Category: Latest Stories

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InfrastructureLatest Stories

Mumbai Residents Talk Pollution at Construction Sites with Mayor

File Photo MUMBAI: A coalition of resident groups, including the Gulmohar Area Societies Welfare Group, the Santacruz West Action Team (SWAT), the Pali Hill Residents Association (PHRA), and the Keep Juhu Clean collective, met with Mayor Ritu Tawde on Wednesday to address issues surrounding pollution and noise from ongoing construction in the western suburbs. Representing nearly 2,000 residents from Gulmohar, JVPD, Santacruz, and Bandra Pali Hill, the groups conveyed their concerns regarding the decline in air quality, excessive noise from construction sites, and inadequate enforcement of pollution control regulations. SWAT’s Reetha Balsavar emphasized the need for the Brihanmumbai Municipal Corporation…

Latest StoriesResidential

Pune: Co-op Dept Dissolves Lohegaon Society for Denying Access

PUNE: The deputy registrar of cooperative society in Pune has disbanded the 18-member managing committee of a housing society in Lohegaon for failing to provide access to vital documents, such as audit reports and income-expenditure statements, despite multiple reminders and directives from cooperative officials. The housing society features 25 residential towers housing 657 members and nearly 1,500 residents. Deputy registrar NV Aghav issued orders on February 27 and March 4, declaring the 18 committee members ineligible for reappointment for five years starting February 27. A three-member authorized committee, selected from current society members, will oversee daily operations for the next…

Latest StoriesRegulatory

Telangana HC suggests specialized tribunal for building disputes

HYDERABAD: The Telangana High Court has proposed that the state government consider setting up a specialized tribunal to handle building-related disputes. This measure aims to alleviate the increasing workload of such cases within the judiciary. A division bench led by Chief Justice Aparesh Kumar Singh and Justice GM Mohiuddin made this suggestion while reviewing an appeal regarding a building permit that was granted to a builder for a project in Kothapet back in October 2025. The appeal was submitted by residents Srinivas Yadav and DE Nagaraju after their previous petition to cancel the permit was dismissed by a single judge.…

Latest StoriesRegulatory

ED Names Valmark Realty Director in TDR Scam Involving Bengaluru Officials

BENGALURU: The Enforcement Directorate (ED) has filed a prosecution complaint in connection to a Transferable Development Rights (TDR) scam involving the director of Valmark Realty Holdings Private Ltd (VRHPL) along with 19 other accused, including former employees of the Bruhat Bengaluru Mahanagara Palike (BBMP). The investigation, initiated based on an FIR lodged by the Anti-Corruption Bureau (ACB) in 2019, claims that VRHPL’s director, Ratan Lath, acquired development right certificates (DRCs) and unlawfully sold TDRs to various real estate companies and individuals, netting illicit profits of approximately ₹27.7 crore. According to a press release from the ED, TDR brokers K Suresh,…

CommercialLatest Stories

REIT Market Cap in India Soars to ₹1.73 Lakh Crore Since FY20

NEW DELHI: The market capitalization of India’s listed real estate investment trusts (REITs) has surged over six times to approximately ₹1.73 lakh crore in the first nine months of FY26, up from ₹27,100 crore in FY20, as reported by CBRE. This growth follows the introduction of India’s first REIT in 2019, driven by new listings and an increase in unit prices of existing REITs. Currently, five REITs are listed on Indian stock exchanges, including Knowledge Realty Trust REIT, which launched in August 2025. The report indicates that the other four REITs experienced over 20% year-on-year unit price growth between Q3…

Latest StoriesRegulatory

Ulhasnagar’s UMC Offers 100% Property Tax Penalty Waiver

ULHASNAGAR: The Ulhasnagar Municipal Corporation (UMC) has initiated a special “Abhay Yojana” to alleviate the tax burden on citizens by waiving penalty charges on overdue property and water taxes for a limited time. This decision follows a request from MLA Kumar Ailani, who urged the civic body to introduce a relief scheme for residents struggling to meet their tax obligations. In response, Municipal Commissioner Manisha Awhale approved the scheme, which will be in effect from March 13 to March 16, 2026. During this period, citizens who settle their outstanding property and water tax dues in full will benefit from a…

IndustryLatest Stories

MHADA to Accelerate Redevelopment in Mumbai, Pune, Nashik

Sure! Here’s a rewritten version of the content: NEW DELHI: Redevelopment and brownfield projects in prime urban locations have significantly boosted the real estate sector in Maharashtra over the last two years, as stated by Anil Wankhede, Deputy CEO of the Maharashtra Housing and Area Development Authority (MHADA). In an exclusive interview with Ankit Sharma, Wankhede emphasized that MHADA is concentrating on redeveloping aging housing layouts in cities like Mumbai, Pune, and Nashik, alongside formulating policies to enhance rental housing and expedite the redevelopment of older structures. He indicated that there remains a robust demand for affordable housing through MHADA’s…

InfrastructureLatest Stories

Housing Ministry: Plan to Launch 8 New Cities Unfeasible

NEW DELHI: The Union Ministry of Housing and Urban Affairs announced to the Lok Sabha on Thursday that the initiative to develop eight new cities will not move forward as the 15th Finance Commission’s period ends on March 31, this year. The Rs 8,000-crore grant allocated by the Commission has remained unutilized over the past five years. The proposal indicated that each city would receive Rs 1,000 crore for its development, with each state eligible for only one city under this initiative. In a written response, Union Minister of State for Housing and Urban Affairs Tokhan Sahu stated that during…

CommercialLatest Stories

Brookfield India REIT to Raise ₹4,000 Crore; Ecoworld SPV ₹1,125 Crore

Representative AI image NEW DELHI: Brookfield India Real Estate Trust (Brookfield India REIT) is set to raise up to ₹4,000 crore through institutional unit placements. Meanwhile, its subsidiary, Arliga Ecoworld Business Parks, plans to secure ₹1,125 crore from funds managed by 360 ONE WAM, as disclosed in regulatory documents. The board of Brookprop Management Services, which manages Brookfield India REIT, approved the institutional placement proposal during a meeting on March 12, 2026. The fundraising is expected to take place across one or more tranches, pending approval from the REIT’s unitholders. Funds from the institutional placement will be utilized for acquiring…

Latest StoriesResidential

Maharashtra Minister to Discuss First-Floor Slum Rehab with CM, DCMs

MUMBAI: Maharashtra Minister Shambhuraj Desai announced on Thursday that there will be discussions with the Chief Minister and Deputy Chief Ministers regarding the demand to include first-floor slum dwellers for rehabilitation under the Slum Rehabilitation Authority (SRA) schemes in Mumbai. State Assembly members raised concerns about long-term residents residing on the first floors of slum structures, stating that excluding them would hinder the efforts to achieve a slum-free Mumbai. Under current regulations, only ground-floor structures are recognized and numbered for SRA project eligibility, Desai explained during the question hour. “If we are to consider changes, such as recognizing ‘one plus…