Category: Latest Stories

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Latest StoriesResidential

Greater Noida Authority Lets Buyers’ Group Complete Sampada Livia

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) board has given in-principle approval to prolong map validity and grant permission to mortgage (PTM) to the SLB Welfare Association. This buyers’ group is now steering the long-delayed Sampada Livia housing project in Sector Chi-5, which has been stalled for a decade. This decision, made under the Legacy Stalled Real Estate Projects Policy introduced by the UP government in December 2023, offers crucial institutional support to a homebuyers’ association struggling with legal, financial, and regulatory challenges to complete their homes. It will allow financial institutions to provide loans to buyers and help…

Latest StoriesRegulatory

NCLT Declares Ex-DHFL Chairman Bankrupt Over ₹4,546 Crore

Sure! Here’s a rewritten version of the provided content: MUMBAI: The National Company Law Tribunal (NCLT) in Mumbai has declared Kapil Wadhawan, the former chairman of the now-defunct Dewan Housing Finance Corp (DHFL), bankrupt, following a petition filed by Union Bank of India to recover ₹4,546 crore. The bankruptcy order was passed on August 14 after Wadhawan did not submit a repayment plan, despite multiple attempts by resolution professionals. The tribunal appointed Sanjay Kumar Mishra as the bankruptcy trustee to oversee the proceedings. “The bankrupt (Wadhawan) must provide his statement of financial position to the Bankruptcy Trustee within seven days…

IndustryLatest Stories

Mohali Body Earns ₹961 Crore from Property E-Auction

MOHALI: The Greater Mohali Area Development Authority (GMADA) generated ₹961 crore from its recent e-auction of properties, which concluded on Monday. Notably, the prices of premium residential plots have shown slight softening compared to the auction held in June. A one kanal (500 square yard) residential plot in Sector 65 was sold for ₹6.74 crore against a reserve price of ₹6 crore, slightly lower than the ₹6.87 crore fetched in June for a similar plot with a base price of ₹6.35 crore. Other one-kanal plots in the latest auction were sold for prices ranging from ₹5.6 crore to ₹6.87 crore,…

InfrastructureLatest Stories

560+ Fined Monthly for Dumping Construction Waste in Nagpur

Representative image created by AI NAGPUR: The irresponsible dumping of construction materials such as sand, gravel, and cement has become a significant issue in the city, with footpaths and roads frequently turning into temporary storage spaces for builders and contractors. In many areas, pedestrians are forced to walk on busy roads, while vehicles struggle to navigate narrowed paths. According to data from the Nagpur Municipal Corporation (NMC), the Nuisance Detection Squad (NDS) takes action against an average of 564 violators—both individuals and builders—each month. A penalty of ₹1,000 is imposed on individuals, while builders face a higher fine of ₹5,000…

Latest StoriesRera

MahaRERA Freezes Accounts, Suspends 4,812 Lapsed Projects

PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has suspended registrations for 4,812 housing projects statewide since July, freezing their bank accounts because developers failed to update construction progress or request extensions despite multiple reminders. The majority of suspended projects are in major urban areas, with Pune leading at 1,219 suspensions, followed by Thane (535), Raigad (465), Mumbai suburban (438), and Palghar (377). These projects will now be barred from property transactions, and developers could face penalties up to ₹50,000 for non-compliance. This action follows a crackdown initiated in December when MahaRERA identified 10,773 projects lacking updated timelines. “Many developers…

InfrastructureLatest Stories

Flat Owners’ Association Requests KSPCB to Approve Temporary Sewage Use in Kochi

Representative image created by AI KOCHI: The Consortium of Flat and Villa Owners’ Association, Kerala (COFVOAK), has requested the Kerala State Pollution Control Board (KSPCB) to permit apartment complexes lacking sewage treatment plants (STPs) to temporarily utilize common treatment facilities in the city for the next two years. This appeal follows KSPCB issuing eviction notices to over 1,000 families living in 71 apartment complexes that have yet to establish STPs, while the Kerala State Electricity Board (KSEB) has threatened disconnections for non-compliance with environmental regulations. During a recent high court session, which reviewed petitions from various residents’ associations, the court…

IndustryLatest Stories

Omaxe Reports ₹186 Crore Net Loss in Q1 FY26

NEW DELHI: Omaxe Ltd reported a consolidated net loss of ₹185.77 crore for the first quarter of the current financial year, attributed to a decrease in income. In the same period last year, the company’s net loss was ₹146.98 crore. Total income decreased to ₹298.03 crore for the April-June 2025-26 quarter, down from ₹385.23 crore during the corresponding period in the previous year, as per a recent regulatory filing. Omaxe, a prominent real estate company in India, operates in 30 cities across eight North and Central Indian states, having delivered over 135 million sq ft of area since its establishment.…

IndustryLatest Stories

NBCC Projects Revenue to Hit ₹25,000 Crore by FY28

NEW DELHI: State-owned NBCC Ltd projects its revenue to reach approximately Rs 25,000 crore by 2027-28, which would be more than double its earnings from the previous financial year, bolstered by a substantial order book totaling Rs 1.2 lakh crore. The company, engaged in project management consultancy (PMC) and real estate, offered these insights during a recent conference call with analysts. They outlined revenue forecasts, stating, “This year, we expect Rs 14,000 crore to Rs 15,000 crore. Next year, it will likely be between Rs 18,000 crore and Rs 19,000 crore, and by 2027-28, around Rs 25,000 crore.” For the…

Latest StoriesRegulatory

SC Denies Time Extension for DHFL Promoter’s Surrender

The Supreme Court declined to extend the deadline for Dheeraj Wadhawan, former promoter of Dewan Housing Finance Corporation, to surrender in connection with a bank loan fraud case. Previously, on August 5, the apex court dismissed the medical bail granted by the Delhi High Court last September and mandated his surrender within two weeks. Wadhawan is implicated in a substantial bank loan fraud exceeding ₹34,000 crores, reportedly the most significant case of its kind in India. “We are not willing to extend the surrender timeline as requested by Wadhawan. However, acknowledging his potential need for medical care as per reports…

CommercialLatest Stories

Apple Signs 10-Year Lease for 2.7 Lakh Sq Ft in Bengaluru

Certainly! Here’s a rewritten version of the content: NEW DELHI: Apple India has secured approximately 270,000 square feet of office space in Bangalore, committing to a 10-year lease with an initial monthly rent of Rs 6.3 crore, as reported by data analytics firm Propstack. As the leading exporter of mobile phones from India, Apple has exported iPhones valued at around Rs 1.5 lakh crore in the financial year 2024-25. The space, sourced from the Embassy Group, includes several floors and car parking facilities. According to Propstack, Apple is projected to spend over Rs 1,000 crore on rent, car park, and…