Union Bank of India, Bank of Baroda and Yes Bank have issued e-auction sale notices for the sale of immovable assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The online auction will be conducted on a dedicated platform, where interested bidders must register themselves beforehand to qualify. Properties sold at these auctions will be offered on a an "as is what is," "whatever there is," and "without recourse basis". Therefore, the rules of caveat emptor apply. Interested bidders are required to register on the designated e-auction platform, and meet the specific eligibility criteria to participate.Read more

In an astonishing development, Hyderabad's luxury housing market has witnessed a remarkable 14-fold increase in sales in the first half of 2023, according to CBRE South Asia's latest report. The surge, driven by enhanced amenities, spacious living preferences, and rising NRI investments, cements Hyderabad, Delhi-NCR, and Mumbai as robust luxury housing markets, accounting for nearly 90% of sales across India's top seven cities. The trend reflects a shifting preference towards opulent living, signaling a thriving demand for luxury properties in India and propelling the real estate sector on an upward trajectory.Read more

Advanced Micro Devices (AMD) is set to establish the largest research and development design center in India, in partnership with the Ministry of Electronics and Information Technology. The $400 million investment aims to create 3,000 engineering roles and provide state-of-the-art facilities for innovation. This move strengthens India's position in the semiconductor industry and aligns with the government's vision to establish the country as a global hub for semiconductor manufacturing and technology development. The expansion of AMD in India is expected to drive innovation and foster technological advancements in various sectors that rely on chips.Read more

Mumbai's Pali Hill, a prestigious locality in Bandra, has become a celebrity hotspot, attracting Bollywood stars and notable personalities. The area's serene ambiance, lush green surroundings, and strategic positioning make it an ideal residential destination. Recently, Bollywood film producer and director Dinesh Vijan purchased a duplex apartment in Pali Hill for approximately Rs 100 crore, making it one of the most expensive residential property deals in the country. The building the flat is located in is being developed by Rustomjee and is scheduled to be completed in January 2026.Read more

The Punjab State Electricity Regulatory Commission (PSERC) has taken proactive measures to address consumer and Resident Welfare Associations (RWAs) concerns in Punjab. By implementing revised tariff regulations, the commission aims to make electricity more affordable for households and RWAs, while promoting sustainable electricity generation. In addition, the PSERC has introduced incentives for RWAs, encouraging the adoption of solar power and ensuring timely maintenance of essential amenities. These actions demonstrate the government's commitment to inclusive growth and sustainable practices, fostering a resilient power sector and improving the overall quality of life for residents.Read more

Lodha, India's leading real estate developer, launches the "WE STOP AT NOTHING" campaign to position itself as a pioneer in luxurious and prestigious projects. The campaign showcases Lodha's commitment to providing spacious homes with top-notch amenities, aiming to cater to people seeking a life of luxury and prestige. The center piece of the campaign is a film featuring stories of satisfied residents living in Lodha homes, emphasizing the brand's association with luxury developments, revolutionary designs, and the best facilities. The campaign highlights Lodha's global leadership in renowned luxurious projects and aims to instil pride among homeowners and potential buyers.Read more

The Walled City of Jaipur faces the problem of illegal construction waste dumping in its green belt, designated for a smart city project. Residents of ward 9 complained about the lack of monitoring and on-ground inspection, leading to unauthorized waste disposal. In response, authorities have been instructed to identify culprits and impose penalties. Additionally, five illegal buildings were sealed in the Shastri Nagar area to curb unauthorized commercial activities. The situation emphasizes the need for responsible urban planning, effective waste management, and strict enforcement to preserve the city's heritage and ensure sustainable development.Read more

In response to the fire incident that occurred on June 15 at a coaching centre in Mukherjee Nagar, North Delhi, leaving 61 students injured, the Municipal Corporation of Delhi (MCD) has taken decisive action and issued notices to 897 coaching centres across Delhi for violating building rules and regulations. The move aims to prevent similar incidents and enhance safety standards in educational establishments. The coaching centres have been given a specified time frame to address the violations and comply with necessary safety guidelines, failing which they may face penalties or potential closures.Read more

Residents of a 40-unit apartment complex in Sholinganallur, constructed by the Tamil Nadu Housing Board (TNHB), are facing numerous issues, including the absence of basic facilities, hazardous living conditions, and delayed completion. The complex remains largely unoccupied, with only four units inhabited, as essential amenities such as car parking lot paver blocks, metrowater and sewage connections, and security guards are missing. Poor construction quality has led to leaky drainage pipes, seepage during the monsoon, and even snake sightings. Residents express frustration with the TNHB's lack of action, while the authorities promise to address the issues and inspect the complex promptly.Read more

A tragic incident in Junagadh city's Datar Road resulted in the collapse of a three-storey building, claiming the lives of an autorickshaw driver and his two sons, along with another individual. The rescue operation by NDRF and fire brigade faced challenges due to the recent flash floods that strained the city's infrastructure. Chief Minister Bhupendra Patel announced compensation for the victims' families, but the incident emphasizes the importance of building safety regulations and compliance with evacuation orders.Read more