Category: Latest Stories

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Latest StoriesResidential

Goa to Legalize 1 Lakh Homes Built Before 1972

PANAJI: In a significant move to legalize homes under threat of demolition, the state government issued two circulars on Friday. One was from the revenue department, while the other came from the directorate of panchayat, aimed at legalizing over 100,000 illegal houses constructed on any land before 1972. Chief Minister Pramod Sawant clarified that these circulars don’t confer land ownership rights, but instead legitimize the structures and clarify the land status. “We are legalizing homes. The revenue department will issue a sanad, and the panchayat will confirm its legal status,” he stated. Sawant emphasized that with these circulars, there is…

Latest StoriesRera

U.P. RERA Recovers ₹1,410 Crore for Homebuyers

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has successfully recovered ₹1,410 crore from 5,700 recovery certificates to date. Of this, ₹861 crore has been collected in 3,053 cases from August 2023 to July 15, 2025, representing a significant 61% of the total recoveries made thus far. Recovery momentum continues to rise, as demonstrated by ₹380 crore recovered in 2023 and ₹463 crore in 2024. Between January 1, 2025, and July 15, 2025, ₹251 crore was recovered across 955 certificates, compared to ₹244 crore during the same period in 2024. Sanjay Bhoosreddy, chairman of UP-RERA, remarked, “This upward…

InfrastructureLatest Stories

Noida Link to Feature in Ghaziabad Metro Phase-V Plans

Representative Image GHAZIABAD: The long-awaited metro link from Noida to Ghaziabad is gaining momentum as the Delhi Metro Rail Corporation (DMRC) has proposed extending the Blue Line corridor to connect Noida Electronic City with Sahibabad under its Phase V expansion plans. More than 500,000 residents in areas like Indirapuram, Vasundhara, and Vaishali stand to benefit from this metro corridor, which will also function as an extension of the Namo Bharat corridor that runs through Sahibabad. Among the 18 corridors identified by DMRC and the Ministry of Housing and Urban Affairs for expansion in Delhi-NCR, four are located in Ghaziabad. Notably,…

Latest StoriesRegulatory

ED Investigates High-Rise Scam, Seizes Cash Linked to Official

HYDERABAD: The Enforcement Directorate (ED) has uncovered a series of questionable real estate transactions and seized Rs 72 lakh in unaccounted cash during investigations linked to the suspended HMDA director, Siva Balakrishna. The inquiry was triggered by an earlier FIR alleging illegal payments for the approval of a high-rise project by Udaya SSV Projects in Narsingi. This prompted the ED to carry out targeted searches, uncovering incriminating documents tied to several real estate deals and firms. The investigation is rooted in a disproportionate assets case initiated by the Anti Corruption Bureau. The latest searches took place on July 24 at…

Latest StoriesRera

Telangana RERA Penalizes Five Developers for Delays, Violations

HYDERABAD: The Telangana Real Estate Regulatory Authority (RERA) has recently imposed penalties on several real estate developers for infractions regarding the sale of villas, flats, and plots. The rulings were made between July 24 and 25, in response to complaints by dissatisfied consumers against five developers: Suvarnabhoomi Infra Developers Pvt Ltd (Banjara Hills), Maha Infra Developers (Kondapur), Edifice Projects Private Ltd (Jubilee Hills), 2getherments Infra Pvt Ltd, and Bhuvanteza Infraprojects Private Ltd. A complaint by B Suresh Goud and others against Suvarnabhoomi Infra and Maha Infra highlighted the failure to complete the Suvarna Sampada 2 project. Initial commitments required completion…

InfrastructureLatest Stories

Residents urge pollution board to control Kolkata construction noise

Representative image created by AI KOLKATA: Residents of a neighborhood in south Kolkata have contacted the state pollution control board, requesting it to manage noise pollution from construction activities, similar to its successful efforts in controlling dust pollution. Among the proposed solutions is the installation of sound suppression barriers at construction sites. In a letter addressed to PCB chairman Kalyan Rudra, a representative of the Hindustan Park residents’ association highlighted that the incessant high-decibel noise from local construction sites is overwhelming. Chartered Accountant Nina Ghosh from Hindustan Park mentioned that the use of jackhammers and the hammering of piling sheets…

Latest StoriesRegulatory

Odisha HC Cancels Land Deals in Baniapat Khuntapada, Keonjhar

CUTTACK: The Orissa High Court has annulled several land transactions pertaining to 4.40 acres of shared ancestral property in Baniapat Khuntapada and Keonjhar. The court noted that these transactions were marred by the intentional exclusion of heirs and procedural irregularities. As a result, the court has instructed the Keonjhar district collector to investigate the irregularities and take disciplinary measures against responsible officials. Additionally, the National Highways Authority of India (NHAI) has been ordered to halt any compensation payments for the land designated for a highway project and to recover any funds already disbursed. In a ruling dated July 18, Justice…

CommercialLatest Stories

IndiQube Spaces IPO Oversubscribed 12.33x on Closing Day

NEW DELHI: IndiQube Spaces Ltd’s initial public offering (IPO) was subscribed 12.33 times by the close of bidding on Friday. The IPO received bids for 21,14,96,292 shares, significantly surpassing the 1,71,48,335 shares available, as reported by NSE data. The portion for Qualified Institutional Buyers (QIBs) saw a subscription rate of 14.35 times, while Retail Individual Investors (RIIs) subscribed 12.55 times. The Non-Institutional Investors category saw a subscription rate of 8.24 times. On Tuesday, IndiQube Spaces announced that it raised over ₹314 crores from anchor investors. The Bengaluru-based firm’s ₹700-crore IPO features a price band of ₹225-237 per share, putting its…

CommercialLatest Stories

Mindspace REIT buys Q-City in Hyderabad for ₹511.8 crore

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has fully acquired Mack Soft Tech (MSTPL), which operates ‘Q-City’, a 0.81 million sq ft commercial property located in Hyderabad’s Financial District, for ₹511.8 crore. The acquisition was executed via Horizonview Properties, an asset special purpose vehicle of Mindspace REIT. The property will be rebranded as ‘The Square, 110 Financial District’ and currently boasts a 65% occupancy rate. The move bolsters Mindspace REIT’s presence in Hyderabad to over 16 million square feet overall. Ramesh Nair, CEO and MD of the company, remarked, “Acquiring the property at an 11.6% discount to an independent…

CommercialLatest Stories

Executive Centre India to raise ₹2,600 Cr via equity shares

NEW DELHI: Executive Centre India, part of the TEC Group and a provider of flexible workspaces, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The IPO involves a fresh issue of equity shares with a face value of ₹2 each, totaling up to ₹2,600 crore. The company aims to use the net proceeds to invest in its direct subsidiary, TEC Abu Dhabi, for part-payment of acquiring TEC SGP and TEC Dubai, which are currently held by one of its corporate promoters, TEC Singapore. The remaining funds will be used for general…