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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Uttar Pradesh Allocates ₹350 Crore for Fire Tenders in 11 Cities

LUCKNOW: The Uttar Pradesh housing department has allocated ₹350 crore for the purchase of advanced fire tenders with hydraulic platforms to enhance firefighting capabilities in high-rise buildings. This move addresses concerns from residents of multi-storey housing societies regarding fire response for upper floors. These funds will be distributed through housing development authorities and provided to the fire department for acquiring modern tenders in 11 rapidly developing cities: Ghaziabad, Lucknow, Agra, Meerut, Kanpur, Gorakhpur, Prayagraj, Varanasi, Bareilly, Moradabad, and Ayodhya. Officials indicate that the aim is to bolster equipment suitable for taller residential developments as urbanization increases across the state. Ghaziabad,…

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Delhi to Use DMA Act to Empower DMs Against Illegal Constructions

NEW DELHI: Chief Minister Rekha Gupta announced on Friday that the Delhi government will hold officials accountable for corruption, invoking the Disaster Management Act of 2005. This comes in the wake of a tragic fire that claimed 21 lives at a hotel in South Delhi, which was constructed with blatant disregard for safety regulations. The decision was made during a meeting Gupta held with various departments. “Officials who exhibit negligence or engage in corrupt practices will now face penalties under the Disaster Management Act, 2005. This includes potential imprisonment of up to two years and significant fines,” the chief minister…

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Truhome Finance, Veegaland Get Sebi Approval for IPO

NEW DELHI: Five companies, including Oyo’s parent company Prism, Warburg Pincus-backed Truhome Finance, and Veegaland Developers, have received approval from Sebi to launch their initial public offerings (IPOs), as reported by the capital market regulator on Friday. The other firms that gained approval from the Securities and Exchange Board of India (Sebi) are Advanta Enterprises, which focuses on agricultural solutions, and Mehta Hitech Industries. According to the update, Sebi provided its observations on the draft IPO documents from June 1 to June 5. These observations are crucial for companies to move forward with their public issues. The preliminary IPO papers…

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Registration Fees Rise in Hyderabad’s Key Growth Areas

HYDERABAD: The western corridor of the city, known for rapid real estate growth over the past decade, is facing a significant increase in property registration fees. From Friday, the Telangana state government’s updated land rates have been implemented, affecting both agricultural and non-agricultural land. The steepest increases were observed in the western areas, with surrounding neighborhoods seeing hikes of 25% to 75%. Several core city areas experienced less severe adjustments, with residential zones limited to a 25% rise. The most notable change occurred in Raidurg Panmaktha, where the price for one acre recently soared to Rs 237 crore. The registration…

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STT Global buys 3.5 acres in Navi Mumbai for ₹282 crore

Representative image Data centre operator STT Global Data Centres India has acquired a 3.48-acre industrial property in Navi Mumbai’s Mahape locality for ₹282 crore, driven by sustained demand for well-located sites to support digital infrastructure development. The company’s India division purchased this asset from Repro India, a Mumbai-based printing, publishing, and book distribution firm. The transaction was formalized on May 22, with stamp duty amounting to ₹2.56 crore. The property, situated in the MIDC-developed TTC Industrial Area at Khairane, comprises 3.48 acres of land and an existing built-up structure of 73,496 sq ft, according to documents obtained from CRE Matrix,…

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Developers to fund traffic jams they cause: Ahmedabad’s message

AHMEDABAD: Residents of Ahmedabad are all too familiar with the daily traffic scene. SG Road crawls at 7pm, Prahladnagar becomes congested on Monday afternoons, and cars obstruct sidewalks near tea stalls on Ashram Road. For years, traffic management has relied on quick fixes—cones, police officers, and complaints. Now, the Ahmedabad Municipal Corporation (AMC) is introducing a proactive approach: requiring developers to shoulder the costs of congestion before it even occurs. The new Comprehensive Traffic and Road Safety Policy is built around three main principles. First, “no large commercial development can move forward without a compulsory traffic impact assessment (TIA).” This…

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RBI Holds Repo Rate Steady at 5.25% Amid West Asia Crisis

MUMBAI: The Reserve Bank has maintained interest rates for the second consecutive time, primarily considering the effects of rising energy prices and supply chain disruptions arising from the West Asia crisis. This decision takes place amidst a protracted conflict in West Asia that has affected energy supplies, resulting in increased crude oil prices and putting fiscal and inflationary pressure on import-dependent nations like India. During the announcement of the second bi-monthly monetary policy for this fiscal year, RBI Governor Sanjay Malhotra stated that the Monetary Policy Committee (MPC) unanimously chose to keep the short-term lending rate, or repo rate, stable…

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GVMC Chief Accelerates LRS, TDR, and Building Approvals in Vizag

VISAKHAPATNAM: GVMC commissioner Ketan Garg has emphasized the need for town planning officials to prioritize the timely processing of building permissions, layout regularization scheme (LRS) applications, and transferable development rights (TDR) approvals. He warned that strict disciplinary action would be taken against those who delay official work or participate in corrupt practices. During a review of town planning efforts on Thursday with chief city planner A Prabhakara Rao and other officials, the commissioner expressed concern about delays in processing building permission applications from citizens. He noted that Town Planning officials were taking an excessive amount of time to address these…

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Village circle rates soar along Lucknow expressway corridor

LUCKNOW: The Uttar Pradesh government has revised the circle rates for agricultural and non-agricultural land in various villages of the Lucknow district, especially those near proposed expressways and rapidly developing road networks. The updated valuation list, released by the Lucknow district magistrate and effective from Thursday, is set to influence land transactions, stamp duty collections, and future real estate investments in the area. As per the official notice, circle rates have risen in many villages under the Mohanlalganj, Sarojininagar, Malihabad, Bakshi Ka Talab, and Sadar tehsils. This revision came after soliciting public feedback and suggestions before finalizing the rates. The…

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Andheri to Begin Mumbai’s First 100-Acre Slum Redevelopment

Representative Image MUMBAI: Three corporations are vying for Mumbai’s inaugural cluster Slum Rehabilitation Authority (SRA) project, covering 100 acres in Andheri (West). The Juhu Gulli SRA scheme encompasses 28,061 slum hutments, existing residential tenants, and owners, stretching from Juhu Galli (C D Barfiwala Road) to the rear of Hansraj Morarji Public School. Under this cluster initiative, slums can be integrated with dilapidated non-slum buildings, tenant-occupied structures, and vacant plots unsuitable for construction. For the first time, major corporations in real estate—Shapoorji Pallonji Real Estate, Reliance 4IR Realty Development Ltd, and JSW Realty & Infrastructure Pvt Ltd—are participating in an SRA…