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IndustryLatest Stories

Hyderabad: Second Raidurg land parcel sold for ₹204 crore/acre

Representative AI image HYDERABAD: The Telangana State Industrial Infrastructure Corporation (TGIIC) achieved a remarkable Rs 204 crore per acre for a 5.09-acre plot at Raidurg during Monday’s e-auction. Reports indicate that Vamsiram builders acquired the prestigious plot for a total of Rs 1,040 crore. Last week, another plot measuring 6.29 acres was sold in the same area for Rs 237 crore per acre. Collectively, the two parcels totaling 11.38 acres have generated an impressive revenue of Rs 2,529 crore for the government. During Monday’s auction, the government secured a significant 46.8% premium over the reserved price of Rs 139 crore.…

InfrastructureLatest Stories

Dalmandi Drive Progresses: 112 Buildings Demolished in Varanasi

Representative AI image VARANASI: The demolition of structures for the Dalmandi road-widening project has resumed following a pause during Bakrid, with over 112 buildings now demolished. A total of 187 structures have been earmarked for removal as part of the initiative aimed at improving access to Kashi Vishwanath Dham from the Naisadak junction along the Lahurabir-Godowlia road. Currently, demolition work is ongoing at 14 additional buildings, while discussions are in progress with the management of six mosques located in the project’s alignment. On Sunday, PWD Executive Engineer KK Singh stated that the demolition count exceeded 100 as of Saturday and…

Latest StoriesResidential

Odisha Housing Board Launches Four New Affordable Projects

Representative Image BHUBANESWAR: The Odisha State Housing Board (OSHB) has unveiled plans for four significant projects for the financial year 2026-27, aimed at producing approximately 6,877 inclusive residential units. During a review meeting led by housing and urban development secretary Usha Padhee, the four proposed initiatives were detailed: the Suango Public-Private Partnership (PPP) project on 12.9 acres near AIIMS-Bhubaneswar, Ranasinghpur EPC housing, Patrapada housing, and the Basanti Colony joint venture residential apartment project. The Suango project will establish 2,867 dwelling units, among which 1,034 will be affordable housing. This initiative is expected to generate at least Rs 210 crore in…

IndustryLatest Stories

Suraj Estate Subsidiary Buys Mumbai Land Rights for ₹75 Crore

Representative image NEW DELHI: Suraj Estate Developers, via its wholly owned subsidiary Iconic Property Developers, has signed a memorandum of understanding (MOU) for the acquisition of development rights to 2,941 sq meters of land in Mahim (West), Mumbai, for a total cost of ₹75 crore. This land, when combined with the existing commercial property — Suraj One Business Bay — is expected to yield an additional saleable area of approximately 1.50 lakh sq ft, with an estimated gross development value (GDV) of ₹800 crore. Rahul Thomas, the whole-time director of the company, stated, “With this acquisition, the total GDV of…

InfrastructureLatest Stories

Gurugram: Missing Links Force 7 km Detour for Vatika Commuters

File Photo GURUGRAM: Over ten years since the launch of Vatika India Next township, two segments of a planned sector road—50m and 15m—remain unfinished, affecting connectivity for around 10,000 families. Residents reported that these gaps are part of a planned 24-meter-wide sector road and have been incomplete since they moved to the township in 2013, due to pending land acquisition. While the unfinished sections are relatively short, their absence has hindered the overall functionality of the road network. “This road is crucial for accessing the Dwarka Expressway and our daily commute,” said Pradip Rahi, president of the Vatika G21 Residents’…

IndustryLatest Stories

Puravankara to Co-Develop 11.23-Acre Site in North Bengaluru

NEW DELHI: Puravankara has entered into a joint development agreement (JDA) for an 11.23-acre land parcel in Doddagubbi, North Bengaluru, with an estimated gross development value (GDV) of ₹1,100 crore. The forthcoming residential apartment project will encompass approximately 0.74 million sq ft. Ashish Puravankara, Managing Director of Puravankara, stated, “FY26 marked a significant milestone for us, with record annual sales reaching ₹7,407 crore, representing a 55% year-on-year growth. As we strive towards our FY27 sales target of ₹11,200 crore, our focus will be on enhancing our presence in markets characterized by strong infrastructure, job accessibility, and sustained demand.” In FY26,…

Latest StoriesRegulatory

Buyers Can’t Legalize Illegal Construction, Says Calcutta HC

KOLKATA: The Calcutta High Court has upheld the demolition of the fourth floor of a building under Howrah Municipal Corporation, stating that flat owners cannot demand the legalization of unauthorized construction solely based on their financial investment in that floor. The case was brought forth by the owners of a flat on the top floor, who petitioned the division bench of Justices Debangsu Basak and Reetobroto Kumar Mitra for urgent consideration on Sunday. The division bench noted that landowners were notified by the Howrah Municipal Corporation, which conducted an evaluation of the legality of the structure. “There is no evidence…

Latest StoriesRegulatory

NCLAT Gives Supreme Housing Final Opportunity for Canara Dues

MUMBAI: The National Company Law Appellate Tribunal (NCLAT) has granted the promoters of Supreme Housing and Hospitality an opportunity to settle their outstanding dues with Canara Bank by depositing a reduced amount of ₹460 crore into a no-lien account at the bank by June 13. The Mumbai-based real estate firm carries a total debt of ₹567 crore to the bank. The NCLAT stated, “We believe that the appellant should be given a final opportunity to clear its debt. The ₹460 crore must be deposited with the bank in a no-lien account by June 13, 2026. If the appellant fails to…

Latest StoriesResidential

Ghaziabad Body to Review Recurring Fires in Societies

GHAZIABAD: Following two major fires in Indirapuram within a month, the district administration has requested reports from the Ghaziabad Development Authority, the discom, and the fire department. A review meeting is scheduled for June 2, officials announced on Friday. The recent fire incidents in Ghaziabad’s Indirapuram—specifically in Gaur Green Avenue and Gaur Biz Business Park—have intensified worries regarding fire safety and emergency response in high-rise residential and commercial buildings. On April 29, a fire erupted in a flat in Tower D of Gaur Green Avenue, affecting five floors and damaging at least 13 apartments. Residents were evacuated safely, and while…

Latest StoriesRera

MahaRERA Dues Recovery Stalls Despite Efforts by Officers

PUNE: The Maharashtra government’s effort to expedite the recovery of dues for distressed homebuyers is facing significant challenges. Despite assigning dedicated revenue recovery officers in critical districts five months ago, collections have only marginally increased by Rs10 crore. According to data from the Maharashtra Real Estate Regulatory Authority (MahaRERA), total recoveries rose from Rs270 crore in December 2025 to roughly Rs280 crore now. This slow progress continues despite a state mandate urging faster enforcement of recovery warrants. Concerns over the slow pace of recovery are amplified by the scale of the defaults. Since its launch in May 2017, MahaRERA has…