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. 
 

A private equity firm, in collaboration with a Bengaluru-based real estate developer, has filed the draft red herring prospectus (DRHP) for their Real Estate Investment Trust (REIT).

The proposed ?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 projected to comprise approximately 48–50 million sq ft of commercial office space across Mumbai, Bengaluru, Hyderabad, and Pune. The private equity firm will hold a 55% equity stake in the REIT, with the developer retaining the remaining 45%.

The IPO aims to raise ?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 ?2,652 crore, rising to ?2,946 crore by FY27. The remaining ?800 crore from the total issue size will be utilized for general corporate purposes and issue-related expenses, including underwriting fees, listing fees, and regulatory costs.

The IPO is being managed by multiple investment banks and financial institutions. The REIT is sponsored jointly by the private equity firm and the real estate developer. 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. 
 

A construction company has been named as a prestigious Associate Sponsor for the Chennai Super Kings. This collaboration highlights the shared values and vision of two iconic entities in their respective fields of real estate and cricket, both of which hold a special place in the hearts of Chennaites.

Known for its innovative approach, cutting-edge design, and architectural expertise, the construction company has consistently delivered high-quality homes and projects, shaping and enhancing the skyline of Chennai. From modern residential developments to state-of-the-art buildings, it has set new benchmarks in the construction industry, earning a strong reputation for quality offerings.

This partnership with Chennai Super Kings is seen as a natural fit, as both represent leadership, success, and a deep connection to the city. The Chennai Super Kings, with their unmatched legacy, embody resilience and passion for cricket, while the construction company symbolizes growth and commitment to building a better future for the city.

Together, the collaboration celebrates the love for cricket and the spirit of innovation. The construction company stands alongside millions of Chennai Super Kings fans worldwide, showing support for the team and celebrating every victory with enthusiasm.

CM Devendra Fadnavis on Tuesday announced waiver of 8.5% interest paid on premium for self-redevelopment projects. This will be applicable to all such projects whose proposals are received up to March 2026. The govt has allowed the payment of premium in instalments, for which the BMC charges an interest of 8.5%. Fadnavis, who was in Kandivli to inaugurate a residential building redeveloped by the residents through the self-redevelopment route, was apprised of the issue.  The premium is to be paid first while the construction begins only 2-3 years later. I was informed that residents have to bear the burden of bank interest as well as the premium interest. To ease the burden, the premium will be waived for three years only for self-redevelopment projects. This is to ensure the scheme is not misused, and the building is expected to be ready in five years. The CM said so far 1,500 proposals were received for self-redevelopment. However, Mhada received only 45 proposals, of which 42 were cleared. "I am not happy with the pace of approvals. The scheme is shutting down shops of brokers. I am warning that no one should obstruct self-redevelopment projects else they will lose their jobs. Fadnavis said the scheme would be brought under the ambit of Right to Services Act, adding that the endeavour would be to ensure zero human interface. Mumbai: CM Devendra Fadnavis on Tuesday announced waiver of 8.5% interest paid on premium for self-redevelopment projects. This will be applicable to all such projects whose proposals are received up to March 2026.