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

Centre to Eliminate One-Year Jail for Realty Norm Violations

NEW DELHI: In a significant development for homebuyers, the Centre has proposed the removal of the existing penalty of up to one year of imprisonment for allottees who do not comply with orders from the Real Estate Appellate Tribunal. The proposed amendment aims to revise Section 68 of the Real Estate (Regulation and Development) Act, 2016, stating that defaulters could face a financial penalty of up to ten percent of the property cost, which includes plots, apartments, or buildings. This change is part of the Jan Vishwas (Amendment of Provisions) Bill, 2026, recently introduced in the Lok Sabha by Minister…

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Prestige and Arihant Groups Acquire Land in Padi, Chennai

Representative Image NEW DELHI: Prestige Group and Arihant Group have acquired a 16.331-acre land parcel in Padi, Chennai. The acquisition is being handled through Canopy Living LLP, a joint venture between Prestige Estates Projects and Arihant Foundations and Housing. The land is planned for a residential project with a total saleable area of approximately 3.6 million sq ft and an estimated revenue potential of around ₹5,000 crore. Irfan Razack, Chairman and Managing Director, stated, “We remain focused on expanding our presence in the city through well-located, high-quality developments.” Published On Mar 27, 2026, at 06:56 AM IST Join over 2…

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Lucknow to Launch OTS Scheme and Help Desk for Defaulters

LUCKNOW: The Lucknow Development Authority (LDA) will introduce its one-time settlement (OTS) scheme starting April 18 and will establish a dedicated help desk for applicants. This decision was made during a review meeting led by LDA vice-chairperson Prathamesh Kumar on Wednesday. A special OTS help desk will be available at the single-window counter on the ground floor of LDA headquarters. It will provide detailed information, guide applicants regarding eligibility, and help them complete the online application process. Under this scheme, applications will be resolved within three months of submission. Beneficiaries will receive a complete waiver of penal interest for the…

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Maharashtra Decentralises Land Regularisation to Collectors

NAGPUR: On Wednesday, the Maharashtra legislature unanimously approved the Maharashtra Land Revenue Code (Second Amendment) Bill, 2026. This new legislation empowers district-level authorities to regularize most cases of land-use breaches. Introduced by Revenue Minister Chandrashekhar Bawankule, this amendment transitions from a centralized approach to a decentralized one, allowing collectors and divisional commissioners to manage nearly 90% of these cases at the local level. The change is anticipated to alleviate backlog, reduce bureaucratic hold-ups, and improve citizen access to administrative solutions. “Previously, even minor breaches were sent to the Mantralaya, overloading the secretariat and obligating citizens to make numerous trips to…

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Chandigarh Faces Dilemma: Land Pooling vs. Acquisition Policy

Here’s a rewritten version of the provided content: CHANDIGARH: The Chandigarh administration finds itself in a complex situation, balancing increasing pressure from the Centre to optimize limited urban land with ongoing demands from farmers and internal planning challenges regarding the future development of the UT’s remaining peripheral villages. On one hand, there’s a push for farmer-friendly initiatives; on the other, financial constraints and a commitment to the Chandigarh Master Plan-2031 are urging a return to traditional outright land acquisition methods. Large swathes of agricultural land near 22 periphery villages remain undeveloped. Land pooling, once viewed as a collaborative alternative, has…

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Puravankara to Launch 30 Projects Worth ₹55,000 Crore Soon

NEW DELHI: Puravankara is set to unveil 30 residential projects in the next 24 months across South India and Mumbai, aiming for a gross development value (GDV) exceeding ₹55,000 crore. The forthcoming pipeline encompasses around 51.14 million sq ft of developable space. Most projects are currently in the approval phase, while others are still in design, with approvals expected to commence shortly. This expansion occurs amidst consistent demand in the residential market. For the first three quarters of FY26, the company reported pre-sales of ₹3,859 crore and customer collections totaling ₹3,045 crore. Ashish Puravankara, the managing director, remarked, “As we…

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UltraTech Cement Resolves JAL Dispute, Redeems ₹1,000 Crore Shares

UltraTech Cement has reached a resolution with Jaiprakash Associates (JAL) regarding a long-standing arbitration issue, agreeing to redeem ₹1,000 crore in preference shares associated with the Dalla Super cement facility, according to sources familiar with the matter. This agreement paves the way for monetizing Jaypee assets following a bankruptcy court’s recent approval for the Adani Group to take control of JAL. The Adani Group has proposed to pay ₹14,535 crore to acquire the bankrupt JAL in the insolvency process, although the group has not yet completed payments to creditors. The settlement with UltraTech’s flagship cement division is expected to lessen…

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Haryana Approves Mixed Land Use Policy, Unlocks Pending Projects

Representative Image CHANDIGARH: On Tuesday, the Haryana cabinet approved a new policy to regulate the use of land designated for mixed-use in development plans, facilitating projects that were previously on hold due to unclear guidelines. Mixed-use zones permit a blend of residential, commercial, institutional, and occasionally industrial activities. However, the lack of specific usage ratios had hindered approvals. According to the new policy, residential, commercial, and institutional activities will be allowed without a fixed percentage limit, provided they adhere to zoning and planning regulations. Industrial usage, where already authorized, will remain capped at current levels, prohibiting further expansion. However, landowners…

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16,000 Old Properties in Nashik Redeveloped in 7 Years

NASHIK: Redevelopment in Nashik has gained significant traction over the past few years, with more than 16,000 old properties demolished and redeveloped in just seven years, according to data from the Nashik Municipal Corporation (NMC). According to NMC, a total of 29,222 properties have been redeveloped in the last two decades. The last seven years alone saw 16,000 older properties being modernized, reflecting a notable upsurge in construction activities as both residents and developers choose to replace outdated structures with new ones, featuring advanced amenities. An annual average of about 2,500 structures, mainly old houses, bungalows, and small residential buildings,…

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UP: UPSIDA Greenlights 8 New Warehousing, Logistics Projects

Representative AI image LUCKNOW: The Uttar Pradesh State Industrial Development Authority (UPSIDA) has given the green light to eight new projects in the warehousing and logistics sector, with a total investment of approximately Rs 800 crore, as stated by an official spokesperson on Monday. “These approvals, under the Uttar Pradesh Warehousing and Logistics Policy-2022, demonstrate increasing investor confidence in the sector, fueled by incentives, financial aid, and tax exemptions for establishing logistics and storage facilities on private land,” the spokesperson mentioned. The newly approved projects comprise five silos, two warehousing units, and one logistics project, which will be situated in…