Tag: Hyderabad

IndustryLatest Stories

Telangana aims for ₹2,000 crore per acre in Raidurg auction

HYDERABAD: Two years ago, the Hyderabad Metropolitan Development Authority (HMDA) made headlines by selling a one-acre plot in Neopolis Phase II in Kokapet for an astounding Rs 100.75 crore, which significantly impacted the real estate landscape in Hyderabad. Currently, the Telangana government aims to achieve a similar success with the auction of two land parcels totaling 18.67 acres in Raidurg Knowledge City. The Telangana State Industrial Infrastructure Corporation (TGIIC) has set an upset price of Rs 101 crore per acre for these prime plots located in Hyderabad’s bustling business and IT zone. This area houses over 100 companies across approximately…

InfrastructureLatest Stories

L&T Looks to Exit Hyderabad Metro Over Challenges

HYDERABAD: Larsen and Toubro (L&T), the principal stakeholder in Hyderabad Metro Rail Phase I, has announced its intention to withdraw from the operations of Hyderabad Metro Rail Limited (HMRL) for Phase I and will not participate in the proposed Phase II expansion due to substantial operational difficulties and increasing financial losses. In a letter to the Ministry of Housing and Urban Affairs obtained by TOI, KVB Reddy, Managing Director and CEO of L&T Hyderabad Metro Rail Limited (L&THMRL), detailed various complications arising from the separate management of stations from the two phases. The letter highlights that having different entities operate…

Latest StoriesResidential

Hyderabad Duo Acquires Delhi Bungalow for ₹140 Crore

NEW DELHI: Sasidhar Chinta and Lakshmi Priyadarshini Chinta from the Hyderabad-based conglomerate Vishwa Samudra Group have acquired an 883-square meter bungalow in Jor Bagh, Delhi, for ₹140 crore, as per official documents. The sale deed was registered in June, and the executives paid ₹8.96 crore in stamp duty. The Vishwa Samudra Group is a multinational conglomerate involved in engineering and infrastructure. The group has not responded to RealtyDailyNews’s email inquiry. The property was owned jointly, requiring signatures from 10 representatives on the seller’s side. This transaction contributes to an ongoing trend of high-value deals in the Lutyens’ Bungalow Zone (LBZ),…

Latest StoriesRegulatory

Hyderabad Builder Ordered to Refund Buyer for Undelivered Plot

HYDERABAD: The Ranga Reddy District Consumer Disputes Redressal Commission has mandated a real estate company to refund ₹42.04 lakh, along with interest, to a homebuyer after the firm failed to deliver a promised residential plot in a pre-launch project. The complainant, Gaurav Khandelwal, 43, from Gachibowli, reported that he paid ₹32.34 lakh in 2022 for a 308-square-yard plot in a proposed layout. Per the agreement, the company was required to obtain HMDA approval, develop the site within a year, and register the plot in his name. They also provided a buy-back option with a 30% return if the project didn’t…

Latest StoriesRera

Telangana RERA Slaps Fine on Housing Society for Violations

HYDERABAD: The Telangana Real Estate Regulatory Authority (RERA) has imposed a penalty of ₹18.5 lakh on the Jubilee Hills Co-operative House Building Society Ltd for initiating a real estate project without the required registration under the Act. The authority determined that the society breached the Real Estate (Regulation and Development) Act by advertising and collecting funds for its ‘Jubilee Hills Phase IV’ project located in Manchirevula village, Gandipet mandal, Ranga Reddy district, without RERA approval. The directive requires the society to pay the penalty within 30 days into the TGRERA fund. Moreover, it has been barred from advertising, marketing, booking,…

Latest StoriesRera

Telangana RERA Orders The Building Co. to Refund Buyer with Interest

Sure! Here’s a rewritten version of the content: HYDERABAD: The Telangana Real Estate Regulatory Authority (TG RERA) has mandated infrastructure company The Building Co to refund ₹30 lakh with an annual interest rate of 11% to a buyer of a flat in its ‘TBC Rasagna North’ project located in Pet Basheerabad, Kompally. In a ruling dated September 4 under the Real Estate (Regulation and Development) Act, the authority found the developer guilty of collecting funds via a ‘pre-launch offer’ without proper registration or a valid sale agreement. Additionally, TG RERA imposed a ₹5 lakh penalty on the developer for breaching…

CommercialLatest Stories

日本企業、インドでGCCを狙う

AI-generated image (representative) HYDERABAD: Although Japanese companies have joined the global capability centre (GCC) scene in India later than others, the ‘silver tsunami’ in Japan is driving an influx of these firms to India. With approximately 30% of its population aged 65 and older, Japan faces a rapidly shrinking workforce while dealing with modernisation challenges. This situation has propelled Japanese companies to seek out India’s young and talented tech workforce, alongside its robust engineering capabilities and growing innovation ecosystem. As reported by Joules2Watts Business Solutions, India is now home to around 85 Japanese GCCs employing over 180,000 people, a number…

Latest StoriesRegulatory

ED Uncovers ₹17 Crore Land Fraud Involving Dharani Misuse

HYDERABAD: An investigation by the Enforcement Directorate (ED) has uncovered alleged manipulation of the Dharani Portal, the state’s integrated land records management system, concerning the fraudulent acquisition and sale of government land in Nagaram village. Central to this case is a false affidavit that purportedly supported land succession and subsequent sale. The ED’s provisional attachment order indicates that Khader Unissa submitted an affidavit on the Dharani Portal, claiming to be the sole legal heir of her deceased father, Nawab Haji Ali Khan. Documentation and statements from revenue officials, however, confirm that Ali Khan had two sons, Farooq Ali Khan and…

Latest StoriesRera

Telangana RERA Fines Vasavi Realtors for Delay in Flat Delivery

HYDERABAD: The Telangana Real Estate Regulatory Authority (TG RERA) has mandated Vasavi Realtors LLP to pay 10.8% annual interest to buyers of the Vasavi Lake City project at Hafeezpet due to delays in possession delivery. A group of 23 buyers, including Venkata Satya Naga Sudheer Kurapati from Miyapur, lodged a complaint citing significant delays and poor communication from the developer regarding the west wing of the project. The original handover was set for August 2023 but saw extensions to February 2024 and then February 2025, none of which were fulfilled. The buyers reported having paid a total of 1 crore,…

CommercialLatest Stories

Apple Grows Hyderabad Footprint with 64,000 Sq Ft Lease at WaveRock

Representative Image Apple India has demonstrated its commitment to Hyderabad by leasing an additional 64,125 square feet at WaveRock Tower 2.1, a prominent business park located within the city’s IT corridor. This expansion underscores Apple’s strategic focus on enhancing its operations in India, particularly in Hyderabad, which serves as a key hub for its technology and development initiatives. Documents reveal that Apple India Private Limited has inked a new lease agreement with TSI Business Parks (Hyderabad) Private Limited, the landlord and co-developer of the Special Economic Zone (SEZ). The lease encompasses parts of the underground floor and the 3rd floor…