Category: Latest Stories

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Latest StoriesRegulatory

Bengaluru Authority Auctions 7 Properties Over ₹437 Crore Tax Dues

BENGALURU: If you haven’t settled your property tax dues with the Greater Bengaluru Authority (GBA), be cautious—you might lose your unit in a public auction. In a significant move against defaulters, GBA auctioned off seven properties within the East and North City Corporation limits on Saturday to recover longstanding tax arrears. Despite numerous notices and recovery efforts by the former BBMP and the five new corporations under GBA, many property owners still fail to make tax payments. With tax dues reaching ₹437 crore across nearly 7,000 units in the city, authorities have decided to resort to property auctions as a…

Latest StoriesRera

Rajasthan RERA: Banks can’t claim rights on allotted flats

JAIPUR: In a landmark ruling aimed at safeguarding homebuyers, the Rajasthan Real Estate Regulatory Authority (RERA) has determined that banks and financial institutions cannot assert claims over apartments booked to buyers prior to the establishment of a loan. The authority further stated that RERA proceedings may proceed against builders’ directors and landowners, even amidst insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). This decision was made by Rajasthan RERA chairperson Veenu Gupta on February 19 and was published on Saturday, relating to the Avalon Royal Park housing project located in Bhiwadi. The project, initiated in 2012 by M/s G…

Latest StoriesRegulatory

1,400 Illegal Properties to Be Demolished in Rajkot Drive

Representative AI image RAJKOT: A total of 1,489 illegal properties in Rajkot, Gujarat, are set to be demolished as civic authorities launched a major anti-encroachment campaign on Sunday, according to officials. Following instructions from Deputy Chief Minister Harsh Sanghavi, the Rajkot Municipal Corporation (RMC) initiated the demolition in the Jangleshwar area. The RMC, supported by police, will begin tearing down properties along the Aji River banks and on a municipal town planning road in Jangleshwar, as stated by Municipal Commissioner Tushar Sumera. The civic body commenced the process of vacating residents on Saturday, he added. Over 1,200 municipal officials and…

Latest StoriesRegulatory

NCLAT Orders Insolvency Withdrawal for Mahagun Settlement

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has ordered the withdrawal of insolvency proceedings against Mahagun Realty after the company reached a settlement with its financial creditor. A two-member bench of NCLAT acknowledged the settlement agreement between Mahagun (India) and IDBI Trusteeship, dated February 12, 2026. A request was submitted by the financial creditor to the NCLAT to retract the insolvency proceedings against Mahagun. “During the pending matter before this Adjudicating Authority, the parties have entered into a settlement agreement dated 12.02.2026. The Applicant/Financial Creditor wishes to withdraw IB-112(ND)/2025,” stated the NCLAT in its order. The NCLAT subsequently…

Latest StoriesResidential

BPTP Partners on 11-Acre Residential Project in Surajkund

NEW DELHI: BPTP, through its wholly-owned subsidiary Urban Realtech, has formed a joint development partnership with the landowner to create a residential group housing project on nearly 11 acres in Sector 39, Surajkund, Faridabad. Kabul Chawla, the chairman and managing director of the company, stated, “We believe this project has the potential to enhance our regional portfolio and deliver long-term stakeholder value.” The proposed project is set to encompass a developable area exceeding two million square feet. Published On Feb 22, 2026 at 05:00 PM IST Join a community of over 2M industry professionals. Subscribe to our newsletter for the…

InfrastructureLatest Stories

Activists to Protest Illegal Buildings at Belapur Hills, Feb 22

NAVI MUMBAI: Environmental organizations such as Save Belapur Hills Forum and NatConnect Foundation are urging for the immediate implementation of no-development regulations on the landslide-sensitive Belapur Hills. Activists plan to hold a ‘Human Chain’ awareness campaign at Mahakali Chowk near the CBD-Belapur bus depot on February 22. Their concerns arise from billboards in Belapur announcing a foundation day event, which is associated with a trust listed as an encroacher according to Cidco’s legal records. In an open letter, they highlighted Cidco’s prior attempt to commence demolition in July 2024 during the monsoon season, which they labeled as “cosmetic.” The efforts…

IndustryLatest Stories

Delhi circle rates to be updated for property market trends

NEW DELHI: The Rekha Gupta government is undertaking a thorough revision of circle rates across all property categories, ranging from A to H. This marks the first organized recalibration in years to align notified rates with current market trends. While premium colonies are set to experience a modest increase, there are steeper hikes proposed for mid- and lower-segment areas, where officials report that actual market transactions often exceed existing circle rates, based on an internal government report. Areas like Prithviraj Road, Jor Bagh, and Sundar Nagar are reportedly experiencing market values of at least Rs 18-22 lakh per square metre,…

IndustryLatest Stories

Uttar Pradesh to Use Vacant Society Spaces in Redevelopment Plan

LUCKNOW: Residents of Lucknow and other significant cities may join forces to redevelop existing housing societies. Following the example set by metro cities, a new redevelopment policy launched by the state government allows for the utilization of additional space in residential layouts to create larger units. If two-thirds or more apartment owners in a layout exceeding 1,500 sq mt (16,146 sq ft) consent, redevelopment efforts can commence to construct improved apartments. To support the project’s financial viability and attract private developers, various incentives will be available. The local housing development authority will provide a 50% rebate on development charges, an…

IndustryLatest Stories

Vadodara Civic Body Lacks Rental Records Before 1983

VADODARA: The Vadodara Municipal Corporation (VMC) is facing ongoing issues with the frequent disappearance of old documents related to the properties it has rented out across the city. The VMC is currently owed approximately Rs 12 crore from various rental agreements, including shops, cabins, handcarts, and temporary sheds. It keeps a register to track all properties that have been rented out. Unfortunately, it appears that many of the rent records maintained over the years are the only documentation available for numerous properties. In total, there are 2,737 such rental agreements on file. A VMC official noted that many of these…

IndustryLatest Stories

Commercial Plots for Project-Affected Farmers in New Nagpur

Representative AI image NAGPUR: Maharashtra’s Revenue Minister Chandrashekhar Bawankule introduced a “historic” package for the New Nagpur initiative on Friday. He stated that landowners affected by acquisitions would now receive commercial plots alongside monetary compensation, as the government began gathering eligibility lists for a potential farm loan waiver. During a media briefing in Nagpur, Bawankule highlighted that the updated package represents a significant shift from the previous policy, which only provided financial compensation. Under the new framework, farmers in commercial zones will also receive developed plots, reinforcing support for the project and expediting the city’s growth. Additionally, the state launched…