A Cooke Town couple, who had entered into an agreement entered into an agreement of sale to buy a flat, were stranded after the apartment work never took off as the National Green Tribunal (NGT) revoked its environmental clearance. Though they were refunded Rs 51.4 lakh advance they had paid, they were denied interest. The Karnataka Real Estate Appellate Tribunal (KREAT) recently ordered the project promoter to pay interest on their refunded amount. Ayush Sinha and Jyothi Singh booked a flat in an apartment project in southeast Bengaluru and paid Rs 51.4 lakh as part of the sale consideration of Rs 1.6 crore. However, the project hit a roadblock when the NGT cancelled its environmental clearance on July 30, 2021. Left with no viable option, the couple sought a refund, which was processed on Oct 14, 2021. As they were not paid the principal amount, they later approached Karnataka Real Estate Regulatory Authority seeking interest for the period during which their funds remained blocked, arguing that they were deprived of using their money for other investment. 
 

To modernize property registration services, the sub-registrar office (SRO) in Adyar features access-controlled entry, air conditioning and modern amenities for better security and visitor comfort. More SROs across the city. will follow this year. With 588 sub-registrar offices handling an average of 15,000 daily visitors, the govt is focusing on upgrading technology. As a model initiative, the Adyar SRO, located in Thiruvanmiyur on L B Road, Kamaraj Nagar, was selected. Since its establishment in 1982, Adyar SRO has been a key hub for property registrations. In 2023-24, it processed 4,955 documents, have been registered, bringing in 190.57 crore. The new system controls entry. "Visitors must present a token and receive an access card before entering. Only 10 people can enter at a time. G Mohan, ex-president of the Chennai Southern Builders Association, welcomed the upgrade but highlighted persisting concerns. "Many offices still delay returning documents, citing staff shortage or technical issues. Getting Encumbrance Certificates (ECs) also is a challenge. 

As many as 14 more FIRs were registered against Ansal API at Sushant Golf City police station in Lucknow. Earlier, two cases were lodged at Gomtinagar and Hazratganj police stations. The company's directors are accused of cheating buyers for failing to deliver plots and villas, despite taking substantial payments. Several affected buyers accused Ansal Infra's directors of fraud and intimidation when they inquired about their undelivered properties. One of the biggest fraud claims comes from Anupam Agarwal, a resident of Emaar Gomti Greens, who paid Rs 2.32 crore in Sep 2022 for a 1,528 sq ft plot. He was assured immediate registration but found the land was already sold for Rs 3.33 crore to another buyer. He alleged the accused attempted to extort Rs 2 crore in black from him. Several buyers filed complaints against the Ansal Group, detailing significant financial losses. Some of them include: Retired Army Captain Kanhaiya Lal who lost Rs 12.81 lakh, Rakesh Chandra Srivastava of Gomtinagar Extension who lost Rs 3.5 lakh, Pushplata Bajpai of Aliganj who lost Rs 13.21 lakh, Veena Chandani of Aashiana who lost Rs 16.63 lakh, Arun Kumar of Azamgarh who lost Rs 17.50 lakh, Birendra Kumar Giri of Lucknow who lost Rs 30 lakh, Prashant Kumar who lost Rs 24 lakh, Umashankar Mishra who lost Rs 30.74 lakh, Sadia Bano who lost Rs  23.02 lakh, Naveen Kumar Singh who lost Rs Chandra of Omaxe City faced non-registration of three plots. All have accused the API owners and promoters of fraud. Investors accused Ansal Properties & Infrastructure directors, including Pranav Ansal, Sushil Ansal, Rajeshwar Rao, Vikas Singh, Vinay Tiwari, Prashant, and Manoj Kapoor, of orchestrating one of the largest real estate frauds in UP's history.
 

GMC has taken steps pertaining to property tax and vending fee besides a new parking system linked to mobile apps. On average, there will be an annual increase of Rs 4,000 to Rs 5,000 in the house tax rate. In  an 11-hour marathon meeting of the GMC board on Friday, many important proposals were passed, including the revised budget of Rs 502 crore for FY 2024-25, making property tax compatible with the DM circle rate (the minimum price at which a property can be sold or n be sold or transferred) and fixing the vending fee. A total of 55 proposals were tabled, out of which 48 were passed. GMC will also draw a yellow line at spots decided for the weekly market and vendors will not be allowed to operate beyond that line. For road widths of 24m and more, tax will  be changed at the rate of rs 3.20 sqft and likewise, tax will be computed. The Integrated Parking Management System (IPMS) proposal was also passed by the board. The IPMS — under which an integrated control room will be set up — will be linked to mobile apps through which residents can get an update on the occupancy of parking in a parking lot. There will also be options for daily and monthly payment. The rates as of as of now vary from Rs 10 to Rs 50 for all kinds of vehicles. The revised budget of Rs 502 crore for FY 2024-25 was also passed, but that created pandemonium in the house as councillors opposed it, citing the current financial year is ending in a few days and also the budget has not been approved by the executive committee. 
 

Blackstone Inc., an alternative asset manager, in collaboration with Bengaluru-based Sattva Group have filed the draft red herring prospectus (DRHP) for their Real Estate Investment Trust (REIT)-Knowledge Realty Trust (KRT). The proposed Rs 7,000 crore issuance is expected to become the largest REIT offering in India by net operating income (NOI) and gross asset value (GAV). The REIT's portfolio is expected to comprise approximately 48-50 million sq ft of commercial office space in Mumbai, Bengaluru,Hyderabad, and Pune. Blackstone will hold a 55% equity stake in the REIT, with Sattva Group retaining the remaining 45%. The IPO aims to raise Rs 6,200 crore, with a portion of the proceeds allocated to repaying existing debt and funding future acquisitions. The REIT's projected net operating income (NOI) for FY26 is expected to be Rs 2,652 crore, rising to Rs 2,946 crore by FY27. The remaining Rs 800 crore from the total issue size will be utilized for general corporate purposes and issue-related expenses, including underwriting fees, listing fees, regulatory cost (GCCs). The IPO is being managed by Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, ICICI Securities, IIFL Capital, JM Financial, Morgan Stanley India, and SBI Capital Markets. The Knowledge Realty Trust is sponsored by BREP Asia SG L&T Holding (NQ)(Blackstone Sponsor) and Sattva Developers. The issue will constitute at least a minimum percentage of the total outstanding units on a post-issue basis, ensuring broad market participation.
 

The bank accounts of Ansal API have been frozen by the receiver appointed by the National Company Law Tribunal (NCLT) as part of the ongoing insolvency proceedings. The restriction, imposed on Wednesday, prevents company officials from withdrawing funds. New account operators will now be appointed to manage financial transactions. This development marks a crucial step in the insolvency process of Ansal API, with further actions expected in the coming weeks. The receiver's team is also compiling records of home and plot bookings. To streamline the claims process for allottees, a toll-free helpline will soon be launched, and a dedicated online portal has been set up on the NCLT website for claim submissions. On Tuesday, NCLT-appointed receiver Navneet Gupta arrived in Lucknow and, under police security, inspected the Ansal office in Sushant Golf City. During his visit, he reviewed financial records and requested key documents related to the company's operations. A dedicated toll-free number will also be issued soon, allowing allottees to register queries and complaints regarding the Ansal dispute. Meanwhile, Lucknow Development Authority (LDA) officials are actively collecting and scrutinising land deal records of Ansal Properties & Infrastructure Limited. The other accused in the case include Sunil Kumar Gupta, Fernandez Patricia Atkinson, and Director Vinay Kumar Singh. The FIR was registered under sections 316(5), 318(4), 61(2), 352, 351(2), 338, 336(3), 340(2), 111 of the Bhartiya Nyay Sanhita (BNS) and Section 3 of the Prevention of Damage to Public Property Act, 1984. A senior LDA official said, "We are scrutinising every document related to the Ansal land deal since 2005. We aim to present our case with no loopholes when appearing before the tribunal."
 

The Supreme Court was on Tuesday critical of the functioning of the Real Estate unctioning of the Real Estate Regulatory Authority (RERA) and termed it as "disappointing". A bench of Justices Surya Kant and N Kotiswar Singh,which was hearing a plea related to private builders, was told by senior advocate K Parameshwar that the RERA Act has actually failed in its implementation. Parameshwar, who was appearing in the matter related to Mahira Homes Welfare Association, said if the project fails, it affects various stakeholders and sought the court's intervention in strengthening the regulatory mechanism for the real estate sector. Justice Kant agreed with Parmeshwar's submissions and said the functioning of the regulatory authority under the RERA was disappointing but said the state may oppose new regulatory measures. 
The Real Estate (Regulation and Development) Act, 2016, was enacted by Parliament to regulate the real estate sector and protect home buyers' money invested in housing projects.
 

With less than a month left to meet its poperty tax collection target, Trichy Corporation is cracking down on top defaulters, mostly commercial properties that have failed to pay dues for over three years. While 77% of the total property tax demand of Rs137.3 crore has been collected, arrears recovery remains sluggish, with only 38% of the Rs51.6 crore pending tax recovered as of March 2. Corporation commissioner V Saravanan said commercial properties with long-overdue taxes are being repeatedly warned. For those defaulting for over three years, the civic body is disconnecting underground drainage (UGD) connections. In one such case, officials severed the UGD link of a commercial property on Vaanapattarai Street in Ward 14 over unpaid dues of Rs19.6 lakh. The owner must clear the arrears and bear the reconnection cost to restore the service. The crackdown has pushed overall property tax collection to 66% as of March 2. In the past month, arrears collection increased by Rs3 crore, rising from Rs16.6 crore on Jan 30 to Rs19.5 crore. For the financial year 2024-25, the total tax revenue, including property tax, vacant land tax, water charges, UGD charges, and professional tax, has surpassed 50%. However, non-tax revenue from corporation-owned property rentals and water charges remains low, prompting further action in these sectors.
 

Delhi Development Authority (DDA) has reported its highest-ever collection from housing sales over the past decade, with Rs 5,185 crore generated from selling over 15,000 flats between April 2023 and Feb 27, 2025. This surpasses the Rs 4,462 crore raised over eight years (April 2015 to March 2023), according to DDA officials. In the financial year 2024-25, DDA sold 7,184 flats, the majority under the first-come, first-served scheme, which offered discounted rates for construction workers, women, and people from SC/ST categories. Narela alone accounted for 2,700 flat sales in this period. This surge in flat sales has boosted DDA's financial stability, as the revenue is credited to its general development account (GDA). "The increased cash flow has strengthened DDA's ability to fund new development projects and enhance urban infrastructure. For FY 2024-25, DDA has collected Rs 2,786 crore from flat sales, already surpassing last year's total of Rs 2,416 crore by Rs 370 crore. The financial position of the DDA improved since May 2022 after VK Saxena took over as lieutenant governor and chairperson of the authority. He stressed on innovative marketing strategies, which included offering discounts and schemes to needy people, accelerating the sales of flats," stated the authority. In 2024, DDA launched penthouses through e-auction and introduced new schemes, such as the Shramik Awaas Yojana and Sabka Ghar Awaas Yojana, offering discounted homes to a variety of groups. Meanwhile, taking note of issues raised by locals in Narela regarding lacking infra services, the LG held interactions with various departments and took steps to fulfil gaps. DDA has been working on improving infrastructure in Narela, including expanding metro connectivity and DTC bus routes, alongside plans for a university, education hub, and international sports stadium. Delhi govt is expected to take a decision to increase DTC routes soon. 
 

The Municipal Corporation of Delhi (MCD) has dismissed reports suggesting an exemption from paying property tax, saying all property owners and occupiers are required to do it as per existing laws. In an official statement issued on Friday, the civic body urged residents salaries and contractor dues, the MCD emphasised that property tax remains a critical revenue source, contributing nearly one-fourth of its total earnings. Property tax remains payable by all occupiers and owners, and no exemption or relaxation has been granted," it said in the statement. The clarification follows multiple inquiries regarding potential waivers. The MCD reiterated that tax structures for the financial year 2024-25 were finalized in February last year, while levies for for 2025-26 were determined in a meeting on February 13, 2025. With outstanding dues exceeding Rs 14,000 crore, the civic body stressed the importance of financial stability for maintaining essential civic services such as sanitation, road maintenance, and drainage systems. The MCD has urged all property owners and occupiers to file their property tax returns on a self-assessment basis and complete their payments by March 31, 2025 to avoid penalties. However, BJP leaders challenged the mayor's claim arguing that the proposals had not been passed through the proper legal process. "The official procedure to pass a resolution was not followed. The mayor's claim is baseless," BJP Leader of Opposition Raja Iqbal Singh. Later in the evening, Singh wrote to MCD Commissioner Ashwani Kumar, urging him to declare the day's  proceedings "invalid and abandoned."
 

Tamil Nadu Chief Minister M K Stalin on Thursday inaugurated 1,046 flats constructed by the Tamil Nadu Housing Board (TNHB) for Rs 659.96 crore in Chennai, Chengalpattu, and Tiruchirappalli. In addition, he inaugurated 464 quarters for government officials built at a cost of Rs 116.55 crore, remotely from the Secretariat here. Housing and Urban Development Minister S Muthusamy, Chief Secretary N Muruganandam, and other officials participated. Also, the CM extended the state Hindu Religious and  Charitable Endowments (HR&CE) department's financial grant to the Devasthanams in Kanyakumari, Pudukkottai, and Thanjavur for the upkeep of the shrines under their control. upkeep of the shrines under their control. Accordingly, cheques for a total sum of Rs 27 crore were handed over to the temple management, in the presence of state HR&CE Minister P K Sekar Babu. The gesture would benefit 490 temples in Kanyakumari district, 225 temples under the Pudukkottai Devasthanam Board, and 88 temples managed by the Thanjavur Devasthanam Board. 
 

Baashyaam Constructions is honoured to wear the yellow jersey as a prestigious Associate Sponsor for the Chennai Super Kings. This exciting collaboration underscores the shared values and vision of two iconic brands in their respective fields of real estate and cricket, both of which have earned a place in the hearts of Chennaites. A renowned name in the real estate sector, Baashyaam Constructions is known for its innovative approach, cutting-edge design, and exceptional architectural expertise. The brand has consistently delivered high-quality homes, reimagining and enhancing the skyline of Namma Chennai. From modern residential projects to state-of-the-art buildings, Baashyaam has set new benchmarks in the construction industry, earning a reputation for its quality offerings. This collaboration between Baashyaam and Chennai Super Kings is a perfect match. Both brands represent leadership, success, and a deep connection to the city of Chennai. The Chennai Super Kings, with their unmatched legacy, have become an embodiment of resilience and passion for the sport. Baashyaam, likewise, symbolises growth and commitment to building a better future for the city. Together, they form a partnership that celebrates the love for cricket and the spirit of innovation. Baashyaam Constructions is proud to be a part of this journey, standing alongside millions of loyal CSK fans around the world. With every match, the brand joins the CSK faithful in showing their unwavering support—cheering for the team and celebrating every victory with unmatched enthusiasm.