Category: Latest Stories

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Latest StoriesRegulatory

Two Builders Arrested in Delhi Collapse that Killed Six

NEW DELHI: On May 30, the Delhi Police arrested a builder and a contractor over the collapse of a multi-storey building in Saidulajab, which resulted in six fatalities and eight injuries, officials announced on Tuesday. The suspects, identified as Avinash Gupta and Manish Khatri, were allegedly linked to the building’s construction and were taken into custody in various locations around the city. Investigators are currently questioning them regarding the construction process, permissions obtained, and their roles in the unauthorized addition of extra floors. Previously, the police had apprehended Karamveer, the building’s owner. During questioning, he indicated that construction on the…

InfrastructureLatest Stories

Nagpur Demolishes 67 of 278 Dilapidated Buildings Before Monsoon

NAGPUR: As the monsoon approaches, numerous families residing in or around unsafe buildings are at risk. The Nagpur Municipal Corporation (NMC) has identified 278 dilapidated structures for the 2025-26 period, but only 67 have been demolished to date. According to data from the civic body’s fire and emergency services department, many hazardous buildings remain, raising concerns for public safety during the rainy season. The highest number of unsafe structures is in the Gandhibagh zone, where 137 buildings have been marked as hazardous. However, only 21 have been demolished, with 108 cases still pending action and four appeals under review, as…

CommercialLatest Stories

Wadhwa Group Leases 33,000 sq ft Office in Mumbai for ₹44 Crore

NEW DELHI: The Wadhwa Group has leased approximately 33,000 square feet of office space to the global investment research firm Morningstar at its commercial project in Mumbai, totaling a rental agreement of Rs 44 crore over a nine-year period. Based in Mumbai, Wadhwa Group specializes in residential, commercial, and township projects, having completed over 220 projects across the Mumbai Metropolitan Region (MMR), featuring a total area of 45 million sq ft. Morningstar has also leased an additional 32,551 sq ft at Wadhwa Group’s Vishwaroop IT Park (VITP) project in Vashi, Mumbai. A spokesperson for the company opted not to comment.…

Latest StoriesRegulatory

ED Seizes ₹100 Crore in Jaypee Properties, Alleges Gaur Laundering

NEW DELHI: The Enforcement Directorate (ED) has attached assets worth Rs 100 crore belonging to two real estate firms associated with Jaypee Infratech Ltd (JIL). The agency has accused JIL and its promoters of laundering part of the Rs 33,000 crore collected from homebuyers for the construction of flats in Jaypee Wish Town, which spans 1,162 acres in Noida along the Noida Expressway. “The investigation revealed that out of Rs 32,825 crore collected by Jayprakash Associates Ltd (JAL) and JIL from homebuyers, substantial amounts were misappropriated for non-construction purposes and transferred to related companies, such as JC World Hospitality Pvt…

IndustryLatest Stories

Delhi CM: No Demolition of O-Zone Colonies

NEW DELHI: Delhi Chief Minister Rekha Gupta announced on Tuesday that there will be no demolition actions against existing constructions in the colonies and villages within the O-Zone area. In a meeting held at the Secretariat, Gupta discussed the matter with senior officials and public representatives, including MPs Manoj Tiwari and Ramvir Singh Bidhuri, MLA Arvinder Singh Lovely, as well as senior officers from the Municipal Corporation of Delhi (MCD) and the Delhi Development Authority (DDA). Approximately 91 unauthorized colonies and a dozen old villages, housing around 15 lakh people, are located in the O-Zone area, which encompasses the eco-sensitive…

Latest StoriesResidential

Odisha Cabinet Approves Lower Stamp Duty for EWS Housing

BHUBANESWAR: The state cabinet has approved a significant reduction in stamp duty and registration fees for the Economically Weaker Section (EWS) beneficiaries of Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0 and other state affordable housing schemes. This decision is aimed at alleviating financial burdens. In accordance with the guidelines from the Union housing ministry, states are expected to limit these charges to below 1% for dwelling units up to 60 sqm under PMAY-U 2.0. Currently, stamp duty and registration fees in Odisha vary between 6% and 7%. With the new provision, these fees will be lowered to between 0.6% and 0.7%,…

Latest StoriesRegulatory

ED Raids Punjab, UP in Sanjeev Arora Case

JALANDHAR: The Enforcement Directorate launched new searches on Tuesday as part of a money laundering investigation involving Punjab Minister Sanjeev Arora and others in connection with a suspected ₹100 crore GST fraud linked to mobile phone sales. Authorities revealed that approximately six locations in Jalandhar, Ludhiana (Punjab), Bareilly, and Noida (Uttar Pradesh) are being examined. The searches target both residences and business offices associated with the individuals and entities under scrutiny, including Hampton Sky Realty Ltd., a company linked to Arora. Arora, 62, was arrested by the central agency last month after extensive searches at his official residence in Chandigarh,…

IndustryLatest Stories

Chennai Developers Warn of Rising Home Prices Due to Material Costs

A ₹1 crore house may soon see a price hike of about 10% due to a more than 23% rise in construction material costs. Industry experts point to escalating prices of gelatin and diesel, linked to the West Asian conflict, and a supply shortage caused by the shutdown of unauthorized quarries. They caution that these increased material costs are likely to be passed on to homebuyers. Recent price adjustments indicate significant rises in various construction inputs such as ready mix concrete (RMC), M-sand, P-sand, aggregates, and materials for road construction. For instance, the price of RMC has surged by ₹300…

CommercialLatest Stories

TCS Renews Chennai Office Lease: 1.5M Sq Ft for ₹1,420 Crore

MUMBAI: Tata Consultancy Services (TCS) has renewed its lease for nearly 1.5 million sq ft of office space in Chennai, with a total rental commitment of approximately Rs 1,420 crore over a decade. This move underscores the company’s long-term dedication to one of its key operational hubs. This lease renewal stands out as one of the largest reported in India, especially amid rising concerns about artificial intelligence’s effects on employment in the tech sector. Many global and Indian IT firms have reported productivity improvements due to AI-driven automation, sparking discussions about potential workforce reductions and decreased hiring. The lease pertains…

Latest StoriesResidential

Bengaluru: Bescom Extends OC Relief for Pre-May 31 Buildings

BENGALURU: After days of speculation, Bescom has provided significant relief to homeowners regarding occupancy certificate (OC) requirements. The power utility has announced that residential properties up to 2,400 sqft within the Greater Bengaluru Authority will no longer need an OC to secure a permanent electricity connection, regardless of whether they applied before May 31, 2026. This decision expands the state government’s recent easing of OC regulations and resolves confusion caused by earlier stipulations that seemed to limit this benefit to applications submitted before May 31. The confusion stemmed from the Karnataka government’s announcement, following Chief Minister DK Shivakumar’s directive, which…