Category: Latest Stories

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IndustryLatest Stories

Chandigarh Faces Dilemma: Land Pooling vs. Acquisition Policy

Here’s a rewritten version of the provided content: CHANDIGARH: The Chandigarh administration finds itself in a complex situation, balancing increasing pressure from the Centre to optimize limited urban land with ongoing demands from farmers and internal planning challenges regarding the future development of the UT’s remaining peripheral villages. On one hand, there’s a push for farmer-friendly initiatives; on the other, financial constraints and a commitment to the Chandigarh Master Plan-2031 are urging a return to traditional outright land acquisition methods. Large swathes of agricultural land near 22 periphery villages remain undeveloped. Land pooling, once viewed as a collaborative alternative, has…

Latest StoriesResidential

Ludhiana: 1,500+ Compete for LIT’s Atal Apartment Scheme

LUDHIANA: The Ludhiana Improvement Trust (LIT) has seen strong interest from residents for the remaining 179 flats under the Atal Apartment Scheme. The draw is scheduled to take place around April 14, and officials have posted the final list of applicants on the LIT website. Some applicants, however, have been asked to submit pending documents. The LIT received approximately 1,539 applications for the remaining flats—973 from the middle-income group and 566 from the high-income group. Among these, the available flats include 43 high-income group and 136 middle-income group units. Applicants are optimistic that the construction will be completed on time,…

Latest StoriesResidential

Ghaziabad Residents Face 12% Penalty Fear Over Tax Dues

NOIDA: As the current financial year approaches its end, consumers are facing confusion regarding property tax obligations. Mayor Sunita Dayal claims the recent property tax hike has been reversed, while officials from the GMC assert that no such decision has been made. The mayor’s office insists that property taxes will return to their pre-April 1, 2025 levels. Meanwhile, consumers who have not settled their taxes are worried about facing a 12% penalty on their outstanding property tax dues after March 31. Raj Shekhar, a resident of Kavinagar, expressed frustration, stating, “This issue has been ongoing for a year. The mayor…

Latest StoriesResidential

One Lakh Houses to be Ready for Beneficiaries by March 31

HYDERABAD: Telangana Housing Minister P Srinivas Reddy announced on Wednesday that over 100,000 houses built under the Indiramma housing scheme will be distributed to beneficiaries by March 31, with an additional 100,000 to be completed by June. Responding to a query during the Legislative Assembly’s Question Hour, the minister revealed that the first phase saw the approval of 450,000 houses statewide, including 12,000 specifically for the Chenchu community and tribal residents under the Integrated Tribal Development Agency (ITDA). “By March 31, approximately 112,000 Indiramma houses are expected to be completed, with housewarming ceremonies planned. Under Chief Minister Revanth Reddy’s leadership,…

InfrastructureLatest Stories

Bengaluru Apartments Illegally Dump Sewage into Lake

Representative image BENGALURU: The Karnataka State Pollution Control Board (KSPCB) has issued show-cause notices to six apartment complexes and an educational institution in Anekal for polluting Shikaripalya Lake. The affected properties include Sarovar Apartment, Shree Nandana Elite Apartment Residents Welfare Association, Sree Balaji Nest Apartment, Thirumala Residency Apartment Residents, Happy Home Vivasvan Resident Association, Happy Home 2, and Zia Academy. According to KSPCB, these apartments and the institution lack sewage treatment plants, resulting in domestic sewage being discharged directly into the lake. The Board identified several contributing factors to the pollution of Shikaripalya Lake, including sewage flowing through stormwater drains,…

IndustryLatest Stories

Puravankara to Launch 30 Projects Worth ₹55,000 Crore Soon

NEW DELHI: Puravankara is set to unveil 30 residential projects in the next 24 months across South India and Mumbai, aiming for a gross development value (GDV) exceeding ₹55,000 crore. The forthcoming pipeline encompasses around 51.14 million sq ft of developable space. Most projects are currently in the approval phase, while others are still in design, with approvals expected to commence shortly. This expansion occurs amidst consistent demand in the residential market. For the first three quarters of FY26, the company reported pre-sales of ₹3,859 crore and customer collections totaling ₹3,045 crore. Ashish Puravankara, the managing director, remarked, “As we…

CommercialLatest Stories

Godrej Industries Unit Acquires ₹365 Crore Office in Vikhroli

MUMBAI: Godrej Seeds and Genetics Ltd, part of the Godrej Industries Group’s agri-business sector, has purchased office space across three floors in a commercial tower in Mumbai’s Vikhroli area for a total of Rs 366 crore. The acquisition includes office spaces on the 6th, 7th, and 8th floors of Godrej One, indicating a consolidation of real estate assets within the group. The total carpet area involved in this deal is 70,361 sq ft, with an effective rate of approximately Rs 52,000 per sq ft, as per property registration documents from Propstack, a real estate analytics platform. The transaction was completed…

IndustryLatest Stories

UltraTech Cement Resolves JAL Dispute, Redeems ₹1,000 Crore Shares

UltraTech Cement has reached a resolution with Jaiprakash Associates (JAL) regarding a long-standing arbitration issue, agreeing to redeem ₹1,000 crore in preference shares associated with the Dalla Super cement facility, according to sources familiar with the matter. This agreement paves the way for monetizing Jaypee assets following a bankruptcy court’s recent approval for the Adani Group to take control of JAL. The Adani Group has proposed to pay ₹14,535 crore to acquire the bankrupt JAL in the insolvency process, although the group has not yet completed payments to creditors. The settlement with UltraTech’s flagship cement division is expected to lessen…

Latest StoriesResidential

50% Property Tax Discount for Women Owners in Pune

PUNE: Smaller property owners expecting tax concessions from the civic administration, as promised by political leaders, continue to wait. During the Pune Municipal Corporation (PMC) budget announcement, no general tax waiver for properties up to 500 square feet was mentioned, contrasting with the policies of the Brihanmumbai Municipal Corporation (BMC). The Bharatiya Janata Party (BJP) had included a tax waiver in its manifesto for the recent civic elections. However, the PMC has only offered a 50% discount for small properties, and this benefit applies exclusively to properties owned by women. Civic activists have deemed this announcement a betrayal of public…

Latest StoriesRegulatory

Visakhapatnam’s property tax collects over ₹510 crore

VISAKHAPATNAM: The Greater Visakhapatnam Municipal Corporation (GVMC) has set a record in property tax collections, exceeding ₹510 crore for the fiscal year 2025-26, a full eight days before the accounts close. This outstrips last year’s collection of ₹500 crore, with officials optimistic about reaching ₹600 crore by March 31, thanks to a 50% interest waiver on outstanding dues provided by the state government. Of an additional ₹80 crore in demand, ₹50 crore has already been collected this year. Deputy Commissioner (Revenue) S Srinivasa Rao mentioned that the waiver will lessen the burden on taxpayers and enhance collections. “We expect to…