Category: Latest Stories

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Latest StoriesRegulatory

ED Charges Five with Laundering ₹36.66 Crore from Sand Mining

PATNA: The Enforcement Directorate (ED) has lodged a prosecution complaint in the Special PMLA Court in Patna against Arun Yadav, Kiran Devi, Rajesh Kumar Ranjan, and Dipu Kumar, as well as their company, Kiran Durga Contractors Pvt Ltd, for money laundering. This case centers around substantial illegal funds generated primarily through unauthorized sand mining in Bihar, alongside corruption and related criminal activities. The investigation commenced following multiple FIRs filed by Bihar Police and the Special Vigilance Unit alleging various offenses, including cheating, extortion, illegal sand mining, and possession of assets disproportionate to their lawful income. During the inquiry, the ED…

Latest StoriesRegulatory

Nashik Civic Body Gathers ₹272 Crore in Property Tax FY26

NASHIK: The Nashik Municipal Corporation (NMC) has achieved a record property tax collection of Rs 272 crore in the financial year 2025-26, marking the highest amount in its 43-year history. Officials anticipate an additional Rs 10-15 crore to be collected in the remaining 21 days of the fiscal year. The target set for property tax collection was Rs 270 crore. Officials cited a significant boost from the 15-day amnesty scheme for tax defaulters, conducted from February 23 to March 9, which generated Rs 46 crore in outstanding dues. “During this period, over 13,000 defaulters cleared arrears totaling Rs 45 crore…

InfrastructureLatest Stories

UP allocates ₹425 crore for townships in 8 cities

LUCKNOW: The Uttar Pradesh government has allocated ₹425 crore for the development of new townships in eight major cities. Under the Chief Minister’s New Township Scheme, development authorities submitted proposals for funding to the state government. This allocation will act as seed capital for townships in Bareilly, Varanasi, Orai, Chitrakoot, Banda, Pratapgarh, Ghazipur, and Mau. The initiative aims to promote organized development in response to the rapidly expanding urban population and to offer improved housing options for residents. The government will provide up to 50% of the costs related to land acquisition as seed capital, available for a maximum duration…

Latest StoriesRegulatory

Maharashtra: New Stamp Duty Penalty Starts January 1

PUNE: The increased penalty of ₹1 lakh for executing property documents without adequate stamp duty will be effective from January 1, 2026. An official from the Inspector General of Registration (IGR) office confirmed this on Monday, stating, “The amendment was notified on December 31, 2025, and will be enforced starting January 1, 2026. Any case registered concerning a shortfall in stamp duty post this date will be subjected to the revised penalty.” During the Maharashtra Budget presentation for 2026-27 on March 6, Chief Minister Devendra Fadnavis emphasized this change, proposing an increase in the penalty from the existing ₹5,000 to…

Latest StoriesResidential

Ownership Verification Required Before Property Registration in UP

LUCKNOW: On Tuesday, the Cabinet made a significant decision regarding property sales registration, mandating the stamp and registration department to verify property ownership details prior to registration. Ravindra Jaiswal, the Minister of State (Independent) for Stamp and Registration, stated that new rules will soon be established to require verification of ‘khatauni’ (land records) and ownership documents before registration, aiming to eliminate fraudulent or contested land registrations. “We have encountered multiple instances where properties are sold by individuals who are not the legitimate owners, including prohibited or restricted properties, properties sold beyond legal ownership rights, and even those owned by the…

IndustryLatest Stories

Chandigarh Proposes Clearer Property Categories and Penalties

CHANDIGARH: Significant reforms are set to be introduced to regulate building violations and property misuse in Chandigarh, with the administration proposing structured penalties, clearer property definitions, limits on fines, and increased administrative authority to tackle persistent urban development enforcement issues. These changes will be implemented through amendments to the Capital of Punjab (Development and Regulation) Act, 1952, which will include new definitions in Section 2 of the Act categorizing residential, commercial, institutional, and other property types. A residential building is defined as any building utilized or modified for human habitation, including all associated garages and out-buildings. Commercial buildings encompass any…

Latest StoriesRegulatory

High-Priced Homes Out of Reach for Middle Class: Punjab HC

CHANDIGARH: The Punjab and Haryana High Court has raised grave concerns regarding the skyrocketing costs of residential plots and flats auctioned by government development agencies in the Tricity—Chandigarh, Panchkula, and Mohali—asserting these prices have made home ownership unattainable for middle-class and salaried professionals. The court has instructed the governments of Haryana, Punjab, and UT Chandigarh to develop a proposal aimed at addressing affordable housing, suggesting alternatives like lottery systems for all societal segments, including the salaried and middle class. “It seems that state authorities have begun prioritizing profit, abandoning the common citizen. The auction prices for residential properties are exorbitant,”…

Latest StoriesRegulatory

Cops File Second Chargesheet Against Radius Estates’ Promoter

MUMBAI: Authorities have filed a chargesheet against Sanjay Chhabria, the promoter of Radius Estates and Developers Pvt Ltd, for allegedly defrauding Yes Bank of ₹30.39 crore by misappropriating funds designated for a redevelopment initiative. In 2018, Chhabria secured a ₹50-crore overdraft for the Mhada redevelopment project “X BKC.” However, ₹30.39 crore of that amount was improperly redirected to related enterprises, such as Radius Enterprises and Sea Fuss Realty, rather than being utilized for the project’s intended purpose. According to the approval letter from April 2018, these funds were meant to address the project’s working capital needs and cash-flow discrepancies. Investigators…

Latest StoriesResidential

Uttar Pradesh Cabinet Greenlights Affordable Housing Policy

LUCKNOW: On Tuesday, the state cabinet approved a new policy to implement affordable housing initiatives under the Pradhan Mantri Awas Yojana-Urban 2.0, including affordable housing in partnership (AHP) and affordable rental housing (ARH) components. The initiative aims to provide accessible housing for middle-income and economically weaker sections of society. Beneficiaries will receive financial aid of Rs 1.5 lakh from the Centre and Rs 1 lakh from the state government. Additionally, developers of approved projects will benefit from exemptions on land-use change charges, map approval fees, and external development fees. Beneficiaries will also enjoy reduced stamp duty rates. Under the ARH…

InfrastructureLatest Stories

Cabinet Approves ₹3,630.77 Cr for Jewar Airport Road Connectivity

NEW DELHI: On Tuesday, the Cabinet approved a revised total capital expenditure of ₹3,630.77 crore for the development of road connectivity to the forthcoming Jewar International Airport in Uttar Pradesh. The proposed 31.42-kilometer corridor will offer direct, high-speed connections from South Delhi, Faridabad, and Gurugram to the airport, boosting economic growth and logistics efficiency across the National Capital Region (NCR), according to an official statement. The Cabinet Committee on Economic Affairs (CCEA), led by Prime Minister Narendra Modi, has endorsed a revised budget of ₹3,630.77 crore for creating greenfield connectivity to the airport via the Delhi-Faridabad-Ballabhgarh-Sohna Spur of the Delhi-Mumbai…