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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Union Home Minister Leads Meeting on Delhi Master Plan 2041

NEW DELHI: On Tuesday, Union Home Minister Amit Shah led a high-level meeting to assess the Delhi Master Plan 2041 (MPD-2041), which included key figures such as Delhi Chief Minister Rekha Gupta and Union Minister Manohar Lal Khattar. Also present was Delhi’s Home and Urban Development Minister Ashish Sood, and this meeting follows a review session held the previous day at the Delhi Secretariat focused on the MPD-2041’s provisions. The Delhi Development Authority (DDA) submitted a draft of the master plan to the Union Ministry of Housing and Urban Affairs in April 2023. The plan is currently pending final approval.…

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PropShare Titania SM REIT Files ₹473 Crore Offer

NEW DELHI: Property Share Investment Trust (SM REIT) has submitted crucial information regarding their second scheme, PropShare Titania, aggregating up to ₹473 crore. The bidding period will commence on July 21, 2025, and conclude on July 25, 2025. The price range for each Titania unit is set between ₹10 lakh and ₹10.6 lakh. Investors can bid for a minimum of one Titania unit, with subsequent bids in multiples of one unit, at a minimum investment of ₹10,00,000. The IPO consists solely of a fresh issue of Titania units, with no component for sale. Property Share will contribute a minimum of…

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Karnataka Urban Development: Hope for B Khata Property Owners

BENGALURU: Good news for B khata property owners awaiting building plans, Cauvery water connections, and electricity supply. Dr. Rajendra Prasad, the Deputy Chief Minister’s personal secretary, has reached out to the Additional Chief Secretary of the Urban Development Department to address the concerns of over 150,000 property owners affected by the Supreme Court’s ruling on illegal constructions. This initiative stems from a letter by former BJP Bengaluru South president NR Ramesh. He highlighted, “Most buildings are constructed on B khata properties. In the interest of property owners, a plan should be devised to sanction building plans for these properties, possibly…

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Oberoi Realty Consortium Secures Hotel Horizon for ₹919 Crore

NEW DELHI: Oberoi Realty, in collaboration with Shree Naman Developers and JM Financial Properties and Holdings, has been chosen as the successful bidder for Hotel Horizon (HHPL), a company currently undergoing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC), 2016. The committee of creditors (CoC) has issued a letter of intent (LoI) approving the consortium’s resolution plan. According to the plan, the consortium will make a payment of ₹919 crore to HHPL’s creditors as a full and final settlement, including the costs associated with the Corporate Insolvency Resolution Process (CIRP). Founded in 2004, HHPL owns a sea-facing land parcel…

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Maharashtra panel suggests 10% extra area for self-redevelopment

MUMBAI: A government-appointed committee has proposed a 10% increase in carpet area for residents of housing societies who choose the self-redevelopment scheme, aiming to encourage self-redevelopment. Self-redevelopment allows residents to manage the construction of their own buildings without a builder, retaining all construction benefits and profits that would normally go to developers. On Monday, BJP MLC Pravin Darekar submitted the committee’s report to Chief Minister Devendra Fadnavis at a function in Vidhan Bhavan. The recommendations will be passed on to the departments of housing, cooperatives, and urban development. “The proposal will be endorsed by the cabinet based on departmental suggestions.…

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Civic Body Gets 49,000 Feedback on Revised Development Plan

PUNE: The Pimpri Chinchwad Municipal Corporation (PCMC) has wrapped up the period for public feedback on its draft revised development plan. “We received 49,000 suggestions and objections from residents,” reported Prasad Gaikwad, deputy director of PCMC’s town planning department, to TOI. He further noted that a committee of civic officials and external experts will be assembled to review the submissions before finalizing the draft, which will be sent to the state government for approval. The draft was initially approved during a standing committee meeting led by municipal commissioner Shekhar Singh on May 16. In accordance with regulations, the draft was…

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Elan Group Secures ₹250 Crore from Piramal Finance

Gurgaon-based developer Elan Group has secured ₹250 crore from Piramal Finance for a commercial project in the city, as reported by sources familiar with the matter. This financing follows a ₹1,200 crore funding from Kotak Real Estate Fund last year, and the company aims to expedite its projects in the area. In 2022, Elan Group raised $110 million (approximately ₹900 crore) from global alternative investment firm PAG. “The funding is designated for a commercial project covering one million sq ft in Gurgaon,” stated one of the sources. Elan Group opted not to comment, and transaction advisor CBRE was unavailable for…

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Delhi Master Plan 2041 Might Go Back to the Drawing Board

NEW DELHI: Is the draft Master Plan for Delhi 2041 going back for revisions? Over two years after the Delhi Development Authority (DDA) submitted the draft for notification and implementation—only for it to be sidelined—the discussion around Master Plan 2041 has reignited. On Monday, the Delhi government convened a private meeting to evaluate various elements of this critical document that outlines the future of urban development and infrastructure in the capital. Sources indicate that DDA presented a comprehensive overview of the draft to Chief Minister Rekha Gupta, her cabinet, and senior officials of the Delhi government. Further discussions are anticipated…

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Maharashtra: No tolerance for illegal constructions, warns deputy CM

MUMBAI: Deputy Chief Minister Eknath Shinde stated in the legislative assembly on Monday that the Maharashtra government will not endorse any illegal constructions and will impose strict penalties on officials found complicit in permitting such structures. Responding to a question from Parag Alavani (BJP) during the Question Hour, Shinde announced that instructions will be given to the Brihanmumbai Municipal Corporation (BMC) commissioner to compile a detailed inventory and categorization of illegal constructions in Mumbai. “Any officer found protecting illegal constructions will face strict action,” warned Shinde, who oversees urban development and housing. Members including Yogesh Sagar, Jitendra Awhad, Dilip Walse…

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Two Unsafe Margao Buildings to Be Demolished After Delay

After significant delays and legal hurdles, the demolition of the unsafe ‘Cabecca de Calconde’ building in Margao is on the horizon. This follows an order from the collector due to public safety concerns. The Public Works Department (PWD) has identified potential agencies for the demolition, which awaits the final evacuation of occupants and the resolution of a high court issue. However, there are ongoing concerns regarding potential redevelopment plans once the demolition is completed.