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Latest StoriesRegulatory

Nagpur Civic Body Gathers ₹89 Crore in Q1 FY26 Tax

NAGPUR: In the first quarter of the 2025–26 financial year, approximately 22.98% of the 8.36 lakh property owners in Nagpur took advantage of the rebate scheme introduced by the Nagpur Municipal Corporation (NMC). This scheme offers a 15% rebate for online payments and 10% for offline payments. From April 1 to June 30, a total of 1,92,324 taxpayers contributed Rs 88.85 crore in property tax. Among these, 96,993 property owners utilized online platforms—including the NMC website, the My Nagpur mobile app, and a WhatsApp chatbot—contributing Rs 49.92 crore. The remaining 95,331 taxpayers paid Rs 35.97 crore at zonal offices and…

IndustryLatest Stories

Adani Properties Secures NCLT Approval for HDIL Assets

MUMBAI: The National Company Law Tribunal (NCLT) has given the green light to Adani Properties for the acquisition of two assets from the insolvent Housing Development and Infrastructure (HDIL) as part of the corporate insolvency resolution process (CIRP). The acquired assets include a commercial property named ‘Inspire BKC’ located in Mumbai’s Bandra-Kurla Complex and a piece of land situated in Kalyan Shahad on the outskirts of Mumbai. Adani Properties was identified as the sole bidder submitting a proposal compliant with the Insolvency and Bankruptcy Code (IBC) for both assets. The resolution plan for the Inspire BKC project is appraised at…

Latest StoriesResidential

Chandigarh Civic Body Approves Manimajra Housing Plan & Ads

CHANDIGARH: On Monday, the MC general house approved two significant revenue-generating proposals: the terms for the Manimajra housing scheme and the establishment of 53 new advertisement sites/unipoles. The civic authority will forward the meeting minutes to the Chandigarh administration, and upon approval, will initiate the project. The Manimajra initiative will span over 7.5 acres across five parcels in pocket number 6. Land allotment can be conducted jointly or individually to ensure project viability. Terms and conditions have taken into account all administrative, legal, financial, and engineering considerations for the housing project. The MC has specified that no fragmentation or amalgamation…

Latest StoriesRera

Planning Authorities to Notify Odisha RERA on Housing Approvals

BHUBANESWAR: The Housing and Urban Development Department has mandated that all planning authorities, including the Bhubaneswar Municipal Corporation, must notify the Odisha Real Estate Regulatory Authority (ORERA) regarding plan approvals for various housing and plotting projects. This step will facilitate ORERA’s follow-ups on developers’ activities. This initiative follows Prime Minister Narendra Modi’s recommendation during a Pragati review meeting for state governments to enhance ORERA’s effectiveness and ensure the enforcement of its orders for the benefit of homebuyers. Sources indicate that the ORERA chairperson recently communicated an eight-point agenda to the Chief Secretary aimed at reinforcing ORERA’s operations, including the requirement…

CommercialLatest Stories

Shortage of Grade-A Office Space Hampers Hi-Tech City, Hyderabad

HYDERABAD: Heineken’s decision to establish a global capability center (GCC) in Hyderabad with an investment of nearly Rs 3,000 crore has proven challenging, as securing space in the bustling IT hub of HITEC City has become increasingly difficult. Sources indicate that this trendy area, often compared to San Francisco’s Bay Area, is almost fully leased out in terms of Grade A office space. Notable developments in HITEC City include Sattva Group’s Knowledge Park and Knowledge City, RMZ’s Nexity, Raheja Mindspace, and CapitaLand Park, along with individual projects by Auro Realty and My Home Group. Recently, McDonald’s acquired approximately 200,000 sq…

Housing FinanceLatest Stories

35% Drop in Home Loan Borrowers, Avg Mortgage Rises in Gujarat

AHMEDABAD: Gujarat’s housing finance landscape is revealing an interesting trend — while the total amount of loans being disbursed is increasing, the number of borrowers is on the decline. In FY 2025, the total housing finance in the state rose by 8.9%, reaching Rs 58,399 crore, up from Rs 53,590 crore in FY 2024. Conversely, the number of loan accounts plummeted by over 35%, from 6.9 lakh to just 4.46 lakh, according to the State Level Bankers’ Committee (SLBC) – Gujarat. The figures indicate a shift: fewer individuals are purchasing homes, yet those who do are borrowing larger amounts. The…

InfrastructureLatest Stories

Abhay Khand Residents in Ghaziabad Seek Civic Solutions

GHAZIABAD: Residents of GDA flats in Abhay Khand, Indirapuram, are confronting various civic challenges, including blocked sewers, crumbling roads, encroached green spaces, and tainted water supply. They’ve been waiting for a service road in the area for the past 12 years, in addition to a reliable security system. “The flats were registered as residential properties, yet commercial activities are rampant,” Bhuwan Rawat, a local resident, expressed to TOI. GDA flats are part of the broader Indirapuram Yojna developed by the Ghaziabad Development Authority (GDA), featuring numerous residential units. Abhay Khand is a sought-after residential neighborhood within Indirapuram, primarily known for…

Latest StoriesRegulatory

Ranchi collects record ₹39 crore in property tax in Q1 FY26

RANCHI: The Ranchi Municipal Corporation (RMC) achieved a record property tax collection of Rs 39.33 crore in the first quarter (April to June) of the 2025-26 fiscal year, serving 81,320 taxpayers, according to official data. The surge in collections is attributed to several factors, including a tiered rebate scheme, increased digital engagement, extended door-to-door collection, and payment facilitation centers. Taxpayers could avail a 10% rebate on lump-sum payments until June 30, with previous slabs in April and May offering rebates of 3%, 5%, and 7%. Of the total, Rs 20.27 crore was gathered through door-to-door efforts involving over 53,500 taxpayers.…

IndustryLatest Stories

Notices to 266 for Home Business Operations & Code Violations

AI-generated Representative Image GURUGRAM: For the third week in a row, the district town planner (enforcement) team conducted an “office on the spot” drive in Sushant Lok phases 2 and 3. Approximately 266 notices were affixed to homes that violated building guidelines, zoning laws, and occupancy certificate regulations. Of these, 183 violations were found in phase 3 and 83 in phase 2, bringing the total to over 650 notices issued in the last three weeks. Led by DTP (enforcement) Amit Madholia, the team performed a door-to-door survey in Sectors 55, 56, and 57 to pinpoint properties being used for commercial…

Latest StoriesResidential

People’s Education Society Acquires Bengaluru Properties for ₹110 Crore

The People’s Education Society (PES), the organization behind PES University, has acquired two independent houses in the Sadashivanagar region of Bengaluru for a total of Rs 110 crore. Analysts indicate that these transactions highlight the ongoing demand from institutions and high-net-worth individuals in the city’s premium micro markets. On April 1, PES, represented by COO Ajoy Kumar, purchased a 9,840 sq ft independent house for Rs 55.5 crore from Woodkraft India. Previously, on January 22, the society, with representation from PES University Chancellor Jawahar Doreswamy, bought an adjacent house with a built-up area of 5,575 sq ft on the same…