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IndustryLatest Stories

Puravankara Q1 FY26 Pre-sales Reach ₹1,124 Crore

NEW DELHI: Puravankara has announced pre-sales of ₹1,124 crore for Q1 FY26, marking a 6% year-over-year increase, despite no new project launches this quarter. This achievement is driven by a 9% increase in average price realization, now at ₹8,988 per sq ft, complemented by consistent sales across existing projects. Sales volume reached 1.25 million sq ft, with collections amounting to ₹857 crore. The company is enhancing its development pipeline, adding projects with a total projected gross development value (GDV) of ₹3,100 crore. This includes the redevelopment of eight housing societies in Chembur, Mumbai, covering four acres and offering over 1.2…

IndustryLatest Stories

Maharashtra CM to Seek Bombay HC Nod for Slum Rehab on Forest Land

File Photo MUMBAI: The state government is planning to petition the Bombay High Court for permission to undertake slum rehabilitation on portions of forest land currently occupied by slums. Chief Minister Devendra Fadnavis stated on Wednesday that any remaining land will be dedicated to forest regeneration. This statement came while he addressed queries concerning the implementation of postpaid smart meters for electricity consumption during a motion in the state legislative council. BJP’s Pravin Darekar highlighted that numerous slum households situated between Goregaon and Dahisar, as well as in Thane, occupy forest land, including private forest areas. He noted that these…

IndustryLatest Stories

Peninsula Land Purchases Land in Alibaug and Karjat

Representative image created by AI NEW DELHI: Peninsula Land, a part of the Ashok Piramal Group, has successfully acquired two land parcels—11 acres in Sogaon, Alibaug and approximately 29 acres in Bhilawale, Karjat. Rajeev Piramal, CEO and Managing Director of the company, stated, “This is the initial deployment of capital from our real estate platform and underscores our commitment to expanding our plotted development business.” Recently, the company established a real estate development platform worth INR 765 crore through a partnership with investors Alpha Alternatives and Delta Corp. Published On Jul 10, 2025 at 03:28 PM IST Join the community…

Latest StoriesRera

MahaRERA Initiates Statewide Verification of Developer OCs

Certainly! Here’s a rewritten version of the content you provided: PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has launched a statewide verification process for 2,600 Occupancy Certificates (OCs) submitted by developers through its official portal. These certificates are being sent to the relevant planning authorities for validation to prevent any potential discrepancies or forgeries, as reported by officials on Saturday. This initiative follows the repercussions of the Dombivli scam, where developers allegedly utilized falsified approvals to construct illegal buildings across numerous projects. This crackdown is a direct consequence of the 2022 Kalyan-Dombivli Municipal Corporation (KDMC) scandal, which involved 65…

IndustryLatest Stories

Noida Authority May Contest HC Ruling on Lease Rent Waivers

NOIDA: The Noida Authority has opted to challenge an Allahabad High Court ruling that annulled the state’s decision to revoke lease rent waivers previously granted to various real estate firms under the “zero period” policy. This policy is designed to offer relief against delays that developers cannot control, emphasizing the need to protect revenue and maintain policy consistency. During a meeting on June 14, the Authority’s board decided to contest the High Court’s April 23 decision, made in response to a petition by Greatvalue Projects India. The Authority asserts that the lease rent waivers contradict its established policy, which categorically…

Latest StoriesResidential

Maharashtra CM to Inaugurate BDD Flats in Worli on July 21

Representative image created by AI MUMBAI: Chief Minister Devendra Fadnavis is set to distribute keys for the first batch of BDD flats in Worli on July 21, shortly after the conclusion of the legislative session. Plans for a function have been made where the CM will hand over several keys. Milind Borikar, Chief Officer of the Mumbai Board at Mhada, stated that 556 flats, each with a carpet area of 500 sq ft, will be allocated in this initial phase. “By the end of the year, we anticipate receiving 3,989 flats across three sites,” Borikar added. While preparing to hand…

Latest StoriesRera

Only 30% of MahaRERA Recovery Warrants Executed; ₹527 Crore Pending

PUNE: The progress of MahaRERA in executing recovery warrants has been sluggish, with only 31% of cases resolved. Although the state government has instructed that these cases be handled within three months, officials informed TOI that merely Rs 233 crore has been recovered from the Rs 760 crore due in 1,212 cases across Maharashtra. This slow progress contradicts the revenue minister Chandrakant Bawankule’s promise during the state budget session, where he highlighted the need for faster execution of MahaRERA’s recovery warrant orders to clear the backlog within three months. The recovery warrants are issued under Section 40(1) of the Real…

Housing FinanceLatest Stories

IIFL Home Finance Secures $100M Loan from AIIB

The Abu Dhabi Investment Authority (ADIA)-backed IIFL Home Finance has secured a $100 million loan from the Asian Infrastructure Investment Bank (AIIB). This funding aims to support economically weaker segments in India and assist builders of low-cost housing. This marks AIIB’s first funding to IIFL Home Finance, as reported by CEO Monu Ratra. “The ECB from AIIB is noteworthy because we can finance developers focused on affordable housing. This will help address the shortage of affordable homes in high-demand areas. Additionally, these funds will be used for retail affordable home loans,” Ratra stated. The loan is structured for a five-year…

IndustryLatest Stories

CIDCO Approves Conversion of Leasehold to Freehold Plots

Representative image created by AI The Maharashtra government has taken a notable step to enhance property ownership rights by converting residential plots allocated by the City and Industrial Development Corporation (CIDCO) from leasehold to freehold. This decision is poised to affect plot owners in Navi Mumbai and other areas developed by CIDCO. To facilitate the implementation of this directive, CIDCO has established a dedicated committee to oversee and review applications for these conversions. This scheme is applicable to residential plots awarded through the tender process, CIDCO-built housing projects, and those allotted under the 12.5% and 22.5% land allotment schemes. Eligible…

Latest StoriesResidential

Ghaziabad Orders Residents to Demolish 172 Houses in 15 Days

GHAZIABAD: The Ghaziabad Development Authority (GDA) has issued demolition notices to 172 households in the Babu Jagjivan Ram Colony located in Rajendra Nagar. The GDA asserts that this colony occupies 2,864 sqm of land originally designated as a park around 50 years ago. Residents have been granted a 15-day period to demolish their homes, failing which the GDA will initiate demolition efforts. An official from the GDA indicated that a petition was filed with the National Green Tribunal (NGT) in 2023, bringing this issue to public attention. The original case is ongoing. “In 2024, a meeting, chaired by the then…