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.
Builder held for land fraud
Aug 11, 2013
BHUBANESWAR: Simax Builders Pvt Ltd managing director Nirmal Kumar Behera arrested by the commissionerate police here on saturday in connection with land fraud. he was forwarded to court, the police said.
Pyari for CBI probe into chit fund scam
Aug 05, 2013
BHUBANESWAR: Rajya Sabha member and president of Odisha Jana Morcha Pyari Mohan Mohapatra on Saturday reiterated his demand for a CBI probe into the multi-crore chit fund scam.
Chit fund scam: Justice Patra to hold prelim hearing from Sept 6
Aug 03, 2013
BHUBANESWAR/CUTTACK: RK Patra, retired Chief Justice of Sikkim High Court and former Chairman of Odisha Human Rights Commisssion, probing the multi-crore chit fund scam in the state will start hear­ing of the case from September 6.
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.
‘Sachin has failed to handle chit fund scam’
Jul 20, 2013
BHUBANESWAR: Being the Union Minister of Corporate Affairs, Sachin Pilot has failed in his responsibility to regulate and monitor the chit companies as most of them had obtained registration from the Ministry of Corporate Affairs. It was his responsibility to save the investors’ money,” alleged State BJP spokesperson Sajjan Sharma on Friday.
‘Chit fund: Centre to cooperate if State wants CBI probe’
Jul 20, 2013
BHUBANESWAR: Union Corporate Affairs Minister Sachin Pilot on Friday said if the Odisha Government requests for a CBI inquiry into the chit fund scams in the State, the Union Government would be ready to help.

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