Category: Latest Stories

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Latest StoriesRegulatory

Bengaluru’s five corporations collect ₹2,949.56 crore in tax

BENGALURU: The East City Corporation has been recognized as the top performer in property tax collection, while the North City Corporation is at the bottom of the rankings. As of June 9, the Greater Bengaluru Authority (GBA) reported that its five city corporations collectively gathered ₹2,949.56 crore in property tax and additional revenues, which is 44.02% of their annual goal of ₹6,700 crore for the 2026-27 fiscal year. The East City Corporation led the way with collections amounting to ₹792.51 crore, achieving 47.35% of its target of ₹1,673.46 crore. The West City Corporation made a significant recovery from being the…

InfrastructureLatest Stories

Kochi Metro Phase II Delayed: New Launch Set for August 2027

KOCHI: The ambitious Phase II project of Kochi Metro, which will connect Jawaharlal Nehru (JLN) Stadium to Infopark via Kakkanad, is now expected to be completed by June 2027, over a year and a half later than the previously promised December 2025 commissioning. Kochi Metro Rail Ltd (KMRL) stated that the official commissioning and final testing of the project will occur in August 2027. A significant cause of this delay is the state government’s prolonged approval process for securing external funding of Rs 1,116 crore from the Asian Infrastructure Investment Bank (AIIB). The agency noted, “The financing process required approvals…

Latest StoriesResidential

Pimpri Chinchwad’s PCMC Tax on Amenities Sparks Outrage

PUNE: Residents of various housing societies in Pimpri Chinchwad are protesting the civic authorities’ decision to charge property tax on amenity spaces in residential complexes. They argue that this decision adds to the financial strain on residents already facing increased maintenance costs. Recently, several societies received property tax bills ranging from Rs 1 lakh to Rs 5 lakh for common areas like clubhouses, swimming pools, libraries, and society offices. Residents claim that property tax has historically only applied to individual residential units and that common areas should not be taxed separately. Representatives from housing societies expressed surprise at this new…

Latest StoriesRegulatory

Sambhajinagar to Create Cell for Recovering Property Tax Dues

CHHATRAPATI SAMBHAJINAGAR: The Chhatrapati Sambhajinagar Municipal Corporation (CSMC) is establishing a dedicated cell to recover outstanding property taxes from 493 government entities, totaling approximately Rs 30 crore. During a review meeting on Monday evening, Municipal Commissioner Amod Yedge announced that the new cell will facilitate swift recovery actions through rigorous follow-ups with defaulting establishments. While the full list of defaulters has not been released, officials indicated that it could be disclosed if payments are not made. Yedge evaluated tax assessments, progress in recovery campaigns, and other pending dues during the meeting. He cautioned officials from Zones 9 and 4 for…

Latest StoriesResidential

Punjab to draft relief policy for unauthorized colonies: CM

CHANDIGARH: Chief Minister Bhagwant Mann announced on Wednesday that the Punjab government is developing a policy aimed at assisting those who invested their savings in unauthorized colonies. He noted that numerous residents across Punjab have been adversely affected by fraudulent developers who sold illegal properties, leaving them with legal and infrastructure challenges. “Thousands of innocent families invested their life savings into these plots, only to find themselves unable to sell the land or secure registrations. They are also lacking basic amenities such as electricity, water, and sewer connections. These individuals are victims and deserve justice,” Mann stated. “Fraudulent developers misled…

Latest StoriesRegulatory

ED Probes Jalandhar Businessman’s Properties Further

JALANDHAR: The Enforcement Directorate (ED) continued its search on Wednesday at the offices and home of Amit Bajaj, a local contractor linked to municipal projects and known to have ties with the Aam Aadmi Party (AAP). Bajaj is reportedly involved in various projects for the Jalandhar municipal corporation and other government initiatives. The searches are part of an ongoing money laundering investigation related to Hampton Sky Realty Ltd, a firm allegedly associated with former Punjab minister Sanjeev Arora and his family, with Arora having been arrested by the ED last month. According to ED sources, operations were conducted at six…

Latest StoriesResidential

Gurugram Man Arrested for Defrauding 242 Home Buyers

GURUGRAM: The Economic Offences Wing of Haryana Police has apprehended a 33-year-old man, Anubhav Bhardwaj, for allegedly defrauding individuals under the guise of providing flats in a housing society located in Sector 55. Bhardwaj, who resides in Mohan Garden, Delhi, was taken into custody on June 8 at Delhi Airport, reportedly while preparing to travel to Indonesia. A lookout circular had been issued against him last year. Authorities reported that a case was initiated at the Sector 56 police station following a woman’s complaint. She claimed she was persuaded by her husband’s former colleague, Ishpal Bhardwaj, to invest in a…

Latest StoriesRegulatory

NGT Urges UP to Investigate Noida Realty’s Water Illegality

NOIDA: The National Green Tribunal has instructed the state groundwater department to investigate reports of illegal groundwater extraction by real estate developers in Noida and Greater Noida. The tribunal has also mandated that appropriate remedial and punitive measures be taken if any violations are identified. This directive followed a petition from activist Vikrant Tongad, who claimed that builders are excessively dewatering for deep excavations associated with high-rise constructions. The department has been tasked with completing this investigation within three months. The order was issued on May 27, responding to Tongad’s application filed earlier this year, which highlighted unauthorized groundwater extraction…

InfrastructureLatest Stories

Delhi’s 2041 Plan: Fast Trains and New Townships Ahead

NEW DELHI: The National Capital Region’s Regional Plan 2041 proposes the establishment of up to eight new greenfield townships along with a high-speed transport network aimed at facilitating travel between Delhi and key NCR cities within 30 minutes. This draft plan, which will be reviewed during the NCR Planning Board (NCRPB) meeting on June 16, sets out a long-term strategy for decentralized urban expansion by creating new economic and residential hubs in Uttar Pradesh, Haryana, and Rajasthan. The initiative highlights the need for new settlements to be self-sustaining and furnished with modern civic infrastructure, taking cues from leading smart city…

Latest StoriesRegulatory

NCLT Admits Insolvency Case from 176 Raheja Revanta Buyers

GURUGRAM: The principal bench of the National Company Law Tribunal (NCLT) has admitted an insolvency petition from 176 homebuyers of Raheja Developers’ Revanta project in Sector 78. The tribunal found a prima facie case of default, noting the developer failed to deliver possession despite significant payments made by the allottees. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) by Surinder Aggarwal and 175 other allottees who collectively hold 99 units in the luxury residential project. They reported that they had paid over Rs 137 crore for their flats, with many having settled up to…