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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Reforming Land Policies Can Boost Housing Affordability: Niti Aayog

Representative AI image NEW DELHI: Rajiv Gauba, a member of Niti Aayog, highlighted significant challenges in housing development due to land constraints. He called for comprehensive reforms to reduce land costs. “We should allocate a minimum of 10% of residential land for affordable housing in our master plans, increase permissible FARs (Floor Area Ratios) from the current 2-3 to 5-6, promote transit-oriented development, and adopt land pooling. These strategies will help reduce land costs and increase housing supply,” he stated. Currently, land accounts for 50-70% of total project costs, which is notably higher than in similar infrastructure sectors. Gauba made…

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Andhra’s First Slum Rehabilitation Authority in Visakhapatnam

Representative AI image VISAKHAPATNAM: The Greater Visakhapatnam Municipal Corporation (GVMC) has announced plans to amend the Visakhapatnam Municipal Corporation Act of 1979, marking a significant step towards establishing a Slum Rehabilitation Authority in Andhra Pradesh. This initiative aligns with the broader goal of urban redevelopment under the newly introduced Visakhapatnam Economic Region (VER) program. GVMC has initiated pilot projects for slum redevelopment in Velampeta and Indira Gandhi Nagar, submitting proposals to the state government. Both localities are set to be transformed into high-rise residential complexes. Currently, residents face challenges related to inadequate housing, cramped living conditions, poor sanitation, and a…

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Puravankara Q3 FY26 Net Profit at ₹58.34 Crore

NEW DELHI: Puravankara announced a consolidated net profit after tax of ₹58.34 crore for the quarter ending December 31, 2025, according to a filing with the BSE. This contrasts with a loss after tax of ₹92.64 crore reported during the same quarter last year. The company’s consolidated total income reached ₹1,104.06 crore in Q3 FY26, compared to ₹334.20 crore in the corresponding quarter of the previous fiscal year. The board of directors has approved the re-appointment of Ashish Ravi Puravankara as managing director for a five-year term, effective from April 1, 2026, through March 31, 2031. Additionally, the board has…

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Shriram Properties Settles Kolkata Land Issues with WB Gov.

NEW DELHI: Shriram Properties (SPL), via its subsidiary Bengal Shriram Hitech City (BSHCPL), has successfully resolved a long-standing commercial dispute with the West Bengal government. The agreement includes the transfer of 42.37 acres of land in Uttarpara, West Bengal. “With the execution and conveyance of the land, BSHCPL is fully discharged of its obligations in this matter,” stated the company. The land parcel in Kolkata covers 314 acres, with 48 acres currently utilized for ongoing projects totaling approximately five million sq ft of development. SPL aims to initiate new projects over the next five years, encompassing five to six million…

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Maharashtra Abolishes NA Tax to Boost Redevelopment of Housing Societies

PUNE | MUMBAI: State revenue minister Chandrashekhar Bawankule announced on Wednesday that the non-agricultural (NA) tax has been permanently eliminated, following directives from CM Devendra Fadnavis. This reform comes approximately a year and a half after its initial proposal and is poised to facilitate the redevelopment and regularization of aging housing societies in major urban areas like Pune, Mumbai, and Thane. The notification, issued late Tuesday, revises the Maharashtra Land Revenue Code to abolish the annual NA tax and the necessity for a separate non-agricultural land-use permit from the district collector. “This applies as long as the proposed land use…

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Canara Bank Seeks Bids for ₹577-Crore Housing Loan Sale

MUMBAI: Canara Bank is seeking offers from financial institutions and asset reconstruction companies (ARCs) to sell its ₹577 crore debt concerning the real estate firm Supreme Housing and Hospitality, with a reserve price set at ₹500 crore through a Swiss challenge auction. The Bangalore-based bank has also filed a petition with the Mumbai NCLT to restart insolvency proceedings against the company after a one-time settlement (OTS) proposal in July did not materialize, according to a knowledgeable source. “This debt auction allows the bank to gauge interest from investors while waiting for guidance from the Mumbai NCLT. The company previously made…

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Maharashtra Gaothans Protest SRA Survey Initiative

The Mobai Gaothan Panchayat (MGP), which advocates for the indigenous East Indian community, has vociferously opposed a recent survey notice issued by the Slum Rehabilitation Authority (SRA). They claim this effort seeks to label long-established Gaothans as “slums” and funnel them into redevelopment schemes. MGP reached out to Chief Minister Devendra Fadnavis and Andheri West MLA Ameet Satam, urging them to immediately retract the SRA notices targeting Gaothans. The notices were affixed in regions such as Chakala, Sahar, Bamanwada, Ambivali, and Kalina-Vakola, outlining at least 128 clusters without specifying house numbers. This vagueness has frustrated residents, whose families have inhabited…

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Haryana Revenue Officers End Strike, Easing Property Buyers’ Woes

CHANDIGARH: In a significant development for property buyers and sellers, tehsildars and naib tehsildars announced the end of their strike on Tuesday after discussions with Sumita Misra, Financial Commissioner (Revenue), at the Haryana Civil Secretariat. Revenue officers will resume their duties starting Wednesday. The strike was in response to recent criminal and administrative actions taken against them by various government and law enforcement bodies over the past two months. The protest also involved patwaris and district revenue officers. With over 11,000 registrations pending in revenue offices, the government had tasked sub-divisional magistrates (SDMs) and district revenue officers (DROs) to step…

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Bollywood Star Power Strengthens Dubai-India Real Estate Links

BENGALURU: Dubai’s real estate developers are increasingly leveraging Bollywood celebrity endorsements to promote projects, enhance their outreach to Indian and overseas buyers, and mitigate the impact of rising supply over the coming years. From opulent waterfront residences to affordable housing, partnerships with celebrities have emerged as a pivotal marketing strategy as the Emirate prepares for a considerable number of residential constructions. Recently, several notable developers have engaged top Hindi film actors as brand ambassadors, merging aspirational lifestyles with property marketing. DAMAC Properties, one of Dubai’s largest private developers, has partnered with Alia Bhatt and Ranbir Kapoor to promote its luxury…

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Arvind SmartSpaces Q3 FY26 Net Profit Drops 41.79%

NEW DELHI: Arvind SmartSpaces has experienced a significant decline of 41.79% in its net consolidated profit for the quarter ending December 31, 2025, with a profit after tax (PAT) of ₹29.21 crore compared to ₹50.18 crore in the same quarter last year, as noted in a BSE filing. The company’s net consolidated total income for Q3 FY26 was ₹170.50 crore, down by 20.87% from ₹215.47 crore reported in the equivalent quarter the previous year. The board of directors has approved the re-designation of Priyansh Kapoor, currently the whole-time director & CEO, as managing director & CEO of the company effective…