Category: Latest Stories

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Latest StoriesRegulatory

Chennai Civic Body Aims to Recover Loans from Property Defaulters

CHENNAI: The Greater Chennai Corporation (GCC) has recently addressed a letter to the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) regarding the low property tax collection, which stood at only 80% in the last financial year. The GCC is seeking directions that would require banks and financial institutions to include pending property tax dues when recovering loans from borrowers. To further enhance recovery rates, the GCC has also requested CERSAI to connect property tax defaults with CIBIL ratings and advise banks to deduct the owed amounts directly. GCC Commissioner G S Sameeran highlighted that there…

InfrastructureLatest Stories

Karnataka government allocates 500 acres for Bidadi township

Representative AI image BENGALURU: Despite opposition from farmers and political parties, the Karnataka government has issued the final notification for acquiring nearly 500 acres in three villages in Ramanagara and Harohalli taluks for the Greater Bengaluru Integrated Township (GBIT) project, located near Bidadi. This action demonstrates the state’s commitment to advancing one of CM DK Shivakumar’s most significant urban development initiatives. The township, which is estimated to cost over ₹20,000 crore, aims to create a large work-live-play urban hub on Bengaluru’s outskirts. Shivakumar describes it as “India’s first AI City,” envisioning a forward-looking township that would transform urban living. The…

InfrastructureLatest Stories

Kerala: Legal Issues Stall Infopark Phase III AI Development

KOCHI: The Infopark Phase III project, envisioned as India’s first integrated artificial intelligence (AI) township, faces delays due to jurisdictional and legal issues related to its proposed land-pooling model. To avoid any further postponements for this carbon-negative, water-positive, and zero-waste initiative, authorities are seeking the intervention of the state government. Specifically, they are requesting amendments to existing government orders or regulations to facilitate the land pooling process. According to Infopark CEO Susanth Kurunthil, the primary challenge arises from the project’s location, which is situated within the local panchayats of Kizhakkambalam and Kunnathunadu, entirely outside the jurisdiction of the Greater Cochin…

Latest StoriesResidential

Kolkata: NKDA Launches Door-to-Door Tax and Licence Survey

KOLKATA: The NKDA has initiated a door-to-door survey to verify the self-assessment of property tax and trade licenses for both residential and commercial properties in New Town. This survey aims to cross-check entries against NKDA records regarding tax payments and the issuance or renewal of trade licenses. On Thursday, NKDA issued a notice requesting land and building owners to provide required information and allow representatives from a chartered accountancy firm to conduct the physical verification. An NKDA official stated, “Our goal is to update our records for better assessment and valuation of property tax. Some residents have been found to…

IndustryLatest Stories

Karapur Villagers Set June 15 Deadline for Housing Project Halt

PANAJI: Residents of Karapur-Sarvan have been protesting The House of Abhinandan Lodha’s luxury housing project for 69 days. On Friday, they took their demonstration to the state capital, demanding a stop-work order from the government by Monday. Joined by St Andre MLA Viresh Borkar, the villagers marched to the environment department office, successfully bypassing heavy police security at the directorate of panchayats, and headed straight to the town and country planning (TCP) office. There, they met with environment director and Goa Coastal Zone Management Authority (GCZMA) member secretary Sachin Dessai. The delegation urged an immediate halt to construction, claiming the…

Latest StoriesRera

Probe Ordered: 25+ Patna Builders Violated Bihar RERA Rules

PATNA: The district administration, in collaboration with the local municipal body, has initiated an inspection of housing projects in the city following satellite imagery that indicated 29 builders may be violating Real Estate Regulatory Authority (RERA) regulations. This action was announced by District Magistrate Thiyagarajan S M during a coordination meeting at the Patna Collectorate on Friday, attended by officials from municipal bodies, the district administration, and RERA. Inspection teams have been instructed to assess key areas, including the Danapur–Shivala–Kanhauli road, Meethapur Elevated Bypass to Punpun via Sampatchak, and the AIIMS–Naubatpur corridor, and to report their findings quickly to facilitate…

IndustryLatest Stories

Sebi Approves Casagrand Premier Builder’s ₹1,220-Crore IPO

NEW DELHI: Casagrand Premier Builder, a prominent real estate developer, has received clearance from Sebi to raise ₹1,220 crore through an initial public offering (IPO), according to an update from the market regulator on Friday. The company submitted its draft documents to Sebi in December 2025 and received the regulator’s feedback for the IPO on June 8, 2026. In Sebi’s terminology, obtaining feedback is equated with gaining approval to launch a public offering. This Chennai-based developer’s inaugural public offering consists of a fresh issue of equity shares valued at ₹1,200 crore, alongside an offer for sale of up to ₹20…

Latest StoriesResidential

Hyderabad: Medipally HMDA Owners Protest Prohibitory List

HYDERABAD: Plot owners who bought land in a Hyderabad Metropolitan Development Authority (HMDA) layout in Medipally, Medchal-Malkajgiri, are voicing their concerns over their plots being added to a prohibitory list and the authority’s failure to provide promised amenities after three years. As these plot owners express their worries, HMDA is preparing to auction more plots in the same area on June 24. Major issues reported include the inclusion of survey number 62 in the prohibitory list, ongoing legal disputes with land assignees, encroachments affecting the area (including religious structures), and the absence of a proper access road. These concerns remain…

IndustryLatest Stories

Ahmedabad Developers Consider Price Hike on Homes Under Construction

AHMEDABAD: On June 15, real estate developers in Ahmedabad will convene to discuss potential price increases for under-construction properties due to rising construction costs caused by supply disruptions linked to the West Asia conflict. The Confederation of Real Estate Developers’ Associations of India (CREDAI), Ahmedabad, has organized this meeting. Developers are expected to discuss both the likelihood of a price hike and the magnitude of any changes. Industry insiders indicate that ready-to-move-in and completed projects will likely remain unaffected, while those initiated within the last six months might see increases in the range of 5% to 7%. As the deadline…

IndustryLatest Stories

Cycle of Encroachment and Housing Can’t Last Forever: CM

File Photo MUMBAI: In defense of the ongoing slum demolition initiative in the city, Chief Minister Devendra Fadnavis stated on Friday that the cycle of encroachment and government-provided housing cannot persist indefinitely. Responding to inquiries regarding the eviction of slum dwellers without the implementation of the Centre’s flagship Housing for All initiative, Fadnavis noted that Mumbai has seen the highest number of slum dwellers receive ownership homes in the past decade, and the government will continue this effort. However, he emphasized that the court has imposed certain conditions, stating that only eligible residents are to be allocated homes, while ineligible…