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

GDA Hikes Fees: Builders Warn Buyers Will Suffer

GHAZIABAD: Following directives from the state government, the Ghaziabad Development Authority (GDA) has announced an increase in various fees. Effective from April 1, there will be an average increase of 4% in development fees, building permit charges, and mandatory inspection fees for this financial year. The GDA stated that these revisions are in line with the cost index and part of its annual review; however, developers have expressed concerns that the overall financial burden will inevitably be passed on to homebuyers. The most significant impact will be felt by developers, who incur these charges at various stages of a project.…

IndustryLatest Stories

Chandigarh Estate Office Shortlists 25 Properties for Auction

CHANDIGARH: In a bid to achieve ambitious revenue goals, the estate office plans to conduct regular property auctions, having shortlisted approximately 25 properties for this financial year. Most of these properties will be residential and sold on a freehold basis. A variety of properties, including residential, commercial, and institutional types, will be auctioned by the end of April. The estate office is ensuring that these properties are free of encumbrances, meaning they will have clear and marketable titles without any mortgages, liens, or legal disputes, ensuring no third-party financial or legal claims are attached. The goal for the estate office…

IndustryLatest Stories

RPS Group to invest ₹110 crore in Bahadurgarh township

Representative image NEW DELHI: RPS Group plans to invest Rs 110 crore in their plotting project, RPS Azalea, located in Sector 29, Bahadurgarh. The project covers 19.79 acres under the Deen Dayal Jan Awas Yojana (DDJAY), with plot sizes ranging from 125 to 180 sq. yards. Construction will commence immediately, with a delivery target set for 2027. Additionally, RPS Group is developing a 2-acre clubhouse featuring premium amenities. “We believe Bahadurgarh is emerging as a significant growth destination. With Azalea, our goal is to create a community that meets the needs of modern homeowners while positively impacting the city’s development,”…

IndustryLatest Stories

Noida Authority Faces Corruption with Land Payouts

NOIDA: Allegations from farmers, raised in the Supreme Court, suggest that Noida Authority officials demanded a 10% cut from the excess compensation funds they received, placing the agency’s operations back under judicial scrutiny. Noida Authority’s reputation has suffered significantly due to recurring corruption scandals. Notable cases include the conviction of former CEO Neera Yadav for favoring her family in land allotments and the extensive fraudulent maintenance contracts involving former chief engineer Yadav Singh. The Comptroller and Auditor General has revealed numerous irregularities, and the Supertech twin towers case drew sharp criticism from the Supreme Court, consistently bringing issues of corruption…

IndustryLatest Stories

New FY27 Circle Rates Effective in Gurugram

GURUGRAM: Starting Thursday, new circle rates for residential, commercial, and agricultural properties are now in effect. Property transactions will adhere to these updated rates from Friday onward. The revised rates have seen an increase of 15% to 30%, with some areas experiencing hikes up to 75%, as reported by officials. Gurgaon Deputy Commissioner Ajay Kumar noted that the revision of circle rates was based on current market rates, development speed, and infrastructure availability in the respective areas. “Approximately 51% of various tehsil areas in the district will see no changes in circle rates. Conversely, around 11% of rapidly developing areas…

IndustryLatest Stories

Noida Authority to Discuss New Mixed-Use Property Plan Soon

Representative AI image NOIDA: The Noida Authority’s board will convene next week to review its budget and consider approval for several key projects, including a proposed Centre of Excellence at Gautam Buddha University (GBU). Additionally, a mixed land-use property scheme will be up for discussion. During the meeting, the Authority plans to finalize the numbers, sizes, and rates for the mixed land-use plots. Last year, the Noida Authority raised allotment rates by 6% across all categories, including residential, commercial, industrial, and institutional, and approved a budget of Rs 8,732 crore. A similar increase in land rates and budget is expected…

IndustryLatest Stories

Bengaluru may allow 15% deviation from building plans

BENGALURU: In a significant move for property owners struggling to secure occupancy certificates due to minor deviations, the Greater Bengaluru Authority (GBA) is set to increase the permissible deviation from sanctioned building plans from 5% to 15%. The GBA’s draft notification proposes an amendment to the 2003 building bye-laws, suggesting a notable shift in urban regulatory policy. Enforcement actions, including potential demolition, will continue for deviations exceeding 15%. Stakeholders can submit objections and suggestions until April 30, after which the amendments will be finalized. Under current regulations, any construction surpassing the approved plan by more than 5% is deemed unauthorized,…

IndustryLatest Stories

Goa Minister Halts All Projects by Prabhu Realtors

PANAJI: Health Minister Vishwajit Rane has instructed the Town and Country Planning (TCP) department to suspend all approvals for real estate developments initiated by Prabhu Realtors. He stated that no files submitted by Amit Prabhu, a business partner with Prabhu Realtors, will be processed until the water contamination and other issues at the Prabhu Violetta housing complex in Chicalim are addressed. “I have already mandated that all projects pertaining to Amit Prabhu be put on hold. He is currently untraceable, and I have been approached by concerned individuals. It is his duty to rectify these issues, and until he does…

IndustryLatest Stories

Raymond Realty Q4 FY26 Pre-Sales Surge to ₹1,519 Crore

NEW DELHI: Raymond Realty Ltd announced on Thursday that its sales bookings surged more than two-fold to Rs 1,519 crore for the quarter ending in March, driven by increased demand for residential properties. In comparison, sales bookings were Rs 636 crore during the same period last year. According to a regulatory filing, the company’s pre-sales for the entire fiscal year 2025-26 climbed 31% to Rs 3,023 crore, up from Rs 2,314 crore in the previous year. Raymond Realty has a robust pipeline of upcoming projects with a total revenue potential of Rs 43,000 crore across the Mumbai Metropolitan Region (MMR),…

IndustryLatest Stories

Marathon Nextgen Realty buys majority stake in 3 firms for ₹70 crore

NEW DELHI: Marathon Nextgen Realty has secured a 51% controlling stake in three real estate firms via its fully-owned subsidiary, Nexzone IT Infrastructures. The company invested approximately ₹70 crore to acquire stakes in DVK Developers (₹22.47 crore), Shree S S Developers (₹40.26 crore), and Shree Swami Samarth Builders (₹7.25 crore). The three firms together manage six residential projects with a total development potential of around 5.94 lakh sq ft, translating to an estimated gross development value (GDV) exceeding ₹840 crore. Approximately 35% of these projects are already under construction or set to launch within the next twelve months. Notably, around…