Category: Latest Stories

Access daily updates on all real estate sectors including residential, commercial, retail, and infrastructure. Stay ahead with market trends, policy changes, investment news, and expert analysis from across the globe.

Latest StoriesRegulatory

Mohali District Collects ₹11.43 Crore in 19 Days via OTS

MOHALI: In a significant development for the Punjab government’s initiative to collect pending property taxes, the urban local bodies (ULBs) in Mohali district have garnered an impressive Rs 11.43 crore within just 19 days through the one-time settlement (OTS) scheme. Commending the enthusiastic participation of citizens, Mohali Deputy Commissioner Komal Mittal noted that the remarkable revenue collected from July 1 to July 19 demonstrates the effectiveness of the scheme introduced by Chief Minister Bhagwant Singh Mann, which is designed to provide substantial relief on outstanding property tax liabilities. As per official reports, Zirakpur led the collections with Rs 7.53 crore,…

Latest StoriesRegulatory

Uttar Pradesh Minister: 380 Registration Offices to Get Own Buildings

VARANASI: On Saturday, UP Minister Ravindra Jaiswal announced plans to construct dedicated buildings for all 380 registration offices in the state, equipped with world-class amenities. This was revealed during the inauguration of eight registration office buildings with an investment of Rs 18.56 crore. The minister also remotely inaugurated a new sub-registrar office in Sagri, Azamgarh district, and laid foundation stones for several offices in Chandauli, Shravasti, Jay Singhpur, Maholi, Ramsanehighat, Lambhua, Sawayajpur, and again in Shravasti. “Under the guidance of Prime Minister Narendra Modi and Chief Minister Yogi Adityanath, the initiative to operate all registration offices in their own buildings…

IndustryLatest Stories

Kalpataru Pre-Sales Surge 41% to ₹4,531 Crore in FY25

MUMBAI: Realty company Kalpataru Ltd has reported a 41% increase in pre-sales, reaching ₹4,531 crore in the last fiscal year, fueled by rising residential property demand. Kalpataru Ltd, a leading player in the real estate sector, is now publicly listed on the stock exchanges. “For the entirety of FY25, pre-sales totaled ₹4,531 crore, reflecting a 41% year-on-year (YoY) growth,” the company stated in a presentation aimed at analysts and investors. In the fiscal year 2023-24, the Mumbai-based firm sold properties worth ₹3,202 crore. During the previous fiscal year, Kalpataru Ltd launched seven new projects, comprising a total of 6.5 million…

Latest StoriesRegulatory

Karnataka to Charge for Groundwater; Meters Required for All

BENGALURU: In a significant effort to manage groundwater resources and promote sustainability, the state government has introduced fees ranging from Re 1 to Rs 35 per cubic metre for various users of groundwater, including individuals, housing societies, commercial establishments, industries, and mining operations throughout the state. The fees will affect all types of residential complexes, group housing societies, as well as government bodies providing water in urban settings. Commercial entities and mining operations will also be subject to these new regulations. Moreover, the government has mandated that all residential and commercial property owners secure a no-objection certificate (NOC) prior to…

InfrastructureLatest Stories

Study reveals construction and encroachment on Yamuna floodplain

Representative image created by AI NEW DELHI: An advocacy group focused on water issues has flagged multiple ecological concerns following site visits to the eastern bank of the Yamuna floodplain near the Wazirabad barrage. Their assessment revealed that the area has been leveled with construction debris and soil waste, alongside rampant construction and encroachment activities. The group—South Asia Network on Dams, Rivers and People—has called for action from the lieutenant governor, chief minister, and senior officials to clear the dumped waste and dismantle permanent structures in an effort to restore the floodplain. They have also addressed a formal complaint to…

IndustryLatest Stories

Aurum PropTech Secures SEBI Approval for SM-REIT Launch

Representative image created by AI NEW DELHI: Aurum PropTech has received approval from the markets regulator SEBI to launch its Small and Medium Real Estate Investment Trust (SM-REIT) as part of its expansion plans. The company intends to list the SM-REIT schemes on stock exchanges, allowing retail investors the opportunity for fractional ownership of rent-generating premium office assets. Aurum PropTech announced in a regulatory filing on Friday that it is the first publicly listed company in India to obtain a registration certificate from SEBI for an SM-REIT, which will operate under the name AMSA SM REIT Investment Trust (AMSA). “This…

Latest StoriesRera

Telangana RERA Fines Realty Firm for Mokila Layout Violations

HYDERABAD: The Telangana Real Estate Regulatory Authority (TGRERA) has levied a fine of ₹38.5 lakh against a real estate firm for regulatory breaches and deviations from authorized plans at its villa project located in Westend Greens, Mokila, in Ranga Reddy district. The promoter was found guilty of violating Sections 11, 14, and 61 of the Real Estate (Regulation and Development) Act, 2016. TGRERA has ordered an immediate suspension of marketing or sale of villas until the project is officially registered with the authority. The complaint was jointly submitted by five Westend Greens residents: Tumpi Shome, Sailaja Nukala, Monika Singh R,…

Latest StoriesRegulatory

SC: Arrest Anyone Laying Bricks Amid Chandi Chowk Ban

NEW DELHI: On Friday, the Supreme Court criticized unauthorized constructions in the Chandi Chowk area, despite an existing court ban, and instructed the Delhi Police to arrest anyone involved in such activities. A bench comprising Justices Surya Kant and Joymalya Bagchi instructed the Delhi Police commissioner to organize patrols in the area and to immediately halt illegal constructions. “The Commissioner of Police must ensure a police team is deployed for regular patrolling and that all demolition orders issued by the MCD, which have not been stayed by the courts, are followed diligently. Any illegal constructions must be sealed immediately,” the…

Latest StoriesRegulatory

Uttar Pradesh Urban Bodies Start House Tax Recovery Drive

LUCKNOW: In a significant initiative, urban local bodies across the state have commenced efforts to recover outstanding house taxes from property owners. This special drive, which started on July 15, will continue until July 31, during which notices and bills will be sent to those who have yet to settle their dues. In 17 major cities managed by municipal corporations in Uttar Pradesh, over 5.5 million properties will be targeted. These cities generate a large portion of the state’s revenue, which comes from a total of 762 urban local bodies. Additionally, it is estimated that the remaining 199 municipal councils…

Latest StoriesRegulatory

Protests Erupt Over Property Tax Notices in Ghaziabad

GHAZIABAD: On Friday, councillors of the Ghaziabad Municipal Corporation (GMC) organized a sit-in protest at the head office in Navyug Market due to increased property tax notices sent to residents, despite the board’s decision to repeal the proposal. The revised property tax rate took effect on April 1. GMC officials stated that the notice issuance is “system-generated.” They assured that any payments made concerning the increased tax would be adjusted to reflect the previous tax slabs. However, this explanation did not satisfy the protesters. Councillor Manoj Goyal remarked, “The GMC board’s meeting on June 30 unanimously decided to revert to…