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

Max Estates Gets Development Rights for 7.25 Acres in Gurugram

Representative image NEW DELHI: Max Estates has acquired the development rights to a 7.25-acre land parcel in Sector 59, Gurugram. This agreement involves purchasing 100% of Base Buildwell (BBPL), a project SPV that holds the license and development rights for the land. The project has the potential for 1.3 million sq ft of development, with an estimated investment of ₹534 crore, and is projected to yield a booking value exceeding ₹3,000 crore. The investment includes the complete acquisition of BBPL’s share capital, comprising 10,000 equity shares of ₹10 each and 24,17,256 compulsorily convertible debentures of ₹100 each, along with project-level…

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Vedanta Wins ₹17,000 Crore Bid for Jaiprakash Associates

NEW DELHI: Mining giant Vedanta has outbid Gautam Adani’s Group to acquire the financially troubled Jaiprakash Associates (JAL) for Rs 17,000 crore, as reported by sources. This bid equates to an estimated net present value (NPV) of Rs 12,505 crore for JAL. JAL operates in various sectors including real estate, cement, power, hotels, and road construction, but it has been subjected to insolvency proceedings following loan payment defaults. The creditors of JAL initiated a competitive bidding process for the company’s sale under the Insolvency and Bankruptcy Code (IBC). While several parties expressed interest, only Vedanta and Adani Group placed firm…

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Realtors Optimistic on Purple, Blue Line Extensions and New Links

KOLKATA: The ongoing expansion of metro networks in urban areas is significantly reshaping the real estate market and influencing home buying trends, according to developers in Kolkata. The introduction of new metro routes has notably decreased travel times, benefiting thousands of daily commuters. This enhanced connectivity is expected to spur the development of offices, healthcare, educational institutions, retail outlets, and entertainment venues in regions such as Howrah, Joka, and northern suburbs of Kolkata. According to Credai West Bengal president Sushil Mohta, a prominent effect will be an increase in the office sector, particularly in Salt Lake Sector V, EM Bypass,…

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Kanpur’s New Circle Rates Now in Effect

KANPUR: As of Friday, September 5, the revised circle rates for land in the Kanpur Nagar district are now in effect. The updated rates include significant changes to the general guidelines. Depreciation allowances of 30% to 60% are now applicable for the construction costs of units, flats, or floors in multi-story residential buildings with up to four floors. Additionally, the previously mandated minimum common facility fee of 18% has been eliminated. For large non-agricultural residential plots, depreciation rates have been established: 20% for areas between 1,000 and 2,000 square meters, 25% for areas from 2,000 to 3,000 square meters, and…

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Shriram Properties to Develop 6.5 Acres in North Bengaluru

NEW DELHI: Shriram Properties (SPL) has entered into a joint development agreement for a 6.5-acre site in North Bengaluru. The company plans to launch a residential project that will encompass approximately 0.6 million sq ft, with an anticipated gross development value (GDV) of ₹500 crore. SPL reported a sales volume of 0.8 million sq ft in Q1 FY26, reflecting a 17% year-on-year increase, equating to ₹441 crore. Additionally, collections reached ₹388 crore, showing a 5% rise compared to the previous year. On the financial side, total revenue stood at ₹262 crore, maintaining a healthy gross margin of 34% and generating…

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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.…