Category: Latest Stories

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Latest StoriesRegulatory

NCLT Approves Mantra Properties’ Plan for Worli Project

The National Company Law Tribunal (NCLT) in Mumbai has approved Mantra Properties & Developers’ resolution plan for a stalled residential project located in Worli, Mumbai. This decision marks a significant step towards reviving a development projected to yield approximately ₹2,000 crore. The tribunal endorsed the resolution plan submitted by Mantra Properties for the insolvent Siddhi Raj Housing Projects Pvt Ltd, concluding a corporate insolvency resolution process that began in May 2023 due to a contractor’s petition. The committee of creditors (CoC) supported the plan with a 92.97% voting share. The NCLT, in its order dated June 19, affirmed that the…

IndustryLatest Stories

Chhattisgarh CM Initiates Statewide Building Safety Audit

RAIPUR: Chhattisgarh Chief Minister Vishnu Deo Sai has mandated a detailed review and safety audit of multi-storey residential complexes, commercial centers, coaching institutes, hotels, and other public buildings statewide, officials reported on Thursday. This directive follows several recent fire incidents nationwide, including a tragic blaze in Lucknow, Uttar Pradesh on June 22 that resulted in 15 fatalities. The building that caught fire in Lucknow’s Aliganj area included an animation center, and many victims were students. Taking these incidents seriously, the Chief Minister emphasized the necessity for strict adherence to safety regulations to avert future tragedies, according to an official announcement.…

IndustryLatest Stories

Lucknow Body Implements New Fire Safety Rules for Building Plans

LUCKNOW: Following a tragic fire incident in Aliganj, the Lucknow Development Authority (LDA) has mandated that all building owners submit a notarized fire safety affidavit before obtaining approval for their building plans. Previously, only large establishments needed a no objection certificate (NOC) from the fire safety department for map approval. Buildings not exceeding 15 meters in height and with an area of up to 500 square meters were exempt from this requirement. However, under the new regulations, owners of these smaller buildings are now required to file affidavits certifying fire safety compliance for map approval. The only exception applies to…

IndustryLatest Stories

Land Sharks Target Noida Villages; Authority Issues Alert

NOIDA: The Noida Authority has issued a public notice alerting residents to the issue of illegal constructions and encroachments on its designated land in Salarpur, Bhangel, and Hajipur villages. Authorities indicated that numerous plots in these areas have been unlawfully occupied, leading to demolition and sealing operations at those locations. Residents are urged not to invest in such properties. “The public is warned that in Salarpur, Bhangel, and Hajipur, individuals including land mafias and encroachers are engaging in unauthorized constructions on notified land. The Noida Authority has consistently acted to demolish and seal these illegal structures and has issued notices…

InfrastructureLatest Stories

Rajasthan: Govt Pattas Undermine Crackdown on Illegal Colonies

JAIPUR: Despite the state government expressing concerns about rising encroachments and unauthorized colonies, its move to regularize such settlements through Urban Service Camps has faced criticism from town planners and municipal officials. They argue that this policy incentivizes violations and undermines law enforcement. Officials contend that this practice encourages builders to establish illegal colonies, banking on potential future government approvals. A circular dated June 10 introduced relaxations to urban development laws, aimed at expediting case resolutions during these camps. Under this directive, matters like mutation, conversion of leasehold to freehold properties, issuance of no-objection certificates (NOCs), and plot subdivisions will…

Latest StoriesResidential

Centre OKs 6.18 lakh PMAY-Gramin homes for Uttar Pradesh

LUCKNOW: The Central government has extended the minimum support price (MSP) procurement period for wheat, gram, and lentils in Uttar Pradesh until July 8. They have also approved over 6.18 lakh houses in the next phase of the Pradhan Mantri Awas Yojana, as stated in an official announcement made on Thursday. The details were shared by Union Agriculture and Rural Development Minister Shivraj Singh Chouhan during a review meeting held with Uttar Pradesh Chief Minister Yogi Adityanath at Yojana Bhawan in Lucknow. Chouhan presented approval letters for extending the MSP procurement for the rabi marketing year 2026-27 and for sanctioning…

IndustryLatest Stories

Uttar Pradesh Secures ₹50,000 Crore in Investment Proposals

NEW DELHI: Uttar Pradesh Attracts ₹50,000 Crore in Investment Proposals During the Uttar Pradesh Global Growth Dialogue 2026 in Bengaluru, the state garnered over ₹50,000 crore in investment proposals, with over 15 companies signing memorandums of understanding with the state government. The investments span various sectors, including industrial and business parks, global capability centers (GCCs), infrastructure, electronics manufacturing, and logistics. Industrial and Business Parks: Horizon, backed by Blackstone, proposed an investment of ₹10,000 crore, while other notable proposals include ₹5,000 crore from Embassy, ₹5,000 crore from Raheja Mindspace REIT, ₹15,000 crore from Prestige, and ₹4,000 crore from Sattva Developers. Shriram…

Latest StoriesRegulatory

Telangana HC Delays Hearing; Hakimpet Auction Stalled

Telangana High Court HYDERABAD: The Telangana High Court has postponed the hearing on a series of petitions contesting the e-auction of an 8.24-acre land parcel in Hakimpet, Banjara Hills, effectively pausing the auction process. The auction was initially set for June 19, but was delayed to July 2 due to claims of ownership raised by certain parties in the High Court. During the hearing, Justice NV Shravan Kumar ordered the appointment of two advocate commissioners, one representing the petitioners and the other for the state government. “They are to inspect the lands and submit a report to the court,” stated…

Latest StoriesRegulatory

ED Raids in Ghaziabad Over Housing Society Fraud

ED raids in Ghaziabad, Delhi in alleged housing society fraud case NEW DELHI: The Enforcement Directorate (ED) conducted searches at various locations in Ghaziabad and Delhi on Thursday as part of its investigation into an alleged housing society fraud involving a real estate developer and cooperative society officials. The search operation, led by ED’s Lucknow zonal office, falls under Section 17 of the Prevention of Money Laundering Act (PMLA) in connection with a case against Sandeep Singh, promoter of Shrasth Propbuild Pvt Ltd, and the office-bearers of Seva Suraksha Sahkari Awas Samiti. Officials familiar with the proceedings stated that the…

Latest StoriesRegulatory

Court orders Mumbai builder to refund buyer for delayed flat

MUMBAI: The Maharashtra Consumer Disputes Redressal Commission has mandated two builder firms to refund Rs 1.05 crore with interest to a couple for failing to deliver their flat after full payment and selling it to someone else. In a ruling delivered last week, the commission observed that the complainants, having invested their life savings in the Mumbai project, underwent a “prolonged and egregious ordeal lasting over a decade”. The decision was made ex parte, as the builders—Universal Housing & Infrastructure and Universal Construction, along with managers Saquib Shaikh Ahmed Mukadam and Sajid Shaikh Ahmed Mukadam—did not respond to the commission.…