Category: Latest Stories

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Latest StoriesResidential

Gurugram civic body has 5,000+ pending property ID requests

GURUGRAM: There are currently 5,390 pending property ID objections and applications with the Municipal Corporation of Gurugram (MCG). Of these, 51% (2,740 cases) remain unresolved at the civic level, leaving many property owners in limbo regarding corrections and information about their property tax assessments. Additionally, 1,764 objections (32.7%) concerning existing property IDs have been returned to residents for further documents or clarifications, and thus remain pending. The issue also affects new property ID requests. Out of 886 pending applications, 585 are awaiting action from MCG, while 301 have been returned to applicants for more information. Homeowners are left waiting for…

Latest StoriesRegulatory

ITAT: Redevelopment Deal Isn’t Taxable as Property Receipt

Representative image MUMBAI: The mere execution and registration of a redevelopment agreement does not constitute the receipt of immovable property, and thus, cannot trigger taxation under the anti-abuse clause of the Income Tax Act, according to a ruling by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT). This decision regarding tax implications for redevelopment transactions comes amidst a significant surge in redevelopment projects in Mumbai. The tribunal, consisting of judicial member Siddhartha Nautiyal and accountant member Vikram Singh Yadav, ruled last week in favor of taxpayer Manoj Devshichhadva, who contested an addition of ₹1.38 crore labeled as “income…

Latest StoriesResidential

John Abraham Acquires 100-Year-Old Bandra Bungalow for ₹84 Crore

MUMBAI: Actor John Abraham, a notable figure in Mumbai’s real estate scene, has acquired a bungalow in Bandra West for approximately Rs 84 crore. This 1926-built bungalow, owned by the DeVitre Parsi family, is located on the serene St Martin Road, connecting Bandra’s iconic Turner Road and the lively Hill Road. Addressed simply as 20, St Martin Road, the property includes four bedrooms, a spacious hall, a garden with fruit trees, and an outhouse. When asked about redevelopment plans, a source familiar with the deal stated, “He has no such intentions. He simply fell in love with the property.” Fredun…

IndustryLatest Stories

Delhi to issue smart property cards in Lal Dora areas soon: CM

Representative AI image NEW DELHI: The Delhi government is surveying Lal Dora areas (village Abadi land) to create digital records, with plans to issue smart property cards to owners, addressing a longstanding issue, as stated by Chief Minister Rekha Gupta on Tuesday. Gupta noted that 48 villages are included in the SWAMITVA scheme, established through an agreement with the Survey of India. Surveys in 30 of these villages have been finalized, and their respective property cards have been developed. The government will provide SVAMITVA PVC property cards as per UIDAI standards. These cards will include data such as the Property…

IndustryLatest Stories

Haryana Reinstates Ban on Stilt-Plus-Four Building Approvals

GURUGRAM: The Haryana government has once again halted approvals for stilt-plus-four (S+4) residential buildings statewide, following proceedings at the Punjab and Haryana High Court on Wednesday. The Department of Town and Country Planning (DTCP) issued directives on Wednesday evening instructing all relevant authorities to cease granting new approvals for S+4 buildings until further notice. An official communication from the DTCP director indicated that the decision was made due to the pending finalization of an online building plan approval framework and other administrative mechanisms for these types of constructions. Consequently, all new approvals are on hold. The order mandates that concerned…

CommercialLatest Stories

KFin Technologies Leases 2.42 Lakh Sq Ft in Kokapet, Hyderabad

Representative AI image KFin Technologies, a leading registrar and transfer agent (RTA) in India, has secured over 2.42 lakh sq ft of office space in Kokapet, Hyderabad, through a long-term lease totaling nearly Rs 283 crore. The company has finalized five lease agreements with Rajapushpa Realty LLP for this space at Rajapushpa West Avenue, commencing August 1 and spanning 15 years. The total chargeable area amounts to 2,42,742 sq ft across the sixth, 23rd, 24th, and 25th floors. The monthly rent is set at approximately Rs 1.09 crore, equating to a starting rate of Rs 45 per sq ft. These…

InfrastructureLatest Stories

₹31,000 Crore Approved for Urban Challenge Fund: MoHUA

NEW DELHI: The Urban Challenge Fund has approved projects worth ₹31,000 crore within just 20-25 days after finalizing its guidelines, according to D Thara, additional secretary at the Ministry of Housing and Urban Affairs. At a FICCI conference, Thara noted that 44% of the funding for the approved projects is sourced from non-banking financial companies, while public-private partnerships contribute 22%. Bonds represent 5-7% of the financing, with commercial banks providing the remainder. Sanjay Kulshrestha, chairman and managing director of HUDCO, emphasized that cities contribute 60-70% of India’s GDP while occupying only about 3% of its land. He highlighted that the…

Latest StoriesRegulatory

Gurugram: Orris Infra Directors Charged with Land Fraud

GURUGRAM: The Gurugram police have launched a cheating and criminal conspiracy investigation against a real estate firm and its executives, accused of fraud concerning an agreement related to agricultural land near Manesar. The FIR was filed against Orris Infrastructure Private Limited, its directors Vijay Gupta and Amit Gupta, along with authorized signatory Jitender Singh, at Kherki Daula police station on July 7, citing Sections 420 (cheating) and 120-B (criminal conspiracy) of the IPC. The complainants—Ashwani Kumar, Rajpal, and Krishan Kumar, heirs of the late Anand Prakash—allege that the builder illicitly transferred some of their allocated plots to third parties, despite…

IndustryLatest Stories

Sunteck Realty Q1 FY27 Net Profit Jumps 26% to ₹42 Crore

NEW DELHI: On Tuesday, Sunteck Realty announced a 26% drop in its consolidated net profit, reporting Rs 41.96 crore for the quarter ending in June. This is a decrease from Rs 33.43 crore during the same period last year. The company’s total income showed a slight increase, amounting to Rs 202.02 crore in the first quarter of this fiscal year, up from Rs 201.53 crore in the prior year, as indicated in a regulatory filing. The operational expenses also decreased, falling to Rs 150 crore from Rs 159 crore during the review period. Based in Mumbai, Sunteck Realty is recognized…

IndustryLatest Stories

Divyansh Group Buys Ghaziabad Land for ₹128 Crore

Representative AI image NEW DELHI: Divyansh Group has successfully acquired a 12,868 sq metre land parcel located in Koyal Enclave, Ghaziabad, via an auction organized by the Ghaziabad Development Authority. The acquisition cost approximately ₹128 crore, and the land will be transformed into a plotted residential project with a projected sales potential exceeding ₹200 crore. The company anticipates launching the project in the third quarter of the current financial year. The acquisition notably enhances the company’s development pipeline within the National Capital Region. Published On Jul 21, 2026 at 02:26 PM IST Join a community of 2M+ industry professionals. Subscribe…