Category: Latest Stories

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InfrastructureLatest Stories

Hubballi-Dharwad to target buildings without required parking

DHARWAD: The Hubballi-Dharwad Municipal Corporation (HDMC) is taking action against violations of building regulations related to parking in commercial and residential structures across the twin cities. During a general body meeting on Friday, Mayor Jyothi Patil emphasized the urgency of addressing these issues to accommodate Hubballi and Dharwad’s future growth. The Corporation will undertake a review of completion certificates (CC) issued to commercial and residential developments in the last five years. Properties found lacking designated parking spaces may face demolition of unauthorized basement structures, especially those used for commercial purposes, to create parking facilities. This initiative was prompted by concerns…

IndustryLatest Stories

Pimpri Chinchwad Offers Amnesty Scheme Until March 31

PUNE: The Pimpri Chinchwad Municipal Corporation has introduced an amnesty scheme for property tax defaulters to recover outstanding dues and enhance revenue for the last month of the 2025-26 financial year. During a press conference, Mayor Ravi Landge announced that a 90% penalty waiver on principal tax arrears would be provided as part of this scheme. Taxpayers who settle their entire outstanding amount in one payment from March 1 to 31 will benefit from this offer. A senior official from the PCMC reported that approximately 2.12 lakh property owners collectively owe Rs 1,394 crore to the municipal body, with potential…

IndustryLatest Stories

Defaulters Pay ₹27 Lakh in Property Tax Before Bengaluru Auction

BENGALURU: Following the announcement of an auction for defaulters’ properties by the Greater Bengaluru Authority’s South city corporation, approximately 14 property owners in Bommanahalli hastily settled their long-standing dues, leading to a recovery of over ₹27 lakh. The impending threat of public auction seems to be motivating defaulters to pay off their arrears prior to bidding on their properties. This comes on the heels of seven properties being successfully sold in a recent auction held by the East and North city corporations. All five city corporations are moving forward with auctions targeting top tax defaulters as a final attempt to…

Latest StoriesResidential

Record Prices for Kukatpally Housing Board Plots and Flats

HYDERABAD: The auction conducted by the Telangana Housing Board for open plots in Kukatpally Housing Board (KPHB) on Friday witnessed an astonishing sale of land, with a square yard fetching a record price of ₹2.65 lakhs, surmounting the set upset price of ₹1.30 lakhs per square yard. A total of four open plots in Phases I and II of Dharma Reddy Colony, along with eight flats in Sampoornam Apartment, Phase-15 of KPHB, were auctioned. While the highest price per square yard reached ₹2.65 lakhs, another plot sold for ₹2.41 lakhs per square yard. In a similar vein, a flat in…

IndustryLatest Stories

Delayed Policy Execution Hinders Investment: NAREDCO Chair

INDORE: Delays in the implementation of urban development policies are hindering growth and discouraging private investments, stated Dr. Niranjan Hiranandani, Chairman of NAREDCO, during a discussion on Friday. He highlighted issues related to master planning and stamp duty structures in Madhya Pradesh. “If policies are passed but executed with delays, development will stagnate and investments will decline,” he explained, noting that uncertainty in planning frameworks adversely affects capital flow into real estate and infrastructure. He pointed out that the Development Plan for Bhopal expired in 2005 and a revision is still pending. Similarly, Indore’s master plan expired in 2021. “This…

CommercialLatest Stories

Executive Centre Secures 200,000 Sq Ft in HITEC City, Hyderabad

The Executive Centre India has secured a lease for 200,000 sq ft of premium office space in the Avance Business Hub (H09), HITEC City, Hyderabad, from Phoenix Infocity Private Limited. This agreement, formalized in a lease deed on February 6, 2026, and registered on February 20, 2026, highlights the growing need for flexible workspaces in major IT hubs across India, according to documents from Propstack. The lease encompasses the third and fourth floors (office levels 8 and 9) of the warm-shell condition building in Gachibowli Village, Serilingampally Mandal. With a base rent of ₹110 per sq ft per month, the…

CommercialLatest Stories

SBI Acquires 1.35 Lakh Sq Ft Office in Navi Mumbai

MUMBAI: The State Bank of India (SBI), the country’s largest lender, has secured approximately 135,000 square feet of office space across six floors in a commercial tower located in Navi Mumbai’s Airoli area through a long-term lease. This space will serve as the bank’s global IT center. The agreed rent is Rs 125.05 per square foot per month, amounting to a monthly expense of over Rs 1.68 crore. Importantly, this rent includes fit-outs, ensuring the space will be ready-to-use, thus minimizing initial capital costs and expediting the operational setup. As part of the lease agreement, SBI has made a security…

Latest StoriesRegulatory

NBCC to Seek Supreme Court RERA Exemption for 11 Supertech Projects

NEW DELHI: State-owned NBCC is preparing to approach the Supreme Court for an exemption from RERA registration, as 11 out of the 16 Supertech projects it is required to manage will need additional funding, according to sources familiar with the situation. The Supreme Court recently upheld an NCLAT ruling requiring NBCC to complete 16 housing projects managed by the financially troubled Supertech Limited. However, upon review, NBCC identified that funds would need to be reallocated to finish these projects, which is not permitted under RERA regulations. “The NCLT lacks the authority to grant RERA exemptions, which are crucial for delivering…

Latest StoriesRegulatory

Bombay HC Orders Developer to Withdraw Anticipatory Bail Plea

MUMBAI: The Bombay High Court has admonished a developer for approaching it while his anticipatory bail application was still under consideration at the Dindoshi Sessions Court, emphasizing that he should seek relief from the appropriate forum first. The court instructed the accused to promptly withdraw his anticipatory bail petition from the High Court and to pursue options available in the Sessions Court. Justice N.R. Borkar was hearing the bail plea from Housecon developer Mansukh Shah, who, along with his son Akash Shah, has been charged by the Economic Offences Wing (EOW). They allegedly induced a businessman to invest ₹5.15 crore…

IndustryLatest Stories

Chandigarh Forms New Panel for Rehabilitation Colony Decisions

CHANDIGARH: The Chandigarh administration has established a new committee to assess the future of approximately 35,000 housing units in the city’s rehabilitation colonies. This decision comes as residents continue to demand ownership rights and disputes over illegal transfers and occupancy persist. The committee is tasked with evaluating the current status of these properties, examining the legal framework that governs them, and reviewing approaches taken by other cities to deal with similar issues within rehabilitation schemes. Chief Secretary H Rajesh Prasad confirmed the committee’s formation and has instructed them to submit their findings promptly. The administration will make its final decision…