Category: Latest Stories

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Latest StoriesRegulatory

ED apprehends Punjab real estate tycoon in land scam

CHANDIGARH: The Enforcement Directorate (ED) has arrested Ajay Sehgal, a real estate businessman, in connection with a money laundering case involving alleged fake consent letters used to acquire Change of Land Use (CLU) from the Punjab government, officials reported on Saturday. Officials stated that Sehgal, who also serves as Secretary of the Indian Cooperative House Building Society (ICHBS), was apprehended on Friday by the Jalandhar office of the ED under the Prevention of Money Laundering Act (PMLA). Earlier this month, the ED conducted raids at Sehgal’s properties linked to the Suntec City project developed by ICHBS. This investigation originated from…

InfrastructureLatest Stories

Maharashtra: TDR Becomes Key Currency for Infrastructure

NAGPUR: An innovative infrastructure model being tested in the Besa-Pipla Nagar Panchayat is sparking debates about the potential for Transferable Development Rights (TDR) to become a new form of currency for civic development initiatives. Following the launch of what is considered Maharashtra’s first road project developed via a TDR-based framework, the local authority has initiated another such project, reigniting discussions about its sustainability and long-term viability. Unlike traditional civic infrastructure projects funded through government grants or municipal budgets, the TDR-based model enables developers to undertake construction in exchange for benefits related to development rights. This approach significantly lowers direct financial…

IndustryLatest Stories

HDFC Bank Funds ₹300 Crore Luxury Housing in Hyderabad

NEW DELHI: HDFC Bank has allocated Rs 300 crore towards an ultra-luxury residential project in Kokapet, Hyderabad, as developers seek structured financing in response to a cooling housing market and an increasing demand for high-end homes. This investment will facilitate the completion of the project, which has a gross development value of Rs 2,000 crore and is being developed by DE Blue Oak and P Mangatram. Transaction advisor CBRE has opted not to comment. Recently, there has been a surge in funding within the residential real estate sector as developers look for credit options amid a dip in sales. “There…

Latest StoriesResidential

Hyderabad’s Western Corridor Could See Rise in Property Registrations

HYDERABAD: If the Telangana government accepts new recommendations from the revenue department, property registration rates in the upscale western corridor could see an increase of nearly four times. Sources indicated to the TOI that the revenue department has suggested revised registration values ranging from Rs 50 crore to Rs 55 crore per acre for regions like Raidurg and Gachibowli, in contrast to the current rates of Rs 11.32 crore to Rs 13.85 crore per acre. The state government is yet to finalize whether to implement these recommendations fully or limit the increase to around 100%. Even a 100% hike would…

IndustryLatest Stories

Maharashtra Offers Free Rural Property Cards, Waives Fees

Representative AI image NAGPUR: The state government has announced that villagers throughout the state will be issued property cards free of charge as part of the Centre’s Swamitva scheme. To alleviate the financial burden on rural residents, the government will also waive the sanad fees for property ownership regularization. During a review meeting at the Konkan Divisional Commissioner’s office on Wednesday, Revenue Minister Chandrashekhar Bawankule highlighted the state’s aim to simplify the legal ownership process for rural households. The guardian minister for the Nagpur district stated that the decision will come into effect after necessary modifications to Gram Panchayat Form…

Latest StoriesResidential

Bengaluru Renters Disappointed as Promises Fall Short

BENGALURU: Numerous property owners who entered agreements with an asset management company have reported delays in receiving their rental income. Some owners claim they haven’t received payments for five to eight months. The number of such cases appears to be growing, raising concerns about disputes over leasing agreements. “I signed a lease with Jones Asset Management to rent out my 3 BHK flat last year. Initially, everything was fine, but later they began to delay rent payments by one or two months,” stated L Kumar, one of the property owners. Another property owner, Sriram P, expressed concern after not receiving…

Latest StoriesRera

110+ Developers Receive Odisha RERA Notices for Missing Reports

BHUBANESWAR: The Odisha Real Estate Regulatory Authority (Orera) has issued show-cause notices to 113 developers due to their failure to submit mandatory quarterly progress reports (QPRs). As mandated by the Real Estate (Regulation and Development) Act, 2016, all registered promoters are required to submit QPRs, detailing the current status of their projects, including construction timelines and financial information such as funds received from allottees and their usage. Orera warns that non-compliance with the Act and its provisions—such as not updating QPR data on project websites—could lead to penalties of up to 5% of the project’s estimated cost. Developers who do…

IndustryLatest Stories

Kolte-Patil Reports FY26 Net Loss of ₹38.08 Crore

NEW DELHI: Kolte-Patil Developers (KPDL) reported a net consolidated loss after tax of ₹38.08 crore for the financial year 2025-26. This marks a significant decline from a profit after tax of ₹109.33 crore achieved in FY25, according to a filing with the BSE. In FY26, the company’s net consolidated total income was ₹802.50 crore, a decrease of 54.50% from ₹1,763.73 crore in FY25. In Q4 FY26, net consolidated total income fell by 63.75%, totaling ₹262.16 crore, compared to ₹723.20 crore in the same quarter of the prior year. The company reported a loss after tax of ₹66.29 crore for Q4…

IndustryLatest Stories

Ashiana Housing to invest ₹186 crore in Jaipur project phase 1

NEW DELHI: Ashiana Housing is set to invest ₹186.78 crore in the first phase of Ashiana Oma, a residential group housing project located in Mansarovar Extension, Jaipur. The total cost of the project is estimated at ₹558.60 crore. The development is situated in the Ajmer Road micro-market and spans approximately 10.35 acres, planned in two phases with a total of 490 units. The initial phase will consist of 280 residences, featuring 3BHK and 4BHK apartments and penthouses. Unit sizes will range from around 1,740 sq ft to 2,700 sq ft. Ashiana Oma is being realized through a joint venture under…

InfrastructureLatest Stories

Water Shortage Affects Premium Townships in Indore

Representative AI image INDORE: The ongoing water crisis this summer has severely impacted various upscale residential areas and high-rise apartment complexes in Indore, leaving them struggling to secure daily water supplies. The drying of borewells coupled with insufficient Narmada water supply has forced residents in upscale neighborhoods to rely heavily on expensive private water tankers for nearly a month, significantly increasing maintenance costs and disrupting daily routines. Areas including Saket, Race Course Road, Kanchan Bagh, Manoramaganj, Nipania, Mahalaxmi Nagar, Vijay Nagar extension, parts of Super Corridor, and several high-rise residential clusters have been particularly affected. Most societies are now ordering…