Category: Latest Stories

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Latest StoriesResidential

Kanpur: 20 Arrested for Fraud in Fake PMAY Scheme

KANPUR: A significant cybercrime ring operating in a Jamtara-style has been uncovered in the Reuna village of Ghatampur, leading to the arrest of 20 gang members accused of defrauding applicants of the Pradhan Mantri Awas Yojana. Meanwhile, 17 accomplices are still at large, prompting ongoing efforts to locate them. Police Commissioner Raghubir Lal reported that the operation was initiated after receiving multiple complaints via the National Cyber Crime Reporting Portal. Acting on a tip-off, a police team proceeded to Reuna village where suspicious cyber activities were observed, resulting in the immediate arrest of 20 individuals. The police revealed that the…

Latest StoriesRegulatory

Gujarat’s stamp duty, registration revenue rises 30% to ₹19,000 crore

GANDHINAGAR: Gujarat’s revenue from stamp duty and registration fees surged by 30% year-on-year, reaching Rs 19,102.58 crore in 2025-26, an increase of nearly Rs 4,400 crore from Rs 14,706 crore in 2024-25, as per official statistics. During the financial year that ended on March 31, 2026, 18.95 lakh property documents were registered, compared to 18.77 lakh the previous year. This slight uptick in registrations, along with significant revenue growth, indicates that the registered properties had a higher value than in the prior year. Sources in the real estate sector and officials highlighted that the increase is partly due to the…

Latest StoriesResidential

40% of Belagavi Property Owners Miss Tax Payments

BELAGAVI: A troubling trend is emerging in Belagavi city, where nearly 40% of property owners have not settled their property tax dues for the 2025-26 financial year, raising crucial concerns about both revenue recovery and administrative efficiency. According to insiders at the Belagavi City Corporation (BCC), the city has 166,178 registered properties. Out of these, property tax dues have only been cleared for 95,829 properties. This includes defaulters from various sectors, such as private residences, businesses, educational institutions, and even government establishments. Despite assertions of financial discipline and efforts to enhance revenue collection, BCC only gathered ₹70.8 crore in property…

Latest StoriesResidential

Rising Costs and GST Impact Hyderabad’s Gated Communities

HYDERABAD: Residents in gated communities throughout the city are grappling with increased financial pressure this year, as surging maintenance costs have pushed many into the 18% GST tax bracket. For the fiscal year 2026-27, monthly maintenance fees have escalated significantly, now falling between Rs 8,000 and Rs 10,000. This spike is attributed to rising expenses including security personnel salaries, electricity bills, clubhouse maintenance, common facilities, and water supply systems. Previously, many residents paid around Rs 6,000 to Rs 7,000 per month, comfortably below the Rs 7,500 threshold that triggers GST. However, the latest increase has altered the situation. According to…

Latest StoriesResidential

After 15 Years, JAL Homebuyers Rely on Adani’s Housing Plan

Homebuyers waiting for possession of properties booked with Jaiprakash Associates Limited (JAL) 15 years ago are hopeful for a swift resolution. This comes after the Supreme Court declined to stay the implementation of the Adani Group’s debt resolution plan of ₹14,500 crore. The homebuyers’ association expressed concern over the prolonged legal proceedings and urged the Adani Group to complete the projects as promised in the resolution plan. Mateen Wani, a retired government employee from Jammu & Kashmir who booked a plot in Jaypee Sports City years ago, stated, “Many buyers have been paying both EMI and rent for years with…

IndustryLatest Stories

IBBI Panel Recommends Project-Based Insolvency for Real Estate

A panel formed by the insolvency regulator has recommended that bankruptcy proceedings focus solely on distressed projects of a real estate developer, rather than encompassing the entire company. This approach aims to allow solvent or unrelated ventures within the same developer to continue operating, benefiting many homebuyers involved in stable projects while hastening the resolution process for stressed ones. The panel stated that proceedings under the Insolvency and Bankruptcy Code (IBC) should typically be initiated on a project-by-project basis, treating each as an independent economic unit. This recommendation comes from the panel established by the Insolvency and Bankruptcy Board of…

Latest StoriesResidential

Delhi RWAs raise concerns over mixed-use development

NEW DELHI: Numerous Resident Welfare Associations (RWAs) are expressing concerns about the potential chaos that could result from the rollout of the new Transit-Oriented Development (TOD) policy. This policy allows for mixed-use developments on plots adjacent to metro corridors and within a 500-metre radius of RRTS stations and railway lines, regardless of the plot size or current land designation. While it requires that 65% of the plot area be allocated for residential use, residents are doubtful regarding the enforcement of these guidelines. Members of the Save Our City campaign highlighted that the Master Plan for Delhi, 2021, which incorporated mixed…

Latest StoriesResidential

Gurugram OC Scam: Buildings Ready but Without Lifts, Parking

GURUGRAM: The occupation certificate (OC) scam in licensed neighborhoods has expanded, as investigations by TOI reveal significant discrepancies between approved documents and actual construction conditions. Buildings listed as completed on paper are nowhere near ready in reality. For instance, two structures—one in South City-2 and another in Sector 61—were found unfinished, missing plaster, lifts, parking, and essential safety features, despite being declared complete under the self-certification system. At a site in South City-2, the building showed exposed bricks, unfinished staircases, and no installed lifts. Workers were still plastering interiors, with loose electrical wiring hanging from the walls, even though the…

IndustryLatest Stories

Prestige Estates’ Pre-Sales Surge 76% to ₹30,024 Crore in FY26

NEW DELHI: Prestige Estates Projects Ltd reported a 10% increase in pre-sales, reaching ₹7,697 crore in the fourth quarter of the previous fiscal year, driven by strong demand for its residential properties. The company’s latest operational update reveals a record pre-sales figure of ₹30,024 crore for the 2025-26 fiscal, marking a 76% rise compared to the previous year. Irfan Razack, Chairman and Managing Director, highlighted the strong year-end, noting consistent sales momentum throughout the year and a solid finish in Q4. He mentioned, “Demand in our key markets has remained positive, and our emphasis on quality, location, and timely delivery…

IndustryLatest Stories

Ashiana Housing Q4 FY26 Pre-Sales Surge 2x to ₹1,290 Crore

NEW DELHI: Sales bookings at Ashiana Housing Ltd have more than doubled to Rs 1,289.70 crore in the fourth quarter of the last fiscal year due to increased demand. In the corresponding period last year, the sale bookings were recorded at Rs 574.73 crore. A regulatory filing on Tuesday revealed that Ashiana Housing achieved a record pre-sales figure of Rs 2,421.47 crore in the last fiscal year, a rise from Rs 1,936.75 crore in 2024-25. “The sales value for the booked area stands at INR 2,421.47 crore (FY’26), marking the company’s highest annual sales to date,” the report stated. During…