Category: Latest Stories

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Latest StoriesRera

Haryana RERA Issues Warrant for Jailed Vipul Director

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has issued a production warrant for a jailed director of a real estate firm to appear before its adjudicating officer in relation to a complaint from a homebuyer. Adjudicating officer Rajender Kumar has instructed the superintendent of Bhondsi jail to present Punit Beriwala, director of Vipul Ltd, on March 13 at 2 PM for the case titled Anshul Deo vs Vipul Ltd. Rera requested the jail to ensure his appearance via a production warrant after an official reported that Beriwala is currently in judicial custody for a different case. The complaint from…

IndustryLatest Stories

MHADA Aims for 20,000 Affordable Homes via Cluster Redevelopment

NEW DELHI: According to Sanjeev Jaiswal, the Vice President and CEO of the Maharashtra Housing and Area Development Authority (MHADA), Mumbai’s redevelopment strategy is evolving from focusing on individual buildings to large-scale cluster redevelopment. In an exclusive interview with Ankit Sharma, Jaiswal emphasized that MHADA is concentrating on redeveloping extensive housing layouts across the city. This approach could unlock 800-1,000 acres for redevelopment, creating a substantial supply of affordable housing units in the years ahead. He underscored the authority’s commitment to enhancing affordable housing for economically weaker sections (EWS) and lower-income groups (LIG), fast-tracking the redevelopment of aging properties, and…

Latest StoriesResidential

Uttar Pradesh Introduces OTS Scheme for Property Defaulters

LUCKNOW: The housing development authorities in Uttar Pradesh are set to introduce a one-time settlement scheme aimed at allowing defaulters the opportunity to settle their debts. The cabinet has given the green light for this scheme, which is designed to stimulate the real estate market and recover overdue payments from buyers who owe money to organizations such as the Lucknow Development Authority and Kanpur Development Authority. This scheme will be applicable for settling debts that have accrued from the purchase of various types of properties, including residential, commercial, mixed-use, and institutional sectors. Currently, there are 18,982 pending default cases with…

Latest StoriesResidential

Pune’s Registration Dept. Considers Cleaning Tenant Agreements

Representative AI image PUNE: The state’s property registration department is considering implementing online leave-and-licence (tenant) agreements that can be processed at any sub-registrar office within a district, rather than limiting it to specific taluka offices. This initiative aims to reduce backlog and expedite approvals. According to officials, this system has been successfully implemented in districts like Mumbai and Thane. However, its introduction in Pune has faced delays due to the use of two disparate software systems in urban and rural offices. A registration department official stated, “There are requests to initiate this process in Pune once the software issues are…

InfrastructureLatest Stories

Pune allocates ₹954 crore for merged village development

PUNE: The Pune Municipal Corporation (PMC) has proposed an allocation of approximately Rs 954 crore for the newly merged areas in its draft budget for 2026-27. This will be the first municipal budget since the recent elections of corporators from these regions, responding to urgent calls from residents and representatives to enhance infrastructure development. The budget, crafted by PMC Commissioner Naval Kishore Ram, is heavily reliant on expected revenue from building permissions and property taxes in these suburban areas. “We anticipate a significant revenue boost from building permits as development accelerates in these regions. Additionally, the PMC is expecting funding…

Latest StoriesRegulatory

ED Charges Five with Laundering ₹36.66 Crore from Sand Mining

PATNA: The Enforcement Directorate (ED) has lodged a prosecution complaint in the Special PMLA Court in Patna against Arun Yadav, Kiran Devi, Rajesh Kumar Ranjan, and Dipu Kumar, as well as their company, Kiran Durga Contractors Pvt Ltd, for money laundering. This case centers around substantial illegal funds generated primarily through unauthorized sand mining in Bihar, alongside corruption and related criminal activities. The investigation commenced following multiple FIRs filed by Bihar Police and the Special Vigilance Unit alleging various offenses, including cheating, extortion, illegal sand mining, and possession of assets disproportionate to their lawful income. During the inquiry, the ED…

Latest StoriesRegulatory

Nashik Civic Body Gathers ₹272 Crore in Property Tax FY26

NASHIK: The Nashik Municipal Corporation (NMC) has achieved a record property tax collection of Rs 272 crore in the financial year 2025-26, marking the highest amount in its 43-year history. Officials anticipate an additional Rs 10-15 crore to be collected in the remaining 21 days of the fiscal year. The target set for property tax collection was Rs 270 crore. Officials cited a significant boost from the 15-day amnesty scheme for tax defaulters, conducted from February 23 to March 9, which generated Rs 46 crore in outstanding dues. “During this period, over 13,000 defaulters cleared arrears totaling Rs 45 crore…

InfrastructureLatest Stories

UP allocates ₹425 crore for townships in 8 cities

LUCKNOW: The Uttar Pradesh government has allocated ₹425 crore for the development of new townships in eight major cities. Under the Chief Minister’s New Township Scheme, development authorities submitted proposals for funding to the state government. This allocation will act as seed capital for townships in Bareilly, Varanasi, Orai, Chitrakoot, Banda, Pratapgarh, Ghazipur, and Mau. The initiative aims to promote organized development in response to the rapidly expanding urban population and to offer improved housing options for residents. The government will provide up to 50% of the costs related to land acquisition as seed capital, available for a maximum duration…

Latest StoriesRegulatory

Maharashtra: New Stamp Duty Penalty Starts January 1

PUNE: The increased penalty of ₹1 lakh for executing property documents without adequate stamp duty will be effective from January 1, 2026. An official from the Inspector General of Registration (IGR) office confirmed this on Monday, stating, “The amendment was notified on December 31, 2025, and will be enforced starting January 1, 2026. Any case registered concerning a shortfall in stamp duty post this date will be subjected to the revised penalty.” During the Maharashtra Budget presentation for 2026-27 on March 6, Chief Minister Devendra Fadnavis emphasized this change, proposing an increase in the penalty from the existing ₹5,000 to…

Latest StoriesResidential

Ownership Verification Required Before Property Registration in UP

LUCKNOW: On Tuesday, the Cabinet made a significant decision regarding property sales registration, mandating the stamp and registration department to verify property ownership details prior to registration. Ravindra Jaiswal, the Minister of State (Independent) for Stamp and Registration, stated that new rules will soon be established to require verification of ‘khatauni’ (land records) and ownership documents before registration, aiming to eliminate fraudulent or contested land registrations. “We have encountered multiple instances where properties are sold by individuals who are not the legitimate owners, including prohibited or restricted properties, properties sold beyond legal ownership rights, and even those owned by the…