Category: Latest Stories

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Latest StoriesRegulatory

Sambhajinagar to Create Cell for Recovering Property Tax Dues

CHHATRAPATI SAMBHAJINAGAR: The Chhatrapati Sambhajinagar Municipal Corporation (CSMC) is establishing a dedicated cell to recover outstanding property taxes from 493 government entities, totaling approximately Rs 30 crore. During a review meeting on Monday evening, Municipal Commissioner Amod Yedge announced that the new cell will facilitate swift recovery actions through rigorous follow-ups with defaulting establishments. While the full list of defaulters has not been released, officials indicated that it could be disclosed if payments are not made. Yedge evaluated tax assessments, progress in recovery campaigns, and other pending dues during the meeting. He cautioned officials from Zones 9 and 4 for…

Latest StoriesResidential

Punjab to draft relief policy for unauthorized colonies: CM

CHANDIGARH: Chief Minister Bhagwant Mann announced on Wednesday that the Punjab government is developing a policy aimed at assisting those who invested their savings in unauthorized colonies. He noted that numerous residents across Punjab have been adversely affected by fraudulent developers who sold illegal properties, leaving them with legal and infrastructure challenges. “Thousands of innocent families invested their life savings into these plots, only to find themselves unable to sell the land or secure registrations. They are also lacking basic amenities such as electricity, water, and sewer connections. These individuals are victims and deserve justice,” Mann stated. “Fraudulent developers misled…

Latest StoriesRegulatory

ED Probes Jalandhar Businessman’s Properties Further

JALANDHAR: The Enforcement Directorate (ED) continued its search on Wednesday at the offices and home of Amit Bajaj, a local contractor linked to municipal projects and known to have ties with the Aam Aadmi Party (AAP). Bajaj is reportedly involved in various projects for the Jalandhar municipal corporation and other government initiatives. The searches are part of an ongoing money laundering investigation related to Hampton Sky Realty Ltd, a firm allegedly associated with former Punjab minister Sanjeev Arora and his family, with Arora having been arrested by the ED last month. According to ED sources, operations were conducted at six…

Latest StoriesResidential

Gurugram Man Arrested for Defrauding 242 Home Buyers

GURUGRAM: The Economic Offences Wing of Haryana Police has apprehended a 33-year-old man, Anubhav Bhardwaj, for allegedly defrauding individuals under the guise of providing flats in a housing society located in Sector 55. Bhardwaj, who resides in Mohan Garden, Delhi, was taken into custody on June 8 at Delhi Airport, reportedly while preparing to travel to Indonesia. A lookout circular had been issued against him last year. Authorities reported that a case was initiated at the Sector 56 police station following a woman’s complaint. She claimed she was persuaded by her husband’s former colleague, Ishpal Bhardwaj, to invest in a…

Latest StoriesRegulatory

NGT Urges UP to Investigate Noida Realty’s Water Illegality

NOIDA: The National Green Tribunal has instructed the state groundwater department to investigate reports of illegal groundwater extraction by real estate developers in Noida and Greater Noida. The tribunal has also mandated that appropriate remedial and punitive measures be taken if any violations are identified. This directive followed a petition from activist Vikrant Tongad, who claimed that builders are excessively dewatering for deep excavations associated with high-rise constructions. The department has been tasked with completing this investigation within three months. The order was issued on May 27, responding to Tongad’s application filed earlier this year, which highlighted unauthorized groundwater extraction…

InfrastructureLatest Stories

Delhi’s 2041 Plan: Fast Trains and New Townships Ahead

NEW DELHI: The National Capital Region’s Regional Plan 2041 proposes the establishment of up to eight new greenfield townships along with a high-speed transport network aimed at facilitating travel between Delhi and key NCR cities within 30 minutes. This draft plan, which will be reviewed during the NCR Planning Board (NCRPB) meeting on June 16, sets out a long-term strategy for decentralized urban expansion by creating new economic and residential hubs in Uttar Pradesh, Haryana, and Rajasthan. The initiative highlights the need for new settlements to be self-sustaining and furnished with modern civic infrastructure, taking cues from leading smart city…

Latest StoriesRegulatory

NCLT Admits Insolvency Case from 176 Raheja Revanta Buyers

GURUGRAM: The principal bench of the National Company Law Tribunal (NCLT) has admitted an insolvency petition from 176 homebuyers of Raheja Developers’ Revanta project in Sector 78. The tribunal found a prima facie case of default, noting the developer failed to deliver possession despite significant payments made by the allottees. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) by Surinder Aggarwal and 175 other allottees who collectively hold 99 units in the luxury residential project. They reported that they had paid over Rs 137 crore for their flats, with many having settled up to…

IndustryLatest Stories

Maharashtra Decentralises Land Approvals to Accelerate Projects

The Maharashtra government has enhanced the authority of district collectors and divisional commissioners to approve government land transactions. This initiative aims to minimize bureaucratic delays and accelerate investment and redevelopment initiatives throughout the state. As stated in a government resolution (GR) from the Revenue and Forest Department, the delegation of powers under Section 37A of the Maharashtra Land Revenue Code, 1966 has been updated. This allows district-level and divisional authorities to authorize a broader range of land-related proposals without needing state government approval. The move is designed to improve the business environment and hasten approvals for industrial, infrastructure, housing, and…

IndustryLatest Stories

Maharashtra to Launch New Rates for Towers and Slums Post-Survey

MUMBAI: Maharashtra will implement distinct Ready Reckoner (RR) rates for high-rises and slum clusters within the same area, following a statewide micro-zoning initiative aimed at enhancing the realism and fairness of property valuations, announced Revenue Minister Chandrashekhar Bawankule on Wednesday. This decision, revealed on the 12th anniversary of Prime Minister Narendra Modi’s tenure, seeks to aid middle-class homebuyers and slum dwellers currently subjected to uniform valuation rates, despite significant differences in infrastructure and amenities. Bawankule noted that the Maharashtra government has initiated a three-phase survey program for micro-zoning, entrusting the Maharashtra Remote Sensing Application Centre to carry out the task…

IndustryLatest Stories

Reliance Consortium Wins 101-Acre Mumbai Slum Redevelopment Bid

MUMBAI: A consortium led by Reliance Industries’ subsidiary, Reliance 4IR Realty Development, in collaboration with Mahadev Realtors Juhu, has successfully won the bid for the redevelopment of the 101.36-acre Juhu Galli slum cluster in Andheri (West), making it one of the largest slum redevelopment projects in Mumbai. The tender process was overseen by the Slum Rehabilitation Authority (SRA) and drew bids from major corporate groups, including Reliance, JSW, and the Shapoorji Pallonji Group. The Reliance-led consortium emerged victorious in the bidding process. The redevelopment plan aims to construct over 28,000 homes for eligible slum residents. This initiative falls under the…