Category: Latest Stories
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MahaRERA Lists 1,244 ‘Under Abeyance’ Projects in Pune
Representative image created by AI PUNE: The Pune district is facing a significant issue with 1,244 real estate projects currently under ‘abeyance’ as designated by MahaRERA, disallowing any new bookings or sales. This status indicates that these projects have either not received completion certificates or have failed to secure deadline extensions, leaving many buyers with their investments in limbo. One impacted buyer, an IT professional after 11 years, has yet to take possession of his apartment in a project located at the Sinhagad foothills. Despite several favorable orders from MahaRERA, the project remains incomplete, and a refund has not been…
Arvind SmartSpaces Q1 FY26 Net Profit at ₹11.96 Crore
NEW DELHI: Arvind SmartSpaces has announced a significant growth of 159.44% in its net consolidated profit for the quarter ending June 30, 2025. The company’s profit after tax for Q1 FY26 reached ₹11.96 crore, a substantial increase from ₹4.61 crore in the same quarter the previous year, as reported in a BSE filing. The net consolidated total income for the company was ₹106.39 crore in Q1 FY26, reflecting a growth of 37.79% compared to ₹77.21 crore in the corresponding quarter last year. Kamal Singal, Managing Director of Arvind SmartSpaces, stated, “In Q1, revenue rose 37% year-on-year to ₹102 crore, adjusted…
Omaxe Group Raises ₹500 Crore from Oaktree
Representative image created by AI NEW DELHI: The Omaxe Group has successfully secured ₹500 crore in funding from Oaktree Capital Management L.P. The financing will expedite the completion of residential, commercial, and public-private partnership (PPP) projects, enhancing the company’s infrastructure and growth initiatives. “This capital infusion allows us to accelerate construction, lessen market reliance, and strategically invest in new ventures aligned with our core markets,” stated Mohit Goel, the company’s Managing Director. Atul Banshal, the Finance Director, mentioned, “We have made significant strides to fortify our balance sheet and enhance financial flexibility in recent years, repaying substantial debt while maintaining…
BGO and Aditya Birla Sun Life AMC Provide ₹350 Crore to Namo Realtech
Representative image created by AI NEW DELHI: BGO and Aditya Birla Sun Life AMC have invested ₹350 crore in debt funding for Namo Realtech to support its growth in the real estate sector. Mohit Jain, Managing Director of Namo Realtech, stated, “This investment will enable us to fast-track our upcoming projects that are already in advanced stages of discussions with potential partners.” With this deal, Namo Realtech has secured commitments totaling $100 million for ten projects, managing around 7.8 million sq ft of real estate. Additionally, in collaboration with Max Estates, the company plans to launch a residential project in…
Akshay Kumar Sells Mumbai Properties for ₹7.1 Crore
NEW DELHI: Akshay Kumar has sold two adjacent residential properties in Sky City, developed by Oberoi Realty, for a combined total of ₹7.10 crore in Borivali East, Mumbai. Both sales were recorded in June 2025. As per documents from the Inspector General of Registration (IGR) examined by Square Yards, the first property is valued at ₹5.75 crore and features a carpet area of 1,101 sq ft (102 sq meters) along with two car parking spaces. The transaction included a stamp duty of ₹34.50 lakh and registration fees of ₹30,000. Akshay Kumar originally acquired this property in 2017 for ₹3.02 crore,…
Delhi allocates ₹700 crore for slum development: CM
NEW DELHI: Chief Minister Rekha Gupta announced on Monday that her government has allocated ₹700 crore in the budget for the development of slum settlements. “Whenever slums need to be removed for any reason, we ensure that houses are provided to eligible residents so they can truly feel like citizens of the national capital,” she stated. Gupta warned slum dwellers against being misled by the AAP, claiming that during their tenure, they only viewed slum residents as vote banks and promoted alcohol in these areas. “Now that the current government is implementing development schemes for slum communities, they are attempting…
Ludhiana Suvidha Kendras Now Open Weekends for Property Tax
LUDHIANA: To facilitate timely submission of pending property taxes, MC commissioner Aaditya Dachalwal has announced that zonal suvidha kendras will remain open on Saturday, July 26, and Sunday, July 27. This decision was made as July 31 marks the final date for property tax payments without incurring penalties or interest under the state’s one-time settlement (OTS) policy. Officials indicated that property taxes should be paid on a self-assessment basis annually. Failure to pay will result in a 20% penalty and 18% annual interest on the outstanding amount. Under the OTS policy, residents can settle their pending tax by July 31,…
SIT Established to Investigate Property Tax Scam: State to HC
MADURAI: The state informed the Madras High Court on Friday that a Special Investigation Team (SIT), led by Deputy Inspector General of Police, Madurai Range, Abhinav Kumar, has been formed to investigate the property tax scam in the Madurai Corporation. In light of these updates, a division bench comprising Justice S M Subramaniam and Justice A D Maria Clete directed authorities to submit a progress report on the investigation and postponed the hearing for two weeks. The court was addressing a public interest litigation submitted by T Ravi, an AIADMK councillor from Ward 83 of the Madurai Corporation. The petitioner…
Lodha Developers’ Q1 FY26 Net Profit Soars 41.86%
NEW DELHI: Lodha Developers, previously known as Macrotech Developers, has reported a significant increase of 41.86% in its net consolidated profit for the quarter ending June 30, 2025. The profit after tax reached ₹675.10 crore in Q1 FY26, compared to ₹475.90 crore during the same period last year, as stated in a BSE filing. In Q1 FY26, the company’s net consolidated total income also rose to ₹3,624.70 crore, marking a growth of 24.21% from ₹2,918.30 crore in the corresponding quarter of the previous fiscal year. Abhishek Lodha, the MD & CEO, remarked, “Q1 FY26 has showcased our best-ever first quarter…