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

Ghaziabad Body Lowers Interest Rates on Properties

GHAZIABAD: The Ghaziabad Development Authority (GDA) has reduced the interest rate on its properties from 10.7% to 8.7%, aligning it with the State Bank of India’s current rate as mandated by the state government. The rates will be subject to change in tandem with SBI’s adjustments. If SBI alters its interest rates, the GDA will likewise make necessary changes. This rate had been unchanged at 10.7% for the past seven years (since 2018). “Discussions regarding the interest rates charged by development authorities across the state were held, where it was emphasized that rates should be aligned with SBI. Why impose…

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Builders seek EDC relief, urge Haryana for affordable housing boost

NEW DELHI: Real estate developers in Haryana have put forth a comprehensive set of policy recommendations to the state government, aiming for immediate regulatory, fiscal, and infrastructure reforms to revive stalled projects, reduce compliance burdens, enhance housing affordability, and accelerate urban development. Developers are requesting an extension of relief measures under the one-time settlement scheme for outstanding license renewal fees and the ‘Samadhan Se Vikas’ policy for EDC recovery. They are also advocating for the removal of the condition that halts project approvals at a group level when EDC dues exceed ₹20 crore. The industry argues that this blanket application…

IndustryLatest Stories

Punjab Slashes Reserve Prices by 22% for Gmada Properties

MOHALI: In a significant move to monetize stalled public assets and rekindle buyer interest, the Punjab government has sanctioned a notable reduction in the reserve prices for properties listed by the Greater Mohali Area Development Authority (Gmada) that have failed to attract buyers over the years. The new policy indicates an average drop of 22% in the reserve prices for these unsold properties, a change anticipated to generate revenues between Rs 5,000 crore and Rs 10,000 crore. The announcement, made by Finance Minister Harpal Singh Cheema, followed the establishment of a committee tasked with evaluating government-owned properties that remained unsold…

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Noida Authority Extends Rehab Lifeline for Builders with Dues

NOIDA: The Noida Authority has decided to continue the Uttar Pradesh government’s rehabilitation policy for stalled real estate projects, extending its benefits to developers who have not yet paid the required 25% of their recalculated dues. This move brings fresh hope to thousands of homebuyers awaiting the completion and registration of their flats. Initially, the Authority planned to withdraw benefits from non-compliant developers, but reversed its decision during a board meeting on January 3. They opted to maintain the state government’s directive from December 2023 aimed at reviving legacy stalled projects. Authority CEO Lokesh M stated that while the policy…

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2025: Soften End-User Demand Amid Rising Prices, Says Parveen Jain

NEW DELHI: India’s residential real estate sector is currently experiencing a price-driven consolidation phase following a robust rebound post-pandemic. While sales activity remains steady, significant increases in land and construction costs, particularly in key markets like Gurugram, are beginning to impact affordability and buyer decisions. Developers are reevaluating their product offerings, anticipating a gradual shift back to mid-segment housing as luxury demand stabilizes, coupled with discussions around policy measures aimed at enhancing affordability. In an exclusive discussion with Ankit Sharma, Parveen Jain, President of Naredco National, elaborates on how soaring land prices and escalating construction costs have altered housing economics,…

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Property Share files for ₹244 crore IPO of third SM REIT

Illustrative NEW DELHI: Property Share Investment Trust, the first registered Small and Medium Real Estate Investment Trust (SM REIT) in the country, has submitted the draft IPO documents for its third scheme, PropShare Celestia, aiming for an issue size of up to Rs 244.65 crore. The public offering will consist solely of a fresh issue of units, with no components for sale, according to the documents. The underlying asset, Project Celestia, boasts a super built-up area of 2,07,838 sq ft and is fully leased. The property features four main tenants, which include three managed office providers: Smartworks Coworking Spaces, EFC…

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ASK Property Fund Invests ₹340 Cr in Mantra Group Projects

NEW DELHI: ASK Property Fund, the real estate division of ASK Asset & Wealth Management Group, has invested ₹340 crore in three residential projects led by Mantra Group. Amit Bhagat, co-founder, CEO & MD of ASK Property Fund, commented, “We are committed to providing growth capital for land acquisition associated with residential projects requiring approvals and financial closure of up to ₹500 crore.” This investment is intended to assist Mantra Group in acquiring two projects through the National Company Law Tribunal (NCLT) process, while also supporting an ongoing residential project. Rohit Gupta, CEO of Mantra Properties, stated, “In the Mumbai…

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Bhumika Realty Secures ₹170 Crore for Faridabad Project

NEW DELHI: Bhumika Realty has secured ₹170 crore from the joint real estate credit platform of Aditya Birla Sun Life AMC and BGO for its mixed-use project in Faridabad. The funds will be allocated towards construction expenses, advancing development efforts, and covering working capital needs. Cushman & Wakefield served as the transaction advisor for this deal. In June 2022, Aditya Birla Sun Life AMC and BGO announced their partnership to create a structured credit investment vehicle. To date, this platform has committed USD 130 million across thirteen projects in six cities, aiming for a total of $1 billion in deployed…

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Land Shortages Fuel Strategic Acquisitions through Bankruptcy

As land availability tightens and competition grows in India’s major cities, strategic buyers are increasingly using the corporate insolvency resolution process under the Insolvency and Bankruptcy Code to acquire urban real estate. This framework is becoming crucial in facilitating ownership changes and land consolidation in areas with limited supply, a trend reflected in various recent rulings by bankruptcy tribunals nationwide. Data from the Insolvency and Bankruptcy Board of India indicates that by the end of September, 8,659 companies had entered insolvency proceedings, with around 1,905 being real estate companies. Of these, approximately 1,472 have received resolution plans from prospective buyers,…

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Karnataka Housing Board Plans 593-Acre Project Near Foxconn

Representative image BENGALURU: The Karnataka Housing Board (KHB) has announced plans to acquire 593 acres of land near Devanahalli for a significant project, targeting regions experiencing rapid growth from substantial industrial investments, including the Foxconn manufacturing site. The proposal encompasses land in Vishwanathapura, Beerasandra, Shyanappanahalli, and Vajarahalli villages in Kundana hobli, Devanahalli taluk, Bengaluru Rural district. Officials indicated that the initiative aims to meet increasing residential demand spurred by swift urbanization and industrial expansion in the area. This notification, issued last week under the Land Acquisition Act, allows a 60-day period for landowners and interested parties to submit objections and…