Category: Latest Stories

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Latest StoriesResidential

Lucknow’s Q1 FY26 House Tax Exceeds 300,000

LUCKNOW: In the first quarter of 2025–26, over three lakh property owners in Lucknow settled their house taxes. Meanwhile, more than four lakh have yet to fulfill this obligation, as reported by the Lucknow Municipal Corporation (LMC) on Monday. As part of the new system, a 10% rebate is available only to individuals who process both house tax and user charges online by July 31. Of the 7,33,521 registered properties in the city, 3,00,208 homeowners cleared their dues between April and June, leaving 4,33,313 properties still pending for tax payment. The total revenue collected to date is Rs 2,02.4 crore.…

Latest StoriesRera

Karnataka: 10 Builders Owe ₹347 Crore in Penalties

Even years after the implementation of the Real Estate Regulation and Development Act (RERA), many major builders in Karnataka are disregarding recovery orders from the Karnataka Real Estate Regulatory Authority (K-RERA). Consequently, homebuyers with favorable rulings find themselves struggling for justice through courts and bureaucratic channels. When RERA was launched, there was hope that victims of real estate fraud would quickly receive justice. Unfortunately, that hope has largely gone unfulfilled. A striking example is the fact that ten major builders owe a collective ₹347 crore in penalties, yet have not made any payments. Recent information acquired through an RTI query…

CommercialLatest Stories

JP Morgan Signs ₹1,000 Crore Office Lease in Mumbai BKC

In a landmark pre-lease agreement, U.S. financial giant JP Morgan has secured over 116,210 sq ft of office space in Sumitomo’s commercial tower within Mumbai’s Bandra-Kurla Complex (BKC). The deal involves a long-term lease of 10 years. The lease includes an initial 10-year term, with options to renew for up to three additional five-year extensions, potentially extending the total to 25 years. The estimated rental outflow for the first 10 years is close to Rs 1,000 crore, with total payments over the 25-year term anticipated to exceed Rs 2,500 crore, making it one of the most significant long-term commercial leases…

Housing FinanceLatest Stories

Westridge to Sell 9.8% Stake in Aptus Value Housing

Aptus Value Housing stocks will be under the spotlight on Tuesday as private equity firm Westridge Investments intends to sell a 9.8% stake in a transaction valued at Rs 1,495 crore, as reported by CNBC-TV18. The floor price for the transaction is set at Rs 305 per share, according to sources. Aptus Value Housing Finance India experienced a 26% year-on-year increase in net profit for the March quarter, driven by robust disbursement growth and improved operational efficiency. The profit after tax reached Rs 207 crore, up from Rs 164 crore during the same period last year. Disbursements saw a 10%…

InfrastructureLatest Stories

Gurugram: Four Illegal Homes Demolished, Two Buildings Sealed

GURUGRAM: The Department of Town and Country Planning (DTCP) in Gurgaon, along with a team from the Sector 53 police station, conducted a demolition operation in Saraswati Kunj along Golf Course Road on Sunday. DTCP officials reported that enforcement actions led to the demolition of four illegally constructed houses that violated approved layout plans. These structures were raised without the necessary approvals and clearances. Furthermore, two buildings nearing completion were sealed for breaching zoning and planning regulations. The enforcement team also demolished two unauthorized labor accommodations situated on the right of way (ROW) of the internal road within the colony.…

Latest StoriesRegulatory

Sudhanshu Infrastructure Faces Legal Action in Bhandup Case

MUMBAI: In a significant move against unauthorized construction and violations of urban planning regulations, the Slum Rehabilitation Authority (SRA) has filed a complaint with Bhandup police against Sudhanshu Infrastructure Pvt. Ltd. and its representatives, including Abhayjit Dubey, for alleged illegal structural alterations and unauthorized occupancy of Aniraj Tower in Bhandup (West), Mumbai. According to Laxmikant Manekar, Assistant Engineer at the SRA, the developer improperly constructed a hall instead of a permitted shop on the 8th floor without the necessary approvals under the Maharashtra Regional and Town Planning (MRTP) Act, 1966. This construction violates the approved building plan. Moreover, the developer…

IndustryLatest Stories

Landlords to Auction Bhadravati Civic Body Assets

CHANDRAPUR: In a surprising development, private landowners repossessed furniture and assets from the Bhadravati Municipal Council office due to unpaid rent totaling nearly 66 lakh for land leased for the town’s weekly market. The 30,033 square feet of land, owned by Raju Gundawar, Sanjay Gundawar, and Kishor Gundawar, was leased to the council in 2018 for a monthly fee of 66,000. Although initial payments were made, the council eventually defaulted, accumulating years of overdue rent. Despite repeated reminders and offers of payment plans from the landowners, the council failed to settle the outstanding debt. Consequently, the landowners sought legal recourse,…

Latest StoriesResidential

Thiruvananthapuram Tops State in Home Registrations

THIRUVANANTHAPURAM: In a significant boost to the capital’s real estate sector, Thiruvananthapuram has taken the lead in residential project registrations under the Kerala Real Estate Regulatory Authority (K-RERA) for the first half of the year. From January 1 to June 30, the state capital recorded an impressive 1,068 residential units—marking the highest in the state and the only district to exceed the 1,000-unit milestone. The latest data, released by the state government via the K-RERA website on Monday, shows Thiruvananthapuram’s ongoing momentum in real estate development. Ernakulam followed with 887 units, while Kozhikode saw 632 units, signaling a robust urban…

Latest StoriesRera

Himachal Pradesh Appoints New HP RERA Chairperson & Member

SHIMLA: The Himachal Pradesh government has announced the appointment of former IAS officers RD Dhiman and Amit Kashyap as the Chairperson and Member of the Himachal Pradesh Real Estate Regulatory Authority (HP RERA), following criticism from the High Court regarding delays in these appointments and a penalty of ₹5 lakh imposed on the state government. According to the notification from the Housing Department (No. HSG-A003/1/2024-L dated June 24, 2025), RD Dhiman has been designated as the Chairperson while Amit Kashyap has been appointed as a Member. These appointments are made under Section 20 of the Real Estate (Regulation and Development)…

CommercialLatest Stories

Dharavi Redevelopment: India’s Next Prime Business Hub

AI-generated Representative Image The redevelopment project of Dharavi, Asia’s largest slum, is set to introduce a dedicated commercial business district, enhancing both business and employment opportunities amidst one of the most ambitious urban transformations globally. A significant portion of the nearly 600-acre prime land in the heart of Mumbai, India’s financial hub, will be designated for commercial use, aiming to establish a central business district (CBD) that attracts diverse companies. This district is anticipated to feature Grade-A office spaces, premium retail, co-working areas, hotels, and infrastructure support, as per sources involved in the planning. “The commercial area will utilize land…