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

Lucknow Property Rates Set to Increase with New Circle Rates August 1

Sure! Here’s a rewritten version of the content: LUCKNOW: The cost of residential and commercial properties in Lucknow is set to increase as the district administration plans to implement revised circle rates starting August 1. According to Rakesh Kumar, the additional district magistrate (finance), the new rates reflect an average increase of 15% across all property types, aiming to keep pace with the city’s rapid urban growth, improved infrastructure, and rising demand for properties. The last revision of circle rates was conducted in 2015. The new rates will affect 77 major arterial roads and 26 approved residential colonies. In prime…

IndustryLatest Stories

Adani Properties Secures NCLT Approval for HDIL Assets

MUMBAI: The National Company Law Tribunal (NCLT) has given the green light to Adani Properties for the acquisition of two assets from the insolvent Housing Development and Infrastructure (HDIL) as part of the corporate insolvency resolution process (CIRP). The acquired assets include a commercial property named ‘Inspire BKC’ located in Mumbai’s Bandra-Kurla Complex and a piece of land situated in Kalyan Shahad on the outskirts of Mumbai. Adani Properties was identified as the sole bidder submitting a proposal compliant with the Insolvency and Bankruptcy Code (IBC) for both assets. The resolution plan for the Inspire BKC project is appraised at…

IndustryLatest Stories

Notices to 266 for Home Business Operations & Code Violations

AI-generated Representative Image GURUGRAM: For the third week in a row, the district town planner (enforcement) team conducted an “office on the spot” drive in Sushant Lok phases 2 and 3. Approximately 266 notices were affixed to homes that violated building guidelines, zoning laws, and occupancy certificate regulations. Of these, 183 violations were found in phase 3 and 83 in phase 2, bringing the total to over 650 notices issued in the last three weeks. Led by DTP (enforcement) Amit Madholia, the team performed a door-to-door survey in Sectors 55, 56, and 57 to pinpoint properties being used for commercial…

IndustryLatest Stories

Auto Mutation of Property in Chandigarh Within a Week

CHANDIGARH: The property auto-mutation process for leasehold properties will now occur within two days, while freehold properties will take up to a week. The estate office has issued a Standard Operating Procedure (SOP) for its implementation across relevant departments. This system automates the mutation process based on registered property deeds, removing the requirement for separate applications from the transferee and minimizing manual intervention. It relies on real-time digital integration between the sub-registrar office (SRO) and the estate office. According to an estate office official, once a deed is registered at the SRO, the associated data and documents are securely sent…

IndustryLatest Stories

Landlords to Auction Bhadravati Civic Body Assets

CHANDRAPUR: In a surprising development, private landowners repossessed furniture and assets from the Bhadravati Municipal Council office due to unpaid rent totaling nearly 66 lakh for land leased for the town’s weekly market. The 30,033 square feet of land, owned by Raju Gundawar, Sanjay Gundawar, and Kishor Gundawar, was leased to the council in 2018 for a monthly fee of 66,000. Although initial payments were made, the council eventually defaulted, accumulating years of overdue rent. Despite repeated reminders and offers of payment plans from the landowners, the council failed to settle the outstanding debt. Consequently, the landowners sought legal recourse,…

IndustryLatest Stories

Norges Bank sells ₹42 crore in Raymond Realty; parent’s ₹221 crore deal

On Tuesday, Raymond Limited’s real estate division, Raymond Realty, made its debut on the stock market amid a block deal, as Norges Bank sold 4,12,585 equity shares valued at approximately Rs 42 crore. This transaction occurred slightly above the listing price of Rs 1,000 on the NSE but below the discovery price. Norges Bank, on behalf of the Norwegian Government Pension Fund Global, sold shares at Rs 1,005.94. Conversely, shares of Raymond Realty closed at Rs 999, down by Rs 40, which is nearly a 4% drop from the discovery price of Rs 1,039.30. The parent company, Raymond, also experienced…

IndustryLatest Stories

Keystone Realtors to Revamp Eight Societies in Andheri West

NEW DELHI: Keystone Realtors (Rustomjee Group) has been appointed as the developer for a significant cluster redevelopment project in Andheri West, Mumbai, chosen by eight housing societies. A development agreement (DA) has been finalized with five societies, while letters of intent (LOIs) have been received from the remaining three, with the execution of DAs anticipated in the coming days. Boman Irani, Chairman and Managing Director of the company, stated, “With a GDV close to ₹3,000 crore and an extensive development footprint, this project showcases our commitment to scale, location, and value generation.” The redevelopment plan entails transforming a group of…

IndustryLatest Stories

Lodha Developers to Pay ₹520 Crore in V Hotels Legal Dispute

AI generated image. NEW DELHI: Lodha Developers Ltd has been instructed to deposit ₹520.80 crore as security related to an ongoing Supreme Court case against V Hotels Ltd, which the company acquired last year through insolvency proceedings. In a regulatory filing on Wednesday, Lodha revealed that this issue concerns proceedings initiated by the Enforcement Directorate (ED) against the former promoter of V Hotels Ltd (VHL) regarding a transaction of ₹520.80 crore, allegedly funneled through VHL before the onset of the insolvency process. Lodha anticipates that the Supreme Court will expedite the hearing in this matter, leading to the release of…