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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Brigade Group to Jointly Develop 8.63 Acres in East Bengaluru

Representative AI image NEW DELHI: Brigade Group has entered into a joint development agreement (JDA) for an 8.63-acre site in Gunjur, East Bengaluru. This is part of a larger 39-acre development primarily aimed at creating a substantial residential township, estimated to have a gross development value (GDV) of around ₹7,200 crore. The township’s overall land acquisition is being executed through a mix of outright purchases and joint development agreements, with the recent signing of the 8.63-acre JDA marking an important step forward for the larger master-planned project. BCV Developers, a subsidiary of Brigade Group, has signed a deal with Hyatt…

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Lucknow to Simplify Property Mutation Fees

LUCKNOW: A proposal from the Lucknow Municipal Corporation (LMC) to simplify mutation charges for the transfer and sale of residential and commercial properties aims to provide relief to owners. This proposal will be discussed in the LMC House meeting on Wednesday. Currently, mutation fees are set at high flat rates, typically around Rs 5,000 or 1% of the property value, particularly for ancestral property transfers. The existing system lacks clarity regarding the connection between mutation charges and property size or value. The new proposal suggests a straightforward slab-based structure. For property sales, charges will be determined by the property’s value,…

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19 Major Mumbai Slums to be Redeveloped Under New Scheme

MUMBAI: The Slum Rehabilitation Authority (SRA) is set to initiate 18 projects in Mumbai, including a 100-acre site in Andheri West near Gilbert Hill, under the state government’s newly launched slum cluster redevelopment scheme. Projects will target clusters of at least 50 acres where over 51% of the area is occupied by slums, including those in coastal regulation zones I and II. Under the scheme, redevelopment can include slums alongside non-slum areas, old and dilapidated buildings, tenant-occupied sites, vacant land unsuitable for construction, and selected private properties. The Andheri site currently contains approximately 14,000 huts and several residential buildings. SRA…

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Dharavi Redevelopment Accelerates: 11,000 Homes Planned

MUMBAI: The redevelopment of Dharavi, Asia’s largest slum, is gaining momentum as the Dharavi Redevelopment Project (DRP) has called upon residents of Sector-6, situated on a 35-acre railway land in Matunga, to cooperate with authorities and vacate their homes to facilitate construction of rehabilitation buildings. The initial phase aims to develop 11,000 tenements of 350 sq ft each in Dharavi’s Sector 6, which has been acquired from Indian Railways across multiple stages. This railway land is a vital part of the Dharavi Notified Area (DNA), originally planned to be mostly vacant and ready for construction. However, the presence of existing…

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Lucknow plans to transform low-rise buildings into high-rises

LUCKNOW: The Lucknow Development Authority (LDA) is planning to replace old low-rise buildings in residential schemes with modern high-rise apartments as part of the Uttar Pradesh Urban Redevelopment Policy-2026. LDA Vice-chairperson Prathamesh Kumar has instructed officials to develop detailed redevelopment proposals. The first phase will focus on residential blocks along Wazir Hasan Road in Hazratganj, and also includes schemes in Paper Mill Colony and Sector-G of the Kanpur Road Scheme. Officials noted that the Wazir Hasan Road complex, constructed in 1988, consists of four G+3 towers housing 64 flats. While most units are registered, a few remain unallotted or pending.…

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Waste Charges Delay Property Tax Payments in Bengaluru Apartments

BENGALURU: Large apartment complexes are typically quick to pay their annual property tax to the Greater Bengaluru Authority (GBA) when the payment portal opens in April. However, this year’s response in the first two weeks has been surprisingly slow. The confusion arises from unclear definitions and calculations surrounding bulk waste generators, hindering early tax payments. There is ongoing confusion about solid waste management (SWM) charges, especially for apartment complexes that produce over 100 kg of waste per day. Although bulk waste generators can qualify for exemptions, they must declare their status on the property tax portal, which is proving to…

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Jharkhand Housing Board Revokes Trade Licenses in Colonies

RANCHI: Following a recent Supreme Court ruling that requires municipal bodies across all states and Union Territories to assess residential properties being utilized for commercial purposes and submit affidavits by May 15, traders operating in Bariatu and Argora housing colonies are worried about their means of livelihood. Binay Lakra, secretary of the Jharkhand State Housing Board (JSHB), remarked, “These properties were assigned for residential use, meaning that commercial activities cannot be allowed. We have asked the Ranchi Municipal Corporation to revoke such trade licenses.” Bariatu Housing Colony consists of over 500 housing units. “These were allocated by JSHB under various…

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Puravankara’s Sales Soar 55% to ₹7,407 Crore in FY26

NEW DELHI: Puravankara reported a remarkable 190% year-on-year increase in sales, reaching ₹3,547 crore for the March quarter. This brings the company’s total sales for FY26 to ₹7,407 crore, a 55% rise compared to the previous fiscal year. Quarterly collections amounted to ₹1,213 crore, reflecting a 36% growth from last year, while total collections for FY26 rose by 15% to ₹4,258 crore. The company sold 7.25 million sq ft during the year, marking a 28% year-on-year increase, with average realization climbing 21% to ₹10,213 per sq ft. In the March quarter, realizations surged to ₹11,787 per sq ft. During FY26,…

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Patna Civic Body to Survey Properties to Boost Revenue and Curb Abuse

PATNA: The Patna Municipal Corporation (PMC) is launching a comprehensive survey to address the significant disparity between electricity connections and registered properties in the state capital. This initiative aims to identify unregistered properties, verify self-assessments, confirm actual occupancy status, and uncover misuse of residential properties for commercial activities. According to PMC officials, there are over five lakh electricity connections in Patna, yet only around 3.06 lakh properties are registered with the municipal body. Alarmed by this inconsistency, the urban development and housing department (UDHD) has directed a thorough survey across all sectors under PMC jurisdiction to validate these records. This…

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Goa: 18,000 sq meters in Bardez Converted to Settlement Zones

Representative image PANAJI: The Town and Country Planning (TCP) department continues to approve zone change proposals under Section 39A of the Town and Country Planning Act. Recently, the department greenlit the conversion of 18,629 sqm of land to settlement zones, mainly in Sircaim and Mandrem. The approvals reflect a significant concentration of land conversion activity in Bardez, with five of the six proposals located here, while Pernem holds the remaining site in Mandrem. The most extensive conversion was authorized in Sircaim, Bardez, where a developer received permission to change 5,410 sqm of orchard land to settlement. Additionally, the same applicant…