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

Oberoi Realty Consortium Secures Hotel Horizon for ₹919 Crore

NEW DELHI: Oberoi Realty, in collaboration with Shree Naman Developers and JM Financial Properties and Holdings, has been chosen as the successful bidder for Hotel Horizon (HHPL), a company currently undergoing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC), 2016. The committee of creditors (CoC) has issued a letter of intent (LoI) approving the consortium’s resolution plan. According to the plan, the consortium will make a payment of ₹919 crore to HHPL’s creditors as a full and final settlement, including the costs associated with the Corporate Insolvency Resolution Process (CIRP). Founded in 2004, HHPL owns a sea-facing land parcel…

IndustryLatest Stories

Maharashtra panel suggests 10% extra area for self-redevelopment

MUMBAI: A government-appointed committee has proposed a 10% increase in carpet area for residents of housing societies who choose the self-redevelopment scheme, aiming to encourage self-redevelopment. Self-redevelopment allows residents to manage the construction of their own buildings without a builder, retaining all construction benefits and profits that would normally go to developers. On Monday, BJP MLC Pravin Darekar submitted the committee’s report to Chief Minister Devendra Fadnavis at a function in Vidhan Bhavan. The recommendations will be passed on to the departments of housing, cooperatives, and urban development. “The proposal will be endorsed by the cabinet based on departmental suggestions.…

IndustryLatest Stories

Civic Body Gets 49,000 Feedback on Revised Development Plan

PUNE: The Pimpri Chinchwad Municipal Corporation (PCMC) has wrapped up the period for public feedback on its draft revised development plan. “We received 49,000 suggestions and objections from residents,” reported Prasad Gaikwad, deputy director of PCMC’s town planning department, to TOI. He further noted that a committee of civic officials and external experts will be assembled to review the submissions before finalizing the draft, which will be sent to the state government for approval. The draft was initially approved during a standing committee meeting led by municipal commissioner Shekhar Singh on May 16. In accordance with regulations, the draft was…

IndustryLatest Stories

Elan Group Secures ₹250 Crore from Piramal Finance

Gurgaon-based developer Elan Group has secured ₹250 crore from Piramal Finance for a commercial project in the city, as reported by sources familiar with the matter. This financing follows a ₹1,200 crore funding from Kotak Real Estate Fund last year, and the company aims to expedite its projects in the area. In 2022, Elan Group raised $110 million (approximately ₹900 crore) from global alternative investment firm PAG. “The funding is designated for a commercial project covering one million sq ft in Gurgaon,” stated one of the sources. Elan Group opted not to comment, and transaction advisor CBRE was unavailable for…

IndustryLatest Stories

Delhi Master Plan 2041 Might Go Back to the Drawing Board

NEW DELHI: Is the draft Master Plan for Delhi 2041 going back for revisions? Over two years after the Delhi Development Authority (DDA) submitted the draft for notification and implementation—only for it to be sidelined—the discussion around Master Plan 2041 has reignited. On Monday, the Delhi government convened a private meeting to evaluate various elements of this critical document that outlines the future of urban development and infrastructure in the capital. Sources indicate that DDA presented a comprehensive overview of the draft to Chief Minister Rekha Gupta, her cabinet, and senior officials of the Delhi government. Further discussions are anticipated…

IndustryLatest Stories

Maharashtra: No tolerance for illegal constructions, warns deputy CM

MUMBAI: Deputy Chief Minister Eknath Shinde stated in the legislative assembly on Monday that the Maharashtra government will not endorse any illegal constructions and will impose strict penalties on officials found complicit in permitting such structures. Responding to a question from Parag Alavani (BJP) during the Question Hour, Shinde announced that instructions will be given to the Brihanmumbai Municipal Corporation (BMC) commissioner to compile a detailed inventory and categorization of illegal constructions in Mumbai. “Any officer found protecting illegal constructions will face strict action,” warned Shinde, who oversees urban development and housing. Members including Yogesh Sagar, Jitendra Awhad, Dilip Walse…

IndustryLatest Stories

Two Unsafe Margao Buildings to Be Demolished After Delay

After significant delays and legal hurdles, the demolition of the unsafe ‘Cabecca de Calconde’ building in Margao is on the horizon. This follows an order from the collector due to public safety concerns. The Public Works Department (PWD) has identified potential agencies for the demolition, which awaits the final evacuation of occupants and the resolution of a high court issue. However, there are ongoing concerns regarding potential redevelopment plans once the demolition is completed.

IndustryLatest Stories

Land registration freeze over ‘tampered’ records in AP

Representative image created by AI VIJAYAWADA: The state government appears to be at a standstill regarding the contentious issue of free-hold lands. Registration for approximately 20 lakh acres of assigned lands has been halted due to suspicions of record tampering. Despite conducting village-level revenue meetings to review land records, the government has failed to address the free-hold lands issue over the past year. Hundreds of thousands of farmers are struggling to sell their lands while the government delays in lifting the ban on registrations for lands marked in the prohibitory lands register. A Group of Ministers (GoM) has been appointed…

IndustryLatest Stories

Andhra Pradesh Introduces Self-Certification for Building Permits

VIJAYAWADA: In a significant initiative to streamline business operations and spur real estate development, the state government has announced updated guidelines for the Self-Certification Scheme (SCS) 2025 concerning building permits. The new framework is part of the state’s broader vision to simplify the building approval process while promoting a transparent and inclusive approach to urban development. It aims to empower both citizens and licensed technical personnel (LTPs) through a trust-based approval system, representing a shift towards responsible self-governance instead of stringent regulation. S Suresh Kumar, the principal secretary for Municipal Administration and Urban Development (MA&UD), issued a government order on…

IndustryLatest Stories

Rampant Building Violations Unchecked in Bengaluru Due to Resource Gaps

By Sanjana CS BENGALURU: Cooke Town has experienced a notable rise in blatant building violations over the last decade. Builders often disregard regulations, removing mandatory setbacks and constructing extra floors without the necessary permissions. Despite the Supreme Court providing clear guidelines to mitigate illegal constructions, the Bruhat Bengaluru Mahanagara Palike (BBMP) shows little willingness to enforce action against these violations. “In Cooke Town alone, 26 buildings have been flagged as severe offenders, yet only one has faced any form of action, and that was merely a token effort,” states resident Raja Shanmugam. The only building that encountered repercussions had added…