers to Colombo hotel: ED

GURUGRAM | NEW DELHI: A Gurugram realty company allegedly defrauded home buyers by collecting over Rs 500 crore for housing plots and misappropriating approximately Rs 205 crore for a hotel project in Sri Lanka, according to a chargesheet filed by the ED. The federal investigation agency is looking into various homebuyer fraud cases nationwide, particularly in the National Capital Region (NCR), where the real estate market is thriving. This specific inquiry involves Krrish Realtech, led by its promoter Amit Katyal, among others. Katyal was arrested in 2023 in a separate money laundering case linked to an alleged land-for-jobs scam with…

Latest StoriesRegulatory

Court Denies HDIL Promoter Trip to Hyderabad, Allows Other Travel

MUMBAI: A special PMLA court has denied HDIL promoter Sarang Wadhawan’s request to travel to Hyderabad, where he is under investigation for allegedly facilitating threats via another individual. Wadhawan is implicated in a Rs 6,117.9 crore money laundering case. “A complaint has been filed with the ED (Enforcement Directorate) concerning threats involving the accused, and verification of the allegations is ongoing. Given the situation, allowing the applicant to visit Hyderabad is neither just nor appropriate,” stated Special Judge R B Rote. Wadhawan, who was released on bail last year after being arrested four years ago alongside his father, Rakesh Wadhawan,…

IndustryLatest Stories

HUDCO to raise ₹3,000 crore via debentures

Representative image NEW DELHI: Housing and Urban Development Corporation Limited (HUDCO) is set to raise up to Rs 3,000 crore by issuing non-convertible debentures. In a regulatory announcement made on Monday, the company stated that its Board of Directors had approved a proposal in April to raise up to Rs 65,000 crore through bond/debenture issuance for the fiscal year 2025-26. The Bond Allotment Committee plans to meet on August 29, 2025, to consider the issuance/allotment of unsecured, taxable, redeemable, non-convertible, non-cumulative NCDs with a face value of Rs 1 lakh each, totaling up to Rs 3,000 crore on a private…

CommercialLatest Stories

360 ONE acquires 50% of Bluegrass Business Park for ₹2,400 Cr

Representative image created by AI NEW DELHI: 360 ONE Asset has acquired a 50% interest in Bluegrass Business Park from Brookfield Asset Management’s private real estate fund (Brookfield). The property, a two million sq ft office development located in Kalyani Nagar, Pune, was purchased for an estimated enterprise value of ₹2,400 crore (approximately $280 million). Occupying seven acres, Bluegrass Business Park includes a one million sq ft operational tower leased to Mastercard, alongside an office tower currently under construction that will feature street retail. Brookfield will maintain responsibility for the management, development, and leasing of the property. Shardul Amarchand Mangaldas…

IndustryLatest Stories

Gaurs Group Purchases 12 Acres at Yamuna Expressway

Representative image created by AI NEW DELHI: Gaurs Group has acquired a 12-acre land parcel in Sector 22-D along the Yamuna Expressway to develop a residential project, with an investment of approximately ₹1,400 crore. Manoj Gaur, CMD of Gaurs Group, stated, “The Group has secured possession of the plot and is in the process of obtaining map sanctions and other necessary approvals. The project will go through the RERA registration process after receiving all requisite approvals, and sales will begin once the RERA registration number is obtained.” The upcoming development will feature ultra-luxury high-rise residences, with a projected topline of…

InfrastructureLatest Stories

Illegal Structures Demolished in Panchkula Urban Areas

PANCHKULA: The District Town Planner (DTP) has initiated a significant enforcement operation in Panchkula’s urban region. Recently, 15 unauthorized Damp Proof Course (DPC) constructions were demolished in Barona Khud village, located in Tehsil Raipur Rani, with more sites currently being identified for similar action. This operation was conducted with senior officials present and a substantial police presence to maintain order. Detailing the operation, DTP Babita Gupta mentioned that the department had issued prior notices before the demolitions. Since the defaulters failed to take action on their own, the department was forced to act decisively. She emphasized that any construction or…

IndustryLatest Stories

India’s 28 Builders Sell Properties Worth ₹53,000 Cr (Apr-Jun)

NEW DELHI: In the April-June quarter, India’s 28 publicly listed real estate companies collectively sold properties valued at approximately Rs 53,000 crore, with Prestige Estates recording the highest sales. According to regulatory filings, the total sales bookings for these firms amounted to Rs 52,842 crore for the first quarter of the financial year. Bengaluru’s Prestige Estates Projects Ltd led the sector with pre-sales reaching Rs 12,126.4 crore during this period. DLF Ltd, recognized as the largest real estate firm by market capitalization in India, secured the second spot with pre-sales of Rs 11,425 crore, mainly due to demand in the…