Builder Sanjay Chhabria, promoter of Radius Estates, faces a chargesheet for allegedly cheating Yes Bank of Rs 30.39 crore. Funds from a Rs 50-crore overdraft facility for a Mhada redevelopment project were diverted to related entities to repay unsecured loans and interest, violating loan conditions. Source link...
Truhome Finance, backed by Warburg Pincus, is launching an IPO to raise Rs 3,000 crore. The housing finance company plans to use the funds to strengthen its capital base for future lending and meet regulatory requirements. This move signals significant growth plans for the affordable housing sector. The IPO includes a fresh issue and an offer for sale. Source link...
India's largest oil explorer, ONGC, uncovered a decade-long cement price-fixing cartel involving Dalmia Bharat, India Cements, and Shree Digvijay. The companies allegedly colluded on bids, even citing numerology for identical pricing, and attempted to oust foreign competitors. A five-year probe by the CCI found substantial evidence of these anti-competitive practices. Source link...
Mumbai's municipal body has mandated independent geotechnical expert scrutiny for high-rise building foundations, a first in Asia. This new norm requires mandatory clearance from the High-Rise Committee for buildings over 180m, ensuring stringent safety standards for deep excavations and complex foundation systems. The move aims to mitigate risks associated with dense urban construction and prevent...
Prime minister Narendra Modi launched development projects valued at approximately ₹33,500 crore in Delhi. These initiatives encompass metro expansion, government housing redevelopment, and urban infrastructure enhancements. Newly constructed government flats and office spaces were inaugurated. Foundation stones were laid for more GPRA flats and commercial office towers. Source link...
The Enforcement Directorate has recently frozen assets worth upwards of Rs 200 crore belonging to TDI Infrastructure Limited amidst allegations of money laundering. This investigation stems from charges of deception against homebuyers, with reports highlighting the company's long-standing failure to provide the flats and units they were promised. Source link...
Maharashtra government may revise ready reckoner (RR) rates by over 5% from April due to mounting fiscal pressure and a rising debt burden. Officials indicated a revision is imminent, with the final decision pending on funding needs for infrastructure and welfare schemes. Despite developers urging against a hike, citing market stability, the state faces a significant revenue deficit. Source link...
The Supreme Court has directed the CBI to conduct an inquiry into issues related to the ‘The Primus’ housing project in New Gurgaon, with findings to be submitted by April 25, 2026. Source link...
Embassy Office Parks REIT has bought a Bengaluru office property for ₹852 crore. The deal involved acquiring Eleanor Realty Holdings India, which owns the Pinehurst building. This grade-A office space is fully leased to a global investment firm. The transaction was completed at a discount to independent valuations. PwC and Trilegal provided advisory services for the deal. Source link...
Godrej Properties has secured land in Gurugram and Kolkata for new residential projects. The Gurugram acquisition spans 11.36 acres and is projected to generate over ₹4,500 crore in revenue. In Kolkata, a five-acre parcel off EM Bypass is set for premium residential development with an estimated revenue potential of ₹1,650 crore. Source link...