Category: Latest Stories

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Latest StoriesRegulatory

SC Orders Settlement Execution in Ardee Family Dispute

NEW DELHI: The Supreme Court has instructed the execution of a settlement concerning the family of the late real estate developer Ashok Varma, associated with the Ardee Group and its family assets. A bench led by Justices J K Maheshwari and Atul S Chandurkar acknowledged the mediator’s report and ordered the parties to implement the settlement. The case involves Shefali Varma and Shibani Varma Kapur, the daughters of Ashok Varma, and their dispute over the family’s real estate assets and business endeavors. The court had assigned former Justice Kurian Joseph as a mediator to facilitate an amicable resolution. The bench…

Latest StoriesRegulatory

CBI Charges Ninex Developers and Director in Builder-Bank Case

NEW DELHI: The Central Bureau of Investigation (CBI) has charged real estate company Ninex Developers Ltd and its director for alleged fraud in a housing project based in Gurugram, according to official reports released on Monday. This marks the CBI’s 11th report related to builder-banker collusion, where numerous homeowners have been misled by false assurances. According to the charge sheet, the director of Ninex Developers purportedly deceived homebuyers and investors with misleading claims, profiting at their expense. The Supreme Court, on April 29, 2025, directed the CBI to initiate several preliminary inquiries into builders in the National Capital Region (NCR),…

CommercialLatest Stories

Smartworks Leases 400+ Seats to Japanese NBFC in Mumbai

NEW DELHI: Smartworks Coworking Spaces has secured a lease for over 400 seats with a Japanese NBFC subsidiary in Mumbai. The five-year deal is projected to yield rental revenue of ₹35 crore. Neetish Sarda, the founder and managing director, stated, “Large teams necessitate a specific set of workplace needs – they require a space that operates seamlessly, maintains consistency across touchpoints, and is scalable as the organization expands.” Clients occupying 300 or more seats represent 69% of the company’s rental income, with an average tenure of 47 months for this group. Approximately 90% of the firm’s revenue is derived from…

Latest StoriesRegulatory

SC-appointed amicus requests MCD action on illegal constructions

NEW DELHI: An amicus curiae appointed by the court has approached the Supreme Court with requests for directions, including an affidavit from the Municipal Corporation of Delhi (MCD) detailing the survey and actions taken against illegal constructions in the capital. This plea comes in the wake of the collapse of a purportedly illegal five-storey building in Saidulajab, which resulted in six fatalities and at least 14 injuries on May 30. On March 25, a bench featuring Justices Ahsanuddin Amanullah and R Mahadevan expressed serious concern regarding the widespread violations of building regulations and the municipal authorities’ failure to curb unauthorized…

Latest StoriesResidential

Govt Offers One-Time Relief on OCs for Bengaluru Homeowners

BENGALURU: The Karnataka government has issued a directive exempting residential buildings up to Ground plus three floors or stilt parking plus four floors, built on plots of up to 2,400 sq. ft, from obtaining occupancy certificates for electricity connections within GBA limits. The order, dated June 5, follows the decision made at the first cabinet meeting chaired by Chief Minister D K Shivakumar on June 3. This one-time exemption applies to buildings, allowing for a 20 percent variation, as long as they were completed and applied for electricity connections by May 31, 2026, according to the order. To confirm completion…

Latest StoriesResidential

Karnataka Gives Homes to 427 Families in Madikeri

MADIKERI: The Karnataka state government is committed to uplifting the underprivileged by providing essential facilities for a dignified life, stated Virajpet MLA A.S. Ponnanna. During an event where he distributed documents to beneficiaries of the Basava and Ambedkar Housing Scheme across 18 gram panchayats in Madikeri taluk, Ponnanna noted that the previous housing minister, Zameer Ahmed, initiated housing provisions under these schemes. Thanks to the cooperation of former Chief Minister Siddaramaiah and current Chief Minister D.K. Shivakumar, the district has received necessary funding for house construction. According to the executive officer of the Madikeri Taluk Panchayat, Shekhar, the government has…

IndustryLatest Stories

RWA Pushes for Fire Safety Audits in Noida Hotels and Highrises

NOIDA: Following the recent fire incidents in Noida and Delhi, the Federation of Noida Residents Welfare Associations (FONRWA) has reached out to the GB Nagar police commissioner, urging immediate measures to enhance fire safety standards in the city. The federation is requesting a thorough inspection of hotels, guest houses, and paying guest accommodations, along with the verification of Fire No Objection Certificates (NOCs) in high-rise residential and commercial buildings. They are also demanding action against illegal constructions, the improper use of basements, and breaches of approved building plans. “The recent fire tragedies in Delhi and Noida should act as a…

IndustryLatest Stories

Arnya Realestates Fund Invests ₹1,000 Crore in 11 Projects

MUMBAI: Arnya Realestates Fund Advisors, a real estate investment manager, has allocated over Rs 1,000 crore to various residential projects across India via its inaugural debt fund and direct investments. This move reflects the growing trend of alternative investment funds increasing their presence in the housing sector. The investments comprise 11 transactions that span five key locations including Mumbai, Pune, Bengaluru, Chennai, and Hyderabad. Key developers involved in these projects include Casagrand, MAIA Estates, Gami Group, and Vaishnavi. Many of these projects are at advanced approval stages, while some have already started sales in critical residential markets like Bengaluru. The…

CommercialLatest Stories

Incuspaze Purchases iKeva

NEW DELHI: Incuspaze, a provider of managed workspaces, has completed a 100% acquisition of iKeva, a workspace operator with locations in Hyderabad and Bengaluru. This strategic move is expected to contribute approximately ₹100 crore to the company’s revenue. iKeva operates 18 centers, totaling five lakh square feet across Hyderabad and Bengaluru. Incuspaze plans to expand its office space by an additional five lakh square feet by FY27. The company aims for a revenue target of ₹1,000 crore by FY28–29 and is set to prepare for an IPO within the next 24 to 36 months. Published On Jun 8, 2026 at…

Latest StoriesResidential

Greater Noida orders audit of Arihant Amber after biker’s death

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has announced a structural audit of the Arihant Amber building in Noida Extension following the tragic death of a 46-year-old resident, who was killed when a concrete fragment fell from an overhead beam while he was riding his bike. “The Authority will perform a structural audit of the building and act according to the findings,” stated Saumya Srivastava, additional CEO at GNIDA. The victim, Vikas Chawla, resided in Tower D (flat 1507) with his family. The accident occurred around 4 PM on Saturday as he exited the parking area. AOA president Tushar…