Category: Latest Stories

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IndustryLatest Stories

Secunderabad Cantonment Board Offers OTS for Property Tax Dues

HYDERABAD: The Secunderabad Cantonment Board (SCB) has introduced a one-time settlement (OTS) plan for property tax arrears. This initiative aims to alleviate the financial burden on property owners by providing concessions on the interest accrued from outstanding tax dues. The plan applies to arrears accumulated until March 31 and aligns with the Cantonments Act, 2006. Under the OTS plan, property owners may receive a 30% discount on their accumulated interest or a maximum of ₹10,000, whichever is greater. If the total interest is less than ₹10,000, owners can benefit from a full waiver of that interest. It’s important to note…

Latest StoriesRera

MahaRERA: Over 6,300 Unresolved Complaints by December 2025

PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) currently has 6,366 unresolved complaints, according to the state economic survey for 2025-26 presented in the legislative assembly on Thursday. This underscores a persistent backlog in disputes between homebuyers and developers. As of December 2025, a total of 53,012 real estate projects were registered with MahaRERA. The authority has received 32,377 complaints since its inception, resolving 26,011, which leaves 6,366 still pending. The survey highlighted that MahaRERA was established under the Real Estate (Regulation and Development) Act of 2016, to regulate the real estate sector by ensuring transparency, financial accountability, and protection…

IndustryLatest Stories

Maharashtra’s Debt Could Push RR Rates Up 5% by April 2026

PUNE: Increasing fiscal pressures and a significant rise in the state’s debt may lead the government to adjust the ready reckoner (RR) rates starting in April, with an anticipated average increase of over 5% across the state, according to senior government officials on Thursday. “Given the expanding revenue deficit and an influx of supplementary demands, a revision of the RR rates seems inevitable. The official announcement will be made on March 31,” a senior state government source told TOI. Consultations with stakeholders in various districts have been completed, but the final decision will hinge on the funds needed to support…

Latest StoriesRera

OREAT Rejects Promoter’s Appeal on Ghatikia RERA Conditions

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has rejected an appeal from a developer contesting the conditions set by the Odisha Real Estate Regulatory Authority (ORERA) regarding the registration of phase III of a real estate project in Ghatikia. When issuing the registration certificate for the third phase, ORERA imposed two key conditions: the developer must not execute any sale agreements without re-validated building plan approval or an occupancy certificate, and they must refrain from any sale agreements until the Orissa High Court’s mandate for correcting land records is fully adhered to. The disagreement stems from discrepancies in revenue…

IndustryLatest Stories

MHADA Signs Redevelopment Deal for GTB Nagar, Mumbai

NEW DELHI: The Maharashtra Housing and Area Development Authority (MHADA) has finalized crucial agreements to expedite the redevelopment of the Guru Tegh Bahadur (GTB) Nagar housing cluster located at Sion Koliwada in Mumbai. All cooperative housing societies participating in the initiative have signed a tripartite development agreement with MHADA and the selected construction and development agency (C&DA). Furthermore, a construction-cum-development agreement has been established, paving the way for the implementation stage of the project. The redevelopment will span approximately 11.2 acres and will serve around 1,200 eligible residents. The area previously contained 25 buildings that were deemed unsafe by the…

Latest StoriesResidential

Refund Excess Power Charges to Gurugram Residents: Panel to RWA & Unitech

GURUGRAM: The Haryana Electricity Regulatory Commission (HERC) has ordered the resident welfare association (RWA) of Uniworld Gardens II in Gurgaon, along with developer Unitech Realty Pvt Ltd, to adhere to electricity billing regulations and to refund any excess charges collected from residents. The commission has also imposed a penalty of Rs 50,000 on the RWA, with a directive to comply within 30 days. Non-compliance may result in an additional penalty of Rs 6,000 per day. Furthermore, the commission has prohibited Unitech from citing a Supreme Court moratorium as grounds for non-compliance with electricity billing standards. The complaint was submitted by…

Latest StoriesResidential

Haryana to Require Registration of Property Sale Agreements

GURUGRAM: Haryana’s Chief Minister Nayab Singh Saini has announced a proposal to mandatorily register Agreements to Sell in order to enhance transparency and legal protection in property transactions during the budget statement. Currently, these agreements are often made on plain paper or notarized privately, without official documentation. This lack of registration exposes buyers to risks such as fraud, double-selling, delayed possession, and lengthy litigation, as unregistered agreements carry lesser evidentiary weight in legal disputes. By requiring registration, the government aims to ensure that all property commitments are formally documented, time-stamped, and recorded with revenue authorities. This will help verify ownership,…

IndustryLatest Stories

CCI Approves Bagmane Prime Office REIT’s Stake Acquisition

NEW DELHI: The Competition Commission of India (CCI) has given the green light for a deal that will see Bagmane Prime Office REIT acquire stakes in Bagmane Developers and its related entities. The transaction includes a direct acquisition of Bagmane Developers (BDPL) and its wholly owned subsidiary, Bagmane Green Power LLP (BGPL), by Bagmane Prime Office REIT. Additionally, the REIT will indirectly gain control of Bagmane Rio (BRPL) and the asset known as ‘Luxor @ Bagmane Capital Tech Park’ from Bagmane Constructions through BDPL. As part of the deal, the sponsor group of the REIT, along with certain third-party shareholders…

IndustryLatest Stories

Embassy REIT Secures ₹1,400 Crore via 10-Year NCDs

NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has successfully raised ₹1,400 crore through a 10-year non-convertible debenture (NCD) issuance, as part of its ongoing capital raising strategy. The recent issuance, which comes with a fixed coupon rate of 7.49% for a decade, was fully subscribed by a prominent domestic life insurance company. This marks the REIT’s second 10-year bond issuance for FY26. With this deal, Embassy REIT has accumulated ₹3,400 crore through 10-year NCDs in this financial year, aimed at enhancing the maturity profile of its debt. The NCDs have a ‘AAA/Stable’ rating from CRISIL and CARE Ratings. Amit…

IndustryLatest Stories

Nashik Adds 30,000 Properties to Tax Roll

NASHIK: The municipal authority has brought approximately 30,000 new properties into the tax system for this financial year. The total registered properties under the Nashik Municipal Corporation have now exceeded 600,000. A civic official indicated that property tax has been applied to these newly identified properties from the current fiscal period. “Property owners have also been requested to pay tax for a minimum of the past two financial years, or from the year construction commenced,” the official stated. “This retrospective assessment has enabled the Nashik Municipal Corporation to generate an additional Rs 30 crore over the past two years. With…