Ownership check must before property registration in Uttar Pradesh

Uttar Pradesh's Cabinet has approved mandatory checks of property ownership details before registration to prevent the sale of fake or disputed land. New rules will empower sub-registrars to refuse registration if ownership documents are incomplete, aiming to curb fraudulent property deals and prolonged litigation.

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Uttar Pradesh cabinet approves affordable housing policy

Uttar Pradesh's state cabinet approved a new policy for affordable housing under Pradhan Mantri Awas Yojana-Urban 2.0, offering financial aid to middle and economically weaker sections. Developers will receive exemptions, and beneficiaries get stamp duty relaxation. The policy also includes rental housing for urban poor and specific worker groups.

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Cops submit second chargesheet against Radius Estates' promoter in Yes Bank cheating case

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.

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Truhome Finance files ₹3,000-crore IPO papers

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.

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Lucky numbers and collusion: how an Indian cement cartel came unstuck

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.

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BMC approves empanelment of geotechnical experts to scrutinise foundations of high-rise buildings in Mumbai

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 structural failures.

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Centre launches ₹33,500 crore Delhi infrastructure push, including housing and metro projects

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.

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