Category: Latest Stories

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Latest StoriesRegulatory

Telangana HC Rebukes HYDRAA for Illegal Construction in Salkam Cheruvu

File photo HYDERABAD: The Telangana High Court has criticized HYDRAA for its alleged discriminatory actions regarding the demolition of structures and land fencing, even those currently under litigation. The court questioned why no action has been taken against the Barrister Fatima Owaisi Educational Campus, which reportedly stands in the Full Tank Level (FTL) area of Salkam Cheruvu in the Old City. Justice NV Shravan Kumar took note of the institution’s construction within the lake without the necessary approvals and mandated a comprehensive inquiry into the actions of officials who failed to act over the years. He directed the principal secretaries…

CommercialLatest Stories

EFC (I) Plans ₹160 Crore Rights Issue at ₹150/Share

NEW DELHI: EFC (I), a managed workspace operator based in Pune, has received approval from its board to raise up to ₹159.94 crore through a rights issue of equity shares, as detailed in a regulatory filing. The board initially approved the rights issue on April 3, 2026, and has now approved the issuance of 1,06,62,786 fully paid-up equity shares at a price of ₹150 each, which includes a face value of ₹2 and a premium of ₹148. The rights entitlement ratio is set at 8:103, meaning eligible shareholders can claim eight rights equity shares for every 103 fully paid-up equity…

Latest StoriesResidential

Telangana to Allocate 2BHK Homes by End of May

HYDERABAD: Housing and Revenue Minister Ponguleti Srinivas Reddy has tasked officials with identifying and allocating double-bedroom houses to beneficiaries across Telangana by the end of May, regardless of construction status. In a review meeting, he underscored the urgency of completing near-finished houses and announced financial support of up to ₹5 lakh under the Indiramma housing scheme for those houses that are partially constructed. If contractors decline to finish the work, beneficiaries will be allowed to complete construction independently, with funding released through a green channel. Concerns were raised by various MLAs regarding ineligible occupants in the houses. The minister directed…

CommercialLatest Stories

Concorde leases 140K sq ft to BHIVE; TEC adds 90K sq ft in Mumbai, Pune

NEW DELHI: Concorde, based in Bengaluru, has entered a leasing agreement with BHIVE Workspaces for 1.4 lakh sq ft of grade-A office space at Concorde Econex, valued at an annual rental of ₹16 crore. The new facility, located in Doddanekkundi, Whitefield, consists of a ground floor and four upper levels. This long-term partnership features a 15-year lease, allowing BHIVE to accommodate over 3,000 workstations. In another announcement, The Executive Centre (TEC) has revealed the addition of approximately 90,000 sq ft of workspaces in Mumbai and Pune. In Mumbai, TEC is set to launch two new centers: one at One BKC,…

IndustryLatest Stories

Prayagraj launches OTS program for defaulters to clear dues

PRAYAGRAJ: The Prayagraj Development Authority (PDA) has introduced a significant relief measure for numerous allottees in its housing and plot schemes by launching the One-Time Settlement (OTS) scheme aimed at clearing long-standing dues. Officials report that 317 defaulters owe a total of approximately Rs 41 crore. These defaulters are individuals who acquired flats or plots but have not adhered to their payment instalments. As a result, interest has accumulated, with some cases seeing the compounded interest nearly matching the original property costs. In many instances, the plot registries were completed, but the freehold processes remained incomplete, which caused further delays…

Latest StoriesRegulatory

Gujarat HC mandates aeronautical survey before SVPI airport demolition

AHMEDABAD: The Gujarat High Court issued an important ruling on Thursday, directing the Airports Authority of India (AAI) and relevant authorities to conduct an aeronautical survey of buildings after complaints from six developers. These developers received demolition notices for construction exceeding permitted heights, posing a potential risk to flights near Sardar Vallabhbhai Patel International Airport. Advocate Nimit Shukla, representing one of the developers, stated, “The developers—Mahil Infra, Abjibapa Infra, Preyas Infra, Balaji Developers, Kalash Infra, and Parth Developers—constructed multiple towers with a maximum height of 102.7m in Hanspura, Naroda, Nana Chiloda, and adjoining areas, all with the necessary clearances from…

Latest StoriesRegulatory

Nashik Collects ₹76 Crore in Property Tax for April 2026

NASHIK: The Nashik Municipal Corporation (NMC) has successfully increased its property tax collection, raking in Rs76.19 crore in April—a 61.71% rise compared to Rs49.99 crore during the same month last year. This surge is attributed to the introduction of an 8% rebate for taxpayers who pay their annual dues in a single installment within the first month of the fiscal year. Civic officials reported, “In April, approximately 1.55 lakh property owners took advantage of this scheme, receiving total rebates of Rs4 crore. This positive response has bolstered our confidence in meeting this year’s property tax goals.” The NMC has set…

InfrastructureLatest Stories

Uttar Pradesh to Upgrade 100 Small Towns in Phase II Plan

LUCKNOW: The state government is set to initiate the second phase of the aspirational towns program, aimed at upgrading 100 urban local bodies in a phased approach. Launched in September 2023, the scheme focuses on enhancing essential services and amenities in smaller towns, with 100 of the most underdeveloped local bodies selected for funding. As the first phase concluded on March 31 after achieving its goals, the state has identified 100 additional towns, each with a population between 20,000 and 100,000. Senior officials from the urban development department announced a budget of ₹175 crores to improve civic amenities in these…

Latest StoriesRegulatory

Hubballi-Dharwad Grants 5% Property Tax Rebate Until May 31

HUBBALLI: Mayor Jyoti Patil announced at the Hubballi-Dharwad Municipal Corporation (HDMC) general body meeting on Thursday that the 5% concession period for property tax payment for the 2026–27 financial year has been extended until May 31. This decision follows a 12-day delay in starting property tax collections due to technical issues, with payments beginning only on April 12. Additionally, several festivals and observances during April hindered timely tax payments by property owners in Hubballi and Dharwad. Iresh Anchatageri, the house leader, raised this issue in the meeting, suggesting that the concession period, originally set to end on April 30, be…

InfrastructureLatest Stories

Karnataka OKs ₹18,000 Crore Township for Greater Bengaluru

BENGALURU: On Thursday, the Karnataka government approved the Rs 18,000-crore Greater Bengaluru integrated suburban township project, designed as a ‘work-live-play’ initiative. The sprawling 7,481-acre township will encompass the entire Bengaluru South district, including areas like Bidadi and Ramanagara. Approximately 6,650 acres of land will need to be acquired from private owners. The project will see the state government provide a guarantee for Rs 7,500 crore to be sourced from the housing finance institution Hudco. The remaining funds will come from the Bangalore Development Authority and the monetization of CA sites in the Bengaluru Metropolitan Region by leveraging sites with banks.…