Category: Latest Stories

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IndustryLatest Stories

Omaxe to invest ₹1,200 crore in 450-acre Indore township

Representative image created by AI NEW DELHI: Omaxe, through its subsidiaries, plans to expand in Madhya Pradesh by acquiring a 450-acre land parcel along the Super Corridor in Indore. The company aims to develop an integrated township on this site with an estimated investment of ₹1,200 crore. The project will be executed in multiple phases and is anticipated to generate ₹2,500 crore in revenue over the next three years. Funding for the project will primarily come from internal accruals. The upcoming township will include a mix of residential plots and clusters, commercial and retail spaces, hospitality areas, as well as…

IndustryLatest Stories

Keystone Realtors’ Q1 FY26 Pre-Sales Surge 75% to ₹10.68B

NEW DELHI: Keystone Realtors has announced pre-sales of ₹10.68 billion in Q1 FY26, marking a 75% increase from ₹6.11 billion in Q1 FY25. The strong performance is attributed to consistent launch activity and a strategic focus on redevelopment carried over from the last fiscal year. Collections for the quarter were ₹5.75 billion, reflecting a 19% year-on-year growth, which highlights steady cash flow and strong customer confidence. Boman Irani, chairman & managing director of the company, stated, “We achieved pre-sales of ₹10.68 billion, demonstrating an impressive 75% year-on-year growth. This quarter, we launched three projects with an estimated gross development value…

Latest StoriesRegulatory

Mahesh Babu Receives Notice Over Fraud Complaint on Plot Sale

HYDERABAD: A consumer court has issued a notice to actor Mahesh Babu regarding a complaint against Sai Surya Developers, a real estate company he endorsed. This notice, from the Rangareddy District Consumer Disputes Redressal Commission, was prompted by a complaint from a local doctor claiming she was defrauded of 34.8 lakh after buying a non-existent plot. In this case, Sai Surya Developers is the first respondent, followed by its owner Kancharla Satish Chandra Gupta and Mahesh Babu as the third respondent. The complainant, along with her husband, was led to trust the company due to Mahesh Babu’s endorsement. After making…

IndustryLatest Stories

Maharashtra’s ‘One State, One Registration’ Scheme Delayed

PUNE: The “one state one registration” initiative, which aims to allow citizens to register property documents at any sub-registrar office in the state, is expected to encounter delays due to various legal, technical, and administrative challenges, according to senior officials. Ravindra Binwade, the inspector general of registration, informed TOI that while the concept is sound, several issues are still under evaluation. “The implementation of the one state one registration scheme might take longer than anticipated, as we need to address aspects such as jurisdiction in fraud cases and document verification,” he stated. This initiative is part of the state government’s…

Latest StoriesRegulatory

Court denies builder’s appeal on illegal work in Nandagiri Hills

HYDERABAD: A city court has dismissed a construction company’s appeal against the Greater Hyderabad Municipal Corporation (GHMC), which ordered a halt to construction and mandated the removal of all deviations at their 4.748-acre site in Nandagiri Hills, Shaikpet. Chief Judge K Kusha of the City Small Causes Court, Hyderabad, issued the ruling on July 4, supporting GHMC’s action against Net Net Ventures. The judge remarked that “the petitioner came to the court with unclean hands and failed to demonstrate a prima facie case to restrain the authorities.” The company, which had previously approached the Telangana High Court, was instructed to…

IndustryLatest Stories

Adani to Redevelop 142 Acres in Mumbai’s Motilal Nagar

Sure! Here’s a rewritten version of the content: — The Maharashtra Housing and Area Development Authority (MHADA) has partnered with Adani Properties to undertake a major redevelopment initiative in Motilal Nagar, a 142-acre area in Goregaon (West), Mumbai. This venture represents MHADA’s largest single redevelopment project to date. RealtyDailyNews initially reported on March 11 that Adani Properties secured the project by promising to provide 3.97 lakh square meters of housing, representing the highest share of Floor Space Index (FSI) allocated to MHADA. As part of the initiative, qualifying MHADA residents will be allotted new homes with a built-up area of…

InfrastructureLatest Stories

Thane Civic Body to Survey Unauthorized Structures in Yeoor

Sure! Here’s a rewritten version of the content: Representative image created by AI THANE: On Monday, Thane Municipal Commissioner Saurabh Rao mandated a thorough survey of all unauthorized residential and commercial constructions in the environmentally sensitive Yeoor area adjacent to Sanjay Gandhi National Park, set to be completed within a month. This decision addresses escalating concerns from locals and activists regarding the surge in illegal commercial activities—such as weddings, parties, and dining events—resulting in excessive noise and disturbances late into the night, all of which are prohibited in this eco-sensitive zone. Reports have indicated a decrease in animal sightings as…

Latest StoriesRegulatory

Nashik Civic Body Gathers ₹100 Crore in Property Tax Q2

NASHIK: The Nashik Municipal Corporation (NMC) achieved a property tax collection of Rs 100 crore in the April-June quarter of the 2025-26 financial year, a slight decline from the Rs 106 crore collected in the same period last year. Officials credit the collection to rebates of 6-8% for early tax payments. NMC offers various rebates for timely property tax payments: an 8% discount for payments made in April-May, 6% for June, and 3% for July, with the incentive program ending on July 31. Additionally, a 1% concession is available for online payments. Last year, NMC informed taxpayers through messages about…

IndustryLatest Stories

Adani Group Makes Unconditional Bid for Jaiprakash Associates

MUMBAI: The Adani Group has emerged as the sole bidder without conditions in the acquisition race for Jaiprakash Associates, submitting an offer of ₹12,600 crore during the ongoing insolvency proceedings. Competing bidders such as Dalmia Bharat, Vedanta, Jindal Power, and PNC Infratech have linked their proposals to resolving a significant land dispute related to the Gautam Buddh Nagar Sports City project, which is currently before the Supreme Court. Jaiprakash Associates has garnered five bids, with Dalmia Bharat leading the pack with an offer of ₹14,600 crore, inclusive of the disputed land parcel. However, should the land conflict remain unresolved, Dalmia’s…

Latest StoriesResidential

300+ Defaulters Risk Losing Lucknow Development Flats

LUCKNOW: The Lucknow Development Authority (LDA) is set to cancel the allotments of 338 defaulters from various housing schemes due to their failure to pay the full amount for their flats. Some allottees have contributed as little as 40%. Final notices are being issued, followed by the revocation of these allotments. The vacated units will be offered for sale through a ‘first come, first served’ method and an e-auction. Preparations are also in progress to open registration for 72 under-construction EWS (Economically Weaker Section) flats in Dalibagh. Constructed at a cost of Rs 5.5 crore on a 2,314 sq metre…