Category: Latest Stories

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Latest StoriesResidential

Lucknow to Launch Varun Vihar & Naimish Nagar Housing Projects

LUCKNOW: The Lucknow Development Authority (LDA) is set to launch its Varun Vihar and Naimish Nagar housing schemes, with online registration commencing for over 3,100 residential plots in the initial phase. This plan was confirmed by LDA vice-chairperson Prathamesh Kumar on Monday. Plots ranging from 72 sq m to 450 sq m will be available across two sectors in each project. Varun Vihar, covering 6,580 acres along the Agra Expressway, aims to house 3.5 lakh residents and enhance industrial, healthcare, educational, and logistics sectors. In the first phase, LDA will provide 1,926 plots in Varun Vihar, including 1,218 in Kailash…

CommercialLatest Stories

Air India Repairs to Cost ₹181 Crore, Last Six Months

MUMBAI: The state government plans to invest approximately ₹181 crore to renovate and repair the recently acquired 22-storey Air India building located at Nariman Point. Officials estimate that the renovation will take around six months, after which state government offices will relocate to this building. The acquisition cost the state government about ₹1,601 crore. A structural audit conducted last week by the state public works department (PWD) indicated that substantial repairs and renovations are necessary. “We will issue two separate tenders—for construction and electrification. The tender process is currently in progress, and we aim to complete the renovation within six…

Latest StoriesRegulatory

ED Seizes ₹503 Crore Assets from Raheja Developers

NEW DELHI: The Enforcement Directorate (ED) announced on Monday that it has attached fresh assets valued at approximately Rs 503 crore as part of an ongoing money-laundering investigation into alleged fraud involving homebuyers by Raheja Developers and its promoter Navin M Raheja. The agency issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA). The attachment includes immovable properties worth an estimated Rs 503.48 crore, belonging to Raheja Developers Ltd. as well as properties owned by Navin M Raheja and his family members, as stated by an official announcement. This probe originated from multiple FIRs filed by…

IndustryLatest Stories

Ahmedabad Homes to Rise 5-10% from July 1 Amid Cost Surge

AHMEDABAD: From July 1, homebuyers in Ahmedabad may face a price increase of 5-10% for under-construction properties. This decision comes in response to a rise in construction costs caused by supply disruptions linked to the West Asia conflict. This decision was made during a meeting of approximately 400 developers organized by Credai Ahmedabad on Monday. The gathering aimed to evaluate the effects of rising raw material prices as the June price stabilization commitment by Credai approaches its end. Rajesh Vaswani, chairman of Credai Ahmedabad, noted that construction material prices have surged dramatically since the onset of the conflict. “Some raw…

Latest StoriesResidential

Noida: Mahagun Moderne Residents Object to Maintenance Fee Hike

NOIDA: Residents of Mahagun Moderne Society in Sector 7 and 8 protested on Sunday against the increase in Common Area Maintenance (CAM) fees imposed by the AOA. The hike, from Rs 1.99 to Rs 2.55 per square foot, was enacted without a mandatory General Body Meeting (GBM), stirring discontent among nearly 2,600 families in the community. Residents also raised concerns about blocked fire exits near a tower, unauthorized shops, and alleged malpractices by the AOA, indicating a lack of democratic elections. The increase in CAM charges has been criticized, especially in light of a staffing reduction from around 100 to…

InfrastructureLatest Stories

Noida Airport Launches Passenger Flights; Lucknow’s First Flight

File Photo NOIDA: The Noida International Airport welcomed its first landing on Monday, with an IndiGo flight arriving from Lucknow, according to officials. The inaugural landing was soon followed by the first takeoff from the newly developed airport, as a flight departed to Lucknow carrying 172 local residents from the Jewar area, whose land was acquired for the first phase of the airport’s development. With the start of operations at Jewar, the Delhi NCR joins an exclusive list of major global cities with multiple airports. Union Civil Aviation Minister K Rammohan Naidu remarked that a decade ago, such an achievement…

InfrastructureLatest Stories

NCZ Restoration Highlights Delayed Mapping of Aravali Zones

NEW DELHI: The NCR Regional Plan 2041 is set to restore the Natural Conservation Zone (NCZ) fully, with the approval anticipated from the NCR Planning Board on Tuesday. To ensure compliance, the Board must accelerate the mapping of this zone, especially in light of the diminishing Aravali range across the region, to identify any violations and prompt states to rectify them. In April 2022, the National Green Tribunal (NGT) mandated the Board to finalize the mapping of the NCZ. Experts focused on the Aravali and NCZ protection have urged the Board to hasten the process to align with the tribunal’s…

Latest StoriesRegulatory

15+ Property Owners Cited for Tenant Verification Issues in Samba

JAMMU: On Monday, the Jammu and Kashmir Police registered 19 FIRs against property owners in Samba district for failing to provide tenant details, officials confirmed. The FIRs were filed at the Samba and Bari Brahmana police stations as part of a special verification initiative aimed at improving security and ensuring compliance with tenant verification regulations. The drive focused on individuals renting properties and domestic workers. Thirteen cases were recorded at Bari Brahmana and six at Samba police station, as per a spokesperson’s statement. The District Magistrate of Samba has mandated police verification for all tenants. However, many property owners did…

Latest StoriesRegulatory

SC to Hear Plea on Flats Under Subvention Scheme

NEW DELHI: The Supreme Court has agreed to hear a plea urging the Centre to establish a scheme ensuring that if flats under a subvention plan are not delivered to homebuyers, both the lender and builder will share the loss of the loan amount disbursed. Under the subvention scheme, banks directly transfer sanctioned amounts to builders, who are then responsible for covering the EMIs until the flats are delivered. However, when builders default on the EMIs according to the tripartite agreement, banks seek payment directly from homebuyers. A bench consisting of Chief Justice Surya Kant and Justice V Mohana has…

IndustryLatest Stories

Mumbai Sees 70 Redevelopment Deals in Q1 2026: Report

NEW DELHI: In the first quarter of 2026, Mumbai saw nearly 70 developer agreements for society redevelopment, making up over 30% of the total agreements for 2025, according to a report by Knight Frank India. The report noted a shift towards larger, cluster-led redevelopment projects, driven by policy modifications, land aggregation, and enhanced project feasibility. Mumbai’s redevelopment initiatives could potentially unlock around 59,000 homes valued at approximately ₹1.5 lakh crore by 2031. Additionally, these projects are projected to generate about ₹9,115 crore in stamp duty revenue throughout their lifespan, the report stated. Since 2020, developer agreements in Mumbai have surpassed…