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

Morbi Drops Slum Demolition After Residents’ Gujarat HC Appeal

AHMEDABAD: The Morbi Municipal Corporation has reversed its demolition order for the slum on Panchasar Road. This decision came after 115 residents approached the Gujarat High Court, alleging that the civic body was attempting to evict them without offering alternative housing. The slum-dwellers filed a petition, asserting that they have lived in the area for decades, with government acknowledgment of their presence dating back to the Machchhu floods in 1979. Since then, they have been requesting government action to regularize their settlement. During a road-widening initiative carried out by the municipality between 2020 and 2023, the slum residents cooperated by…

Latest StoriesRegulatory

Patna’s property tax collection surpasses ₹116 crore milestone

PATNA: The Patna Municipal Corporation (PMC) has set a new record in property tax collection, amassing ₹125 crore in the fiscal year 2025-26, surpassing its target of ₹116 crore. This achievement is attributed to enhanced enforcement measures and the effective implementation of a one-time settlement scheme. The tax collected this fiscal is ₹11 crore more than the ₹114 crore gathered in the 2024-25 financial year. PMC officials noted that the total revenue from various sources reached around ₹250 crore, although these figures are provisional and may increase as calculations are finalized. The municipal area encompasses 3.06 lakh holdings, with collections…

Latest StoriesRegulatory

Vijayawada Civic Body Sees ₹267 Crore Tax Collection in FY26

VIJAYAWADA: The Vijayawada Municipal Corporation (VMC) has achieved a total tax collection of ₹267.10 crore for the recently concluded 2025-26 financial year. This marks an increase of ₹15 crore compared to the previous year’s collection of ₹252 crore. The city holds 2.27 lakh property tax assessments and 14,575 vacant land tax (VLT) assessments, with current demands of ₹172.60 crore for property tax and ₹22.98 crore for VLT assessments. The overall demand for property tax and VLT, including arrears, is ₹454.00 crore, of which ₹226.28 crore was collected during the financial year. As per the Revenue DCB (Demand, Collection, Balance) abstract…

Latest StoriesRegulatory

Belagavi: BCC’s Property Tax Hits ₹70.8 Crore, Still Short of Goal

BELAGAVI: The Belagavi City Corporation (BCC) collected ₹70.8 crore in property tax for the fiscal year 2025-26, marking a slight rise of ₹1.3 crore from the ₹69.5 crore collected in 2024-25. Despite this marginal increase, the civic body again fell short of its revenue target. The revenue department aimed for ₹78 crore this year, in addition to ₹11.4 crore from the previous year, resulting in a total target of ₹89.4 crore, which was not achieved. Officials, including City Corporation Commissioner Kartik M and Revenue Deputy Commissioner Sidhu Hulloli, made extensive efforts to boost collections. Multiple review meetings were conducted, specific…

IndustryLatest Stories

Lucknow survey aims to prevent fraud and update records

LUCKNOW: On Wednesday, the LDA initiated a door-to-door verification process for all residential and commercial properties allocated under its various schemes. This initiative aims to update records and prevent potential fraud. A private agency has been engaged for this task. Vice-chairperson Prathamesh Kumar urged residents to assist with the surveys, which are essential for digitizing property records. He emphasized that updated records will enhance the quality and efficiency of services provided to citizens. Officials noted that many property files are either incomplete or missing, hindering official activities and causing challenges for allottees. They believe that outdated or lost records heighten…

Latest StoriesRegulatory

Nashik’s property tax revenue rises 10% to ₹287 crore

NASHIK: The Nashik Municipal Corporation (NMC) has reported a 10% increase in property tax collection for the financial year 2025-26, achieving a record revenue of Rs 287 crore, compared to Rs 257 crore in the previous year. This marks the highest property tax collection in the NMC’s history, which spans over four decades. Civic officials attribute this revenue surge to various factors, including amnesty schemes, incentives for timely payments, and a steady rise in registered properties in the city. Of the six divisions, Cidco led with Rs 59 crore in property tax, followed closely by Panchavati at Rs 58 crore.…

InfrastructureLatest Stories

Amaravati Still Lacks a Civic Body

Representative AI image VIJAYAWADA: The debate surrounding the legal status of Amaravati may have been temporarily resolved with amendments to the AP State Reorganisation Act, but the city still lacks a civic body. The Capital Region Development Authority (CRDA) oversees various urban centers and villages, yet no unified urban governance exists to encompass all regions. The Amaravati capital spans 217 sq km across Guntur, Palnadu, Bapatla, NTR, Krishna, and Eluru districts, including municipal corporations in Guntur, Vijayawada, and Tadepalli-Mangalagiri, along with municipalities such as Nandigama, Jaggaiahpet, Kondapalli, Tenali, Ponnur, Sattenapalle, Gudivada, Vuyyuru, and Tadigadapa. While some of these centers are…

Latest StoriesRegulatory

Nagpur Civic Body’s Stamp Duty Collection Misses Target Again

NAGPUR: In the previous financial year (2025-26), Nagpur city’s stamp duty collection on property transactions reached over Rs 1,700 crore, falling short of the Rs 1,900 crore target by approximately 9%. The overall value of transactions for the fiscal year ending March 31 amounted to over Rs 24,000 crore, with a 7% stamp duty applied. More than 11 lakh deeds were registered in that period. The state government’s decision to maintain the ready reckoner rates unchanged for the current financial year (2026-27) aims to stimulate property purchases, potentially increasing stamp duty collections as a result. The stamp duty target was…

Latest StoriesRegulatory

Rajkot Civic Body Fails to Meet Property Tax Collection Goal

RAJKOT: The tax recovery branch of the Rajkot Municipal Corporation (RMC) did not meet its property tax target for the financial year 2025-26. The total collection reached Rs 447.93 crore, falling short by Rs 7.87 crore from the Rs 455.8 crore goal. Despite reminders from the RMC and threats of strict measures, 25% of property owners did not pay their taxes. Nonetheless, this figure reflects an 8.44% growth from the previous year, marking a Rs 34.44 crore increase. Boosting Compliance and Zone-Wise Collections Official reports indicate a low compliance rate, with 75.75% of property owners meeting their tax duties this…

Latest StoriesRegulatory

Noida’s Stamp Duty Hits Decade High, But Property Sales Slow

NOIDA: The Stamp and Registration Department has achieved a revenue of Rs 4,498.7 crore in the financial year 2025-26, marking its highest collection in a decade. The district reached 87% of its total target of Rs 5,180 crore, despite a decline in property registrations, as reported by officials. A total of 1.6 lakh properties were registered in FY 2025-26, down from 1.7 lakh in the previous fiscal year. Among these, there was an increase in registrations under concessional categories, with transactions availing discounts rising from 8,976 in FY 2024-25 to 9,899 in FY 2025-26. AIG-1 Arun Sharma credited this uptick…