Category: Latest Stories

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Latest StoriesRera

Haryana RERA Directs Builder to Refund Cash, Alerts I-T Dept.

CHANDIGARH: In an effort to combat black money in the real estate sector, the Real Estate Regulatory Authority (Rera) Haryana has started referring cases involving cash transactions exceeding Rs 2 lakh to the income tax department for further investigation. Recently, the Panchkula bench of Rera Haryana mandated a realtor to reimburse Rs 10 lakh received in cash from a buyer for a flat in Panipat, plus Rs 7.73 lakh in interest at an annual rate of 10.9%. The buyer, Jasvir Singh from Panipat district, lodged a complaint against Real Heights Developers, substantiating his claim with comprehensive financial records and a…

Latest StoriesRegulatory

SEBI Bans DHFL’s Wadhawans and Four Others from Markets

NEW DELHI: The securities regulator, Sebi, has imposed a ban on Dewan Housing Finance Ltd’s former CMD, Kapil Wadhawan, ex-director Dheeraj Wadhawan, and four others from participating in securities markets for up to five years due to financial misconduct, including fund diversion and falsifying records. The additional individuals sanctioned by Sebi are Rakesh Wadhawan (non-executive chairman), Sarang Wadhawan (former non-executive director), Harshil Mehta (joint managing director & CEO), and Santosh Sharma (former CFO). Sebi has also levied fines totaling Rs 120 crore on the six individuals involved. Kapil Wadhawan and Dheeraj Wadhawan have each received a five-year ban, while Rakesh…

IndustryLatest Stories

Shriram Properties Q1 FY26 Net Profit Jumps 17.93%

NEW DELHI: Shriram Properties has announced a net consolidated profit increase of 17.93% for the quarter ending June 30, 2025. The profit after tax reached ₹20.59 crore in Q1 FY26, compared to ₹17.46 crore in the same quarter last year, according to a filing with the BSE. The company’s net consolidated total income rose to ₹261.54 crore in Q1 FY26, marking a growth of 24.01% from ₹210.90 crore recorded during the equivalent quarter last year. Murali M, chairman and managing director, stated, “Our entry into Pune has been successful, and we are dedicated to further expanding our presence. We are…

Latest StoriesRegulatory

Karnataka Targets Illegal Layouts, Officials May Face Action

Representative image created by AI BENGALURU: The Karnataka Revenue Department has initiated a substantial campaign against illegal land developments, targeting unauthorized layouts established through the misuse of land laws. Revenue Minister Krishna Byre Gowda has instructed officials to identify and take strict action against officers involved in these violations. Across the state, valuable agricultural lands are being unlawfully converted into residential plots without the necessary approvals mandated by Section 95 of the Land Revenue Act. Developers are misusing “11E maps,” intended for legitimate partitioning, to subdivide land into smaller parcels, sometimes less than one gunta, and market them as part…

Latest StoriesResidential

Lucknow Authority Rejects Map Approval for Illegal Colonies

LUCKNOW: The Lucknow Development Authority has made a decision not to approve building plans for houses on 7.5-meter-wide roads within 241 illegal colonies, even if mapping regulations are relaxed. This decision, taken at the recent LDA board meeting, aligns with the enforcement of the Master Plan 2021. According to the new regulations, approvals will only be granted if a 7.5-meter road is at least 200 meters long and constructed with government funding. Roads of the same width developed by private builders in unapproved colonies will not qualify. These restrictions apply to colonies designated as “bad colonies” in the Avadh region’s…

CommercialLatest Stories

Tamil Nadu to Launch Special Vehicle for Co-Working Space

CHENNAI: With the planned expansion of co-working spaces throughout the city as part of the chief minister’s project, the state government has established a special purpose vehicle (SPV) and a private company led by a CEO to oversee these spaces. The SPV will operate independently from the government to facilitate the day-to-day management of the co-working facilities. Participants in the meeting—including officials from CMDA, special projects, and the urban development department—indicated that the chief minister aims for all 30 proposed centers to function seamlessly, regardless of changes in government or departmental leadership. Currently, the only co-working center in Kolathur is…

InfrastructureLatest Stories

Gurugram: 1,000+ Notices Issued for Illegal Commercial Activities

GURUGRAM: The Department of Town and Country Planning (DTCP) has ramped up efforts to tackle unauthorized constructions in stilt parking zones and illicit commercial activities in residential areas—major factors exacerbating the city’s parking woes. DTP (enforcement) Amit Madholia noted that ongoing surveys in DLF phases, Sushant Lok (I–III), South City, Suncity, and Palam Vihar have uncovered widespread misuse of stilt parking spaces in licensed colonies, where residents frequently convert these areas into servant quarters, storage spaces, or extra living accommodations, thereby pushing vehicles onto already crowded streets. “Notices are issued to property owners wherever illegal constructions are found in stilt…

Latest StoriesRegulatory

Consumer Forum Urges Ghaziabad Body to Register Flat from 36 Years Ago

GHAZIABAD: The District Consumer Disputes Redressal Commission (DCDRC) has instructed the Ghaziabad Development Authority (GDA) to formally register a residential property booked 36 years ago. Kunti Yadav booked a four-bedroom deluxe apartment in Kaushambi Phase III on October 27, 1989. However, GDA withheld the registration, citing pending payments. Despite this, Yadav took possession of the flat in Govardhan Apartment in 1994 and has been residing there since. On July 29, DCDRC President Praveen Kumar Jain and members Shailja Sachan and RP Singh ruled that GDA must dismiss all demand notices and register the property in the owner’s name within 45…

Latest StoriesResidential

Bengaluru Property Owners Criticize Officials Over E-Khata Issues

BENGALURU: After issuing penalty notices to numerous e-khata holders for allegedly under-declaring parking spaces in their property tax filings, the BBMP has dropped a new surprise — even if you pay the penalty, they will not update the property dimensions in the e-khata. Upset property owners are calling it a blatant exploitation. “They first accuse us of under-declaring our parking space. Now, when we agree to pay the penalty, they refuse to make any corrections. What’s the point of paying?” questioned frustrated homeowners. The silence from Deputy Chief Minister DK Shivakumar, who oversees Bengaluru’s development, has also left them perplexed.…

IndustryLatest Stories

Grovy India reports ₹1.1 crore profit in Q1 FY26

NEW DELHI: Realty firm Grovy India Ltd reported a net profit of ₹1.1 crore in the first quarter of the current fiscal year. In the same period last year, the Delhi-based company faced a net loss of ₹25 lakh. According to Grovy’s statement, total revenue surged to ₹8.3 crore for the April-June quarter, up from ₹1.3 crore during the same timeframe last year. Founded in 1985, Grovy India specializes in real estate development and consultancy, having completed over 100 independent floor projects mainly in South Delhi. The company is currently developing more than 1 lakh square feet of luxury apartments…