Category: Latest Stories

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Latest StoriesResidential

Worli Residents Protest SRA’s Plan to Terminate Developer

MUMBAI: Residents of Worli’s Sagar Darshan and Chaitanya Sai Janata Colony SRA Housing Societies protested on Sunday against the Slum Rehabilitation Authority’s (SRA) decision to terminate the current developer. This decision comes just over a year after the issuance of a Letter of Intent (LoI) and amid attempts to appoint a new developer. According to slum tenants, the termination of the LoI granted to Chintaharni Chintpurni Realtors in October 2024 threatens the livelihoods of 2,500 families. Some residents warned that if the SRA proceeds with its plan, they would boycott the upcoming BMC elections. These two slum projects fall within…

Latest StoriesRegulatory

Govt Bodies Owe BMC Over ₹3,000 Crore in Property Taxes: RTI

MUMBAI: Government departments and public agencies owe the BMC over ₹3,000 crore in property tax, with the civic body managing to recover only ₹243 crore in the last five years, according to data disclosed by the BMC under the Right to Information (RTI) Act. The information was revealed in response to an RTI inquiry from civic activist and advocate Godfrey Pimenta, who sought to understand why “honest taxpayers should bear the burden” while government entities fail to fulfill their property tax obligations. The BMC’s reply dated December 12, 2025, indicates that as of October 31, 2025, the property tax arrears…

Latest StoriesRegulatory

Mysuru Local Bodies See Spike in Property Tax Collections

MYSURU: Urban local bodies in Mysuru district, including the Mysuru City Corporation (MCC), have seen a significant rise in property tax collection this financial year. This achievement is mainly due to the introduction of digital payment methods, as well as incentives like a 5% rebate for early payments and proactive door-to-door collection drives. Officials noted that these initiatives have motivated property owners to comply on time, likely leading to substantial collections by the end of this month. In a conversation with TOI, MCC’s deputy commissioner (Revenue), Somashekhar G S, mentioned that regular property tax review meetings every two weeks and…

Latest StoriesRegulatory

Lucknow: Deputy Registrar Nullifies RWA Registration

LUCKNOW: The Deputy Registrar’s office for Firms, Societies, and Chits in Lucknow has annulled the registration of the Celebrity Green F & G Resident Welfare Association (RWA) immediately, citing significant breaches of the Uttar Pradesh Apartment Act, 2010, and the concealment of key facts during the registration process. This decision was made on December 17. The RWA, situated in Celebrity Green, Sector-B, Sushant Golf City, and developed by Ansal API, was registered on July 31, 2023, under the Societies Registration Act, 1860, with a validity until July 30, 2028. A complaint by Sikta Mishra and other residents on October 9,…

Latest StoriesRera

21% of Builders Still Haven’t Filed Gujarat RERA Report

AHMEDABAD: Despite receiving an extension, only 79% of developers have submitted their annual financial reports for 2024-25, as reported by sources from GujRERA (Gujarat Real Estate Regulatory Authority). The authority has put in place a penalty system for developers who fail to adhere to the regulations. Historically, about 80% of developers complied with submitting this Form-5. GujRERA also actively pursues action against non-compliant developers. Each promoter is obligated to have their accounts audited within six months after the financial year ends for every registered project and must upload the annual report in Form-5 to their GujRERA webpage. This year, for…

IndustryLatest Stories

JM AMC Launches ₹1,000-Crore Real Estate Fund in AIFs

NEW DELHI: JM Financial Asset Management Company is enhancing its Alternative Investment Fund (AIF) platform by launching a Rs 1,000 crore early-stage real estate fund to fill the financing gaps in the sector. According to Amitabh Mohanty, MD and CEO of JM Financial Asset Management Ltd, “Our aim is to develop a comprehensive AIF ecosystem that facilitates India’s next wave of enterprise growth. We are formulating thematic strategies that are backed by real assets and focus on non-traditional opportunities,” as reported to PTI. The AIF platform will provide specialized capital pools targeting credit, real estate, and pre-IPO opportunities, he noted.…

IndustryLatest Stories

Keystone Realtors’ ₹3,000 Crore Housing Project in Mumbai Next Month

NEW DELHI: Keystone Realtors, a prominent real estate firm, is set to unveil a super luxury residential project in Mumbai next month, projected to generate approximately ₹3,000 crore in revenue, according to a senior company official. Based in Mumbai, Keystone Realtors operates under the Rustomjee brand and is recognized as one of India’s leading real estate developers. In a recent interview with PTI, Boman Irani, Chairman and Managing Director of Keystone Realtors, expressed a strong optimism regarding housing demand. He is confident that the sales bookings target of ₹4,000 crore for the current fiscal year will easily be met. The…

InfrastructureLatest Stories

Delhi Minister: Strict Action on Construction Ban Violations

NEW DELHI: As air quality in Delhi hovers around the ‘severe’ mark, Environment Minister Manjinder Singh Sirsa announced on Saturday that stringent actions will be taken against polluting industries and anyone breaching the construction ban in the national capital. According to predictions from the India Meteorological Department, a western disturbance is expected to influence Delhi on Sunday, potentially exacerbating the already poor air quality. Currently, GRAP 4 restrictions are enforced citywide. Sirsa noted that authorities are receiving multiple complaints regarding construction activities continuing despite the ban. He warned violators of strict consequences. He instructed all industries in Delhi to adhere…

InfrastructureLatest Stories

Delhi fines construction sites ₹33.95 lakh for GRAP-IV violations

NEW DELHI: The Municipal Corporation of Delhi (MCD) has imposed fines totaling ₹33.95 lakh on construction sites over the last week for breaching guidelines outlined in the Graded Response Action Plan (GRAP) aimed at reducing air pollution, officials announced on Saturday. The MCD stated that construction and demolition activities are strictly banned in Delhi during the GRAP-IV phase, following directions by the Commission for Air Quality Management (CAQM) and orders from the National Green Tribunal (NGT). Enforcement teams from the MCD conducted inspections across all zones, verifying 1,792 construction sites and issuing 771 fines where violations were identified. In November,…