Tag: Delhi-NCR

Latest StoriesRegulatory

Delhi extends property tax amnesty scheme by 3 months with fees

NEW DELHI: The MCD has announced a three-month extension for its Sumpattikar Niptaan Yojana (SUNIYO) 2025-26, now valid until December 31, officials reported on Friday. This one-time property tax amnesty scheme was originally set to expire on September 30. While the terms and conditions will remain unchanged, a 2% late fee on the principal tax amount will apply for payments made between October 1 and December 31. Since its launch on June 1, SUNIYO has drawn in 1.16 lakh taxpayers, generating Rs 370.27 crore in revenue. Notably, 65,874 new taxpayers have paid property tax for the first time through SUNIYO,…

Latest StoriesResidential

Gentex Acquires Lutyens’ Bungalow for ₹310 Crore

Representative Image Gentex Merchants Pvt Ltd, associated with Lakshmi Mittal, has acquired a 3,540 square yard bungalow on APJ Abdul Kalam Road in the prestigious Lutyens’ Bungalow Zone of Delhi for Rs 310 crore. This property was previously owned by Yashwant Singh, a member of the Alwar royal family in Rajasthan. Singh recently purchased an 867 square meter bungalow in Golf Links for Rs 100 crore. According to the sale deed obtained by RealtyDailyNews, Gentex Merchants paid Rs 21.7 crore in stamp duty for the deal, which was registered in June. The company has not responded to RealtyDailyNews’s email inquiry…

InfrastructureLatest Stories

Delhi CM Calls on LG to Fast-Track Master Plan 2041

NEW DELHI: On Wednesday, Delhi Chief Minister Rekha Gupta called on Lieutenant Governor VK Saxena to expedite the “delayed” ‘Master Plan 2041’ to address the city’s growing demands. During the launch of initiatives under the Gramodaya Abhiyan, Gupta emphasized that the new master plan should effectively tackle current developmental challenges while also benefiting future generations for the next century. Gupta noted that the Delhi Development Authority (DDA) is currently working on the master plan, stating, “It should be ready soon. The Delhi government is prepared to approve anything that serves the interests of our citizens.” Upon taking office in February,…

Latest StoriesRegulatory

SC Lets CBI Open Six More Cases in Builder-Bank Nexus

NEW DELHI: On Tuesday, the Supreme Court permitted the CBI to initiate six additional regular cases concerning the fraudulent connections between banks and developers, which have deceived homebuyers in real estate projects across Mumbai, Bengaluru, Kolkata, Mohali, and Prayagraj. A bench consisting of Justices Surya Kant, Ujjal Bhuyan, and N Kotiswar Singh granted the CBI the authority to proceed legally after Additional Solicitor General Aishwarya Bhati, representing the agency, indicated that the preliminary inquiry into various builders, excluding Supertech Ltd, has been completed. The court acknowledged the CBI’s assertion that a cognizable offense has emerged from the preliminary inquiry and…

Latest StoriesRegulatory

ED Searches Imperial Group Premises in Himachal, Delhi

The Directorate of Enforcement (ED) in Shimla has conducted searches at six locations in Himachal Pradesh and Delhi as part of an ongoing investigation into the Delhi-based Imperial Group. According to an ED statement released on Sunday, the properties belong to Manavinder Singh, chairman of the Imperial Group, his wife Sagri Singh, and their associates. The searches, conducted on September 19 and 20, were executed under the Foreign Exchange Management Act (FEMA) of 1999. They focused on alleged undisclosed foreign assets, unreported investments, and financial interests tied to Manavinder Singh, his wife, and companies associated with the Imperial Group. The…

IndustryLatest Stories

Builders seek clarity on GST benefits for homebuyers

Consumers across various sectors are eager to enjoy the benefits from the reduced goods and services tax (GST) rates effective Monday. However, homebuyers may need to wait a bit longer. Real estate industry executives have indicated that there is still no clarity on the extent of benefits that will trickle down from cement manufacturers to consumers. Whenever cement prices do decrease, only projects currently in the early stages of construction will reap the rewards. “We are still awaiting concrete information from cement manufacturers regarding the benefits to be passed on to builders. We expect some impact in the first week…

Latest StoriesRegulatory

Delhi: CBI Files FIR Against Signature View Builders, Officials

Sure! Here’s a rewritten version of the content: The CBI has filed an FIR against builders and officials from the DDA, alleging criminal conspiracy and negligence in maintaining quality and structural safety during the construction of the Signature View Apartments located in Mukherjee Nagar, North Delhi. The DDA had previously lodged a complaint regarding construction quality issues in the complex, which consists of 224 High-Income Group (HIG) and 112 Middle-Income Group (MIG) flats divided into three construction phases. According to the CBI, the use of substandard materials has rendered the buildings unsafe for habitation within just ten years of their…

Latest StoriesRegulatory

Delhi HC: MCD’s higher luxury hotel tax not arbitrary

NEW DELHI: The Delhi High Court has stated that the increase in property tax rates for luxury hotels imposed by the Municipal Corporation of Delhi cannot be considered “arbitrary or capricious,” especially when viewed in the context of their target clientele’s economic background. The court explained that luxury hotels actively pursue star ratings, positioning themselves within a niche aimed at affluent customers while providing premium experiences at high prices. Justice Purushaindra Kumar Kaurav, delivering the judgment on September 12 (published on the court’s website on September 16), noted, “The legislative intent behind the higher property tax rates for these establishments…

IndustryLatest Stories

Delhi Civic Body Unveils Easy Property Tax Calculator

NEW DELHI: The Municipal Corporation of Delhi (MCD) has launched a new property tax calculator designed to help residents compute their property taxes easily, eliminating the need for app logins or middlemen. A senior official informed PTI that this user-friendly calculator enables citizens to independently calculate their annual property tax. As part of efforts to enhance digital transparency, it is now accessible on the official MCD portal. This straightforward tool fosters trust by equipping property owners with clear information, thus decreasing their reliance on others and streamlining the entire process for users. Available under the property tax section, once users…

Latest StoriesResidential

Residents leave Signature View flats as DDA offers rent aid

NEW DELHI: Residents of Signature View apartment in Mukherjee Nagar are gradually vacating their homes after the Delhi Development Authority (DDA) began offering monthly rent assistance to those who have relocated. According to the Resident Welfare Association (RWA) of Signature View, families in three-bedroom apartments receive ₹50,000 a month, while those in two-bedroom units receive ₹38,000 monthly. Amrendra Rakesh Singh, president of the RWA, stated, “By the end of August, around 200 families had vacated the building. Approximately 110 families are expected to leave before the court-imposed deadline of October 1.” The apartments are set for demolition after an IIT…