ACB probes 2,600 illegal colonies in Haryana

Haryana's Vigilance Bureau is nearing the end of a major probe into approximately 2,600 illegal colonies. Officials from urban local bodies, town planning, and revenue departments face potential action for alleged collusion with developers. The investigation, mandated by the Punjab and Haryana High Court, aims to identify complicit government employees and could lead to large-scale demolitions.

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Godrej Properties' net profit rises 32.49% in FY26

Godrej Properties announced a significant 32.49 percent jump in its net profit for the financial year 2025-26. The company's profit after tax reached ₹1,840.66 crore. Total income also saw a healthy increase of 20.72 percent. Strong business development additions and record operating cash flow are highlighted. The company plans further growth in the upcoming fiscal year.

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The hidden development boom in slum skyscrapers of Mumbai

Mumbai's slums are growing upwards, with shanties transforming into illegal multi-storey structures that defy height restrictions. This unchecked vertical expansion places an immense strain on the city's aging water, sewage, and sanitation systems, leading to potential infrastructure collapse and water shortages. Despite official awareness and promises of action, enforcement remains a challenge.

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NCLT approves Mantra Properties buyout of Mulund project

The company entered corporate insolvency resolution process (CIRP) in July 2023 on a plea by Beacon Trusteeship Ltd. It has two secured creditors-Beacon Trusteeship with Rs 902 crore and 60.54% committee of creditors share, and Assets Care and Reconstruction Enterprise Ltd with Rs 589 crore and a 39.46% share.

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Home interior startups lean on AI to shave costs, chase profits

India's home interior sector is turning to AI to combat high customer acquisition costs and operational expenses. Companies like Homelane and Livspace are leveraging AI to boost designer productivity and streamline operations, aiming for profitability amidst stiff competition from the unorganized sector.

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Builders urge Gujarat RERA to extend project deadlines by six months

Credai Ahmedabad has requested a six-month extension for housing projects from GujRERA, citing rising construction costs and supply disruptions due to the West Asia conflict. Developers are facing a 10-20% increase in project expenses and material shortages, impacting their ability to meet deadlines. The association seeks relief under force majeure provisions, similar to the Covid-19 period.

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Government replaces building code with a new standard

Government has replaced the National Building Code with National Building Construction Standards. These new standards are now voluntary guidelines. A significant change is in fire and life safety rules. Previously mandatory, these provisions are now advisory. The height threshold for these rules has also increased. This shift aims for more flexibility and innovation in construction.

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