02 Aug 2024

In Navi Mumbai, a major crackdown on unauthorised constructions has been launched across eight locations, guided by Commissioner Dr. Kailas Shinde and Deputy Commissioner Dr. Rahul Gethe. Actions included demolitions in Belapur, Turbhe, Koparkhairane, and Ghansoli, where structures by Mahesh Kumbhar, Ravindra Waghmare, Vasudev Patil, Dilip Patil, Atmaram Yedge, Jayashree Shinde, Sonu Gupta, and Sagarnath Madhavi were removed. This effort involved a range of equipment and personnel, ensuring strict adherence to urban planning laws. Authorities pledge continued action to enforce regulations and prevent further violations.Read more

01 Aug 2024

Abha Gupta and Shreekrishna Gupta, part of the Lloyds Group promoter family, have acquired a luxurious triplex penthouse for INR 107.15 crore in Worli, Mumbai. Located in the Sea Crest building on Dr. Annie Besant Road, the 13,207 sq ft property boasts a price of INR 81,133 per square foot and includes 16 car parking spaces. This personal investment reflects Mumbai's booming luxury real estate market, characterised by record-high property sales and increasing demand in premium areas like "Billionaire's Row." The transaction highlights the city's status as a hub for ultra-luxury living, attracting industrialists, celebrities, and other high-profile buyers.Read more

01 Aug 2024

Ceratec Group launches Presidential Towers in Ravet, Pune, featuring 2 and 3 BHK homes across a 4.1-acre development. Offering units from 727 sq. ft. to 1031 sq. ft., the project ensures luxury with modern finishes. Strategically located, it provides easy access to the Mumbai-Pune Expressway, Hinjewadi IT hub, and top educational institutions. Amenities include a fitness centre, swimming pool, and lush gardens. Scheduled for possession in December 2025, the project sets new benchmarks for urban living, aligning with Ceratec Group's 25-year legacy of quality and innovation.Read more

01 Aug 2024

BHIVE Workspace has leased 42,000 sq. ft. of Grade-A office space in Garudacharapalya, Mahadevapura, marking its second collaboration with Brigade Group. This new facility on the 7th floor of Summit B will support 1200+ seats and feature state-of-the-art amenities. "This new signing supports our strategic vision to enhance our presence across Bengaluru's key business hubs," said Shesh Rao Paplikar, Founder and CEO. BHIVE aims to expand its managed office space portfolio by an additional 1 million sq. ft. this year, projecting a revenue target of INR 348 Crore for FY 2024-25.Read more

01 Aug 2024

MahaRERA's latest directive mandates developers to specify deadlines for delivering amenities in housing projects. Effective immediately, developers must include a proposed delivery date for amenities like swimming pools, gyms, and clubhouses in Annexure-I of the Agreement for Sale. For multi-phase projects, phase-wise timelines are required. Major changes to facilities or their locations need MahaRERA approval and consent from two-thirds of residents. This regulation aims to address the common issue of uncertain amenity availability and enhance transparency, holding developers accountable for their commitments to homebuyers. MahaRERA's Chairman, Shri Ajoy Mehta, emphasised the importance of clear timelines for promised amenities.Read more

01 Aug 2024

On July 27, 2024, at 4:45 am, the Navi Mumbai Municipal Corporation (NMMC) responded to the collapse of Indira Niwas, a four-story building in Shahabaz Village, Belapur. By 5:00 am, rescue operations were underway with teams from the NMMC fire brigade, NDRF, and key officials including Dr. Kailas Shinde and Mr. Sharad Pawar. Two individuals were rescued and are stable, while three others were found dead. The building, housing 39 adults and 16 children, has been evacuated, with the victims' families set to receive aid from the Chief Minister's Assistance Fund.Read more

31 Jul 2024

State Bank of India (SBI), India's largest lender, has achieved a major milestone by raising INR 10,000 crore through its latest infrastructure bond issuance. This marks SBI's sixth successful bond issuance, reflecting robust investor confidence and strong demand in the market. The bonds, oversubscribed by 3.6 times, offer a competitive coupon rate of 7.36% per annum over a 15-year maturity period. The funds raised will support critical infrastructure projects across sectors like transportation and energy, as well as facilitate affordable housing initiatives. SBI's initiative underscores its pivotal role in fostering economic growth and development in India.Read more

31 Jul 2024

Bollywood actress Kriti Sanon has made headlines with her recent purchase of a 2,000 sq ft plot at Sol de Alibaug, a premium project by The House of Abhinandan Lodha (HoABL). Situated just 20 minutes from the Mandwa Jetty, Sol de Alibaug offers meticulously planned plots ideal for designing dream escapes. Sanon cited peace, privacy, and investment potential as key factors in her decision, highlighting Alibaug's booming tourism and strong rental yields of 4-6%. Her purchase aligns with a growing trend among celebrities, including Bollywood stars like Deepika Padukone and Ranveer Singh, who are drawn to Alibaug's charm and investment opportunities.Read more

31 Jul 2024

Piramal Capital & Housing Finance has marked a milestone with its first-ever USD 100 million social loan, aimed at bolstering initiatives in affordable housing, microfinance for MSMEs, and support for women entrepreneurs. This innovative financing approach not only expands Piramal's funding base but also underscores its commitment to social impact across India. With over 4.1 million customers and a growing retail business focused on mortgages, Piramal plans to further leverage social loans to drive inclusive growth and address key societal challenges, setting a precedent for future investments in impactful financial solutions.Read more

31 Jul 2024

In a major victory, the Delhi Government reclaimed nearly 15 acres of prime land in the Civil Lines area, valued at over INR 1,000 crore. The Delhi High Court's ruling enabled the eviction of residents from the Khyber Pass Hostel, who had occupied the land for over 70 years. The disputed land is part of a larger 32-acre plot worth over INR 2,000 crore, originally entrusted to the Defence Ministry. The eviction, carried out by multiple government agencies, highlights the complexities of land ownership and the importance of proper legal documentation in reclaiming public land.Read more