Truhome Finance, Veegaland Developers get Sebi nod for IPO

Truhome Finance's proposed IPO comprises a fresh issue of equity shares worth Rs 1,500 crore and an offer-for-sale (OFS) aggregating to Rs 1,500 crore by promoter Mango Crest Investment. Veegaland Developers, a part of the V-Guard Group, plans to raise Rs 250 crore through an entirely fresh issue of shares. There is no OFS component in the proposed issue.

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Were officials who cleared illegal buildings ever held accountable, asks Telangana HC

The Telangana High Court questioned officials regarding approvals for illegal constructions on government land. Residents of Patelguda village had their homes demolished by HYDRAA. A later survey confirmed the lands were private patta lands. Despite this, municipal authorities are refusing building permissions. The court has directed respondents to file counters and will hear the matter again.

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UP-RERA says over 1.15 lakh units available across Uttar Pradesh

UP-RERA has advised homebuyers and investors to make property purchase decisions after verifying project details and assessing their financial capacity. The authority said more than 1.15 lakh residential and commercial units are currently available across Uttar Pradesh, and buyers should not act under pressure created by claims of stock shortage or imminent price hikes.

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Delhi home minister says buildings lacking fire safety NOC, other approvals to be sealed

Following a fatal fire in Malviya Nagar, Delhi Home Minister Ashish Sood announced that all buildings lacking required fire safety and other permissions will be sealed. An immediate city-wide enforcement drive and a crackdown on illegal hotels have been ordered. The tragedy highlighted serious violations at a B&B establishment, prompting a comprehensive inspection of similar facilities.

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Kotak Alts closes fourteenth real estate fund at nearly $1 billion

Kotak Alternate Asset Managers has closed its fourteenth real estate fund at nearly $1 billion, backed by commitments from ADIA and NPS Korea. ADIA has made an anchor commitment of over $675 million, while NPS Korea has made its first investment in Indian alternative assets through the fund.

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ED arrests Earth Infrastructures' promoters in ₹2,004-crore fraud case

Four promoters of Earth Infrastructures Ltd. were arrested by the Enforcement Directorate in a Rs 2,004-crore homebuyer fraud probe. Over 19,000 buyers and investors were allegedly defrauded as projects remained incomplete. The ED claims Rs 467 crore was siphoned off, with proceeds used to acquire assets. Investigations stem from Delhi Police FIRs and an SFIO complaint.

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Adani Properties highest bidder for MHADA’s Worli, Bandra redevelopment projects

Adani Properties has emerged as the highest bidder for MHADA’s cluster redevelopment projects at Adarsh Nagar in Worli and Bandra Reclamation, while a consortium comprising Hanura Realty, Chandak Realtors, Premsagar Infra Realty and Vantier Realty has emerged as the highest bidder for the S.V.P. Nagar project in Andheri West.

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