Category: Latest Stories

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InfrastructureLatest Stories

NCR to Develop Four Greenfield Cities by 2041

NEW DELHI: Four new greenfield cities, dubbed ‘Namo Cities,’ will be established as part of the Regional Plan 2041 for the National Capital Region (NCR) to foster balanced regional development. The decision was made during a meeting of the National Capital Region Planning Board (NCRPB), chaired by Union Housing and Urban Affairs Minister Manohar Lal. According to the Regional Plan 2041, the NCR is projected to become increasingly urbanized, with the urban population estimated to reach approximately 57% by 2031 and around 67% by 2041. “During the meeting, it was agreed to develop four greenfield cities, which will be known…

Latest StoriesRegulatory

Pune Builder Charged with Cheating Flat Buyers of ₹50 Crore

Representative AI image PUNE: The Wagholi police have initiated a cheating case against a local builder and his associates after over 150 homebuyers complained of being defrauded of nearly Rs50 crore. This action follows the builder’s failure to deliver flats in a housing project located in Kesnand, Wagholi, despite receiving significant payments from buyers. The investigation began with a complaint from a 49-year-old buyer who reported paying Rs31.77 lakh in 2018 for a 2-BHK flat and a commercial space. This amount included personal savings and bank loans transferred directly to the builder’s account. According to the signed agreement, the builder…

InfrastructureLatest Stories

Varanasi: 150 Structures Demolished for Road Widening

Representative image VARANASI: Following a stay order from the high court preventing the demolition of three buildings as part of the Dalmandi road widening project, the Public Works Department (PWD) proceeded to demolish 13 other structures and clear debris on Sunday. Under strict security, PWD Executive Engineer K.K. Singh and ACP (Dashaswamedh) Atul Anjan Tripathi oversaw the demolition, which was monitored via drone surveillance. A total of 13 buildings were demolished, including eight recently acquired by the PWD and five that had received notices from the Varanasi Municipal Corporation. Overall, close to 150 buildings have been demolished in the ongoing…

InfrastructureLatest Stories

Delhi’s Crackdown: 217 Properties Razed, 237 Sealed in June

Representative image NEW DELHI: The Municipal Corporation of Delhi (MCD) demolished 14 properties and sealed 25 establishments on Monday as part of an ongoing crackdown on illegal constructions and violations. Inspections by the Revenue Department have exceeded 770 in the past 10 days, officials reported. Since the hotel fire in Malviya Nagar on June 3, the civic body has demolished 217 properties and sealed 237 others as part of this enforcement drive. In this period, the MCD issued 330 show-cause notices for unauthorized constructions, 151 sealing notices, and 91 demolition orders. The Revenue Department’s daily inspection report indicated 29 sites…

Latest StoriesRegulatory

ED Raids 17 Locations in Corporate Insolvency Case

MUMBAI: On Tuesday, the Enforcement Directorate (ED) conducted searches in Maharashtra and Delhi as part of an investigation into potential money laundering linked to alleged irregularities in a corporate insolvency resolution process, officials reported. Seventeen locations connected to Suraksha Asset Reconstruction Company Ltd (SARCL), Suraksha Realty Ltd, Khyati Realtors Pvt Ltd, their promoters, directors, employees, and a former YES Bank employee were searched in Mumbai, Khandala (Maharashtra), and Delhi. The companies were not immediately available for comment regarding the ED’s actions. The investigation centers on the purported fraudulent issuance of a loan by YES Bank to Mackstar Marketing Pvt Ltd,…

Latest StoriesResidential

Kalki Koechlin Sells Mumbai Apartment for ₹2.55 Crore

NEW DELHI: Kalki Koechlin has sold her apartment located in the Varsova Kiran Co-operative Housing Society, Andheri West, Mumbai, for ₹2.55 crore. The apartment spans an area of 114.31 sq meters (1,230.42 sq ft). The transaction required a stamp duty payment of ₹16.08 lakh and registration charges of ₹30,000, based on property registration documents reviewed by Square Yards on the Inspector General of Registration (IGR) website. Koechlin originally acquired the apartment in December 2015 for ₹1.95 crore. With its current sale price at ₹2.55 crore, the actress has realized an appreciation of approximately ₹60 lakh over her nearly 10-year ownership,…

Latest StoriesRegulatory

Delhi HC: Can’t demolish homes of residents not relocated yet

NEW DELHI: On Monday, the Delhi High Court ordered that authorities cannot demolish the homes of residents in Race Course slum clusters who have not agreed to alternative housing until July 1. “If they have not voluntarily vacated, you cannot touch them until July 1,” stated Justices Tejas Karia and Madhu Jain during the hearing of an appeal from residents of Bhai Ram Camp, DID Camp, and Masjid Camp. They challenged a previous ruling that denied intervention in their eviction from the area, adjacent to the prime minister’s official residence. The appeal came to the vacation bench following an urgent…

IndustryLatest Stories

CMDA Gains Authority to Approve Chennai High-Rises

CHENNAI: The process for obtaining planning permissions for high-rise buildings (HRBs) is set to become faster. The state government has delegated the authority to approve HRB projects in the Chennai Metropolitan Area (CMA) to the Chennai Metropolitan Development Authority (CMDA). This decision was made known through a Government Order (GO) by the housing and urban development department on June 15. Following a request from the CMDA, which indicated that routing proposals through the government after technical review had caused delays, the government has concurred and decided to enable the planning authority to grant approvals directly. This order amends provisions of…

IndustryLatest Stories

India’s REIT, InvIT AUM could hit ₹20 lakh crore by 2030

NEW DELHI: India’s Real Estate Investment Trust (REIT) and Infrastructure Investment Trust (InvIT) markets are projected to draw an additional ₹11.6 lakh crore in investments over the next five years. This would result in total assets under management exceeding ₹20 lakh crore by 2030, according to an Avendus Capital report. The report notes that the market currently includes 32 listed trusts with assets under management of approximately ₹10 lakh crore and a total market capitalisation of around ₹5 lakh crore. Domestic institutional investors are anticipated to be a key source of funding for this asset class. The report suggests that…

Latest StoriesResidential

127 Families in Thane Still Await Flats, Says MHADA

MUMBAI: The plight of 127 families from Vartak Nagar, Thane, awaiting housing after redevelopment, received a ray of hope as MHADA has officially recognized that they have yet to be rehabilitated. This recognition came in MHADA’s conditional consent to the Thane Municipal Corporation (TMC) regarding the issuance of final occupation certificates for Buildings 54, 55, and 56. MHADA indicated that any occupation certificate issued by TMC would depend on the outcome of a petition filed by the distressed residents in the Bombay High Court. In April 2025, the High Court noted that permanent alternate accommodation had not yet been provided…