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Latest StoriesRegulatory

Nashik issues notices to 450 property tax defaulters

NASHIK: The Nashik Municipal Corporation (NMC) has issued notices to 450 defaulters, each with property tax dues exceeding Rs 1 lakh, instructing them to pay within 15 days. This decision came after a directive from the municipal commissioner, Manisha Khatri, which aimed to identify major defaulters in each division and enhance recovery efforts. For the current financial year (2025-26), the civic body targets a property tax collection of Rs 270 crore. However, as of February 10, the collection stands at only Rs 215 crore, indicating a shortfall of Rs 55 crore with just over a month and a half left…

InfrastructureLatest Stories

Maharashtra Cabinet Approves ₹6,000 Crore Loan for Purandar Airport

Representative AI image PUNE: On Tuesday, the state government approved a proposal to raise ₹6,000 crore for land acquisition related to the Purandar airport project. Principal Secretary of Industries, P. Anbalagan, informed TOI that the state cabinet has, in principle, approved the funding for the airport. A special purpose vehicle (SPV), already in place, involves CIDCO holding a 51% stake, with MIDC and PMRDA each holding 15%, and MADC holding 19%. The SPV was established earlier to facilitate the greenfield airport project. Anbalagan stated, “It has been decided to raise approximately ₹6,000 crore for acquiring land for the greenfield airport.…

IndustryLatest Stories

Maharashtra Abolishes NA Tax to Boost Redevelopment of Housing Societies

PUNE | MUMBAI: State revenue minister Chandrashekhar Bawankule announced on Wednesday that the non-agricultural (NA) tax has been permanently eliminated, following directives from CM Devendra Fadnavis. This reform comes approximately a year and a half after its initial proposal and is poised to facilitate the redevelopment and regularization of aging housing societies in major urban areas like Pune, Mumbai, and Thane. The notification, issued late Tuesday, revises the Maharashtra Land Revenue Code to abolish the annual NA tax and the necessity for a separate non-agricultural land-use permit from the district collector. “This applies as long as the proposed land use…

CommercialLatest Stories

Gujarat WTC Project Transferred to Allottees for Completion

AHMEDABAD: In an unprecedented decision in Gujarat, a committee led by the chief secretary has resolved to transfer a stalled real estate project to the allottees’ association for its completion. This decision involves the World Trade Center (WTC) in GIFT City, where Towers B and C remain unfinished following the arrest of the project’s original promoter by the Enforcement Directorate (ED) over a fraud case. A group of allottees from Tower B is currently forming an association, while those from Tower C have already established one and are in the process of registering a society, according to sources. The handover…

Latest StoriesRegulatory

Golden Glow Estates in Haryana: Licenses Lapse, Dues Surge

GURUGRAM: The Haryana Department of Town and Country Planning (DTCP) has taken action against a group housing project due to issues with its development licence. The enforcement action pertains to a project located in Badshahpur, Sector 68, after the development licence expired eight years ago and was not renewed. The project currently has outstanding external development charges (EDC) and related dues exceeding Rs 51.8 crore. The DTCP has issued a show-cause notice to Golden Glow Estates, the project’s official licence holder, instructing the district town planner (enforcement) to commence proceedings under Section 10 of the Haryana Development and Regulation of…

Latest StoriesResidential

Bihar asks Centre to release ₹3,000 crore for PMAY-Gramin

PATNA: The Bihar government has requested the Centre to expedite the release of the pending ₹3,000 crore under the Pradhan Mantri Awas Yojana Gramin (PMAY-G), as announced by a state minister during Wednesday’s assembly session. In response to a question, Rural Development Minister Sharwan Kumar explained that the Centre had previously released ₹91 crore in January, which was distributed among PMAY-G beneficiaries without an SNA account. “We faced challenges in establishing an SNA account for fund distribution under PMAY-G. We have asked the Centre to release ₹3,000 crore, allowing us to distribute the funds to beneficiaries without an SNA,” he…

InfrastructureLatest Stories

Over 30 colonies regularised in Jammu, HC stays process: CM

File Photo JAMMU: The regularization of residential colonies in Jammu was initiated earlier, with the Jammu Development Authority having regularized 31 colonies, but this process was later halted by the high court, Chief Minister Omar Abdullah stated on Wednesday. In response to a query from BJP MLA Sham Lal Sharma in the Assembly regarding the regularization of unauthorized colonies, Abdullah, who also oversees the Housing and Urban Development Department, explained that this process adhered to various government directives issued from 1974 to 2009, along with court instructions from 2010. “The regularization of residential colonies in Jammu began previously, and 31…

IndustryLatest Stories

Canara Bank Seeks Bids for ₹577-Crore Housing Loan Sale

MUMBAI: Canara Bank is seeking offers from financial institutions and asset reconstruction companies (ARCs) to sell its ₹577 crore debt concerning the real estate firm Supreme Housing and Hospitality, with a reserve price set at ₹500 crore through a Swiss challenge auction. The Bangalore-based bank has also filed a petition with the Mumbai NCLT to restart insolvency proceedings against the company after a one-time settlement (OTS) proposal in July did not materialize, according to a knowledgeable source. “This debt auction allows the bank to gauge interest from investors while waiting for guidance from the Mumbai NCLT. The company previously made…

InfrastructureLatest Stories

Delhi Approves Metro Phase V Following Centre’s Approval

NEW DELHI: The Delhi government has made a significant advancement in metro expansion plans by approving Phase V(A) of the Delhi Metro project, which includes a critical corridor connecting to the Central Vista, after receiving the necessary clearance from the Centre. Chief Minister Rekha Gupta announced that the estimated cost of Phase V(A) is Rs 12,014.91 crore, which will bolster public transport infrastructure in the national capital, with the Delhi government contributing Rs 2,940.46 crore towards this cost. The decision was made during a Cabinet meeting led by the Chief Minister, aimed at enhancing and modernizing the public transport system…

CommercialLatest Stories

Indiqube Spaces Reports ₹17.06 Crore Net Loss in Q3 FY26

NEW DELHI: Indiqube Spaces has reported a net loss after tax of ₹17.06 crore for the quarter ending December 31, 2025, according to a filing with the BSE. The company’s total net income for Q3 FY26 reached ₹411.09 crore. Rishi Das, co-founder and CEO, stated, “With a healthy EBITDA margin of 21% in Q3 FY26, we are optimistic about continued stability in our margins and anticipate a strong closing for the financial year in Q4.” The debt-to-equity ratio improved to 0.15 in Q3 FY26, down from 0.80 in Q3 FY25. ROCE increased to 23% in Q3 FY26, compared to 15%…