Category: Latest Stories

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Latest StoriesResidential

Rajasthan Halts ‘Patta’ Registrations Amid Long-ignored Issues

JAIPUR: In a significant step to regulate real estate practices, the state government has halted the registration of properties associated with housing society “pattas.” This informal documentation has been the source of countless complaints, legal disputes, and negative audit findings over the years. Sub-registrars are now forbidden from registering plots issued by private housing or cooperative societies, a regulation that experts believe should have been enacted a decade ago. The prohibition aims to address the rise of unauthorized colonies, particularly in Jaipur’s outskirts like Ajmer Road and Kalwar Road, where societies have been selling plots without valid land-use conversions or…

Latest StoriesRegulatory

Nashik Collects ₹196 Crore in Property Tax This Fiscal Year

NASHIK: The civic body has reported an 8% increase in property tax collections for the first eight months of the financial year 2025-26, totaling Rs 196 crore from April 1 to December 4, compared to Rs 181 crore during the same timeframe last year (2024-25). According to officials from the Nashik Municipal Corporation (NMC), the Cidco division led the collections with Rs 42.8 crore, followed by Panchavati at Rs 39.3 crore, Nashik East at Rs 33 crore, and Nashik West at Rs 30.7 crore. The remainder of the collections originated from Nashik Road and Satpur divisions. NMC set a property…

IndustryLatest Stories

Amfi May Label REITs as Equity in January 2026 Rejig

MUMBAI: According to Nuvama Alternative & Quantitative Research, Knowledge Realty Trust (KRT), Embassy Office Parks, Mindspace Business Parks, Nexus Select Trust, and Brookfield may be classified under equity categories in the upcoming reclassification by the Association of Mutual Funds in India (AMFI) scheduled for January 2026. Recently, the Securities and Exchange Board of India (SEBI) redefined Real Estate Investment Trusts (REITs) as ‘equity-related instruments’ to encourage greater participation from mutual funds. If REITs are moved to the equity categories by the mutual fund industry body, KRT and Embassy may be categorized as mid-caps, while Mindspace, Nexus, and Brookfield could be…

Latest StoriesRegulatory

Haryana collects under 1% of ₹45 crore in environment fees

GURUGRAM: The Haryana government has levied over Rs 45 crore in environmental compensation (EC) on more than 400 industrial and commercial entities over the past three years. However, less than 1% of these penalties have been collected. Currently, Rs 44.87 crore remains unpaid, with only around Rs 42 lakh collected in response to penalties for various violations, encompassing illegal mining, dust emissions, unauthorized construction, and untreated wastewater discharge. The overdue EC stems from infractions reported from 2021 to 2024. Despite the limited recovery, many violators have either ceased operations, switched ownership, relocated, or contested the penalties, effectively hindering enforcement efforts.…

IndustryLatest Stories

Amaravati’s Buildings to Feature Unique Designs: AP CM

VIJAYAWADA: Chief Minister N. Chandrababu Naidu announced on Thursday that Amaravati is being developed into a creative city, characterized by unique architecture and lush greenery. While chairing the 55th CRDA Authority meeting, he highlighted that comprehensive studies on architectural standards have been completed for the capital, emphasizing the need for construction speed and quality to go hand in hand. The CRDA Authority approved key projects, including the construction of Lok Bhavan, a governor’s residence complex with a budget of Rs 169 crore. They also sanctioned a Rs 7,380 crore loan from NABARD for infrastructure development in Amaravati. Additionally, tenders worth…

IndustryLatest Stories

RBI Cuts Key Rate to 5.25% Amid Strong GDP and Low Inflation

MUMBAI: On Friday, the Reserve Bank of India announced a reduction of 25 basis points in the policy repo rate, lowering it to 5.25 percent. This decision was shared by RBI Governor Sanjay Malhotra following the conclusion of a three-day Monetary Policy Committee (MPC) meeting that took place from December 3 to 5. The Governor noted that the MPC conducted a comprehensive review of the changing macroeconomic landscape and future forecasts before reaching a unanimous agreement on the rate cut, which takes effect immediately. During the announcement, the Governor stated, “The MPC convened on December 3rd, 4th, and 5th to…

CommercialLatest Stories

Sonu Nigam Leases Mumbai Commercial Unit for ₹19 Lakh/Month

NEW DELHI: Sonu Nigam has rented a commercial space in Trade Centre BKC, Santacruz East, Mumbai, at a monthly rate of ₹19 lakh. The leased area spans 4,257 sq ft (395 sq meters). The transaction included a stamp duty of ₹3.27 lakh and a registration fee of ₹1,000, along with a security deposit of ₹90 lakh, as per property registration documents from the Inspector General of Registration (IGR) reviewed by Square Yards. The lease was officially recorded in December 2025. The lease agreement extends over five years. The rent is fixed at ₹19 lakh for the first year, escalating by…

Latest StoriesRegulatory

Mumbai Realty Firm and Directors Charged with ₹31 Crore Fraud

MUMBAI: A case has been filed against a real estate company and its two directors for allegedly defrauding 19 individuals of ₹31 crore by promising exorbitant returns on an investment in a redevelopment project, as reported on Thursday by officials. The Economic Offences Wing (EOW) of the Mumbai police is currently investigating the matter. A 71-year-old resident of Andheri East recently approached the authorities, accusing M/s Ranbeer Real Estate Developers LLP and its two directors of deceiving him and 18 other investors. The complainant stated to the police that the accused had guaranteed an annual return of 18% on the…

CommercialLatest Stories

Smartworks Leases 1.68 Lakh Sq Ft in Kolkata; 91Springboard Expands

Representative image NEW DELHI: Smartworks Coworking Spaces (Smartworks) has signed a lease for 1.68 lakh sq ft in Kolkata with a leading global provider of information technology, consulting, and business process services. The IT firm’s new office will be set across two locations, Victoria Park and Mediasiti, both situated in Salt Lake City, Sector V. The transaction was facilitated by JLL India as the advisory partner. Currently, the company manages a portfolio of 14 million sq ft across 14 cities. 91Springboard expands with over one lakh sq ft in Bengaluru and Chennai 91Springboard has introduced two new hubs: one in…

Latest StoriesRegulatory

Court Orders Seizure of ₹128 Crore in Uttar Pradesh’s 1st FEOA Case

Representative Image LUCKNOW: On Thursday, a special court ordered the confiscation of assets valued at approximately Rs 128 crore in connection with the fugitive economic offender proceedings initiated by the Enforcement Directorate (ED) against the Shine City Group based in Uttar Pradesh, along with its fugitive promoter, Rashid Naseem, accused of deceiving investors. Officials noted that this decision was made under the Fugitive Economic Offenders Act (FEOA) of 2018, marking the first case of asset confiscation via this mechanism in Uttar Pradesh. The ED will confiscate movable and immovable assets worth Rs 127.98 crore, which had been previously attached under…