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CommercialLatest Stories

Investors Claim ₹1.6 Crore Fraud in WTC GIFT City Project

AHMEDABAD: On Wednesday, the CID (Crime) lodged a complaint regarding an alleged financial fraud exceeding Rs 1.56 crore tied to an investment scheme associated with a commercial project in GIFT City. The complaint stated that investors were enticed with promises of high monthly returns and a buyback guarantee, but later found their repayment requests denied. As per the complaint, in 2021, a group of investors was approached by a real estate intermediary who presented an investment opportunity in the WTC GIFT City Tower-C. The investors were informed that by purchasing commercial units in the project, they would receive a monthly…

InfrastructureLatest Stories

DTCP Dismantles Illegal Colonies and Structures in Gurugram

GURUGRAM: In a stern warning to encroachers, the Department of Town and Country Planning (DTCP) conducted several demolition drives this week, targeting illegal constructions in Sadhrana, Bhondsi, and within a group housing society in Sector 89. A DTCP official stated that these actions are part of a heightened campaign against unauthorized plotting and building. “The objective of such drives is to curb encroachment at an early stage, ensuring buyers aren’t misled into purchasing in unauthorized developments,” he explained. The operations were supported by personnel from the Sector 10A and Bhondsi police stations. On Wednesday, an unauthorized colony in Sadhrana village…

Latest StoriesResidential

PMAY-U 2.0 Extended to Sept 2026; Aims for 1 Crore Urban Homes

Representative AI image NEW DELHI: The Central Government has extended the deadline for the Pradhan Mantri Awas Yojana–Urban (PMAY-U) until September 30, 2026, to support the completion of ongoing housing projects and the release of necessary funds, as stated by Minister of State for Housing and Urban Affairs, Tokhan Sahu, in a written response to the Lok Sabha. Initiated on June 25, 2015, PMAY-U aims to ensure eligible urban households across India have access to durable housing with essential civic amenities. Learning from the previous implementation of the scheme, the government has launched PMAY-U 2.0, effective September 1, 2024. This…

Latest StoriesRegulatory

Magistrate Court to Hear ₹140 Crore Guruashish Fraud Case

MUMBAI: A special court has transferred the Rs 140 crore cheating and conspiracy case involving Guruashish Construction and its directors to the magistrate’s court. This decision comes after the CBI was unable to provide evidence implicating any public servants. Special judge B.Y. Phad stated, “Since no public servants are included as accused in the chargesheet, this special court lacks the necessary jurisdiction to proceed with the matter or acknowledge the IPC offences against private individuals independently, as none of them fall under the Prevention of Corruption Act.” The investigation into Guruashish Construction, along with Rakeshkumar Wadhwan, Sarang Wadhawan, and Housing…

IndustryLatest Stories

Assotech Realty aims ₹400 crore in FY27; Atmosphere Core targets $400M by 2030

Representative AI image NEW DELHI: Assotech Realty aims to increase its revenue to ₹350-400 crore by FY27. Meanwhile, Atmosphere Core, an international hospitality company, is targeting $400 million in revenue by 2030, following a partnership to develop a hospitality project in Shirdi, Maharashtra. Assotech is set to invest approximately ₹200 crore into the project, which will feature 160 suites of around 45 square meters each, managed by Atmosphere Core through a fee-based agreement. The project aligns with a growing trend of transforming pilgrimage sites into organized tourism hubs, bolstered by enhanced infrastructure, connectivity, and professionally-run hospitality ventures. Neeraj Gulati, managing…

IndustryLatest Stories

Finance Panel Urges Karnataka to Allow Monthly Property Tax EMIs

BENGALURU: The 5th State Finance Commission has put forth a proposal for property tax payments to be made in installments (EMIs) alongside the introduction of amnesty and incentives to motivate property owners to settle outstanding tax dues. The commission’s report, presented in the legislative assembly on Wednesday, dedicates a chapter to reforming property tax to enhance collection efficiency within the city. These recommendations arrive as government officials have initiated drone surveys of properties in the Greater Bengaluru Authority (GBA) to identify tax defaulters. Estimates suggest that dues across GBA’s five corporations reach into the lakhs. Bengaluru is home to 20.5…

IndustryLatest Stories

Indore: 533 Locations to Merge; Rates Could Rise by 200%

INDORE: The district administration and registration department are in the process of consolidating the Collector’s guideline rates for the financial year 2026-27. This involves the rationalization of locations, merging 533 existing ones to streamline property registration. Currently, document registration in Indore spans across 4,840 designated locations. The new proposal aims to consolidate 533 neighboring locations into clusters of 3 to 4 colonies, which would reduce the total number of locations by approximately 350, ultimately targeting a reduction to around 3,000. Senior Registrar Amaresh Naidu mentioned that varying registration rates within the same area lead to technical issues and revenue loss.…

IndustryLatest Stories

Gera Developments Names Rajesh Shirwatkar CFO

Sure! Here’s a rewritten version of your content: NEW DELHI: Gera Developments (GDPL) has named Rajesh Yashwant Shirwatkar as its new Chief Financial Officer (CFO). In this role, Shirwatkar will oversee the company’s financial strategy, planning, compliance, treasury management, and governance. Additionally, Swapan Mukherjee has been promoted to Group Chief Financial Officer. “In this expanded position, he will offer financial oversight at the group level, aiding in the establishment of a solid foundation to foster the company’s growth and expansion,” stated Rohit Gera, Managing Director of the company. Published on Mar 12, 2026 at 04:30 PM IST Join 2M+ industry…

CommercialLatest Stories

Aurum PropTech Sells Navi Mumbai Buildings for ₹112 Crore

NEW DELHI: Aurum PropTech’s board of directors has approved the sale of buildings Q5 and Q6 at Millennium Business Park, Navi Mumbai, for ₹112 crore, which is about 15% higher than the valuation offered by the valuers. The assets hold a book value of approximately ₹27 crore. Upon completion of this transaction, the company aims to eliminate its debt by using the proceeds to prepay a lease rental discounting facility (LRD) amounting to ₹56 crore. The deal is expected to be finalized by June 30, 2026, pending the necessary regulatory approvals. Additionally, the company is planning to transition towards AI-driven…

Latest StoriesResidential

Ludhiana to Collect Property Tax Door-to-Door

LUDHIANA: The Ludhiana Municipal Corporation (MC) is set to launch a groundbreaking “doorstep tax collection” service to address outstanding municipal dues. This new initiative will see civic employees using handheld point of sale (POS) machines to visit residential and commercial properties for on-the-spot tax calculations and collections. This approach shifts to a “service-at-your-door” model, aimed at assisting those who have not managed to settle their dues at MC offices. Smart assessment and real-time tracking The MC has acquired 48 POS machines, distributing 12 units across each of the city’s four zones. While water supply dues are fixed, property tax calculations…