1 hour ago

The Reserve Bank of India has imposed a monetary penalty of INR 80,000 on Muthoot Housing Finance Company Limited for non-compliance with Fair Practice Code directions. The action followed a statutory inspection conducted by the National Housing Bank with reference to the company’s financial position as on March 31, 2025. After reviewing supervisory findings, issuing a show-cause notice, and considering the company’s response and hearing submissions, RBI confirmed that the lender failed to disclose its risk grading approach and justification for different interest rates in loan documentation, leading to regulatory action.Read more

2 hours ago

A Mumbai sessions court has granted anticipatory bail to builder Sumit Jain in a redevelopment-related fraud case linked to a project in Lalbaug. The case stems from allegations of cheating involving flat bookings made over a decade ago, where the complainant claimed non-delivery of promised units. The court noted the presence of a civil dispute element in the matter and held that custodial interrogation was not required at this stage. The order provides interim protection from arrest while the investigation continues. The case highlights ongoing legal scrutiny in redevelopment projects, where disputes over delivery timelines, agreements and financial commitments often lead to criminal complaints alongside civil proceedings.Read more

4 hours ago

The Maharashtra government has approved 18 large-scale projects with a total investment of INR 2.56 lakh crore, expected to generate over one lakh jobs. The projects span sectors such as green energy, electric vehicles, electronics, and defence manufacturing. Cleared by a cabinet sub-committee led by Chief Minister Devendra Fadnavis, the initiative focuses on expanding industrial activity across regions including Vidarbha, Marathwada, and Konkan. The move is part of the state’s continued efforts to attract investments, improve manufacturing capacity, and support balanced regional development.Read more

8 hours ago

A consumer forum in Ghaziabad has directed a group of builders to refund INR 7 lakh to a homebuyer after delays in handing over a residential unit. The order follows a complaint citing prolonged non-delivery beyond the agreed possession timeline. The forum held the developers accountable for deficiency in service, reinforcing legal protections available to homebuyers in delayed projects. The ruling adds to a series of recent decisions by consumer courts and regulatory authorities emphasising timely delivery obligations in the real estate sector. It highlights the continued use of legal recourse by buyers amid project delays and strengthens enforcement of contractual commitments by developers.Read more

9 hours ago

Residents of Mumbai’s gaothan settlements have sought a dedicated INR 300 crore development fund and classification of their homes under MHADA to address long-standing infrastructure gaps and repair needs. The Mumbai Gaothan Panchayat has raised concerns over decades of limited civic funding, highlighting that only 52 of the city’s 189 recognised gaothans are included in the Development Plan 2034. The demand includes access to institutional funding for structural repairs, improved civic infrastructure, and a fast-tracked approval mechanism. Residents argue that current heritage-linked restrictions and lack of financial support have made maintenance of ageing homes increasingly difficult, raising concerns around safety, liveability, and potential displacement.Read more

12 hours ago

The Indore district administration has demolished 12 illegally constructed houses in Khajrana, reclaiming government land valued at around INR 30 crore. The action, carried out earlier this week, covered approximately 30,000 sq ft of encroached land and forms part of an ongoing crackdown on unauthorised occupation of public land. The operation was executed under the direction of the district collector, with support from police and revenue officials to ensure smooth enforcement. Authorities indicated that similar drives will continue across the city to address land encroachments and deter illegal construction activity. The move reflects a broader administrative push to secure public land assets and strengthen regulatory enforcement in urban areas.Read more

13 hours ago

The Allahabad High Court has stayed land acquisition proceedings for multiple schemes of the Uttar Pradesh Awas Evam Vikas Parishad in Ayodhya, citing concerns over compensation disparities. The court intervened after petitions challenged the use of provisions under the 1965 Act, arguing that landowners would receive lower compensation compared to the Right to Fair Compensation and Transparency in Land Acquisition Act, 2013. A division bench directed authorities to maintain status quo and flagged the need to align benefits with more favourable legal provisions. The matter, involving 11 petitions, highlights ongoing legal scrutiny of land acquisition frameworks and their implications for housing schemes and landowners in Uttar Pradesh.Read more

14 hours ago

Housing projects built under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) in Vadodara are facing structural and maintenance-related deterioration, with residents reporting worsening living conditions across multiple sites. Constructed between the mid-2000s and early 2010s for economically weaker sections, over 21,000 units have been impacted by issues such as seepage, faulty drainage, and falling plaster. Concerns have intensified following incidents of structural damage, including one fatality linked to falling ceiling material. While the Vadodara Municipal Corporation (VMC) maintains that core structures remain safe, residents and activists have questioned construction quality and upkeep. The situation highlights ongoing challenges in the long-term sustainability and maintenance of public housing projects across Indian cities.Read more

16 hours ago

Telangana has completed its first land registration incorporating a verified survey map under the Bhu Bharati digital land management system, marking a shift towards map-linked property transactions. The milestone transaction took place in Khammam district as part of a pilot launched earlier this month across five mandals. The reform mandates the inclusion of survey maps and unique land identification numbers for all registrations, aimed at improving accuracy, transparency, and dispute resolution. By integrating land records, surveys, and registration services on a single platform, the state government is attempting to address long-standing issues associated with legacy systems. The initiative is expected to be scaled statewide following the pilot phase, with implications for land governance, real estate transactions, and investor confidence.Read more

Delhi News Desk

18 hours ago

Residents in 31 villages in Delhi’s Lal Dora areas are set to receive ownership rights for residential land, enabling formal property recognition and access to institutional finance. The move, highlighted by a South Delhi MP, follows implementation of the SVAMITVA scheme with special approval despite the absence of a panchayat system in the capital. Drone-based mapping of these villages has been completed, and property cards are expected to be issued. The development is aimed at resolving long-standing land title ambiguities in village habitation zones and improving transaction transparency and credit access for residents.Read more