Category: Latest Stories

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Latest StoriesResidential

Sukhpal Ahluwalia buys 11,000 sq ft flat in DLF’s Camellias for ₹100 crore

NEW DELHI: British entrepreneur Sukhpal Singh Ahluwalia has purchased an 11,416 sq ft apartment at The Camellias, DLF’s luxury residential development in Gurugram, for ₹100 crore, according to sources familiar with the transaction. Ahluwalia, who sold his business Euro Car Parts, now leads Dominvs Group, a real estate, hospitality, and asset management firm based in London. This represents the third ₹100-crore transaction within the upscale residential complex, which is home to several affluent residents. This trend highlights the ongoing post-pandemic demand for luxury housing in India. Previously, Info-x Software Technology Pvt Ltd, represented by its director Rishi Parti, acquired a…

IndustryLatest Stories

Tax Settlement Scheme Deadline in Ludhiana Extended Again

Representative image created by AI LUDHIANA: The deadline for the one-time settlement scheme for property tax dues has been extended for the third time, allowing residents to settle outstanding dues without any interest or penalties until the end of August. The municipal corporation has so far collected ₹19 crore from this scheme. However, against an annual property tax target of ₹160 crore for this fiscal year, officials have collected ₹43 crore to date. They aim to enhance the collection efforts next month when individuals are expected to pay their taxes for the current fiscal year to benefit from a 10%…

IndustryLatest Stories

Property Tax Camp in Madurai on August 25-26

MADURAI: The Madurai corporation will host its monthly special camp addressing tax-related issues on August 25 and 26, from 10 AM to 2 PM at the Pillar Hall in Arignar Anna Maligai. This initiative is set to assist all 100 wards across five zones, providing various services such as property tax name changes, new property tax assessments, vacant house tax levies, new underground sewer connections, new drinking water connections, issuance of industrial licenses, billboard permissions, and applications for converting residential properties to commercial use. The Corporation encourages residents to take advantage of this special camp, promising that actions will be…

Latest StoriesRegulatory

Madras HC Calls for Citywide Building Assessment in Madurai

MADURAI: On Tuesday, the Madras High Court instructed the commissioner of the Madurai Corporation to set up special teams to verify the property tax assessments of all buildings within Madurai city. Following a previous order, a Special Investigation Team (SIT) led by Deputy Inspector General of Police, Abhinav Kumar, has been formed to investigate the property tax scam in Madurai Corporation. The state reported that the SIT’s investigation has gained momentum. The team has also requested property tax assessment data from the past ten years from the Director of Municipal Administration to conduct a thorough examination. A division bench, comprising…

Latest StoriesRegulatory

Lucknow Seals Buildings Over Unpaid Property Taxes

LUCKNOW: On Monday, the LMC conducted a campaign against property tax defaulters, sealing and attaching 24 buildings while recovering outstanding dues across zones 1, 3, 4, and 5. In zone 1, six properties in Astabal Chauraha, Charbagh, and Bagh Sherganj were targeted, with two properties sealed for dues of Rs 66,906 and Rs 1.9 lakh. Zone 3 had the highest number of cases, with action taken on 10 properties in Dilkusha Plaza, Faizullaganj, and Gauriganj. Two buildings were sealed due to arrears of Rs 1.73 lakh each, while recoveries included amounts of Rs 1.05 lakh, Rs 1.34 lakh, and Rs…

Latest StoriesRegulatory

Telangana HC Calls for Quick Resolution of FTL and Buffer Zone Disputes

HYDERABAD: The Telangana High Court emphasized the pressing need for a comprehensive approach to resolving disputes surrounding full tank level (FTL), buffer zones, and canals throughout the state. The court insisted that all pending petitions be addressed in a unified manner, and any necessary land acquisition should strictly adhere to government directives. The court expressed dissatisfaction over the years of delays, questioning the effectiveness of officials who allowed these issues to persist unaddressed. It highlighted the contradictory situation where revenue authorities issue land ownership documents while irrigation officials designate the same parcels as water flow paths, FTL, or buffer zones.…

IndustryLatest Stories

Farmlands Fuel Illegal Real Estate Deals near Hyderabad

Representative image created by AI HYDERABAD: The increase in land prices around Hyderabad has led to a surge in the illegal sale of government-assigned lands, particularly in Rangareddy, Medchal, and Vikarabad districts. While these lands are designated for agricultural use and cannot be transferred legally, thousands of acres are being sold, with assignees reportedly selling to real estate developers for layouts, gated communities, villas, and apartment projects. This provides quick cash for assignees and cheaper land for developers compared to the market. Officials acknowledge it’s mutually beneficial. Flagrant Violations For instance, in Mankhal village, assignees entered into an illegal agreement…

Latest StoriesRegulatory

Consumer Forum Holds Parsvanath Liable for Flat Delay

NEW DELHI: The Delhi State Consumer Disputes Redressal Commission has found Parsvanath Developers Limited at fault for inadequate service and unfair trade practices due to a significant delay in delivering a residential flat booked in 2007. Last month, the bench comprising Justice Sangita Dhingra Sehgal (president) and Pinki (judicial member) ordered Parsvanath Developers to immediately hand over the flat and compensate the complainants with a total of Rs 5.5 lakh. The complainants, Nitin Bansal and Amita Bansal, purchased a 3BHK flat from Parsvanath for Rs 27.68 lakh, following a construction-linked payment plan. They signed the flat buyer agreement on April…

IndustryLatest Stories

Hyderabad Auction Today: 7.5 Acres Expected to Fetch ₹500 Crore

Representative image created by AI HYDERABAD: The Telangana Housing Board is set to auction over 7.5 acres of prime land located in the Kukatpally Housing Board (KPHB) colony on Wednesday, anticipating nearly 500 crore in revenue from the sale. The starting price has been set at 40 crore per acre, with the e-auction scheduled to begin at 3 PM. Alongside this, 618 unfinished 3BHK flats in high-rises of nine and twelve stories at Pocharam and Gajularamaram will also be auctioned this Wednesday. The board’s confidence in achieving close to 500 crore stems from previous e-auctions, where a single quarter of…

Housing FinanceLatest Stories

Mortgage Rate War Hits Housing Finance Companies Hard

Housing finance companies (HFCs) are under considerable strain due to aggressive mortgage pricing by public sector banks, leading to reduced margins. Although loan disbursals are growing, many HFCs are not experiencing a corresponding rise in assets under management (AUM), primarily because borrowers are transferring their home loans to rival firms. In the June 2025 quarter, Bajaj Housing Finance reported a 0.5% drop in net profit, while Aadhar Housing Finance and LIC Housing Finance experienced growth rates of 10% and 5%, respectively. The recent reduction in lending rates by the Reserve Bank of India, which cut the repo rate by 100…