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

Almost half of Bhubaneswar’s building violation cases pending

BHUBANESWAR: Approximately 50% of the 9,500 building plan violation cases under the Odisha Development Authority Act of 1982 are still unresolved across the city’s three zones. Bhubaneswar Municipal Corporation (BMC) officials indicated that these violations primarily involve construction without obtaining the necessary plan approval, not adhering to sanctioned building plans, encroachments, unauthorized extensions, and other structural deviations. Authorities noted that ODA cases are initiated either based on public complaints, during enforcement drives, or through random inspections conducted by the corporation. To expedite case resolutions, the pending cases are now allocated to the three zonal offices according to the location of…

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Godrej Properties’ FY26 Net Profit Soars 32.49%

NEW DELHI: Godrej Properties (GPL) has announced a significant net consolidated profit increase of 32.49% for the financial year 2025-26, totaling ₹1,840.66 crore, compared to ₹1,389.23 crore in FY25, as reported in a BSE filing. The company’s total consolidated income rose to ₹8,410.88 crore in FY26, reflecting a growth of 20.72% from ₹6,967.05 crore in FY25. In Q4 FY26, net consolidated income surged by 41.98% to ₹3,806.65 crore, up from ₹2,681.06 crore in the same quarter last year. The profit after tax in that quarter rose by 70.55%, reaching ₹645.44 crore compared to ₹378.44 crore in the previous year. Pirojsha…

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Pushback on Bengaluru’s Proposed Building Bylaw Amendments

BENGLALURU: The Bengaluru East City Corporation has released a draft notification proposing significant updates to the Bengaluru City Corporation Building Bye-laws, 2003. These updates include provisions to regularize specific construction deviations from approved plans through the payment of compounding fees. Published on April 1, 2026, under the Greater Bengaluru Governance Act, 2024, this draft amendment is open for public feedback for 30 days before final consideration. Key proposed changes include the removal of existing regulations regarding ground rent. Notably, the draft intends to modify Bye-law 6.0 to allow the Commissioner to regularize violations in sanctioned plans when demolition is unfeasible,…

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Mumbai’s Slum Skyscrapers: A Hidden Development Boom

MUMBAI: With the city unable to expand horizontally, Mumbai’s vast slums are evolving vertically. In areas like Govandi, Kurla, and Bandra East, traditional ground-plus-one shanties are giving way to ‘slum skyscrapers’ that reach five to seven stories, openly defying the 14-foot height limit. Civic activist Zoru Bathena, who resides in Juhu, points to areas close to Juhu Tara Road where shanties have transformed into four-story structures. Despite multiple complaints to local authorities, enforcement of regulations remains inconsistent. “The BMC intervened briefly, but construction resumed shortly after,” Bathena noted, emphasizing that while these slums have existed for years, their recent multi-story…

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Goa Construction Permits Granted on ‘Need-Based’ Basis: Minister

PANAJI: Following recent steps to freeze land in eco-sensitive areas, including riverbanks, the Goa government has opted to permit construction in developable areas on a “need-based” basis. During a press briefing in Panaji on Saturday, Goa’s Town and Country Planning (TCP) Minister, Vishwajit Rane, highlighted the state’s limited developable land due to ecological concerns. “Construction in no-development zones, as identified by the TCP and forest departments, will not be permitted,” he stated. Rane emphasized that future development permits would be based strictly on necessity. “Only after careful assessment will approvals be granted on a need-based basis. We will not allow…

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Union Government to Merge Construction Cess with Social Security

HUBBALLI: Shobha Karandlaje, Union Minister of State for Labour and Employment, has accused several state governments, including Karnataka, of misusing funds collected from the labour welfare cess for other purposes. Speaking at a Labour Day event in Hubballi organized by the Employees’ State Insurance Corporation, she announced that the Central Government plans to integrate this labour cess into a formal social security system. This aims to ensure that the funds are converted directly into pensions and ESIC healthcare benefits for construction workers. Karandlaje criticized some state governments for spending the welfare funds on unrelated activities, such as conducting health camps…

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Ludhiana Trust Aims for ₹197 Crore in Auction of Abandoned Site

Here’s a rewritten version of the content: LUDHIANA: Officials are optimistic about the commercial real estate market as they seek a buyer for a dilapidated multi-storey building that has remained vacant for 18 years. The Ludhiana Improvement Trust (LIT) has set a reserve price of ₹197 crore for this 2.2-acre property located on Rani Jhansi Road, marking a renewed effort to sell this long-neglected landmark in the city’s commercial district. A previous attempt in 2022 under a different administration failed, even after lowering the price to ₹154 crore. LIT Chairman Tarsem Bhinder has indicated that the government has approved the…

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Prayagraj launches OTS program for defaulters to clear dues

PRAYAGRAJ: The Prayagraj Development Authority (PDA) has introduced a significant relief measure for numerous allottees in its housing and plot schemes by launching the One-Time Settlement (OTS) scheme aimed at clearing long-standing dues. Officials report that 317 defaulters owe a total of approximately Rs 41 crore. These defaulters are individuals who acquired flats or plots but have not adhered to their payment instalments. As a result, interest has accumulated, with some cases seeing the compounded interest nearly matching the original property costs. In many instances, the plot registries were completed, but the freehold processes remained incomplete, which caused further delays…

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Gurugram County Revives Housing for 400 Buyers, ETRealty

NEW DELHI: NCR-based real estate developer County Group has taken over two stalled housing projects in Gurgaon, providing relief to approximately 400 homebuyers who have faced delays of over ten years. This acquisition will provide the developer with roughly 2.6 million square feet of saleable space, projecting potential revenues of Rs 4,000 crore. The group secured Ashiana Landcraft through the National Company Law Tribunal (NCLT). This project involves a 14-acre residential development along the Dwarka Expressway in Gurgaon. “Around seven acres of this project were partially developed, leaving 326 homebuyers stranded since 2014. We revamped the existing buildings and common…

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Ramky Estates Revives Skylark Projects in Bengaluru with ₹600 Cr Funding

Sure! Here’s a rewritten version of the content: NEW DELHI: Ramky Estates & Farms has acquired stalled residential projects totaling approximately 4.3 million sq ft in Bengaluru from Skylark Builders. The developments, situated in prominent areas such as Electronic City and Whitefield, are projected to generate around ₹2,000 crore in revenue, with an estimated remaining completion cost of ₹1,500 crore. To facilitate the execution of these projects, the developer has secured ₹600 crore in funding from the government-supported Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund. The projects have been rebranded as ‘Ramky Lumina’ in Electronic City and ‘Ramky…