Category: Latest Stories

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Latest StoriesRegulatory

Cops File Second Chargesheet Against Radius Estates’ Promoter

MUMBAI: Authorities have filed a chargesheet against Sanjay Chhabria, the promoter of Radius Estates and Developers Pvt Ltd, for allegedly defrauding Yes Bank of ₹30.39 crore by misappropriating funds designated for a redevelopment initiative. In 2018, Chhabria secured a ₹50-crore overdraft for the Mhada redevelopment project “X BKC.” However, ₹30.39 crore of that amount was improperly redirected to related enterprises, such as Radius Enterprises and Sea Fuss Realty, rather than being utilized for the project’s intended purpose. According to the approval letter from April 2018, these funds were meant to address the project’s working capital needs and cash-flow discrepancies. Investigators…

Latest StoriesResidential

Uttar Pradesh Cabinet Greenlights Affordable Housing Policy

LUCKNOW: On Tuesday, the state cabinet approved a new policy to implement affordable housing initiatives under the Pradhan Mantri Awas Yojana-Urban 2.0, including affordable housing in partnership (AHP) and affordable rental housing (ARH) components. The initiative aims to provide accessible housing for middle-income and economically weaker sections of society. Beneficiaries will receive financial aid of Rs 1.5 lakh from the Centre and Rs 1 lakh from the state government. Additionally, developers of approved projects will benefit from exemptions on land-use change charges, map approval fees, and external development fees. Beneficiaries will also enjoy reduced stamp duty rates. Under the ARH…

InfrastructureLatest Stories

Cabinet Approves ₹3,630.77 Cr for Jewar Airport Road Connectivity

NEW DELHI: On Tuesday, the Cabinet approved a revised total capital expenditure of ₹3,630.77 crore for the development of road connectivity to the forthcoming Jewar International Airport in Uttar Pradesh. The proposed 31.42-kilometer corridor will offer direct, high-speed connections from South Delhi, Faridabad, and Gurugram to the airport, boosting economic growth and logistics efficiency across the National Capital Region (NCR), according to an official statement. The Cabinet Committee on Economic Affairs (CCEA), led by Prime Minister Narendra Modi, has endorsed a revised budget of ₹3,630.77 crore for creating greenfield connectivity to the airport via the Delhi-Faridabad-Ballabhgarh-Sohna Spur of the Delhi-Mumbai…

Latest StoriesRegulatory

Mumbai Police nab Kolhapur developer in ₹55 crore scam

MUMBAI: The Economic Offences Wing of the city police has arrested a developer from Kolhapur for allegedly colluding with others to mortgage and sell flats in a redevelopment project in Versova, Andheri. This was done without the consent of the society members, using forged documents, resulting in a loss of Rs 55 crores. The arrested individual, Amrut Uttam Mahendrakar (34) from Ichalkaranji, is accused of aiding in the creation of forged documents and facilitating the illegal sale and mortgage of flats. He is the second suspect arrested in this case, following the capture of Amarjit Shukla, owner of Mid City…

Latest StoriesRera

Haryana RERA Denies Buyers’ Pleas, Cites Jurisdiction Issues

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRERA) has dismissed multiple complaints from homebuyers and residents, determining that the claims were either outside its jurisdiction or that the complainants had received previous statutory relief. One case involved Anju Rani, a resident of Ardee City, who sought a refund of ₹75,000 for a maintenance security deposit. The Authority concluded that the dispute stemmed from a private resale transaction, which did not fall under the promoter–allottee relationship as outlined by the RERA Act, 2016. Rani contended that the deposit should be refunded once maintenance services were handed over to the municipal authority…

InfrastructureLatest Stories

Joint Panel Formed in Haryana to Investigate Illegal Tree Felling

GURUGRAM: In response to directives from the National Green Tribunal (NGT), Deputy Commissioner Ajay Kumar has established a joint committee to investigate unlawful tree felling and unauthorized construction in the Aravali area of Raisina village, located in Sohna tehsil. The committee has been tasked with conducting an on-site inspection of Gair Mumkin Pahar land, characterized by rocky or steep terrain unsuitable for cultivation. The committee is to identify any violations of environmental and forest laws and recommend preventive and remedial actions. The four-member panel, led by the Sohna sub-divisional magistrate, includes a representative from the district forest office, the executive…

IndustryLatest Stories

Gurugram: Soil Collapse at Construction Site Kills Seven

Representative AI image GURUGRAM: In a tragic incident, seven workers lost their lives and four others, including three from Nepal, were injured when a mound of soil collapsed on them at a construction site on Monday evening at Signature Global Society in Gurugram’s Sidhrawali area. DSP Bhiwadi, Rajasthan, Yogesh, informed reporters that the construction of a Sewerage Treatment Plant (STP) was underway when the soil suddenly gave way, trapping some laborers beneath the debris. Approximately 12 to 15 laborers were affected. Immediately following the incident, a team from Bilaspur Police Station, Gurugram, along with State Disaster Response Force (SDRF) and…

Latest StoriesRegulatory

Bengaluru issues final warning to 1,010 property tax defaulters

BENGALURU: The Greater Bengaluru Authority (GBA) has issued a final warning to property owners who are overdue on their property taxes, with a total of Rs 33.9 crore pending from 1,010 property owners across the five city corporations. Special Commissioner (Revenue) Munish Moudgil stated that Rs 14.3 crore is owed by 510 significant defaulters, while Rs 19.6 crore is awaiting resolution in 500 property tax reassessment cases. “Zonal joint commissioners have been directed to accelerate the recovery from major defaulters and those in reassessment. The list of the top 50 defaulters and reassessment cases for each municipal corporation is now…

Latest StoriesResidential

Mumbai: Flats for Goregaon-Mulund Project PAPs by March End

Representative image MUMBAI: The construction of buildings for the rehabilitation of 252 project-affected persons in the Goregaon-Mulund Link Road (GMLR) project is nearing completion, with expectations to finish by the end of March, officials reported. The PAPs will be provided with compact 300-square-foot apartments featuring modern amenities at Kanjurmarg West. The civic body is currently constructing 906 apartments across seven buildings, covering approximately 10,050 square meters. Of these, two buildings are in the final stages of construction. The remaining apartments are expected to be completed on schedule for immediate handover to the project-affected persons. BMC Additional Commissioner Abhijit Bangar has…

Latest StoriesRegulatory

Lucknow Civic Body Seals Seven Establishments for Tax Dues

LUCKNOW: On Monday, the Lucknow Municipal Corporation (LMC) sealed seven establishments across zones 2 and 4 as part of a drive to recover outstanding property and house tax from major defaulters. In zone 4, three government-sector buildings were sealed due to significant tax arrears. Zonal officer Shilpa Kumari stated that these institutions had received multiple notices to clear their dues, but payments were not forthcoming. The sealing process was initiated in accordance with municipal regulations. According to records, these three establishments collectively owe more than Rs 1.5 crore in property taxes. Officials confirmed that the enforcement team carried out the…