Category: Latest Stories

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Latest StoriesRegulatory

Nagpur Civic Body Targets Property Tax Defaulters with Tech Warrants

NAGPUR: In a decisive effort to address rising property tax arrears, the Nagpur Municipal Corporation (NMC) has initiated a rigorous enforcement campaign utilizing technology to identify habitual defaulters. Municipal Commissioner Abhijeet Chaudhari has instructed the property tax department to actively pursue overdue payments, leading to the implementation of a new automated warrant alert system for those who neglect tax notices, as stated by Deputy Municipal Commissioner (Revenue) Milind Meshram. The NMC is facing challenges in generating funds for essential projects. Disturbingly, data reveals that 261 prime property owners across the city have defaulted on property tax payments exceeding ₹25 lakh…

IndustryLatest Stories

Karnataka Builders Hit with Heavy Fines for Plan Violations

BENGALURU: The Karnataka government has updated the penalty rates for buildings that have been constructed against approved plans within urban local bodies. A recent government directive allows these buildings to obtain revised plans if they pay a specified fine, provided that deviations are within 15 percent of the sanctioned setback limits. Under the new regulations, residential, industrial, and other non-commercial structures in Town Panchayat areas will incur a fine of ₹1,000 per square metre, while commercial buildings will face a penalty of ₹1,500 per square metre. For Municipal Council areas, the fines are set at ₹1,200 and ₹1,800 respectively; in…

InfrastructureLatest Stories

HYDRAA Demolishes Five-Storey Illegal Building in Miyapur

Representative AI image HYDERABAD: On Saturday, the Hyderabad Development and Regulatory Authority (HYDRAA) demolished a five-storey building illegally erected on government land in Miyapur. Officials stated that the structure encroached upon land designated for the Hyderabad Metropolitan Development Authority (HMDA). According to HYDRAA officials, the building’s developers, including Ellareddy of Bhanu Constructions, initially purchased Plot No. 126, covering 400 square yards in a certified HMDA layout in Ameenpur. However, they subsequently encroached upon adjacent government property in Miyapur, expanding their claim to nearly 473 square yards of HMDA land. The developers are alleged to have fabricated fraudulent Layout Regularisation Scheme…

IndustryLatest Stories

No 40% Rate Hike Yet, Ghaziabad Adjusts Shop Rates

GHAZIABAD: The district administration has opted not to implement the proposed property circle rate increase of up to 40%, instead making only minor adjustments to last year’s rates to correct “technical anomalies”. The new rates, which remain largely the same as those from 2024, were sanctioned by District Magistrate Ravindra Mandar on October 31 and took effect on November 1. A September proposal had suggested a 5-15% increase in residential plot values, with a 10-40% hike in flat rates based on location, and potential increases of up to 40% for large integrated townships like Wave City. There were also recommendations…

Latest StoriesResidential

Bhubaneswar: BDA Orders Defaulting Homeowners to Pay Fees

BHUBANESWAR: To protect the interests of allottees of a major housing project in the city, the Bhubaneswar Development Authority (BDA) has reaffirmed its earlier decision, requiring occupants with outstanding monthly maintenance fees to settle dues exceeding Rs 2 lakh within a month. Some occupants have refused to pay these fees, arguing that the project is still under the builder’s control and has not been fully handed over to the association, claiming that there is no registered association of allottees per legal requirements. Nevertheless, the project located in Sijua, Patrapada, was among the first to receive its occupancy certificate and established…

Latest StoriesRera

Karnataka RERA to Check Projects Under New Closure Policy

BENGALURU: The Karnataka Real Estate Regulatory Authority (Rera) is set to implement a project closure policy, making it the second state in India to do so, following Odisha. The purpose of this policy is to enhance transparency and accountability in builders’ submissions while safeguarding homebuyers. It mandates that projects can only be closed after all statutory and service-related compliance is verified. Until now, the authority has only recorded self-declared project completions from promoters without any verification, even since its establishment in 2016. K-Rera chairman Rakesh Singh informed TOI that the new policy aims to ensure clear communication and accountability from…

Latest StoriesRegulatory

NGT Orders MoEFCC to Reassess Gurugram Housing Clearance

NEW DELHI: The National Green Tribunal has instructed the Ministry of Environment, Forest and Climate Change to reassess the environmental clearance for a group housing project expansion in Gurugram’s Sukhrali village. The directive came during a hearing in which the resident welfare association (RWA) contested the granting of environmental clearance (EC) by the Haryana State Environment Impact Assessment Authority (SEIAA) for the project’s expansion. A bench led by NGT Chairperson Justice Prakash Shrivastava and member expert A Senthil Vel observed that a three-member expert committee was established in 2021 to re-evaluate the project’s environmental impact and submit findings to the…

Latest StoriesResidential

Builders Target Linking Road Societies, Offering Up to ₹1L/Sq Ft

MUMBAI: Marketed as Mumbai’s equivalent to London’s Oxford Street and Manhattan’s Fifth Avenue, Linking Road has become a hotspot for builders eager to acquire entire housing societies, making jaw-dropping offers that are shaking up the real estate landscape. The mantra seems to be “Take the money and move on,” with most families readily accepting these lucrative deals. Take Brindaban Society on Linking Road in Santacruz West, for example. Developer Mohit Kamboj from Aspect Realty, known for his ties to the BJP and CM Devendra Fadnavis, has spent approximately Rs 170 crore to buy all 14 apartments in the Brindaban. “This…

Latest StoriesRegulatory

DM mandates tenant, employee verification in Jammu by Nov 6

JAMMU: Authorities have mandated that all landlords, property owners, and business leaders in Jammu must report details of their tenants, domestic helpers, and employees to local police within seven days, as announced by officials on Saturday. District Magistrate Rakesh Minhas stated that this directive, issued on Friday under Section 163 of the Bharatiya Nagarik Suraksha Sanhita (BNSS), was prompted by a report from the Senior Superintendent of Police, Jammu, emphasizing the necessity for tenant verification. This order is timed just ahead of the reopening of government offices, which had been closed in Srinagar since October 31 and are set to…

Latest StoriesResidential

Mumbai property registrations fall 14% to 11,200 in October 2025

NEW DELHI: Mumbai city (BMC jurisdiction) is projected to see approximately 11,200 property registrations in October 2025, with stamp duty collections reaching ₹1,004 crore. This represents a 14% decline in registrations year-on-year and a 17% drop in revenue collections. Comparing month-over-month data, registrations decreased by 7%, and stamp duty collections saw a 22% decline. Residential transactions accounted for about 80% of all registrations during the month. Prashant Sharma, president of NAREDCO Maharashtra, commented, “The slight decline in registrations this October should be viewed as a temporary adjustment, not a cause for concern. We anticipate that with supportive government initiatives and…