Category: Latest Stories

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Latest StoriesRegulatory

Civic Body Launches Tax Camps Amid Panchkula Recovery Delays

Representative AI image PANCHKULA: The municipal corporation (MC) of Panchkula has initiated Property Tax Facilitation and Rectification Camps across various wards to assist property owners in clearing their dues before the extended deadline of August 31. This move comes as property tax collections have not met expectations. The camps, which began on Thursday, are located at community centers and MC offices. They offer residents help with self-certifying property details, correcting records, updating ownership information and mobile numbers, verifying outstanding dues, and paying property tax. Property owners must complete self-certification through the Property Tax Dues Payment and No Dues Certificate Management…

Latest StoriesRegulatory

Ranchi I-T Surveys Uncover ₹50 Crore Hidden Income in Realty

RANCHI: The Income Tax (I-T) investigation wing has uncovered undisclosed income amounting to approximately Rs 50 crore during recent surveys at five locations linked to Panache Realtors and the Dayanand Modi Group in Ranchi over the past two days, as reported on Thursday. According to sources, I-T teams are currently reviewing various documents and digital data, including chats mainly pertaining to cash transactions. Experts have been enlisted to recover deleted messages. The partners involved with both real estate firms, such as Narayan Prasad Jalan, Aditya Jhunjhunwala, and Pradeep Modi from Panache Realtors, along with Anurag Modi, Sandip Modi, and Abhimanyu…

Latest StoriesRegulatory

NCDRC Orders Kakade Construction to Refund or Provide Flats

PUNE: The National Consumer Disputes Redressal Commission (NCDRC) has stated that a builder’s inability to complete a project and deliver possession in a timely manner constitutes a clear deficiency in service and an unfair trade practice. According to the NCDRC bench, led by Justice Sudip Ahluwalia and member Sadhna Shanker, “A homebuyer cannot be expected to wait indefinitely for possession. In cases of significant delays, the consumer is entitled to a refund with applicable interest and compensation.” This ruling was based on a Supreme Court judgment from 2020. The bench has mandated that Kakade Construction Company Private Limited, based in…

Latest StoriesRegulatory

Pune Builder, Partner Charged with Duping Retiree of ₹12.58 Crore

PUNE: The Economic Offences Wing (EOW) of the city police has launched an inquiry into a case of fraud against a builder and his associate. They are accused of defrauding an 80-year-old man of ₹12.58 crore over the last decade. A formal complaint was filed at the Koregaon Park police station on Wednesday, leading the EOW to assume responsibility for further investigation. According to Assistant Inspector Kalyani Pandole of the EOW, the complainant was a successful warehouse businessman who is now retired. The police report indicates that the builder initiated a housing project in 2016, prompting the complainant and his…

Latest StoriesRegulatory

HC Permits Bengaluru to Invite Karanth Layout Applications, No Allotments

BENGALURU: The Karnataka High Court has revised its earlier interim order regarding the Dr. K Shivaram Karanth Layout case. The new ruling allows the Bangalore Development Authority (BDA) to invite applications for sites but prohibits any allotments without prior court permission. A special division bench, consisting of Justices M. Nagaprasanna and Venkatesh Naik T, passed this order after reviewing an interlocutory application and an affidavit from BDA that outlined the authority’s financial situation. The Advocate General mentioned that in January 2024, the High Court instructed BDA to maintain the status quo on calling applications for the layout. The authority contended…

Latest StoriesRera

Odisha Government Starts Appointing New RERA Member

BHUBANESWAR: The Odisha state government has begun the process of appointing a new member (administration) to the Odisha Real Estate Regulatory Authority (ORERA), following a vacancy left by the sudden departure of the previous appointee, who was in the role for just under a year. This development is particularly important for ORERA, especially with the chairperson position in the Odisha Real Estate Appellate Tribunal (OREAT) remaining unfilled since May. Stakeholders are concerned that continued vacancies in key roles may hinder the timely resolution of disputes involving homebuyers, developers, and real estate projects. The member (administration) is one of three positions…

IndustryLatest Stories

Redevelopment Starts for 10,600 Unsafe Ahmedabad Housing Units

AHMEDABAD: The Ahmedabad Municipal Corporation (AMC) is shifting its focus to its ageing housing stock after identifying thousands of unsafe private buildings over the last two years. They plan to redevelop more than 10,600 dilapidated residential units throughout the city. A pre-monsoon structural survey of AMC-owned residential properties, including housing for the urban poor, staff quarters, slum accommodations, and health quarters, revealed that 10,632 units across 445 blocks in 42 buildings were deemed unsafe. The civic body has begun the redevelopment of all these buildings. The redevelopment process is currently active for 7,986 units across 266 blocks in 24 buildings,…

CommercialLatest Stories

WeWork India Q1 FY27 Net Loss Narrows to ₹4.61 Crore

NEW DELHI: WeWork India Management reported a consolidated net loss after tax of ₹4.61 crore for the quarter ending June 30, 2026, compared to a net loss of ₹14.14 crore in the same quarter last year, as per a regulatory filing. The company’s total consolidated income saw a 28.4% increase, reaching ₹700.74 crore in Q1 FY27, up from ₹545.71 crore in the previous fiscal’s corresponding quarter. Revenue from operations was ₹698 crore for the quarter, reflecting a 28.5% year-on-year growth. Earnings before interest, tax, depreciation, and amortization (EBITDA) rose by 69.3% to ₹138.30 crore, with the EBITDA margin expanding by…

IndustryLatest Stories

Andhra Pradesh to Issue Property Cards for Urban Assets

Representative AI image VIJAYAWADA: The Andhra Pradesh government plans to implement ‘property cards’ for all urban properties as part of a significant land administration reform. This initiative aims to create a single, authenticated record of ownership, reduce property disputes, and enhance transparency in land transactions. Set to be phased in across municipal corporations, municipalities, and nagar panchayats, the property card initiative will unify revenue, registration, and municipal records into a single digital document for each property. According to sources, the property card will contain essential details like the owner’s name, survey number, property extent, geographic location, municipal assessment, tax records,…

IndustryLatest Stories

Ajmera Realty Q1 FY27 Sales Surge 35% to ₹146 Crore

NEW DELHI: Ajmera Realty & Infra India achieved a sales value of ₹146 crore in Q1 FY27, marking a 35% increase from the previous year. In Q1 FY26, the sales value was ₹108 crore, and ₹270 crore in Q4 FY26. During this quarter, the carpet area sold reached 43,737 sq ft, down 31% from 63,244 sq ft in Q1 FY26. Collections for Q1 FY27 totaled ₹173 crore, compared to ₹234 crore in Q1 FY26. The company noted that while sales volume saw a decline, the sales value increased due to higher realizations across its portfolio. Dhaval Ajmera, the director of…