The Enforcement Directorate (ED) has filed a chargesheet against Gurugram-based realty firm Krrish Realtech Private Limited and its promoter, Amit Katyal, for allegedly diverting INR 205 crore of homebuyers' funds to a hotel project in Colombo, Sri Lanka. The ED's investigation, which is based on an FIR from Delhi and Gurugram Police, found that the company had collected over INR 500 crore from more than 400 customers for a project that was never completed. The diverted funds were funneled through a complex network of shell companies, highlighting a systematic fraud that has been under investigation since 2023.Read more

The Enforcement Directorate (ED) has arrested Amit Ashok Thepade, the director of Pune-based Galaxy Constructions, in a high-profile bank loan fraud case involving Canara Bank amounting to INR 117.06 crore. Thepade, who had been evading authorities for a prolonged period, was apprehended at a five-star hotel in Mumbai. The ED's investigation, which stemmed from a CBI FIR, revealed that Thepade's companies obtained credit facilities by allegedly double-mortgaging properties that had already been sold, and then siphoning off the funds for personal use.Read more

The Supreme Court has upheld the Bombay High Court's decision that annulled the Slum Redevelopment Authority's acquisition of Church Trust-owned land in Bandra, noting that a private developer's influence was apparent in the process. The court stressed that a landowner's preferential right to redevelop should not be overlooked. It criticised the authority for rejecting the Trust's proposal while entertaining the developer's, and directed that the Trust be allowed to submit its own scheme for consideration.Read more

The Gujarat government has sanctioned a grant of INR 489.95 crore for the construction of 2,055 new gram panchayat buildings under the Gram Panchayat Ghar cum Talati-Mantri Awas Yojana. The funds will be distributed according to village population, with larger villages receiving higher allocations. The initiative is aimed at ensuring all panchayats have dedicated buildings, strengthening rural governance infrastructure.Read more

The Chandigarh administration has mandated the installation of a firefighting system in the Dhanas Rehabilitation Colony, home to over 45,000 residents. Despite being constructed 13 years ago, the colony lacks the necessary fire safety infrastructure, violating the National Building Code (NBC)-2016. The Chandigarh Housing Board (CHB) has been instructed to initiate the installation promptly and report progress within a month. This decision follows concerns raised by residents and the administration's environment department regarding the colony's fire safety measures.Read more

The Bangalore Development Authority (BDA) has initiated a global tender for the Revised Master Plan 2041 (RMP-2041) to address Bengaluru's growing urban challenges. This comes after the previous RMP-2031 was shelved amid criticism over scientific and planning gaps. The new plan focuses on managing population growth, urban sprawl, traffic congestion, and sustainable development. A high-resolution 3D drone survey is underway, covering 1,240 square kilometers, to provide detailed spatial insights. The plan emphasizes transit-oriented development and better infrastructure alignment, with completion targeted by mid-2026.Read more

The Telangana Real Estate Regulatory Authority has suspended the Jai Vasavis Bliss Heights project by R Homes Infra after finding multiple violations of statutory provisions. The authority stated that the promoter misled homebuyers during pre-launch, signed agreements before securing registration, and failed to submit essential progress and audit reports. All promotional activities have been stopped, bank accounts frozen, and the developer has been instructed to respond to the interim order.Read more

The Ghaziabad Development Authority has rolled out a new monthly grievance redressal mechanism, named RERA Samadhan Diwas, to address homebuyer complaints more directly and minimise escalation to UP RERA. The forum will convene every third Thursday at the GDA office, with its first session already seeing on-the-spot resolutions and withdrawals of cases from UP RERA. This step reflects the authority's growing accountability as a township developer under RERA and its effort to handle disputes efficiently while strengthening buyer confidence.Read more

The Thane Municipal Corporation has launched a dedicated squad to curb unauthorised constructions in Diva and Mumbra, areas that have witnessed a spurt in such activity. The decision followed a high-level review, after which officials took immediate action against 227 illegal structures and registered 24 criminal cases. With the monsoon intensifying structural risks, the civic body also ordered evacuations of unsafe buildings while tasking the squad with continuous vigilance and enforcement.Read more

In separate exchange filings, Reliance Power and Reliance Infrastructure have clarified that the recent CBI action against Reliance Communications (RCom) and its former director, Anil Ambani, does not affect their business. Both companies stated that they are distinct and independent entities with no business or financial links to RCom. The clarification comes after the CBI registered a INR 2,929 crore bank fraud case and conducted searches at RCom's premises and Ambani's residence. The companies also noted that Ambani has not served on the board of Reliance Power for over 3.5 years, further reinforcing their separation from the ongoing legal issues of RCom.Read more