Category: Latest Stories

Access daily updates on all real estate sectors including residential, commercial, retail, and infrastructure. Stay ahead with market trends, policy changes, investment news, and expert analysis from across the globe.

Latest StoriesRegulatory

Delhi Court Sends Ocean Seven Chief to 14-Day ED Custody in PMAY Scam

NEW DELHI: On Friday, a Delhi court granted the Enforcement Directorate (ED) a 14-day custody of Swaraj Singh Yadav, the director of Ocean Seven Buildtech Pvt Ltd (OSBPL) in Gurugram, over an alleged money-laundering case. Yadav was presented before Additional Sessions Judge Shefali Barnala Tandon around 2:25 am following his arrest related to money laundering tied to the Pradhan Mantri Awas Yojana (PMAY), a flagship initiative by the Union government. The agency explained that Yadav was brought to the judge’s residence at this unusual hour due to constitutional mandates requiring arrestees to be produced within 24 hours. Launched on June…

IndustryLatest Stories

UP Government Provides Stamp Duty Break for Lease Agreements

LUCKNOW: The stamp and registration department is introducing substantial concessions on stamp fees for rent agreements up to 10 years, simplifying the registration process. The cabinet approved this proposal on Friday. Currently, registration exists, but many landlords and tenants skip it due to high costs. Agreements that remain unregistered lack legal validity under the UP Regulation of Urban Premises Tenancy Act, making them prone to disputes. Finance Minister Suresh Khanna noted that while current regulations require registration for tenancy deeds over one year, most are either verbal agreements or, when written, remain unregistered. “These situations often arise during audits by…

IndustryLatest Stories

Odisha Govt Launches New Law to Streamline Land Management

Representative AI image PURI: The state government is set to launch a new Odisha Land Management Act aimed at simplifying land-related processes throughout the state. This announcement came from Revenue Minister Suresh Pujari during a review meeting at the Puri Circuit House on Thursday. The forthcoming legislation aims to replace several outdated revenue laws, providing citizens with a streamlined approach to managing land records and mutations through their local tehsildars. “The current land laws contain numerous outdated and complicated provisions that lead to unnecessary delays and bureaucratic obstacles,” Minister Pujari stated. In conjunction with the new act, the government will…

Latest StoriesResidential

Pune: 1.3 Lakh Property Owners Excluded from Tax Amnesty

PUNE: The Pune Municipal Corporation (PMC) has announced a ban on 1.38 lakh property owners who are repeat defaulters from participating in the property tax amnesty scheme. This decision follows concerns raised by citizens’ groups regarding some property owners who continuously default on their taxes while exploiting the amnesty benefits. The current scheme grants a 75% discount on penalties for unpaid property taxes. “Actions are underway to ensure that only legitimate beneficiaries obtain benefits from the schemes. Property owners who have previously availed of the scheme will not be eligible for it again,” stated Ravi Pawar, head of PMC’s property…

Latest StoriesResidential

Mysuru to Boost Ward-Wise E-Khata Issuance Drive

MYSURU: The Mysuru City Corporation (MCC) is set to enhance its e-khata property document initiative on a ward-wise basis to ensure all 2,27,883 properties in the city are covered. Currently, e-khatas have been issued to 61,117 property owners. To achieve full coverage, the civic body will launch awareness campaigns across all wards. After the chief minister kick-started the statewide initiative, Mysuru City Corporation achieved a milestone in e-khata distribution among civic bodies, with Mysuru district leading in overall issuance. Out of the total 2,27,883 properties, the MCC has successfully distributed 61,117 e-khatas after processing applications and collecting necessary taxes. This…

InfrastructureLatest Stories

HYDRAA Faces 700 Cases After Protecting 1,000 Acres

Here’s a rewritten version of the provided content: — HYDERABAD: The Hyderabad Disaster Management and Asset Protection Agency (HYDRAA) has successfully protected over 1,000 acres of public land and water bodies valued at around Rs 55,000 crore. However, it is currently facing an overwhelming wave of legal challenges. In just 15 months since its formation, HYDRAA has been subjected to nearly 700 lawsuits, primarily from alleged encroachers and land grabbers contesting its demolition and anti-encroachment efforts. Notably, Commissioner AV Ranganath is himself confronting 31 contempt petitions. Officials indicated to TOI that many petitioners are employing high-profile lawyers from Delhi, reportedly…

Latest StoriesResidential

Lucknow Offers 10% Tax Exemption for Rooftop Solar Homes

Representative AI image LUCKNOW: Households equipped with solar rooftops now qualify for a 10% exemption on residential house and water taxes. This initiative is part of key proposals concerning city development, sanitation, and public order, which were adopted in the LMC executive committee meeting held on Thursday. The session, chaired by Mayor Sushma Kharkwal, included municipal commissioner Gaurav Kumar, executive vice-president Charanjeet Gandhi, and other senior officials. To promote renewable energy under the PM Surya Awas Yojana, the committee approved a 10% tax exemption for property owners who install solar panels. Officials indicated that this measure aims to motivate residents…

InfrastructureLatest Stories

Draft rules simplify basement and parking norms in Bengaluru

BENGALURU: The state government has proposed significant amendments to Bengaluru’s building regulations under the Revised Master Plan (RMP) 2015, with the aim of facilitating legal construction for homeowners with smaller plots without compromising valuable space. The proposed draft simplifies setback requirements, eases basement regulations, and modernizes parking guidelines — changes that officials claim will streamline compliance and curb unauthorized constructions. “When regulations are overly complicated or impractical, individuals tend to resort to illegal constructions. By simplifying the guidelines, we support small-plot owners who cannot afford to sacrifice buildable space while promoting better ventilation and adherence to legal standards,” stated Tushar…

IndustryLatest Stories

Hubtown’s Q2 FY26 Profit Surges to ₹32 Crore

NEW DELHI: Hubtown Ltd, a real estate company, reported a 65% increase in consolidated net profit for the September quarter, reaching Rs 31.67 crore, driven by higher income. The net profit in the same period last year was Rs 19.20 crore. According to a regulatory filing from the Mumbai-based firm, total income increased to Rs 263.29 crore in the second quarter of this fiscal year, compared to Rs 139.31 crore in the corresponding quarter of the previous year. “We observed significant progress in our ultra-luxury and premium residential projects,” stated Vyomesh Shah, Managing Director and Co-Founder of Hubtown Ltd. Shah…

Latest StoriesRegulatory

Noida Authority Seals 3 Lotus Panache Towers Over ₹700 Cr Dues

Representative image NOIDA: The Noida Authority has sealed three under-construction towers and 10 commercial outlets at the Lotus Panache project in Sector 110 due to unpaid dues totaling Rs 703 crore and illegal construction without proper building plan approval. The action targets the project’s developer, Granite Gate Properties Pvt Ltd. This project, covering 1.6 lakh sqm and approved for 31 towers with 4,018 housing units, has faced scrutiny over violations. Last year, the Authority had already sealed three towers from the same project for similar issues. Earlier this year, the developer, currently in insolvency proceedings, approached the Allahabad High Court.…