Latest news with #067
Express Tribune
15-06-2025
- Business
- Express Tribune
LHC voids DC rate hike for Kottha Kalan
Justice Rasal Hassan Syed of the Rawalpindi Bench of the Lahore High Court (LHC) has declared null and void the decision by the District Collector (Deputy Commissioner) of Rawalpindi to drastically increase the official DC (Deputy Commissioner) property valuation rates for the historic British-era neighbourhoods of Kottha Kalan I and Kottha Kalan II, effective from July 1, 2024. In his verdict, Justice Syed ordered the DC to give a proper hearing to senior bar member Advocate Asif Chaudhry, the petitioner, and to reassess the DC rate for the said area on merit within one month. The petitioner has also been directed to appear before the DC and present his arguments. Advocate Asif Chaudhry contended in court that Kottha Kalan I and II fall within the municipal limits of Rawalpindi. Until June 30, 2024, the official DC rate for residential properties in Mouza Kottha Kalan ranged from Rs225,000 to Rs372,000. However, this rate was arbitrarily increased by 300% to Rs2,067,000 for residential properties, and Rs4,286,300 for commercial propertiesreportedly the highest rate across all Mouzas in Rawalpindi. The petitioner argued that, according to regulations, the District Collector is authorised to increase property rates by a maximum of 10% annually at the start of each new fiscal year. However, for the first time in Rawalpindi's history, the rate was hiked by an unjustified 300%, leading to a complete halt in property transactions — both domestic and commercial — in the affected areas. Advocate Chaudhry requested the court to annul the excessive increase and direct the District Collector to revise the rate within legal limits, not exceeding 10%. The court upheld this stance, revoked the existing order of the District Collector, and instructed that a fresh, merit-based decision be made within one month in accordance with the rules. The court also directed the petitioner to formally appear before the District Collector to present his constitutional and legal arguments. As the new fiscal year beginning July 1, 2025, approaches, the District Collector is also tasked with determining the official property valuation rates for the 2025-2026 financial year.
New Straits Times
14-06-2025
- New Straits Times
Retired teacher loses over RM200,000 in phone scam
KUANTAN: A retired teacher lost RM216,067 after falling victim to a phone scam syndicate involving individuals posing as insurance agents and police officers. Pahang police chief Datuk Seri Yahaya Othman said the 61-year-old woman received a call from someone claiming that a false insurance claim amounting to RM68,000 had been made under her name. He said the call was then transferred to another individual who introduced himself as a police officer from the Ampang Jaya district police headquarters, alleging that the woman was involved in fraudulent claims and money laundering activities. "The victim was then instructed to open several bank accounts and transfer all her savings, pension gratuity and bank loans into specific accounts, supposedly for investigation purposes," he said in a statement today. Yahaya said the victim made 24 fund transfers to six different accounts between Feb 20 and May 5. He advised the public not to panic when receiving suspicious calls and never to reveal banking information to unknown parties.
Time of India
14-05-2025
- Business
- Time of India
Rs18,585Cr Mobility Masterplan Set To Zoom City Into Future
1 2 Nagpur: Imagine a Nagpur where your daily commute is smoother, faster, and greener. That's the vision behind the city's ambitious Rs18,585.5 crore Comprehensive Mobility Plan (CMP), designed to revolutionise urban travel over the next several years. Drafted by MahaMetro in partnership with Rail India Technical and Economic Service (RITES), this multi-phased blueprint is nearing final review and promises a complete overhaul of Nagpur's transport landscape — from footpaths and flyovers to electric buses and mass rapid transit ambitious CMP breaks down its budget into three implementation phases. Phase 1, the most expansive, will require Rs14,067 crore. Phase 2 will follow with Rs3,637.8 crore, and Phase 3 will round off the execution with Rs880.7 crore. The core focus areas for this extensive development include Non-Motorised Transport (NMT) facility improvements, mobility management measures, public transport enhancement, freight infrastructure development, and road improvement projects.A closer look at the project reveals that the lion's share of funding is reserved for creating High Capacity Mass Rapid Transit Corridors (MRTCs). The 36.5 km long stretches of high capacity corridors are planned at a cost of Rs9,125 crore, making it the single largest investment item in the proposal. Following this is the Medium Capacity MRTC, spanning 40.5 km with a budget of Rs4,455 crore. Interestingly, electric buses stand as the third-largest expenditure, with an allocation of Rs3,493 crore, underlining a serious push towards clean, sustainable public transport. The plan also includes city forecasting till from the MRT systems and electric fleet, the plan includes a range of other major infrastructure developments. These include road widening, flyovers, underpasses, Road Over Bridges (ROBs), and upgraded bus terminals. A strong emphasis has also been placed on improving pedestrian infrastructure. About 156km of footpaths have been proposed in Phase 1 alone, with a standard minimum width of 1.8 meters and a curb height of 150 mm for pedestrian comfort and mobility also plays a key role in the CMP. An Intelligent Traffic Management System (ITMS) is proposed at 175 strategic locations across the city, backed by a budget of Rs175 crore. To tackle the city's growing parking woes, the plan proposes four new off-street parking facilities with over 1,400 Equivalent Car Spaces (ECS) and 27 on-street parking zones covering groundwork for the plan is already set through comprehensive surveys. A 650 km road network survey, speed and delay assessments, and vehicle counts at fuel stations were carried out. In addition, three bus terminals and four railway terminals were studied to assess multimodal the blueprint is elaborate and forward-looking, it is still under review. A second round of stakeholder discussions was recently held at the divisional commissionerate. Officials confirm that a final review meeting is expected soon, after which the proposal will be sent to the state govt for approved and executed as envisioned, this CMP has the potential to completely reshape how Nagpur commutes, making it one of the most modern, connected, and commuter-friendly cities in India.
Qatar Tribune
08-05-2025
- Business
- Qatar Tribune
Real estate trading volume exceeds QR1 bn in a week
DOHA: The volume of real estate trading in sales contracts registered with the Real Estate Registration Department at the Ministry of Justice from April 27 to May 1 amounted to QR1,004,647,349, while the total sales contracts for the real estate bulletin for residential units during the same period amounted to QR68,035,067. The weekly bulletin issued by the department shows that the list of properties traded for sale included vacant lands, residential homes, apartment buildings, commercial buildings, shops and residential units. The sales operations were concentrated in the municipalities of Doha, Al Wakrah, Umm Salal, Al Rayyan, Al Dhaayen, Al Khor and Al Dhakira, and Al Shamal, in addition to the areas of the Pearl, Lusail 69, Ghar Thuaileb, Umm Al Amad, and Umm Ebairiya.
Khaleej Times
26-03-2025
- Business
- Khaleej Times
UAE: Ras Al Khaimah real estate transactions surge 25,000% in 7 years
The real estate market in Ras Al Khaimah has grown significantly, with transaction volumes increasing by nearly 250 times or 25,000 per cent over the past seven years, according to the latest data from the Ras Al Khaimah Statistics Centre. The total value of real estate transactions in June 2024 reached Dh2,535,067,291, up from Dh10,113,300 in June 2017. Similarly, mortgage values rose to Dh3,475,928,534 in July 2024, compared to Dh15,836,398 in July 2017, an increase of approximately 21,849 per cent. This reflects growing investor confidence and the emirate's position as a real estate hub. The transaction increase comes as Ras Al Khaimah continues to attract investment through strategic initiatives, including the expansion of Ras Al Khaimah International Airport, significant hospitality and entertainment projects, and a growing focus on sustainable urban development. Christopher Cina, Director of Sales at Betterhomes, told Khaleej Times the surge in transactions is linked to increased development, improved connectivity, and growing demand for beachfront properties. 'The integrated gaming resort is expected to bring 4 million tourists a year to Ras Al Khaimah. Naturally, people prefer beachfront property as well,' he said. He also pointed to the rising number of completed projects and growing market confidence. 'Mortgage activity shows that lenders are taking the market seriously, and more importantly, it indicates that many developments are now complete. The numbers have gone up, and market sentiment has improved because, while there was limited development five years ago, today, there is a significant amount.' Andrei Charapenak, CEO of Major Developers, commented on the market growth: 'Ras Al Khaimah is no longer an emerging player it has established itself as an investment destination. The increase in real estate transactions and mortgage values reflects the emirate's economic development, driven by leadership, infrastructure projects, and demand for residential and commercial spaces.' He added: 'We are seeing a shift in investor sentiment, with luxury, sustainability, and lifestyle integration playing a major role in purchasing decisions. The real estate sector in Ras Al Khaimah is evolving to meet global standards, and new developments are catering to both local and international buyers.'
