Category: Latest Stories

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IndustryLatest Stories

9 in 10 Nagpur buildings fail fire safety inspections

NAGPUR: Fire safety compliance remains a significant issue in various areas of Nagpur, with over 90% of inspected buildings found violating crucial fire safety regulations in certain fire station jurisdictions. This information was disclosed by the NMC’s fire and emergency services department under the Right to Information (RTI) Act. The data, compiled from responses from individual fire stations for the period from 2023 to May 2026, highlights a concerning level of non-compliance despite regular inspections by the civic fire department. Among the fire stations, Sugat Nagar reported the highest violations, with 339 out of 373 inspected premises failing to meet…

Latest StoriesRegulatory

Panchkula collects ₹5.9 crore of ₹100 crore property tax goal

PANCHKULA: The Panchkula municipal corporation (MC) has managed to collect only ₹5.9 crore out of more than ₹100 crore in outstanding property tax dues, despite offering a 100% interest waiver scheme that concluded on June 30. Among the 1,04,631 properties in the city, only 44,002 (42.05%) are self-certified. According to the latest data from the civic body, collections reached ₹4.3 crore by mid-June, but last-minute attendance at property tax camps increased the total recovery for the first quarter to ₹5.9 crore. Major defaulters with individual dues over ₹2 lakh account for nearly ₹40 crore of the total outstanding. The MC…

Latest StoriesResidential

Kreeva to invest ₹1,050 crore in South Delhi housing project

NEW DELHI: Kreeva, the real estate initiative of Kanodia Group, intends to invest over ₹1,050 crore in a high-end residential project located near New Friends Colony in South Delhi. This venture is supported by a ₹260 crore investment from ASK Property Fund, which is the real estate investment division of ASK Asset & Wealth Management Group. The development will be situated on a parcel of land in South Delhi that was acquired for around ₹350 crore, with construction slated to commence by the end of August 2026. Spanning nearly five lakh sq ft, the project will feature 114 luxury skyvilla…

Latest StoriesRegulatory

Delhi HC directs MCD on removing iron grilles in buildings

NEW DELHI: The Delhi High Court ruled Wednesday that it cannot issue orders on an “omnibus” plea concerning hazardous cage-like iron grille enclosures and illegal projections in residential buildings. These structures reportedly hinder evacuation and rescue efforts during emergencies. Chief Justice DK Upadhyaya and Justice Tejas Karia stated, “It’s akin to asking for the eradication of poverty in India. Such broad requests are beyond our scope; the petition needs to provide specific instances.” The court directed the MCD commissioner to make an informed decision regarding a pending representation from the same petitioner. Petitioner Ashish Jain highlighted that frequent residential fire…

Latest StoriesRegulatory

Patna civic body collects ₹48 crore property tax in Q1 FY27

PATNA: A surge in property tax payments on June 30 allowed the Patna Municipal Corporation (PMC) to achieve a remarkable single-day collection of over Rs 3 crore. This date marked the last opportunity to receive a 5% rebate on property tax payments. On that Tuesday, 3,927 taxpayers made their payments, prompting the PMC to extend its service hours, keeping all collection counters open until midnight to accommodate the influx of residents. The strict cutoff for the discount resulted in PMC collecting nearly Rs 48 crore in property tax during the April-June quarter of the current financial year. Recent reports indicate…

IndustryLatest Stories

Nisus Finance invests ₹70 crore in three Bengaluru projects

NEW DELHI: Nisus Finance Services Co has allocated ₹70 crore across three residential projects in Bengaluru via its Real Estate Special Opportunities Fund I. The ₹1,700 crore fund is a SEBI-registered Category-II alternative investment fund managed by Nisus BCD Advisors LLP. The projects, developed by Sumukha Housing, a Bengaluru-based residential developer headed by Arjun Vasu and Varun Vasu, have a collective gross development value of approximately ₹300 crore. Sumukha Housing has successfully delivered over seven lakh sq ft of residential and commercial properties, focusing on low-rise residential communities throughout Bengaluru’s micro-markets. The RESO-I fund emphasizes structured credit in special-situation real…

Latest StoriesResidential

Bengaluru body aims to simplify apartment association registration

Here’s the rewritten content: BENGALURU: With increasing requests from apartment owners to manage BDA-built apartment complexes, the Bengaluru Development Authority (BDA) has urged the state government to establish a “competent authority” for registering apartment owners’ associations under the Karnataka Apartment Ownership Act, 1972 (KAOA). This initiative follows appeals from several associations willing to independently manage their apartment complexes. However, BDA officials have indicated that the lack of a clear registration process has hampered the recognition of these associations and the transfer of maintenance responsibilities. In a letter dated June 29 to the urban development department, the BDA highlighted that numerous…

Latest StoriesResidential

Maharashtra Updates: Online AGMs & 12% Cap on Maintenance Fees

PUNE: Housing societies across Maharashtra can now conduct annual general meetings (AGMs) online, with interest on maintenance arrears capped at 12% annually, due to the new Maharashtra Cooperative Societies (Amendment) Rules announced by the state government on Tuesday. The detailed provisions include registration, membership, nominations, inheritance, maintenance charges, redevelopment, financial management, and the functioning of managing committees. This notification marks the implementation of the housing society chapter added through amendments to the Maharashtra Cooperative Societies Act in 2019, concluding a nearly seven-year wait. Cooperation commissioner Deepak Taware stated that the new rules will enhance the operations of housing societies. “Following…

IndustryLatest Stories

Ahmedabad civic body aims to monetize 209 properties

AHMEDABAD: The Ahmedabad Municipal Corporation (AMC) established its Asset Monetisation Cell in March 2025 and has selected a consultant to develop strategies for generating revenue from civic properties. In the initial phase, the consultant will focus on monetizing over 209 assets, such as 20 gardens, 25 schools, 50 community halls/party plots, and 10 lakes. The AMC aims to create revenue streams by establishing amusement parks or food courts on land within city gardens and near lakes. Officials indicated that management of community and party plots might be outsourced to private contractors. Additionally, school buildings could be leased out during non-operational…

IndustryLatest Stories

Relief for 270 Bengaluru sites; 55 still unresolved

BENGALURU: The Bangalore Development Authority (BDA) is poised to provide significant relief to over 250 site owners in Banashankari 6th Phase embroiled in the Turahalli forest buffer zone dispute in southern Bengaluru. The BDA has requested the forest department to facilitate a one-time settlement to resolve the deadlock concerning its legally allotted sites. Essentially, these site owners will regain full possession, granting them the freedom to either build their homes or secure their sites. These sites have been in limbo since they were classified as part of the buffer zone for the Turahalli forests, preventing construction despite holding all valid…