Category: Commercial

Stay updated with the latest developments in commercial real estate. Our coverage includes market trends, leasing activity, office space demand, retail property updates, and major commercial deals. Whether you’re an investor, developer, or tenant, get expert insights and news on the evolving commercial property landscape.

CommercialLatest Stories

Bombay HC Orders MMRDA to Refund ₹646 Crore to Reliance

MUMBAI: The Bombay High Court has ordered the Mumbai Metropolitan Region Development Authority (MMRDA) to refund ₹646 crore imposed on Reliance Industries Limited (RIL) as a penalty for an alleged seven-year delay in completing a convention and exhibition centre and commercial complex in Bandra Kurla Complex (BKC). The court invalidated two penalty demand notices from MMRDA—one from 2017 for ₹646 crore and another from 2019 for ₹1,116 crore, with the latter being stayed by the court in 2020. The High Court criticized MMRDA for collecting ₹646 crore from RIL in February 2019 in a manner deemed “arbitrary, high-handed, unfair, and…

CommercialLatest Stories

TCS Secures 20-Acre Site in Kolkata’s New Town on 99-Year Lease

MUMBAI: Tata Consultancy Services (TCS) has acquired a 20-acre land parcel in the Bengal Silicon Valley Tech Hub at New Town, Kolkata, for Rs 94 crore through a long-term lease spanning over 99 years. The West Bengal Housing Infrastructure Development Corporation (WBHIDCO), the government agency overseeing the development of New Town as a tech and urban hub, has allocated this land to TCS. The plot allocation took place on March 22, 2023, and the transaction agreement was signed on January 9, 2026, according to documents obtained from Propstack, a realty data analytics firm. This land has been leased to TCS…

CommercialLatest Stories

Ranchi Civic Body Takes Aim at Illegal Businesses in Homes

RANCHI: The Ranchi Municipal Corporation (RMC) has launched a city-wide initiative to address the illegal operation of commercial establishments within residential properties in Jharkhand State Housing Board (JSHB) colonies. This includes door-to-door surveys and the cancellation of trade licenses, following directives related to Supreme Court land use regulations. Eight enforcement teams have been assigned to inspect areas such as Harmu, Bariatu, and Argora, where significant illegal commercial activities have been reported, despite land allotment norms favoring residential use. Officials confirmed that this enforcement drive commenced this week and will be executed in phases. Deputy Municipal Commissioner Gautam Prasad Sahu stated,…

CommercialLatest Stories

Embassy REIT Greenlights ₹1,100 Crore Commercial Paper Plan

Representative AI image NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has authorized the issuance of commercial papers amounting to ₹1,100 crore in two tranches aimed at refinancing existing debts and fulfilling working capital needs, as revealed in a regulatory filing. The Debenture Committee of Embassy Office Parks Management Services, the manager of Embassy REIT, gave the green light to the issuance on April 7, 2026. The fundraising will occur in two parts: ₹650 crore with a duration of 347 days and ₹450 crore with a duration of 342 days. This issuance is a component of the REIT’s previously sanctioned…

CommercialLatest Stories

Indore Gives 100 Buildings 48-Hour Fire Safety Ultimatum

INDIORE: The Indore Municipal Corporation (IMC) and district administration are stepping up their efforts against fire safety violations, placing around 100 commercial buildings (G+3) under scrutiny. Officials have issued an urgent warning, giving building owners until April 8 to install mandatory fire safety equipment or risk immediate sealing and further legal actions. This initiative follows an extensive survey conducted by building officers and inspectors in high-traffic areas throughout all zones. Out of 337 inspected buildings, the survey uncovered significant deficiencies: 87 buildings lacked any fire safety equipment, while 19 had installed systems that were non-functional. A total of 67 notices…

CommercialLatest Stories

Aristo Pharma Acquires ₹111 Crore Office in Andheri West

Mumbai: Aristo Pharmaceuticals has acquired office space spanning two floors in a commercial tower located in Andheri West, a western suburb of Mumbai, for over Rs 111.26 crore, marking one of the significant office transactions this year. The pharmaceutical company purchased units on the first and second floors of Parinee I from Parinee Realty and an individual seller. The deal was officially registered on March 27. The total carpet area acquired exceeds 18,300 sq ft, while the usable area, including loft space, is approximately 28,300 sq ft, according to property registration documents accessed via Propstack. This acquisition represents a carpet…

CommercialLatest Stories

GCC Leasing Reaches Record 9.1M Sq Ft in Q1 2026

NEW DELHI: India’s office market achieved its best first quarter ever, with gross leasing reaching approximately 20.7 million sq ft in Q1 2026, a 5% increase year-on-year. This growth was primarily fueled by unprecedented demand from Global Capability Centres (GCCs), as reported by CBRE. During this quarter, GCCs occupied 9.1 million sq ft, representing 44% of the total office leasing. Bengaluru and Hyderabad emerged as leading GCC hubs, contributing 48% and 19% of the demand, respectively, while Delhi-NCR accounted for 14%. Bengaluru continued to lead in office leasing with a 29% share, followed by Delhi-NCR at 22% and Mumbai at…

CommercialLatest Stories

Chandigarh Considers Higher FAR for Commercial Properties

CHANDIGARH: The Chandigarh administration is contemplating an increase in the permissible floor area ratio (FAR) for commercial properties outside the ‘heritage sectors’. The administration has expressed plans to raise the FAR in Industrial Area Phase I and II from the current 0.75 and 1.0 to 2.0. “The decision regarding the FAR increase is currently with the top leadership of the administration. The proposal aims to double the FAR for commercial properties in the Industrial Area and areas beyond the heritage sectors,” sources report. Alongside the FAR increase, adjustments to the coverage area and allowable building heights are also under review.…

CommercialLatest Stories

Small Cities Like Mangalore, Bhopal Join GCC Race

India’s Global Capability Centres (GCCs) are branching out from their traditional hubs as tier-II cities like Mangalore, Bhopal, and Aurangabad emerge as innovative tech centers, driven by factors such as cost, talent, and supportive policies. While GCCs have increasingly established themselves in smaller cities like Coimbatore, Indore, and Lucknow, many states are actively promoting policies and investing in infrastructure to attract these centers. According to Sachin Alug, CEO of NLB Services, tier-II cities account for 30-32% of all new job postings. “The demand for tech and GCC roles in cities like Mangalore, Ahmedabad, and Nagpur is noticeably increasing, fueled by…

CommercialLatest Stories

BHIVE Workspace Leases 1.4 Lakh Sq Ft at Phoenix Asia Towers

NEW DELHI: BHIVE Workspace has secured a lease for 1.4 lakh sq ft of office space at Phoenix Asia Towers, located in Hebbal, North Bengaluru. The company has plans to introduce another one million sq. ft. of office space by 2026, accompanied by an overall investment of around ₹250–300 crore. “We are vigorously expanding our campus footprint, with nearly 1 million sq. ft. of new capacity to be added in 2026,” stated Shesh Rao Paplikar, the founder and CEO of the company. The new center will accommodate over 2,600 professionals and will feature a variety of options including co-working spaces,…