Category: Latest Stories

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Latest StoriesResidential

Telangana: 412 Velugumatla Families Receive House Pattas

HYDERABAD: Deputy Chief Minister Bhatti Vikramarka announced on Wednesday the construction of a model colony for the underprivileged in Velugumatla, Khammam district, aimed at setting a benchmark for other states. Alongside Housing and Revenue Minister Ponguleti Srinivas Reddy and Agriculture Minister Tummala Nageswara Rao, all from Khammam, the Deputy CM distributed house site pattas and sanctioned Indiramma houses for families affected by the recent demolition drives against encroachments on Bhoodan land in Khammam’s urban mandal. The event took place in Khammam town. While opposition parties claimed that over 700 families were evicted from Bhoodan land, 412 eligible families in Velugumatla…

Latest StoriesRegulatory

Delhi: MCD Seals Keshavpuram Properties Over ₹1.33 Crore Tax Dues

NEW DELHI: On Wednesday, the Municipal Corporation of Delhi sealed two commercial properties in the Keshavpuram zone due to alleged non-payment of property tax dues exceeding ₹1.33 crore, according to an official statement. This action is part of the civic body’s ongoing initiative against property tax defaulters. The properties, situated in Paschim Vihar and the GT Karnal Industrial Area, reportedly had substantial outstanding property tax dues. Despite multiple opportunities provided by the MCD to settle the dues, the property owners did not comply, leading to the initiation of coercive action under the Delhi Municipal Corporation Act. Officials encouraged the property…

Latest StoriesResidential

Prayagraj to Offer House Tax Rebates for Old Buildings

PRAYAGRAJ: The Prayagraj Municipal Corporation (PMC) has approved a 40% house tax rebate for buildings older than 20 years within the urban limits. The decision, made unanimously during a meeting on Tuesday, ensures property owners will automatically qualify for the rebate without any application process. This measure is set to take effect in April 2026. This initiative is expected to aid residents in older neighborhoods such as Kidganj, Daraganj, Rambagh, Bairhana, Chowk, Shahganj, Kareli, Malviya Nagar, Mundera, and Chakia, which contain numerous buildings over two decades old. Additionally, the house authorized a One-Time Settlement (OTS) proposal for significant house tax…

Latest StoriesRegulatory

Maharashtra Forms SIT to Investigate Land Issues in Sambhajinagar

CHHATRAPATI SAMBHAJINAGAR: The state government has established a Special Investigation Team (SIT) to conduct a thorough and unbiased inquiry into various significant land-related complaints in the Chhatrapati Sambhajinagar district. Led by the divisional commissioner of Chhatrapati Sambhajinagar, the SIT will scrutinize major land transactions that are surrounded by serious allegations. During the recent state budget session, concerns regarding alleged land misappropriation in gut number 30 at Brijwadi, near Chhatrapati Sambhajinagar, were raised. In response, Revenue Minister Chandrashekhar Bawankule assured that an SIT would be formed to investigate various land complaints in the district. An official release on Wednesday stated, “The…

IndustryLatest Stories

IPO Surge Among Developers Shows Improved Governance, Needs Careful Expansion: Brigade Group’s Founder

File Photo NEW DELHI: India’s residential real estate market is experiencing a robust post-pandemic uptrend, characterized by a noticeable shift towards premium offerings, enhanced affordability, and increased buyer ambitions, according to M. R. Jaishankar, founder and executive chairman of Brigade Group. However, he emphasizes that the most enduring demand lies within the mid-income and mass housing segments. In an exclusive interview with Ankit Sharma, Jaishankar expressed optimism about the sector’s long-term trajectory, supported by rising incomes and economic growth. He stressed the necessity for developers to exercise restraint in their expansion plans and called for a reassessment of the affordable…

Latest StoriesRegulatory

Uttarakhand HC Halts HRDA’s Plotting on Agricultural Land

DEHRADUN: On Wednesday, the Uttarakhand High Court instructed the Haridwar-Roorkee Development Authority (HRDA) to revoke its permission for plotting and group housing on agricultural and orchard land within a week. A division bench comprising Chief Justice Manoj Kumar Gupta and Justice Subhash Upadhyay was hearing a public interest litigation (PIL) alleging that the development authority was flouting previous High Court and Supreme Court rulings. They warned that non-compliance could lead to contempt proceedings. The PIL, filed in 2023 by Haridwar resident Atul Kumar Chauhan, referenced a High Court order from June 19, 2018, which prohibited such developments on agricultural and…

Latest StoriesRegulatory

Cheating Case Filed Against 150+ Landowners in Nashik

NASHIK: The Sarkarwada police have registered a cheating case involving over 150 landowners and developers. They are accused of neglecting the mandatory 20% reservation for economically weaker section (EWS) housing in residential projects exceeding 4,000sqm. The complaint was filed on March 7 by an officer from the land records department, stemming from an inquiry initiated by a committee led by the additional district collector. This investigation aimed to confirm whether developers were complying with government regulations requiring that 20% of land in projects larger than 4,000sqm be set aside for EWS housing, as stated in state housing policies from 2013…

Latest StoriesResidential

Mumbai: MHADA Misplaced ₹121 Crore in Rent Over 25 Years

MUMBAI: The Maharashtra Housing and Area Development Authority (MHADA) has reportedly been defrauded of over Rs 121 crore in a scheme spanning 25 years. The Kherwadi police have initiated a case against ten developers and firms for neglecting to pay rent for transit tenements designated for redevelopment projects. Given the considerable financial implications and the extended duration of the fraud, the case has now been forwarded to the Economic Offences Wing (EOW) for further investigation. The complaint was lodged by Mohan Raosaheb Bobade, a MHADA officer, following an internal audit of rental payments associated with the transit tenements leased to…

CommercialLatest Stories

Centre Approves ₹1,250 Crore IT Park in Puducherry

PUDUCHERRY: The Union government has approved the establishment of a dedicated Special Economic Zone (SEZ) for Information Technology (IT) in Puducherry, with an investment of ₹1,250 crore. This initiative aims to position Puducherry as a premier destination for technology firms and global investors. The SEZ will be built on 21.3 acres of government-owned land in Thattanchavady. A statement from the Directorate of Information and Publicity emphasized that the park will not merely consist of office buildings but will be conceived as a comprehensive mini-city. “Around 70% of the area will house ‘plug-and-play’ offices, allowing companies to begin operations immediately. The…

Latest StoriesRegulatory

Mumbai Court Grants Anticipatory Bail to Mazgaon Developer

MUMBAI: A Session Court has granted anticipatory bail to developer Munaf Vadgama and four of his relatives accused in a case of cheating and criminal breach of trust related to a redevelopment dispute in Mazgaon. Additional Session Judge Avinash P. Kulkarni permitted anticipatory bail, stating that if Sajida Munaf Vadgama, Aslam Ismail Merchant, Munaf Kadar Vadgama, and Tausif Hanif Shaikh are arrested, they should be released on bail concerning the case registered at Sir J. J. Marg Police Station. The case, lodged under Sections 406 and 420 of the Indian Penal Code, stems from a complaint by Julie Coelho. She…