Category: Latest Stories

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InfrastructureLatest Stories

Telangana Launches Bharat Future City for 30 Lakh Residents

HYDERABAD: The Telangana government has announced plans for Bharat Future City, which will span 30,000 acres and is expected to house approximately 2.5 to 3 million residents. The government is preparing a comprehensive master plan for the project. For the first time, these plans were officially disclosed in the socio-economic survey for 2026. The proposed plan includes a central business district (CBD) with four catalytic zones: an AI city covering 300 acres, a healthcare city across 200 acres, an education hub over 500 acres, and a life sciences center encompassing roughly 3,000 acres, all equipped with district cooling systems and…

Latest StoriesRegulatory

Pune: PMC Acts on 4,000 Bounced Cheque Cases for Property Tax

PUNE: The Property Tax Department of Pune Municipal Corporation (PMC) has issued a warning to property owners regarding strict legal consequences for dishonoured tax payment cheques, as the number of such cases has been rising. Civic officials reported that over 4,200 cheque bounce instances have been recorded this financial year. Following persistent follow-ups, about 3,600 owners have settled their payments. Now, the civic body plans to take legal action against the remaining 600 defaulters under the Negotiable Instruments Act, 1881, which governs cheque dishonour offences. Ravi Pawar, head of the PMC’s Property Tax Department, stated that despite numerous reminders, some…

Latest StoriesRegulatory

Goa Commission Tells Dimension Builders to Create Flat Owners’ Society

PANAJI: The North Goa District Consumer Dispute Redressal Commission has directed a builder to establish a society or association of flat owners within three months for managing the property. Should the builder fail to meet this deadline, flat owners may independently create the society. This ruling followed a complaint from A M Ashwinkumar, a Carambolim resident who purchased two single-bedroom flats on the first floor of Dimension Residency from Dimension Builders in 2010 for his elderly parents. Ashwinkumar reported that upon moving in during June 2012, he discovered issues with the bathroom tiles, which were not properly fitted or aligned.…

IndustryLatest Stories

Is Hyderabad’s ‘Far West’ Growth Sustainable?

Representative AI image HYDERABAD: Just a few minutes off the eight-lane Outer Ring Road (ORR) at Exit 2, the scene shifts markedly in Greater Hyderabad. The skyline flattens, roads narrow and become dusty, lighting is sparse, and shops are few and far between. However, there’s no shortage of billboards advertising new residential projects, ongoing constructions, and local property broker offices. These promotional materials come with enticing offers: “Pay nothing until completion,” “20% now, 20% annually,” and “Zero GST.” As you drive from Kollur towards Patancheru, pass through Mokila (northwest) and Tellapur (southwest), the landscape remains virtually unchanged. This area is…

Latest StoriesRegulatory

Bombay HC Overturns DRT Stay on Bank-Auctioned Flat Sale

MUMBAI: The Bombay High Court recently overturned a Debt Recovery Tribunal (DRT) order that halted further post-sale actions regarding a bank’s auction of a flat in South Mumbai. The Court noted a “disturbing trend” where borrowers and “chronic defaulters” often act passively while banks pursue recovery. These defaulters typically invoke “collusive proceedings” under insolvency laws only when it’s time for auction purchasers to take physical possession of the property. In a ruling dated March 18, Justices Manish Pitale and Shreeram Shirsat expressed concern over the misuse of the Insolvency and Bankruptcy Code (IBC). They pointed out that borrowers often claim…

IndustryLatest Stories

Manufacturing Demand Spurs Development of Industrial Townships

Property developers are increasingly focusing on integrated industrial townships to leverage the government’s goal of boosting manufacturing’s share to 25% of GDP by 2035. Experts suggest this shift will enhance demand for industrial plots as a viable investment option. Major developers like M3M, Signature Global, Reliance, and LML Realty are actively creating industrial townships in the NCR. In the southern region, Brigade Group has launched Brigade Industrial Park, a 25-acre project in Devanahalli, North Bengaluru, as part of its expansion into industrial real estate. “Much of the activity is concentrated in a few locations where infrastructure, connectivity, and execution align…

IndustryLatest Stories

ED Flags Indian Credit Card Transactions for Dubai Real Estate

MUMBAI: As rain dampens Dubai, the property market faces stress, prompting Indian buyers who used credit cards for their purchases in Dubai to receive notices from the Enforcement Directorate (ED). These buyers often used international credit cards (ICCs) during their visits to the Emirates for initial deposits or clicked on developer-sent payment links, likely unaware that they were violating Indian laws. Sources indicate that at least three individuals received notices from the ED in February, inquiring about the source of their funds for these transactions. Credit card transactions are treated as short-term loans, and foreign exchange regulations restrict individuals from…

IndustryLatest Stories

Global Investors Target GIFT City Amid West Asia Tensions

MUMBAI: Growing geopolitical tensions in West Asia are leading some global investors and non-resident Indians to reevaluate their concentrated investments in Dubai. This has resulted in increased inquiries about India’s International Financial Services Centre at GIFT City. While Dubai continues to be a major capital hub for wealth management and investments, recent market volatility is prompting a diversification strategy, as investors look for jurisdictions that offer regulatory stability and are closer to growth markets like India. “The geopolitical instability in West Asia is reflected in the rising interest for office space at GIFT City, particularly among institutions and intermediaries who…

CommercialLatest Stories

Embassy REIT Aims for 13M sq ft in Acquisitions to Boost Income

BENGALURU: Embassy Office Parks REIT, India’s first publicly listed real estate investment trust, is assessing a pipeline of 12-13 million sq ft, with around 4 million sq ft from its sponsor, as it aims to expand its portfolio and improve long-term income visibility. This decision comes after raising Rs 9,800 crore in capital during FY26 and establishing a Rs 4,000 crore development pipeline, positioning the REIT to acquire yield-accretive, income-generating Grade A assets. The trust’s real estate portfolio surpasses 50 million sq ft. “We are actively assessing a pipeline of approximately 12-13 msf… Inorganic growth will continue to be crucial…

IndustryLatest Stories

Telangana Revises Building Rules, Boosts TDR Utilization

HYDERABAD: The Telangana government has revised the Building Rules of 2012, enhancing the usage of transferable development rights (TDR) and relaxing current building parameters. These changes are expected to spur real estate activity in Hyderabad and surrounding urban areas, offering builders increased flexibility in their projects. The recent order from the Municipal Administration and Urban Development (MA&UD) department, issued in GO 95 on Saturday, clarifies the definition of high-rise buildings as those reaching 21 meters or more, excluding components like chimneys and water tanks. This adjustment comes following numerous requests to optimize TDR usage and introduce more flexible construction standards.…