17 minutes ago

Property tax emerged as the largest contributor to Chandigarh Municipal Corporation's own revenue in the first quarter of FY27, helping the civic body collect INR 134.47 crore from its own sources between April and June. The corporation received an additional INR 300 crore grant from the Chandigarh administration, taking its total receipts for the quarter to INR 434.47 crore. Property tax contributed INR 64.8 crore, while water charges generated INR 37.83 crore. The MC spent INR 254.45 crore during the quarter, including expenditure on salaries, roads, parking, waste management and stormwater drainage.Read more

47 minutes ago

Krisala Developers has proposed a Swaminarayan Temple spread across approximately 1.5 acres next to its Land of Dreams township in Pune’s Vadgaon-Lonavala Growth Corridor. The proposed religious and cultural facility is expected to add to the social infrastructure of the rapidly developing residential belt. The temple is currently in the planning and development stage, with its construction schedule yet to be confirmed by the temple trust. Once completed, the facility is expected to host religious observances, cultural programmes and community events, adding another community-oriented destination to the emerging residential micro-market.Read more

1 hour ago

Apple supplier Largan Precision has acquired a property in central Taiwan for TWD 3.08 billion, equivalent to about USD 96.8 million. The purchase adds to the company’s property holdings in Taichung as it expands its manufacturing operations. Largan Precision is a major producer of optical lenses and supplies components to smartphone makers, including Apple. The acquisition comes as the company looks to expand its production capabilities and develop products for growing demand in areas beyond its traditional smartphone camera lens business.Read more

1 hour ago

The Enforcement Directorate’s advisory cautioning homebuyers against fraudulent real estate schemes has received support from property experts, legal professionals and homebuyer groups in Odisha. The advisory followed the agency’s investigation into an alleged real estate fraud in Ahmedabad, where it provisionally attached immovable properties worth 129.80 crore. The ED said the accused allegedly collected money through projects marketed without mandatory approvals and RERA registration, while offering unusually high assured returns. The agency has advised buyers to verify approvals, RERA registration, title records and encumbrances before committing funds to property transactions.Read more

2 hours ago

The Odisha government has unveiled a comprehensive highway expansion blueprint proposing the augmentation of 7,290 km of road corridors across the state, framed under its Vision 2036 roadmap aligned with the Centre's Viksit Bharat 2047 strategy. The plan comprises 3,300 km of National Highway corridors, 2,000 km of state non-NH arteries, 760 km of inter-corridor and coastal connectivity routes, and 850 km of district-level capacity augmentation. The Principal Secretary of the Works Department has directed all district collectors to align local land-use and project planning with the new master plan.Read more

2 hours ago

House of Abhinandan Lodha (HoABL) has entered into a joint development arrangement with an arm of tile manufacturer NITCO and its promoter Vivek Talwar to develop a 40-acre mixed-use project in Alibag. The project, spread across land parcels in Thal and Lonare, will comprise apartments, townhouses and a luxury hotel. HoABL plans to invest around INR 1,000 crore, primarily towards construction. The development is expected to generate revenue of around INR 3,000 crore for HoABL and up to INR 1,500 crore for NITCO over five years.Read more

3 hours ago

The Telangana Real Estate Regulatory Authority (TG RERA) has imposed a INR 98 lakh penalty on the promoter of Chabbras Bentley Woods in Jeedimetla, Hyderabad, for marketing and selling villas without registering the development as a villa project. The authority also directed the promoter to refund INR 20 lakh to a buyer within 30 days and barred further marketing of the development as a villa project. TG RERA found that the common layout, 44 villas and shared amenities constituted a single project, rejecting the promoter’s argument that individual plot permissions exempted it from RERA registration.Read more

3 hours ago

India's alternative real estate segments are drawing serious institutional attention, with co-living and senior living emerging as the two most-watched bets. Co-living inventory is projected to more than triple to nearly 1 million beds by 2030, while the market value could grow roughly fivefold to 20,000 crore. Senior living, meanwhile, is expanding even faster in percentage terms, with one estimate putting its market at a 25.9% compound annual growth rate through 2031, though it starts from a far smaller organised base of just over 22,000 units against a demand pool running into millions. Both sectors remain under 5% penetrated, making the real question not whether they'll grow, but which one gets there faster.Read more

3 hours ago

Australian property developer Ingenia Communities Group has offered to acquire all shares of residential developer Peet in a deal valuing the company at AUD 992.5 million (USD 710.93 million). Under the proposal, Peet shareholders would receive AUD 0.68 in cash and 0.3367 Ingenia stapled securities for each share, implying a value of AUD 2.12 per share. The offer represents a 17.1% premium to Peet’s last closing price before its shares entered a trading halt. Peet’s board has unanimously recommended the proposal, subject to there being no superior offer.Read more

4 hours ago

Heavy rainfall triggered a landslide at Barabanka Ghat on National Highway 520 in Odisha's Keonjhar district on Monday, with a section of hillside collapsing and covering nearly half the carriageway with soil, rocks and debris. The National Highways Authority of India (NHAI) launched clearance operations at the site, while police issued advisories to motorists travelling on the affected stretch. The disruption comes amid IMD orange alerts for heavy rainfall issued across several Odisha districts.Read more

4 hours ago

CapitaLand India Trust (CLINT) is shifting a portion of its outstanding foreign-currency debt from Singapore dollars to Indian rupees as the Indian currency has weakened over the past 12–18 months. The Singapore-listed real estate investment trust is adopting the move as a natural hedge against currency fluctuations, aligning a larger share of its borrowings with its Indian assets and operating cash flows. CLINT has been increasing its onshore rupee borrowing as part of its funding strategy, with Indian rupee-denominated debt expected to account for a larger proportion of its overall debt following the latest refinancing plans.Read more

4 hours ago

The Haryana Real Estate Regulatory Authority (Haryana RERA), Gurugram, has rejected a complaint after finding that a provisional booking, without a subsequent allotment or agreement for sale, was insufficient to establish the complainant as an allottee under the Real Estate (Regulation and Development) Act, 2016. The authority examined the documents and circumstances surrounding the booking and held that the statutory relationship between promoter and allottee could not be presumed solely from the provisional transaction. The ruling underscores the importance of formal allotment and contractual documentation in establishing rights under RERA.Read more

5 hours ago

A Hong Kong court has rejected PwC International’s request to be removed from a legal claim brought by the liquidators of China Evergrande Group. The liquidators are seeking 57 billion yuan (USD 8.48 billion) in damages from PwC International, PwC Hong Kong and PwC’s China arm over alleged negligence in auditing Evergrande. The court said PwC International owed a duty of care to Evergrande and that the case should proceed to trial, allowing further document discovery and questioning. PwC International disagreed with the decision and said it was reviewing its legal options.Read more

5 hours ago

The first operational stretch of Pune Metro Line 3, connecting Hinjawadi with Balewadi, is likely to be inaugurated by Prime Minister Shri Narendra Modi before the end of September, according to officials from the Pune Metropolitan Region Development Authority (PMRDA). Maharashtra Deputy Chief Minister Shri Devendra Fadnavis has invited the Prime Minister to Pune for the launch. The 13-km Maan-R K Laxman Museum section, covering 12 stations, received provisional safety authorisation from the Commissioner of Metro Rail Safety on July 23 and is awaiting a formal inauguration date.Read more

6 hours ago

Karnataka Minister Ramalinga Reddy has urged Chief Minister D K Shivakumar to reconsider the proposed annual residential parking fee of INR 15,000 to INR 25,000 for vehicles parked on public roads outside homes in Bengaluru. The proposed charges under the Greater Bengaluru Authority’s draft parking rules vary by vehicle type, with hatchbacks, sedans and SUVs facing different fees. Reddy said parking regulation was necessary to address the city’s growing vehicle population and traffic problems, but argued that families without adequate parking space in older buildings and smaller homes should not face another financial burden.Read more

Kochi News Desk

6 hours ago

Kochi Metro Rail Limited (KMRL) has begun survey work for extending Kochi Water Metro services from Chittethukara to Infopark, covering an approximately 2.5-km stretch. The extension, part of the originally planned Vyttila-Eroor-Kakkanad-Infopark route, has been pending for an extended period owing to a government decision on removing the Kozhichira bund in Kadambrayar, amid concerns over saline water intrusion into the area.Read more

7 hours ago

ESDS Software Solution Ltd has fixed a price band of INR 408-429 per share for its INR 720-crore initial public offering, set to open for subscription on 28 August and close on 1 September. The IPO is entirely a fresh issue of equity shares, with INR 576 crore earmarked for purchasing and installing cloud computing equipment and data centre infrastructure. At the upper end of the price band, the issue implies a market capitalisation of approximately INR 5,028 crore.Read more

Gurugram News Desk

7 hours ago

Haryana's Department of Town and Country Planning (DTCP) has cancelled the licence granted to Ocean Seven Buildtech Pvt Ltd for an affordable group housing colony in Sector 69, Badshahpur, Gurugram, after finding that only around 10 per cent of construction work had been completed despite the project's approval deadline lapsing years ago. The move follows a similar cancellation of the developer's licence for a separate project in Sector 109, with the department stating that the licensed land now stands vested with the government.Read more

8 hours ago

Larsen & Toubro’s construction and mining machinery business has partnered with France-based FAYAT Road Equipment to market and support BOMAG’s specialised road construction equipment in India. The partnership covers marketing, sales, after-sales services and spare parts supply. BOMAG, part of FAYAT’s road equipment division, manufactures machinery and technologies used in road construction and infrastructure development. The arrangement will add BOMAG’s equipment range to L&T’s existing road machinery portfolio, allowing the Indian engineering major to cater to a wider range of road construction and maintenance applications through its customer network and nationwide product support capabilities.Read more

8 hours ago

ITC Hotels Ltd has signed a management agreement for a 22-key boutique retreat in Swaraj Dweep, formerly known as Havelock Island, in the Andaman and Nicobar Islands. The property will operate under the Storii by ITC Hotels brand, expanding the company's presence in leisure destinations. The move comes as Swaraj Dweep continues to attract travellers for its natural surroundings and tourism experiences. Separately, Swiggy Dineout has partnered with Cinepolis and Asian Cinemas to introduce QR-based food ordering from movie seats, allowing customers to browse menus, place orders and make payments without waiting in queues.Read more

9 hours ago

Avaada Group has signed an initial agreement with the Haryana Enterprises Promotion Centre (HEPC) to facilitate the development of a 300-acre Zero-CBAM Green Industrial Campus in Hisar, with a proposed investment of INR 10,000 crore. The project is expected to create more than 5,000 jobs and is planned as an integrated industrial ecosystem powered by round-the-clock renewable energy. The campus will target industries seeking to reduce carbon emissions, improve energy security and prepare for international sustainability requirements, including the European Union’s Carbon Border Adjustment Mechanism (CBAM).Read more

9 hours ago

Heavy rainfall in northern Kannur has triggered mudslides, damaged a protection wall at a National Highway construction site and disrupted traffic at multiple locations. A mudslide at Elayavoor followed the collapse of the protection wall, while another major mudslide near Chekuthan Thodu at Palchuram blocked traffic. District authorities have directed officials to clear mud and rocks from affected stretches and have warned of further mudslides as rain continues. The India Meteorological Department has also issued yellow alerts for several Kerala districts, including Kannur, amid the possibility of isolated heavy rainfall.Read more

10 hours ago

Tata Steel has secured interim relief from coercive action over a INR 1,755 crore mining demand raised by the Jharkhand government in connection with alleged excess coal extraction at its West Bokaro Colliery. The company had challenged the demand before the revisional authority of the Ministry of Coal, arguing that the notice lacked sufficient basis. The authority has admitted Tata Steel’s revision application and directed that no coercive measures be taken while the matter remains under consideration.Read more

10 hours ago

SpaceX has announced plans to develop a USD 100 billion Starship launch complex in southern Louisiana, which will become the company’s fourth US launch site and its largest so far. The 125,000-acre site at Pecan Island in Vermilion Parish will support thousands of Starship launches each year, with construction planned to start in 2027 and the first launch targeted for 2029. The proposed facility will include methane production, power generation, deep-water shipping facilities and vehicle processing infrastructure. The project is expected to create more than 3,000 jobs while also drawing attention to environmental concerns around the protected wetland site.Read more

11 hours ago

Indian Railways has decided to transfer railway jurisdiction over the Mangaluru area, including Ullal, from the Palakkad division of Southern Railway to the Mysuru division of South Western Railway (SWR), effective 1 October 2026. The move, communicated through a Railway Board letter dated 21 August, has drawn strong opposition from political leaders in Kerala, who cite significant revenue loss to the Palakkad division. Railway authorities have clarified that the change is purely administrative and does not involve any transfer of territory from Kerala.Read more

11 hours ago

India is positioning itself as a major destination for data centre investments, with Commerce and Industry Minister Piyush Goyal highlighting opportunities for Japanese companies to participate in the sector. Goyal said India has received investment commitments of around USD 200 billion from major global hyperscalers. During his meeting with Japanese Minister of Economy, Trade and Industry Akazawa Ryosei, he identified trade, technology cooperation, investment and tourism as four key areas for stronger bilateral ties. He also pointed to opportunities in AI, semiconductors and related industries, while encouraging the Indian community in Japan to learn the Japanese language.Read more

Mumbai News Desk

12 hours ago

The Brihanmumbai Municipal Corporation (BMC) has not received final possession of a 735.99-sq-m recreation ground and its access road adjoining Rustomjee Crown in Prabhadevi, despite records indicating that the civic body was given advance possession nearly 19 years ago. The access route has also become a point of contention, with civic officials saying it has been incorporated into the residential complex’s internal driveway. The developer, however, maintains that the ground has already been handed over and that the access route remains available to the public.Read more

12 hours ago

The National Highways Authority of India (NHAI) has extended its digital FASTag Local Pass facility to five toll plazas in Karnataka, providing eligible local commuters with an easier way to access monthly toll passes. The expansion is part of a nationwide rollout covering 121 toll plazas and is aimed at reducing paperwork, eliminating repeated visits to toll booths and making toll payments more convenient for residents who frequently use nearby national highways.Read more

13 hours ago

Finance Minister Nirmala Sitharaman has invited Canadian investors to explore opportunities in India, describing the country as the fastest-growing major economy and highlighting its large market, sustained growth, young population, rising consumption and expanding capital markets. Speaking to members of the Indian business community in Toronto, she said India’s economic transformation was being supported by urbanisation, a growing middle class and digital infrastructure. Sitharaman also pointed to opportunities for Canadian banks, fintech firms and regulators to work with India on digital financial infrastructure, while highlighting the strengthening economic relationship between the two countries.Read more

13 hours ago

Northeast Frontier Railway (NFR) has reviewed the progress of the 110.625-km Jiribam-Imphal new railway line in Manipur, with focus on ongoing construction and preparations for a Commission of Railway Safety inspection planned for October. The project is one of the most challenging railway works in the Northeast because of its hilly terrain, extensive tunnels and bridges. The line includes 54 tunnels with a combined length of about 66.47 km and 131 bridges, including the 141-metre-high bridge at Noney. Two sections are already operational, while work on the remaining stretches is progressing in phases.Read more

14 hours ago

The Airports Economic Regulatory Authority (AERA) has reduced the User Development Fee (UDF) for passengers departing from Hyderabad airport, with the revised charges set at INR 515 for domestic passengers and INR 1,030 for international passengers from September 1. The rates will apply through March 2031 under the airport’s five-year tariff period. The regulator has also rationalised landing charges and approved a variable tariff plan aimed at supporting traffic and route expansion. AERA fixed the airport’s baseline Aggregate Revenue Requirement at INR 11,683.49 crore, substantially below the amount sought by the airport operator.Read more

14 hours ago

Adani Energy Solutions has secured a INR 47 billion (USD 492.6 million) transmission project in Maharashtra to strengthen the state’s renewable energy infrastructure. The project will transmit up to 4,500 MW of renewable and storage power and is scheduled to be completed within 36 months. It will add 562 circuit kilometres of transmission lines and 9,000 MVA of transformation capacity to the company’s portfolio. The network will carry renewable power generated in Karnataka to load centres in Maharashtra and support the pumped-storage ecosystem across Satara, Pune and the Mumbai Metropolitan Region.Read more

15 hours ago

The Federation of Indian Micro and Small and Medium Enterprises (FISME) has urged the Reserve Bank of India to reconsider its proposal to prevent NBFCs from offering revolving credit facilities. The industry body said a blanket restriction could affect legitimate working-capital financing used by MSMEs, which often operate with limited liquidity buffers and face delays in receiving payments. FISME acknowledged the RBI’s concerns over indefinite loan rollovers, hidden borrower stress and opaque lending, but said regulation should focus on the risks associated with a product rather than remove a financing option altogether. Stakeholders can submit feedback on the draft directions until August 28.Read more

27 Aug 2026

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has granted a four-month extension to eligible registered real estate projects, citing the impact of the prevailing situation in West Asia on the real estate sector. The extension covers both the validity of project registrations and the stipulated completion period. Projects whose original, revised or previously extended completion date falls between February 28 and October 31, 2026, will qualify. The decision follows an advisory issued by the Union Ministry of Housing and Urban Affairs, which recommended a blanket four-month extension for projects affected by extraordinary circumstances.Read more

27 Aug 2026

Infrastructure projects costing more than INR 150 crore each recorded a cumulative cost overrun of around INR 3,40,504 crore as of July 2026, according to a government report. The report monitored 1,775 ongoing projects across 17 Central ministries and departments, with their combined revised cost rising to INR 37.10 lakh crore from an original estimate of INR 33.70 lakh crore. Total expenditure on these projects stood at INR 19.26 lakh crore, or 51.91% of the revised cost. Transport and logistics remained the largest sector, accounting for 1,246 projects and 53% of the revised project cost.Read more

27 Aug 2026

The Enforcement Directorate has summoned Punjab Additional Chief Secretary (Revenue) and former chief secretary Anurag Verma for questioning in a money laundering investigation concerning alleged irregularities in change of land use approvals and layout modifications for real estate projects. Verma, who previously headed the Housing and Urban Development Department, has been asked to appear before the agency on August 31. The probe covers projects including Suntec City and Altus Space Builder and is examining the approval process, alleged use of forged consent letters and possible violations of real estate regulations.Read more

Mumbai News Desk

27 Aug 2026

The Brihanmumbai Municipal Corporation (BMC) has floated a INR 9.2 crore tender for Phase 2A of the Kala Ghoda precinct development in south Mumbai. The project will focus on upgrading roads, footpaths, drainage, landscaping and street lighting across additional stretches of the heritage district. The works are intended to build on the improvements undertaken during the first phase, with greater emphasis on pedestrian movement, public spaces and the visual character of the precinct. The next phase will also support the wider effort to make Kala Ghoda more pedestrian-friendly and suitable for regulated outdoor activities.Read more

27 Aug 2026

Studentbostader I Norden AB has signed a lease agreement covering 40 apartments in Ronneby, Sweden, with an annual rental value of SEK 3.5 million. The agreement has an initial term of three years, with an option to extend it for another three years. The deal adds to the company’s student housing operations in Ronneby, where it already manages accommodation across several residential areas. The company’s existing Ronneby portfolio includes apartments close to the city centre, public transport and local educational facilities, supporting demand for student accommodation in the town.Read more

Mumbai News Desk

27 Aug 2026

Notandas Realty has signed a redevelopment agreement for Mon Bijou in Bandra West, Mumbai, with an estimated investment of INR 100 crore. The project involves redevelopment of the existing residential property on a 788 sq m plot and is planned as a premium residential development with approximately 4,914 sq m of construction area. Located in the Carter Road-Perry Road neighbourhood, the project adds to the developer's portfolio of redevelopment projects in Mumbai's established western suburbs. The agreement reflects continued developer interest in unlocking redevelopment opportunities in land-constrained, high-value residential markets.Read more

27 Aug 2026

Mahindra Holidays & Resorts India Limited has received a GST show cause notice from the Dehradun GST authority demanding nearly INR 11.34 crore for alleged short payment of taxes across four financial years. The demand covers FY 2020-21 to FY 2023-24 and includes INR 11.33 crore in tax and INR 50,000 as penalty. The company said the notice relates mainly to alleged short payment of tax on services supplied in Uttarakhand and differences in reported turnover. Mahindra Holidays said it does not expect the matter to have a material financial impact and plans to pursue legal remedies.Read more

27 Aug 2026

Flipkart Minutes has overtaken Swiggy Instamart in the number of dark stores across India’s top 10 quick-commerce cities, with 627 stores compared with 615 for Swiggy, according to a CLSA report. The 10 cities have a combined 3,536 dark stores, led by Blinkit with 969 and Zepto with 828. Flipkart Minutes has also moved ahead of Swiggy in pincode coverage within these markets. Bengaluru remains the largest market in the sample, while Blinkit leads in six cities and Zepto in three. The figures highlight the growing competition to build dense delivery networks.Read more

27 Aug 2026

India’s economy has remained resilient despite continuing global challenges, supported by strong domestic demand and sustained activity across manufacturing and services, according to the latest Reserve Bank of India bulletin. The bulletin said the recovery in the southwest monsoon during July helped kharif sowing move closer to normal levels, reducing some risks to the agriculture sector. At the same time, the global outlook remains affected by geopolitical tensions in West Asia and new US tariffs. Financial conditions also remained supportive, with strong credit growth, comfortable liquidity and renewed foreign capital inflows.Read more

27 Aug 2026

The UK government has announced the first GBP 10 billion funding phase of its lower-cost housing programme, which is expected to support the construction of more than 70,000 new homes. More than GBP 7 billion of the initial funding will be allocated to London, while around 60% of the homes delivered through the programme will be offered at social rents. The funding forms part of a previously announced GBP 39 billion housing investment planned over 10 years. The programme will also give local councils and mayoral authorities a greater role in delivering housing and setting development priorities.Read more

27 Aug 2026

The Supreme Court has granted interim protection from arrest to a journalist who challenged an FIR registered against him in a road rage case, while directing the Uttar Pradesh Police to provide him a copy of the FIR. The case gained attention because it followed the journalist’s reporting on alleged irregularities involving donations linked to the Ram Temple. The court has agreed to examine his petition, and the matter will proceed through the judicial process while interim safeguards remain in place.Read more

27 Aug 2026

The Delhi Metro Rail Corporation (DMRC) has commenced construction of a new underground station at Shivaji Stadium as part of the Magenta Line extension between Janakpuri West and R K Ashram Marg. The station will be integrated with the existing Airport Express Line through a 230-metre underground subway and linked to Rajiv Chowk through an 800-metre subway with travellers. The 9.9-km Central Vista corridor will have nine underground stations and is expected to strengthen connectivity to key government, judicial, memorial and convention destinations in central New Delhi.Read more

27 Aug 2026

Chalet Hotels Ltd has opened Athiva Pulse, a 152-room hotel in Navi Mumbai, marking the second Athiva property developed in partnership with Marriott International’s Autograph Collection in India. The launch expands the Athiva brand within the premium lifestyle hospitality segment and adds a new property to Marriott’s upper-upscale and luxury independent hotel portfolio in the country. The opening comes as hospitality operators seek to cater to travellers looking for differentiated design, local character and personalised experiences while retaining the service standards associated with established international hotel groups.Read more

Mumbai News Desk

27 Aug 2026

A 17-year-old student was injured after an iron rod reportedly became dislodged from a demolition site during road-widening work in Vidyavihar East, Mumbai, on August 25. The student, identified as Deven Jain, was walking towards Vidyavihar railway station when the rod struck his head. He was taken to Rajawadi Hospital, where he received multiple stitches for the injury. The incident has raised concerns over safety arrangements around active demolition zones, including whether adequate barricading and protective measures were in place to shield pedestrians from construction-related hazards.Read more

27 Aug 2026

Nagpur's expanding infrastructure, improving connectivity and emergence of new growth corridors have strengthened its residential real estate market. Sandeep Dwellers Pvt. Ltd. (SDPL), which has operated in the city for more than three decades, has built a portfolio spanning apartments, row houses and plotted developments. The developer says it has delivered more than 50 lakh sq ft of projects and currently has over 15 developments under way. Its projects are spread across several residential corridors, including Chikhli Chowk, Lakadganj and Amravati Road.Read more

27 Aug 2026

The Centre is considering limits on the number of airport bundles a single bidder can win in the next round of privatisation, with the aim of preventing excessive concentration of airport assets among a few operators. The government is preparing to offer 11 airports grouped into five bundles, with the proposed structure expected to balance investor interest and competition. The move follows concerns that allowing one company to secure too many airports could increase concentration in the sector. Final rules on the bidding structure are expected to be settled before the privatisation process begins.Read more

27 Aug 2026

The Goa government plans to introduce the Indian Stamp (Goa Amendment) Bill, 2026, to support the ‘Mhajo Flat’ initiative and rationalise stamp duty on transactions linked to apartment redevelopment. The proposed changes seek to address cases where related agreements attract separate duties, increasing costs for housing societies and flat owners. The legislation is being pursued after the Governor returned an earlier ordinance because the state Assembly had already been convened. The move is expected to reduce transaction costs and make redevelopment of ageing housing societies more financially viable.Read more