The Enforcement Directorate has provisionally attached immovable properties worth Rs 207 crore from Madurai-based Neomax Properties Pvt Ltd and group firms across Tamil Nadu. This follows investor complaints of fraud, where high returns of 12-30% on plot projects were promised but not delivered, with funds diverted to shell entities amid manipulated accounts.
Chennai's housing market surged 24% QoQ with 5,660 units sold in Q2 2025, defying a 20% national sales decline. Strong infrastructure growth, mid-segment dominance, and RERA compliance drive resilience as other metros face correction pressures amid geopolitical tensions.
Bhubaneswar Municipal Corporation launches drive urging property owners and developers to transfer internal roads to civic body for better infrastructure management and urban development.