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IndustryLatest Stories

Pune: PMC Unveils Tax Amnesty Scheme Amid Resident Opposition

PUNE: In response to recent protests from some residents, the Pune Municipal Corporation (PMC) has announced a new amnesty scheme for property tax defaulters, set to launch from November 15, 2025, until January 15, 2026. “The monthly penalty of 2% has now surpassed the original tax amount, prompting this initiative, which will provide a 75% waiver on penalties,” explained PMC’s additional commissioner, Prithviraj BP. Recently, the citizens’ group Sajag Nagrik Manch criticized the effectiveness of such schemes, stating that previous efforts have failed to encourage defaulters to pay their dues. According to the Maharashtra Municipal Corporations Act, a 2% monthly…

IndustryLatest Stories

Mohali Industrial Plot Price Drops from ₹8.5 Cr to ₹4.5 Cr in 4 Months

MOHALI: Industrial land prices in Mohali’s Phase 8-B have experienced a significant drop, with a 500 square yard plot being sold for Rs 4.5 crore in the recent Punjab Small Industries and Export Corporation (PSIEC) auction that concluded late Tuesday. This price is almost half of the Rs 8.5 crore achieved for the same plot size during the auction in June of this year, indicating a shift in buyer sentiment and increased availability of industrial land. The PSIEC auction included 26 plots of 500 sq yards each, offered on a 99-year leasehold basis. Participation in this round was steady but…

IndustryLatest Stories

GDA Dismantles Illegal Structures, Recovers ₹30 Crore Vasundhara Land

GHAZIABAD: The Ghaziabad Development Authority (GDA) has dismantled an illegal township spanning 23 hectares in Bhikhanpur and Morta, where developers had constructed roads and boundary walls. A recent survey from the GDA indicates that the number of illegal colonies has increased to 351, up from 321 in 2021, occupying a total of 2,944 acres of land, said an official. The Ghaziabad Municipal Corporation (GMC) has also reclaimed 1,600 square meters of land in Vasundhara valued at ₹30 crores. “In these areas, encroachers collaborated with land sharks to designate land for residential purposes without obtaining necessary map approvals. They established an…

InfrastructureLatest Stories

East Bengaluru Residents Fear G+5 Buildings Will Collapse Road

BENGALURU: Residents of Nanjappa Layout in Kalkere, part of Bengaluru East City Corporation, have expressed concerns about unauthorized G+5 apartment constructions on an 18-foot road. They allege that builders are breaching height limits and safety regulations, resulting in a strain on basic infrastructure and an invasion of their once peaceful neighborhood. Residents have reported that despite numerous complaints—both verbal and written—to the Greater Bengaluru Authority (GBA), there has been no substantial action against the offenders. One local resident stated, “Barricades have been erected in our compound. One building started two years ago, while another began seven months ago. We’re suffering…

IndustryLatest Stories

Adani Enterprises Set to Outbid Vedanta for Jaiprakash Associates

NEW DELHI: Adani Enterprises Ltd is expected to be the top bidder for the acquisition of Jaiprakash Associates Ltd (JAL) through an insolvency process, as its proposal to make payment over two years has been deemed more favorable than Vedanta’s five-year payment plan, sources indicated. In early September, Vedanta Group had outbid Adani Group with a net present value (NPV) offer of Rs 12,505 crore in an auction led by lenders to find buyers for JAL, which operates in sectors including real estate, cement, power, hotels, and roads. Dalmia Cement (Bharat) Ltd, Jindal Power Ltd, and PNC Infratech Ltd did…

Latest StoriesRegulatory

SC nullifies Bombay HC ruling on ‘private forests’ classification

Supreme Court of India MUMBAI: In a blow to the state government, the Supreme Court annulled a 2018 Bombay High Court decision that allowed the Maharashtra revenue department to designate land across Mumbai, Thane, and elsewhere as “private forests,” which curtailed development potential. The SC criticized the HC ruling for failing to adhere to a binding precedent mandating a meticulous process before classifying private land as part of the green pool. The plots varied in size from one acre to 100 acres. The HC bench, led by Justice S C Dharmadhikari, had dismissed 173 petitions and endorsed the state’s initiative…

Latest StoriesRegulatory

Rajkot Civic Body Surpasses 50% Property Tax Collection Goal

RAJKOT: On Saturday, the Rajkot Municipal Corporation (RMC) reached 50% of its annual property tax collection goal, tallying Rs 301.03 crore. Since the financial year commenced on April 9, 3.82 lakh citizens have settled their property taxes. The RMC collected a total of Rs 412 crore in property taxes during the entire 2024-25 financial year. To encourage timely payments, RMC has launched incentive schemes, offering a 10% rebate for male property owners and a 15% rebate for female property owners who pay by May 31. Additionally, online payers receive an extra 1% discount. In an effort to address past due…

InfrastructureLatest Stories

Gurugram Construction Sites Must Register on Dust Portal: DC

Representative AI image GURUGRAM: The Gurgaon administration has announced that all construction projects exceeding 500 sqm must now register on the Haryana State Pollution Control Board’s online dust portal to ensure effective monitoring during GRAP restrictions. A complete ban on the burning of all types of waste has been implemented, requiring immediate action from relevant departments. Deputy Commissioner Ajay Kumar stated that controlling air pollution is a shared responsibility essential for public health and environmental protection. “Air pollution control is not merely a government formality but a collaborative effort for the well-being of the community,” he emphasized. During a video…

Latest StoriesResidential

Pioneer Urban Land Acquires 9,419 sq ft Flat in DLF Camellias for ₹95 Cr

NEW DELHI: Realty company Pioneer Urban Land and Infrastructure Ltd has acquired a 9,419 sq ft apartment in DLF’s luxury project ‘The Camellias’ in Gurugram for ₹95 crore, according to CRE Matrix. The real estate data analytics firm reviewed the registration document for this transaction, which was registered on September 29. Additionally, CRE Matrix has noted that three more residential properties were registered in September, collectively valued at about ₹176 crore. Sources suggest that the current value of these properties could be significantly higher. A penthouse was sold in 2015 for ₹59 crore, and another was booked in August 2021.…

Latest StoriesResidential

PDA Launches Online Registration for Plot and Flat Auctions

Representative image PRAYAGRAJ: The Prayagraj Development Authority (PDA) has announced the sale of 206 residential plots in six housing schemes, starting this week through online registration and auction. According to PDA Secretary Ajit Singh, 40 newly created plots have been added to the list. The plots range in size from 60 to 150 square meters to accommodate middle-class homebuyers, with the Dev Prayagraj Jhalwa scheme featuring the highest number—107 plots available for sale. Additional plots include 14 in the Kalindipuram Housing Scheme, 5 each in Kasari-Masari Phase 1 and Phase 2, 30 in the Naini Housing Scheme, and 45 in…