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

Mumbai: Historic Pali Hill Bungalow to Clear Way for Tower

MUMBAI: The Edwardian-style bungalow, Franklin House, constructed in 1920, is poised to become yet another heritage site lost in Bandra (W). Situated on St Auxilium Road within the prestigious Pali Hill area, the 1,459 sq m property has been acquired by Aspect Realty, a significant player in Mumbai’s real estate market. Mohit Kamboj, a former BJP leader and group CEO of Aspect Global Ventures, now oversees the property following a resolution plan sanctioned by the National Company Law Tribunal. For several decades, the property was under the management of a receiver appointed by the Bombay High Court due to an…

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Mokila Plot Sale in Hyderabad Brings in ₹231 Crore for HMDA

Representative AI image HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) achieved a record bid of ₹1.09 lakh per sq yard in its Mokila layout auction, conducted over two days. This highest bid more than doubled the government-fixed upset price of ₹50,000 per sq yard, enabling the authority to collect ₹231 crore from the sale of 100 residential plots. The HMDA carried out the e-auction in two phases, auctioning 50 plots each on Monday and Tuesday. Officials noted that while the peak bid reached ₹1.09 lakh per sq yard, the average bid was ₹75,640 per sq yard, underscoring strong demand for…

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Kolkata: Audit Panel to Evaluate 60 New Town High-Rises

KOLKATA: Around 60 residential and commercial high-rise structures built in the last three years in New Town are now under scrutiny by the government’s high-level audit committee. This comes as the verification process begins for all G+5 high-rise buildings and commercial establishments. According to the standard operating procedures (SOP) issued by the government, all civic corporations and urban local bodies involved in the audit of high-rise buildings must first compile a list of cases where building plan approvals have been granted in the past three years. The focus will be on under-construction projects such as hospitals, nursing homes, educational institutions,…

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Uttar Pradesh Sets Deadline for Township Takeover by Civic Bodies

GHAZIABAD: The UP government has set firm timelines for the transfer of large private townships to municipal corporations, ending uncertainty for residents who have been paying both civic taxes and high private maintenance fees. The newly released standard operating procedure (SOP) mandates that townships built under the hi-tech and integrated UP township policy be handed over to municipalities within a specified timeframe after they become eligible. This initiative is crucial because once the townships are transferred, the responsibility for maintaining roads, streetlights, water lines, drainage, sewers, parks, and open areas falls to civic authorities, clarifying years of confusion regarding maintenance.…

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Institutional Investments in Indian Real Estate Jump 37% to $1.7B

NEW DELHI: Institutional investments in Indian real estate surged 37% year-over-year to $1.7 billion in Q1 2026, primarily driven by the acquisition of core income-generating assets, as noted in a recent report by Equirus Capital. The report highlights that ongoing activity in private equity investments, mergers and acquisitions, and capital market transactions showcases investors’ preference for quality real estate platforms amidst global economic uncertainties. Strong institutional participation was observed in premium residential developments, Grade-A commercial properties, integrated mixed-use projects, and infrastructure-led growth corridors. Delhi-NCR stood out as a significant real estate investment hub, buoyed by demand for premium housing, commercial…

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Indore Mayor: 10% Tax Rebate for Rainwater Harvesting Systems

INDORE: Mayor Pushyamitra Bhargav announced on Monday a 10% rebate on property tax for buildings that implement functional rainwater harvesting systems. This initiative is aimed at enhancing groundwater conservation throughout the city. Building owners interested in this incentive will need to complete an on-site inspection, testing, and certification by authorized municipal building officers. The administration has also stated that if a certified rainwater harvesting system is found to be non-functional or discontinued during future inspections, the property tax exemption will be rescinded starting the following financial year. During a review meeting with Indore Municipal Corporation officials, Bhargav evaluated various aspects…

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Haryana Delays Launch of New Occupation Certificates System

GURUGRAM: The proposed self-certification system has been postponed. All approvals for building plans and occupation certificates (OCs) will proceed under the current regulations for the time being. The state will maintain the existing approval process until the necessary digital infrastructure and administrative framework are established. The Haryana government has issued new implementation guidelines for amendments to the Haryana Building Code-2017, emphasizing that key provisions from the revised regulations notified on December 8, 2025, will be delayed. According to the directives from Additional Chief Secretary Anurag Aggarwal, the self-certification system for low-risk residential buildings and third-party certification for high-risk structures, including…

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Maharashtra Deputy CM: 3-Year Deadline for Housing Projects

File Photo THANE: Maharashtra’s Deputy Chief Minister and Housing Minister Eknath Shinde announced on Sunday that developers are expected to complete housing and redevelopment projects within three years. He emphasized that builders who meet deadlines and maintain quality will receive priority for future government contracts. Shinde made these remarks while distributing keys to beneficiaries of a redevelopment project in Majiwada, Thane. He expressed a firm stance on addressing delays in redevelopment projects. The state government aims to eliminate administrative bottlenecks to expedite the completion of long-overdue housing projects and promote cluster redevelopment across Maharashtra. “Homeownership is a matter of dignity…

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Rajasthan to Revamp Land Conversion Norms to Boost Business

Representative AI image JAIPUR: The revenue department is working on amendments to Section 90A and associated provisions aimed at streamlining the change of land use (CLU) process as part of the Centre’s Business Reforms Action Plan (BRAP) Part II. This initiative aims to enhance the business environment in Rajasthan. The proposed amendments, pending approval from the revenue minister, intend to permit land-use changes in both planned and unplanned areas without needing separate CLU approvals, provided a specific conversion fee is paid. Officials indicated that this would alleviate regulatory challenges while safeguarding state revenue. Industry stakeholders have long expressed concerns that…

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Godrej Properties Purchases 47 Acres in Chennai

Representative AI image NEW DELHI: Godrej Properties (GPL) has secured a 47-acre land parcel through outright purchase, situated off Old Mahabalipuram Road (OMR) in South Chennai. The future development on this site is anticipated to mainly consist of plotted residential units, with an expected developable area of 1.2 million sq ft, and a projected revenue potential of ₹500 crore. Gaurav Pandey, MD & CEO of the company, stated, “South Chennai has become one of the most promising residential micro-markets in the region, bolstered by improved infrastructure and increasing interest from end-users.” Published On Jun 30, 2026 at 08:23 AM IST…