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

40 Developers Owe ₹261 Crore for Transit Tenements: CAG

MUMBAI: According to a report by the CAG, many developers involved in redevelopment initiatives nearly 25 years ago have retained transit tenements provided by Mhada, as of March 2022. The audit indicated that Mhada distributed 3,357 transit tenements to 43 private developers. These developers were required to pay one year of rent in advance, along with a three-month security deposit at the time of receiving the tenements. The audit findings stated, “Out of the 43 private developers, only three have settled their outstanding dues, leaving Rs 261.14 crore still owed by the remaining 40 developers as of March 2022.” Published…

IndustryLatest Stories

Bengaluru Property Owners Get Relief: B-Khatas Now A-Khatas

In a pivotal decision poised to support numerous property owners in Bengaluru, the Karnataka Cabinet has authorized the regularization of B-Khata properties verified by the Bruhat Bengaluru Mahanagara Palike (BBMP) up to September 30, 2024. These properties will now qualify for A-Khata status, providing much-needed legal clarity and enabling access to vital civic amenities such as electricity and water connections. The announcement was made on Thursday by Law Minister H.K. Patil after the cabinet meeting. He remarked, “This initiative aims to instill discipline in the city’s property development landscape and mitigate illegal constructions.” B-Khatas have historically created legal confusion. Initially…

IndustryLatest Stories

Godrej Properties COO and Mumbai CEO Resign

NEW DELHI: Godrej Properties has announced major leadership changes with the resignations of two senior executives: Vikas Singhal, the Chief Operating Officer, and Priyansh Kapoor, Zonal CEO of the Mumbai Metropolitan Region (MMR). As per the company’s regulatory filing, Kapoor’s resignation will take effect at the close of business on July 18, 2025, and he will be succeeded by Amitesh Shah, who will take on the role of Zonal CEO – MMR from July 19, 2025. Shah has been with the company since 2011 and most recently served as the regional head for MMR 1. Meanwhile, Singhal’s resignation as COO…

IndustryLatest Stories

Prayagraj Highrises to Face Mandatory Safety Audits

PRAYAGRAJ: New regulations are set to enhance the safety of high-rise buildings in the city, making structural safety audits mandatory. Under these guidelines, all buildings taller than 15 meters must undergo a safety audit 10 years after their completion, followed by audits every five years. This initiative comes in response to safety concerns and previous fire incidents in multiple high-rise structures in the area. In the last two decades, many tall buildings have been built in Prayagraj, yet most have never undergone formal safety assessments post-construction. Previously, only a single No Objection Certificate (NOC) from a structural engineer was required…

IndustryLatest Stories

Ludhiana Civic Body Overwhelmed by Property Tax Hike Queries

LUDHIANA: Following the announcement of a 5% increase in property tax, civic officials are fielding numerous inquiries from residents regarding potential new tax payments. The state government’s notification specifies that the revised rate will take effect from April 1. However, officials from the Municipal Corporation (MC) clarified that this increase has been in place since 2021 and is already being collected. This recent notification stems from a letter issued in 2021, allowing the state government to access additional borrowing from the central government under various schemes. The local bodies department’s letter indicates that, for ULBs (Urban Local Bodies) to qualify…

IndustryLatest Stories

Ashwin Sheth Group Buys 4.05 Acres in Goregaon West, Mumbai

NEW DELHI: Ashwin Sheth Group has secured development rights for a 4.05-acre site from Mhada and intends to launch a residential project in Siddharth Nagar, Goregaon West, Mumbai. The project, with a gross development value (GDV) of ₹3,800 crore, will comprise five towers, including four 44-floor towers and a distinctive 60-floor tower, along with dedicated retail space. The development will provide approximately 12 lakh sq ft of carpet area, featuring 2, 3, and 4-bedroom residences ranging from 800 to 1600 sq ft. Published On Jul 18, 2025 at 01:00 PM IST Join over 2M industry professionals. Subscribe to our newsletter…

IndustryLatest Stories

Sunteck Realty Q1 FY26 Profit Up 47% to ₹33.43 Crore

Sure! Here’s a rewritten version of the content: NEW DELHI: Sunteck Realty Ltd has announced a 47% increase in consolidated net profit, reaching ₹33.43 crore in the first quarter of the current fiscal year. In the same period last year, the net profit was ₹22.78 crore. However, total income decreased to ₹201.53 crore in the April-June quarter of 2025-26, down from ₹328.01 crore in the corresponding quarter of the previous year, as noted in a regulatory filing on Thursday. Sunteck Realty is recognized as one of the prominent real estate companies in India, having developed numerous projects in the Mumbai…

IndustryLatest Stories

Maharashtra Extends Nazul Land Amnesty Scheme for One Year

NAGPUR: The Maharashtra government has decided to extend its special amnesty scheme for nazul land leases for another year. This move comes after Nagpur Central MLA Pravin Datke emphasized the positive public feedback and significant revenue generation from the scheme. The extension was confirmed during a meeting led by Revenue Minister Chandrashekhar Bawankule at the state legislature on Thursday. Initially launched on March 16, 2024, the scheme enables residents in the Nagpur and Amravati regions to convert nazul land leases into permanent Class-1 ownership rights by paying only 2% of the current market rate, a decrease from the previous 5%.…

IndustryLatest Stories

Goa forms expert panel to examine illegal homes on private land

PANAJI: In response to growing concerns regarding unauthorized structures on comunidade land, the government has established a 10-member expert committee to investigate the inappropriate usage and illegal construction of residential houses on non-government land. The committee, led by additional collector Gurudas Desai as the member secretary, will assess the current usage of state land and recommend sustainable land management policies. “The revenue department is keen for experts to examine cases where residential homes have been built on non-government land without ownership rights and to propose relevant legal, policy, or administrative measures for granting ownership and legalizing such properties, considering eligibility…

IndustryLatest Stories

Godrej Properties Acquires 48 Acres in Bengaluru

Representative image NEW DELHI: Godrej Properties (GPL) has secured a 48-acre land parcel in Doddaballapur, North Bengaluru, via outright purchase. The planned development will mainly consist of plotted units, boasting a development potential of 1.1 million sq ft. Gaurav Pandey, MD & CEO of the company stated, “This investment emphasizes our aim to bolster our presence in crucial growth corridors with well-planned residential communities. Bengaluru remains a key market for us.” Additionally, the company recently acquired 50 acres of land in Raipur, set to include primarily plotted residential units with an estimated saleable area of 9.5 lakh sq ft. Published…