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.

IndustryLatest Stories

Godrej Properties COO and Mumbai CEO Resign

NEW DELHI: Godrej Properties has announced major leadership changes with the resignations of two senior executives: Vikas Singhal, the Chief Operating Officer, and Priyansh Kapoor, Zonal CEO of the Mumbai Metropolitan Region (MMR). As per the company’s regulatory filing, Kapoor’s resignation will take effect at the close of business on July 18, 2025, and he will be succeeded by Amitesh Shah, who will take on the role of Zonal CEO – MMR from July 19, 2025. Shah has been with the company since 2011 and most recently served as the regional head for MMR 1. Meanwhile, Singhal’s resignation as COO…

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Prayagraj Highrises to Face Mandatory Safety Audits

PRAYAGRAJ: New regulations are set to enhance the safety of high-rise buildings in the city, making structural safety audits mandatory. Under these guidelines, all buildings taller than 15 meters must undergo a safety audit 10 years after their completion, followed by audits every five years. This initiative comes in response to safety concerns and previous fire incidents in multiple high-rise structures in the area. In the last two decades, many tall buildings have been built in Prayagraj, yet most have never undergone formal safety assessments post-construction. Previously, only a single No Objection Certificate (NOC) from a structural engineer was required…

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Ludhiana Civic Body Overwhelmed by Property Tax Hike Queries

LUDHIANA: Following the announcement of a 5% increase in property tax, civic officials are fielding numerous inquiries from residents regarding potential new tax payments. The state government’s notification specifies that the revised rate will take effect from April 1. However, officials from the Municipal Corporation (MC) clarified that this increase has been in place since 2021 and is already being collected. This recent notification stems from a letter issued in 2021, allowing the state government to access additional borrowing from the central government under various schemes. The local bodies department’s letter indicates that, for ULBs (Urban Local Bodies) to qualify…

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Ashwin Sheth Group Buys 4.05 Acres in Goregaon West, Mumbai

NEW DELHI: Ashwin Sheth Group has secured development rights for a 4.05-acre site from Mhada and intends to launch a residential project in Siddharth Nagar, Goregaon West, Mumbai. The project, with a gross development value (GDV) of ₹3,800 crore, will comprise five towers, including four 44-floor towers and a distinctive 60-floor tower, along with dedicated retail space. The development will provide approximately 12 lakh sq ft of carpet area, featuring 2, 3, and 4-bedroom residences ranging from 800 to 1600 sq ft. Published On Jul 18, 2025 at 01:00 PM IST Join over 2M industry professionals. Subscribe to our newsletter…

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Sunteck Realty Q1 FY26 Profit Up 47% to ₹33.43 Crore

Sure! Here’s a rewritten version of the content: NEW DELHI: Sunteck Realty Ltd has announced a 47% increase in consolidated net profit, reaching ₹33.43 crore in the first quarter of the current fiscal year. In the same period last year, the net profit was ₹22.78 crore. However, total income decreased to ₹201.53 crore in the April-June quarter of 2025-26, down from ₹328.01 crore in the corresponding quarter of the previous year, as noted in a regulatory filing on Thursday. Sunteck Realty is recognized as one of the prominent real estate companies in India, having developed numerous projects in the Mumbai…

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Maharashtra Extends Nazul Land Amnesty Scheme for One Year

NAGPUR: The Maharashtra government has decided to extend its special amnesty scheme for nazul land leases for another year. This move comes after Nagpur Central MLA Pravin Datke emphasized the positive public feedback and significant revenue generation from the scheme. The extension was confirmed during a meeting led by Revenue Minister Chandrashekhar Bawankule at the state legislature on Thursday. Initially launched on March 16, 2024, the scheme enables residents in the Nagpur and Amravati regions to convert nazul land leases into permanent Class-1 ownership rights by paying only 2% of the current market rate, a decrease from the previous 5%.…

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Goa forms expert panel to examine illegal homes on private land

PANAJI: In response to growing concerns regarding unauthorized structures on comunidade land, the government has established a 10-member expert committee to investigate the inappropriate usage and illegal construction of residential houses on non-government land. The committee, led by additional collector Gurudas Desai as the member secretary, will assess the current usage of state land and recommend sustainable land management policies. “The revenue department is keen for experts to examine cases where residential homes have been built on non-government land without ownership rights and to propose relevant legal, policy, or administrative measures for granting ownership and legalizing such properties, considering eligibility…

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Godrej Properties Acquires 48 Acres in Bengaluru

Representative image NEW DELHI: Godrej Properties (GPL) has secured a 48-acre land parcel in Doddaballapur, North Bengaluru, via outright purchase. The planned development will mainly consist of plotted units, boasting a development potential of 1.1 million sq ft. Gaurav Pandey, MD & CEO of the company stated, “This investment emphasizes our aim to bolster our presence in crucial growth corridors with well-planned residential communities. Bengaluru remains a key market for us.” Additionally, the company recently acquired 50 acres of land in Raipur, set to include primarily plotted residential units with an estimated saleable area of 9.5 lakh sq ft. Published…

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Kalpataru Q4 FY25 Profit Falls 42% to ₹14 Crore

NEW DELHI: Realty firm Kalpataru Ltd has reported a 42% decline in its consolidated net profit, dropping to Rs 14.05 crore in the fourth quarter of FY25. In the same period last year, the Mumbai-based company had a net profit of Rs 24.30 crore. However, total income increased to Rs 667.21 crore for the January-March quarter of the 2024-25 fiscal year, up from Rs 535.22 crore in the corresponding period last year, according to a regulatory filing. During the entire 2024-25 fiscal year, Kalpataru Ltd reported a net profit of Rs 21.62 crore, recovering from a loss of Rs 94.98…

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Minister: Rent Deals with Redevelopers Now Valid for Passports

MUMBAI: The Centre has prepared Standard Operating Procedures (SOPs) for police verification needed for passport applications. However, the Maharashtra government is addressing concerns raised by citizens whose residential buildings are undergoing redevelopment, according to a minister’s statement on Wednesday. During an assembly session, Minister of State for Home, Yogesh Kadam (Urban), emphasized that verifying addresses for passport applications is a national security issue. This process requires confirming the applicant’s identity along with any pending criminal cases. It is important to note that police verification for issuing passports occurs at the applicant’s registered address. The redevelopment of older buildings can cause…