Category: Latest Stories

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Latest StoriesRera

Telangana RERA Orders Developer to Refund Delayed Project Buyers

HYDERABAD: The Telangana Real Estate Regulatory Authority (RERA) has mandated that a real estate developer refund amounts collected from property buyers, along with interest, due to failure to deliver the project on time. The directive was prompted by complaints from two buyers reporting a breach of agreement and non-compliance with the agreed terms. In one case, Musunuru Siva Sankara Rao, a resident of Peerzadiguda, approached RERA after Jayathri Infrastructure failed to deliver a commercial space in the Western Galaxy project by the set deadline of December 2024. The Memorandum of Understanding (MOU) was signed in February 2021, and the buyer…

IndustryLatest Stories

Panchkula Sees 10-50% Increase in Card Collector Rates

PANCHKULA: The Panchkula administration has proposed significant increases in collector (circle) rates for the 2025-2026 period, ranging from 10% to as much as 50%. According to the current draft, residential and industrial property rates could increase by up to 50%, based on location and intended use. Official documents indicate that in key residential sectors like 4, 5, and 6 (MDC) as well as sectors 6 to 11, the collector rate is projected to rise by 50%, from Rs 66,000 to Rs 99,000 per square metre. Rates in sectors 10 and 11 are also expected to go up by 50%, moving…

Housing FinanceLatest Stories

CBI: No Irregularities Found in Indiabulls, Tells SC

NEW DELHI: The CBI informed the Supreme Court on Wednesday that it is not investigating any irregularities involving Indiabulls Housing Finance Limited (IHFL), currently known as Sammaan Capital Limited. The agency has found no wrongdoing related to the company’s disbursal of loans to corporate entities. Additional Solicitor General SV Raju presented this information to the bench of Justices Surya Kant and Joymalya Bagchi, stating that there were no findings concerning allegations that Indiabulls distributed dubious loans. Senior advocates Harish Salve and Mukul Rohatgi, representing the company’s promoters, claimed these allegations are fabricated, noting that the petitioner NGO Citizens Whistle Blower…

Latest StoriesRegulatory

CBI Files 22 FIRs on SC’s Order to Probe Builders-Banks Nexus

NEW DELHI: Following the Supreme Court’s orders, the CBI has filed 22 FIRs to investigate the alleged collusion between builders and banks, which has reportedly defrauded homebuyers in the NCR region, officials announced on Wednesday. The agency executed searches across 47 locations in Delhi and NCR after filing the FIRs, a spokesperson for the CBI confirmed. Entities like Jaypee Sports International Ltd, Jaiprakash Associates Ltd, Ajnara India Ltd, Vatika Ltd, Jaypee Infratech Ltd, Supertech, and Idea Builders are among those specifically mentioned in the various FIRs. The investigation also names several financial institutions, including State Bank of India, Indiabulls Housing…

IndustryLatest Stories

Sri Lotus Developers IPO Sees 3.59x Subscription on Day 1

NEW DELHI: Sri Lotus Developers and Realty Ltd, a real estate firm supported by Bollywood celebrities and prominent investor Ashish Kacholia, witnessed strong demand for its initial public offering (IPO), which was subscribed 3.59 times on its opening day of bidding on Wednesday. According to the National Stock Exchange (NSE), the IPO received bids for 14.23 crore (142,386,800) equity shares, surpassing the 3.96 crore (39,658,730) equity shares available. The Qualified Institutional Buyers (QIB) segment was particularly strong, achieving 5.31 times subscription, while the non-institutional investors’ allocation was subscribed 3.10 times. The Retail Individual Investors (RIIs) portion received bids 2.82 times…

CommercialLatest Stories

IndiQube Falls 15% in Trading Debut on July 30

Shares of IndiQube Spaces dropped nearly 15% on their trading debut on Wednesday, as broader markets remained subdued ahead of an impending U.S. tariff deadline. This scenario values the Indian workspace solutions provider at ₹44.13 billion ($506 million). IndiQube’s debut is notable among a dozen Indian IPOs this month, being only the second to list at a discount. The firm raised $80.3 million through an IPO that was 12.4 times oversubscribed last week, showing strong demand from both retail and institutional investors. Its shares opened at a 9% discount to the IPO price of ₹237 in Mumbai and were down…

IndustryLatest Stories

Knowledge Realty Trust’s ₹4,800 Cr IPO Launching August 5, 2025

NEW DELHI: Knowledge Realty Trust REIT has set the price range for its issue between ₹95 and ₹100 per unit. The bidding process opens on August 5, 2025, and concludes on August 7, 2025. The minimum bid size is ₹15,000, which translates to a minimum of 150 units, with additional bids made in multiples of 150 units for all bidders except anchor and strategic investors. This offering includes a fresh issuance of units totaling up to ₹4,800 crore by Knowledge Realty Trust. A maximum of 75% of the issue (excluding the Strategic Investor portion) will be allocated proportionately to institutional…

Latest StoriesRegulatory

NGT Sends Notices to Haryana on Aravalis Environmental Violations

GURUGRAM: The National Green Tribunal (NGT) has acknowledged environmental violations in the ecologically sensitive Aravali forest area near Suncity, Sector 54, and has issued notices to the Haryana government, forest department, and pollution department for clarification. The next hearing is scheduled for October 29, 2025. The tribunal was presented with a petition from a local resident claiming that over 10 acres of Aravali land in Sector 54 has been encroached upon. The petition outlines several violations on the forestland, which include the construction of unauthorized structures, the creation of a parking lot, illegal borewell installations, and incidents of light and…

Latest StoriesResidential

Lucknow: After 21 Years, Man Still Awaiting LDA Plot Possession

LUCKNOW: Harish Chandra Agarwal has endured a 21-year wait to gain possession of a plot he secured with the Lucknow Development Authority. Although the plot in the Ramnagar Housing Scheme was allotted in 2004, Agarwal’s anticipation remains unfulfilled. Agarwal expressed his discontent during the LDA’s Nagrik Suvidha Diwas on Tuesday. He mentioned that of the 80 plots allotted by the LDA in Ramnagar, only 60 have been handed over. The remaining 20 plots are reportedly encroached upon by a local figure, Prakash Yadav, who has constructed illegal slums on them and continues to collect rent from the residents, as claimed…

InfrastructureLatest Stories

Silchar to Fine Those Dumping Construction Waste Publicly

SILCHAR: In an effort to tackle rising civic violations and promote sustainable urban living, the Silchar Municipal Corporation (SMC) has implemented a strict crackdown on illegal dumping of construction and demolition waste in the area. This initiative is part of the broader “Swachh Sundor Silchar” mission aimed at enhancing cleanliness, urban aesthetics, and public health. In an official announcement, the SMC stated that unauthorized dumping and storage of construction materials like sand, bricks, and debris on roads, footpaths, drains, and public spaces will incur heavy fines. Offenders—including individuals, businesses, and contractors—may face immediate material seizure, fines, and potential legal actions…