Category: Latest Stories

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Latest StoriesRegulatory

Punjab Extends Taxpayer One-Time Settlement to May 31

CHANDIGARH: The Punjab government announced on Saturday a two-month extension for the One Time Settlement (OTS) scheme aimed at recovering outstanding dues, now extended to May 31, 2026, from the original March 31, 2026 deadline, according to finance minister Harpal Singh Cheema. Cheema mentioned that the taxation department has received 9,151 applications so far, resulting in a total revenue collection of ₹134.21 crore. The state government has already granted waivers amounting to ₹446.17 crore. “This extension offers a final chance for eligible taxpayers to settle their dues and achieve financial relief. The taxation department has also identified 8,000 properties belonging…

InfrastructureLatest Stories

Delhi Unveils Slum Rehab Plan with Shops and E-Rickshaw Charges

Representative AI image NEW DELHI: The Delhi government is set to offer modern amenities to slum dwellers, including shopping complexes, parking areas, and e-rickshaw charging stations, as part of an upcoming rehabilitation and resettlement policy, according to sources. The proposed policy also considers amenities like schools, Jan Suvidha Kendras, and specific sanitation facilities for women. The plan is in its final stages and is expected to be finalized this month. The government intends to extend the eligibility cut-off date for existing policies by approximately ten years—from January 1, 2015, to January 1, 2025—thereby allowing many more slum residents to qualify…

IndustryLatest Stories

Institutional Investments in Indian Real Estate Surge 25% to $1.6B

NEW DELHI: According to a recent report by Colliers India, institutional investments in Indian real estate grew 25% year-on-year to $1.6 billion in the January–March quarter of 2026, primarily fueled by a notable rise in domestic capital. Domestic investments experienced a remarkable 57% increase, reaching $1.2 billion and comprising nearly 75% of the total inflows, a significant rise compared to historical averages. On the other hand, foreign investments saw a decline of 23% year-on-year, totaling $0.4 billion amidst global market uncertainties. Delhi-NCR and Bengaluru were key players, together accounting for 46% of total inflows, attracting approximately $0.4 billion and $0.3…

InfrastructureLatest Stories

MIDC Seeks Bids for 338-Acre Slum Redevelopment in Thane-Belapur

NAVI MUMBAI: The Maharashtra Industrial Development Corporation (MIDC) has released a Request for Proposal (RFP) for developers to undertake one of the most significant slum rehabilitation projects in the Mumbai Metropolitan Region. This initiative targets informal settlements spanning 338 acres within the Thane-Belapur industrial area of Navi Mumbai. The project aims to address approximately 35,800 slum structures along the Trans Thane Creek (TTC) corridor between Digha and Shirwane, where recurring encroachments have turned large portions of MIDC’s industrial land into dense habitats. This endeavor is considered one of the most ambitious redevelopment projects since Dharavi. Under the tender requirements, only…

InfrastructureLatest Stories

GIS Survey Starts in Chhatrapati Sambhajinagar Areas

CHHATRAPATI SAMBHAJINAGAR: The Chhatrapati Sambhajinagar Metropolitan Regional Development Authority (CSMRDA) has initiated a Geographic Information System (GIS) survey, kicking off with a pilot project in five of the 311 villages. The pilot includes the villages of Mauje Sahajapur, Balapur, Shendra Jahangir, Kagjipura, and Farola, for which a private consulting agency has been appointed. CSMRDA commissioner Jitendra Papalkar stated, “We are conducting a GIS survey of CSMRDA areas to support comprehensive development and delivery of essential infrastructure in these villages.” During a recent review meeting, Papalkar urged various government departments to assist the consulting agency assigned to this task. CSMRDA will…

Latest StoriesResidential

Gujarat Property Registrations Fall to 1,610 in FY26

AHMEDABAD: According to data from GujRERA, Gujarat’s real estate sector saw new project registrations dip to 1,610, the lowest level since the pandemic-affected fiscal year 2021. Experts attribute this decline to a combination of market saturation from recent developments and a more cautious approach by developers, following nearly four years of robust post-pandemic demand. Ahmedabad accounted for 506 of these new registrations. The robust demand observed in urban centers, particularly as homebuyers sought upgraded lifestyles, has slowed. Since FY 2021, annual project registrations have consistently exceeded 1,700, but FY 2026 marked a decline of approximately 211 projects compared to the…

Latest StoriesRegulatory

Belagavi Property Tax Growth Stalls Despite Building Boom

BELAGAVI: Despite the rapid expansion of Belagavi city, the collection of property taxes has not kept up, raising concerns about the financial management of the city corporation. As of March 31, there are 165,958 properties across 58 wards in the city, with an estimated addition of 10,000 to 15,000 new properties each year. However, this growth has not resulted in a corresponding increase in civic revenue. In the fiscal year 2025-26, the city corporation collected ₹70.8 crore in property tax, a slight increase from ₹69.5 crore in 2024-25, falling significantly short of the ₹89 crore target. Officials have indicated that…

Latest StoriesResidential

Supreme Court revives stalled Supertech Supernova project in Noida

NEW DELHI: An Empowered Committee (EC) formed by the Supreme Court has initiated actions to revive the long-delayed Supernova Project in Noida. This includes measures such as a forensic audit, homebuyer verification drives, and plans to select a new developer for the esteemed mixed-use development. Established following a Supreme Court ruling on December 16, 2025, the Committee commenced its operations in the last week of December 2025 and has taken control of Supertech Realtors Pvt. Ltd., the corporate entity in question. The Supernova Project notably features the iconic Spira Tower, envisioned to be among the tallest buildings in India. Justice…

InfrastructureLatest Stories

Varanasi’s ₹2,866 Crore Budget Aims for City Growth and Infrastructure

VARANASI: The Varanasi Development Authority (VDA) forecasts an operational income of ₹2,070.61 crore for the financial year 2026-27, marking a substantial increase of about 448% from the previous year. In conjunction, a budget allocation of ₹2,069 crore has been made, reflecting a rise of approximately 343% compared to last year. Overall, a comprehensive budget of ₹2,866.20 crore was approved on Thursday. The budget is heavily focused on the city’s expansion, new townships, and infrastructure development. The primary revenue source identified in the budget is land sales and compensation, expected to generate about ₹1,206 crore. Additionally, around ₹575 crore has been…

IndustryLatest Stories

Over 18 Lakh Kanals of Land Encroached in J&K: Official Data

Representative AI image JAMMU: Over 1.8 million kanals of land are reported to be encroached in Jammu and Kashmir, with only 29,000 kanals reclaimed so far, according to official data. The data indicates that a total of 1,838,735.42 kanals are affected, consisting of 1,722,993 kanals of state land and 115,742.42 kanals of forest land. It was noted that encroachment entries in revenue records have been removed. Officials from the revenue department state they are acting under the Land Revenue Act to evict encroachers. However, they acknowledge it is a significant issue, stating ongoing eviction drives without a fixed timeline. “The…