Category: Latest Stories

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IndustryLatest Stories

NA Tax Scrapping Awaits GR; Pune Societies Get Notices

PUNE: Nearly a year after the state cabinet’s decision to abolish the non-agricultural (NA) tax in urban areas, housing societies are still awaiting an official government resolution (GR) to confirm the tax exemption. Several societies in Pune and Mumbai have received NA tax notices, leading some to pay the dues to avoid potential administrative actions. The NA tax, rooted in colonial times, is levied on properties built on agricultural land converted for non-agricultural use within municipal limits, excluding gaothan (village) areas. The cabinet’s decision to abolish this tax was made last October, but the law and judiciary department has delayed…

InfrastructureLatest Stories

Delhi Fire Dept. Requests Revised Plan for GPRA Colony

NEW DELHI: The Delhi Fire Services (DFS) has denied approval for building plans concerning the General Pool Residential Accommodation (GPRA) colony in Sarojini Nagar due to significant violations of the National Building Code (NBC). Officials indicated that the project developer must address the identified issues and present revised plans. The Sarojini Nagar GPRA initiative is part of a broader redevelopment plan encompassing seven government colonies in south Delhi, designed for both residential and mixed-use purposes. The fire department’s findings highlighted multiple issues concerning building accessibility, fire exits, hydrant placements, and the width of escape routes. “The proposal could not be…

Latest StoriesRegulatory

ED Seizes ₹12 Crore Assets of Sahiti Infratec in ₹842 Crore Scam

HYDERABAD: The Enforcement Directorate’s Hyderabad zonal office has seized movable and immovable assets valued at ₹12.6 crore belonging to Sahiti Infratec Ventures India Private Limited (SIVIPL), its ex-director Sandu Purnachandra Rao, his family, and related entities under the Prevention of Money Laundering Act. This action was prompted by various FIRs filed by the Telangana police against SIVIPL and its promoters, following complaints from investors who claim they were defrauded of ₹842 crore. The investors were promised residential properties that were never delivered. The ED uncovered that SIVIPL raised substantial amounts without the necessary approvals from the Real Estate Regulatory Authority…

InfrastructureLatest Stories

441 Hectares from 18 Villages Officially Join YEIDA

Representative Image NOIDA: YEIDA has successfully completed the transfer of ownership for approximately 441 hectares across 18 villages in Jewar, previously held by 3,695 farmers. Although compensation and residential plot allocations were made, the land had not been officially registered under YEIDA’s name, resulting in illegal sales and cultivation activities. This initiative is part of YEIDA’s overarching strategy to safeguard its assets and ensure that land acquired for public projects is secured against misuse. Officials noted that the failure to update land records created opportunities for irregularities, including illegal sales, land mortgaging, and unauthorized cultivation on plots already acquired by…

Latest StoriesResidential

Haryana: Builders required to reserve 15% flats for EWS

Representative image GURUGRAM: The state government has unveiled a new policy for allocating plots and flats to Economically Weaker Sections (EWS) within licensed colonies, superseding the 2021 guidelines. The revised policy mandates that developers allocate 20% of plots and 15% of flats for EWS beneficiaries. This policy is applicable to all licensed residential colonies across the state, including plotted and group housing projects approved by the Town and Country Planning (TCP) Department. It encompasses major urban areas such as Gurgaon, Faridabad, Panchkula, Sonipat, Panipat, Rohtak, Hisar, and Karnal, along with newly licensed townships and sectors developed under the Haryana Development…

Latest StoriesResidential

Owners Demand Overhaul of Karnataka Apartment Ownership Act

BENGALURU: Despite consistent reminders from home buyers and residents’ welfare associations regarding the need for a new apartment act, the state government has yet to prepare the crucial draft, even after two years. Home buyers are urging Karnataka to update the Karnataka Apartment Ownership Act of 1972, which they view as outdated and ambiguous regarding the rights and responsibilities of flat owners. Dhananjaya Padmanabhachar, representative of the Karnataka Home Buyers Forum, reached out to IT and BT Minister Priyank Kharge, urging him to encourage Chief Minister Siddaramaiah to expedite the development of a new apartment act. The goal is to…

IndustryLatest Stories

Mumbai Builders Meet Civic Chief to Address Real Estate Issues

Representative image MUMBAI: In a significant step, leading developers and architects from organizations like CREDAI-MCHI, NAREDCO, BDA, and PEATA met with municipal commissioner Bhushan Gagrani on Friday. They addressed challenges hindering the real estate sector. The civic chief announced the establishment of a steering committee that will include representatives from these organizations and BMC officers from various departments. This committee will convene bi-weekly to tackle sector-related issues. As per a press release, meetings will be led by Chandrashekhar Undage, the deputy chief engineer in the commissioner’s office. “The commissioner has assured us of his attendance at these meetings monthly. This…

Latest StoriesResidential

Delhi: 1,537 Flats Available in DDA Scheme

Representative image NEW DELHI: The Delhi Development Authority (DDA) is set to launch Phase II of the Jan Sadharan Awas Yojana on November 11, providing 1,537 affordable housing options for low-income groups (LIG) and economically weaker sections (EWS) across the city. The available flats are located in several of Delhi’s developing residential areas, including Shivaji Marg (Moti Nagar), Ramgarh Colony near Jahangirpuri Metro Station, and Rohini Sectors 34 and 35 along the Urban Extension Road–II. There are also units in Narela, Sector G6–G7, Pocket 11, close to the intended Rithala–Narela–Kundli Metro corridor. Starting at 12 PM on November 11, interested…

Latest StoriesRegulatory

NCLAT Accepts Late Buyers’ Claims in Today Homes Insolvency

NOIDA: In a significant decision for homebuyers, the National Company Law Appellate Tribunal (NCLAT) has ruled that legitimate allottees, whose payments are recorded in a builder’s accounts, cannot be denied their entitlements solely due to late claim submissions during an ongoing insolvency process. The appellate tribunal, led by Justice Ashok Bhushan, issued the order on October 17, overturning a previous ruling from the National Company Law Tribunal (NCLT) principal bench, which had dismissed the claims of 20 homebuyers as “time-barred” concerning the insolvency proceedings of Today Homes Noida, the developer behind the Ridge Residency project in Sector 135. Justice Bhushan’s…

Latest StoriesResidential

Lucknow development body extends discount on ready-to-move flats

Representative image LUCKNOW: The Lucknow Development Authority (LDA) has extended its special Diwali discount on ready-to-move flats until November 6. This festive season, 589 flats have already been booked, while 1,100 ready-to-move flats remain available for buyers. Under this offer, buyers can receive discounts ranging from Rs 1 lakh to Rs 2 lakh, in addition to existing incentives. LDA Vice-Chairman Pratimesh Kumar explained, “The ready-to-move flats are available on a ‘First Come-First Serve’ basis. A generous discount offer was introduced from September 22 to October 22. Flats priced between Rs 20 lakh and Rs 50 lakh will receive Rs 1…