Category: Latest Stories

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Latest StoriesRegulatory

OSB Director Faces FIR for Fund Misuse & License Violations

GURUGRAM: In a significant enforcement action within Haryana’s affordable housing sector, an FIR has been filed against a company and its director for financial fraud, licensing infringements, and extensive irregularities. The Haryana State Enforcement Bureau has lodged the FIR against M/s Ocean Seven Buildtech (OSB) Pvt Ltd and its director, Swaraj Singh, following a complaint from the district town planner (enforcement). This action has led to authorities requesting a lookout circular (LOC) against Singh due to concerns he might flee the country. The FIR cites violations under Sections 10 and 12 of the Haryana Development and Regulation of Urban Areas…

IndustryLatest Stories

Maharashtra to Set Discounted Property Tax Rate This Week

PUNE: The state government and Pune Municipal Corporation (PMC) officials are set to meet on Wednesday to finalize the future approach regarding property tax implementation at discounted rates in 32 merged areas. Residents from these merged areas are requesting that the state impose property taxes at reduced rates, arguing that the PMC has levied heavy taxes following the integration of these regions into municipal limits. Last year, the state government directed the PMC to levy “twice the property tax rate charged by the grampanchayat before the merger,” in response to citizen demands. However, PMC officials stated they could not comply…

Latest StoriesResidential

Access Road to Gurugram’s Sector 85 Closed; Buyers Protest

GURUGRAM: Residents of Orris Carnation, Aster Court, and Aster Court Premier in Sector 85 protested on Sunday against the closure of a 24-meter-wide access road to their township. They claim this road was promised as the main entryway when they purchased their homes. Chanting slogans and holding placards, the residents marched to Iris Broadway Mall, demanding the road’s immediate reopening. They indicated that the road was fully operational at the time of the flat sales, but it was blocked in October last year after possession was granted. Over 7,000 residents, including children and the elderly, are now compelled to use…

IndustryLatest Stories

Pune Civic Properties at Risk Due to No GPS Mapping

PUNE: The Pune Municipal Corporation’s plan to map its 3,000 properties via GPS to protect them from encroachment remains unfinished even after five years. The initiative was launched in 2021-22, prompted by the discovery that a municipal community hall was being misused for weddings by a former corporator. A contractor was subsequently hired to execute the project, but activists report that it appears to have stalled. Vijay Kumbhar from Surajya Sangharsh Samiti, a citizens’ group, remarked, “The project has not delivered the desired results and seems to have been sidelined, especially as the civic body is initiating another round of…

Latest StoriesResidential

Noida Homebuyers Protest Over Delayed Project Possession

NOIDA: Over 80 homebuyers from Lotus Arena in Sector 79 protested on Sunday due to the project’s incompletion and the delay in possession. The development spans 50,000 square meters on Plot No. SC-01/A2 and comprises 1,080 flats, of which 858 units have been sold, leaving 222 unsold. Launched in 2014 with an approved layout from the Noida Authority, project promoters reportedly mismanaged around Rs 387 crore of homebuyers’ funds. This mismanagement triggered the initiation of the Corporate Insolvency Resolution Process (CIRP) in 2020, leading to a resolution plan approved by the National Company Law Tribunal (NCLT) in 2023, which appointed…

IndustryLatest Stories

Karnataka’s hike in property registration fee sparks backlash

DHARWAD: The state government’s decision to raise property registration fees by 2% has provoked significant backlash from the public and opposition parties, which are now urging an immediate reversal. Deputy opposition leader Arvind Bellad criticized the Congress government’s “anti-people policies” that are adding to the burdens of citizens already facing rising costs. “The government has suddenly doubled the property registration fee. For low-income and middle-class families, this increase—raising stamp duty and registration charges to 7.6%—is a heavy burden,” he remarked, calling for a return to the previous rates. Citizens claim that the state government has used the guise of “better…

Latest StoriesRegulatory

SC upholds termination of unused salt pan land lease in Mumbai

MUMBAI: Recently, the Supreme Court upheld an interim order from the Bombay High Court, which denied a request to stay the termination of a lease for 150 acres of salt pan land from a total of 782 acres located in Mulund, Bhandup, and Kanjurmarg. The court emphasized that a stay is not a statutory entitlement in appeals. The Supreme Court expressed a “prima facie opinion,” indicating that the High Court correctly denied relief to the lessee based on equitable considerations, as the specified 150 acres adjacent to the Eastern Express Highway had not been used for salt production for nearly…

Latest StoriesRegulatory

Ranchi Civic Body Names Govt Entities as Major Tax Defaulters

RANCHI: The Ranchi Municipal Corporation (RMC) has made public a list of the largest property tax defaulters, highlighting several key government entities with total dues reaching into thousands of crores. RMC officials reveal that government buildings within municipal boundaries owe upwards of Rs 60,000 crores, severely impacting the civic body’s revenue. Among the most significant defaulters is the Heavy Engineering Corporation (HEC), with outstanding dues of approximately Rs 40.72 crore. The South Eastern Railway’s Ranchi division owes Rs 2.38 crore, while the Hatia division has unpaid dues of Rs 1.77 crore. Additionally, the Sports Authority of Jharkhand in Morabadi has…

Latest StoriesRegulatory

Madras HC Criticizes Chennai Civic Body for Sealing Delays

Here’s a rewritten version of your content: CHENNAI: The Madras High Court has criticized the Greater Chennai Corporation (GCC) as “negligent and indolent” for failing to follow court orders concerning unauthorized constructions. Instead of enforcing lock-and-seal orders, the GCC has been allowing building occupants to explore other options. This case arose from a petition aimed at sealing a building in Virugambakkam. During a hearing on April 3, the court reprimanded the GCC for neglecting a similar petition from 2023. Although the GCC requested four weeks for compliance, the case was not revisited until August 12. Due to the GCC’s inaction,…

Latest StoriesResidential

Ludhiana Civic Body Urges Timely Property Tax Payments

LUDHIANA: The municipal corporation is making a final push to collect outstanding property tax payments. Residents are invited to take advantage of a one-time settlement (OTS) policy that eliminates all penalties and interest. The deadline for this scheme is Sunday, August 31. To facilitate last-minute payments, the city’s citizen service centers, or suvidha kendras, will open on Saturday and Sunday. Mayor Inderjit Kaur stated that this initiative aims to assist residents and encouraged everyone to seize this opportunity to settle their dues. “This is a golden chance for residents to pay their outstanding property tax free of interest and penalties,”…