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

Bengaluru body plans land auctions for ₹1,800 crore boost

Representative image created by AI The Bengaluru Development Authority (BDA) is set to generate up to ₹1,800 crore through the auction of prime urban land, enhancing efforts to monetize land assets and increase revenue. This initiative is anticipated to draw competitive bids from top real estate developers, especially amid ongoing land shortages and high demand in metropolitan areas. Part of the monetization strategy includes BDA’s planned e-auction for three substantial commercial land parcels in Konadasapura, located along the rapidly developing Whitefield–Hosakote Road corridor in east Bengaluru. The largest parcel covers over 52 acres (approximately 2.13 lakh sq. metres), with two…

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Prestige Group Scraps Lutyens’ Plan, Sells Bungalow

Representative Image NEW DELHI: The Prestige Group from Bengaluru, which purchased a bungalow from TDI Infratech on Kasturba Gandhi Marg in Delhi for the development of a luxury boutique project, has withdrawn from the deal due to approval delays. The firm has sold the property for approximately ₹450 crore, after acquiring it two years ago for about ₹300 crore. TDI retained ownership of the Lutyens Delhi property intended for redevelopment. Initially set as a joint development agreement, Prestige eventually acquired the asset entirely. The property covers 5,100 square yards, with a projected revenue potential of ₹700 crore. Sources indicate that…

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Suhana Khan’s Alibaug property deal still pending, says minister

Representative AI image MUMBAI: A real estate transaction involving Suhana Khan, daughter of Shah Rukh Khan, has come under scrutiny in the Maharashtra Legislative Council. On Thursday, Shiv Sena (UBT) legislator Anil Parab raised concerns regarding the legality of the sale. Revenue Minister Chandrashekhar Bawankule confirmed in a written response that although a registered agreement exists between the sellers and Suhana, the final sale is incomplete pending government approvals. Parab inquired whether a plot in Thal village, Alibaug, previously assigned to Narayan Vishwanath Khote for agricultural purposes, was sold to Suhana without the necessary clearance from the district collector. The…

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UP: 1,598 Hectares in Defence Corridor Now Open for Allotment

Representative AI image LUCKNOW: An additional 1,598.92 hectares of land is now available for allocation under the Uttar Pradesh Defence Industrial Corridor (UPDIC), as announced by an official spokesperson on Friday. The Defence Corridor has already allocated 977.54 hectares to 62 companies, resulting in a committed investment of ₹11,997.45 crore and creating 14,256 direct jobs. Furthermore, another 110 MoUs are in the pipeline, expected to attract nearly ₹23,000 crore and generate over 38,000 additional jobs. According to UPEIDA ACEO HP Shahi, the government has sanctioned 2,097 hectares across six nodes—Aligarh, Kanpur, Lucknow, Jhansi, Chitrakoot, and Agra—of which over 2,040 hectares…

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Residents allege builder is ignoring construction rules in Bengaluru

Representative AI image BENGALURU: Residents of a gated community on Gottigere Lake Road in south Bengaluru are expressing their outrage over the disruptions caused by the construction of a new residential project nearby. They reference a 2012 Karnataka High Court ruling that bans noisy construction work after 6 PM, claiming their repeated complaints have been disregarded. “Construction has persisted for nearly six months. Our apartment complex has four blocks, and Block D suffers the most. Many senior citizens live here, yet no action has been taken by the authorities despite our continuous complaints,” stated Srinath, a resident. In June, residents…

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Maharashtra CM Launches Nagpur Model for Ownership Rights Statewide

NAGPUR: Chief Minister Devendra Fadnavis announced on Saturday that the “Nagpur model” for granting ownership rights will be implemented across Maharashtra. This initiative aims to allow thousands of residents to live with dignity, shedding the stigma of being labeled “encroachers.” The announcement was made at a function in his Nagpur South-West assembly constituency, where ownership documents were distributed to beneficiaries. Fadnavis emphasized that this initiative responds to a long-standing demand from citizens who have been living in slums for decades. “For 30–40 years, slum residents have sought ownership documents, only to be ignored. Today, these documents do more than provide…

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Ahmedabad builder invests ₹103.5 crore for FSI in Thaltej highrise

This week marked a significant step in the city’s vertical living initiative, with a builder paying Rs 103.50 crore to the AMC for additional FSI to develop a 38-storey residential project located near Gulmohar Party Plot on Hebatpur Road in Thaltej. This payment sets a new record for the highest chargeable FSI amount approved for a single project, indicating a rising demand for luxury high-rise housing. Civic officials attribute this increase to higher jantri rates and more flexible tall-building regulations. The town development department of AMC has recently approved the construction plans. Spanning an area of 9,958 sq meters, the…

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Noida Authority to Create Database of Illegal Buildings

NOIDA: The Noida Authority is creating an online database to record illegal constructions, providing current statuses, photographs, and authorized land uses. A second database will monitor demolitions, designating reclaimed land as owned by the Authority. This initiative aims to prevent fraud in land and property transactions. As of January 2024, Noida has reclaimed 2.3 million sqm of encroached land valued at over Rs 2,200 crore. Officials stated that identified land mafias will be publicly named, with action reports shared with the police commissioner for prompt enforcement. Warning boards are being placed on reclaimed plots, clearly indicating that the land belongs…

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Maharashtra Considers Policy for Converting Freehold Plots in Nagpur

Representative Image NAGPUR: Minister of State (In-charge) Shambhuraj Desai emphasized the need for a distinct policy to convert numerous plots leased before the establishment of the Nagpur Municipal Corporation into freehold titles. He mentioned that the Nagpur situation could affect similar plots in other cities across Maharashtra, and a decision will follow a departmental meeting. The topic was raised by Nagpur MLAs Pravin Datke and Mohan Mate. Datke reported that Nagpur has about 9,000 plots across 22 town planning schemes, with 61,827 plots under the Nagpur Improvement Trust (NIT) proposed for freehold conversion, a proposal already sent to the State…

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Panel formed to investigate EWS, LIG flat delays in Ghaziabad

GHAZIABAD: A six-member committee has been established to investigate delays in allotting residential units in the EWS and LIG categories by private developers. This action comes in response to complaints regarding developers’ procrastination in handing over possession to beneficiaries. “It is mandatory for group housing developers to allocate 10% of total flats for the EWS and another 10% for the LIG category. We have been instructed to compile reports on the number of flats constructed by developers in these categories as well as those that remain undelivered,” an official from GDA stated. “The committee will produce a detailed zone-wise report…