Category: Latest Stories

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IndustryLatest Stories

Tamil Nadu to set land survey guideline values by June-end

CHENNAI: Tamil Nadu’s Minister for Commercial Taxes and Registration, T Logesh Tamilselvan, has instructed officials to ensure that all land survey numbers in the state are assigned a market guideline value by the end of June. He also emphasized the need for quicker and more user-friendly registration services. The Minister issued these directives during the inaugural performance review meeting for senior officials at the 160-year-old district registrar’s office on Rajaji Salai, Chennai, on Tuesday. The meeting was attended by J. Kumaragurubaran, Secretary of Commercial Taxes, Registration, and Hindu Religious and Charitable Endowments, as well as Inspector General of Registration, G…

Latest StoriesRegulatory

ITAT Cancels ₹14 Lakh ‘On-Money’ Charge for Thane Buyer

MUMBAI: The Income Tax Appellate Tribunal (ITAT) has overturned a Rs 14.25 lakh addition made against a Thane resident concerning an alleged cash payment for a flat purchase. The tribunal concluded that the I-T department was unable to produce evidence directly linking the buyer to any “on-money” transactions. The Mumbai bench of the ITAT ruled in favor of the taxpayer, who had bought a flat in Cosmos Mary Park, Thane, jointly with his wife for Rs 72 lakh in April 2012. Following a search of Cosmos Group, the real-estate developer, I-T investigators claimed to have located records suggesting cash payments…

IndustryLatest Stories

Hyderabad: Banjara Hills ₹1,000 Crore Land Auction Dispute

Representative image HYDERABAD: A significant land auction organized by the Hyderabad Metropolitan Development Authority (HMDA) in Banjara Hills has sparked controversy, with two claimants asserting that part of the high-value government land slated for auction overlaps with their properties. The contention revolves around an 8.24-acre parcel in survey No. 102/1 of Hakeempet village, which HMDA intends to auction on June 19. This land is among the most sought-after in the city, with an estimated valuation of nearly Rs 1,000 crore. HMDA has set a base price of Rs 99 crore per acre, anticipating bids between Rs 130 crore to Rs…

Latest StoriesResidential

Gurugram: Buyers of 2016 Stalled Project Fume Over Email Claim

GURUGRAM: Homebuyers of the stalled Expressway Towers affordable housing project in Sector 109 have reached out to Haryana’s top officials, alleging the misuse of official email channels to influence proceedings related to the delayed project. In a letter addressed to Haryana chief secretary Anurag Rastogi, additional chief secretary (town and country planning) Anurag Agarwal, DTCP director Amit Khatri, and HRera Gurgaon chairman Arun Kumar, the association reported that emails from a group of 33 allottees opposing a proposed takeover of the project were shared through official channels and formed the basis for HRera’s communications to DTCP. The association is calling…

Latest StoriesRegulatory

Bombay HC: Flat Buyers Get Monthly Interest Under RERA Delay

MUMBAI: On Monday, the Bombay High Court ruled that under the Real Estate (Regulation and Development) Act (Rera), buyers have an unequivocal right to receive interest monthly for possession delays. Justice Madhav Jamdar stated that the law aims to protect buyers from delays and ensure timely construction. Developers cannot postpone possession indefinitely while evading the consequences mandated by Rera. Therefore, buyers who remain invested in a project despite delays are entitled to interest for each month of delay until they receive possession. Ten buyers sought compensation due to a delay in a Mulund project booked between 2005 and 2007. An…

Latest StoriesResidential

Indore Leads in Property Registration Revenue Generation

INDORE: Madhya Pradesh has seen an increase of approximately ₹211 crore or 12.82% in earnings from stamp duty and property registrations in the first two months of the current fiscal year. This growth is attributed to higher guideline values and rising property prices, despite modest growth in transaction volumes. Among major districts, Indore topped revenue generation with ₹328.45 crore, followed by Bhopal at ₹239.75 crore and Gwalior at ₹120.81 crore. Indore recorded this revenue from 25,405 property transactions, an increase from ₹302.18 crore from 23,261 documents during the same period last year, marking an 8.69% rise in the district’s revenue…

CommercialLatest Stories

Mangaluru IT Park tender sees no bids, deadline extended

MANGALURU: The proposed ₹135 crore IT Park in Mangaluru has encountered further challenges, as it remains unable to attract bidders, prompting the government to extend the tender deadline from May 29 to June 19. Sources from the Karnataka State Electronics Development Corporation Limited (Keonics) indicate that there may be further extensions, as there are currently no prospective bidders for the project. During the second round of bidding, Keonics and Credai Mangaluru noted that three interested stakeholders initially engaged but ultimately withdrew, citing several constraints within the tender conditions. This second bidding opportunity was reopened after the first round saw no…

Latest StoriesRegulatory

Two Builders Arrested in Delhi Collapse that Killed Six

NEW DELHI: On May 30, the Delhi Police arrested a builder and a contractor over the collapse of a multi-storey building in Saidulajab, which resulted in six fatalities and eight injuries, officials announced on Tuesday. The suspects, identified as Avinash Gupta and Manish Khatri, were allegedly linked to the building’s construction and were taken into custody in various locations around the city. Investigators are currently questioning them regarding the construction process, permissions obtained, and their roles in the unauthorized addition of extra floors. Previously, the police had apprehended Karamveer, the building’s owner. During questioning, he indicated that construction on the…

InfrastructureLatest Stories

Nagpur Demolishes 67 of 278 Dilapidated Buildings Before Monsoon

NAGPUR: As the monsoon approaches, numerous families residing in or around unsafe buildings are at risk. The Nagpur Municipal Corporation (NMC) has identified 278 dilapidated structures for the 2025-26 period, but only 67 have been demolished to date. According to data from the civic body’s fire and emergency services department, many hazardous buildings remain, raising concerns for public safety during the rainy season. The highest number of unsafe structures is in the Gandhibagh zone, where 137 buildings have been marked as hazardous. However, only 21 have been demolished, with 108 cases still pending action and four appeals under review, as…

CommercialLatest Stories

Wadhwa Group Leases 33,000 sq ft Office in Mumbai for ₹44 Crore

NEW DELHI: The Wadhwa Group has leased approximately 33,000 square feet of office space to the global investment research firm Morningstar at its commercial project in Mumbai, totaling a rental agreement of Rs 44 crore over a nine-year period. Based in Mumbai, Wadhwa Group specializes in residential, commercial, and township projects, having completed over 220 projects across the Mumbai Metropolitan Region (MMR), featuring a total area of 45 million sq ft. Morningstar has also leased an additional 32,551 sq ft at Wadhwa Group’s Vishwaroop IT Park (VITP) project in Vashi, Mumbai. A spokesperson for the company opted not to comment.…