Category: Latest Stories

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InfrastructureLatest Stories

783 CRZ Buildings Notified, 44 Demolished: Maharashtra Minister

MUMBAI: A total of 783 buildings in coastal regulation zone (CRZ) areas across 10 civic wards have been served showcause notices, with 44 structures already demolished, according to state revenue minister Chandrashekhar Bawankule. Some cases are currently in court. A statement presented to the legislative council regarding the forged map scandal, brought to light by citizen Vaibhav Thakur, revealed that the special investigation team (SIT) formed at the request of the Bombay High Court has arrested 23 individuals, with three more still at large. Of those arrested, 12 are private citizens, two are officers, seven are employees, and two are…

IndustryLatest Stories

Prayagraj Highrises to Face Mandatory Safety Audits

PRAYAGRAJ: New regulations are set to enhance the safety of high-rise buildings in the city, making structural safety audits mandatory. Under these guidelines, all buildings taller than 15 meters must undergo a safety audit 10 years after their completion, followed by audits every five years. This initiative comes in response to safety concerns and previous fire incidents in multiple high-rise structures in the area. In the last two decades, many tall buildings have been built in Prayagraj, yet most have never undergone formal safety assessments post-construction. Previously, only a single No Objection Certificate (NOC) from a structural engineer was required…

Latest StoriesRera

RERA to Manage Real Estate Registrations in Meghalaya

SHILLONG: The Real Estate Regulatory Authority (Rera) of Meghalaya will manage the registration of real estate projects, promoters, and agents, according to an official statement released on Friday. The Government of Meghalaya established Rera on February 18, 2020, under the Real Estate Regulation and Development Act, 2016, with the aim of fostering a transparent, accountable, and efficient real estate sector. RERA will ensure compliance with the provisions of the Act, implement an internal adjudicating mechanism for prompt resolution of disputes, and protect home buyers’ interests through regulatory oversight, as highlighted in the official statement. The authority consists of a full-time…

IndustryLatest Stories

Ludhiana Civic Body Overwhelmed by Property Tax Hike Queries

LUDHIANA: Following the announcement of a 5% increase in property tax, civic officials are fielding numerous inquiries from residents regarding potential new tax payments. The state government’s notification specifies that the revised rate will take effect from April 1. However, officials from the Municipal Corporation (MC) clarified that this increase has been in place since 2021 and is already being collected. This recent notification stems from a letter issued in 2021, allowing the state government to access additional borrowing from the central government under various schemes. The local bodies department’s letter indicates that, for ULBs (Urban Local Bodies) to qualify…

Latest StoriesResidential

Lloyds’ Promoter Family Buys Altamount Road Apartments for ₹227 Cr

Ravi Agarwal, a member of the Lloyds Group promoters, along with his family, has purchased six luxurious sea-view apartments, including a seven-bedroom duplex, in the Kalpataru Prive tower on Altamount Road in South Mumbai for over ₹227 crore. The family has acquired approximately 18,000 sq ft of space, spanning the 18th to 23rd floors of this under-construction premium tower, which is valued at ₹1.27 lakh per sq ft. This transaction ranks among the most expensive and largest residential deals in India this year. The buyers incurred a stamp duty of nearly ₹13.29 crore for the registration of these transactions that…

Latest StoriesRera

Odisha RERA Reforms Boost Benefits for Buyers

BHUBANESWAR: In addition to the Apartment Ownership Act, the Odisha Real Estate Regulatory Authority (ORERA) has introduced significant reforms aimed at safeguarding the interests of homebuyers while transforming its operational framework amidst a burgeoning real estate market. A central change includes the integration of local enforcement units with ORERA, significantly boosting its capacity to enforce orders effectively. Moreover, these reforms go beyond just structural modifications. District collectors are mandated to incorporate RERA provisions into their monthly reviews and to report any illegal constructions. The housing and urban development department will coordinate with the revenue and disaster management department to ensure…

InfrastructureLatest Stories

New Town Plans in Ahmedabad Require 5% Green Cover

AHMEDABAD: The Ahmedabad Municipal Corporation (AMC) is poised to introduce significant greening initiatives aimed at enhancing the urban environment, with Chief Minister Bhupendra Patel set to present the draft policies on July 19. The new ‘Greening Policy Measures for a Greener Ahmedabad’ mandates that all new town planning schemes allocate 5% of the total land for green cover. Within this allocation, 1% must be specifically designated for urban forests using the Miyawaki technique, which allows for rapid and dense planting. This policy extends existing state government requirements. Previously, the state’s Town Planning Act permitted a maximum of 5% land reservation…

IndustryLatest Stories

Ashwin Sheth Group Buys 4.05 Acres in Goregaon West, Mumbai

NEW DELHI: Ashwin Sheth Group has secured development rights for a 4.05-acre site from Mhada and intends to launch a residential project in Siddharth Nagar, Goregaon West, Mumbai. The project, with a gross development value (GDV) of ₹3,800 crore, will comprise five towers, including four 44-floor towers and a distinctive 60-floor tower, along with dedicated retail space. The development will provide approximately 12 lakh sq ft of carpet area, featuring 2, 3, and 4-bedroom residences ranging from 800 to 1600 sq ft. Published On Jul 18, 2025 at 01:00 PM IST Join over 2M industry professionals. Subscribe to our newsletter…

IndustryLatest Stories

Sunteck Realty Q1 FY26 Profit Up 47% to ₹33.43 Crore

Sure! Here’s a rewritten version of the content: NEW DELHI: Sunteck Realty Ltd has announced a 47% increase in consolidated net profit, reaching ₹33.43 crore in the first quarter of the current fiscal year. In the same period last year, the net profit was ₹22.78 crore. However, total income decreased to ₹201.53 crore in the April-June quarter of 2025-26, down from ₹328.01 crore in the corresponding quarter of the previous year, as noted in a regulatory filing on Thursday. Sunteck Realty is recognized as one of the prominent real estate companies in India, having developed numerous projects in the Mumbai…

IndustryLatest Stories

Maharashtra Extends Nazul Land Amnesty Scheme for One Year

NAGPUR: The Maharashtra government has decided to extend its special amnesty scheme for nazul land leases for another year. This move comes after Nagpur Central MLA Pravin Datke emphasized the positive public feedback and significant revenue generation from the scheme. The extension was confirmed during a meeting led by Revenue Minister Chandrashekhar Bawankule at the state legislature on Thursday. Initially launched on March 16, 2024, the scheme enables residents in the Nagpur and Amravati regions to convert nazul land leases into permanent Class-1 ownership rights by paying only 2% of the current market rate, a decrease from the previous 5%.…