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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Nagpur: 260+ Properties Default on ₹442 Crore Tax

NAGPUR: The Nagpur Municipal Corporation (NMC) is facing significant challenges in securing funding for essential projects, now compounded by the revelation that 261 prime properties in the city have defaulted on property tax payments exceeding Rs 25 lakh each, with total arrears reaching a shocking Rs 442.34 crore. If NMC can recover even some of these dues, officials believe it could greatly benefit the Nag River Pollution Abatement Project. As per official records, the most substantial defaults occur in the Hanuman Nagar zone, where 21 properties collectively owe Rs 106.02 crore. This is closely followed by Lakadganj zone with 29…

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Nashik: Land Records Dept. to Hold ‘Bhumi Adalat’

NASHIK: The land records department will hold a ‘Bhumi Adalat’ on October 1 at the division level to resolve land disputes between complainants and respondents amicably. Mahesh Ingale, deputy director of the Nashik division’s land records department, stated that many people face issues related to mutation entries in land records and land measurements. “Over 350 cases have reached my office as the appellate authority, following challenges to earlier decisions from respective authorities. In most instances, the solutions are apparent, but the parties involved may not be aware,” he stated. Ingale emphasized that his team is working to counsel both parties…

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Sunteck Realty to unveil ₹20,000 crore luxury homes in Mumbai, Dubai

Representative image NEW DELHI: Sunteck Realty Ltd is venturing into the ultra-luxury housing market to address increasing demand. The company plans to unveil two new projects in Mumbai and Dubai by June next year, aiming for an estimated revenue of ₹20,000 crore. Sunteck Realty will launch these ultra-luxury residences under its exclusive brand ‘Emaance’, a blend of ‘Immense’ and ‘Indulgence’. “We are entering the ultra-luxury residential segment under Emaance, with costs starting at ₹100 crore per apartment,” said Kamal Khetan, CMD of Sunteck Realty, in an interview with PTI. The price of some units could reach as high as ₹500…

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Lucknow: New Commercial, Residential Plots in Basantkunj Scheme

LUCKNOW: The Lucknow Development Authority (LDA) is set to establish new commercial and residential plots as part of the Basantkunj scheme, targeting unplanned and vacant land located near green belts and residential zones. During an inspection of the Basantkunj project, Vice-chairman Prathmesh Kumar emphasized the need to accelerate ongoing development and beautification efforts. When examining Sector-I near Mango Park, authorities discovered illegal constructions on land (khasra number 591) in violation of enforcement regulations. The VC has ordered the suspension of the assistant engineer responsible for this oversight. Moreover, two supervisors, Jagrup Yadav and Suraj Kumar, were suspended for their negligence…

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Telangana to Amend Stamp and Registration Act

HYDERABAD: Property buyers at bank and financial institution auctions may soon need to pay stamp duty based on transaction value as the Telangana government considers significant changes to the Indian Stamp Act and the Registration Act, aimed at reducing revenue losses, according to officials. The government also plans to grant authority to the inspector general and commissioner of the registration and stamps department to annul fraudulent registrations, including double registrations. Proposed amendments are expected to be presented to the Telangana cabinet shortly. Officials indicate that many auction property buyers evade stamp duty by presenting a ‘sale certificate’—a document banks submit…

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Nashik: Land Records to Hold ‘Bhumi Adalat’ Event

NASHIK: The land records department is set to hold a ‘Bhumi Adalat’ on October 1 at the division level to amicably settle land disputes between complainants and respondents. Mahesh Ingale, the deputy director of the land records department for Nashik division, stated that issues often revolve around mutation entries or land measurements. “Over 350 cases have been brought to my attention as the appellate authority, where aggrieved parties have challenged earlier decisions. In many instances, the solutions are straightforward, but people remain unaware,” he remarked. Ingale’s team aims to counsel all involved to reach mutually beneficial outcomes. He noted that…

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Punjab Cabinet Approves Charges for Village Land Encroachments

CHANDIGARH: The Punjab cabinet has approved a proposal empowering the government to impose charges on illegally occupied land designated for village common roads and watercourses. Punjab Finance Minister Harpal Singh Cheema stated that many panchayat paths and watercourses have been encroached upon by real estate developers and individuals. “We will form price fixation committees, led by the relevant deputy commissioners, to collect payments from those currently occupying the land. Revenue generated will be shared between the local body or panchayat and the state government,” he added. An amendment to the Punjab Village Common Lands (Regulation) Rules, 1964, will facilitate this…

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UP Govt Restores Noida Plot to GPL Infrabuild, Extends Waiver

Representative image created by AI NOIDA: The UP government has revoked a 2022 decision by the Noida Authority to cancel the allotment of a plot in Sector 106 to a company, citing delays in handing over possession. Although the lease deed was signed in March 2017, the company could not secure possession or initiate construction due to a high-tension power line and tower that the Authority did not remove until September 2025. In its order, which may have implications for numerous similar disputes in Noida and Greater Noida, the state government emphasized that allotments cannot be canceled when vacant and…

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Real Estate Stocks Drop on Weak Demand Worries

MUMBAI: Real estate stocks experienced a decline on Wednesday, marking a third consecutive session of losses. Investors took profits amidst concerns over slowing demand. The realty index dropped by more than 2%, accumulating a total decline of 3.5% over the past three days, in contrast to a 1.1% dip in the benchmark Nifty. Out of the 10 stocks in the index, eight recorded losses on Wednesday. Godrej Properties fell by 4%, while DLF and Oberoi Realty decreased by 3.5% and 2.8%, respectively. Lodha Developers and Phoenix Mills each saw declines of over 2%. “Profit-taking in realty stocks follows last year’s…

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Nagpur First in State to Issue TDR Certificates for Encroached Land

NAGPUR: In a groundbreaking initiative in Maharashtra, the Nagpur Municipal Corporation (NMC) has commenced the distribution of Transferable Development Rights (TDR) certificates to original landowners whose properties have been encroached by slum residents. This initiative, spearheaded under Chief Minister Devendra Fadnavis, aims to address a long-standing conflict between landowners and encroachers. For years, private land plots in Nagpur were taken over by slum clusters, hindering landowners from developing their properties while residents lacked legal rights due to insufficient documentation. This state government scheme seeks to resolve both issues—landowners will receive TDR certificates that can be sold for financial compensation, while…