Category: Latest Stories

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Latest StoriesRegulatory

Bombay HC Quashes PMLA Case Against D B Realty Chief

MUMBAI: The Bombay High Court has dismissed a 2016 money laundering case against D B Realty Ltd and its managing director, Vinodkumar Goenka. This case was associated with former Maharashtra deputy chief minister Chhagan Bhujbal and the Maharashtra Sadan construction controversy. A single-judge bench led by Justice Ashwin Bhobe, in a July 21 ruling, annulled the 2019 order from a special court that had rejected the discharge petitions of Goenka and D B Realty. They were implicated in a case under the Prevention of Money Laundering Act (PMLA) set in motion against Bhujbal and others in 2016. For Goenka and…

Latest StoriesResidential

CM seeks 11.56 lakh PMAY-G homes for Telangana from Centre

HYDERABAD: Telangana Chief Minister A. Revanth Reddy on Tuesday appealed to Union Minister Shivraj Singh Chouhan to allocate 11.56 lakh houses to the state under the PMAY-G scheme. During a meeting with Chouhan, the Union Minister for Agriculture and Rural Development, Reddy emphasized the state’s commitment to providing housing for the underprivileged since taking office. He updated Chouhan on the progress of housing construction under Telangana’s ‘Indiramma’ scheme and highlighted how demand has surged due to the previous BRS government’s inadequate utilization of the Pradhan Mantri Awas Yojana-Gramin scheme. Consequently, many individuals have been without homes over the last decade.…

Latest StoriesResidential

Haryana Cabinet Lowers Stamp Duty, Registration Fees for EWS

CHANDIGARH: The Haryana Cabinet convened on Tuesday to approve multiple initiatives focused on enhancing affordable housing, stimulating industrial growth, enhancing governance, reinforcing welfare programs, and fostering electric mobility. In a significant step for beneficiaries of the Pradhan Mantri Awas Yojana-Urban 2.0, the Cabinet, led by Chief Minister Nayab Singh Saini, sanctioned a notable reduction in stamp duty and registration fees for Economically Weaker Section (EWS) beneficiaries looking to buy eligible homes of up to 60 square metres. Under this decision, eligible beneficiaries will only pay Rs 500 for stamp duty and another Rs 500 for registration per property deed. Currently,…

Latest StoriesRegulatory

Bombay HC grants interim relief to SD Corp in defamation case

MUMBAI: The Bombay High Court has provided interim relief to SD Corporation Pvt Ltd, a Mumbai-based real estate developer, in a defamation lawsuit. The court has ordered that defamatory posts, videos, and messages targeting the company and its MHADA redevelopment project must not be disseminated until the next hearing. Justice Abhay Ahuja issued this direction on July 27 while considering an interim application from SD Corporation against Devang Dave and others. The court noted that the company demonstrated a prima facie case warranting this temporary relief. According to the lawsuit, SD Corporation— a joint venture of the Shapoorji Pallonji Group…

InfrastructureLatest Stories

74 ‘highly dangerous’ buildings in Vasai-Virar to be vacated

Representative AI image VASAI: The Vasai Virar City Municipal Corporation (VVCMC) has ordered residents of 74 buildings deemed “C-1” (highly dangerous) to vacate immediately due to the ongoing monsoon season and the potential risk of structural collapse. Municipal Commissioner Prithviraj BP issued this directive following a recent structural assessment that identified these buildings as uninhabitable. Notices have been sent to both occupants and owners, instructing them to move to safer locations without delay. Amid persistent rainfall and strong winds over the past days, concerns regarding the stability of ageing and weak structures throughout the city have intensified. Several older residential…

InfrastructureLatest Stories

Indian Cities Require $2.4 Trillion by 2050: Report

Sure! Here’s a rewritten version of the content: — Representative AI image NEW DELHI: A report by FICCI and EY estimates that Indian cities will need approximately $2.4 trillion by 2050 to achieve climate resilience and low-carbon status. So far, only 20 municipal corporations have tapped into the capital markets, collectively raising around $476 million. While urban areas account for over 60% of India’s GDP from about one-third of the population, municipal corporations generate revenues equivalent to merely 0.6% of the GDP, according to the report. India’s urban infrastructure needs are projected at about $840 billion over the next 15…

CommercialLatest Stories

Lloyds Realty Leases 182K Sq Ft Mumbai Office to Smartworks

Representative AI image NEW DELHI: Lloyds Realty Developers has entered into a 15-year lease agreement with Smartworks Coworking Spaces for its commercial property, The Square, located in Andheri East, Mumbai. This lease encompasses the full 1,82,300 sq ft of the building, achieving 100% occupancy for the asset. The deal is expected to generate rental income exceeding ₹600 crore throughout the lease period. The Square, designed by Panthaki Architects, features three basement levels, a ground floor, and nine office floors. It also includes a cafe space on the ground floor, a landscaped terrace garden, and mechanized shuttle parking. Published on Jul…

CommercialLatest Stories

Knowledge Realty Trust’s Q1 FY27 NOI Up 15% to ₹1,111.7 Crore

NEW DELHI: Knowledge Realty Trust reported a 15% year-on-year revenue increase to ₹1,243.10 crore for the quarter ending June 30, 2026. Its net operating income also rose by 15%, reaching ₹1,111.70 crore. The total net consolidated income amounted to ₹1,268.14 crore for Q1 FY27, with a net consolidated profit after tax of ₹250.79 crore. The board of directors at Knowledge Realty Office Management Services, responsible for managing Knowledge Realty Trust, has approved a distribution of ₹751.63 crore, translating to ₹1.695 per unit for the quarter. This distribution includes ₹408.85 crore (₹0.922 per unit) as dividends, ₹123.28 crore (₹0.278 per unit)…

InfrastructureLatest Stories

Mumbai: BMC Panel to Lease Mulund Dump for Dharavi Project

Representative AI image MUMBAI: The BMC has proposed leasing 15 acres of reclaimed land at the Mulund dumping ground to the Dharavi Redevelopment Project (DRP) for five years. This will establish a casting yard, a precast element manufacturing facility, and a ready-mix concrete (RMC) plant, generating an expected rental income of around Rs 103.47 crore during the lease term. The plan, cleared by civic administration, will be discussed at the Improvement Committee meeting scheduled for Tuesday afternoon. It involves leasing 60,703 sq m of land to Navbharat Mega Developers Pvt Ltd, which has been appointed by the state government to…

InfrastructureLatest Stories

BMC Panel to Decide on 3,169 Trees for Dharavi Projects

Representative AI image MUMBAI: The BMC’s Tree Authority will review proposals concerning 3,169 trees in an upcoming meeting on Tuesday, which includes requests to fell 1,777 trees and to transplant 1,392 others for various infrastructure and redevelopment initiatives in Mumbai. Notable proposals include the construction of an underground tunnel between Orange Gate and Marine Drive, the Dharavi redevelopment project, housing plans from IIT Bombay in Powai, and a slum rehabilitation scheme in Ghatkopar. The most significant proposal involves the Dharavi Redevelopment Project (DRP). Navbharat Mega Developers Pvt Ltd is seeking to clear 1,693 trees impacted by excavation for rehabilitation buildings…