Category: Latest Stories

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IndustryLatest Stories

Ghaziabad Extends Property Tax Rebate for Another Month

GHAZIABAD: The Ghaziabad Municipal Corporation has extended the property tax rebate deadline by an additional month, allowing residents to take advantage of a 20% rebate until October 31. This deadline was initially set for July and was previously extended to September. A GMC official stated that the extension aims to maximize revenue from property taxes. “Following October, the rebate will decrease by 10%, which will be available for another month in November 2025. In December and January 2026, the rebate will be reduced to 5%. After that, no rebates will be offered, and those failing to pay property tax after…

IndustryLatest Stories

Last Chance for Property Tax Rebate, Mayor Urges Action

LUDHIANA: The deadline for a significant property tax discount is fast approaching in this industrial hub of Punjab. City officials are urging residents to complete their payments by September 30 to receive a 10% rebate. Mayor Inderjit Kaur and Municipal Commissioner Aaditya Dachalwal made a joint appeal on Monday, encouraging residents to take advantage of this discount period for the current financial year (2025-26). They emphasized that timely payments are crucial for maintaining essential services and executing development projects throughout the city. Incentives and Penalties The 10% rebate is only applicable to payments made for the current financial year if…

Latest StoriesRegulatory

SC calls Bhubaneswar development body on certificate issuance

BHUBANESWAR: The Supreme Court has summoned the Bhubaneswar Development Authority (BDA) to explain the controversial occupancy certificate (OC) issued for Odisha’s first public-private partnership (PPP) real estate project. The project, initiated by the Odisha State Housing Board (OSHB), is currently facing legal and regulatory issues that raise serious questions about compliance and governance in the state’s real estate landscape. As per the case details, the project has been embroiled in a lengthy legal battle due to alleged fraudulent activities and regulatory failures. A timeline of events shows numerous missteps and disputes. In 2018, the builder started handing over possession without…

Latest StoriesRegulatory

Tenants Could Face ₹50,000 Fine for Illegal Subletting

BENGALURU: The Karnataka state government has announced major changes to the Rent Control Act of 1999, decriminalizing rental disputes while significantly increasing penalties, which may rise from 900% to 2,500%. The cabinet approved these amendments last week, and they will be presented during the winter session of the legislature in Belagavi. The amendments aim to align the state legislation with the central government’s Jan Vishwas Act, 2025, which decriminalizes minor offences while implementing penalties and warnings. Imprisonment clauses of up to one month related to rental disputes between tenants and landlords will be eliminated. Under the new amendments, penalties for…

IndustryLatest Stories

KSH INFRA & WSB to Build 50-Acre Logistics Park in Bengaluru

NEW DELHI: KSH INFRA, in collaboration with WSB Real Estate Partners (WSB) and co-investors, is set to develop a 50-acre industrial and logistics park in Hosur, Bengaluru. The total investment of ₹450 crore for KSH Hosur Park I includes ₹180 crore in equity, with the remainder funded through bank construction loans. Launched last year, the park is expected to create 1.25 million sq ft of space and generate employment for over 1,800 individuals. KSH INFRA and WSB have formed an asset-level joint venture, where WSB and co-investors hold a 74% stake, while KSH INFRA retains 26%. Both parties are also…

Latest StoriesRera

Rajasthan RERA Website Offline During Key Property Season

JAIPUR: The Real Estate Regulatory Authority (RERA) of the state has experienced significant technical issues over the past month, rendering its website inoperable. This has hindered both homebuyers and developers from verifying property statuses for potential purchases. The timing of this glitch is particularly inconvenient for buyers wanting to invest during the festive season, which is traditionally seen as an auspicious time for property transactions. Many are left unable to determine whether housing projects are officially RERA-registered. Since August 28, the portal has only displayed information on past projects, with new listings being completely inaccessible. Ankur Tiwari, a hopeful homebuyer,…

IndustryLatest Stories

Sahara Seeks SC Approval for Asset Sale to Adani Properties

NEW DELHI: Sahara India Commercial Corporation Ltd (SICCL) has approached the Supreme Court for permission to sell various properties, including Amby Valley in Maharashtra and Shahara Saher in Lucknow, to Adani Properties Private Limited. The petition, mentioned for hearing recently, is expected to come up on October 14. In the plea filed by advocate Gautam Awasthi, it states, “..to outright sell various properties belonging to the Sahara Group to Adani Properties Private Limited under the terms outlined in the term sheet dated September 6, 2025.” The interlocutory application, filed in ongoing matters concerning the Sahara Group, outlined the challenges faced…

Latest StoriesResidential

Housing Board Raises Circle Rates for Two Ghaziabad Townships

GHAZIABAD: The UP Housing Board has announced an increase in circle rates for the Vasundhara and Siddharth Vihar townships, igniting concerns over property prices and affordability for many residents. Effective retroactively from April 1 for the 2025-26 financial year, the newly revised rates will affect both current homeowners and potential buyers, with increases ranging between Rs 7,000 to Rs 9,000 per sqm across residential and commercial sectors compared to the previous fiscal year. In Vasundhara, which is organized into 19 sectors and has a large population, circle rates for plots in odd-numbered sectors such as 1, 3, and 5 have…

IndustryLatest Stories

Nagpur: 862 Acres to Be Removed from Kamptee Defence Zone

NAGPUR: The proposed excision plan for the Kamptee Cantonment aims to release nearly 862 acres from military control, making it available for real estate development subject to the Yerkheda Nagar Panchayat’s approvals. The draft proposal, submitted by the cantonment board to the state government on April 16, is currently awaiting a response. Sources indicate that the Ministry of Defence (MoD) will make the final decision once the state government replies. The defence land begins about midway along the Nagpur-Kamptee Road and extends to the midpoint of the Kanhan River. The intent is to remove significant areas from military jurisdiction outside…

CommercialLatest Stories

WeWork India sets ₹615-648 price band for ₹3,000 crore IPO

NEW DELHI: WeWork India has set a price band of Rs 615 to Rs 648 per share for its Rs 3,000 crore initial public offering (IPO), scheduled to launch on October 3 and conclude on October 7. Bidding for anchor investors will start on October 1. At the upper end of the pricing, the company’s valuation is approximately Rs 8,685 crore. This IPO consists entirely of an Offer-for-Sale (OFS) of up to 4.63 crore equity shares, with the promoter group, Embassy Buildcon LLP, and investor Ariel Way Tenant Ltd (a part of WeWork Global) relinquishing their shares. Embassy Group currently…