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Goa police will implement tenant verification regulations under the newly notified Goa (Verification of Tenants) Rules, 2026. Property owners who do not verify their tenants’ identities or keep proper records may incur fines up to Rs 10,000. Additionally, the police will keep inspection logs and report any instances of non-compliance or inaccurate information.
NEW DELHI: Suraj Estate Developers has purchased a plot of land in Dadar West, Mumbai, for ₹18 crore, according to a company statement. The deal comprises a cash payment of ₹8.53 crore and an obligation to provide approximately 2,200 sq ft of space to the landowners, bringing the total transaction value to ₹18 crore. Rahul Thomas, the company’s whole-time director, stated, “We are focused on disciplined growth, selective acquisitions, and efficient execution, and we are exploring additional opportunities that align with our strategic objectives.” The company plans to redevelop the land, which has a saleable carpet area of 0.18 lakh…
Representative Image MUMBAI: In a ruling favoring taxpayers, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has determined that a claim for capital gains exemption under Section 54 of the Income Tax (I-T) Act cannot be rejected solely due to the absence of an initial I-T return. The tribunal stated that such claims should be considered if made during reassessment proceedings. The case centered around M Sheikh, a taxpayer who initially did not file an ‘original’ I-T return as required under Section 139(1) but later submitted it in response to a notice for reassessment under Section 148. This…
Sowparnika Projects, a prominent real estate developer in South India, is in the final stages of raising ₹500 crore to support its expansion and enhance its project portfolio over the next 18 to 24 months. “We are negotiating with several funds, including Neo Alternative Asset Managers, WSB Real Estate Partners, and ASK. The company has received approvals for transactions from some of these investors and is aiming to finalize the ₹500 crore target,” stated Ramji Subramaniam, Managing Director of Sowparnika Projects. “In the next two years, we plan to develop 5.5 million sq ft across Bengaluru, Kerala, and Tamil Nadu,”…
NEW DELHI: India is set to establish a dedicated bench within the National Company Law Tribunal (NCLT) that will focus on cross-border insolvency cases, aiming to expedite legal proceedings following the notification of new bankruptcy regulations, according to sources familiar with the development. The cross-border framework, which received approval last month as part of amendments to the Insolvency and Bankruptcy Code (IBC), will draw from a UN model law but will be tailored to better fit India’s requirements. This initiative is designed to simplify access for creditors to the foreign assets of distressed companies and facilitate India’s collaboration with international…
NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) has pushed back the application deadline for its planned 500-acre FinTech hub in Sector 11 near the Noida International Airport to April 29, from the previous April 2 deadline. Shailendra Bhatia, the authority’s additional CEO, explained that the deadline was adjusted to coincide with an upcoming financial summit aimed at attracting global investors and industry representatives. “We have moved the bid due date from April 2 to April 29, with the technical bid opening now set for May 1. This change is due to the Money Alpha 360° summit, which focuses on…
BENGALURU: For thousands of property owners in the city, obtaining an A-khata remains a significant challenge, with only 818 properties receiving this designation in the past six months, according to official data. The process for converting B-khata properties into legally recognized A-khata properties was made public on October 15 last year. Despite there being an estimated 820,000 B-khata properties in Bengaluru, only 8,308 applications have been submitted, with only about 10% approved, leaving around 7,490 applications still pending. “The primary hurdle isn’t administrative delays but the lack of proper documentation from applicants. Many property owners do not have approved layout…
NEW DELHI: A Delhi court has placed former senior executives of the Reliance Anil Ambani Group (RAAG), Amitabh Jhunjhunwala and Amit Bapna, in the custody of the Enforcement Directorate (ED) for five days as part of an investigation into a money laundering case linked to alleged bank loan fraud. The 24-page ruling noted that the ED uncovered allegations that loan funds were misappropriated and funneled to shell companies controlled by the group. The ruling also mentioned that emails recovered during the inquiry have “crystalized” the involvement of both individuals in the diversion of substantial loan amounts. The pair were arrested…
BENGALURU: The Karnataka Real Estate Regulatory Authority (K-Rera) has instructed the Bangalore Development Authority (BDA) to pay ₹56 lakh in interest to complainant Mridula Krishnapur for delays in providing basic amenities at the Nadaprabhu Kempegowda Layout (NPKL). This decision marks a significant setback for the BDA, whose NPKL project was previously flagged as lapsed by K-Rera last year. The authority also determined that BDA qualifies as a ‘promoter’ under the Rera Act, holding it accountable for any delays and inadequacies. Mridula had purchased a site in the 8th Block of Sector-B of NPKL in Kengeri hobli for ₹96.9 lakh under…
NEW DELHI: Lieutenant Governor Taranjit Singh Sandhu visited Swabhiman Apartments, a Delhi Development Authority (DDA) housing project in Jailorwala Bagh, Ashok Vihar, on Thursday. He engaged with residents to gain first-hand insights on living conditions, civic amenities, and maintenance issues. The visit was motivated by a commitment to citizen-centric governance. Post-interaction, the LG instructed relevant departments to prioritize addressing residents’ concerns, ensuring a safe, clean, and well-maintained living environment. Swabhiman Apartments is one of the flagship initiatives under the Prime Minister’s vision of “Jahan Jhuggi, Wahin Makan,” which aims to rehabilitate residents from jhuggi-jhopri clusters through in-situ redevelopment. Residents expressed…
