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

Delhi circle rates to be updated for property market trends

NEW DELHI: The Rekha Gupta government is undertaking a thorough revision of circle rates across all property categories, ranging from A to H. This marks the first organized recalibration in years to align notified rates with current market trends. While premium colonies are set to experience a modest increase, there are steeper hikes proposed for mid- and lower-segment areas, where officials report that actual market transactions often exceed existing circle rates, based on an internal government report. Areas like Prithviraj Road, Jor Bagh, and Sundar Nagar are reportedly experiencing market values of at least Rs 18-22 lakh per square metre,…

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Uttar Pradesh to Use Vacant Society Spaces in Redevelopment Plan

LUCKNOW: Residents of Lucknow and other significant cities may join forces to redevelop existing housing societies. Following the example set by metro cities, a new redevelopment policy launched by the state government allows for the utilization of additional space in residential layouts to create larger units. If two-thirds or more apartment owners in a layout exceeding 1,500 sq mt (16,146 sq ft) consent, redevelopment efforts can commence to construct improved apartments. To support the project’s financial viability and attract private developers, various incentives will be available. The local housing development authority will provide a 50% rebate on development charges, an…

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Vadodara Civic Body Lacks Rental Records Before 1983

VADODARA: The Vadodara Municipal Corporation (VMC) is facing ongoing issues with the frequent disappearance of old documents related to the properties it has rented out across the city. The VMC is currently owed approximately Rs 12 crore from various rental agreements, including shops, cabins, handcarts, and temporary sheds. It keeps a register to track all properties that have been rented out. Unfortunately, it appears that many of the rent records maintained over the years are the only documentation available for numerous properties. In total, there are 2,737 such rental agreements on file. A VMC official noted that many of these…

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Commercial Plots for Project-Affected Farmers in New Nagpur

Representative AI image NAGPUR: Maharashtra’s Revenue Minister Chandrashekhar Bawankule introduced a “historic” package for the New Nagpur initiative on Friday. He stated that landowners affected by acquisitions would now receive commercial plots alongside monetary compensation, as the government began gathering eligibility lists for a potential farm loan waiver. During a media briefing in Nagpur, Bawankule highlighted that the updated package represents a significant shift from the previous policy, which only provided financial compensation. Under the new framework, farmers in commercial zones will also receive developed plots, reinforcing support for the project and expediting the city’s growth. Additionally, the state launched…

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Davanagere District Grants Land Titles to 12,000 Residents

DAVANAGERE: Deputy Commissioner GM Gangadharaswamy announced that 298 residential areas in Davanagere district have been designated as revenue villages, with title deeds distributed to 12,000 individuals at a ceremony in Haveri. In a Thursday press conference, he stated that Davanagere ranks second among districts in title deed issuance. He noted that some beneficiaries have not yet received their deeds, emphasizing the March 15 deadline. For those who haven’t subdivided their government-approved land, a non-disposal file process has begun. “We’ve disposed of files for 4,000 individuals and issued records, while 10,000 files remain pending; these individuals should contact the tahsildar’s office,”…

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Isprava Buys 2 Acres in South Goa for Luxury Homes

Representative image MUMBAI: Luxury second-home developer Isprava has acquired over 2 acres in Verna, South Goa, with plans to invest approximately ₹85 crore in an ultra-luxury residential project, responding to the growing demand for low-density holiday homes beyond North Goa. The Mumbai-based firm, backed by notable investors including Dabur’s Burman family, Nadir Godrej, and Anand Piramal’s family offices, aims to create a limited number of residences on the newly acquired land through its investment vehicles. The planned investment includes costs for both land acquisition and development. “The timing to enter South Goa is ideal. North Goa has matured significantly over…

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Nashik: NMC Requires 50:50 Premium FSI & TDR for Faster Land Deals

NASHIK: The local municipality has mandated developers to utilize premium floor space index (FSI) and transfer of development rights (TDR) in an equal 50:50 ratio for all construction projects under the 2020 Development Control and Promotion Regulations. This initiative aims to revitalize the declining demand for TDR while ensuring fair compensation for landowners. The directive was issued by municipal commissioner Manisha Khatri. The move comes in response to a drop in TDR rates in recent years, leading to disappointment among landowners and hindering the acquisition of land designated for public amenities in the city’s development blueprint. Under the TDR system,…

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CREDAI urges Karnataka government to resolve tech issues

MYSURU: The Confederation of Real Estate Developers’ Associations of India (CREDAI) is calling on the state government to address technical issues in government offices without delay. CREDAI President Harish Shenoy MS stated that citizens are experiencing difficulties in obtaining e-khata due to frequent server outages and software malfunctions. These technical issues are affecting not only developers but also property owners. The organization urged the government to resolve these technical challenges promptly and establish a timeline for e-khata issuance. Additionally, the new requirement for a life certificate for each transaction when registering a General Power of Attorney (GPA) has become a…

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HMT Land Bank Could Be Monetized for AI Clusters

Representative AI image NEW DELHI: India is strategizing to monetize the land bank of the troubled public sector undertaking (PSU) HMT Ltd by establishing artificial intelligence clusters. Insiders report that HMT boasts the second-largest land bank in the country, following Indian Railways. At its peak, HMT owned nearly 1,800 acres; currently, around 1,100 acres remain in Hyderabad (Telangana), Bengaluru (Karnataka), Pinjore (Haryana), and Kalamassery (Kerala). These lands were ‘gifted’ to HMT by state governments over time, with the expectation of industrial development. However, much of this land remains vacant or encroached upon, leading to disputes with states seeking reclamation. “Investment…

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Andhra Pradesh Cuts Vacant Land Tax by 50% During Building

AMARAVATI: The Andhra Pradesh Assembly approved amendments to the Municipal Act on Wednesday to reduce financial burdens on builders and enhance transparency in construction procedures. The first amendment permits builders to pay only 50% of the vacant land tax during the construction period, effective from when building permission is granted until the Occupancy Certificate is issued. The second amendment removes “leprosy” from municipal terminology. The assembly also sanctioned an amendment allowing builders to pay just 50% of the vacant land tax during the construction phase. Minister Narayana emphasized that these changes were aimed at promoting Ease of Doing Business, encouraging…