Category: Latest Stories

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Housing FinanceLatest Stories

NHB directs housing finance firms to pay interest on advance EMIs

The National Housing Bank (NHB) has instructed housing finance companies to provide interest on advance payments made by borrowers that have not been immediately applied to their Equated Monthly Instalments (EMIs) and are instead held in sundry or suspense accounts, according to sources familiar with the situation. The interest should be paid at the same rate applicable to the customer’s home loan. This initiative aims to ensure fair lending practices and prevent borrowers from incurring excessive interest costs when their advance payments are not applied promptly. “NHB is fundamentally ensuring that housing finance companies cannot profit from holding onto customers’…

Latest StoriesRegulatory

Delhi HC notices police on Gopal Ansal’s FIR quashing plea

NEW DELHI: The Delhi High Court issued a notice to police on Monday regarding a petition filed by real estate mogul Gopal Ansal, who seeks to quash an FIR against him related to a cheating case stemming from the Uphaar fire tragedy. The FIR was prompted by a complaint from a buyer of land within a project managed by Ansal Buildwell Limited. Justice Amit Mahajan requested a status report from Delhi Police, with the hearing set for September 10. The High Court further instructed the state not to take coercive actions against the petitioner until the next hearing date. A…

IndustryLatest Stories

Lodha Developers reports ₹44.5 billion in Q1 FY26 pre-sales

NEW DELHI: Lodha Developers kicked off FY26 on a positive note, reporting pre-sales of ₹44.5 billion in Q1 FY26, marking a 10% increase year-on-year, despite temporary setbacks from geopolitical tensions early in the quarter. The company is optimistic about meeting its annual pre-sales target of ₹210 billion. During the quarter, collections reached ₹28.8 billion, a 7% growth compared to Q1 FY25. The company anticipates stronger inflows in the latter half of the financial year due to project completions and new launches. Lodha Developers introduced five new projects in Q1 FY26 across the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, boasting…

IndustryLatest Stories

Puravankara to Redevelop Eight Mumbai Societies

Representative image created by AI NEW DELHI: Puravankara has been chosen as the preferred developer for the redevelopment of eight residential societies in Chembur, Mumbai. This project will unlock a total development potential of over 1.2 million sq ft across approximately four acres, with an estimated gross development value (GDV) of ₹2,100 crore. Ashish Puravankara, Managing Director of the company, stated, “With 11 projects in Mumbai and Pune covering around 14 million sq ft—including 3.6 million sq ft in redevelopment—we are dedicated to expanding our presence in the western region. This area is projected to contribute a GDV of around…

IndustryLatest Stories

Indian Real Estate Attracts $1.80B in Institutional Investment Q2 2025

Representative image created by AI NEW DELHI: The Indian real estate sector secured institutional investments totaling $1.80 billion in Q2 2025, marking a 42% decrease year-over-year from the all-time high investments in any quarter. However, compared to the previous quarter, investments surged by 122%. While foreign investments remained prominent in Q2 2025, their share declined from 71% in Q2 2024 to 66%. In value terms, foreign investments fell by 46%, dropping to $1.19 billion from $2.21 billion. According to Shrinivas Rao, CEO of the firm, “This growth momentum is expected to persist, with several rating agencies forecasting economic growth exceeding…

IndustryLatest Stories

Mysuru Civic Body Launches Weekly e-Khata Drive Every Friday

MYSURU: The Mysuru City Corporation (MCC) has initiated an e-Khata campaign every Friday from 3 PM to 6 PM, aiming to make services more accessible to the public. This decision follows community frustration over delays in issuing e-Khatas, largely due to ongoing technical problems, particularly related to servers and logins, since early June. With about 1.7 lakh properties within MCC jurisdiction, only around 45,000 e-Khatas were issued by June 3. “Our goal is to issue at least 1 lakh e-Khatas by the end of this financial year,” stated Shaikh Tanveer Asif, MCC Commissioner. He assured that the city corporation is…

InfrastructureLatest Stories

Experts: Unregulated Approvals, Drain Encroachment Cause Waterlogging

Representative image created by AI BHUBANESWAR: Experts have linked the persistent waterlogging in various city areas to years of unchecked plan approvals and violations of the Command Area Development Authority’s (CADA) canal framework. According to specialists, CADA canals serve as natural drainage channels designed to manage rainwater effectively in planned regions. However, rapid construction has led to the elimination of these crucial canals. “Although CADA is commonly associated with irrigation, its significance extends to urban environments as well. Effective water management and distribution are vital in addressing stormwater runoff and wastewater issues,” stated real estate expert Bimalendu Pradhan. Pradhan noted…

InfrastructureLatest Stories

Mohali Seeks Bids for Aerotropolis Development Project

Representative image created by AI MOHALI: In a significant initiative to reshape Mohali’s urban environment, the Greater Mohali Area Development Authority (GMADA) has called for Expressions of Interest (EoIs) for the development of the Aerotropolis City project, which encompasses 5,500 acres near Shaheed Bhagat Singh International Airport. This development comes after the project received environmental clearance from the State Environment Impact Assessment Authority, clearing the last obstacle to commence physical development. The decision to start inviting bids was made by the secretary of housing following years of delays. According to GMADA officials, the Aerotropolis will be developed in phases, with…

Latest StoriesResidential

Gurugram: ROF Alante Residents Protest Poor Infrastructure

GURUGRAM: Tensions rose in Sector 44 as residents of the ROF Alante Society in Sector 108 protested outside the builder’s office, with police present, demanding essential infrastructure and an investigation into the project’s approval on Saturday afternoon. The residents raised concerns about the builder receiving a license and occupancy certificate (OC) without proper road access to the site. “The project was developed under Haryana’s affordable housing scheme, yet the developer has not provided necessary infrastructure, including a permanent 24-meter access road,” said resident Shivani Thusoo. Protesters were reportedly stopped by security at the builder’s office. Police soon arrived and spoke…