Category: Latest Stories

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IndustryLatest Stories

Gujarat Waives 80% Duty on Property Transfers Without Sale Deeds

GANDHINAGAR: In a significant relief for numerous property owners in Gujarat, the state government announced on Monday a stamp duty waiver of up to 80% for property transfers executed through allotment letters and share certificates, bypassing the need for a sale deed. This issue has long impacted older housing societies. The decision, released by the revenue department under Section 9A of the Gujarat Stamp Act, addresses requests from citizens and elected officials. The new ruling specifically benefits residents of societies, associations, and non-trading corporations that transferred properties without sale deeds — a common practice from 1982 to 2001. Many residences,…

Latest StoriesResidential

DDA to Auction Residential Plots in South Delhi

Representative Image NEW DELHI: The Delhi Development Authority (DDA) has formulated a plan to auction residential plots in prime areas. Shifting focus from flatted development, the DDA has initiated steps to engage a specialized firm for demarcating 118 plots in D6 Vasant Kunj, located in south Delhi. The DDA has issued a tender notice to select an experienced agency to carry out the demarcation, as well as to develop necessary infrastructure like roads, stormwater drains, and pipelines for water supply and sewerage. An official stated, “The goal is to prepare the site for e-auction.” Additionally, the authority has identified areas…

Latest StoriesRera

MahaRERA Updates Project Certificate Format for Homebuyers

PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has updated its project registration certificates to better inform homebuyers and promote transparency. These revised certificates now present key project information in a clear and concise format. For the first time, the certificate issued during project registration will include essential details such as total built-up area, the number and names of buildings and wings, approved habitable floors, as well as the status of commencement certificates and total parking spaces available for vehicles. These crucial details, including the promoter’s and project’s name and address, are now formatted in bullet points for improved readability,…

CommercialLatest Stories

Wipro Leases 3.87 Lakh Sq Ft Office in Airoli for 10 Years

IT giant Wipro Ltd has acquired office space across eight floors totaling 387,000 square feet at K Raheja Corp’s IT special economic zone (SEZ) Mindspace Business Park in Navi Mumbai’s Airoli area through a long-term lease exceeding 10 years. The deal, finalized through two agreements, is set at a monthly rent of Rs 2.48 crore, with a provision for a 5% annual increase. Over the lease period, Wipro is projected to pay approximately Rs 328 crore, inclusive of escalations. This IT SEZ is owned and managed by K Raheja Corp’s listed Mindspace Business Parks Real Estate Investment Trust (REIT). The…

Housing FinanceLatest Stories

Bank of Baroda Slashes Home Loan Rates by 40 bps for New Borrowers

Bank of Baroda has cut its home loan interest rates by 40 basis points for new applicants. The starting rate is now 8.00% per annum, down from the previous 8.40%. The adjusted rates, which depend on a borrower’s credit score, are available for new home loans and home improvement loans. Loans of ₹15 lakh and higher qualify for the updated rates, as announced in the bank’s press release. Additionally, the bank is providing a 0.05% per annum concession for female borrowers and a 0.10% reduction for those under 40 years old on new properties and home loan transfers. The bank…

InfrastructureLatest Stories

Ludhiana Identifies Over 150 Unsafe Buildings

LUDHIANA: The town planning department has completed a new survey identifying 159 unsafe buildings across the city, covering all four zones. Officials have compiled a list and issued notices to the owners of these properties. The survey indicates that Zone D has the highest number of unsafe buildings at 55, while Zone A, which includes the old city, has 48. Zones B and C follow with 21 and 35 unsafe buildings, respectively. Comparatively, a 2021 survey showed Zone A had 64 unsafe buildings, with Zones B, C, and D reporting 21, 38, and 33 unsafe buildings, respectively. An official noted…

Latest StoriesRegulatory

Noida Authority Denies Max Estates’ ₹67 Crore Waiver Request

AI-generated Representative Image NOIDA: The Noida Authority has denied a request from Max Estates Ltd to eliminate constitution change charges (CIC) amounting to approximately Rs 67 crore related to the acquisition of the halted Delhi One project in Sector 16B. These charges arise from a comprehensive shareholding shift due to insolvency proceedings and are part of the Authority’s updated unified policy announced in February. Initially, Max sought a total waiver of the CIC but later revised its proposal to pay Rs 22 crore—around 40% of the assessed fees—into an interest-bearing account under certain conditions. The Authority, however, maintained that the…

IndustryLatest Stories

Kalpataru Shares Debut Flat, Surge Over 9% Later

NEW DELHI: Shares of real estate developer Kalpataru Ltd had a flat debut on Tuesday, opening at the issue price of Rs 414 but later rallied by over 9%. The stock began trading at Rs 414.10 on the BSE and gained momentum, increasing by 9.42% to reach Rs 453. On the NSE, it was listed at Rs 414, before climbing 9.37% to Rs 452.80. The company had a market valuation of Rs 9,121.99 crore in early trading. Kalpataru Ltd’s initial public offering (IPO) was subscribed 2.26 times by the end of bidding last Thursday. The IPO’s price band was set…

Latest StoriesResidential

Delhi: 800+ Flats Sold in One Month Under Apna Ghar

NEW DELHI: The Delhi Development Authority (DDA) has successfully sold 830 flats within a month of launching the Apna Ghar Awaas Yojana 2025, with 630, or 75%, of the units located in Narela. Officials reported that 150 flats were sold in Loknayakpuram and 50 in Siraspur. “The scheme’s impressive progress is particularly noticeable in Narela, where all 115 EWS flats in Sector A1 A4 were sold out. Moreover, the MIG flats in Loknayakpuram are nearly fully booked,” an official stated. This initiative presents ready-to-move-in homes at discounted prices across several categories, including those for economically weaker sections (EWS), low-income groups…

Latest StoriesRera

Odisha RERA Asks Developers to Update Project Info Online

BHUBANESWAR: To keep homebuyers informed, the Odisha Real Estate Regulatory Authority (ORERA) has mandated that all registered developers upload and regularly update information regarding their housing and plotting projects on the new ORERA 2.0 website. The newly launched website serves as a comprehensive platform for homebuyers, allowing them to easily access the latest information about the projects in which they have invested their money. In a letter sent to developers, ORERA requested that they update essential details of their projects, such as construction milestones, booking statuses of available units, and specifics about site engineers and architects involved. ORERA has also…