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Latest StoriesRegulatory

HC urges govt to stop illegal construction in Bhopal’s Arera Colony

Representative image created by AI BHOPAL: The rampant commercialization of the upscale residential area of Arera Colony has drawn the attention of the Madhya Pradesh High Court. The petitioners are asking for the court’s intervention to halt extensive illegal constructions including shops, showrooms, hotels, restaurants, office complexes, and other commercial enterprises in sections E-1 to E-5 of Arera Colony. This area has retained its residential designation since 1968, when it was leased to individuals for housing. The original land use remains unchanged, yet the area’s commercial encroachments are evident. Following an initial hearing, a division bench of the MP High…

InfrastructureLatest Stories

Ahmedabad Enforces Pollution Rules for Private Sites, Ignores Own

Representative image created by AI AHMEDABAD: Despite a year-long mandate for private builders in Ahmedabad to install air quality monitoring sensors at construction sites, the Ahmedabad Municipal Corporation (AMC) has failed to apply similar standards to its own projects. Engineers overseeing AMC’s construction have not installed these sensors, citing a lack of provisions in existing tenders. Currently, the AMC’s engineering department is tasked with building nine flyovers, underpasses, and railway overbridges, none of which feature air quality sensors. New civic projects, including ward offices, community halls, sewage treatment facilities, party plots, water tanks, and pumping stations, also lack these essential…

IndustryLatest Stories

Maharashtra: Experts Warn on Darekar Panel’s Self-Redevelopment Report

PUNE: Housing activists have voiced serious concerns regarding the recommendations from the Pravin Darekar committee on self-redevelopment, stating that the new proposals undermine key benefits established in the state government’s 2019 government resolution (GR) and create new challenges for middle-class homeowners. Housing expert Chandrashekhar Prabhu noted that the committee’s report could strip vital incentives for housing societies, complicating the process for residents. “The 2019 GR offered a 10% increase in FSI as a significant incentive, while the Darekar committee has only recommended a 10% increase in carpet area—offering no real advantage to housing societies,” he explained. According to activists, one…

InfrastructureLatest Stories

Govt. approves GIS master plan for 56 of 59 UP cities

LUCKNOW: The state government has approved GIS-based master plans for 56 of the 59 cities in the region. Only the plans for Kanpur, Rampur, and Ghaziabad are still pending approval. With the aim of creating unified digital geo-referenced base maps and land use maps for the Amrut cities, housing department officials will have access to thematic maps and sector-specific databases. “Utilizing geospatial data enables urban planners to gain insights into development strategies, transportation hubs, geographic features, regional interconnections, and other key aspects of city planning,” stated a senior official from the housing department. Officials mentioned that a final review for…

InfrastructureLatest Stories

Hyderabad Old City corridor impacts 900 properties

HYDERABAD: The road widening initiative for the proposed Metro Rail corridor between MGBS and Chandrayangutta in Hyderabad’s Old City is progressing rapidly. HAML Managing Director Shri NVS Reddy emphasized that the alignment has been meticulously planned to optimize space while minimizing property impact. “Our initial estimate indicated that about 1,100 properties would be affected. Thanks to engineering redesigns and realignments, we’ve reduced that figure to approximately 900,” Reddy explained. He also addressed the numerous challenges encountered in the land acquisition and demolition phases. “Given the densely populated urban environment, houses are tightly packed, and the presence of overhead electricity cables…

InfrastructureLatest Stories

Gurugram Advances with Phase-I Metro Corridor Bids

Representative image created by AI GURUGRAM: GMRL is set to award the contract for the first phase of the Millennium City Centre-Cyber City in about a month and aims to kick off construction by September this year. Officials announced on Sunday that bids for the first phase of the new metro corridor have been assessed. The joint venture of Dilip Buildcon Ltd (DBL) and RBL is currently the lowest bidder for the construction contract, although the evaluation process remains ongoing. “The evaluation is nearing completion. We expect to finalize everything within this month and aim to commence construction by September.…

IndustryLatest Stories

Godrej Properties to launch biggest bond issue yet: Sources

MUMBAI: Godrej Properties, the real estate arm of India’s Godrej Industries, plans to enter the corporate bond market later this month with its largest issuance to date, according to three sources familiar with the matter. The company is expected to raise approximately 20 billion rupees ($230 million) by selling short-duration bonds with a maturity between three to five years, the sources revealed last week. “The firm may seek to enter the market following the central bank’s monetary policy decision this week, anticipating further easing of yields,” one source mentioned. All sources spoke on the condition of anonymity due to the…

Latest StoriesRera

Haryana RERA Fines Shine Buildcon for 4-Year Handover Delay

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRERA) has mandated that a real estate company pay an annual interest of 11.1% to a complainant due to a delay exceeding four years in the delivery of a commercial unit in its Sector 70 venture, ‘70 Grandwalk’. The complaint, lodged under Section 31 of the RERA Act, was resolved on July 24 by HRERA (Gurgaon). The authority specified that the interest must be disbursed within 90 days of the order’s date. Additionally, Shine Buildcon Pvt Ltd has been ordered to transfer possession within 30 days upon the complainant settling dues and to…

Latest StoriesRegulatory

NCLT Excludes Phoenix ARC from Hotel Horizon Creditors’ Committee

The National Company Law Tribunal (NCLT) has partially accepted the request made by the suspended promoters of Hotel Horizon, ruling that the claim from asset reconstruction firm Phoenix ARC is invalid due to being barred by the statute of limitations. Hotel Horizon’s primary asset is a valuable 1.85-acre plot located in Juhu, Mumbai, with a view of the Arabian Sea. Last month, a consortium comprising Oberoi Realty, Shree Naman Developers, and JM Financial Properties received the committee of creditors’ (CoC) approval to acquire the company through the corporate insolvency resolution process (CIRP). The CoC has approved a resolution plan that…