Category: Latest Stories

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InfrastructureLatest Stories

Goa: 50% Land Conversions Under Planning Act in 5 Villages

Representative AI image PANAJI: Over 530 hectares (53 lakh sqm) of land have been designated for settlement under Section 39A of the Goa Town and Country Planning Act, as per the compiled data on all proposals approved across the state. This significant reclassification, primarily from agricultural and natural lands to settlement areas, demonstrates that a measure intended for minor adjustments has evolved into a methodical erosion of Goa’s ecological integrity. Notably, over 51% of the land converted under Section 39A is concentrated in just five villages, highlighting a pronounced geographic development pressure. The data clearly indicates that most of this…

InfrastructureLatest Stories

Crackdown on Illegal Floors, Offices, Colonies in Pataudi

GURUGRAM: On February 25th, illegal constructions were sealed and three unauthorized colonies were demolished in the Pataudi subdivision during an enforcement operation led by the town and country planning department, with police support. Officials explained that the actions were in response to complaints regarding unauthorized plotting in the city’s peripheral urban areas. The operation included the sealing of an illegal floor at Enkay Town Plaza in Palam Vihar, initiated by a complaint submitted through the CM Window grievance portal. Additionally, an unauthorized office operating within the Brisk Lumbini club, located in Sector 109, was also sealed for violating approved land…

Latest StoriesResidential

Shraddha Kapoor Renews Juhu Apartment Lease for ₹6 Lakh/Month

MUMBAI: According to property registration documents reviewed by Square Yards on the Inspector General of Registration (IGR) website, Shraddha Kapoor has renewed her apartment lease in Mumbai’s Juhu area for a starting monthly rent of ₹6 lakh. The lease renewal, registered in February 2026, pertains to a unit in Prime Beach, Juhu, covering approximately 365 sq metres (around 3,929 sq ft), which includes four car parking spaces. The lease term is set for 12 months, totaling a rental value of ₹72 lakh for the duration. The transaction involved a stamp duty payment of ₹36,000 and registration charges of ₹1,000. Previously,…

Housing FinanceLatest Stories

IIFL Home Finance Gets $300M Loan from Asian Development Bank

NEW DELHI: IIFL Home Finance (IIFL HFL) has secured a $300 million syndicated external commercial borrowing (ECB) facility from the Asian Development Bank (ADB). The financing package consists of $150 million from ADB, along with another $150 million through parallel loans from MUFG, Emirates Bank, Sampath Bank, and Hatton National Bank. ADB served as the mandated lead arranger and bookrunner for this deal. This is IIFL HFL’s inaugural syndicated ECB facility. The funds will be allocated to provide home loans to women in low-income communities in peri-urban and urban areas, especially in economically disadvantaged states. Over 25% of the loan…

Latest StoriesRegulatory

Mangaluru Launches Campaign to Enhance Property Tax Collection

Representative AI image MANGALURU: The Mangaluru City Corporation (MCC) has initiated a campaign aimed at enhancing property tax collection to boost revenue. A campaign vehicle was launched recently to facilitate drives for collecting overdue payments. MCC Commissioner Ravichandra Naik announced that the Self-Assessment Scheme (SAS) property tax will experience a 3% increase in accordance with government regulations. He urged residents to pay their property taxes punctually each year. The MCC raises property tax annually by 3% based on the market value set for 2023-24. For the fiscal year 2025-26, as directed by the administrator and Deputy Commissioner Darshan HV, this…

Latest StoriesResidential

Soaring Land Prices Drive Visakhapatnam’s Vertical Housing Boom

Representative AI image VISAKHAPATNAM: The surge in land prices and a limited supply of well-located plots have prompted a transformation in the city’s residential landscape. Developers are increasingly favoring high-rise constructions—ranging from 40 to 50 stories—over low-rise structures of 5 to 15 floors. As new investments flood into Vizag, land costs in prime areas have soared to a point where low-rise developments are typically no longer feasible. Vertical housing offers buyers lower per-square-foot prices (₹1,000–₹1,500 less) and superior amenities compared to standalone buildings. High-rise development enhances land-use efficiency, ensuring projects remain economically viable. Developers cite the necessity of distributing high…

Latest StoriesRegulatory

Navi Mumbai collects ₹650 crore in property tax; 62% paid online

Representative AI image NAVI MUMBAI: The Navi Mumbai Municipal Corporation (NMMC) has collected ₹650 crore in property taxes so far this financial year, with a marked increase in digital payments. The tax was paid by 182,894 out of 360,000 property owners, with 62% opting for digital methods, totaling ₹383 crore, while the remaining 38% paid ₹267 crore offline. NMMC facilitated payments via UPI, QR codes, debit/credit cards, net banking, NEFT/RTGS, and IMPS. In its effort to achieve a target of ₹1,000 crore by March 31, NMMC has issued notices and seized properties from several defaulters. While some taxpayers reported issues…

IndustryLatest Stories

SWAMIH Fund Approves ₹115 Crore for Antriksh Valley Project

Representative AI image NEW DELHI: The SWAMIH Investment Fund I, supported by the government, has approved an investment of up to ₹115 crore for the completion of the stalled residential project Antriksh Valley (now known as The Valley) in Greater Noida West’s sector 1. As per the sanction letter, the fund’s investment committee has granted final approval for an investment of up to ₹95 crore, with an additional ₹20 crore contingent upon further internal approvals and project progress review. This investment will be made through non-convertible debentures (NCDs) issued by Diligent Builders, the project developer. The funds will be strictly…

Latest StoriesResidential

Chandigarh Housing Board Allottees Can Now Make Changes

CHANDIGARH: A significant relief has been granted to Chandigarh Housing Board (CHB) allottees, as UT Administrator Gulab Chand Kataria approved various need-based modifications on Thursday. The approved relaxations pertain to construction norms for lifts, additional doors, internal alterations, façade painting, front and rear courtyards, water tank capacities, and temporary shelters. More than 450,000 residents in CHB-allotted houses stand to benefit from these relaxations. Kataria endorsed the committee’s recommendations set up to review the Need-Based Changes order dated January 3, 2023. A high-level committee formed by the UT administration, chaired by the secretary of estates, conducted an extensive review of the…

IndustryLatest Stories

Vedaanta Senior Living to invest ₹50 crore in Tamil Nadu project

NEW DELHI: Vedaanta Senior Living has partnered with Sameera Group to create the Vedaanta Ananta senior living project in Chengalpattu, Tamil Nadu. The project will be developed within the integrated township of Sameera Universe, with a total investment of ₹50 crore. Covering over four acres, the project will include 69 senior living villas, with prices starting at ₹50 lakh, plus applicable charges. Rahul Sabharwal, co-founder and director of the company, stated, “Tamil Nadu is a mature and high-potential market for organized senior living in India. Our goal is to cultivate environments where seniors can maintain independence, stay engaged, and age…