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Latest StoriesRegulatory

HC Orders Reinspection of Stormwater Drains near Apartments

BENGALURU: The high court has instructed the Bruhat Bengaluru Mahanagara Palike (BBMP), now known as the GBA, to reassess lands in Gubbalala village, Bengaluru South taluk, where two apartment complexes are located. This comes after a government-commissioned expert committee reported encroachments into stormwater drains. In his ruling, Justice R Nataraj stated that if the petitioners suggest an alternative drain alignment, the GBA must review it to ensure the unobstructed flow of water into Subramanyapura Lake, while also considering the interests of adjacent landowners. The judge added that should the petitioners fail to submit an alignment proposal within 15 days from…

IndustryLatest Stories

Jharkhand Housing Board Warns Dhoni Over Plot Misuse

File Photo RANCHI: The Jharkhand State Housing Board has sent a notice to former India cricket captain Mahendra Singh Dhoni regarding the alleged misuse of a residential plot in Ranchi, according to an official statement made on Friday. The notice accuses Dhoni of using the plot, which was allocated for residential purposes, for commercial activities. “A residential plot was allotted by the Jharkhand State Housing Board to cricketer Mahendra Singh Dhoni, but it has been found to be used for commercial purposes. We have issued a notice to him for violating the rules and regulations,” said Sanjay Lal Paswan, chairman…

Latest StoriesResidential

AP CM vows housing for all poor by 2029

AMARAVATI: Andhra Pradesh Chief Minister N. Chandrababu Naidu announced on Friday that his government is committed to providing housing for all the poor by 2029. He plans to allocate housing plots for those without land. In his address to the Assembly, Naidu urged eligible beneficiaries who have yet to receive a house to apply. He assured that both the central and state governments would shoulder the responsibility of housing for all. “We are dedicated to constructing homes for all the poor by 2029 and providing housing plots to those who lack land,” Naidu stated, emphasizing the government’s goal to house…

InfrastructureLatest Stories

Goa: 50% Land Conversions Under Planning Act in 5 Villages

Representative AI image PANAJI: Over 530 hectares (53 lakh sqm) of land have been designated for settlement under Section 39A of the Goa Town and Country Planning Act, as per the compiled data on all proposals approved across the state. This significant reclassification, primarily from agricultural and natural lands to settlement areas, demonstrates that a measure intended for minor adjustments has evolved into a methodical erosion of Goa’s ecological integrity. Notably, over 51% of the land converted under Section 39A is concentrated in just five villages, highlighting a pronounced geographic development pressure. The data clearly indicates that most of this…

InfrastructureLatest Stories

Crackdown on Illegal Floors, Offices, Colonies in Pataudi

GURUGRAM: On February 25th, illegal constructions were sealed and three unauthorized colonies were demolished in the Pataudi subdivision during an enforcement operation led by the town and country planning department, with police support. Officials explained that the actions were in response to complaints regarding unauthorized plotting in the city’s peripheral urban areas. The operation included the sealing of an illegal floor at Enkay Town Plaza in Palam Vihar, initiated by a complaint submitted through the CM Window grievance portal. Additionally, an unauthorized office operating within the Brisk Lumbini club, located in Sector 109, was also sealed for violating approved land…

Latest StoriesResidential

Shraddha Kapoor Renews Juhu Apartment Lease for ₹6 Lakh/Month

MUMBAI: According to property registration documents reviewed by Square Yards on the Inspector General of Registration (IGR) website, Shraddha Kapoor has renewed her apartment lease in Mumbai’s Juhu area for a starting monthly rent of ₹6 lakh. The lease renewal, registered in February 2026, pertains to a unit in Prime Beach, Juhu, covering approximately 365 sq metres (around 3,929 sq ft), which includes four car parking spaces. The lease term is set for 12 months, totaling a rental value of ₹72 lakh for the duration. The transaction involved a stamp duty payment of ₹36,000 and registration charges of ₹1,000. Previously,…

Housing FinanceLatest Stories

IIFL Home Finance Gets $300M Loan from Asian Development Bank

NEW DELHI: IIFL Home Finance (IIFL HFL) has secured a $300 million syndicated external commercial borrowing (ECB) facility from the Asian Development Bank (ADB). The financing package consists of $150 million from ADB, along with another $150 million through parallel loans from MUFG, Emirates Bank, Sampath Bank, and Hatton National Bank. ADB served as the mandated lead arranger and bookrunner for this deal. This is IIFL HFL’s inaugural syndicated ECB facility. The funds will be allocated to provide home loans to women in low-income communities in peri-urban and urban areas, especially in economically disadvantaged states. Over 25% of the loan…

Latest StoriesRegulatory

Mangaluru Launches Campaign to Enhance Property Tax Collection

Representative AI image MANGALURU: The Mangaluru City Corporation (MCC) has initiated a campaign aimed at enhancing property tax collection to boost revenue. A campaign vehicle was launched recently to facilitate drives for collecting overdue payments. MCC Commissioner Ravichandra Naik announced that the Self-Assessment Scheme (SAS) property tax will experience a 3% increase in accordance with government regulations. He urged residents to pay their property taxes punctually each year. The MCC raises property tax annually by 3% based on the market value set for 2023-24. For the fiscal year 2025-26, as directed by the administrator and Deputy Commissioner Darshan HV, this…

Latest StoriesResidential

Soaring Land Prices Drive Visakhapatnam’s Vertical Housing Boom

Representative AI image VISAKHAPATNAM: The surge in land prices and a limited supply of well-located plots have prompted a transformation in the city’s residential landscape. Developers are increasingly favoring high-rise constructions—ranging from 40 to 50 stories—over low-rise structures of 5 to 15 floors. As new investments flood into Vizag, land costs in prime areas have soared to a point where low-rise developments are typically no longer feasible. Vertical housing offers buyers lower per-square-foot prices (₹1,000–₹1,500 less) and superior amenities compared to standalone buildings. High-rise development enhances land-use efficiency, ensuring projects remain economically viable. Developers cite the necessity of distributing high…

Latest StoriesRegulatory

Navi Mumbai collects ₹650 crore in property tax; 62% paid online

Representative AI image NAVI MUMBAI: The Navi Mumbai Municipal Corporation (NMMC) has collected ₹650 crore in property taxes so far this financial year, with a marked increase in digital payments. The tax was paid by 182,894 out of 360,000 property owners, with 62% opting for digital methods, totaling ₹383 crore, while the remaining 38% paid ₹267 crore offline. NMMC facilitated payments via UPI, QR codes, debit/credit cards, net banking, NEFT/RTGS, and IMPS. In its effort to achieve a target of ₹1,000 crore by March 31, NMMC has issued notices and seized properties from several defaulters. While some taxpayers reported issues…