Category: Latest Stories

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IndustryLatest Stories

Signature Global India Q1 FY26 Net Profit at ₹34.43 Crore

NEW DELHI: Signatureglobal (India) has reported a consolidated net profit after tax of ₹34.43 crore for the quarter ending June 30, 2025, a significant increase from ₹6.79 crore in the same quarter last year, according to a BSE filing. The company’s total net consolidated income for Q1 FY26 reached ₹898.35 crore, marking a 109.90% growth from ₹427.98 crore recorded in the same period last year. Pradeep Kumar Aggarwal, chairman and whole-time director of the company, stated, “Capitalizing on the strong momentum from FY25, we achieved impressive performance in the first quarter of FY26, with our operational revenue doubling year-on-year.” The…

InfrastructureLatest Stories

Maharashtra Funds Approved for Land Survey Rovers

Representative image created by AI MUMBAI: The Maharashtra government has approved a Rs 1,732 crore initiative to modernize land survey operations and enhance infrastructure for the revenue and land records departments. Under this plan, Rs 132 crore will be designated for acquiring 1,200 advanced rovers to improve land measurement efficiency as part of the e-Survey 2.0 project. Furthermore, Rs 1,600 crore has been allocated for the construction of new office buildings and residential accommodations for revenue officials, as per a statement from Revenue Minister Chandrashekhar Bawankule’s office. This decision was made during a high-level meeting led by Deputy Chief Minister…

Latest StoriesRegulatory

Goa Proposes Bill to Lower Stamp Duty in Certain Cases

PANAJI: On Wednesday, the state government introduced a bill aimed at reducing the stamp duty burden on mortgagors for properties mortgaged without possession. The bill also seeks to promote the registration of family trust deeds. According to the Indian Stamp (Goa Amendment) Bill, 2025, the proposed reduction in stamp duty for mortgages and trusts may impact state revenue, but the exact loss cannot be quantified at this time. This initiative is part of a broader effort to rationalize stamp duty on such instruments. The bill establishes a stamp duty of Rs 1,000 for mortgage deeds, excluding certain agreements (e.g., title…

Latest StoriesRegulatory

Telangana HC Probes Alleged Illegal Builds at Nandagiri Hills

HYDERABAD: Justice K Lakshman of the Telangana High Court ordered the principal secretary of the Municipal Administration and Urban Development (MA&UD) Department to launch a thorough investigation into the alleged illegal constructions by M/s Net Net Ventures at Nandagiri Hills in Jubilee Hills. The ruling came in response to a petition from the Nandagiri Hills Cooperative House Building Society urging the Greater Hyderabad Municipal Corporation (GHMC) and other authorities to take action based on a Vigilance & Enforcement (V&E) report dated June 18, 2024, which pointed out significant building code violations by Net Net Ventures. Some notable violations include unauthorized…

Latest StoriesRegulatory

Bengaluru Body Revises OC Stance After Yearlong Delay

BENGALURU: The Bangalore Development Authority (BDA) has issued a new circular regarding rectified occupancy certificates, providing much-needed relief to home buyers. For years, many buyers struggled to obtain occupancy certificates because of the requirement to reserve 10% of flats for Economically Weaker Sections (EWS). This regulation was challenged in court, and the High Court deemed the original BDA circular from November 8, 2010, unconstitutional. While the petition was resolved on August 7, 2024, the BDA took almost a year to release the revised circular. The High Court ruled that according to Article 300A of the Indian Constitution, no individual can…

Latest StoriesRegulatory

Bombay HC Extends Tardeo Tower Eviction Deadline by Three Weeks

MUMBAI: The Bombay High Court has granted an additional three weeks for residents of the top 18 floors of the 34-storey Tardeo tower to vacate their homes. On August 1, the Supreme Court upheld the High Court’s ruling, which instructed the residents to vacate the floors without an occupancy certificate. The initial deadline was set for August 2. The Supreme Court indicated that residents could apply for an extension through the High Court. They requested four weeks, citing the need for alternate housing for their school-going children. The High Court granted the extension, noting it as a ‘mercy plea,’ and…

IndustryLatest Stories

RBI Holds Interest Rate Steady at 5.5%

MUMBAI: The Reserve Bank of India (RBI) has maintained the policy rate at 5.5% following three consecutive interest rate cuts, citing concerns over tariff fluctuations. In the announcement of the third bi-monthly monetary policy for the fiscal year, RBI Governor Sanjay Malhotra shared that the growth rate forecast for FY26 remains at 6.5%. The Monetary Policy Committee (MPC) unanimously opted to keep the short-term lending rate, or repo rate, steady at 5.5% with a neutral stance. Regarding inflation, the RBI Governor reduced the projection for the current financial year to 3.1%, down from the previous estimate of 3.7%. Since February…

IndustryLatest Stories

RBI Keeps FY26 Growth at 6.5%, Lowers Inflation to 3.1%

MUMBAI: The Reserve Bank of India announced on Wednesday that it is maintaining its GDP growth forecast for the current fiscal year at 6.5%, while reducing its inflation projection from 3.7% to 3.1%. During the release of the third bi-monthly monetary policy for 2025-26, RBI Governor Sanjay Malhotra noted that the favorable southwest monsoon, declining inflation, increasing capacity utilization, and supportive financial conditions are all contributing positively to domestic economic activity. The combination of strong monetary, regulatory, and fiscal policies, alongside significant government capital spending, is expected to drive demand. The services sector is predicted to maintain robust growth, particularly…

InfrastructureLatest Stories

Hyderabad Civic Body Cracks Down on Illegal Constructions

Representative image Following instructions from the Telangana High Court, the Greater Hyderabad Municipal Corporation (GHMC) has intensified its efforts against illegal constructions and unauthorized floors throughout the city. Since January, the civic body has identified 1,538 illegal structures, issued 1,517 show cause notices, demolished 204, and sealed 93 buildings. Officials noted that the majority of these violations involve unauthorized floors, encroachments, and construction without proper permissions, often deviating from sanctioned plans and disregarding setback regulations. “In numerous areas, property owners obtain approvals for two or three floors but end up constructing seven or eight,” a senior GHMC town planning official…

IndustryLatest Stories

SEIAA & SEAC Dissolution Delays Delhi Environmental Approvals

NEW DELHI: The dissolution of the State Level Environment Impact Assessment Authority (SEIAA) and the State Level Expert Appraisal Committee (SEAC) has resulted in delays in the issuance of environmental clearances, according to a builder’s statement to the National Green Tribunal (NGT) on July 31. In an affidavit to the NGT, the Delhi Pollution Control Committee (DPCC) noted that the state is unable to issue environmental clearances because both authorities are currently inactive. Consequently, the Union Ministry of Environment is now responsible for granting these clearances. The NGT is reviewing a plea from a builder who applied for environmental clearance…