Tag: Bhubaneswar

CommercialLatest Stories

Indiqube Spaces Reports ₹17.06 Crore Net Loss in Q3 FY26

NEW DELHI: Indiqube Spaces has reported a net loss after tax of ₹17.06 crore for the quarter ending December 31, 2025, according to a filing with the BSE. The company’s total net income for Q3 FY26 reached ₹411.09 crore. Rishi Das, co-founder and CEO, stated, “With a healthy EBITDA margin of 21% in Q3 FY26, we are optimistic about continued stability in our margins and anticipate a strong closing for the financial year in Q4.” The debt-to-equity ratio improved to 0.15 in Q3 FY26, down from 0.80 in Q3 FY25. ROCE increased to 23% in Q3 FY26, compared to 15%…

IndustryLatest Stories

Bhubaneswar Body Approves Demolition Plan, Sparks Outrage

Representative AI image BHUBANESWAR: In an unexpected development, the Bhubaneswar Development Authority has approved a building plan for a five-storey structure in Andilo, Balianta, on the outskirts of the city, despite a demolition order previously issued by the housing and urban development department. This approval, reportedly granted in December last year, has faced significant backlash from landowners, raising concerns about adherence to legal and regulatory directives that declared the structure unauthorized and mandated its demolition. Documents indicate that the residential building was erected without the necessary building plan approval from the BDA or a no-objection certificate from the water resources…

Latest StoriesResidential

Odisha to Convert Vacant Government Buildings into Affordable Housing

Representative AI image BHUBANESWAR: The Odisha government is taking steps to identify vacant and unused state-owned buildings in urban areas to convert them into affordable rental housing, as stated in an official document. The initiative aims to improve housing options for the urban poor and working class. Usha Padhee, Additional Chief Secretary of the Housing & Urban Development Department, directed key departments to identify underutilized assets within their control and to report this information to the Odisha Urban Housing Mission (OUHM). Padhee emphasized that housing is essential for urbanization, impacting health, stability, education, and economic opportunities for families. Previously, housing…

Latest StoriesRera

Odisha RERA to Hold Weekly Meetings for Timely Project Registrations

BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) plans to undertake visits to Chhattisgarh, Andhra Pradesh, and Telangana to study successful practices in the timely issuance of registration certificates for real estate projects. Additionally, ORERA will hold weekly meetings with its officials responsible for registration to discuss and resolve issues, ensuring that property registration certificates are granted within the mandated 30-day timeframe. This decision comes after ORERA received criticism for delays in issuing registration certificates, which are crucial documents affirming the authenticity of projects. The certificates are granted following a comprehensive review of land ownership and layout plans. While the…

Latest StoriesRegulatory

SC Upholds Orissa HC Ruling on Pahala Project CC Legality

BHUBANESWAR: The Supreme Court has stayed the Odisha High Court’s December 2025 decision that overturned the orders of the Odisha Real Estate Appellate Tribunal (OREAT) concerning a significant real estate project in Pahala, located on the outskirts of the city, along with the interests of its allottees. The High Court previously determined that the project was completed before the initiation of the Odisha Real Estate (Regulation and Development) Act, 2016 (RERA), rendering homebuyers’ complaints inadmissible. This conclusion was based on a completion certificate issued for the project in 2015. However, the Supreme Court’s intervention has placed this ruling on hold,…

IndustryLatest Stories

Odisha Drafts Law to Simplify Land Management

Representative image BHUBANESWAR: The Odisha government is set to introduce a new land management law in the upcoming assembly session, aiming to replace multiple existing Acts related to land administration, as stated by Revenue and Disaster Management Minister Suresh Pujari on Monday. A consultative meeting regarding the proposed legislation, known as the Odisha Govt Land Management Act, was conducted on Monday. “The draft is ready, and we anticipate introducing the Bill during the next session of the Vidhan Sabha,” Pujari informed the media. The proposed law aims to replace outdated and overlapping revenue statutes with a more cohesive legal framework.…

Latest StoriesRegulatory

Idco Land Buildings Owe ₹72 Crore in Holding Tax

BHUBANESWAR: The Bhubaneswar Municipal Corporation (BMC) has determined that it expects to collect Rs 72 crore in holding tax from properties built on land owned by the Odisha Industrial Infrastructure Development Corporation (Idco). Following government approval last year, BMC will begin collecting this holding tax from Idco properties starting in the financial year 2025-26. Of the total Rs 72 crore, around Rs 32 crore is owed by educational institutions located on Idco land, according to civic body officials. Holding tax is crucial for strengthening the BMC’s financial resources. In addition to educational institutions, government and commercial establishments, as well as…

IndustryLatest Stories

Bhubaneswar body criticized for delayed PMAY-U 2.0 village list

BHUBANESWAR: The Housing and Urban Development Department has once again reprimanded the Bhubaneswar Development Authority (BDA) for not providing the required list of revenue villages for the Pradhan Mantri Awas Yojana–Urban 2.0 (PMAY-U 2.0). A reminder was issued, instructing the authority to submit the certified list “immediately.” In the reminder, Joint Secretary Satish Chandra Singh noted that despite prior instructions on February 28, 2025, BDA failed to provide the list of villages certified by the Vice-Chairman in the required format. The department emphasized the need for BDA to prioritize this matter, citing that the delay has a direct impact on…

IndustryLatest Stories

Over 70 Realty Projects Missed Registration Deadline: RTI Reply

Sure! Here’s a rewritten version of the content you provided: BHUBANESWAR: Concerns are rising among promoters and homebuyers due to delays in the issuance of registration certificates by the Odisha Real Estate Regulatory Authority (ORERA). An RTI response has highlighted significant lapses from the approved timelines. As per the Odisha Real Estate (Regulation and Development) Act, 2016, intended to safeguard homebuyers’ interests while regulating the sector, the authority is required to process registration applications within 30 days of receipt. Currently, many approvals are taking much longer than this timeframe. The RTI response indicated that 72 projects have yet to receive…

InfrastructureLatest Stories

Bhubaneswar BDA Advances Town Planning Scheme No. 8

BHUBANESWAR: The Bhubaneswar Development Authority (BDA) has begun implementing Town Planning Scheme (TPS) no. 8, which encompasses 560.81 acres in the Andharua and Daspur mouzas. This initiative is part of the BDA’s extensive plan to promote systematic urban development without compulsory land acquisition for the proposed inner ring road in the TP zone, reducing delays and legal disputes. According to a recent tender released by the BDA, the agency will conduct a comprehensive survey of the area, defining scheme boundaries, roads, and plots, while installing markers at specific points. The agency’s responsibilities will include preparing layout maps, offering digital outputs…