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

HSVP Seeks 196 Acres for Housing Hub near Aravalis

Representative AI image GURUGRAM: HSVP has begun the procurement process for 196 acres of land from willing owners across eight villages in Gurgaon under the e-Bhoomi scheme. The largest parcel identified is 107 acres in Shikohpur, designated for a residential sector near the Aravalis. The proposal is currently under review at HSVP headquarters, with negotiations with landowners set to commence only after approval, according to officials. Shikohpur, located along the Delhi-Jaipur highway, accounts for over half of the land offered by farmers. Officials indicated that property owners in the village prefer to sell approximately 107 acres voluntarily rather than through…

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Puravankara Q1 FY27 Pre-Sales Up 28% to ₹1,439 Crore

Representative AI image NEW DELHI: Puravankara reported pre-sales of ₹1,439 crore in Q1 FY27, achieving a 28% year-on-year growth. Collections increased by 40% from the previous year to ₹1,199 crore during the quarter. The sales area expanded to 1.36 million sq ft, marking a 9% rise compared to the same period last year. The average price realization improved by 18% year-on-year to ₹10,589 per sq ft. The company delivered 0.94 million sq ft, completing 745 homes during this quarter. Additionally, Puravankara finalized an agreement with ICICI Prudential AMC for the sale of its commercial property, Purva Zentech. The transaction values…

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199 Lucknow Buildings Deemed Unsafe; Owners Must Act

LUCKNOW: In an effort to prevent building collapses during the monsoon season, the Lucknow Municipal Corporation (LMC) has issued notices to the owners and residents of 199 unsafe buildings. They are required to repair the structures or vacate them immediately. According to officials, these buildings are a hazard to both residents and surrounding properties during heavy downpours. This initiative is part of LMC’s monsoon safety campaign, and ongoing surveys aim to identify additional unsafe structures. The highest concentration of unsafe buildings is found in Zone 1, which includes Hazratganj, Aminabad, Kaiserbagh, and Latouche Road, accounting for 99 buildings. Zone 2,…

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Real Estate Firms Boost Legal Hiring Amid Complex Deals

Representative AI image MUMBAI: As India’s real estate market becomes more institutionalized and deal-making grows complex, developers are enhancing their in-house legal teams to manage various challenges from land acquisition to insolvency transactions. Experts note that this hiring trend reflects significant changes in the industry’s operational strategies. Recently, several prominent developers have appointed new legal leaders. Arvind SmartSpaces, part of the Lalbhai Group, recruited Tarpit Patni from Godrej Properties to oversee its legal operations. Godrej Properties, in turn, appointed Astha Punjabi, formerly general counsel at BPTP, as the legal head for its northern zone. Hero Realty has brought Sachin Sharma…

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Delhi CM requests ₹100 crore for unauthorized colonies plan

NEW DELHI: Delhi Chief Minister Rekha Gupta has requested ₹100 crores from the Centre to expedite the implementation of the PM-UDAY scheme, aimed at granting property rights to residents of 1,511 unauthorized colonies in the national capital, as stated in a CMO release on Sunday. In a correspondence with Union Minister for Housing and Urban Affairs Manohar Lal, the Chief Minister emphasized that the department will establish PM-UDAY (Pradhan Mantri Unauthorised Colonies in Delhi Awas Adhikar Yojana) cells across all 13 districts of Delhi, each supervised by an Additional District Magistrate (ADM). She highlighted a proposed allocation of ₹100 crores…

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Architects urge Ranchi civic body to resolve approval deadlock

RANCHI: The Jharkhand association of licensed technical professionals, including architects and engineers, has expressed concerns over delays and rejections in the approval of building maps from the Ranchi Municipal Corporation (RMC). On Saturday, the association sent a letter to the municipal commissioner, pointing out that property owners must pay holding taxes on vacant land and obtain a holding number prior to applying for map approval. Despite receiving a holding number after thorough verification of documents—such as sale deeds, mutations, updated rent receipts, and khatian—applicants still encounter significant obstacles later in the process. Sujeet Bhagat, head of the association, stated, “Numerous…

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Builders’ Association of India requests clarity on Tamil Nadu JDA rules

Representative AI image Recently, a developer seeking to process a sale deed at the Mylapore sub-registrar office was instructed to register a joint development agreement (JDA) first—an initiative that has not yet been implemented in the state. Developers have expressed concerns that such discrepancies are resulting in property registration delays. The registration department is currently drafting guidelines for the JDA, which will outline the responsibilities of landowners and developers, including construction timelines. Presently, collaborations in Tamil Nadu between landowners and developers are primarily conducted via power of attorney (PoA). However, officials from numerous sub-registrar offices have been insisting on the…

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MHADA 79A Amendment Boosts Redevelopment of 13,000 Mumbai Homes

MUMBAI: A significant legal obstacle in the redevelopment of countless aging and hazardous buildings in Mumbai has been overcome following the Maharashtra Legislature’s amendment to the MHADA Act, aimed at reinstating the implementation of Section 79A. The Bill has passed through both the Vidhan Sabha and Vidhan Parishad and is now awaiting the Governor’s approval to become law. This amendment aims to eliminate the legal uncertainties that prompted the Bombay High Court to suspend the implementation of Section 79A nearly a year ago. It grants authority to officers designated by the Maharashtra Housing and Area Development Authority (MHADA) to utilize…

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Keystone Realtors Hits ₹617 Crore in Q1 FY27 Pre-Sales

NEW DELHI: Keystone Realtors achieved pre-sales totaling ₹617 crore in the first quarter of FY 2026-27, a decline from ₹1,068 crore in the same period last year. The company noted that there were no new launches scheduled for this quarter, with pre-sales mainly driven by sales from ongoing projects. Collections for Q1 FY27 reached ₹599 crore, a slight increase from ₹575 crore in Q1 FY26, bolstered by revenues from previously sold units and current project sales. Keystone Realtors outlined plans for future project launches across the Mumbai Metropolitan Region in the upcoming quarters. During this quarter, the company introduced two…

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Ahmedabad’s Civic Body Halts Temporary Plot Leasing

AHMEDABAD: The Ahmedabad Municipal Corporation (AMC) has halted the temporary leasing of civic plots citywide due to allotment irregularities. The standing committee has instructed officials to create a new policy to oversee this process. The issue was addressed in a standing committee meeting on Thursday, which revealed that, over the last two years, deputy estate officers and deputy municipal commissioners from the corporation’s seven zonal offices had leased plots temporarily without the required committee approval. Civic officials noted that the current policy lacks clarity on the duration for temporary leases, allowing multiple plots to be leased repeatedly to the same…