Category: Latest Stories

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Latest StoriesResidential

Bengaluru: Builders Must Submit CCs Before Flat Transfers

BENGALURU: To combat unauthorized constructions, the Bruhat Bengaluru Mahanagara Palike (BBMP) has implemented a tough new policy for builders and property owners. It is now mandatory for them to present completion certificates before selling flats or properties. Layout approvals will only be granted once both the completion and occupancy certificates are provided. This measure addresses the ongoing problem of illegal constructions that have been bypassing official approvals, which have resulted in significant financial losses for the city corporation. The BBMP has identified thousands of unauthorized buildings but has yet to take decisive demolition actions. A BBMP official stated, “To tackle…

IndustryLatest Stories

CM: Split Dharavi Land for Rehab Units and For-Sale Homes

Certainly! Here’s a rewritten version of your content: Representative image created by AI MUMBAI: Chief Minister Devendra Fadnavis has instructed the Dharavi Redevelopment Project (DRP) to enhance the size of rental tenements to 350 sq ft for residents not eligible for free housing and rehabilitation within the Dharavi notified area. For residents of planned buildings, the size will increase from 405 sq ft to 500 sq ft, as revealed by an RTI application regarding a meeting held on May 28. He also instructed the DRP to ensure that land in Dharavi be evenly split between the rehabilitation section and the…

Latest StoriesResidential

Noida Authority to Revoke Allotments of Encroached Plots

NOIDA: Residents in several Noida areas who are extending balconies, constructing extra rooms, or encroaching on Authority land may soon face plot cancellations if they disregard repeated warnings. The Noida Authority has opted to revoke the allotment of plots for owners engaged in encroachments, even after receiving two notices under Section 10 of the UP Industrial Area Development Act. CEO Lokesh M instructed officials on Friday to place notices directly on properties if the allottees do not acknowledge them, ensuring that no one can claim they were unaware. During a review meeting, he directed the asset department officials to compile…

CommercialLatest Stories

Brookfield buys Jet Airways’ Mumbai office via insolvency

Sure! Here’s a revised version of the content: — Representative image created by AI In a significant update regarding Jet Airways’ insolvency proceedings, Brookfield Asset Management, a major global investment firm, has acquired an additional office floor within the Godrej BKC commercial tower in Mumbai’s Bandra-Kurla Complex for ₹370.25 crore, according to sources familiar with the matter. The transaction was executed under the Insolvency and Bankruptcy Code (IBC) and supervised by the National Company Law Tribunal (NCLT). Initially, Bank of Baroda was the highest bidder, but Brookfield utilized its right of first refusal to match the bid and secure the…

InfrastructureLatest Stories

DDA Aims to Complete Karkardooma Transit Project by Dec 2026

Representative image created by AI NEW DELHI: The Delhi Development Authority’s inaugural transit-oriented development project at Karkardooma is expected to be completed by the end of next year. “The overall completion of the project is aimed for December 2026. The residential section will include approximately 500 units for economically weaker sections (EWS) and around 1,000 flats for middle-income groups. Currently, there is no plan for studio apartments,” stated a DDA official. Construction of additional residential towers is underway. “Structural work is nearing completion, while finishing touches, internal services, landscaping, and acquiring statutory clearances are still in progress,” the official added.…

Latest StoriesResidential

Over 50,000 Goa Homes to Be Regularized Soon

PANAJI: In the coming days, over 50,000 homes in Goa will be regularized as a result of three laws passed during the recent monsoon session of the legislative assembly. Chief Minister Pramod Sawant stated that the ‘Majhe Ghar’ initiative has led to several “bold, compassionate, and people-centric” reforms, ensuring every Goan family can claim their fundamental rights. Under the Goa Land Revenue Code (Amendment) Bill, 2025, homes constructed on government land by landless, long-term residents before February 28, 2014, can now be regularized. Class-I occupancy will be granted for areas up to 400 sqm (including a 2m buffer). “A strict…

InfrastructureLatest Stories

Hinjewadi Road Clean-Up Boosts Call for Tighter Transport Rules

PUNE: Maharashtra Industrial Development Corporation (MIDC) officials are set to address the accumulation of mud and debris on roads due to vehicles traveling to and from construction sites in the Megapolis Township area, in response to multiple complaints from Hinjewadi residents. MIDC has directed construction site managers to ensure that vehicles transporting mud or materials are adequately covered and that the wheels are cleaned before leaving the site. MIDC chief engineer Nitin Wankhede informed TOI that while these regulations exist, they are frequently overlooked, leading to ongoing issues. “If everyone abides by the rules, we wouldn’t have a problem,” he…

Latest StoriesResidential

South Mumbai Societies Enticed by Luxe Lunches for Redevelopment

MUMBAI: This weekend, a prestigious luxury hotel in South Mumbai will host meetings for affluent residents of a prime housing society on Altamont Road, one of the most expensive residential areas in India. Three of Mumbai’s top developers will separately present their redevelopment proposals. The competition for these prime properties is expected to be fierce, as new apartments can demand prices exceeding Rs 1.5 lakh per square foot. On Saturday, a notable developer from Goregaon has reserved a large banquet hall at the hotel. The following day, another major developer will host a lunch at an entire restaurant located on…

InfrastructureLatest Stories

VMRDA Plans Four Theme-Based Townships in Visakhapatnam

VISAKHAPATNAM: The Visakhapatnam Metropolitan Region Development Authority (VMRDA) has issued a request for proposals (RFP) to select a transaction advisor for the development of four theme-based townships in Kothavalasa village of Bheemili mandal, Sontyam in Anandapuram mandal, and two additional locations. Covering an approximate area of 500 acres, these projects will create integrated and self-sustaining urban clusters. Each township will revolve around distinct themes, including IT and innovation, health and wellness, education, tourism, and culture. Given their proximity to the IT hub in Madhurawada and the emerging industries in Anandapuram and Bheemili, these townships aim to foster a walk-to-work culture.…

Latest StoriesRera

West Bengal Orders Developer to Buy Back CC-less Flat After 20 Years

KOLKATA: The West Bengal Real Estate Appellate Tribunal (WBREAT) has instructed a developer to repurchase a flat he sold two decades prior. The occupant, Sibsankar Koley, resided in the flat for 19 years but could not finalize the mutation due to the developer’s failure to secure the completion certificate (CC) from the local authorities. Promoter Satchidananda Mitra of Sona Enterprise has been ordered to refund not only the purchase amount of the flat but also the stamp duty and registration fees incurred by Koley. Koley purchased the flat on Nagendra Nath Road in Nagerbazar in 2006, but he was unable…