Category: Latest Stories

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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…

IndustryLatest Stories

Lucknow to Introduce One-Time House Tax Settlement Scheme

Representative AI image LUCKNOW: Residents with outstanding house taxes will soon have the opportunity to settle their dues under a new one-time settlement (OTS) scheme introduced by the Lucknow Municipal Corporation (LMC). This initiative will be active from August 15 to December 15, following directives from the Uttar Pradesh government. The scheme will apply to all unpaid house tax, water tax, and sewer tax dues up to April 1, 2026, covering residential, commercial, industrial, government, semi-government, and public sector properties within the LMC jurisdiction. Taxpayers who pay their principal outstanding amount will be eligible for a waiver or concession on…

IndustryLatest Stories

Property deeds can be registered in Goa districts.

Representative AI image PANAJI: Citizens can now register sale deeds and other property-related documents at any sub-registrar office across the district. The state government has finalized the district-wide registration process. Goa is comprised of three districts. Previously, property registrations were confined to respective taluka-level sub-registrar offices. Chief Minister Pramod Sawant announced to TOI that the government has decided to permit registration of property deeds from any location within the district, with implementation set to begin shortly. This decision follows models established in Maharashtra and Karnataka. A senior government official clarified that this change pertains solely to property-related registrations, excluding others.…

IndustryLatest Stories

Goa: NAKSHA Won’t Impact Property Ownership, Boundaries

Representative AI image PANAJI: All current property titles, boundaries, and official land records are completely secure and remain unchanged due to the National Geospatial Knowledge-based Land Survey of Urban Habitations (NAKSHA) pilot project. In light of concerns surrounding the mapping initiative, the Directorate of Settlement and Land Records (DSLR) and the Centre’s Department of Land Resources have issued a clarification to dispel “groundless rumors”. DSLR assured that the rights of non-resident landowners and those living abroad are fully protected. “Being physically absent during a survey visit does not jeopardize property rights or ownership. The program features multiple verification stages and…

IndustryLatest Stories

Institutional Real Estate Investments Drop 7% YoY to $1.9B in Q2 2026

NEW DELHI: Institutional investments in India’s real estate sector reached $1.9 billion in Q2 2026, marking a seven percent decrease year-on-year, as reported by Cushman & Wakefield. Sequentially, this represents a 16 percent increase compared to the previous quarter. Total institutional investments for H1 2026 amounted to $3.5 billion, up six percent from H1 2025. In Q2 2026, the office sector drew nearly $1 billion, constituting 51 percent of total investments, indicating four consecutive quarters where office assets led the real estate investment landscape. Domestic institutions made up 54% of total Q2 investments, while foreign investors accounted for 46%. This…

IndustryLatest Stories

Jharkhand to Impose Surcharge on Property Transactions for Revenues

RANCHI: The cost of purchasing properties in urban areas across Jharkhand is poised to increase. The state government has introduced a new levy on property transactions aimed at boosting revenue. The proposed Jharkhand Municipal Land/Building Transfer Surcharge Rules 2026, shared by the state’s urban development and housing department, suggests a 10% surcharge on the total stamp duty and registration fees for property transfers within municipal and industrial township limits. This revenue will be allocated to civic bodies for various expenditures. “These rules are part of our strategy to enhance municipal revenue and assist in alleviating financial constraints. We are pursuing…

IndustryLatest Stories

Sobha’s Q1 FY27 Net Profit Soars 274% to ₹50.84 Crore

NEW DELHI: Sobha has announced a remarkable 273.5% increase in its net consolidated profit after tax, totaling ₹50.84 crore for the quarter ending June 30, 2026, compared to ₹13.61 crore during the same period last year. The company’s net consolidated total income rose 47.6% to ₹1,330.17 crore in Q1 FY27, up from ₹901.40 crore in Q1 FY26. Real estate sales value surged 76% year-on-year, reaching ₹3,656 crore. The company sold 2.34 million sq. ft. in this quarter, a 62% increase compared to the previous year. Collections saw an 8% increase year-on-year, amounting to ₹1,924 crore. The average sales realization was…

Latest StoriesRegulatory

ED seizes 389 properties worth ₹240 crore in Grand Venezia case

ED provisionally attaches assets worth ₹158.37 crore in Rockland Hospitals PMLA case NEW DELHI: The Enforcement Directorate’s Lucknow Zonal Office has provisionally attached 389 immovable properties valued at ₹240.03 crore under the Prevention of Money Laundering Act, 2002, concerning a money laundering case involving Bhasin Infotech and Infrastructure, Grand Venezia Commercial Towers, Satinder Singh Bhasin, and others. The agency noted that the current market value of the attached properties exceeds ₹700 crore. The assets seized include five properties in Goa, valued at ₹37 crore, owned by India Oceanworld and Goa Connect Properties. Additionally, 384 commercial units and shops in Grand…

IndustryLatest Stories

Bhubaneswar to Survey Buildings in August for Identification

BHUBANESWAR: In light of recent Supreme Court observations regarding the conversion of residential buildings into commercial spaces, the Bhubaneswar Municipal Corporation (BMC) plans to conduct a door-to-door survey starting in August to accurately categorize residential and commercial properties. Currently, BMC lacks a detailed inventory of these properties, which hinders their ability to evaluate the holding tax—levied at different rates for residential and commercial entities. Officials pointed out that the absence of data on commercial properties adversely affects BMC’s revenue, as taxes for commercial holdings are considerably higher than for residential ones. “Our records indicate a total of 1.19 lakh holdings…

Latest StoriesRegulatory

Bombay HC Cancels Auction of 4-Acre Shikrapur Housing Land

PUNE: The Bombay High Court has overturned the auction held on April 29 for a 4.42-acre plot, part of the Aura City housing project at Shikrapur in Shirur taluka, due to a recovery warrant issued by MahaRERA in 2021. On July 15, a bench comprising Justice AS Gadkari and Justice Kamal Khata instructed the developer, Bhagvati Infra (formerly M/s Jalan Maple Shelters), to reimburse 13 flat purchasers from 2012, including interest, within a fortnight. According to advocate Vikramsinh Patil, who represented the buyers, the total amount, including interest, stands at Rs 3.15 crore. The court mandated that once the payment…