• About us
  • Team
  • Privacy Policy
  • Contact
Wednesday, October 14, 2026
  • Login
No Result
View All Result
World's first weekly chronicle of development news
  • Blitz Highlights
    • Special
    • Spotlight
    • Insight
    • Entertainment
    • Sports
  • Opinion
  • Legal
  • Perspective
  • Nation
    • East
    • West
    • North
    • South
  • Business & Economy
  • World
  • Hindi Edition
  • International Editions
    • Dubai
    • Tanzania
    • United Kingdom
    • USA
  • Blitz India Business
  • Blitz Highlights
    • Special
    • Spotlight
    • Insight
    • Entertainment
    • Sports
  • Opinion
  • Legal
  • Perspective
  • Nation
    • East
    • West
    • North
    • South
  • Business & Economy
  • World
  • Hindi Edition
  • International Editions
    • Dubai
    • Tanzania
    • United Kingdom
    • USA
  • Blitz India Business
No Result
View All Result
World's first weekly chronicle of development news
No Result
View All Result

Whiff of a MHADA scam in housing revamp project

by Blitz India Media
May 2, 2024
in Maharashtra
0
MHADA
Team Blitz India

Maharashtra Housing and Area Development Authority (MHADA) at Kalanagar, Bandra East, is allegedly siding with scamtainted DB Realty Group for a redevelopment project of a low income group (LIG) colony in Kalanagar, next to the Bandra Kurla Complex (BKC).

As per a report by the Free Press Journal, the 750-odd residents of 18 buildings in the Gandhi Nagar LIG housing colony, just 100 mt from MHADA headquarters, are allegedly being forced to accept the Bengaluru-based Prestige Group being represented by DB Realty for the redevelopment of tenements spread over 8.5 acres. The colony is at a prime location with easy access to the Western Express Highway and the airport.

DB Realty is led by Shahid Balwa, who was arrested years ago in the 2G scam. The unrelated presence of Balwa and Nabeel Patel, DB Group’s director, at the site makes the plot murkier. Balwa and Patel did not respond to calls, mails and messages for comments.

The documents and video footage accessed by Free Press Journal show MHADA officials coercing residents to sign consent forms and complete the 79 A procedure to appoint the Prestige Group for redevelopment.

Another irregularity by MHADA top brass includes accepting a mere Rs 25 crore bank guarantee given by the Prestige Group for the Rs 3,300 crore redevelopment project with windfall FSI bonanza to be used by the developer.

Related Posts

Bank of Maharashtra
Maharashtra

BoM leads in business growth

May 23, 2024
mangrove
Maharashtra

Committee to inspect mangrove next week

May 23, 2024
gst
Maharashtra

Maharashtra biggest contributor to GST collection at 19.6pc

May 23, 2024
Intelligent traffic
Maharashtra

Intelligent traffic management soon

May 23, 2024
Brihanmumbai Electric Supply
Maharashtra

BEST completes 150 years of service

May 23, 2024
water shortage
Maharashtra

Action plan to tackle water shortage

August 8, 2024
Load More
Next Post
TISS Chancellor

Former UGC head is TISS Chancellor

Recent News

Rajnath Singh
News

India offers ASEAN joint manufacture of defence systems

by Blitz India Media
October 14, 2026
0

NEW DELHI, 14 October— India is ready to explore building patrol vessels, radars, air-defence systems, helicopters and drones together with...

Read moreDetails
India Canada diplomatic ties

India News: Canada Ties, Ports, Minerals and Stubble Fires

October 14, 2026
Asian Champions Trophy 2026

Pathak returns as India names squad for Asian Champions Trophy

October 13, 2026
Electronics production grows seven-fold : MeitY

New Delhi, 13 October : India’s fintech sector raised $2.2 billion in the first nine months of 2026 (January 1, 2026–September 30, 2026), up 14 per cent from $1.9 billion in the same period a year earlier, a report said. The report from data intelligence platform Tracxn Technologies Limited said funding rounds dipped from 260 to 153, adding that the funding was concentrated in a smaller number of large late‑stage rounds, with five mega‑rounds of $100 million or more accounting for $1.1 billion or 48 per cent of total capital. The report said in the first nine months of 2026, digital lending and payments topped the category rankings, while Bengaluru accounts for over three-fifths of all capital raised. On the exit side, IPOs saw a 50 per cent uptick while overall acquisitions slowed. As many as 30 companies raised their first funding round, down 49 per cent from 59 in the previous year. Series A and later rounds totalled 77, down 31 per cent from 112. Late-stage funding (Series C+, PE, and pre-IPO) led the mix, rising 95 per cent to $1.5 billion in the first nine months of 2026 — up from $751 million during the same period in the previous year. This capital surge pushed late-stage investments to 67 per cent of total market funding, the report noted. Earlier stages experienced contractions in capital and deal counts. Early-stage funding fell 33 per cent to $668 million across 52 rounds, compared to $1 billion across 82 rounds in nine months of 2025. Seed funding fell 57 per cent to $73.8 million across 76 rounds, down from $173 million across 148 rounds. New unicorns crossed the billion-dollar threshold in an average of 7.1 years after their Series A funding. Moreover, the industry saw 3 IPOs in nine months of 2026, up 50 per cent from 2 in the previous year, alongside 11 acquisitions, down 45 per cent from 20.

October 13, 2026
Indian stock market

IBM and MeitY Startup Hub partner to support India’s deep-tech startups with AI, cloud, quantum computing and mentorship.

October 13, 2026

Blitz Highlights

  • Special
  • Spotlight
  • Insight
  • Entertainment
  • Health

International Editions

  • US (New York)
  • UK (London)
  • Middle East (Dubai)
  • Tanzania (Africa)

Nation

  • East
  • West
  • South
  • North
  • Hindi Edition

E-paper

  • India
  • Hindi E-paper
  • Dubai E-Paper
  • USA E-Paper
  • UK-Epaper
  • Tanzania E-paper

Useful Links

  • About us
  • Team
  • Privacy Policy
  • Contact

©2024 Blitz India Media -Building A New Nation

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

    No Result
    View All Result
    • Blitz Highlights
      • Special
      • Spotlight
      • Insight
      • Entertainment
      • Sports
    • Opinion
    • Legal
    • Perspective
    • Nation
      • East
      • West
      • North
      • South
    • Business & Economy
    • World
    • Hindi Edition
    • International Editions
      • Dubai
      • Tanzania
      • United Kingdom
      • USA
    • Blitz India Business

    ©2024 Blitz India Media -Building A New Nation