Category: Latest Stories

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Housing FinanceLatest Stories

EQT Acquires Niwas Housing Finance

Swedish fund EQT has successfully acquired Niwas Housing Finance Limited, previously known as Indostar Home Finance, from IndoStar Capital Finance Limited, as stated by the company. EQT plans to invest ₹500 crore (approximately $58 million) to fuel Niwas’s geographic expansion and enhance its digital capabilities. Established in 2017, Niwas offers affordable mortgage solutions to retail customers in tier 2 to tier 4 cities across India and has assisted over 47,000 low-income homeowners and small enterprises. As of March 31, 2025, Niwas boasts assets under management exceeding ₹3,000 crore, which consists of granular, retail, and secured loans. K.R. Kamath, Chairperson of…

Latest StoriesRegulatory

Special Team Formed to Investigate Madurai Property Scam: HC

MADURAI: On Thursday, the Madras High Court instructed the Inspector General of Police (South Zone) and the Madurai City Police Commissioner to form a special investigation team led by a senior IPS officer of proven integrity to investigate the property tax scam in Madurai Corporation and report back to the court. A division bench comprising Justice S.M. Subramaniam and Justice A.D. Maria Clete noted that the petitioner, T. Ravi, an AIADMK councillor from Ward 83 of Madurai Corporation, claimed it was a significant scam and raised concerns over delays in registering an FIR, casting doubt on the investigation’s fairness due…

IndustryLatest Stories

Goa forms expert panel to examine illegal homes on private land

PANAJI: In response to growing concerns regarding unauthorized structures on comunidade land, the government has established a 10-member expert committee to investigate the inappropriate usage and illegal construction of residential houses on non-government land. The committee, led by additional collector Gurudas Desai as the member secretary, will assess the current usage of state land and recommend sustainable land management policies. “The revenue department is keen for experts to examine cases where residential homes have been built on non-government land without ownership rights and to propose relevant legal, policy, or administrative measures for granting ownership and legalizing such properties, considering eligibility…

Latest StoriesResidential

Rent Compensation for Residents to Be Finalized by Month-End

NEW DELHI: The Resident Welfare Association (RWA) of Signature View Apartments in Mukherjee Nagar announced on Thursday that the Delhi Development Authority (DDA) has guaranteed that rent compensation for all residents will be disbursed by the end of this month. The DDA issued an e-tender in March to demolish the Signature View Apartments, which consists of a 336-flat complex declared structurally unsafe. Developed in the mid-2000s under a DDA housing scheme, the apartments have suffered significant structural deterioration, including serious cracks in walls and ceilings, raising safety alarms. Amrendra Singh Rakesh, president of the RWA, informed PTI that residents have…

Latest StoriesRegulatory

Bank Fined by Consumer Forum for Losing Property Papers

GHAZIABAD: The District Consumer Disputes Redressal Commission (DCDRC) has ordered Noida Commercial Cooperative Bank to pay ₹25,000 in compensation for the mental distress caused by the loss of a customer’s original property documents. An additional ₹5,000 has been charged for litigation costs. The bank, which acknowledged misplacing several files during an office relocation in 2011, is also required to provide a certified duplicate of the petitioner’s property registration, ensuring no misuse of the lost original deed occurs. Ramesh Chandra Singh, a resident of Ghaziabad, sought the commission’s intervention to obtain his original property deed, which had been mortgaged for a…

IndustryLatest Stories

Godrej Properties Acquires 48 Acres in Bengaluru

Representative image NEW DELHI: Godrej Properties (GPL) has secured a 48-acre land parcel in Doddaballapur, North Bengaluru, via outright purchase. The planned development will mainly consist of plotted units, boasting a development potential of 1.1 million sq ft. Gaurav Pandey, MD & CEO of the company stated, “This investment emphasizes our aim to bolster our presence in crucial growth corridors with well-planned residential communities. Bengaluru remains a key market for us.” Additionally, the company recently acquired 50 acres of land in Raipur, set to include primarily plotted residential units with an estimated saleable area of 9.5 lakh sq ft. Published…

CommercialLatest Stories

IndiQube Spaces’ ₹700-crore IPO Launching July 23

NEW DELHI: IndiQube Spaces, a workplace solutions provider, has set a price range of Rs 225 to Rs 237 per share for its Rs 700-crore initial public offering (IPO). The IPO will be open for public subscription from July 23 to July 25, with bidding for anchor investors starting on July 22, as announced by the company. At the upper limit of the price range, the company’s valuation is estimated at nearly Rs 5,000 crore. IndiQube aims to raise Rs 650 crore from a fresh issue, while promoters will sell shares worth Rs 50 crore as part of the offer…

Latest StoriesRera

Maharashtra Minister: RERA Can Act Against Developers

MUMBAI: Maharashtra Minister Uday Samant informed the assembly on Thursday that the Real Estate Regulatory Authority (RERA) has the authority to enforce actions against developers for any violations. Responding to a calling attention motion raised by MLA Gajanan Lavate, he emphasized that registration under RERA is a mandatory requirement for all developers. Complaints concerning building permissions in the Akot Municipal Council area were addressed during a hearing on December 7, 2022, held at the Akola District Collector’s office. The minister mentioned that the applicant requested construction permission on March 31, 2021, including documents related to land demarcation (gunthewari) from 2007-08.…

CommercialLatest Stories

WeWork India Receives Sebi Approval for IPO

NEW DELHI: WeWork India, a provider of flexible workspaces, has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The offering will be conducted entirely through an offer for sale (OFS) route, with no new equity issuance as stated in the company’s draft red herring prospectus (DRHP). The IPO includes an OFS of up to 4.37 crore equity shares, each with a face value of ₹10. The selling shareholders, Embassy Buildcon LLP and 1 Ariel Way Tenant, will offload up to 3.34 crore shares and 1.03 crore shares, respectively. Notably, the company…

IndustryLatest Stories

Kalpataru Q4 FY25 Profit Falls 42% to ₹14 Crore

NEW DELHI: Realty firm Kalpataru Ltd has reported a 42% decline in its consolidated net profit, dropping to Rs 14.05 crore in the fourth quarter of FY25. In the same period last year, the Mumbai-based company had a net profit of Rs 24.30 crore. However, total income increased to Rs 667.21 crore for the January-March quarter of the 2024-25 fiscal year, up from Rs 535.22 crore in the corresponding period last year, according to a regulatory filing. During the entire 2024-25 fiscal year, Kalpataru Ltd reported a net profit of Rs 21.62 crore, recovering from a loss of Rs 94.98…