Category: Industry

Explore updates on Industry real estate focusing on warehouses, logistics parks, and manufacturing hubs. Learn about infrastructure development, market demand, rental yields, and investment opportunities shaping this fast-growing segment.

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Prime Securities Group unveils ₹1,000 crore real estate AIF

Representative AI image NEW DELHI: Prime Litmus Investment Management, a subsidiary of Prime Securities, has unveiled the Prime Litmus Real Estate Opportunities Fund. This Category II Alternative Investment Fund aims to provide structured credit investments for under-construction real estate projects. The fund targets a corpus of ₹750 crore, with a green shoe option for an additional ₹250 crore, bringing the total potential corpus to ₹1,000 crore. Prime Litmus Investment Management is a collaboration between Prime Research and Advisory, a wing of Prime Securities, and Litmus Global Services LLP. The fund will focus on self-liquidating real estate ventures that offer cash-flow…

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Oberoi Realty invests ₹268.5 crore in Bandra East project

Representative AI image NEW DELHI: Oberoi Realty has invested ₹268.50 crore in equity shares of Centerstage Realty, its fully-owned subsidiary, via a rights issue, as stated in a regulatory filing. The company purchased 26.85 crore equity shares at a nominal value of ₹10 each. Following this transaction, Oberoi Realty maintains its complete ownership and control of Centerstage Realty. Centerstage Realty was established on June 2, 2026, as a special purpose vehicle for the development of railway land in Bandra East, adjacent to the Western Express Highway in Mumbai. Previously, the company disclosed that its bid to the Railway Land Development…

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Maharashtra Decentralises Land Approvals to Accelerate Projects

The Maharashtra government has enhanced the authority of district collectors and divisional commissioners to approve government land transactions. This initiative aims to minimize bureaucratic delays and accelerate investment and redevelopment initiatives throughout the state. As stated in a government resolution (GR) from the Revenue and Forest Department, the delegation of powers under Section 37A of the Maharashtra Land Revenue Code, 1966 has been updated. This allows district-level and divisional authorities to authorize a broader range of land-related proposals without needing state government approval. The move is designed to improve the business environment and hasten approvals for industrial, infrastructure, housing, and…

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Maharashtra to Launch New Rates for Towers and Slums Post-Survey

MUMBAI: Maharashtra will implement distinct Ready Reckoner (RR) rates for high-rises and slum clusters within the same area, following a statewide micro-zoning initiative aimed at enhancing the realism and fairness of property valuations, announced Revenue Minister Chandrashekhar Bawankule on Wednesday. This decision, revealed on the 12th anniversary of Prime Minister Narendra Modi’s tenure, seeks to aid middle-class homebuyers and slum dwellers currently subjected to uniform valuation rates, despite significant differences in infrastructure and amenities. Bawankule noted that the Maharashtra government has initiated a three-phase survey program for micro-zoning, entrusting the Maharashtra Remote Sensing Application Centre to carry out the task…

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Reliance Consortium Wins 101-Acre Mumbai Slum Redevelopment Bid

MUMBAI: A consortium led by Reliance Industries’ subsidiary, Reliance 4IR Realty Development, in collaboration with Mahadev Realtors Juhu, has successfully won the bid for the redevelopment of the 101.36-acre Juhu Galli slum cluster in Andheri (West), making it one of the largest slum redevelopment projects in Mumbai. The tender process was overseen by the Slum Rehabilitation Authority (SRA) and drew bids from major corporate groups, including Reliance, JSW, and the Shapoorji Pallonji Group. The Reliance-led consortium emerged victorious in the bidding process. The redevelopment plan aims to construct over 28,000 homes for eligible slum residents. This initiative falls under the…

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RBI Sets Final Rules for Easing Bank Loans to REITs, InvITs

MUMBAI: On Wednesday, the Reserve Bank issued final amendment directions that allow commercial banks to lend to Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), while maintaining essential safeguards regarding exposure limits, asset quality, and repayment structures. The final directions incorporate feedback from stakeholders following the draft norms. Key changes include allowing overseas branches of Indian banks to engage in REIT financing through syndication, with specific caps on contributions (20%) and risk weight (150%). The requirement for an insolvency mechanism has been modified to include a broader stipulation for an “effective recovery mechanism” in overseas jurisdictions. The central…

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Patna Civic Body Approves Leasehold to Freehold Conversions

PATNA: The empowered standing committee of the Patna Municipal Corporation (PMC) has approved a proposal to transition leasehold residential properties to freehold ownership. Residents in areas such as Rajendra Nagar, Shri Krishnapuri, PIT Colony, and Beur will be eligible for full ownership rights upon payment of a conversion fee set at 10% of the existing circle rate. This proposal was a key discussion point in the 23rd ordinary meeting of the empowered standing committee on Tuesday, during which members ratified 18 agenda items aimed at enhancing municipal administration. Led by mayor Sita Sahu, this policy seeks to address longstanding legal…

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Tamil Nadu to set land survey guideline values by June-end

CHENNAI: Tamil Nadu’s Minister for Commercial Taxes and Registration, T Logesh Tamilselvan, has instructed officials to ensure that all land survey numbers in the state are assigned a market guideline value by the end of June. He also emphasized the need for quicker and more user-friendly registration services. The Minister issued these directives during the inaugural performance review meeting for senior officials at the 160-year-old district registrar’s office on Rajaji Salai, Chennai, on Tuesday. The meeting was attended by J. Kumaragurubaran, Secretary of Commercial Taxes, Registration, and Hindu Religious and Charitable Endowments, as well as Inspector General of Registration, G…

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Hyderabad: Banjara Hills ₹1,000 Crore Land Auction Dispute

Representative image HYDERABAD: A significant land auction organized by the Hyderabad Metropolitan Development Authority (HMDA) in Banjara Hills has sparked controversy, with two claimants asserting that part of the high-value government land slated for auction overlaps with their properties. The contention revolves around an 8.24-acre parcel in survey No. 102/1 of Hakeempet village, which HMDA intends to auction on June 19. This land is among the most sought-after in the city, with an estimated valuation of nearly Rs 1,000 crore. HMDA has set a base price of Rs 99 crore per acre, anticipating bids between Rs 130 crore to Rs…

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Delhi CM: No Demolition of O-Zone Colonies

NEW DELHI: Delhi Chief Minister Rekha Gupta announced on Tuesday that there will be no demolition actions against existing constructions in the colonies and villages within the O-Zone area. In a meeting held at the Secretariat, Gupta discussed the matter with senior officials and public representatives, including MPs Manoj Tiwari and Ramvir Singh Bidhuri, MLA Arvinder Singh Lovely, as well as senior officers from the Municipal Corporation of Delhi (MCD) and the Delhi Development Authority (DDA). Approximately 91 unauthorized colonies and a dozen old villages, housing around 15 lakh people, are located in the O-Zone area, which encompasses the eco-sensitive…