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

Valor Estate Might Seek NCLT Review of Lavasa Offer

MUMBAI: Valor Estate is poised to submit a petition to the Mumbai National Company Law Tribunal (NCLT), seeking permission to revise its resolution plan for Lavasa Corp. This move comes after the tribunal recently allowed the Welspun-Ashdan Developers consortium to amend its payment schedule. Valor’s petition follows a week of rapid developments wherein the Welspun-Ashdan consortium emerged as the frontrunner for the takeover due to its modified payment timeline. The committee of creditors voted on three resolution plans, including one from the Yogayatan Group, on Wednesday. During a hearing regarding another application submitted by Anuj Goyal, Valor’s legal team raised…

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Karnataka Cabinet Approves 1% Fire Cess on New High-Rises

The Karnataka state cabinet recently decided to impose a 1% fire cess on new multi-storey buildings in Bengaluru and other parts of the state. Builders believe this move will have a minimal effect on their investments, yet may lead to increased property prices. The cabinet’s decision amends the Fire Force Act of 1964 to include this new levy alongside property taxes for new high-rise structures. The government stated that the funds generated will enhance the operational capacity of the fire services. However, real estate developers in Bengaluru express concerns that this additional tax will exacerbate existing financial burdens stemming from…

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Noida Authority to Publish Property Defaulters’ Names Online

NOIDA: In an effort to enhance transparency and recover long-overdue dues, the Noida Authority has instructed officials to post defaulter lists on its official website. This includes defaulters from industrial, group housing, commercial, and institutional sectors, who will also receive notices. Noida’s CEO, Lokesh M, announced this initiative during a review meeting on Wednesday with senior officials and department heads. Officials noted that a similar effort took place in June 2023, when the Authority published information about 115 group housing projects—most of which were defaulters—but did not update the list afterward. To prevent this from happening again, strict orders have…

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Sept 5 Meeting for Jaiprakash Associates Lenders; Bidding Challenge Ahead

NEW DELHI: The lenders of Jaiprakash Associates Ltd (JAL), which is currently undergoing insolvency proceedings, will convene on Friday to initiate a ‘challenge process’ involving five bidders. This step aims to optimize the value of the distressed company’s assets. The Committee of Creditors (CoC) is set to meet on September 5. Among the bidders vying to acquire JAL are Adani Group, Dalmia Bharat, Vedanta Group, Jindal Power, and PNC Infratech. Sources indicate that during a CoC meeting on August 22, it was decided to engage in further commercial negotiations with each Resolution Applicant to maximize the asset value of JAL.…

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Revamping Maharashtra’s Housing Policy for Urban Growth

The Maharashtra government’s new housing policy aims to create a comprehensive statewide land bank of mapped, geo-tagged, and digitally linked government-owned plots. This initiative is anticipated to resolve existing supply issues and enhance the availability of affordable housing across various income brackets, positively impacting urban growth and infrastructure investment throughout the state. Included in this policy is the establishment of the State Housing Information Portal (SHIP), a centralized digital platform designed to consolidate information regarding housing demand, land availability, and project implementation. For the first time, input from municipal corporations, planning bodies such as the Maharashtra Housing and Area Development…

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Lucknow plans 300-acre logistics park, 15,000 Varun Vihar plots

LUCKNOW: The Lucknow Development Authority (LDA) is set to develop a 300-acre logistics park as part of the upcoming Varun Vihar scheme along the Agra expressway. This initiative will also include over 15,000 residential, commercial, and group housing plots, making it one of the state’s largest housing and infrastructure projects. During a site inspection on Wednesday, LDA Vice-Chairman Prathamesh Kumar urged officials to expedite land acquisition. He engaged with engineers, project officials, and farmers at the site office in Dona village. Kumar stated, “Varun Vihar is designed to provide homes for countless families while also generating new employment and investment…

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GST Council Approves Two-Tier Tax Structure Starting September 22

NEW DELHI: The GST Council has approved reductions in tax rates on commonly used items such as hair oil, corn flakes, televisions, and health and life insurance policies, marking a significant revamp of the Goods and Services Tax system. The new GST rates, effective from September 22, will reduce the current four tax slabs to just two: 5% and 18%. This change comes as India prepares for the start of Navaratri. This initiative aims to enhance domestic spending and mitigate the economic impact of US tariffs by significantly lowering tax rates on most personal use items. Following a lengthy GST…

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Greater Noida Authority Approves Co-Developers for 3 Stalled Projects

NOIDA: The Greater Noida Authority has granted preliminary approval to appoint co-developers for three housing projects that have been stalled for over ten years. During their meeting on July 28, the Greater Noida Authority board endorsed proposals from Sobha Ltd, Opaa Realty, and Swarnim Buildhome LLP to take over and complete the unfinished housing projects. Officials noted that Atlaspur Construction and Developers collaborated with Sobha Ltd for its Sector 1 project, while Parsvnath Developers suggested Opaa Realty for its Pi Sector project. Additionally, Aims Golf Town Developers requested Swarnim Buildhome LLP for its Sector 4 township. The proposals underwent a…

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Kartik Aaryan Invests in 2,000 Sq Ft Plot in Alibaug

Bollywood actor Kartik Aaryan has made his first investment in land by acquiring a 2,000 sq. ft. plot in a coastal development project in Alibaug, located near Mumbai, from The House of Abhinandan Lodha (HoABL). Launched in April 2023, the project has attracted contributions from corporate leaders, business figures, and celebrities. Aaryan is now among the prominent buyers in HoABL initiatives across Ayodhya, Vrindavan, and Goa, as stated by the company. “Alibaug has become a highly sought-after investment spot close to Mumbai, and I intend to build my own home there. This is my first land investment,” Kartik Aaryan remarked.…