Latest Realty News

Bhubaneswar Development Authority gym plan stalled
Feb 17, 2014
BHUBANESWAR: A letter from state election commissioner Ajit Tripathy has put a question mark over the proposed gymnasium at Biju Patnaik Park here. He has asked the Bhubaneswar Development Authority (BDA) to stop the construction work and shift the project elsewhere.
Commercial rentals low in city
Feb 08, 2014
BHUBANESWAR: The commercial rents are hovering around Rs 100 per sq ft even in the posh localities like Janapath, said Sanjay Kumar Jha, Secretary of Real Estate Developers Association of Odisha (REDA). Forum Mart, BMC Bhawani Mall, Pantaloons Mall, Idco Towers, and Fortune Towers are some of the prominent commercial properties in the city.
Buildings to be made friendly for disabled
Dec 02, 2013
BHUBANESWAR: With International Day for Persons with Disabilities being observed on December 3, citizens' groups and experts have advocated barrier-free access facilities for disabled persons at public buildings like offices, shopping malls, healthcare institutions, banks, community and religious institutions in the city.
AT Group property may also be liquidated
Nov 15, 2013
BHUBANESWAR: Like Seashore case, the Commissionerate Police may also urge the State Government for liquidation of Artha Tatwa (AT) company’s properties in order to refund duped investors’ money according to the Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011, sources said.
CB proposes Govt for Seashore assets liquidation
Nov 12, 2013
BHUBANESWAR: The Economic Offences Wing (EOW) of the State Crime Branch on Monday proposed to the State Government for liquidation of the Seashore Group’s properties in order to refund duped investors’ money according to the Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011.
Builders eye the rich, bank on penthouses
Nov 12, 2013
BHUBANESWAR: At a time when the majority of builders in the city are concentrating on creation of low cost houses to overcome the sluggish market, some prominent ones are coming up with luxury penthouses with price tag of above Rs 1 crore.
Stamp duty hike move irks realtors
Nov 12, 2013
BHUBANESWAR: The state government's decision to amend the Indian Stamp Act has drawn flak from real estate developers and builders, who say it would lead to 'double taxation'.
Earlier released builder again held
Sep 24, 2013
BHUBANESWAR: The Saheed Nagar police on Monday arrested Simax Builder Private Limited managing director Nirmal Kumar Behera (42) on the charge of duping a customer of `5 lakh in fraudulent land deals.
Houses unsold, realty growth on hold
Sep 14, 2013
BHUBANESWAR: Realtors in the city have decided to put new projects on hold with stocks of unsold houses piling up all the time.
Duped investors flay govt inaction
Aug 22, 2013
BHUBANESWAR: Scores of investors, duped by several chit fund companies in Odisha, took to the streets here on Wednesday, protesting against the lackadaisical attitude of the government in refunding their imoney.
Realtor-criminal nexus under Bhubeaneswar police lens
Aug 21, 2013
BHUBANESWAR: Controversial builders seem to be running an empire of hooliganism in the city, if the murder of Manmohan Pradhan is any indication.
Depositors' interest protection bill gets Prez nod
Aug 14, 2013
BHUBANESWAR: The much awaited Odisha Protection of Interests of Depositors (in financial establishment) Bill, 2011 becomes an Act with President Pranab Mukherjee on Tuesday giving his assent to it. The Act comes into force with immediate effect, enabling the State Government to act tough against the malpractices of the fraudulent financial institutions and recover the money of the depositors.
Realtor held for duping investors
Aug 03, 2013
BHUBANESWAR: Commissionerate Police Thursday arrested realtor and film producer Ratikant Kanungo on charge of duping investors and collecting lakhs of rupees from them promis­ing land on the city outskirts.
BDA grievance cell turns a flop show
Aug 03, 2013
BHUBANESWAR: Bhubaneswar Development Authority's (BD'A) grievance cell that was started Friday, dedicated to resolve planning-wing related complaints received lukewarm re­sponse from the citizens.
Duped investors seek refund
Aug 01, 2013
BHUBANESWAR: Investors across the State duped by financial institutions staged a massive rally at the PMG Square here on Wednesday demanding recovery of their money deposited with the fraudulent companies.
Account for refunds by AT beneficiaries
Aug 01, 2013
BHUBANESWAR: The Commissionerate Police has opened a bank account where refunds made by individuals and firms who had benefited from business dealings with Artha Tatwa (AT) Group can be deposited.
HC notice to govt, RBI on Seashore plea
Aug 01, 2013
CUTTACK: Acting on the petition filed by Seashore group of companies seeking defreezing of its bank accounts, Orissa High Court Tuesday served notices on the Reserve Bank of India (RBI), state government , crime branch (CB) of the state police and others to respond in this connection.
Seashore CMD denied bail
Jul 27, 2013
BHUBANESWAR: Seashore Group CMD Prashant Kumar Dash was on Friday produced before the Nabarangapur Sub-Divisional Judicial Magistrate (SDJM) Court here for his alleged fraudulent activities and embezzlement of money through Seemanchal Multi Purpose Cooperative Ltd in the periphery of Nabarangpur.
Chit fund: Rahul Brigade demands CBI investigation
Jul 23, 2013
BHUBANESWAR: The All India Rahul Gandhi Brigade State unit on Monday staged a demonstration in front of the State Assembly and submitted a memorandum to the Governor demanding a CBI probe into the chit fund scams in the State.
HC seeks details of investors from chit fund firms
Jul 23, 2013
BHUBANESWAR: The Odisha High Court on Monday asked chit fund Company Green Ray International to provide it the details of all investors who have deposited money with the company mentioning about the amounts they have invested and the amounts they are likely to get back after maturity of their terms.
‘Rs 300-cr fund too little to help chit fund victims’
Jul 12, 2013
BHUBANESWAR: Pradesh Congress Committee President Jayadev Jena on Thursday reacted on Chief Minister Naveen Patnaik’s declaration of Rs 300 crore of corpus fund for the duped 20 lakh chit fund investors in the State.
Chargesheet against Artha Tatwa chief
Jul 11, 2013
BHUBANESWAR: Police on Wednesday filed preliminary chargesheet in a trial court here against Artha Tatwa (AT) Group CMD Pradeep Sethy and six others accusing them of embezzling public deposits worth crores of rupees. The development came a day after the state government announced Rs 300-crore corpus fund for victims of various chit fund companies.
300 cr fund for chit fund victims
Jul 11, 2013
BHUBANESWAR: Taking a cue from West Bengal, chief minister NaveenPatnaik on Tuesday announced Rs 300 crore corpus fund for victims of the multi-crore chit fund scam. "Under no circumstance will my government allow genuine investors to suffer. We are putting in place a strong legal and financial arrangement so that people do not suffer undue loss," the CM said in a statement.
Seashore Group into Diamond Trade
Jul 06, 2013
BHUBANESWAR: The Eco­nomic Offences Wing, which is investigating the financial fraud by Seashore Group, has found that the company was also into diamond busi­ness. Seashore chief Prashant Dash, who was arrested from Mumbai last month, fre­quented the Western Indian States in connection with its diamond business too. He had visited Surat apart from operating out of Mumbai.
AT Group Collected Rs 45 Cr from Balasore, says CMD
Jul 06, 2013
BALASORE: After spending a week in Balasore district jail, Artha Tatwa Group CMD Pradip Sethi and Director Manoj Patnaik were back in Jharpada jail in Bhubane­swar on Friday. They were taken on remand for three days in two phases by the Sahadevkhunta police in Balasore.

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