Latest news with #UDR
India Today
2 days ago
- India Today
Human skull and bones found in Bengaluru apartment pit, police launch probe
Human bones and a skull were discovered inside a percolation pit, from where the rainwater is channeled to the ground, at an apartment complex in the Begur area of Bengaluru, police remains were found on June 16 during cleaning work at MN Credence Flora Apartments in New Mico to the Begur police, the skeletal parts were spotted by workers hired by the Residents' Welfare Association (RWA) to clean the pit. The RWA president subsequently filed a complaint, based on which an Unnatural Death Report (UDR) was "We have sent them for forensic analysis. It would take a week before we could get any other details," said an official from the Begur police origin and identity of the remains are yet to be established. Police are awaiting the forensic report to determine whether there was any foul play week, a 36-year-old woman named Harini was allegedly murdered by her lover in a hotel room in Poorna Prajna Layout. Her body was found two days after the accused, Yashas, a 25-year-old techie and also a resident of Kengeri like the victim, is suspected to have killed her on Friday night. Police say the two had known each other for about a year, but over the past two months, Harini had begun distancing herself from appears there was a strain in their relationship. We're looking into all aspects,' said DCP South, Lokesh Jagalasar. IN THIS STORY#Bengaluru
Indian Express
06-06-2025
- Sport
- Indian Express
From FIRs and probes to arrests: what happened in the 30 hours after the tragedy
Bengaluru, which was all set to celebrate Royal Challengers Bangalore (RCB)'s maiden IPL title win, instead witnessed a tragedy after 11 young people died in a stampede outside the M Chinnaswamy Stadium. In just a few minutes, the jubilation of RCB fans turned into a disaster. Following the stampede, the Karnataka Government and the city police faced the wrath of the families of the young victims and the public for their lack of preparation, poor planning, and last-minute changes. The Chinnaswamy stadium stampede At around 4 pm Wednesday, 11 people died and 56 were injured in the stampede at the M Chinnaswamy cricket stadium. Soon after, the RCB celebrations wound up. RCB cricketer Virat Kohli shared the management's statement on Instagram, and wrote, 'At a loss for words. Absolutely gutted.' Karnataka Chief Minister Siddaramaiah and several officials visited Bowring and Lady Curzon Hospitals, where the victims were taken, and spoke to their families. BJP leaders, including state unit chief B Y Vijayendra, also visited the hospitals. On Wednesday night, Siddaramaiah announced the death of 11 people, and Rs 10 lakh compensation to each deceased family, as he assured medical support to those who were injured. The state government appointed G Jagadeesha, Deputy Commissioner, Bengaluru Urban district, to conduct a magisterial inquiry into the lapses and submit a report within 15 days. Also Read | Bengaluru stampede: Son of pani puri vendor, new joinee at tech firm, 14-year-old school girl among 11 killed Later in the night, Siddaramaiah also met Karnataka State Cricket Association (KSCA) officials at his residence for a closed-door meeting. Government and court actions By Thursday morning, the bodies of the victims were handed over to the families after post-mortem examinations. Deputy Chief Minister of Karnataka D K Shivakumar met the families of the victims. Deputy Commissioner Jagadeesha inspected the Chinnaswamy cricket stadium, and said notices will be issued to all the parties responsible, including Bengaluru city police commissioner and KSCA. Karnataka Home Minister G Parameshwara also visited the Chinnaswamy cricket stadium, and later held a meeting with officials. The police registered 11 Unnatural Death Reports (UDR) but not FIRs. Later, he said that the Karnataka Government would formulate a new Standard Operating Procedure (SOP) for mega events, meetings and celebrations aimed at preventing any untoward incidents. The Karnataka High Court Thursday took suo motu cognisance of the stampede outside the Chinnaswamy stadium. The court heard submissions by Advocate General Shashikiran Shetty on the steps taken by the government, and details of the incident, as well as, submissions on the issue from other lawyers. Also Read | 'Ready to give Rs 50 lakh. Will they bring back my son?': Day after Bengaluru stampede, victims' kin slam government A Division Bench, including the acting Chief Justice, ordered that a a status report — to ascertain the reasons behind the Chinnaswamy Stadium stampede, and whether it could have been prevented, and remedial measures to be taken to prevent in the future — to be submitted by the next hearing of the matter next Tuesday. The court also directed the Registry to register the matter as a suo motu writ petition. RCB compensation, FIR and judicial probe RCB announced Rs 10 lakh compensation to the families of those killed, and the establishment of the RCB Cares fund to support those injured in the stampede. 'The unfortunate incident in Bengaluru yesterday has caused a lot of anguish and pain to the RCB family. As a mark of respect and a gesture of solidarity, RCB has announced a financial support of INR 10 lakh to each of the eleven families of the deceased. In addition, a fund called RCB Cares is also being created to support fans injured in this tragic incident. Our fans will always remain at the heart of everything that we do. We remain united in grief,' it said in a statement. The police registered an FIR against RCB, DNA Entertainment Private Limited, and KSCA administration under sections 105 (culpable homicide), 115(2) (voluntarily causing hurt), 118(1) (voluntarily causing hurt using dangerous weapons), 118 (2) (voluntarily causing grievous hurt by dangerous weapons or means) read with 3(5) (joint liability), 190 (unlawful assembly), 132 (assault or criminal force against a public servant to deter them from discharging their duty.), 125 (a) (act endangering life or personal safety of others), and 125 (b) (individual's act endangers the life or personal safety of others, resulting in hurt) of the Bharatiya Nyaya Sanhita (BNS). The FIR also noted that the permission to hold the celebration was denied by the police. After a Cabinet attended by his deputy Shivakumar, and other ministers, Siddaramaiah announced a judicial probe under Justice Michael D'Cunha to investigate the lapses which led to the stampede. Siddaramaiah also announced the suspension of city police commissioner B Dayananda, Vikash Kumar Vikash, Additional Commissioner of Police (West); Shekhar H Tekkannavar, Deputy Commissioner of Police (Central); C Balakrishna, ACP (Cubbon Park Sub-Division), and Inspector Girish AK. The state government appointed senior IPS officer Seemanth Kumar Singh as the new Bengaluru city police commissioner at around 10.30 pm on Thursday. On Friday morning, the Bengaluru police arrested Nikhil Sosale of RCB management and Sunil Mathew of the event management company DNA at the Kempegowda International Airport. The police said they have taken two more people into custody over their involvement in the case.
Business Recorder
30-05-2025
- Business
- Business Recorder
CJP for timely and effective utilisation of funds released to HCs
ISLAMABAD: Chief Justice of Pakistan (CJP) underscored the need for timely and effective utilisation of the funds released to respective High Courts. CJP Yahya Afridi, who is also the chairman Law and Justice Commission of Pakistan (LJCP), on Thursday, chaired 19th meeting of the Governing Body, Access to Justice Development Fund (AJDF) in the Conference Room of the Supreme Court of Pakistan. The CJs of all High Courts, secretary Ministry of Law and Justice, additional Secretary Finance Division and Secretary Law and Justice Commission of Pakistan attended the meeting. Justice Yahya appreciated the role of funds in capacity building and infrastructural development of the district judiciary throughout Pakistan. The Governing Body approved the suggestion floated by the High Courts for utilisation of the funds under Underdeveloped Regions (UDR) window exclusively for solarisation of courts and establishment of e-libraries for one year in the underdeveloped districts of the country. In addition, the projects of Lahore High Court for provision of missing facilities to female judicial officers and litigants in district courts were also approved. The apex body also approved mechanism for smooth and timely completion of projects funded from AJDF. The Governing Body approved the recommendations of the Technical Evaluation Committee, AJDF regarding projects undertaken through Legal Empowerment, Judicial and Legal Research and Legal Innovation Windows for timely completion. After deliberations, the apex body extended the purview of Free Legal Aid Committees to the High Courts by enhancing the lawyers' professional fee along with increase in funding limit to these Committees. Annual accounts and funds allocation for FY 2023-24 and budget for FY 2025-26 were also approved. Earlier, Syeda Tanzeela Sabahat, Secretary LJCP gave a brief overview of AJDF, its mandate and overall performance with regard to funds released under various AJDF windows specifically for infrastructure development and projects executed in Underdeveloped Regions to bring them at par with other areas of the country. She also updated about the provision of free legal aid to deserving litigants under District Legal Empowerment Committees (DLECs), provision of litigant-oriented conveniences and amenities, projects completed and trainings of justice sector stakeholders through Judicial Academies. Meanwhile, the CJP also presided over the 44th meeting of LJCP. He apprised the participants of a significant shift in the composition of the LJCP. He emphasised the need for regular meetings, wider publicity of the LJCP's mandate to solicit law reform proposals, and augmentation of research capabilities by engaging research associate alongside the existing team of researchers. Copyright Business Recorder, 2025
Yahoo
16-05-2025
- Business
- Yahoo
UDR boosts retention in Q1
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. UDR's decision to focus on keeping heads in beds in the first quarter seemed to pay off. The Highlands Ranch, Colorado-based REIT posted a 97.2% occupancy rate, 0.2% higher than its 2024 Q1 average and 40 basis points above Q4 2024. 'This strategic decision to build occupancy during the seasonally slower leasing period helped to drive revenue and NOI outperformance to start the year, and positions us well as we enter our traditional leasing season,' Chief Operating Officer Mike Lacy said on UDR's Q1 earnings call earlier this month. UDR's occupancy beat JPMorganChase 96.7% estimate, but its blended lease spreads of 0.9% fell below the global financial services firm's 1.3% projection. 'The better top-line performance was mainly driven by better occupancy, perhaps at a small cost to spreads,' said Anthony Paolone, executive director at JPMorgan, in a research note shared with Multifamily Dive. 'That said, the company noted that its business continues to accelerate with better new lease spreads and renewal spreads in the mid-4s.' In 2024, U.S. multifamily completions hit a 50-year high, but starts are declining. 'A future supply pipeline that is below historical averages bodes well for rent growth in the years ahead,' UDR CEO Tom Toomey said on the call. As supply abates and seasonal trends kick in, UDR expects blended lease growth to continue improving. Lacy projects it to be toward the high end of the 1.4% to 1.8% range by the end of the first half of the year. 'We feel confident in the trajectory of rental rate growth as renewal rate growth has held steady in the mid-4% range and new lease rate growth has improved sequentially since the start of the year,' Lacy said. UDR's traffic is on pace with historical norms at this time of year, and its 30-day availability is approximately 4%, which should keep occupancy in the mid- to high-96% range for the rest of 2025, according to Lacy. In addition, April was the 24th consecutive month the REIT's year-over-year turnover improved. Category Q1 YOY Change Rental income $405 million 2.6% Net operating income $276.4 million 2.8% Operating expenses $128.6 million 2.3% FFO per diluted share $0.58 -3% Rent per unit $3,117 2.6% Occupancy rate 97.2% 0.2% SOURCE: UDR UDR's YOY same-store expense growth of 2.3% in Q1 beat its expectations. 'These positive results were driven by favorable real estate taxes, insurance savings and constrained repair and maintenance expenses due to our improved resident retention,' Lacy said. Despite those solid trends, UDR didn't change its full-year guidance. 'We feel good about 2025 thus far, but we have only completed the first four months of the year,' Toomey said. 'Accordingly, and [as] is customary for UDR at this time of year, we have reaffirmed our full-year 2025 guidance, and we'll reassess as we progress through peak leasing season.' The East Coast, which has 40% of the REIT's NOI, was UDR's strongest region in Q1. The region's occupancy sat at 97.5%, its blended lease rate growth was 2.5% and its same-store revenue growth was approximately 4.5%, which was slightly above the firm's full-year expectation for the region. Despite concerns about federal funding cuts, Washington, D.C., ranked as its best-performing market in the region with 97.7% occupancy and 3.5% YOY blended rent increases that trended to 4% in April. 'DC is one that's been strong to start the year — one that we're watching very closely,' Lacy said. 'We will pivot as necessary, as we kind of go through the year like we do with all of our properties in all of our markets.' On the West Coast, comprising roughly 35% of UDR's NOI, the REIT posted 97.2% occupancy, a blended lease rate growth of nearly 3% and same-store revenue growth of almost 3%. 'We continue to see positive momentum across Seattle and the San Francisco Bay Area due to return-to-office mandates, increased office leasing activity and quality-of-life improvements,' Lacy said. In the Sun Belt, occupancy was 97.1%, blended lease rate growth was negative 2.5% and YOY same-store revenue growth was barely positive. 'Among our Sun Belt markets, Tampa and Orlando are performing the best,' Lacy said. Click here to sign up to receive multifamily and apartment news like this article in your inbox every weekday.
Yahoo
13-05-2025
- Business
- Yahoo
UDR price target raised to $51 from $49 at Scotiabank
Scotiabank raised the firm's price target on UDR (UDR) to $51 from $49 and keeps a Sector Perform rating on the shares. The firm is adjusting its estimates on U.S. Real Estate & REITs in its coverage following Q1 results, the analyst tells investors. Quarterly results contained some negative surprises, but generally played out as expected, with most companies maintaining FY25 guidance, the firm notes. Real estate fundamentals tend to lag, so many are looking to see the potential impact of the slowing economy on H2 2025 results, the firm adds. Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on UDR: Disclaimer & DisclosureReport an Issue UDR price target raised to $51 from $48 at Barclays UDR Announces New Investor Information Release UDR price target lowered to $46 from $50 at BofA UDR Reports Strong Q1 2025 Results and Reaffirms Guidance UDR's Earnings Call: Strong Start to 2025 Amid Challenges
