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Latest StoriesRegulatory

Magistrate Court to Hear ₹140 Crore Guruashish Fraud Case

MUMBAI: A special court has transferred the Rs 140 crore cheating and conspiracy case involving Guruashish Construction and its directors to the magistrate’s court. This decision comes after the CBI was unable to provide evidence implicating any public servants. Special judge B.Y. Phad stated, “Since no public servants are included as accused in the chargesheet, this special court lacks the necessary jurisdiction to proceed with the matter or acknowledge the IPC offences against private individuals independently, as none of them fall under the Prevention of Corruption Act.” The investigation into Guruashish Construction, along with Rakeshkumar Wadhwan, Sarang Wadhawan, and Housing…

IndustryLatest Stories

Assotech Realty aims ₹400 crore in FY27; Atmosphere Core targets $400M by 2030

Representative AI image NEW DELHI: Assotech Realty aims to increase its revenue to ₹350-400 crore by FY27. Meanwhile, Atmosphere Core, an international hospitality company, is targeting $400 million in revenue by 2030, following a partnership to develop a hospitality project in Shirdi, Maharashtra. Assotech is set to invest approximately ₹200 crore into the project, which will feature 160 suites of around 45 square meters each, managed by Atmosphere Core through a fee-based agreement. The project aligns with a growing trend of transforming pilgrimage sites into organized tourism hubs, bolstered by enhanced infrastructure, connectivity, and professionally-run hospitality ventures. Neeraj Gulati, managing…

IndustryLatest Stories

Finance Panel Urges Karnataka to Allow Monthly Property Tax EMIs

BENGALURU: The 5th State Finance Commission has put forth a proposal for property tax payments to be made in installments (EMIs) alongside the introduction of amnesty and incentives to motivate property owners to settle outstanding tax dues. The commission’s report, presented in the legislative assembly on Wednesday, dedicates a chapter to reforming property tax to enhance collection efficiency within the city. These recommendations arrive as government officials have initiated drone surveys of properties in the Greater Bengaluru Authority (GBA) to identify tax defaulters. Estimates suggest that dues across GBA’s five corporations reach into the lakhs. Bengaluru is home to 20.5…

IndustryLatest Stories

Indore: 533 Locations to Merge; Rates Could Rise by 200%

INDORE: The district administration and registration department are in the process of consolidating the Collector’s guideline rates for the financial year 2026-27. This involves the rationalization of locations, merging 533 existing ones to streamline property registration. Currently, document registration in Indore spans across 4,840 designated locations. The new proposal aims to consolidate 533 neighboring locations into clusters of 3 to 4 colonies, which would reduce the total number of locations by approximately 350, ultimately targeting a reduction to around 3,000. Senior Registrar Amaresh Naidu mentioned that varying registration rates within the same area lead to technical issues and revenue loss.…

IndustryLatest Stories

Gera Developments Names Rajesh Shirwatkar CFO

Sure! Here’s a rewritten version of your content: NEW DELHI: Gera Developments (GDPL) has named Rajesh Yashwant Shirwatkar as its new Chief Financial Officer (CFO). In this role, Shirwatkar will oversee the company’s financial strategy, planning, compliance, treasury management, and governance. Additionally, Swapan Mukherjee has been promoted to Group Chief Financial Officer. “In this expanded position, he will offer financial oversight at the group level, aiding in the establishment of a solid foundation to foster the company’s growth and expansion,” stated Rohit Gera, Managing Director of the company. Published on Mar 12, 2026 at 04:30 PM IST Join 2M+ industry…

CommercialLatest Stories

Aurum PropTech Sells Navi Mumbai Buildings for ₹112 Crore

NEW DELHI: Aurum PropTech’s board of directors has approved the sale of buildings Q5 and Q6 at Millennium Business Park, Navi Mumbai, for ₹112 crore, which is about 15% higher than the valuation offered by the valuers. The assets hold a book value of approximately ₹27 crore. Upon completion of this transaction, the company aims to eliminate its debt by using the proceeds to prepay a lease rental discounting facility (LRD) amounting to ₹56 crore. The deal is expected to be finalized by June 30, 2026, pending the necessary regulatory approvals. Additionally, the company is planning to transition towards AI-driven…

Latest StoriesResidential

Ludhiana to Collect Property Tax Door-to-Door

LUDHIANA: The Ludhiana Municipal Corporation (MC) is set to launch a groundbreaking “doorstep tax collection” service to address outstanding municipal dues. This new initiative will see civic employees using handheld point of sale (POS) machines to visit residential and commercial properties for on-the-spot tax calculations and collections. This approach shifts to a “service-at-your-door” model, aimed at assisting those who have not managed to settle their dues at MC offices. Smart assessment and real-time tracking The MC has acquired 48 POS machines, distributing 12 units across each of the city’s four zones. While water supply dues are fixed, property tax calculations…

Latest StoriesResidential

Telangana: 412 Velugumatla Families Receive House Pattas

HYDERABAD: Deputy Chief Minister Bhatti Vikramarka announced on Wednesday the construction of a model colony for the underprivileged in Velugumatla, Khammam district, aimed at setting a benchmark for other states. Alongside Housing and Revenue Minister Ponguleti Srinivas Reddy and Agriculture Minister Tummala Nageswara Rao, all from Khammam, the Deputy CM distributed house site pattas and sanctioned Indiramma houses for families affected by the recent demolition drives against encroachments on Bhoodan land in Khammam’s urban mandal. The event took place in Khammam town. While opposition parties claimed that over 700 families were evicted from Bhoodan land, 412 eligible families in Velugumatla…

Latest StoriesRegulatory

Delhi: MCD Seals Keshavpuram Properties Over ₹1.33 Crore Tax Dues

NEW DELHI: On Wednesday, the Municipal Corporation of Delhi sealed two commercial properties in the Keshavpuram zone due to alleged non-payment of property tax dues exceeding ₹1.33 crore, according to an official statement. This action is part of the civic body’s ongoing initiative against property tax defaulters. The properties, situated in Paschim Vihar and the GT Karnal Industrial Area, reportedly had substantial outstanding property tax dues. Despite multiple opportunities provided by the MCD to settle the dues, the property owners did not comply, leading to the initiation of coercive action under the Delhi Municipal Corporation Act. Officials encouraged the property…

Latest StoriesResidential

Prayagraj to Offer House Tax Rebates for Old Buildings

PRAYAGRAJ: The Prayagraj Municipal Corporation (PMC) has approved a 40% house tax rebate for buildings older than 20 years within the urban limits. The decision, made unanimously during a meeting on Tuesday, ensures property owners will automatically qualify for the rebate without any application process. This measure is set to take effect in April 2026. This initiative is expected to aid residents in older neighborhoods such as Kidganj, Daraganj, Rambagh, Bairhana, Chowk, Shahganj, Kareli, Malviya Nagar, Mundera, and Chakia, which contain numerous buildings over two decades old. Additionally, the house authorized a One-Time Settlement (OTS) proposal for significant house tax…