Category: Latest Stories

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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…

Latest StoriesRegulatory

Maharashtra Forms SIT to Investigate Land Issues in Sambhajinagar

CHHATRAPATI SAMBHAJINAGAR: The state government has established a Special Investigation Team (SIT) to conduct a thorough and unbiased inquiry into various significant land-related complaints in the Chhatrapati Sambhajinagar district. Led by the divisional commissioner of Chhatrapati Sambhajinagar, the SIT will scrutinize major land transactions that are surrounded by serious allegations. During the recent state budget session, concerns regarding alleged land misappropriation in gut number 30 at Brijwadi, near Chhatrapati Sambhajinagar, were raised. In response, Revenue Minister Chandrashekhar Bawankule assured that an SIT would be formed to investigate various land complaints in the district. An official release on Wednesday stated, “The…

IndustryLatest Stories

IPO Surge Among Developers Shows Improved Governance, Needs Careful Expansion: Brigade Group’s Founder

File Photo NEW DELHI: India’s residential real estate market is experiencing a robust post-pandemic uptrend, characterized by a noticeable shift towards premium offerings, enhanced affordability, and increased buyer ambitions, according to M. R. Jaishankar, founder and executive chairman of Brigade Group. However, he emphasizes that the most enduring demand lies within the mid-income and mass housing segments. In an exclusive interview with Ankit Sharma, Jaishankar expressed optimism about the sector’s long-term trajectory, supported by rising incomes and economic growth. He stressed the necessity for developers to exercise restraint in their expansion plans and called for a reassessment of the affordable…

Latest StoriesRegulatory

Uttarakhand HC Halts HRDA’s Plotting on Agricultural Land

DEHRADUN: On Wednesday, the Uttarakhand High Court instructed the Haridwar-Roorkee Development Authority (HRDA) to revoke its permission for plotting and group housing on agricultural and orchard land within a week. A division bench comprising Chief Justice Manoj Kumar Gupta and Justice Subhash Upadhyay was hearing a public interest litigation (PIL) alleging that the development authority was flouting previous High Court and Supreme Court rulings. They warned that non-compliance could lead to contempt proceedings. The PIL, filed in 2023 by Haridwar resident Atul Kumar Chauhan, referenced a High Court order from June 19, 2018, which prohibited such developments on agricultural and…