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At the end of FY25, the lender’s asset quality has improved to 1.08%, compared to 1.5% a year earlier. The goal for this year is to reduce the gross non-performing assets (NPA) to below 1%.
Representative Image BHOPAL: The central area of Bhopal is set to experience substantial urban development, with plans to relocate slum settlements near Vallabh Bhawan to the Banganga area and other nearby locations within a 3 to 5 km radius, as per officials. Reports indicate that nine slum settlements currently near Vallabh Bhawan will be moved to Banganga, close to Jinsi, where around 14,000 permanent residences will be constructed under a Public-Private Partnership (PPP) model. The affected communities include Vallabh Nagar, Vallabh Nagar-2, Om Nagar, Bhim Nagar, Durga Nagar-1 and 2, Ashok Samrat Nagar, Kumharpura, and Jhada Colony. Although initial plans…
Representative Image LUCKNOW: Ten new FIRs were filed against Ansal API at the Sushant Golf City police station on Thursday and Friday, increasing the total number of cases against the real estate firm in Lucknow to 224. The complaints allege fraudulent activities relating to undelivered properties, including flats, villas, and plots, totaling over Rs 1.72 crore. Tanuja Krishna Dubey, a resident of Railway Officers’ Colony, stated that her late father purchased a plot in 2011 and paid Rs 33.60 lakh by 2015. Despite numerous requests, the registry was never processed. Following her father’s death in 2022, Tanuja claims she was…
File Photo NEW DELHI: Raymond Realty (RRL), the real estate division of Raymond Group, is set to debut on Indian stock exchanges after its demerger from Raymond. The goal of this listing is to enhance shareholder value by forming a focused, debt-free real estate entity. Harmohan Sahni, MD & CEO of the company, stated, “Our net debt-free balance sheet, ownership of 100 acres of land, and a capital-efficient joint development model position us for sustainable annual growth of over 20% and an industry-leading ROCE exceeding 20%.” RRL operates under three residential brands: TenX, The Address by GS, and Invictus. The…
Representative Image NEW DELHI: Bengaluru-based Sobha is set to invest ₹800 crore in its inaugural residential project, Sobha Aurum, located in Greater Noida. The project has gained approval from Uttar Pradesh RERA and will be established in Sector 36. Spread across 3.46 acres, the development offers a total potential of approximately 9.3 lakh sq ft. It includes two towers with 420 residential units in various configurations: 1, 2, 3, and 4 BHK. Unit sizes range from 739 sq ft for the 1BHKs to over 2,300 sq ft for the 4BHKs. Project details indicate prices starting at ₹1.12 crore for 1BHK…
BENGALURU: The Karnataka Real Estate Authority (K-Rera) has commenced an investigation into various residential projects that have failed to meet their completion deadlines and have not submitted timely progress reports. According to K-Rera’s recent data, over 2,600 real estate projects are officially labeled as ‘expired’, while more than 2,700 are categorized as ‘lapsed’. Under RERA guidelines, a project is deemed expired when its registration period ends without the builder applying for an extension. It is classified as lapsed if it remains incomplete without a renewal request, invalidating the registration and potentially exposing the builder to penalties and regulatory actions. Out…
PANCHKULA: The Panchkula municipal corporation has decisively moved to seal illegal hotels and commercial properties in village areas that lack the necessary permissions or Change of Land Use (CLU) approvals. This decision came during a revenue realization committee meeting chaired by Mayor Kulbhushan Goyal and Committee Chairman Suresh Verma. To facilitate inspections, a building inspector and two assistant program officers (APOs) have been assigned the task of surveying the affected villages and compiling a report within a week. Properties found without approved building plans or CLU will be sealed, with applicable CLU charges to be collected from the owners. These…
MUMBAI: Carlyle Group, a US-based private equity firm, is planning to divest its remaining stake in PNB Housing Finance through a block trade valued at $308 million (₹2,604 crore) set for Friday, as outlined in a term sheet from IIFL Capital. The sale will be conducted through Quality Investment Holdings, a Carlyle affiliate, which is putting up its full holding of 27.1 million shares, constituting a 10.44% stake in the mortgage company. The established floor price for this transaction is ₹960 per share, reflecting a 5% discount to PNB Housing’s April 30 closing price of ₹1,010.20 on the National Stock…
CHANDIGARH: The engineering department of the municipal corporation has projected a budget of approximately Rs 10.25 crore for the provision of essential services on a land parcel in Manimajra, intended for auction as a housing society. Of this total, Rs 4.96 crore has been allocated for public health services, Rs 3.32 crore for road construction, Rs 99 lakh for horticulture, and Rs 37 lakh for electrical services. Additionally, Rs 30 lakh has been earmarked for a common duct to accommodate networking lines for multiple utilities. In the public health segment, the engineering department will implement services such as sewerage, stormwater…
BHUBANESWAR: Recent orders from the Orissa High Court, largely favoring homebuyers, are poised to transform the real estate landscape in Bhubaneswar. Experts believe this signals a decline in developer monopolies. The court issued a stay on the construction of an access road by a developer for his new project, responding to a plea from an allottee’s association from a major housing initiative at Paikarapur in Kalinga Nagar. The roadwork was reportedly undertaken within the common areas of the existing housing project. The developer was advancing the housing project in phases, a detail withheld from the original project owners. Allegations arose…
