Category: Latest Stories

Access daily updates on all real estate sectors including residential, commercial, retail, and infrastructure. Stay ahead with market trends, policy changes, investment news, and expert analysis from across the globe.

Latest StoriesRegulatory

Mumbai court denies bail to businessman in ₹1,000 crore fraud

MUMBAI: A Mumbai court has rejected the anticipatory bail plea of businessman Sudhir Valia, who is implicated in a Rs 1,000-crore financial fraud involving Yes Bank. The court ruled that the charges are serious and that Valia’s custodial interrogation is necessary. Rana Kapoor, co-founder of Yes Bank, is also among those accused in the case. Additional Sessions Judge Anil D. Salunkhe stated, “The seriousness of the alleged economic fraud involving the applicant (Valia) in collusion with Yes Bank officials necessitates custodial interrogation.” The Economic Offences Wing (EOW) of the Mumbai Police has registered a new FIR targeting Kapoor, Valia, director…

IndustryLatest Stories

TN government halts ₹2,000 crore Brigade housing project

Representative AI image CHENNAI: The Tamil Nadu government has suspended construction on Brigade Enterprises’ ₹2,000-crore residential project in Perumbakkam. The halt follows the discovery that construction began without the required permissions from the Tamil Nadu State Wetland Authority (TNSWA). The project consists of 1,250 units across 14.7 acres and is reported to be situated within the ecologically sensitive Pallikaranai Ramsar Wetland Site. During a meeting on May 8, just two days before TVK took office, the State Environment Impact Assessment Authority (SEIAA) revoked the environmental clearance (EC) previously granted to Brigade Enterprises Ltd. This action was influenced by a complaint…

Latest StoriesResidential

Bihar Hikes Circle Rates, Making Land and Flat Purchases Costlier

PATNA: The cost of buying land and homes in Bihar has risen following the state government’s announcement on Thursday to increase registration fees for properties in both rural and urban areas. The updated minimum value register (MVR), or circle rates, shows a 60% hike in rural land rates and a doubling of urban rates. The prohibition, excise, and registration department released a notification on Thursday, with the revised rates taking immediate effect. Furthermore, the government has instituted an automatic yearly increment of 5% in MVR rates. The previous revision for MVR rates was conducted in 2013 for rural regions and…

IndustryLatest Stories

Gurugram DLF-3: Hotels, PGs, Offices Sealed for Code Violations

GURUGRAM: The enforcement wing of the Department of Town and Country Planning (DTCP) initiated a major restoration and enforcement drive against unauthorized constructions and commercial activities from residential premises in DLF-3 on Thursday. Following directions from the Punjab and Haryana High Court, the operation began around noon in S-Block on Nathupur Road, supported by police and district administration. Led by District Town Planner (Enforcement) Amit Madholia, this marks the start of a broader enforcement campaign targeting violations across DLF-1 to 5. During the operation, multiple establishments were sealed, including hotels, paying guest accommodations, offices, a hospital, and a beauty parlour.…

IndustryLatest Stories

India Must Speed Up Construction to Meet Urbanization Needs: Minister

NEW DELHI: To address the demands of rapid urbanization, India must significantly enhance its construction activities, stated Union Minister for Housing and Urban Affairs, Manohar Lal Khattar, at Bharat Buildcon 2026. Khattar emphasized that future construction efforts should prioritize speed, quality, durability, sustainability, and affordability. He projected that India’s urban population will grow dramatically in the coming decades, leading to increased demands for housing, infrastructure, and public amenities. To meet these future needs, over one crore urban homes will need to be constructed annually, he noted. Additionally, Khattar suggested implementing a durability certification system for buildings to reflect their expected…

IndustryLatest Stories

HDFC Fund, Advisors Settle ₹26 Lakh Regulatory Violations

NEW DELHI: HDFC Property Fund and HDFC Capital Advisors have reached a settlement over a regulatory violation with Sebi, amounting to Rs 26 lakh. The case involved delays in the asset liquidation process and the distribution of proceeds. This delay in winding up the schemes is a violation of Sebi’s Venture Capital Funds rules. According to a Sebi settlement order issued on Thursday, HDFC Property Fund and HDFC Capital Advisors submitted suo motu settlement applications, proposing to resolve the matter “without admitting or denying the findings of facts and conclusions of law”. HDFC Property Fund initiated two schemes: the HDFC…

CommercialLatest Stories

Knowledge Realty Trust plans to raise ₹2,000 crore through NCDs

NEW DELHI: Knowledge Realty Trust intends to raise up to ₹2,000 crore via non-convertible debentures and commercial papers, as revealed in a regulatory filing. The borrowing committee of Knowledge Realty Office Management Services, which manages Knowledge Realty Trust, approved this proposal in a meeting held on June 17, 2026. The trust will issue up to ₹1,000 crore in listed, rated, secured, redeemable, non-convertible debentures through a private placement. The NCDs will have a face value of ₹1 lakh each and may be issued in one or multiple transactions, series, or tranches to eligible investors. The committee also sanctioned raising an…

Latest StoriesResidential

Homebuyers suffer as NCR property registration stalls due to strike

NOIDA: Manish Dixit has been visiting the sub-registrar’s office in Greater Noida for nearly three weeks, trying to complete the registration process for his newly purchased flat. Each visit has been met with disappointment. Dixit bought the apartment for Rs 80 lakh, financing Rs 65 lakh through a housing loan from HDFC Bank. While the payment formalities are complete, the final registration is on hold due to an ongoing strike by lawyers and deed writers protesting the Uttar Pradesh government’s move toward e-registration of property documents. The protests began on June 10, when deed writers halted their work in Greater…

Latest StoriesRegulatory

Patna civic body collects over ₹31 crore in property tax

PATNA: The Patna Municipal Corporation (PMC) has collected over ₹31 crore in property tax from April 1 to June 16 this financial year, exceeding the ₹30 crore collected during the same period last year, even with a decline in the number of taxpayers. According to official PMC data, 94,553 property owners paid their tax by June 16 this year, down from 98,338 in the previous fiscal year. Officials credit the increase in revenue to a revised assessment structure informed by road categories and property locations, as well as improved compliance. Online payments continue to lead tax collection efforts, with 57,541…

IndustryLatest Stories

PMRDA Given 12-18 Months for Structural Plan to Unlock Permits

PUNE: Urban Development Minister Madhuri Misal has urged the Pune Metropolitan Region Development Authority (PMRDA) to accelerate the preparation of a structural plan, aiming to implement it within the next 12-18 months. This move comes in light of delays in development permissions following the cancellation of the authority’s draft development plan (DP). The directive was given during a review meeting at PMRDA’s Akurdi headquarters, where key infrastructure projects, including town planning schemes and the ring road project, were assessed. PMRDA Commissioner Abhijit Chaudhari and other senior officials were present. Misal mentioned that the transfer of five approved town planning schemes…