Category: Latest Stories

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Latest StoriesRegulatory

Delhi civic body holds 1,800+ tax camps for amnesty scheme

NEW DELHI: The MCD has launched 1,862 property tax camps across its 12 zones to help property owners file their taxes and take advantage of the Property Tax Amnesty Scheme introduced in May. As per MCD officials, over 48,546 taxpayers have benefited from these camps so far. The civic authority plans to conduct more camps in the coming days to further extend the advantages of the Property Tax Amnesty Scheme for 2025-26 and the Sumpattikar Niptaan Yojana (SUNIYO). Taxpayers or Resident Welfare Associations (RWAs) can contact their zonal offices to request a camp in their locality. “We have successfully conducted…

IndustryLatest Stories

Ghaziabad DM Orders Review of Circle Rates Amid Tax Dispute

AI-generated Representative Image GHAZIABAD: Property prices in Ghaziabad may be set for another rise, as the district administration has begun a review of circle rates, potentially leading to adjustments later this year. District Magistrate Deepak Meena has instructed the stamp and registration department to perform a detailed analysis of government-notified land values, which are used to determine stamp duty. The findings are expected to be submitted within 15 working days. During a review meeting on Friday, Meena emphasized, “The survey needs to thoroughly evaluate all key factors affecting prices in residential, commercial, and agricultural areas. Any revisions will be based…

Latest StoriesResidential

Study: 2.6 Lakh Hyderabad Homes at Fire Risk

Representative image created by AI A recent study has revealed that 1.3 million residents across 260,000 households in Hyderabad are at a significantly high risk of fire accidents. This report, titled ‘Hotspot Analysis of Structure Fires in Urban Agglomerations: A Case Study of Hyderabad,’ comes during a time of rising incidents of fire in both residential and commercial sectors. Conducted by geography professors from Osmania University and Nizam College, along with the Institute for Excellence in Higher Education in Bhopal, it was published in the Asian Journal of Geographical Research. The research highlights that densely populated areas with a mix…

InfrastructureLatest Stories

Land Pooling Begins for Indore-Pithampur Economic Corridor

AI-generated Representative Image INDORE: The Madhya Pradesh Industrial Development Corporation (MPIDC) has initiated land pooling for the proposed 19.60 km Indore-Pithampur Economic Corridor, which will host commercial and industrial ventures along both sides. This infrastructure project aims to improve connectivity between Pithampur, the airport, and other vital urban areas, thereby facilitating commercial and industrial growth in the state. MPIDC’s Indore Executive Director, Himanshu Prajapati, stated, “The layout for the proposed corridor has been finalized, and we have begun the land pooling process. We have received consents for over 250 acres and are actively collecting documents from landowners.” The corridor will…

InfrastructureLatest Stories

CRDA Approves 20,494 Acres for Amaravati Capital Region

AI-generated Representative Image AMARAVATI: At the 50th meeting of the Capital Region Development Authority (CRDA) led by Chief Minister N Chandrababu Naidu on Saturday, the authority approved the pooling of an additional 20,494 acres from seven villages in the greenfield capital of Amaravati. According to an official press release, this land will come from four villages in Amaravati mandal and three in Thullur mandal. The press release stated, “CRDA Authority approved land pooling of an additional 20,494 acres from four villages in Amaravati mandal and three villages in Thullur mandal.” With a current land bank of 54,000 acres set aside…

Latest StoriesRegulatory

Prayagraj Unifies Property, Water & Sewer Taxes into One Bill

PRAYAGRAJ: In a significant step towards enhancing the taxation process for local residents, the Prayagraj Municipal Corporation (PMC) is set to roll out a unified billing system. This new system will merge property tax, water tax, and sewer tax into a single bill. The implementation of this system is projected to occur within the next week, after the successful completion of the software’s final testing phase. PK Mishra, the chief tax assessment officer, indicated that all necessary data from the municipal and water departments has been integrated, with essential updates made to the corporation’s official website and mobile app. This…

IndustryLatest Stories

Lenders Deny Jaypee Infratech’s Bid to Acquire Bankrupt Firm

NEW DELHI: Creditors of Jaiprakash Associates Ltd (JAL) have declined Jaypee Infratech’s bid to accept its resolution plan for the acquisition of the financially troubled company. Five firms—Adani Enterprises, Vedanta Group, Dalmia Bharat Cement, Jindal Power, and PNC Infratech—have put forth their plans for JAL’s acquisition. On June 25, JAL’s lenders rejected Jaypee Infratech’s resolution plan from Suraksha Group, citing its late submission and lack of earnest money. Sources indicate that Jaypee Infratech has requested the Committee of Creditors (CoC) of JAL to reconsider their decision and allow participation in the insolvency process. During a meeting on July 1, CoC…

CommercialLatest Stories

Smartworks Coworking IPO Launches July 10

NEW DELHI: Smartworks Coworking Spaces is gearing up to launch its public share sale on July 10. The initial public offering (IPO) will run until July 14, with anchor investor bidding set for a single day on July 9, as detailed in the red herring prospectus (RHP). The IPO size has been revised downwards; the fresh issue is now Rs 445 crore, decreased from the previously planned Rs 550 crore, and the offer for sale (OFS) has been adjusted to 33.79 lakh shares from 67.59 lakh shares. Approximately Rs 226 crore of the total proceeds will be allocated for capital…

InfrastructureLatest Stories

Wayanad Township Set for Completion by December 2025: Minister

AI-generated Representative Image KOZHIKODE: Revenue Minister K Rajan announced that the housing project for the victims of the Mundakkai-Chooralmala disaster at Elstone Estate will be completed by December 2025. The development will accommodate over 1,662 individuals in 410 houses, with 140 residents each receiving a seven-cent plot. Rajan revealed that the government has allocated ₹108 crore for rehabilitation efforts and called for increased machinery use to remove debris from Punnapuzha. The minister disclosed that ₹3.6 crore has been earmarked for Kudumbashree’s micro plan, and ₹43.7 crore has been spent on acquiring land at Elstone Estate. Furthermore, a total of ₹13.3…

Latest StoriesRegulatory

Delhi HC Dismisses Plea to Oversee ED Probe into IREO Residences

NEW DELHI: The Delhi High Court has affirmed the Enforcement Directorate’s investigation into the real estate company IREO Residences and dismissed a petition claiming bias against the agency. Justice Manmeet Pritam Singh Arora issued the ruling on Wednesday, criticizing petitioner Gulshan Babbar for omitting vital information and imposing a fine of Rs 1.25 lakh for misleading the court. Babbar alleged that the Enforcement Directorate had failed to properly investigate financial discrepancies amounting to Rs 1,317 crore related to bank loans and land transactions in Gurugram. The High Court dismissed Babbar’s petitions due to lack of standing and maintainability. Published On…