Tag: Nagpur

CommercialLatest Stories

Nagpur’s Kachipura to Host BKC-Style Commercial Hub & Housing

NAGPUR: Union Minister Nitin Gadkari announced plans for a cutting-edge commercial hub in the city, inspired by Mumbai’s Bandra Kurla Complex (BKC). This hub will be constructed on 19 hectares of encroached land at Kachipura, currently owned by Dr. Panjabrao Deshmukh Krishi Vidyapeeth (PDKV). The area, historically occupied by the Kachi community who subleased space for eateries and informal businesses, is set to be transformed into a modern urban center with a focus on inclusive development. Speaking at a casual Diwali gathering, Gadkari mentioned, “All encroachers known as ‘Kachis’ have lost their cases in court. We will provide alternative housing…

IndustryLatest Stories

Nagpur: Officials to Assess Laxmi Nagar Fire Damage

NAGPUR: Following a significant fire that destroyed the ground floor of a commercial-residential building containing Reliance Fresh Mart at Aath Rasta Chowk, Laxmi Nagar, senior officials from the Nagpur Municipal Corporation (NMC) visited the site on Wednesday to initiate an inquiry into potential unauthorized constructions and fire safety violations. Additional Commissioner Vaishnavi B and Deputy Commissioner Milind Meshram, who is also overseeing the Laxmi Nagar zone, assessed the damaged building and spoke with residents and firefighters. Their visit comes amid rising concerns regarding encroachments in the basement and parking area, where the fire reportedly began. According to sources, the building,…

Latest StoriesRegulatory

Bombay HC: Courts Can’t Make Banks Change Loan Terms or OTS

Here’s a rewritten version of the content you provided: NAGPUR: The Nagpur bench of the Bombay High Court has ruled that banks cannot be compelled to alter loan agreement terms or extend benefits of a One-Time Settlement (OTS) scheme to borrowers or guarantors. A division bench comprising Justices Anil Kilor and Rajnish Vyas stated, “Issuing a writ of mandamus under Article 226 of the Constitution would not serve justice by directing the bank to consider OTS benefits for the borrower or guarantor. We cannot order the bank to amend the terms of the agreement.” The ruling was made last Friday…

InfrastructureLatest Stories

Nagpur Residents Lose Sleep to Construction Noises

Representative AI Image NAGPUR: While Nagpur’s skyline is rapidly evolving, so too are the levels of noise pollution. Citizens face challenges as construction noise permeates from residential areas to bustling commercial districts, disrupting their ability to live, study, or rest. The incessant sounds of drilling, hammering, and scraping have turned unbearable for residents, students, seniors, and even young adults. From dawn until dusk, residents are plagued by the clamor of metal striking metal, cement mixers roaring, and heavy machinery rumbling. Work often starts at 6 am and can extend until 10 or even 11 pm, leaving almost no respite from…

IndustryLatest Stories

Maharashtra earns ₹29,795 crore from property fees by Oct 12

PUNE: Property registrations across Maharashtra continue to thrive, even after the recent increase in the ready reckoner (RR) rate, marking the first uptick in three years. The state has already gathered nearly half of its annual stamp duty and registration fees target as Diwali approaches. According to the state registration department, Maharashtra amassed ₹29,795 crore in stamp duty and registration fees by October 12, equating to 46.9% of the current financial year’s target of ₹63,500 crore. This represents a 7% increase from ₹27,834 crore during the same timeframe last year (up to the end of September), despite the recent RR…

Latest StoriesRegulatory

Nagpur to Auction 149 Properties for Unpaid Taxes

NAGPUR: The Nagpur Municipal Corporation (NMC) is intensifying its efforts to recover long-overdue property taxes, targeting 149 properties for auction in an attempt to collect ₹3.29 crore. So far, it has successfully retrieved ₹95.3 crore through property tax warrants. Currently, property tax arrears in Nagpur have exceeded ₹938.7 crore. A recent report highlighted that 261 prime properties are in default, each owing more than ₹25 lakh, collectively amounting to ₹442.34 crore in arrears. As of September 2025, the property tax and assessment department has issued 10,042 warrants under Taxation Rule 42, covering outstanding dues of ₹95.31 crore. Out of these,…

Latest StoriesRegulatory

Nagpur Civic Body Auctions Properties to Recover Tax Dues

NAGPUR: In a significant move against property tax defaulters, the Nagpur Municipal Corporation (NMC) initiated property auctions and asset seizures in the Lakadganj and Laxmi Nagar zones to recover unpaid dues. In Lakadganj Zone (Ward 08), a public auction on Friday featured 19 properties in Mauja Pardi and Mauja Nagpur. During the event, five property owners settled their dues with a total of Rs10.45 lakh, while another five properties valued at Rs1.66 crore were successfully auctioned. Nine properties are still pending, and owners have until October 10, 2025, to make payments; otherwise, the NMC will auction them under the Maharashtra…

CommercialLatest Stories

Maharashtra Cabinet Greenlights Policy to Double Global Centres by 2030

AI-generated image (representative) NAGPUR: On Tuesday, the state cabinet approved a new policy aimed at attracting investments in Global Capacity Centres (GCCs). The initiative emphasizes Tier-2 and Tier-3 cities such as Nagpur, Nashik, and Chhatrapati Sambhaji Nagar, with a goal of increasing the number of GCCs in the state to 800. This policy, effective from 2025 to 2030, seeks to draw in investments totaling ₹50,600 crore and create 400,000 new jobs. Currently, Maharashtra is home to 400 GCCs that employ 400,000 individuals. With this decision, Maharashtra joins other states like Gujarat, Karnataka, Madhya Pradesh, and Uttar Pradesh in having a…

IndustryLatest Stories

Nagpur: 862 Acres to Be Removed from Kamptee Defence Zone

NAGPUR: The proposed excision plan for the Kamptee Cantonment aims to release nearly 862 acres from military control, making it available for real estate development subject to the Yerkheda Nagar Panchayat’s approvals. The draft proposal, submitted by the cantonment board to the state government on April 16, is currently awaiting a response. Sources indicate that the Ministry of Defence (MoD) will make the final decision once the state government replies. The defence land begins about midway along the Nagpur-Kamptee Road and extends to the midpoint of the Kanhan River. The intent is to remove significant areas from military jurisdiction outside…

IndustryLatest Stories

Nagpur: 260+ Properties Default on ₹442 Crore Tax

NAGPUR: The Nagpur Municipal Corporation (NMC) is facing significant challenges in securing funding for essential projects, now compounded by the revelation that 261 prime properties in the city have defaulted on property tax payments exceeding Rs 25 lakh each, with total arrears reaching a shocking Rs 442.34 crore. If NMC can recover even some of these dues, officials believe it could greatly benefit the Nag River Pollution Abatement Project. As per official records, the most substantial defaults occur in the Hanuman Nagar zone, where 21 properties collectively owe Rs 106.02 crore. This is closely followed by Lakadganj zone with 29…