Category: Latest Stories

Access daily updates on all real estate sectors including residential, commercial, retail, and infrastructure. Stay ahead with market trends, policy changes, investment news, and expert analysis from across the globe.

InfrastructureLatest Stories

Water Crisis Worsens in Kazhakkoottam and Technopark

Representative image THIRUVANANTHAPURAM: Residents and IT professionals in Kazhakkoottam and Technopark are currently facing a severe drinking water shortage. Many rely on tanker supplies as summer intensifies, with around 50 tanker lorries deployed to meet the demands of Technopark, which accommodates nearly 490 companies. Phases I and III of the park are particularly hard hit. The crisis is not limited to Technopark; approximately 20 wards in the Kazhakkoottam region are experiencing acute shortages. Residents report erratic and unreliable water supply, forcing them to seek alternatives. Priya George, an employee at a Technopark-based multinational company in Phase 1, described the situation…

IndustryLatest Stories

Godrej Properties’ FY26 Net Profit Soars 32.49%

NEW DELHI: Godrej Properties (GPL) has announced a significant net consolidated profit increase of 32.49% for the financial year 2025-26, totaling ₹1,840.66 crore, compared to ₹1,389.23 crore in FY25, as reported in a BSE filing. The company’s total consolidated income rose to ₹8,410.88 crore in FY26, reflecting a growth of 20.72% from ₹6,967.05 crore in FY25. In Q4 FY26, net consolidated income surged by 41.98% to ₹3,806.65 crore, up from ₹2,681.06 crore in the same quarter last year. The profit after tax in that quarter rose by 70.55%, reaching ₹645.44 crore compared to ₹378.44 crore in the previous year. Pirojsha…

InfrastructureLatest Stories

Haryana: India’s 3rd Most Groundwater-Stressed State

Representative image GURUGRAM: Haryana has become India’s third most groundwater-stressed state, with 88 assessment units labeled as overexploited, making up 61.5% of its groundwater blocks, according to data from the Central Ground Water Authority (CGWA) presented to the NGT. The NGT has criticized states for ineffective enforcement against illegal extraction and insufficient recharge efforts, prompting a broader review. The CGWA report indicates that only Punjab, with 75.1% of its groundwater units overexploited, and Rajasthan at 70.9%, perform worse than Haryana. Following Haryana are Delhi (41.2%), Tamil Nadu (33.87%), Karnataka (18.99%), and Uttar Pradesh (7.06%). During a suo motu hearing on…

CommercialLatest Stories

Ludhiana Civic Body Plans to Sell Commercial Properties for Revenue

LUDHIANA: The cash-strapped civic body is now considering selling its commercial properties across the city to raise funds. According to sources, officials are currently determining the property values to prepare for an upcoming auction. These commercial properties have been identified, and there is optimism about finding buyers. “They have earmarked 65 shop-cum-offices for auction in Shaheed Bhagat Singh Nagar, situated opposite Keys Hotel. Some of these SCOs were previously auctioned, yielding significant revenue. Additionally, a commercial site of 268.44 square yards near Kailash Cinema Chowk, 10 shops in the Bearing Market near Jagraon Bridge, and a commercial property of 653…

Latest StoriesResidential

Kolkata: Salt Lake Residents Receive Property Tax Bills

KOLKATA: The Bidhannagar Municipal Corporation (BMC) has commenced dispatching property tax bills for the year 2026-27 to households in Salt Lake. Taxpayers can benefit from a 5% tax rebate (excluding any arrears) if payments are made by the due date. For those who have not settled their past dues from the previous financial year, a 10% penalty along with 10% interest applies to the total overdue amount as of March 31. Tax payments can be made online at www.bmcwbgov.in using debit or credit cards, net banking, or through the Bharat Bill Payment System. Physical payments can also be made at…

Latest StoriesResidential

Indiramma Housing Phase II Coming Soon, Says Telangana Minister

HYDERABAD: Revenue and Housing Minister Ponguleti Srinivas Reddy announced on Sunday that the second phase of the Indiramma housing scheme will commence shortly. The state government is actively addressing issues related to sada bainama, prohibited land lists, and land records. During a ‘praja darbar’ event in Kusumanchi, Khammam district, he noted that many applicants were seeking Indiramma houses. “The overwhelming demand for Indiramma houses stems from the previous BRS government not fulfilling its promise to provide 2-BHK homes for the poor. They have let the people down on housing,” he stated. Reddy highlighted that the Congress government is directly transferring…

Latest StoriesRegulatory

Andhra Pradesh ULBs’ Property Tax Collections Rise 24% to ₹1,010 Cr

AMARAVATI: Andhra Pradesh’s Urban Local Bodies (ULBs) have raised over Rs 1,010.7 crore in property tax for April, including arrears and penalties, showing a 24.1% increase from the Rs 814.1 crore collected during the same month last year, according to a top official’s statement on Sunday. The increase is attributed to a comprehensive revenue strategy that incorporates Geographic Information System (GIS)-based property mapping, drone surveys, digital dashboards, and app-based payments, as stated by Municipal Administration and Urban Development Principal Secretary S. Suresh Kumar. “In April, property tax collections exceeded Rs 1,010 crore, including arrears and penalties, marking over a 24%…

IndustryLatest Stories

Pushback on Bengaluru’s Proposed Building Bylaw Amendments

BENGLALURU: The Bengaluru East City Corporation has released a draft notification proposing significant updates to the Bengaluru City Corporation Building Bye-laws, 2003. These updates include provisions to regularize specific construction deviations from approved plans through the payment of compounding fees. Published on April 1, 2026, under the Greater Bengaluru Governance Act, 2024, this draft amendment is open for public feedback for 30 days before final consideration. Key proposed changes include the removal of existing regulations regarding ground rent. Notably, the draft intends to modify Bye-law 6.0 to allow the Commissioner to regularize violations in sanctioned plans when demolition is unfeasible,…

Latest StoriesRegulatory

Bengaluru body not a ‘promoter’: Petition in Karnataka HC

BENGALURU: The Bangalore Development Authority (BDA) has filed a writ petition with the Karnataka High Court, dated April 27 and registered April 29. The petition seeks clarification on whether the Real Estate (Regulation and Development) Act, 2016, is applicable to its residential layouts and schemes. The petition names the Union of India, the Karnataka government, and the Karnataka Real Estate Regulatory Authority (K-Rera) as respondents. BDA argues that it doesn’t meet the definition of a “promoter” as per Section 2(ZK) of the Act and thus should not fall under K-Rera’s jurisdiction. Additionally, BDA is requesting a declaration that the provisions…

IndustryLatest Stories

Mumbai’s Slum Skyscrapers: A Hidden Development Boom

MUMBAI: With the city unable to expand horizontally, Mumbai’s vast slums are evolving vertically. In areas like Govandi, Kurla, and Bandra East, traditional ground-plus-one shanties are giving way to ‘slum skyscrapers’ that reach five to seven stories, openly defying the 14-foot height limit. Civic activist Zoru Bathena, who resides in Juhu, points to areas close to Juhu Tara Road where shanties have transformed into four-story structures. Despite multiple complaints to local authorities, enforcement of regulations remains inconsistent. “The BMC intervened briefly, but construction resumed shortly after,” Bathena noted, emphasizing that while these slums have existed for years, their recent multi-story…