Category: Latest Stories

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Latest StoriesResidential

Property Rates Rising in 2,624 Indore Locations

INDORE: Starting Wednesday, property prices will increase in over 2,000 areas of Indore due to the implementation of new collector guideline rates for the 2026-27 financial year. Out of 4,590 surveyed locations, prices have risen in 2,624 areas, reflecting an average increase of 26% across the district. On Tuesday, the last day of the financial year, sub-registrar offices experienced a rush as residents hurried to register properties at the old rates. Despite banks being open to facilitate transactions, many advocates reported technical issues and ‘slot limits’ as late-night filings surged. Although the registration department’s revenue increased from the previous year,…

Latest StoriesRegulatory

Pune civic body falls ₹3,400 crore short of FY26 revenue goal

PUNE: The Pune Municipal Corporation (PMC) reported a total revenue of approximately Rs 9,200 crore for the fiscal year 2025-26, falling short of its Rs 12,600 crore target by nearly Rs 3,400 crore. The primary cause of this revenue deficit came from the building permissions department, which earned only Rs 2,341 crore, compared to its expected Rs 2,853 crore. Civic officials noted that challenges in recovering property taxes from newly merged areas and ongoing legal issues regarding land measurement have significantly hampered building permission grants. Activists criticized the administration for relying on amnesty schemes to boost revenue instead of effectively…

Latest StoriesResidential

Bengaluru Plans 4,200+ Flats, Focuses on Vertical Housing

Representative Image BENGALURU: The Bangalore Development Authority (BDA) is shifting its focus from large plotted layouts to apartment complexes, initiating six new housing projects that will offer 4,251 flats as part of its strategy to enhance residential infrastructure. These projects, amounting to ₹3,200 crore, are located in Konadasapura, Electronics City, Valagerahalli, Kalathammanahalli, and Kenchanapura, featuring unit types ranging from 1BHK to 4BHK. Current work includes essential infrastructure such as roads, drainage, and power supply. One of the most significant developments is the Konadasapura Phase 1 housing scheme in Bidarahalli hobli, which is set to include 1,928 flats – comprising 480…

Latest StoriesRegulatory

Andheri East Leads FY26 Property Tax in Mumbai; Lower Parel Follows

MUMBAI: The K-East ward, covering Andheri East, has become the top contributor to property tax in Mumbai for the 2025-26 fiscal year, with the BMC recording its highest-ever collection of ₹7,610.9 crore. According to civic data, the K-East ward topped the collections with ₹719.2 crore, followed by G-South (Lower Parel and nearby areas) at ₹670.6 crore, K-West (Andheri West) at ₹622.2 crore, H-East (Kalina and Bandra East) at ₹577.8 crore, and H-West (Bandra West) at ₹536.6 crore. The western suburbs alone contributed ₹3,721.3 crore, while the island city and eastern suburbs accounted for ₹2,102.6 crore and ₹1,457.4 crore, respectively. The…

Latest StoriesResidential

CM Rural Housing Scheme Benefits 19,000 in Gorakhpur

Representative Image GORAKHPUR: The Chief Minister Rural Housing Scheme is transforming the dream of homeownership into reality for countless underprivileged families in the Gorakhpur division. Launched under Chief Minister Yogi Adityanath’s guidance, the scheme provides crucial support for those excluded from the Pradhan Mantri Awas Yojana-Gramin due to technical barriers. According to officials, over 19,000 beneficiaries across four districts have been included in the state scheme, with more than 17,000 already moving into their pucca homes. The government has allocated approximately Rs 219 crore for this initiative so far. Additionally, the PMAY-G has also made significant strides, with nearly 1.99…

IndustryLatest Stories

J&K Govt Finds 578 Illegal Constructions, Issues 807 Permits: CM

Representative AI image JAMMU: The Jammu and Kashmir government announced on Wednesday that the Tourism Development Authorities have approved 807 building permits over the past three years, while identifying 578 illegal constructions across the Union Territory. In response to a question from PDP MLA Waheed-ur-Rehman Para in the Assembly, Chief Minister Omar Abdullah, who oversees the Tourism Department, provided the following breakdown: 245 permits in 2023-24, 147 in 2024-25, and 415 in 2025-26. Abdullah also categorized the permits issued, revealing that 544 were for residential houses, 121 for commercial constructions, 26 for hotels, 14 for huts, and two for guesthouses.…

Latest StoriesRera

Haryana RERA Dismisses Buyers’ Complaint for DLF Corporate Greens

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has issued two significant rulings. In the first case concerning DLF Corporate Greens, HRera determined that the project, completed before the RERA framework began, does not qualify as an “ongoing project” and therefore does not need to be registered under the Act. Buyers had raised issues regarding delays in possession and disputed additional charges. The second ruling, involving Emaar India Ltd, emphasized that HRera cannot re-evaluate its own decisions or those made by the appellate tribunal. In this instance, two complainants reported a delay of nearly four years and eight months between…

Latest StoriesRegulatory

Delhi’s Property Tax Collection Exceeds ₹3,100 Crore in FY26

NEW DELHI: The Municipal Corporation of Delhi (MCD) has reported a 46% increase in property tax collection for the fiscal year 2025-26, attributing this rise to enhanced compliance, enforcement initiatives, and the property amnesty scheme. According to a statement from the civic body released on Wednesday, property tax collections rose by 46.12% to Rs 3,116.62 crore in FY26, compared to Rs 2,132.89 crore in the previous year. The number of taxpayers has grown by 19.36%, reaching 1,352,562 in 2025-26, up from 1,133,161 the prior year, the statement noted. The majority of the revenue came from the property tax amnesty scheme,…

IndustryLatest Stories

Creditors’ Committee Can Engage Land Authorities in Realty Insolvency

File Photo NEW DELHI: On Wednesday, Finance Minister Nirmala Sitharaman announced that the committee of creditors (CoC) will now be able to invite land authorities to its meetings for discussions regarding regulatory and land-related issues under the insolvency regulations. This move aims to expedite the resolution of bankruptcy cases involving numerous real estate projects. While addressing the Rajya Sabha on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, Sitharaman stated that the amendments narrow the scope of adjudication for case admissions and set stricter timelines to accelerate resolution and enhance the value of stressed assets. The Rajya Sabha has passed…

Latest StoriesRegulatory

Parliament amends IBC to speed up resolution and cut backlog

NEW DELHI: On Wednesday, Parliament passed amendments to the Insolvency and Bankruptcy Code (IBC), aimed at expediting resolutions, decreasing case backlog, and enhancing the financial ecosystem. The Rajya Sabha approved the Insolvency and Bankruptcy Code (Amendment) Bill, 2026, through a voice vote, having received Lok Sabha approval on March 30. During a brief discussion in the Rajya Sabha, Finance Minister Nirmala Sitharaman remarked that the IBC has positively impacted the health of the Indian banking sector and facilitated asset recovery. Sitharaman, also the Minister of Corporate Affairs, stated that the government accepted all 11 recommendations proposed by a Lok Sabha…