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Latest StoriesRegulatory

SC Upholds Insolvency Cases for Greater Noida Real Estate Firms

NEW DELHI: The Supreme Court has reaffirmed the commencement of corporate insolvency proceedings against Bhasin Infotech and Infrastructure Private Limited, as well as Grand Venezia Commercial Towers Private Limited, emphasizing the protection of homebuyers and commercial allottees. A bench led by Justices Sanjay Kumar and K. Vinod Chandran dismissed appeals from the former directors, including Satinder Singh Bhasin. The court found that the developers had failed to deliver functional units and had misled the court regarding project completion. The justices rejected the appellants’ claims that construction was fully complete and that possession was granted to some allottees, stating that such…

IndustryLatest Stories

Mahindra Lifespace Q3 FY26 Net Profit at ₹108.88 Crore

NEW DELHI: Mahindra Lifespace Developers (MLDL) has announced a net consolidated profit after tax of ₹108.88 crore for the quarter ending December 31, 2025. This is in contrast to a loss after tax of ₹22.47 crore recorded in the same quarter last year, as stated in their BSE filing. The total net consolidated income for Q3 FY26 reached ₹469.08 crore, reflecting an impressive increase of 152.51% from ₹185.77 crore in the corresponding quarter of the prior fiscal year. As of December 31, 2025, MLDL reported a net worth of ₹3,534.70 crore, with a debt-equity ratio of 0.19, a current liability…

Latest StoriesResidential

Pune Proposes 10% Property Tax Hike, Citizens Challenge It

PUNE: The Pune Municipal Corporation (PMC) has proposed a 10% property tax increase aimed at enhancing revenue. The standing committee is set to discuss this proposal in a meeting on Monday; currently, it comprises only civic officials due to the absence of a new general body of elected corporators. Citizens’ groups and activists are opposing this move, advocating for the administration to prioritize the recovery of dues from defaulters instead. “There are numerous large tax defaulters. Revenue generation is achievable if their dues are collected,” stated Prashant Badhe from Aple Pune, Apala Parisar, a citizens’ group. Vivek Velankar of Sajag…

Latest StoriesResidential

Secunderabad Cantonment Proposes Ward-wise Tax Arrears Recovery

HYDERABAD: Residents of Ward-8 in Secunderabad Cantonment submitted a proposal on Sunday targeting tax arrears recovery to senior cantonment and defense estate authorities. The proposal advocates for more stringent enforcement of overdue house tax collections in compliance with the Cantonments Act of 2006. Addressed to the CEO of the Secunderabad Cantonment Board, the Principal Director of Defense Estates (Southern Command, Pune), and the Director General of Defense Estates, New Delhi, the proposal aims to address ongoing revenue collection challenges from residential property owners by establishing a systematic ward-level enforcement mechanism. The initiative includes bi-weekly enforcement drives in each ward, entailing…

IndustryLatest Stories

Haryana’s Affordable Housing Scheme Stalled by Rising Costs

GURUGRAM: There is an increasing demand to reassess Haryana’s affordable housing policy, as stakeholders report that the initiative has nearly come to a standstill in Gurugram and Faridabad due to escalating land and construction costs, according to an official. Officials from the Town and Country Planning (TCP) Department noted that no new licenses for affordable housing projects have been issued in Gurugram in the last one-and-a-half to two years. Furthermore, the Gurugram-Manesar Master Plan area has not witnessed any new affordable housing developments during this time, casting doubt on the policy’s effectiveness. Currently, the government has set the maximum sale…

Latest StoriesResidential

Chennai Residents Fight Ban on Building Permits Near Marsh

CHENNAI: Thoraipakkam residents demonstrated on Saturday along 200-Feet Road, opposing the CMDA’s decision to suspend building permits within a 1km radius of the Pallikaranai marshland. The Federation of Thoraipakkam Residents Welfare Associations stated that this restriction significantly impacts owners of approved plots and patta lands across various localities along the OMR-IT corridor. More than 200 residents joined the protest, urging the state government to reconsider the circular and protect the rights of individuals who purchased approved housing sites. Protesters called for the removal of encroachments in the marshland instead of enforcing restrictions on already approved residential areas. “Around 1 lakh…

IndustryLatest Stories

Karnataka Home Minister Orders Probe into Confident Group Chair’s Suicide

Sure! Here’s a rewritten version of your content: BENGALURU: On Saturday, Karnataka Home Minister G Parameshwara announced that authorities are investigating the circumstances surrounding the death of Confident Group chairperson C J Roy, who reportedly committed suicide in his office while Income Tax officials were present. Parameshwara shared with reporters that the Income Tax Department had previously conducted searches at Roy’s firm and was in the process of finalizing necessary protocols. “Last December, there was a raid at his company. According to regulations, a charge sheet must be filed within 60 days in court. The need for finalization was urgent,…

IndustryLatest Stories

Budget 2026: Govt to Speed Up CPSE Real Estate via REITs

“Over the years, REITs have emerged as a successful instrument for asset monetisation. I propose to accelerate recycling of significant real estate assets of CPSEs through the setting up of dedicated REITs,” said FM. In her Union Budget address on February 1, Finance Minister Nirmala Sitharaman proposed to hasten the monetisation of real estate assets owned by central public sector enterprises (CPSEs) via dedicated Real Estate Investment Trusts (REITs), aiming to unlock capital in established public assets. “Over the years, REITs have emerged as a successful instrument for asset monetisation. I propose to accelerate recycling of significant real estate assets…

Latest StoriesResidential

Bengaluru Buyers Complain of Double Tax on Corner Site Development

Representative AI Image BENGALURU: Some allottees are finding that a few extra square meters can almost double their property tax based on the BDA’s current policy. Owners of irregularly-sized plots argue that the existing slab-based rates unfairly penalize them, despite their properties using the same facilities as standard plots. They maintain that only the excess area should be taxed at a higher rate, yet the current system applies the increased rate across their entire site. For the past five years, concerns have been raised by allottees regarding a 2016 BDA resolution on vacant-property taxation, which they deem flawed. Owners of…

IndustryLatest Stories

Budget 2026: REITs, Land Relief, and City Growth Boost Real Estate

File photo NEW DELHI: Finance Minister Nirmala Sitharaman presented the Union Budget 2026–27 on February 1, unveiling a series of initiatives designed to enhance capital recycling, simplify tax compliance, and accelerate urban infrastructure development, benefiting the real estate and construction sectors substantially. A major highlight was the government’s plan to fast-track the monetization of central public sector enterprise (CPSE) real estate assets through specialized Real Estate Investment Trusts (REITs). Sitharaman noted that REITs have proven to be an effective tool for asset monetization, which would aid in recycling mature public assets, while also generating consistent revenue and unlocking funds for…