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The Lucknow Municipal Corporation has approved a Rs 500 crore budget for upgrading infrastructure and advancing smart city initiatives. The funding, from the 15th Finance Commission, Smart City Mission, and Chief Minister’s urban renewal programs, was approved in a recent meeting. Key investments include Rs Rs 64.5 crore for air quality improvements, RS 173 crore for solid waste management, Rs 160 crore for infrastructure projects like lake cleaning and drainage systems, and Rs 11.05 crore for urban beautification efforts such as park development and urban forests. These projects aim to enhance the city's sustainability and livability. ...
The Enforcement Directorate has attached assets worth Rs 2,348 crore linked to WTC Group firms and promoter Ashish Bhalla in a money laundering case. The attached properties include land and unsold real estate in Delhi-NCR and residential units in Goa. The case is based on multiple FIRs accusing Bhalla of cheating over 12,000 investors by promising assured returns and raising more than Rs 2,700 crore. Investigations revealed that a large portion of the funds was diverted, including transfers to overseas entities in Singapore connected to Bhalla’s family. He was arrested in March as part of the ongoing investigation. ...
The Odisha Real Estate Regulatory Authority (ORERA) has requested the state government to ensure that planning authorities enforce regulations requiring promoters to obtain consent from two-thirds of allottees before modifying approved building plans. ORERA noted cases where changes were made without approval from buyers, leading to issues such as altered access or roads passing through unauthorized land. The authority stressed that the provisions of the Real Estate (Regulation and Development) Act, 2016, should take precedence over local development laws to safeguard the interests of homebuyers. ...
MahaRERA has registered over 50,000 housing projects, marking the highest in India and accounting for about 35% of the country’s total under RERA. The Konkan region, which includes Mumbai, has the most registrations, followed by Pune. Districts like Thane, Raigad, and Mumbai suburbs also contribute significantly. Launched in 2017 under the RERA Act, MahaRERA promotes transparency in real estate. The steady rise in project numbers reflects Maharashtra’s growing housing demand and ongoing urban growth, according to its chairman. ...
The Maharashtra government has approved converting 2.1 lakh square meters of leasehold land into ownership for Maha Metro. The land, located in Pune, Pimpri-Chinchwad, and Nagpur, was previously leased for 30 years. This conversion enables Maha Metro to use the land for commercial developments such as affordable housing, schools, and hospitals. The decision aims to generate revenue, helping the metro projects meet financial obligations and repay international loans. This move is expected to improve the financial sustainability of metro operations in these cities. ...
In April 2025, the Bruhat Bengaluru Mahanagara Palike (BBMP) achieved a record property tax collection of Rs 1,417 crore, marking its highest-ever monthly revenue. This success is attributed to improved digital payment options, awareness campaigns, and tighter enforcement strategies. Property owners were encouraged to pay early through incentives and streamlined services, leading to higher compliance. BBMP officials expressed optimism that this momentum would continue in the coming months, helping them reach their annual revenue goals. The achievement reflects a positive shift in public participation and administrative efficiency in Bengaluru’s tax collection system, strengthening the city’s financial stability and civic infrastructure plans. ...
The Uttar Pradesh government has acquired 13,500 acres of land for a new industrial city between Jhansi and Kanpur, part of the Bundelkhand Industrial Development Authority (BIDA) initiative. The total project spans 35,300 acres, aimed at boosting the region's economic growth and generating job opportunities. Of the total land, 12,700 acres are privately owned, while 5,140 acres belong to government departments. Chief Minister Yogi Adityanath is actively overseeing the project's progress with daily reviews to ensure its timely completion and development, helping enhance the area's industrial infrastructure. ...
The Noida Authority has initiated recovery of Rs 277 crore from Sikka Infrastructure for unpaid dues on a group housing project in Sector 143B. Despite a state policy offering relief for stalled projects, Sikka failed to pay the required Rs 52 crore, forfeiting the benefits. The project, allotted in 2011, has seen limited construction and no unit registrations. Only 749 of 1,351 approved units are built, with 323 receiving occupancy certificates. After repeated non-compliance, including ignoring a final notice, the Authority has referred the case to the Economic Offences Wing and is moving to cancel the projects building plan revalidation. ...
Bengaluru, Mumbai, and Delhi have made it to the top 15 cities globally for prime residential price growth, as per Knight Franks Q1 2025 Prime Global Cities Index. Bengaluru led Indian cities with an 8.3% rise, ranking 4th globally. Mumbai followed with a 7.6% increase, securing 5th place, while Delhi saw a 3.9% growth, ranking 15th. This surge in prices highlights the growing demand for high-end residential properties in these cities, driven by factors like strong economic performance, enhanced infrastructure, and an expanding affluent population in these urban hubs. ...
The Yamuna Expressway Industrial Development Authority (YEIDA) has instructed Bayview Bhutani Film City Pvt Ltd, led by filmmaker Boney Kapoor, to secure layout and building approvals before beginning construction on the Film City project in Sector 21. As per the concession agreement, the developer must start construction within a year and complete key components, such as film studios and a training academy, within three years. If these conditions are not met, the developer will face a penalty of Rs 1.5 lakh per day. YEIDA has emphasized that no construction, including foundation work, can proceed without the necessary approvals. ...
Bagmane Group has acquired a 124,000-square-meter parcel of railway land in Dwarka, Delhi, for Rs 1,530 crore, leased from the Rail Land Development Authority (RLDA). The site will be developed into 55% residential and 45% commercial space. The deal followed delays due to tree relocation issues. Located near a new railway passenger terminal, the projects strategic position is expected to boost its commercial appeal. This acquisition forms part of Bagmane’s broader expansion strategy in major cities like Bengaluru, Chennai, and Delhi-NCR, with potential plans for a Real Estate Investment Trust (REIT) listing. ...
The Bengaluru Development Authority (BDA) has increased property taxes by 20% to 45%, effective from April 1, 2025, following the states hikes in public transport fares, electricity, water, milk, and property registration fees. The revised rates, based on updated guideline values, were published on the BDA's website on April 28. This move has sparked protests from over 1.2 lakh property owners, particularly in areas like Arkavati, Banashankari, and Nadaprabhu Kempegowda, who cite poor infrastructure such as unfinished roads and irregular water and power supply. Residents argue that the tax hike is unjustified without corresponding improvements in basic amenities. Additionally, concerns have been raised about maintenance fees being charged on vacant plots, which residents deem unreasonable. ...
The Punjab and Haryana High Court has invalidated a 2020 amendment to Haryanas urban development rules that mandated real estate developers surrendering their licences to forfeit significant fees and land without compensation. The court deemed these provisions excessive, legally unsound, and infringing on developers constitutional rights. This ruling came after a developer challenged the states demand to forfeit Rs 31.76 crore and transfer 4.4 acres of land, despite the states failure to provide promised infrastructure. The court held that such forfeitures amounted to unjust enrichment and lacked legal justification. While the state may claim interest on certain fees, the principal amounts already paid cannot be forfeited. ...
Homebuyers in Karnataka are increasingly frustrated with the state Real Estate Regulatory Authority (K-RERA), which has recovered only Rs 92 crore of the Rs 758 crore owed by builders for delayed or incomplete projects as of December 31, 2024. Despite favorable rulings, many buyers await refunds, highlighting K-RERAs limited enforcement capabilities. The absence of a clear project closure policy further exacerbates the issue, leaving buyers in limbo over ownership and access to common areas. Consequently, homebuyers feel that K-RERA functions more as a symbolic entity than an effective regulatory body. ...
The Telangana High Court has directed the GHMC to seal illegal constructions immediately, even if show cause notices have already been issued. The court criticized GHMCs delays in taking action, allowing unauthorized buildings to continue unchecked. This order followed a case in Shaikpet, where a builder violated approved plans. The court also raised concerns about possible collusion between officials, politicians, and builders. GHMC has since issued internal instructions for swift enforcement, warning staff of contempt charges for non-compliance. The move aims to curb rampant illegal construction and reinforce accountability in urban planning. ...
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