Category: Latest Stories

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Latest StoriesResidential

Ghaziabad to Address Buyers’ Complaints Monthly

GHAZIABAD: The Ghaziabad Development Authority (GDA) has initiated the ‘Rera Samadhan Diwas’ to address complaints against it under UP Rera. This monthly event will take place on the third Thursday of each month. “As a development authority, the GDA is responsible for creating townships, including Madhuban Bapudham. It is accountable to home buyers investing in its housing schemes, similar to private developers. Hence, home buyers can approach the regulatory authority for any issues with the GDA,” a GDA official explained to TOI. The official continued, “Since UP Rera’s inception, many cases have been filed against GDA, leading to adverse orders,…

Latest StoriesRegulatory

NIT Report Recommends Retrofitting LIFE Mission Buildings

KOCHI: The National Institute of Technology (NIT) Kozhikode has recommended that structures built under the LIFE Mission housing project in Wadakkancherry, Thrissur, be used for their intended purpose after necessary structural modifications, such as rehabilitation or retrofitting, to rectify identified issues. The report noted that while the buildings have been neglected for the past five years and show signs of poor craftsmanship, demolition is not necessary. This report was submitted by the state government to the Kerala High Court in response to a petition from Congress leader Anil Akkara urging the resumption of halted construction on the project. In the…

IndustryLatest Stories

Opposition Grows to Proposed Building Rules in Punjab

BATHINDA: Several pro-environment organizations and activists have voiced strong objections to the proposed Punjab Unified Building Rules, 2025, likening them to a land-pooling policy. They contend that the draft favors builders over the general public by granting developers extensive powers. These organizations argue that Punjab’s residents are opposed to congested, unsafe, and unlivable urban areas. They express concerns that provisions for unlimited floor area ratio (FAR), increased population densities, habitable basements, commercializing residential spaces, relaxed fire safety standards, and loss of green areas will lead to concrete jungles. They believe that the proposed rules prioritize developer profits at the expense…

InfrastructureLatest Stories

Bengaluru Authority to Launch in September

BENGALURU: The state government is finalizing preparations to launch the Greater Bengaluru Authority (GBA) on September 2. This new entity will replace the Bruhat Bengaluru Mahanagara Palike (BBMP) with five municipal corporations. Draft orders for the new corporations have already been issued, objections have been considered, and a final notification is expected soon. The historic BBMP headquarters, which has housed the city’s administration since 1947, is being renovated to serve as the Chief Minister’s office in his role as Chairperson of the GBA. The Bengaluru Urban Development Minister, acting as Deputy Chairperson, will work from the upgraded Deputy Mayor’s office.…

IndustryLatest Stories

MHA Urges Chandigarh Admin for Response on Property Issues

CHANDIGARH: The Ministry of Home Affairs (MHA) has once again reached out to the Chandigarh administration regarding unresolved property issues, following a lack of response. In its recent communication, the MHA referenced a letter from Chandigarh MP Manish Tewari, highlighting five critical matters concerning the administration. The MHA’s letter states, “The requisite information is still awaited. Therefore, we kindly request your comments on the following major issues facing the Chandigarh administration.” The Times of India was the first to report on this communication. The ministry is seeking updates and views on several “major issues.” The identified issues include: property sale…

IndustryLatest Stories

BMC to Launch Safety Licenses for High-Rise Site Officers

Representative image created by AI MUMBAI: The BMC’s building proposal department should implement a professional safety license for Licensed Safety Officers (LSOs) for each high-rise development in the city. The special safety control guidelines recommended by a committee, as directed by the Bombay High Court, were approved by the state government and sent to the BMC on August 20. In 2022 and 2023, there were incidents involving tower cranes that affected pedestrians. On February 14, 2023, a tragedy occurred at a residential construction site where concrete blocks fell from the 42nd floor onto an adjacent road, resulting in the deaths…

IndustryLatest Stories

Pune Activists: Scrap Janata Vasahat TDR Proposal, Don’t Pause It

Here’s a rewritten version of your content: — PUNE: Following the state government’s decision to pause the contentious TDR (Transfer of Development Rights) proposal for the Janata Vasahat slum rehabilitation, activists and residents are calling for its complete cancellation. They allege significant irregularities in land classification, inflated valuations, and a transparency deficit that could jeopardize the rights of slum dwellers. The project, valued at Rs750 crore, involves allocating full TDR, representing 100% of the slum area at 1 Floor Space Index (FSI). However, parts of the Janata Vasahat slum are designated in the Pune Municipal Corporation (PMC)’s Development Plan as…

Housing FinanceLatest Stories

Centrum Capital sells mortgage unit to Weaver for ₹430 crore

NEW DELHI: Centrum Capital Ltd has announced the signing of an agreement to divest its complete stake in Centrum Housing Finance Ltd (CHFL), its affordable housing finance arm, to lender Weaver Services for Rs 430 crore. This agreement, approved by Centrum’s board, is contingent upon shareholder, regulatory, and other commercial approvals, as stated by Centrum Capital. As of June 30, 2025, CHFL manages assets worth Rs 1,640 crore and operates in 100 locations, serving over 18,000 customers. Their offerings include home loans, self-construction loans, home improvement loans, and loans against property. For this transaction, E&Y acted as the financial advisor…

InfrastructureLatest Stories

Bengaluru invites global bids for revised 2041 master plan

BENGALURU: The Bangalore Development Authority (BDA) has initiated a global tender to develop the Revised Master Plan (RMP-2041), which aims to create a comprehensive vision for the city’s future. This decision follows the previous RMP-2031 being put on hold due to criticism over insufficient scientific foundation, inadequate stakeholder involvement, and failure to tackle the city’s rapid and unplanned growth. Interested bidders can submit proposals until September 30. BDA officials assert that the new plan will rectify past shortcomings and establish a robust framework for managing Bengaluru’s growing population, increasing traffic, and urban expansion. A high-tech 3D drone survey is currently…

Latest StoriesRegulatory

ED Files 22 Cases in Builders-Banks Nexus Investigation

NEW DELHI: The Enforcement Directorate (ED) has initiated 22 cases under the anti-money laundering statutes to probe the alleged “unholy nexus” between builders and banks responsible for defrauding homebuyers in the national capital region (NCR), according to officials. The cases, filed under the Prevention of Money Laundering Act (PMLA), arise from an equal number of FIRs by the CBI issued at the end of July, following directives from the Supreme Court. The ED emphasizes that these cases involve significant public interest, with numerous homebuyers allegedly victimized. Investigations will focus on uncovering fraud, corruption, and money laundering activities by builders, banks,…