Category: Latest Stories

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Latest StoriesRegulatory

ED Files Case Against TDI Infrastructure and Directors

CHANDIGARH: The Directorate of Enforcement (ED) has filed a prosecution complaint against TDI Infrastructure Ltd. and its directors — Ravinder Taneja, Kamal Taneja, and D N Taneja — under the Prevention of Money Laundering Act (PMLA), 2002, officials confirmed on Saturday. This action follows the chargesheet filed by the Gurugram unit of the ED before the special PMLA court at Patiala House, New Delhi, which has issued notices to all accused parties. As per ED, the investigation was triggered by several FIRs and charge sheets from Delhi Police. The agency accuses TDI Infrastructure and its promoters of cheating numerous homebuyers…

Latest StoriesRegulatory

Hubballi-Dharwad extends 5% property tax rebate to May-end

HUBBALLI: The Hubballi-Dharwad Municipal Corporation (HDMC) has extended the 5% property tax rebate through the end of May due to lower-than-expected collections following a delayed start to the payment initiative. The collection process, which was set to kick off on April 1, began instead on April 7. Initially, the rebate was available for taxpayers who paid their dues for the fiscal year 2026-27 by April 30. However, as collections remained disappointing, the rebate period has now been prolonged until May 31. HDMC has established a property tax collection target of Rs 235 crore for 2026-27, with just Rs 90 crore…

IndustryLatest Stories

Maharashtra to Challenge Bombay HC Ruling on Mira-Bhayander Land

MUMBAI: The Maharashtra government intends to challenge the Bombay High Court’s directive to transfer approximately 254.88 acres of land in Mira-Bhayander, Thane district, to two developers, as stated by Revenue Minister Chandrashekhar Bawankule on Saturday. The High Court ruled in favor of The Estate Investment and Mira Real Estate Developers regarding land valued at crores of rupees, according to an official statement. Bawankule affirmed, “The land is owned by the state. We will robustly present our case in the Supreme Court to ensure it remains in government hands,” announcing plans to file a Special Leave Petition against the April 30…

Latest StoriesRegulatory

Patna offers ₹40 lakh rebate for early property tax payers

PATNA: The Patna Municipal Corporation (PMC) has granted approximately Rs 40 lakh in tax relief to 35,948 property owners who took advantage of the early-payment incentive scheme from April 1 to May 7, 2026. According to the Bihar Municipal Property Tax Rules, 2013, the civic authority is offering a 5% discount on the principal tax amount for lump-sum payments made in the first quarter of the 2026-27 fiscal year. This rebate will be available until June 30. During the initial five weeks of this scheme, the corporation collected nearly Rs 11 crore in property tax. Data from PMC reveals that…

Latest StoriesResidential

Odisha Tops India in PMAY-U 2.0 Housing Completions

BHUBANESWAR: Odisha has secured the top position in the nation for successful housing completions under the Pradhan Mantri Awas Yojana-Urban (PMAY-U 2.0), maintaining its rank since March 2025, according to officials. Since its launch in September 2024, PMAY-U 2.0 has seen Odisha consistently making strides in offering affordable housing solutions to urban beneficiaries. Between March 2025 and March 2026, the state achieved the highest number of completed houses compared to other states. Official statistics indicate that 24,625 houses have been approved under PMAY-U 2.0 in Odisha to date, with 23,464 sites geo-tagged. Construction has commenced for 3,134 houses, and 2,008…

IndustryLatest Stories

UP Cuts Development and Building Permit Fees in Ghaziabad

GHAZIABAD: The UP government has further reduced development and building permit fees in multiple districts, including Ghaziabad. Previously, the fee in Ghaziabad increased from Rs 2,500 per sqm to Rs 4,170 per sqm in January. The new order has slightly decreased it to Rs 4,165 per sqm. In January, Ghaziabad experienced the highest hike, with a surge of over 66%. Despite the recent reduction, the city retains the highest development fee in the state. As per a GDA official, the fee in Loni, Muradnagar, and Modinagar has been reduced from Rs 1,510 per sqm to Rs 1,450 per sqm. New…

Housing FinanceLatest Stories

RBI Fines YES Bank and Hinduja Housing Finance

Sure! Here’s a rewritten version of the content: MUMBAI: The Reserve Bank of India (RBI) has imposed a penalty of ₹31.80 lakh on YES Bank for failing to comply with ‘Know Your Customer’ (KYC) regulations. The RBI noted that YES Bank did not establish a system to utilize the KYC Identifier assigned by the Central KYC Records Registry for creating account-based relationships with customers. Previously, the RBI conducted a statutory inspection of the bank to evaluate its financial status as of March 31, 2025. Additionally, a fine of ₹1.8 lakh was imposed on Hinduja Housing Finance Ltd for non-compliance with…

IndustryLatest Stories

TGIIC to Auction 11 Acres in Raidurg at ₹139 Crore/Acre

Representative AI image HYDERABAD: The Telangana State Industrial Infrastructure Corporation (TGIIC) is preparing for a new land auction in Raidurg Panmaktha (Knowledge City), with a record upset price set at Rs 139 crore per acre. Officials estimate that the government could generate around Rs 2,000 crore from the sale of approximately 11 acres. TGIIC announced the auctions on Thursday. One plot, identified as survey no 83/1 and measuring 6.29 acres, will be auctioned on May 28, while another plot of 5.09 acres from the same survey number will be sold on June 1. In October 2025, a previous auction achieved…

Latest StoriesResidential

SBI Calls for Review of Affordable Housing Definition Amid Loan Surge

MUMBAI: The State Bank of India (SBI), the nation’s largest lender, has requested a review of the definition of affordable housing, pointing to a significant rise in the average size of home loans recently. Chairman C.S. Setty stated that SBI, which commands the largest share in the competitive affordable housing segment, has observed that the average loan size has increased to ₹51 lakh, up from ₹35-40 lakh just two years ago. Setty emphasized, “The definition of affordable homes needs to be revised. This is what we have consistently communicated to the Government of India,” during a post-earnings interaction with reporters.…

CommercialLatest Stories

Boston Scientific leases 130,000 sq ft office in Pune’s Wakad

MUMBAI: Boston Scientific, a global leader in medical technology, has secured over 130,000 sq ft of office space in Pune through a long-term lease of nearly 9.5 years, emphasizing the sustained interest from multinational companies in expansive office campuses in major tech hubs. Boston Scientific Technology and Engineering Services has leased 130,682 sq ft on the sixth and seventh floors of Eon West LP II, Tower D, located in Wakad, Pune. The lease also includes an option to lease the eighth floor until March 2027, suggesting potential future expansion at the site. The office space was leased from Wakad Realty…