Indore News Desk

15 minutes ago

• Indore district authorities sealed eight commercial establishments after inspections found major fire safety violations and non-compliance with mandatory norms.
• The action is part of an ongoing city-wide drive targeting commercial buildings that failed to install or maintain required fire protection systems.
• Several of the affected properties were found operating without adequate fire safety infrastructure, while some had non-functional or substandard equipment.
• The administration had previously issued notices and compliance deadlines to hundreds of commercial establishments across the city.
• Officials said inspections and enforcement measures will continue as authorities focus on improving fire preparedness and public safety in commercial buildings.Read more

Noida News Desk

1 hour ago

Noida International Airport at Jewar has commenced commercial passenger operations with the arrival of the first scheduled IndiGo flight from Lucknow, marking a major milestone for one of India's largest greenfield aviation infrastructure projects. The airport is expected to strengthen connectivity across the National Capital Region and western Uttar Pradesh while easing pressure on Delhi's Indira Gandhi International Airport. IndiGo will initially connect the airport to 16 domestic destinations as operations expand in phases.Read more

2 hours ago

Iraq has cancelled a USD 764 million project to upgrade and expand Baghdad International Airport after concerns were raised over possible irregularities in the tendering process and contract terms. The project had been awarded last year to a consortium comprising Luxembourg-based Corporacion America Airports and Iraqi real estate company Amwaj International. The decision comes amid the Iraqi government's wider anti-corruption efforts, which have led to increased scrutiny of major public contracts and infrastructure projects. The airport redevelopment was expected to play a significant role in improving Iraq’s aviation infrastructure and boosting passenger-handling capacity.Read more

Gurugram News Desk

16 Jun 2026

• The National Green Tribunal (NGT) has taken up a petition challenging a proposed construction and demolition (C&D) waste processing facility in Gurugram.
• Residents have raised concerns over the site's proximity to residential societies, schools, and public infrastructure, citing potential environmental and health risks.
• The tribunal has issued notices to multiple government agencies and sought their responses on the matter.
• The case has reignited the debate over balancing urban waste management needs with sustainable land-use planning and community welfare.Read more

Mumbai News Desk

16 Jun 2026

Cluster redevelopment is gaining traction across Mumbai as developers and public agencies increasingly pursue large-scale projects covering multiple buildings and neighbourhoods. Supported by policy incentives and redevelopment reforms, the model is helping consolidate fragmented land parcels and facilitate integrated planning for housing and infrastructure upgrades. Several major projects have recently advanced under this framework, reflecting a broader shift away from standalone society redevelopments towards area-wide urban renewal aimed at addressing ageing housing stock and land constraints in the city.Read more

16 Jun 2026

Andhra Pradesh Chief Minister N Chandrababu Naidu has invited venture capitalists and startup investors to explore business opportunities in the state, highlighting its growing industrial base, policy support and innovation-driven ecosystem. Speaking at a roundtable during his ongoing visit to Singapore, he said the state is focused on strengthening manufacturing, technology and entrepreneurship through structured initiatives like the Ratan Tata Innovation Hub and land pooling model. He also outlined Andhra Pradesh’s efforts in natural farming, education partnerships and industrial development, while engaging with global investors to expand cooperation across key sectors.Read more

Mumbai News Desk

16 Jun 2026

• BMC has identified 1,124 commercial establishments across Mumbai that are not complying with the Marathi-first signboard requirement during the first phase of a citywide inspection drive.
• The inspections covered more than 35,000 shops and establishments following directions to strengthen enforcement of Marathi signage regulations under the Shops and Establishments framework.
• Multiple media reports indicate that civic officials have issued notices to violators and are preparing further action against establishments that fail to comply within the stipulated timeframe.Read more

16 Jun 2026

• Kerala’s proposed AI-enabled township under Infopark Phase III in Kochi is facing legal challenges, delaying the progress of the large-scale technology project.
• Spread across nearly 300 acres, the development is expected to attract investments of around INR 25,000 crore and create about two lakh direct jobs.
• The project is being developed through a land-pooling model involving the Greater Cochin Development Authority (GCDA) and Infopark.
• Legal disputes linked to land acquisition and project approvals have emerged as key hurdles despite progress in planning and stakeholder consultations.
• The township remains a major part of Kerala’s strategy to expand its IT infrastructure and meet growing demand for technology and office space in Kochi.Read more

16 Jun 2026

Kimco Realty OP, LLC has priced an upsized private offering of USD 525 million in 3.5% exchangeable senior notes due in 2031, increasing the size of the offering from the initially proposed USD 500 million. The offering is expected to strengthen the company's capital position and support corporate requirements, including debt management and potential investments. The notes will carry a 3.5% annual interest rate and are backed by a senior unsecured guarantee from Kimco Realty Corporation. The move comes as the retail-focused REIT continues to manage its balance sheet and pursue growth opportunities across its portfolio.Read more

Mumbai News Desk

16 Jun 2026

• Maharashtra Chief Minister Devendra Fadnavis has said the northern arm of the Mumbai Coastal Road project is expected to be completed by December 2028.
• The corridor will create a signal-free route connecting Nariman Point to Bhayandar, easing pressure on the Western Express Highway.
• The project's northern section, stretching from Versova to Bhayandar, has been divided into multiple construction packages, including tunnels and elevated corridors.
• During his site visit, Shri Devendra Fadnavis also emphasised environmental compliance, including compensatory mangrove plantation, while reiterating plans to develop a new commercial district along the corridor.Read more

16 Jun 2026

Indian Hotels Company Ltd (IHCL) has expanded its hospitality portfolio in Uttar Pradesh with the opening of Ayodhyam, Ayodhya under its SeleQtions brand. The newly launched property features 162 keys and is positioned to cater to the increasing flow of visitors to one of India’s most prominent spiritual destinations. The opening comes amid sustained growth in religious and spiritual tourism across the country, particularly in Ayodhya, which has witnessed a significant rise in visitor numbers in recent years. Through the new hotel, IHCL aims to strengthen its presence in the religious tourism segment while offering accommodation that reflects the cultural and spiritual character of the city.Read more

16 Jun 2026

Maharashtra’s State Road Safety Council has not met for more than three years despite the state recording tens of thousands of road accidents and fatalities during the period. The statutory body, mandated to meet every six months, last convened in April 2023. Responsible for reviewing accident trends and coordinating safety measures across departments, the council’s prolonged inactivity has raised concerns over road safety governance and oversight in a state that continues to report one of the highest accident and fatality burdens in India.Read more

16 Jun 2026

S&P Global has flagged real estate overvaluation as an emerging risk for Hungary’s banking sector after a sustained surge in property prices over recent years. House prices in the country have more than tripled since 2015, marking the fastest growth rate in the European Union. Analysts noted that government-backed housing schemes, including low-interest mortgage support, have pushed borrowing levels higher and increased loan-to-value ratios. While no immediate housing crash is expected, concerns remain that weaker economic growth or wage slowdowns could expose vulnerabilities in bank asset quality.Read more

Mumbai News Desk

16 Jun 2026

Embassy Group has challenged a writ petition linked to allegations surrounding certain transactions, describing the filing as a repetition of issues that have already been examined by regulators and judicial forums. The company stated that the matter remains under review by the Securities and Exchange Board of India (SEBI) and maintained that previous proceedings had addressed similar claims. The development has drawn attention across the real estate and infrastructure sectors, given Embassy’s significant presence in commercial property, business parks and infrastructure-linked assets.Read more

Kochi News Desk

16 Jun 2026

• Kochi Metro Phase II, connecting JLN Stadium and Infopark, is now expected to be commissioned in August 2027.
• Utility shifting, construction complexities and coordination with multiple agencies have emerged as major reasons behind the latest delay.
• The 11.2-km elevated Pink Line corridor will have 11 stations and improve connectivity to Kakkanad, Infopark and SmartCity.
• Earlier funding-related hurdles have been resolved, allowing construction activities to gain momentum.
• The INR 1,957.05 crore project is expected to play a key role in supporting Kochi's growing IT, residential and commercial corridors.Read more

16 Jun 2026

• Around 5.40 lakh housing units are scheduled for delivery in 2026 across India’s top seven cities, marking the highest completion pipeline in over a decade, according to ANAROCK Research.
• The Mumbai Metropolitan Region and Pune together account for nearly 57% of total expected deliveries, highlighting strong concentration in Maharashtra’s residential market.
• While the outlook reflects robust project completions and steady housing demand, developers may face execution challenges from global geopolitical tensions, supply chain disruptions, and rising construction costs.Read more

Mumbai News Desk

16 Jun 2026

Kriti Sanon, along with her mother Geeta Sanon and sister Nupur Sanon, has sold four apartments in Mumbai’s Andheri West for a combined INR 8.9 crore, according to property registration records. The transactions involve residential units purchased in 2020 and sold in June 2026, generating substantial capital appreciation over the holding period. The deals highlight the sustained strength of Mumbai’s premium residential market, particularly in established western suburban locations where property values have witnessed significant growth despite fluctuations in the broader real estate cycle.Read more

16 Jun 2026

Chennai-based residential developer Casagrand Premier Builder has received approval from the Securities and Exchange Board of India (SEBI) to launch its proposed INR 1,220 crore initial public offering (IPO). The offering comprises a fresh issue of equity shares worth INR 1,200 crore and an offer for sale of up to INR 20 crore by promoter entities. The company had filed its draft red herring prospectus in December 2025 and received SEBI’s observations on June 8, clearing the way for the public issue. A substantial portion of the proceeds will be utilised for debt reduction at both the company and subsidiary levels. The IPO comes as Casagrand continues to expand its presence across Chennai, Bengaluru, Hyderabad and Coimbatore, with a sizeable pipeline of completed, ongoing and upcoming residential projects.Read more

16 Jun 2026

Italian authorities have uncovered a major tax credit fraud linked to the country's former Superbonus home renovation incentive programme, leading to the seizure of more than EUR 560 million in tax credits. Investigators found that a criminal network allegedly used dozens of mostly fictitious companies to create credits for construction work that was never carried out. The probe involves redevelopment projects across multiple residential buildings and has led to investigations against 12 individuals for suspected fraud and money laundering. The case has once again drawn attention to the financial impact of Italy's costly Superbonus scheme.Read more

16 Jun 2026

The Union government has approved a highway upgradation project worth INR 1,880 crore in Goa, aimed at improving connectivity, easing congestion and strengthening transport infrastructure in the coastal state. The project, cleared in the past week, will involve the development and modernisation of key highway stretches that serve both intra-state traffic and long-distance freight movement. The approval forms part of the Centre’s broader road infrastructure expansion programme and is expected to improve travel efficiency, road safety and access to major economic and tourism hubs across Goa. Officials said the upgraded corridors would support rising traffic demand, facilitate movement between urban centres and industrial areas, and enhance connectivity with neighbouring states. The project will be executed under the National Highways development framework and is intended to support long-term regional mobility and economic activity.Read more

Priyanka Vig

16 Jun 2026

India’s hospitality industry is emerging as one of the fastest-growing and most structurally important sectors in the economy. The industry is entering a strong structural growth phase driven by rising demand across accommodation, travel, food & beverage, and events. The sector spans everything from luxury hotels to budget stays and contributes significantly to GDP, employment, and local economies. With market projections indicating rapid expansion, improving occupancy, and rising RevPAR, India’s hotel ecosystem is showing sustained momentum even amid new supply additions. However, branded hotel penetration remains low compared to global benchmarks, highlighting a large untapped opportunity for long-term expansion.Read more

Mumbai News Desk

16 Jun 2026

The Bombay High Court has quashed a deemed conveyance granted to a cooperative housing society in Andheri, ruling that the competent authority under the Maharashtra Ownership Flats Act (MOFA) does not possess the power to review or alter its own final orders. The court held that a Deputy District Registrar exceeded statutory authority by revisiting and modifying an earlier conveyance order through a subsequent proceeding. The judgment reinforces the principle of legal finality in deemed conveyance matters and clarifies the limited powers available to authorities administering MOFA. Legal experts believe the ruling could influence future conveyance disputes by establishing clearer boundaries around administrative review powers in housing society and property ownership cases.Read more

16 Jun 2026

Yadong Group has announced that its subsidiary, Amazing Ecotech, has entered into a construction agreement for a manufacturing facility in Vietnam. The contract is valued at HKD 179.8 million and marks a significant step in the company's plans to strengthen its production capabilities in Southeast Asia. The development reflects the growing trend of companies expanding manufacturing operations beyond China to diversify supply chains and support future business growth. The project is expected to support Amazing Ecotech’s operational expansion and enhance its manufacturing infrastructure in the region.Read more

Ahmedabad News Desk

16 Jun 2026

• Gujarat is planning a dedicated space manufacturing hub near Ahmedabad to strengthen its presence in India's rapidly growing space sector.
• The proposed ecosystem will support startups, private companies, and component manufacturers with advanced infrastructure and testing facilities.
• A INR 100-crore testing centre is also being planned to help space-tech firms develop and validate their products domestically.
• The initiative aims to attract investment, generate high-skilled employment, and position Gujarat as a major destination for aerospace manufacturing and innovation.Read more

16 Jun 2026

The Enforcement Directorate (ED) has arrested two former executives of the Reliance Anil Ambani Group as part of an ongoing money laundering investigation. Sateesh Seth and Gautam Doshi were taken into custody in Mumbai on Friday under the provisions of the Prevention of Money Laundering Act (PMLA). The agency is seeking to move the accused to Delhi on transit remand as the case has been registered in the national capital. Both individuals previously served as directors of Reliance Telecom Ltd. The arrests mark a development in the ED’s ongoing investigation being conducted under India’s anti-money laundering framework.Read more

Noida News Desk

16 Jun 2026

Noida International Airport has successfully completed a full-scale aircraft turnaround trial as it moves closer to commencing commercial operations. The exercise tested the airport's ability to manage passenger movement, baggage handling, aircraft servicing and ground operations in a live environment. Conducted as part of the airport's operational readiness programme, the trial brought together airlines, ground handlers and airport teams to evaluate coordination across key functions. The milestone follows recent validation flights and regulatory assessments, signalling that the airport is entering the final phase before opening to passengers.Read more

16 Jun 2026

Lonavala transforms into a breathtaking monsoon escape where misty viewpoints, roaring waterfalls, serene lakes, and historic forts come alive in full glory. From iconic spots like Tiger Point and Bhushi Dam to peaceful retreats such as Pawna Lake and Tungarli Dam, each destination showcases the hill station’s dramatic seasonal beauty, making it one of Maharashtra’s most unforgettable rainy-season getaways.Read more

16 Jun 2026

• Karnataka government plans to complete full land management digitisation within a 100-day timeline.
• The move aims to improve transparency, accuracy, and efficiency in land record administration.
• Manual dependency in land records will be reduced through structured digital systems.
• The initiative is expected to speed up land transactions and improve inter-department coordination.
• The programme is part of Karnataka’s ongoing governance reforms focused on technology-led public service delivery.Read more

16 Jun 2026

The Madhya Pradesh government has approved a new logistics park in Indore district with an estimated investment exceeding INR 600 crore, strengthening the state's push to expand freight and supply chain infrastructure. The project will be developed at Machal village after the Madhya Pradesh Industrial Development Corporation (MPIDC) allotted around 23 hectares of land to a private developer. Strategically located near the Indore-Ahmedabad National Highway and linked to the Pithampur industrial region, the facility is expected to improve cargo movement, warehousing efficiency and supply chain connectivity for manufacturing and industrial clusters in western Madhya Pradesh. The development comes amid broader investments in logistics and industrial infrastructure across the Indore-Pithampur belt, which is emerging as one of central India's key manufacturing and distribution hubs.Read more

16 Jun 2026

The Union government has clarified that migrant workers are eligible to receive housing assistance under the Pradhan Mantri Awaas Yojana-Gramin (PMAY-G), provided they meet the scheme's eligibility criteria and continue to be part of identified beneficiary households in rural areas. The clarification comes amid questions over whether migration for employment affects entitlement under the rural housing programme. Officials stated that temporary or seasonal migration does not automatically disqualify beneficiaries from receiving assistance under PMAY-G. The clarification is significant for millions of workers who migrate from rural areas to urban centres for employment while retaining family and residential links in their native villages. The government reiterated that beneficiary selection under PMAY-G is based on approved eligibility criteria and verified housing deprivation data, rather than migration status alone.Read more

Mumbai News Desk

16 Jun 2026

Oberoi Realty infused INR 268.50 crore into its wholly owned subsidiary Centerstage Realty Private Limited on 9 June 2026, meeting the minimum paid-up capital requirement stipulated in the bid documents for the Railway Land Development Authority's Bandra East land parcel. The SPV, incorporated just a week earlier on 2 June 2026, will exclusively execute the development of approximately 45,371 sq m of railway land adjoining the Western Express Highway, leased for 99 years. This follows Oberoi's earlier first tranche payment of INR 247.50 crore to RLDA and its winning bid of INR 5,400 crore in February 2026.Read more

16 Jun 2026

• The Maharashtra government has approved a INR 5,575 crore expansion of the Navi Mumbai Metro network, covering Metro Line 1A and Line 2.
• The project will create a 28-km corridor connecting Sagar Sangam with the upcoming Navi Mumbai International Airport and add 13 new stations to the network.
• Approved as part of a broader INR 22,611 crore infrastructure package, the expansion aims to strengthen airport connectivity, improve urban mobility and enhance public transport integration across Navi Mumbai.Read more

16 Jun 2026

The National Company Law Tribunal (NCLT) has dismissed an insolvency petition filed by Empire Transport Services Ltd (ETSL) against Noida Metro Rail Corporation (NMRC), ruling that the matter involved genuine pre-existing disputes rather than a simple payment default. ETSL had claimed operational dues of around INR 7.09 crore under a bus operations agreement signed in 2016. However, NMRC argued that the company failed to meet contractual obligations and service standards. The tribunal found that multiple disputes over service quality, penalty deductions and contract performance existed before the insolvency notice was issued, making the case unsuitable for insolvency proceedings under the Insolvency and Bankruptcy Code.Read more

16 Jun 2026

The United States and Canada have postponed the opening of the USD 4.7 billion Gordie Howe International Bridge connecting Detroit and Windsor, Ontario, despite the project being ready for launch. The delay comes after concerns raised by the Trump administration, although officials from both countries have not publicly detailed the outstanding issues. The bridge, financed by Canada and under construction since 2018, is expected to improve cross-border trade, reduce truck congestion, and lower transportation costs. Discussions between the two governments are ongoing as they work towards resolving remaining concerns before opening the crossing.Read more

Mumbai News Desk

16 Jun 2026

MSRDC has begun installing specialised wind barriers on the cable-stayed bridge section of the Mumbai-Pune Expressway’s missing link project to improve motorist safety. The barriers are being erected along the 650-metre bridge over Tiger Valley, where strong crosswinds can affect vehicle stability due to the structure’s height and location. Designed to reduce wind impact and lateral movement, the installation is intended to enhance safety during monsoons and extreme weather while supporting the operation of the new corridor.Read more

16 Jun 2026

• Housing societies across Pimpri-Chinchwad have opposed PCMC's move to levy property tax on common amenities such as clubhouses, swimming pools, libraries and society offices.
• Several residential complexes have received tax demands ranging from around INR 1 lakh to over INR 5 lakh, triggering concerns among residents.
• Societies argue that homeowners already pay property tax on individual flats and bear the cost of maintaining common facilities through monthly charges.
• PCMC has clarified that the levy is not new and follows a citywide assessment drive that identified previously unassessed amenity spaces.
• Resident groups and housing federations have termed the move an additional financial burden and have questioned its fairness.Read more

16 Jun 2026

• Vijayawada Municipal Corporation has launched a QR code-based door numbering system for all properties in the city.
• Each building will receive a unique QR code linked to a central municipal database.
• The system will store ownership details, property tax records, and utility connection data.
• The initiative aims to improve transparency, simplify access to property information, and strengthen civic service delivery.
• It will also support better tax administration, faster address verification, and improved coordination between municipal departments.Read more

Mumbai News Desk

16 Jun 2026

• Mobile network services are being restored across Mumbai Metro Line 3’s underground Aqua Line after a prolonged connectivity gap.
• Airtel has activated services between SEEPZ and BKC, while Vodafone Idea has extended coverage from SEEPZ to Acharya Atre Chowk, with further expansion planned.
• The rollout follows the resolution of infrastructure-related issues between telecom operators and the Mumbai Metro Rail Corporation.
• Full corridor-wide coverage, including the stretch up to Cuffe Parade, is expected to be introduced in phases over the coming weeks.Read more

16 Jun 2026

The Jammu Municipal Corporation (JMC) has operationalised an integrated road maintenance system that combines Artificial Intelligence (AI)-based road monitoring with mechanised pothole repair technology across Jammu city. Introduced in the past week ahead of the monsoon season, the initiative involves municipal vehicles equipped with AI-enabled cameras that continuously monitor roads, identify defects, geo-tag locations and generate digital reports for engineering teams. The identified defects are then repaired using a cold emulsion pothole patching machine commissioned by the civic body. According to officials, the system is designed to reduce the time taken between defect detection and repair while improving road safety and maintenance efficiency. Beyond potholes, the AI platform can also identify a range of civic issues including waterlogging, open manholes, illegal parking, encroachments and waste dumping, supporting broader urban management objectives.Read more

16 Jun 2026

Kenya has awarded a USD 2.9 billion contract to China Communications Construction Co (CCCC) for the expansion and modernisation of Nairobi's Jomo Kenyatta International Airport (JKIA), reviving a major infrastructure project nearly two years after a proposed agreement with the Adani Group was cancelled. The project, which forms part of a long-term airport development strategy extending to 2045, will include upgrades to runways, passenger terminals, aircraft parking areas, access roads and support infrastructure. The contract value is significantly higher than the approximately USD 2 billion airport concession previously proposed by Adani. The development follows Kenya's decision to adopt a new procurement and financing framework after political opposition and legal challenges led to the termination of the earlier proposal in 2024.Read more

16 Jun 2026

The Delhi government is considering amendments to building bylaws that would make basic fire safety equipment mandatory in low-rise residential buildings, a category that currently falls outside compulsory fire certification requirements. The proposal follows a series of fatal fire incidents in the capital, including recent tragedies in Malviya Nagar, Vivek Vihar and Palam. Under the proposed framework, residential buildings below 15 metres in height may be required to install smoke detectors, fire extinguishers and other basic fire protection measures. The Delhi Fire Service has also recommended a phased retrofitting programme for existing buildings. If implemented, the move would significantly expand fire safety compliance across Delhi's residential stock, much of which is currently exempt from mandatory fire safety clearances under prevailing regulations.Read more

16 Jun 2026

Ambuja Cements has projected India's cement demand growth to moderate to around 5% in FY2026-27, compared with an estimated 6.5–7.5% growth in FY2025-26. The Adani Group company said demand will continue to be supported by housing construction, rural development programmes and government-led infrastructure investments, although growth is expected to ease from the previous fiscal. The company remains focused on expanding capacity through a mix of greenfield and brownfield projects while integrating recent acquisitions. Ambuja increased its installed cement capacity to 109 million tonnes per annum (MTPA) in FY2025-26 from 89 MTPA a year earlier and aims to reach 119 MTPA in FY2026-27. The company also continues to consolidate its cement operations under a unified platform through mergers and acquisitions.Read more

16 Jun 2026

A Mumbai court has upheld the tenancy rights of a woman occupant in a long-running property dispute, ruling that her lawful occupation and tenancy status could not be extinguished through competing ownership claims. The judgment reaffirmed protections available to tenants under existing tenancy laws and clarified that tenancy rights survive changes in property ownership. The ruling is expected to have implications for similar disputes involving inherited tenancy claims, redevelopment projects and landlord-tenant conflicts across the city.Read more

15 Jun 2026

• The Delhi Development Authority issued a public notice on 10 June 2026 warning architects, supervisors, and structural engineers that submitting false information or misrepresenting facts in building permission applications will invite strict regulatory action under Clause 2.9.3 of the Unified Building Bye-Laws for Delhi–2016.
• Professionals found in violation face blacklisting, debarment, or any other action deemed appropriate by the Competent Authority under applicable laws and regulations.
• Property owners have been separately advised to engage only qualified and registered professionals and ensure full compliance with the Unified Building Bye-Laws for Delhi–2016.Read more

Mumbai News Desk

15 Jun 2026

Mumbai's annual Mithi River desilting exercise has missed its June 10 completion deadline, with major stretches in Kurla and Bandra-Kurla Complex (BKC) still awaiting clearance before the peak monsoon season. While the Brihanmumbai Municipal Corporation (BMC) has reported that around 84% of the planned desilting work has been completed, pending works at several critical locations have raised concerns over the city's flood preparedness. Officials have attributed the delays to operational challenges and have stated that work will continue until the remaining stretches are cleared.Read more

15 Jun 2026

Residents within the New Delhi Municipal Council (NDMC) jurisdiction are likely to come under a uniform property tax regime in the coming weeks as the civic body prepares to implement a revised assessment framework based entirely on the Unit Area Method (UAM). The move follows amendments to the NDMC Act, 1994, under the Jan Vishwas (Amendment of Provisions) Bill, 2026. NDMC has completed technical preparations, updated its online property tax platform and approved the required bye-laws. The reform will replace the decades-old rateable value assessment system still applicable to a small section of properties and bring all properties under a single taxation framework. Officials said the change is intended to improve transparency, reduce disputes and create a more predictable method of calculating property tax for property owners in the NDMC area.Read more

15 Jun 2026

The Municipal Corporation of Delhi (MCD) is considering a reduction in regularisation charges for unauthorised constructions after receiving a limited response to the recently launched SWAGAM portal. Introduced to facilitate self-declaration and regularisation of building deviations, the portal has seen fewer applications than anticipated since its rollout. Civic officials are now evaluating revisions to the fee structure to encourage greater participation from property owners and improve compliance with building regulations. The proposal is part of MCD's broader effort to address unauthorised construction through a digital framework rather than relying solely on enforcement measures. Any reduction in charges is expected to benefit owners of residential and commercial properties seeking to regularise deviations and obtain approvals under the scheme.Read more

Nagpur News Desk

15 Jun 2026

• The Maharashtra government plans to introduce plot-wise Ready Reckoner (RR) rates in Nagpur through a micro-zoning model over the next two years.
• The new system aims to reflect the actual market value of individual plots instead of assigning uniform rates across larger areas.
• Officials believe the initiative will improve transparency in property valuation and reduce disparities in stamp duty assessments.
• The move could serve as a pilot model for more scientific and data-driven real estate valuation across the state.Read more

15 Jun 2026

DigiCo Infrastructure REIT has entered into a conditional agreement to divest its LAX1 and LAX2 sites, marking a strategic move in its asset portfolio management. While the company has not disclosed financial details of the transaction, it has reaffirmed its FY26 underlying EBITDA guidance of AUD 125 million, indicating confidence in its operating performance despite the planned asset sale. The announcement comes as infrastructure and data centre-focused REITs continue to optimise their portfolios to support growth, capital allocation strategies and long-term operational efficiency.Read more

15 Jun 2026

Indian Railways has launched the Madgaon-Karwar Express service, establishing a new rail link between Goa and the coastal districts of Karnataka. The train was flagged off from Madgaon railway station by Union Minister of State for Railways and Jal Shakti V. Somanna in the past week. The service is intended to improve regional connectivity, provide an affordable travel option for commuters, students, tourists and business travellers, and support economic interaction between the two states. Railway officials said the train would facilitate smoother passenger movement along the Konkan corridor while contributing to tourism, trade and socio-economic activity in the region. The launch forms part of the Centre's broader efforts to expand rail infrastructure, improve passenger services and strengthen connectivity across key growth corridors in western and southern India.Read more