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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Gmada proposes ₹800/sq yard cut in enhancement fees for sectors 76-80

MOHALI: A potential relief for over 30,000 plot allottees in sectors 76 to 80 is on the horizon as the Greater Mohali Area Development Authority (GMADA) has proposed reducing enhancement charges by Rs 800 per square yard. However, this proposal awaits final approval, as the state government is seeking a comparative review of enhancement charge calculations used by other regional development authorities. The decision was made during a GMADA executive committee meeting chaired by Punjab Chief Secretary K.A.P. Sinha, who also leads the committee. The meeting took place at the PUDA office in Sector 62 on Thursday. Before proceeding with…

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Bain Capital sells 1.9% stake in Embassy REIT for ₹691 crore

NEW DELHI: On Thursday, private investment firm Bain Capital divested 1.9% of its unitholding in Embassy Office Parks REIT for ₹691 crore via an open market transaction. Bain Capital, based in the US, sold just over 1.78 crore units through its affiliate, APAC Company XXIII, representing 1.87% of its stake in Embassy Office Parks REIT in Bengaluru, according to bulk deal data from the BSE. The units were sold at an average price of ₹388 each, resulting in a total deal value of ₹691.41 crore. The identities of the buyers for these units remain unknown on the exchange. Following the…

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Mittal Builders, HoABL to invest ₹2,000 Cr in Mumbai project

NEW DELHI: Realty company Mittal Builders has partnered with House of Abhinandan Lodha to launch a housing project in the Mumbai Metropolitan Region with a total investment of ₹2,000 crore. On Thursday, Mittal Builders announced it has signed a Joint Development Agreement (JDA) with House of Abhinandan Lodha (HoABL) to co-develop an 11-acre project comprising 3 million sq ft, including over 4,600 apartments and high-street retail spaces. The project is anticipated to be unveiled in the second quarter of 2025-26. “The joint venture entails an investment of approximately ₹2,000 crore and a gross development value (GDV) of over ₹3,000 crore…

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Puravankara to Co-Develop 5.5 Acres in East Bengaluru

Representative image created by AI NEW DELHI: Puravankara Group has announced a joint development on a 5.5-acre land parcel in Balagere, East Bengaluru, with a projected gross development value (GDV) exceeding ₹1,000 crore. This parcel includes a total saleable area of 0.83 million square feet, with the project expected to launch within six to nine months. According to Mallanna Sasalu, CEO-South of Puravankara, “We anticipate launching the project in the next 6-9 months, and are confident it will enhance our growing portfolio.” Earlier in the year, the company acquired a 3.63-acre site on Kanakapura Road, valued at over ₹700 crore.…

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Maharashtra to Legalize Subdivided Land by Jan 1, 2025

Representative image created by AI MUMBAI: The Maharashtra government is set to give legal recognition to subdivided land parcels until January 1, 2025, by easing and eventually eliminating the existing land fragmentation law, according to Revenue Minister Chandrashekhar Bawankule, who spoke to the legislative assembly on Wednesday. Bawankule mentioned that more than 50 lakh families face challenges due to land fragmentation rules. He stated that plots measuring up to one guntha (approximately 1,089 sq ft) created before January 2025 will be legalized, allowing citizens to secure official property rights. However, any plots subdivided after January will need to comply with…

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Valor Wins Lavasa Bid with ₹771-Crore Offer

Realty developer Valor Estate, previously known as DB Realty, has placed the highest bid of ₹771.09 crore for Lavasa Corporation, as part of the ongoing insolvency resolution for the financially troubled hill city project near Pune. This bidding process, conducted under the ‘challenge process’ of the Corporate Insolvency Resolution Process (CIRP), ended on Tuesday. “The highest bidder was determined after an intense series of 10 rounds,” noted an insider. “The committee of creditors (CoC) will continue negotiations with the applicant to optimize the value. Details regarding the timeline for final plan submissions and proof of funding will be provided separately.”…

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Karnataka’s New Cell to Recover Builder Dues

BENGALURU: Homebuyers in Bengaluru and other parts of Karnataka can finally see some hope as the government is taking action against non-compliant builders. A dedicated ‘Recovery Cell’ is nearing establishment to ensure that real estate developers who fail to adhere to Karnataka Real Estate Regulatory Authority (K-Rera) orders regarding buyer compensation are held accountable. This step comes after prolonged frustrations faced by homebuyers who didn’t receive property ownership or compensation, despite clear orders from K-Rera. Rera chairman Rakesh Singh informed TOI that most groundwork has been done, and a final decision regarding whether the cell will operate under Rera or…

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Task Force to Fire-Audit All Commercial Buildings in Kolkata

KOLKATA: The state task force on fire safety has decided to expand its proposed audit for markets and rooftop restaurants to encompass all commercial buildings, shopping malls, hospitals, and schools. This decision was made during a task force meeting at the KMC headquarters on Monday. The audit will be conducted once the standard operating procedure (SOP) is finalized. An attendee of the meeting emphasized the need for proper water sourcing for firefighting, moving electric meters away from the entrances of commercial buildings, closely monitoring violations of fire safety norms, and enforcing stricter fire license renewal processes to ensure compliance from…

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Prestige Estates posts ₹12,126 crore sales in Q1 FY26

Sure! Here’s a rewritten version of the content: — Representative image created by AI NEW DELHI: Prestige Estates Projects has recorded sales of ₹12,126 crore in Q1 FY26, marking a nearly four-fold increase compared to the same quarter last year. The company sold 4,718 units from April to June, resulting in 9.55 million sq ft of saleable area—a 234% year-on-year growth. Collections reached ₹4,523 crore, up 55% from Q1 FY25. The average realization was ₹13,339 per sq ft for apartments and ₹7,343 per sq ft for plotted developments. NCR Fuels Growth, Mumbai Sees First Project Completions This quarter saw a…

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Signature Global records ₹2,640 crore pre-sales in Q1 FY26

Representative image created by AI NEW DELHI: Signatureglobal (India) reported pre-sales of ₹2,640 crore for Q1 FY26, down from ₹3,120 crore during the same period last year. The company experienced a notable increase in average sales realization, which rose by 31% year-on-year to ₹16,296 per sq ft in Q1 FY26, compared to ₹12,457 per sq ft in FY25. Pradeep Kumar Aggarwal, chairman and whole-time director, stated, “We expect strong sales momentum and are confident in achieving our annual targets across several metrics.” Collections for the quarter totaled ₹930 crore, lower than ₹1,210 crore in Q1 FY25. In terms of business…