Category: Latest Stories

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Latest StoriesRegulatory

Bombay HC: Banks Can’t Claim Priority on PMLA-Attached Properties

NAGPUR: The Nagpur bench of the Bombay High Court has delivered a landmark ruling affecting financial institutions and the Enforcement Directorate (ED). The court determined that banks’ recovery laws cannot supersede the Prevention of Money Laundering Act (PMLA), highlighting the government’s priority action against ‘proceeds of crime’. A division bench consisting of Justices Mukulika Jawalkar and Nandesh Deshpande annulled an order from the appellate tribunal that permitted banks, including HDFC Bank and Punjab National Bank, to enforce secured interests over properties seized by the ED in a money laundering case involving alleged misconduct in coal block allocation. The court declared…

IndustryLatest Stories

Rushed Opening? Wayanad Township Project Slows Down

KOZHIKODE: None of the recipients have moved into the initial set of 178 houses designated for survivors of the 2024 Wayanad landslides. This lack of occupancy stems from ongoing work, inciting a political uproar. The opposition has criticized the government for launching the project before its completion, labeling it a pre-election tactic. Chief Minister Pinarayi Vijayan handed over the keys to the homes under the model township initiative at Elstone Estate in Kalpetta on March 1. During the inauguration, the Chief Minister stated that the project was designed to ensure all affected individuals would be rehabilitated before the monsoon season.…

Latest StoriesRegulatory

Bombay HC Report on MHADA 79A: 13K Unsafe Mumbai Buildings at Risk

MUMBAI: In a crucial update that may shape the future of redevelopment across the city, a committee established by the Bombay High Court has delivered its findings on March 5, 2026, examining contentious notices issued under Section 79A of the MHADA Act. The court is poised to hear this matter and decide if the halted redevelopment of numerous unsafe buildings can continue, impacting over 13,000 ageing structures and countless residents living in hazardous conditions. This comes just ahead of the looming monsoon season. The heart of the issue lies with Section 79A, a legal provision enacted in 2020 to expedite…

Latest StoriesRegulatory

Hyderabad Civic Body Locks 100+ Properties for Tax Dues

HYDERABAD: As the financial year nears its conclusion, the Greater Hyderabad Municipal Corporation (GHMC) is intensifying its actions against long-time property tax defaulters. To date, over 100 significant commercial properties have been sealed, with the GHMC aiming to recover hundreds of crores in unpaid taxes. The GHMC reports that over 30,000 commercial entities—spanning luxury hotels, retail chains, and small shops—have neglected to settle their tax dues. The civic body is now concentrating on the most egregious offenders, sealing their premises to facilitate payment. This crackdown follows numerous ignored notices issued over the years. Notable cases include the Katriya Hotel in…

Latest StoriesResidential

Pune Groups to Urge Police for FIRs Against Builders Violating Water Rules

PUNE: Citizen groups and housing federations in Pune and surrounding areas are planning to file FIRs against developers who have breached water supply affidavits when seeking building permits. The initiative seeks to hold builders accountable for failing to deliver the promised water infrastructure, which has left residents dependent on private tanker services. This decision emerged from a water supply review meeting on Friday, chaired by divisional commissioner Chandrakant Pulkundwar. The meeting was held following directives from the Bombay High Court (PIL 126/2023) aimed at tackling the escalating water crisis in the metropolitan region. Pune Municipal Corporation (PMC) officials confirmed that…

Latest StoriesResidential

Durg Leads PMAY-Gramin, Bijapur Remains Last

RAIPUR: Durg has maintained its lead in the latest performance report of the Pradhan Mantri Awas Yojana-Gramin (PMAY-G). The district achieved an average performance score of 89.5% across four essential indicators, followed by Surajpur and Raipur in second and third places, respectively, retaining their prior standings. Durg’s collector, Abhijit Singh, stated that consistent efforts are key to the successful implementation of the scheme. Dhamtari has advanced to fourth place, moving ahead of Balod, which has fallen to fifth. Koriya district saw significant improvement, rising three ranks from 17th to 14th and achieving the highest sanction rate in the state at…

Latest StoriesResidential

1,000+ Flats for Urban Poor in Prayagraj Under PMAY

PRAYAGRAJ: The Prayagraj authorities are making strides to enhance housing for the urban poor by planning the construction of over 1,000 flats under the Pradhan Mantri Awas Yojana (PMAY) Phase II. Led by the Prayagraj Development Authority (PDA), efforts are underway to identify land which will be provided by the municipal corporation and district administration. The PDA has engaged with relevant departments to expedite the process. Several potential locations have been earmarked for the initiative, including a 4,000 sqm plot near Dhobighat, around four bighas in Peepal Gaon, and approximately 3,000 sqm in the Khuldabad area. Additionally, discussions are in…

InfrastructureLatest Stories

CAQM Tightens Construction Rules to Reduce Delhi NCR Dust Pollution

Representative Image NEW DELHI: With growing efforts to combat pollution in Delhi, the Commission for Air Quality Management (CAQM) has implemented stricter regulations on construction and demolition activities. A study conducted in 2026 highlighted that dust contributes significantly to pollution levels, accounting for approximately 15% in winter and 27% in summer. In response, the CAQM has issued new directives aimed at dust control and enhancing air quality. SD Attri, Member (Technical) of the CAQM, emphasized the importance of regulating dust from demolition activities, which has been a notable source of pollution. Previously, many demolitions were executed without adequate planning, leading…

InfrastructureLatest Stories

Varkala Curbing Illegal Cliffside Constructions

Significant Enforcement Drive in Varkala THIRUVANANTHAPURAM: During the ongoing election period, Varkala municipality has amplified efforts against unauthorized constructions along the ecologically sensitive North Cliff, spanning from Varkala Cliff to Aliyirakkam. Civic authorities report numerous resorts, homestays, and private operators have breached the Kerala Municipality Building Rules (KMBR), 2019, often taking advantage of diminished oversight during elections. The municipality has recently issued a stop memo for an illegal structure in Al Ameen Nagar. The notice, issued by an assistant engineer, identifies a resident named Adinan, who allegedly constructed a room (4.50m x 4.60m x 3.10m), two sets of steps, and…

CommercialLatest Stories

Meta’s India arm renews Mumbai BKC office lease for ₹200 crore

Facebook India Online Services, a subsidiary of Meta Platforms Inc., has renewed its office lease at One BKC in Mumbai’s Bandra-Kurla Complex (BKC). This agreement involves a monthly rent of Rs 430 per sq ft, with an overall rental cost exceeding Rs 200 crore. The renewal, effective from December 15, spans five years and encompasses the 5th and 7th floors of the tower, one of India’s pricier commercial locations. The lease covers a car area of 46,678 sq ft, translating to a chargeable space of 70,167 sq ft. The total monthly rent exceeds Rs 3.02 crore at the agreed rate.…