Category: Latest Stories

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Latest StoriesRegulatory

ED Arrests Noida’s Bhasin Infotech Promoter

NEW DELHI: The Enforcement Directorate has apprehended the promoter of a Noida-based real estate firm in a money laundering investigation tied to the alleged cheating of home buyers, officials reported on Saturday. Satinder Singh Bhasin, director of Bhasin Infotech and Infrastructure Pvt Ltd (BIIPL) and owner of Grand Venice Mall in Greater Noida, was arrested on Friday. He was presented before a special court under the Prevention of Money Laundering Act (PMLA) in Ghaziabad, Uttar Pradesh, which ordered him to be held in Enforcement Directorate (ED) custody until June 6, as stated by officials. Authorities have claimed that Bhasin was…

Latest StoriesRegulatory

Himachal HC Probes Irregularities in Solan Housing Project

SHIMLA: The Himachal Pradesh High Court has issued notices to the state and central governments, the CBI, the Enforcement Directorate, and the non-agricultural promoters of the Chester Hills housing project in Solan, regarding alleged illegalities in the execution of this multi-crore venture on approximately 275 bighas of agricultural land. While hearing a Public Interest Litigation (PIL), a division bench of the high court, consisting of Chief Justice Gurmeet Singh Sandhawalia and Justice Bipin Chander Negi, acknowledged allegations related to violations of Section 118 of the Himachal Pradesh Tenancy and Land Reforms Act, 1972, which restricts the sale of agricultural land…

Latest StoriesResidential

Mumbai property registrations up 7% to 12,315 in May 2026

NEW DELHI: The Brihanmumbai Municipal Corporation (BMC) reported that Mumbai saw 12,315 property registrations in May 2026, marking a 7% increase compared to the previous year, according to Knight Frank India. This figure represents the highest number of registrations for May in the last 14 years, exceeding the peak recorded in May 2025. The state government earned ₹1,051 crore from stamp duty during this month, reflecting a 1% year-on-year decline. Knight Frank indicated that this slight reduction in revenue, despite the rise in registrations, was due to changes in the mix of transactions. However, registrations saw a 14% decrease from…

CommercialLatest Stories

Airbnb Leases 46,437 Sq Ft Office in Gurugram’s DLF Cyber City

NEW DELHI: Airbnb Global Capability Center has secured a lease for 46,437 sq ft of office space in DLF Cyber City, Gurugram, from DLF Cyber City Developers, according to Propstack, a real estate data analytics firm. The leased area is situated on the 21st floor of Tower A in Building No. 5 of DLF Cybercity, covering a usable area of 32,506 sq ft. The lease, effective from October 1, 2025, has a duration of five years, with Airbnb agreeing to pay a rent of Rs 132.5 per sq ft monthly, totaling Rs 61.53 lakh each month. This results in an…

Latest StoriesRegulatory

SC: NMMC Can Collect Property Tax in Thane-Belapur Belt

NAVI MUMBAI: The Supreme Court ruled on Wednesday that the Navi Mumbai Municipal Corporation (NMMC) has the authority to collect property tax in the Thane Trans Creek-MIDC area, commonly referred to as the Thane-Belapur industrial corridor. This decision, stemming from a case brought forth by the Small Scale Entrepreneurs Association (SSEA) regarding the Thane Trans Creek-MIDC area, allows NMMC to impose property taxes on more than 3,000 industries in the corridor. In 2001, the SSEA petitioned the Bombay High Court against NMMC’s property tax orders, arguing a jurisdictional dispute since MIDC also charged service fees in the area. The High…

IndustryLatest Stories

Ghaziabad Builders Urged to Give Noon Breaks to Workers

GHAZIABAD: The local authorities have issued a guideline urging builders to refrain from employing laborers on construction sites from 12 PM to 4 PM due to the ongoing heatwave conditions. The labor department has initiated an awareness campaign at construction areas and labor congregation points throughout the district. This effort aims to educate workers on heatwave precautions and provide them with ORS solutions and cold beverages like shikanji. “As part of our initiative, we have conducted camps at major construction sites in Siddharth Vihar and Wave City, reaching out to at least 20,000 workers. Officials distributed towels, ORS packets, and…

IndustryLatest Stories

CREDAI Visakhapatnam Calls for Easier Registration for Housing Projects

Representative AI image VISAKHAPATNAM: CREDAI Visakhapatnam has requested the stamps and registration department to implement a project ID-based framework under CARD 2.0 to enhance the registration process for gated communities and large residential projects. The association submitted a representation to the deputy inspector general of the stamps and registration department, praising the CARD 2.0 initiative for reinforcing digital governance, transparency, and improved public service delivery. However, they noted that the current check slip generation before registration consumes considerable time, particularly for large residential projects, often exceeding 90 minutes. CREDAI pointed out that the repetitive entry of information for each unit,…

Latest StoriesRera

Gujarat RERA Requests Timeline Extensions for Govt Projects

AHMEDABAD: The Gujarat Real Estate Regulatory Authority (GujRERA) has reached out to the Roads and Buildings (R&B) department to inquire if there have been any extensions granted for government civil projects due to the West Asia crisis. Real estate groups are urging GujRERA to approve a six-month extension for ongoing projects, pointing to significant increases in construction costs and uncertainties in supply chains. Sources indicate that GujRERA is examining existing practices within the state government’s contracting framework before making decisions on the developers’ requests. A source from GujRERA stated, “The central government has granted extensions of two to four months…

IndustryLatest Stories

Telangana: Raidurg Land Rakes in ₹5,000 Crore in 8 Months

HYDERABAD: In just eight months, a two-square-kilometre area in Raidurg—Hyderabad’s Knowledge City—has generated over Rs 5,000 crore for Telangana, emerging as the state’s prime real estate destination. The Telangana Industrial Infrastructure Corporation (TGIIC) has propelled this significant revenue surge through multiple high-value land auctions, further solidifying Raidurg’s position as a crucial income generator for the state government. Officials call the 439-acre region a “gold mine,” attracting IT firms, corporate giants, and notable institutions such as T-Hub and T-Works, all benefiting from the area’s premium location. Its proximity to the international airport and strong connectivity have enhanced its attractiveness. The Congress…

Latest StoriesRegulatory

ED Seizes ₹634 Crore Assets in Unitech Money Laundering Case

NEW DELHI: The Enforcement Directorate announced on Friday that it has attached assets valued at ₹634 crore from a significant real estate project by the Unitech Group in Noida. This action pertains to a money laundering investigation related to suspected fraud against homebuyers. A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to seize properties linked to the Unitech Golf and Country Club (UGCC) Project, located in Sectors 96, 97, and 98 of Noida, Uttar Pradesh, according to the central agency’s statement. The seizure includes leasehold rights over 347.83 acres of land and equity stakes…