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Latest StoriesRegulatory

Delhi HC Adds JK Paper as Defendant in Prithviraj Bungalow Case

Delhi High Court NEW DELHI: The Delhi High Court has added JK Paper Ltd as a defendant in the ongoing legal matter regarding a 3,731-square-yard bungalow located on Prithviraj Road in Lutyens’ Delhi, which the company purchased in December 2021 for Rs 250 crore. Punit Beriwala, the managing director of Vipul Ltd, contested the sale of this land, asserting that he had already made an advance payment for it. Beriwala’s attorney, Lokesh Bhola from Legal Icons, stated that his client made a significant payment towards the property in 2004 to previous owners Bhai Manjit Singh, Maheep Singh, and Bhai Vikramjit…

IndustryLatest Stories

Delhi to Use DMA Act to Empower DMs Against Illegal Constructions

NEW DELHI: Chief Minister Rekha Gupta announced on Friday that the Delhi government will hold officials accountable for corruption, invoking the Disaster Management Act of 2005. This comes in the wake of a tragic fire that claimed 21 lives at a hotel in South Delhi, which was constructed with blatant disregard for safety regulations. The decision was made during a meeting Gupta held with various departments. “Officials who exhibit negligence or engage in corrupt practices will now face penalties under the Disaster Management Act, 2005. This includes potential imprisonment of up to two years and significant fines,” the chief minister…

IndustryLatest Stories

Truhome Finance, Veegaland Get Sebi Approval for IPO

NEW DELHI: Five companies, including Oyo’s parent company Prism, Warburg Pincus-backed Truhome Finance, and Veegaland Developers, have received approval from Sebi to launch their initial public offerings (IPOs), as reported by the capital market regulator on Friday. The other firms that gained approval from the Securities and Exchange Board of India (Sebi) are Advanta Enterprises, which focuses on agricultural solutions, and Mehta Hitech Industries. According to the update, Sebi provided its observations on the draft IPO documents from June 1 to June 5. These observations are crucial for companies to move forward with their public issues. The preliminary IPO papers…

Latest StoriesRegulatory

Karnataka HC Supports Land Acquisition for Banashankari VI Stage

BENGALURU: In a significant development for the Bangalore Development Authority (BDA) and site allottees, the Karnataka High Court has upheld the acquisition of specific land parcels in Hemmigepura and Ganakallu villages located in Kengeri hobli for the Banashankari VI Stage project. A division bench consisting of Justices DK Singh and S Rachaiah delivered the ruling, overturning a previous decision made by a single bench on January 27, 2025. The court emphasized that once land is acquired by the state government free from all encumbrances, there is no basis for challenging the acquisition. It deemed the petition as a significant misuse…

Latest StoriesResidential

Karnataka Sees Rise in Women’s Home and Land Ownership

Representative AI image BENGALURU: The percentage of women owning houses and land in Karnataka has nearly doubled over the past five years, indicating a shift in family decision-making and attitudes towards wealth and security. This trend follows a rise in women’s investments in property, either independently or collectively. According to the National Family Health Survey-6 (NFHS) conducted in 2023-24, approximately 29.5% of households in Karnataka have at least one female member who owns a house and/or land, either independently or jointly. This marks a significant increase from 16.2% in the previous NFHS-5 (2019–21). Notably, female/joint ownership in rural areas stands…

InfrastructureLatest Stories

Ghaziabad Mandates Two Firefighters per RWA Shift

GHAZIABAD: The district administration is set to demolish illegal structures and encroachments within housing societies, as they pose significant fire hazards that could impede rescue operations in emergencies. Resident welfare associations (RWAs) have been instructed to appoint two trained firefighters per residential society, with shifts lasting 12 hours each. This decision was made during a review meeting led by district magistrate Ravindra Kumar Mandar, prompted by a series of major fire incidents in the area—at least 30 major blazes were reported in the past two months, including the notable fire on April 12 at Gaur Green Avenue in Indirapuram. The…

InfrastructureLatest Stories

Delhi civic body seals 43 properties, demolishes 82 in June 2026

Representative AI image NEW DELHI: The Municipal Corporation of Delhi (MCD) has reported the demolition of 82 properties and the sealing of 43 properties since June 1, following a building collapse and a fire in the city. On Wednesday, a fire at a Hauz Rani B&B resulted in the loss of 21 lives, while a multi-storey building collapse in Saidulajab claimed six lives on May 30. Officials stated that the crackdown on unauthorized constructions is in response to directives from Lieutenant Governor TS Sandhu and Chief Minister Rekha Gupta. Following the B&B fire, a joint survey by the MCD identified…

IndustryLatest Stories

Registration Fees Rise in Hyderabad’s Key Growth Areas

HYDERABAD: The western corridor of the city, known for rapid real estate growth over the past decade, is facing a significant increase in property registration fees. From Friday, the Telangana state government’s updated land rates have been implemented, affecting both agricultural and non-agricultural land. The steepest increases were observed in the western areas, with surrounding neighborhoods seeing hikes of 25% to 75%. Several core city areas experienced less severe adjustments, with residential zones limited to a 25% rise. The most notable change occurred in Raidurg Panmaktha, where the price for one acre recently soared to Rs 237 crore. The registration…

IndustryLatest Stories

STT Global buys 3.5 acres in Navi Mumbai for ₹282 crore

Representative image Data centre operator STT Global Data Centres India has acquired a 3.48-acre industrial property in Navi Mumbai’s Mahape locality for ₹282 crore, driven by sustained demand for well-located sites to support digital infrastructure development. The company’s India division purchased this asset from Repro India, a Mumbai-based printing, publishing, and book distribution firm. The transaction was formalized on May 22, with stamp duty amounting to ₹2.56 crore. The property, situated in the MIDC-developed TTC Industrial Area at Khairane, comprises 3.48 acres of land and an existing built-up structure of 73,496 sq ft, according to documents obtained from CRE Matrix,…

Latest StoriesResidential

MHADA Begins Handover of 537 Flats in Naigaon BDD Project

NEW DELHI: The Maharashtra Housing and Area Development Authority (MHADA) has initiated the allotment and possession process for 537 rehabilitation flats within the Naigaon BDD Chawl redevelopment project in Mumbai. The flats are situated in towers 1, 2, and 3 of rehabilitation building number one. The allotment process is being executed at MHADA’s project office on the ground floor of tower five at Naigaon-Dadar. On the first day, MHADA’s Mumbai Housing and Area Development Board issued allotment letters to 15 eligible residents, and possession of the flats was granted to all 15 beneficiaries after completing the necessary documentation. Rehabilitation building…