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Representative image MADURAI: The Madurai Corporation has announced a 6% property tax hike, effective from Oct 1, for the second half of the financial year. Opposition councillors criticized the decision, arguing that it was implemented without adequate notice, further burdening taxpayers just a year after the previous hike. According to corporation officials, ₹230 crore was …

Madurai Corporation Imposes Controversial 6% Property Tax Increase, – Homevior Read More »

Representative image BEIJING: China’s new home prices fell at the fastest pace since May 2015 in September, official data showed on Friday, despite increased efforts to revive the struggling property sector. In annual terms, new home prices were down 5.8% from a year earlier, deeper than a 5.3% slide in August, according to Reuters calculations …

China’s new home prices drop 5.8% in September 2024, , – Homevior Read More »

Representative image HYDERABAD: Despite receiving excess rainfall this monsoon season, Hyderabad’s IT corridor is faced with a severe groundwater crisis, with average water levels plummeting to 15 metres to 25 metres — a huge drop compared to previous year’s average of 11 metres. According to groundwater department data, areas such as Kukatpally, Serilingampally, Ramachandrapuram, and …

Hyderabad’s IT Corridor Faces Groundwater Crisis Despite Excess Monsoon Rains, – Homevior Read More »

Representative image GURUGRAM: The Central Building Research Institute (CBRI) has deemed Tower A of Chintels Paradiso unfit for living, marking the eighth tower in the nine-building complex to be declared unsafe. The recent audit revealed significant structural deterioration in Tower A, primarily because of severe corrosion caused by high chloride content and poor-quality concrete — …

8th Paradiso Tower Declared Unfit for 60 Families, – Homevior Read More »

Representative image LUCKNOW: The Directorate of Enforcement (ED), Lucknow zonal office, on Thursday arrested Ghaziabad-based realtor Rajeev Tyagi in a Rs 28 crore bank loan fraud case. He was produced before the special judge, CBI court-1 (Special Court, PMLA), Ghaziabad, which sent him in ED custody till Oct 24. The ED initiated the probe against …

Realtor Rajeev Tyagi Arrested in Rs 28 Crore Loan Fraud Scheme, – Homevior Read More »

Representative image MUMBAI: The Supreme Court recently dismissed a Special Leave Petition filed by families residing in 41 illegal buildings in Agrawal Nagari, Nalasopara, allowing the Vasai Virar Municipal Corporation (VVMC) to proceed with the demolition of the structures. The occupants, who were given a 24-hour notice by the VVMC on July 2, had sought …

Supreme Court Upholds Demolition of 41 Illegal Buildings in Agrawal Nagari, Nalasopara, – Homevior Read More »

Representative image MUMBAI: In a significant judgment, the income tax appellate tribunal (ITAT), Mumbai bench, ruled in favour of N Aggarwal, a taxpayer, granting him full tax benefit for investment made in two adjoining flats, which were treated as a single unit. Aggarwal had claimed a tax deduction of several crores under Section 54-F of …

ITAT Grants Tax Benefit for Merged Flats Amid Controversy, – Homevior Read More »

Representative image PUNE: Property transactions are set to become easy in Pimpri Chinchwad with the civic administration completing the process to integrate data of the property tax department with the computerised system of the Inspector General of Registration (IGR) office. An official of the Pimpri Chinchwad Municipal Corporation (PCMC) said the residents would not require …

Tax Data Integrated with State Records, – Homevior Read More »

Representative image Chinese residential property developer DaFa Properties Group and its unit have been ordered to wind up by Hong Kong’s high court, an exchange filing showed on Wednesday. In February, the company received a winding-up petition from China Construction Bank (Asia) related to outstanding 12.375% senior notes due in 2022, totaling $360 million. The …

Hong Kong HC orders China’s DaFa Properties to wind up, , – Homevior Read More »

Representative image Embattled property developer Sunac China said on Thursday it is seeking to raise HK$1.21 billion ($155.70 million) to repay its existing corporate debt, at a time when China is dealing with a downturn in the property market. Sunac will place around 489 million shares, representing 5.60% of its existing share capital, at HK$2.465 …

Sunac China to raise $156 million in a bid to repay corporate debt, – Homevior Read More »