Category: Latest Stories

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IndustryLatest Stories

Hyderabad: ₹100 Crore Tax Evasion by 1 Lakh Property Owners

HYDERABAD: The financially struggling Greater Hyderabad Municipal Corporation (GHMC) has discovered over one lakh property owners who have collectively avoided paying over Rs 100 crore in taxes by undervaluing their properties for several years. This was revealed during a GIS-based survey conducted by the GHMC between August 2024 and December 2025, utilizing drone imagery and high-resolution mapping. As part of the survey, over six lakh properties were assessed. The data indicated that most of the under-assessed properties are located in Serilingampally, Chandanagar, Moosapet, Kukatpally, and LB Nagar circles—areas characterized by rapid urban development, high-rise buildings, and increased commercial activity over…

IndustryLatest Stories

Hyderabad: 1 Lakh Owners Evaded ₹100 Crore in Taxes, GHMC Reports

HYDERABAD: The financially challenged Greater Hyderabad Municipal Corporation (GHMC) has identified over 100,000 property owners who collectively evaded taxes exceeding Rs 100 crore due to prolonged under-assessment of their properties. This discovery was made during a GIS-based survey conducted from August 2024 to December 2025, utilizing drone imagery and high-resolution mapping. More than six lakh properties were evaluated as part of this survey. The results indicated that most under-assessed properties are located in rapidly urbanized areas such as Serilingampally, Chandanagar, Moosapet, Kukatpally, and LB Nagar, all of which have seen significant commercial and residential development in recent years. An official…

Latest StoriesRegulatory

Delhi: FIR Filed for ₹200 Crore Property Fraud in South Extension

NEW DELHI: The Delhi Police have filed an FIR against a businessman for alleged forgery, cheating, and conspiracy related to a fraudulent sale of a prime property located in South Extension, valued between Rs 150-200 crore, according to an official statement on Tuesday. As per the FIR lodged on January 22, the complainant, Dhruv Jalan, a businessman and resident of Gurugram, claims the property in question—a plot exceeding 2,292 square yards in South Extension Part-I—was originally allotted to his grandfather, Amar Chand Jalan, in 1958. Jalan asserts that he became the sole owner of the property through a will in…

Latest StoriesRegulatory

Noida HC Upholds RERA Relief for Gaur City Centre Buyers

NOIDA: The Lucknow bench of the Allahabad High Court has dismissed four appeals from Gaursons Hi-Tech Infrastructure concerning shop-buyer disputes related to the Gaur City Centre project in Greater Noida West. The court declined to intervene with the favorable orders issued by the UP-Rera and the Real Estate Appellate Tribunal (REAT) for the buyers. The court noted that the developer failed to provide reasonable diligence in approaching the court, with reasons cited for delays deemed “bald, unsupported, and unsatisfactory,” in some cases showing a “careless and reckless” attitude. This ruling enables the execution of RERA orders. In judgments delivered on…

IndustryLatest Stories

Delhi Villages Demand Relief from House Tax, Urban Rules

NEW DELHI: A combined delegation from the Delhi Panchayat Sangh and Palam 360 Village Khap met with MCD Standing Committee Chairperson Satya Sharma on Tuesday, requesting the repeal of house tax and other urban regulations affecting villages in the national capital, as stated in their announcement. The delegation submitted a memorandum advocating for the exemption of all Delhi villages from house tax, conversion charges, parking fees, and other municipal taxes. They argued that these fees impose an unfair financial burden on rural residents whose livelihoods and living conditions significantly differ from those in urban settings. The group emphasized that villagers…

IndustryLatest Stories

Maharashtra May Boost RR Rate in April Amid Rising Debt

PUNE: According to senior officials in the revenue department, purchasing a flat may become more expensive in the upcoming financial year. There is a suggestion of a potential increase in Ready Reckoner (RR) rates this April due to a growing revenue deficit and rising debt associated with welfare initiatives such as the Ladki Bahin Yojana. Discussions with stakeholders at the district level are currently ongoing, and a final decision will depend on the funding required for infrastructure projects, welfare programs, and recently introduced incentives. “Given the increasing revenue deficit and significant supplementary demands, a revision in RR rates appears to…

CommercialLatest Stories

HERE Solutions Leases 210,000 Sq Ft in Airoli, Navi Mumbai

Representative Image HERE Technologies’ India division has secured over 2.1 lakh sq ft of office space in Mindspace Airoli West (Gigaplex) through a long-term lease exceeding 10 years. The lease agreement was made with Gigaplex Estate Pvt Ltd, the owner of the Mindspace Airoli West (Gigaplex) complex. The office space spans three floors (4th, 8th, and 9th) and commenced on December 20. The total leased carpet area is 145,983 sq ft, while the chargeable area amounts to 208,547 sq ft. Monthly rent is set at Rs 71 per sq ft on the chargeable area, according to realty data analytics platform…

CommercialLatest Stories

Mindspace REIT Q3 FY26 NOI Rises 28.7%

NEW DELHI: Mindspace Business Parks REIT has reported a 28.7% year-on-year increase in net operating income (NOI), reaching ₹6,714 million in Q3 FY26. The board of directors at K Raheja Corp Investment Managers, overseeing Mindspace REIT, announced a distribution of ₹3,780 million for Q3 FY26. The distribution per unit (DPU) is ₹5.83, reflecting a year-on-year growth of 9.6% and a 12.5% rise in DPU for the first nine months of FY26. Ramesh Nair, CEO and MD, stated, “We achieved gross leasing of 1.1 million sq ft, with committed occupancy increasing sequentially to 94.5%. This operational success has led to strong…

InfrastructureLatest Stories

Maharashtra Cabinet Approves Metro Linking Mumbai, Navi Mumbai Airports

MUMBAI: The Maharashtra Cabinet Infrastructure Committee has approved a 35-km Metro project aimed at linking the Mumbai and Navi Mumbai international airports with a budget exceeding Rs 22,000 crore. The corridor will feature 20 stations: 6 underground and 14 elevated. The land acquisition for the project will cover 30.7 hectares and is estimated to cost Rs 388 crore, as per a statement from the Chief Minister’s Office. The committee, a high-level ministerial group, has sanctioned the Metro Line 8 project, projected to cost Rs 22,862 crore. Chief Minister Devendra Fadnavis has instructed that all land acquisition and necessary approvals for…

CommercialLatest Stories

WeWork India Reports ₹16.78 Crore Profit in Q3 FY26

NEW DELHI: WeWork India Management announced a net consolidated profit after tax of ₹16.78 crore for the quarter ending December 31, 2025. This marks a significant recovery from a loss of ₹83.11 crore during the same quarter last year, according to a filing with BSE. The company’s net consolidated total income reached ₹643.81 crore in Q3 FY26, reflecting a robust growth of 26.64% compared to ₹508.37 crore reported in the corresponding quarter last year. The company’s primary business, workspace as a service, accounted for 83.4% of its revenue, while managed offices contributed 21%, value-added services made up 13.5%, and digital…