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Latest StoriesRegulatory

Ranchi Civic Body Warns Defaulters: Pay Property Tax in 10 Days

RANCHI: On Friday, the Ranchi Municipal Corporation (RMC) published the list of the city’s top 500 property tax defaulters on its official website [www.ranchimunicipal.com]. The corporation has instructed all listed defaulters to settle their outstanding dues within 10 days of the notice being posted. Officials have warned that failure to make payments within the designated time frame will lead to strict legal action under Section 184 of the Jharkhand Municipal Act, 2011. This may include rigorous recovery measures to ensure compliance. The corporation clarified on Saturday that this notice acts as the final warning for chronic defaulters, who have repeatedly…

Latest StoriesRegulatory

Madras HC Urges Authorities to Maintain Legal Sand Quarrying

Representative Image MADURAI: The Madras High Court has emphasized that authorities must adhere to regulations to prevent illegal activities during sand quarrying operations. This ruling came during the consideration of a public interest litigation filed in 2024 by L Karthick, president of the Salem East District Sand and M-Sand Lorry Owners Welfare Association. The petitioner requested that officials enforce the guidelines established by the government in a 2022 directive by restoring the Tamil Nadu Sand Web Service Portal (TN Sand App) and the ‘Investigator App’ with all previous features intact, facilitating the sale of river sand directly at quarry sites…

InfrastructureLatest Stories

Kolkata Civic Body to Monitor New Buildings’ Health for 10 Years

KOLKATA: A committee appointed by the Kolkata Municipal Corporation (KMC) to oversee the reconstruction of houses on Durga Pituri Lane and surrounding areas will monitor the structural integrity of these buildings for the next decade. If any damage occurs due to the operation of the underground metro, the Kolkata Metro Rail Corporation (KMRC) will be responsible for compensation, said Mayor Firhad Hakim during a recent KMC meeting. Concerns were voiced during the KMC House meeting on Friday regarding the safety of structures on Durga Pituri and Syakrapara Lane following the commencement of metro operations. KMC Ward 48 Councillor Biswarup Dey…

Latest StoriesRegulatory

SC Upholds Bombay HC Order on Bandra Church Land Acquisition

MUMBAI: The Supreme Court, emphasizing the “invisible yet pervasive influence of powerful private developers” involved in land acquisitions under the Maharashtra Slum Areas (Improvement, Clearance and Redevelopment) Act, has upheld a Bombay High Court ruling that invalidated the acquisition of Church Trust land at Mount Mary in Bandra by the Slum Redevelopment Authority (SRA) on Friday. The SC noted that the Trust has shown interest in redeveloping the land since 2013. In a landmark ruling, the SC bench consisting of Justices Surya Kant and Ujjal Bhuyan stressed the need for practical and actionable safeguards within a legal framework amid competing…

Latest StoriesRera

Challenge to Appointment of Himachal Pradesh RERA Chief

SHIMLA: The Himachal Pradesh High Court has issued a notice to the Sukhvinder Singh government in response to a petition challenging the appointment of former Chief Secretary R D Dhiman as the chairman of the state Real Estate Regulatory Authority (RERA). The court clarified that Dhiman’s selection will be subject to the final outcome of the petition. The petition was filed by Rajeev Verma, a former member of the state RERA, and was heard by a division bench consisting of Justice Vivek Singh Thakur and Justice Sushil Kukreja on August 20. Dhiman was appointed as RERA chief on June 25.…

InfrastructureLatest Stories

After 7 Years, Ghaziabad’s Master Plan Finally Approved

GHAZIABAD: After extensive drafting and four rounds of review over the past seven years, the Uttar Pradesh government has finally approved the unified Master Plan 2031. Covering an area of 33,543 hectares, the plan encompasses Ghaziabad, Modinagar, and Loni, and for the first time introduces Transit-Oriented Development (TOD) and Special Development Area (SAD) zones, facilitating a mixed-use model that promotes both residential and commercial growth. Officials noted that the plan prioritizes population forecasts and the housing, workplace, and urban service demands that will arise from these projections. Based on the NCR Regional Plan, Ghaziabad’s population is projected to nearly double…

Latest StoriesRegulatory

Bombay HC Urges Strict Safety Adherence for High-Rise Buildings

MUMBAI: The Bombay High Court has mandated that all planning authorities incorporate a specific condition regarding adherence to “special safety control recommendations for working at heights during high-rise construction” when issuing development permissions for high-rise buildings, as per an expert committee’s report. The state informed the court that directives were issued on August 20 to all municipal corporations and councils to ensure these recommendations are followed. This follows the court’s previous orders highlighting significant safety lapses, particularly regarding machinery such as suspended cranes used in high-rise construction projects. The bench comprising Justices Girish Kulkarni and Manjusha Deshpande has established that…

IndustryLatest Stories

Mysuru’s Online Auction of Upscale Sites Draws High Bids

MYSURU: An online auction of stray MDA sites in Mysuru’s upscale neighborhoods has revealed astonishing bids. The top bid for a 745 sqft corner plot in the affluent Vijayanagar IV stage reached Rs 2 crore, significantly above the base price of Rs 59.6 lakh. Another site, spanning 4,133 sqft, garnered a bid of Rs 9 crore compared to its starting price of Rs 3.3 crore. Both properties had a base price set around Rs 8,000 per sqft, using market rates and previous sales as benchmarks. Bids for these properties have surged, often reaching two to three times the original base…

Housing FinanceLatest Stories

Sammaan Capital Secures $300M Through International Bonds

MUMBAI: Sammaan Capital, formerly known as Indiabulls Housing, has successfully raised $300 million (approximately ₹2,600 crore) through three-year bonds aimed at international investors. This marks the company’s inaugural international bond issuance in its new identity. The fundraising occurred at a yield of 8.95%, representing the first high-yield bond offering from India in the current fiscal year. CEO Gagan Banga stated that the funds will help diversify the company’s funding sources. Following this issuance, 10% of Sammaan’s funding will come from international markets. “We’ve been preparing for this issuance since April, waiting for the right investors, and we have successfully secured…

InfrastructureLatest Stories

Thane Launches Squad to Tackle Unauthorized Constructions

THANE: The Thane Municipal Corporation (TMC) has established a special squad to oversee and take action against illegal constructions in Diva and Mumbra, officials announced on Sunday. The move follows multiple complaints regarding unauthorized constructions in these areas. TMC Commissioner Saurabh Rao directed the formation of this team to actively combat these violations, as stated in an official release. This decision was made after a high-level review meeting on Saturday, where the commissioner stressed the urgent necessity to tackle these issues, particularly in regions where construction activities are flourishing. In compliance with high court mandates, actions are being implemented across…