03 Mar 2026

The Haryana Real Estate Regulatory Authority (H-RERA) has directed Parsvnath Hessa Developers to pay compensation of more than INR 77 lakh to a couple for a significant delay in possession of their apartment in the Parsvnath Exotica residential development on Golf Course Road, Gurugram. The complainants booked a 3,390 sq ft flat in 2012 for about INR 3.4 crore, paying approximately INR 1.5 crore up front, with possession originally due by January 2015. Construction halted for four years and, even when possession was eventually offered in March 2018, the unit lacked a required occupation certificate. H-RERA's adjudicating officer held that indefinite delays were impermissible under Section 18(1) of the Real Estate (Regulation and Development) Act, 2016, and awarded compensation for loss of profit, litigation costs and interest, while rejecting additional claims for mental anguish and lost opportunities as excessive.Read more

03 Mar 2026

The Allahabad High Court has upheld the legality of a recent property tax increase by the Ghaziabad Municipal Corporation (GMC), dismissing a petition in the past week that challenged the revised tax slabs. The bench ruled that the method for fixing minimum monthly rent rates (MMRR) and the resultant hike in property tax were in accordance with statutory provisions. The tax structure, introduced on 1 April last year, raised per-square-foot rates based on road width, triggering significant increases in annual tax bills for many residents. Petitioners had contended that successive hikes violated municipal rules limiting increases to once every two years. The court found no procedural infirmity and confirmed that the revised slabs complied with legal requirements. Officials said the new structure is expected to generate additional revenue of over INR 60 crore for the civic body.Read more

Ahmedabad News Desk

03 Mar 2026

The Ahmedabad Municipal Corporation (AMC) has carried out a large-scale demolition drive to remove unauthorised constructions around Vadu Lake and Ropda Lake in the Ahmedabad Metropolitan Region. Officials said the action was taken to restore the eco-sensitive lake peripheries and enforce building regulations in areas where encroachments had narrowed buffer zones, impaired drainage, and disrupted natural water flows. AMC's teams removed various structures including boundary walls, temporary sheds and other illegal additions identified along designated lake protection zones. The exercise was conducted with support from law enforcement, local stakeholders and technical teams tasked with demarcation of no-construction limits. Civic authorities said the drive aligns with ongoing efforts to revive urban water bodies, protect floodplains and improve ecological resilience in the city's expanding urban landscape, and that follow-up monitoring would ensure compliance going forward.Read more

02 Mar 2026

The Kozhikode City Corporation has ordered a comprehensive structural safety audit of all corporation-owned buildings in Kozhikode, Kerala, following the collapse of part of a decades-old municipal structure in the Valiyangadi market area that killed four head-load workers and injured a fifth. The directive was issued by Mayor O Sadasivan, who also sought a detailed report into the circumstances leading to the tragic accident. The incident has triggered protests by traders and political parties over alleged neglect of ageing civic infrastructure. Shop owners were instructed to vacate the dilapidated building, and officials said technical inspections had confirmed its unsafe condition. The move aims to avert similar disasters by identifying and remedying structural vulnerabilities across the city's portfolio of older public properties.Read more

02 Mar 2026

A recent audit by the Comptroller and Auditor General of India has pointed out irregularities in the implementation of the Pradhan Mantri Awas Yojana-Gramin in Bihar. The report, tabled in the state Assembly in the past week, found that houses were sanctioned to ineligible beneficiaries, including minors whose parents were alive, and that several units were wrongly geo-tagged at distant locations, even outside the state. The findings raise concerns over beneficiary verification, monitoring systems, and fund utilisation under the rural housing scheme.Read more

02 Mar 2026

Land & Buildings Investment Management has urged First Industrial's board to take swift actions to maximize shareholder value, recommending an asset sale program of USD 500 million to USD 1 billion with proceeds returned to investors. The firm has also nominated its founder and CIO for the board, proposed exploring strategic alternatives if market discounts persist over six months, and called for a board refresh. This intervention highlights activist investor influence in driving stronger governance and tangible strategies in the industrial real estate sector, particularly to reduce trading discounts and unlock shareholder value.Read more

02 Mar 2026

The Maharashtra government has informed the state assembly that it will intensify efforts to recover pending dues ordered by the Maharashtra Real Estate Regulatory Authority (MahaRERA), as the recovery rate remains at around 34 per cent. Urban Development Minister Shambhuraj Desai said district collectors have been directed to speed up action against defaulting developers. Properties of errant builders will be identified and attached through Revenue Recovery Certificates. The government will monitor weak-performing districts closely. A significant portion of the total INR 792 crore ordered for recovery is still pending, affecting homebuyers awaiting compensation.Read more

Delhi News Desk

02 Mar 2026

Delhi's government has strengthened rural infrastructure with a new initiative in Mundka, involving 49 development projects valued at INR 264 crore. The projects aim to enhance road connectivity, sewerage systems, drinking water supply, and other civic amenities, aligning rural areas with urban standards. The Chief Minister highlighted that nearly INR 1,600 crore had been invested in rural development over the past year, with an additional INR 1,000 crore allocated for broader village development. Funding comes through state schemes including the Delhi Gramin Vikas Board, Chief Minister's Development Fund, and MLA Local Area Development Fund.Read more

02 Mar 2026

The Brihanmumbai Municipal Corporation (BMC) has proposed a total budget outlay of INR 80,952.56 crore for the financial year 2026-27, reflecting an increase of 8.77 per cent over the previous year's estimate. Capital expenditure has been set at INR 48,164.28 crore, marking a rise of nearly 11.6 per cent compared to the revised allocation for FY26, underscoring a continued focus on infrastructure-led spending. Revenue expenditure has also been increased, alongside higher projected revenue income driven partly by improved property tax collections. The budget was tabled earlier this week by Municipal Commissioner Bhushan Gagrani and comes after downward revisions to both capital and revenue spending in the ongoing fiscal following expenditure rationalisation measures.Read more

02 Mar 2026

The Union Cabinet has sanctioned a 3.33-kilometer extension of Ahmedabad Metro�s North-South corridor from GIFT City to Shahpur, featuring three elevated stations and costing INR 1,067.35 crore. Expected to benefit over 23,000 passengers initially and 58,000 by 2041, the project aims to improve connectivity for commuters, businesses, and educational institutions in the GIFT region. GMRC will oversee construction, creating around 1,000 jobs during the build phase and 250 operational roles afterward, with indirect employment opportunities also anticipated.Read more