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

Maharashtra Cancels NA Tax for Urban Housing, Waives Dues

NAGPUR: The Maharashtra government has abolished the annual non-agricultural (NA) tax imposed on urban housing societies, providing relief to countless flat owners across the state. Revenue Minister Chandrashekhar Bawankule announced this decision in the Assembly during the Budget Session, following a query from legislator Bhimrao Tapkir. Bawankule stated that all overdue payments and arrears have been canceled. This applies to all urban residential properties, whether they are newly built or older structures. “The previously collected tax and outstanding dues have been scrapped, which will offer significant financial relief to housing societies and apartment owners,” he informed the Assembly. Tapkir highlighted…

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Over 75% Mihan PAPs Receive Developed Plots: Maharashtra CM

NAGPUR: On Wednesday, the state government updated the legislative council that the distribution of developed plots to eligible project-affected persons (PAPs) from the Mihan project in Nagpur district is ongoing, with over 75% having received their plots. In a written statement, Chief Minister Devendra Fadnavis revealed that more than Rs 100 crore has been disbursed to 2,048 out of 2,701 affected individuals as part of employment assistance. This information came in response to a question from MLCs Krupal Tumane, Manisha Kayande, and Hemant Patil, who noted that approximately 2,000 hectares of farmland in five villages across Nagpur and Hingna talukas…

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Modis Navnirman to Revamp Mumbai’s Residential Society

NEW DELHI: Modis Navnirman, based in Mumbai, has been appointed as the developer for the redevelopment of the New Chitra Co-operative Housing Society in Kandivali West. The existing 14-story structure, which was built over thirty years ago, will be completely demolished to make room for a new commercial and residential tower. The project occupies around 2,300 square meters and is projected to yield an estimated gross development value (GDV) of approximately ₹160 crore. In January 2026, Modis Navnirman was also selected to redevelop the BOI Staff Sheetal Co-operative Housing Society located at Ramnagar, S.V. Road, Borivali West. This redevelopment will…

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Godrej Properties Snags 11 Acres in Gurugram, 5 Acres in Kolkata

Representative AI image NEW DELHI: Godrej Properties (GPL) has secured 11.36 acres of land in Sector 63A, Gurugram, for residential development via an outright purchase. This venture is projected to generate an estimated revenue of over ₹4,500 crore, featuring a combination of premium low-rise and high-rise residences. Gaurav Pandey, Managing Director & CEO, stated, “With this new project, we have successfully added over ₹40,000 crore in future sales potential through portfolio expansions in FY26, achieving twice our business development target for the fiscal year.” In a separate initiative, the company also won a bid in an e-auction conducted by the…

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Noida: Paramount Developers Pays ₹106 Cr, Unlocks 135 Flats

NOIDA: Paramount Developers has paid over ₹106 crore to the Noida and Greater Noida authorities, settling dues on two housing projects and paving the way for the registration of 135 flats. This includes 35 flats in Paramount Emotions located in Greater Noida West and 100 in Paramount Floraville in Sector 137, Noida. As per the developer, approximately ₹26 crore was paid to the Greater Noida Authority, while ₹80 crore went to the Noida Authority, following a settlement framework established by the Uttar Pradesh government for distressed housing projects. Paramount Emotions, covering 11 acres, was launched in 2010 and includes 19…

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Ahmedabad body now permits development in Gokuldham agri zone

AHMEDABAD: Twelve years after the Ahmedabad Urban Development Authority (Auda) approved the layout for Gokuldham township, the authority’s chairman has been empowered to issue development and revised development permissions for the agricultural land within the township. A dispute surfaced in April 2014, resulting in a halt to these permissions. The township covers over 10 lakh square meters in Sanand taluka, adjacent to Ahmedabad city. On October 8, 2002, Auda authorized the comprehensive layout plan for Gokuldham, which spans more than 50 hectares of land under the General Development Control Regulations of that time. Permissible specifications included an FSI of 1.2,…

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Nagpur: Just 11.7% of ₹190 Crore Property Tax Dues Under Review

NAGPUR: Only 11.7% of the outstanding Rs190.33 crore in commercial property tax dues is currently under warrant action in Nagpur. Among 2,062 non-residential defaulters, warrants have been issued for just 359 properties — a mere 17.4% — highlighting a significant gap between potential revenue and actual enforcement. The data shows that most unpaid commercial property taxes involve high-value properties — those with dues exceeding Rs5 lakh. A total of 229 establishments have defaulted on a staggering Rs157.01 crore. However, warrants were issued against only 53 properties, totaling Rs16.70 crore, leaving 176 major defaulters — responsible for over Rs140 crore —…

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Haryana Budget: 100% Interest Waiver on Property Tax Until Mar 2025

CHANDIGARH: Haryana Chief Minister Nayab Singh Saini announced a complete waiver on outstanding interest on property tax up to March 31, 2025, as part of the 2026-27 budget. While presenting budget proposals in the State Assembly, Saini, who is also the finance minister, highlighted that over 41 lakh (41,70,749) property owners in urban areas have yet to pay their property tax along with the accrued interest. In another key announcement, Saini stated that residential properties will continue to be charged water fees at Rs 1 per kiloliter. Moving forward, metered residential properties covering up to 500 square yards will receive…

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Rajasthan Housing Board Revenue Tops ₹1,000 Crore; 2026 Launches Planned

JAIPUR: The Rajasthan Housing Board (RHB) has significantly increased its revenue in FY26, surpassing ₹1,000 crore, largely due to successful commercial auctions and enhanced asset monetization, as stated by commissioner Rashmi Sharma in an exclusive interview with Ankit Sharma. The autonomous body, primarily serving affordable and mid-income segments, is launching new residential schemes across Jaisalmer, Jodhpur, Alwar, the NCR region near Bhiwadi, and selected emerging towns in Rajasthan. The board is also exploring innovative development models, including potential private partnerships, to expand its capacity while ensuring affordability. Below are edited excerpts from the conversation: What was 2025 like for the…

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Big FM Ventures into Real Estate Market

NEW DELHI: Big FM, part of Reliance Broadcast Network, has ventured into the Indian real estate market with its new division, Big FM Realty. The company aims to achieve a revenue target of ₹3,500-₹4,000 crore over the next three years. It has acquired around 80 acres of land on the Lucknow-Bahraich Road in Bahraich, Uttar Pradesh. This mixed-use township development is expected to generate approximately ₹1,200 crore in revenue. Published On Mar 2, 2026 at 02:00 PM IST Join a community of over 2 million industry professionals. Subscribe to our newsletter for the latest insights and analysis delivered to your…