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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BMC to Launch Safety Licenses for High-Rise Site Officers

Representative image created by AI MUMBAI: The BMC’s building proposal department should implement a professional safety license for Licensed Safety Officers (LSOs) for each high-rise development in the city. The special safety control guidelines recommended by a committee, as directed by the Bombay High Court, were approved by the state government and sent to the BMC on August 20. In 2022 and 2023, there were incidents involving tower cranes that affected pedestrians. On February 14, 2023, a tragedy occurred at a residential construction site where concrete blocks fell from the 42nd floor onto an adjacent road, resulting in the deaths…

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Pune Activists: Scrap Janata Vasahat TDR Proposal, Don’t Pause It

Here’s a rewritten version of your content: — PUNE: Following the state government’s decision to pause the contentious TDR (Transfer of Development Rights) proposal for the Janata Vasahat slum rehabilitation, activists and residents are calling for its complete cancellation. They allege significant irregularities in land classification, inflated valuations, and a transparency deficit that could jeopardize the rights of slum dwellers. The project, valued at Rs750 crore, involves allocating full TDR, representing 100% of the slum area at 1 Floor Space Index (FSI). However, parts of the Janata Vasahat slum are designated in the Pune Municipal Corporation (PMC)’s Development Plan as…

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PAC: Punjab Building Rules Inferior to Land Pooling

LUDHIANA: Members of a public action committee have voiced strong opposition to the draft Punjab Unified Building Rules 2025. They argue that the proposed regulations are even more detrimental than the land pooling scheme previously withdrawn by the state government due to public pressure, claiming it will exacerbate traffic congestion and other issues, undermining its intended purpose. The objections were presented by PAC (Mattewara) representatives—Jaskirat Singh, Kapil Arora, Kuldeep Singh Khaira, and Amandeep Bains—before the director of town and country planning on Thursday. The housing and urban development department had solicited public feedback on the Draft Punjab Unified Building Rules…

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Brigade Group Leases 9-Acre Plot on Chennai’s OMR

Representative image created by AI BENGALURU: Brigade Group, a prominent real estate developer, has secured a long-term lease for nine acres of land in Perungudi along the Old Mahabalipuram Road (OMR) in Chennai from YMCA. This acquisition stands out as one of the most significant transactions in the city’s IT corridor in recent years. The site, leased for 55 years, is situated in a strategically important area where large land parcels are rare. It has the potential for development of approximately 1.6 million sq ft, according to an insider. Though financial specifics are not disclosed, experts estimate that land at…

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Gurugram RWAs demand GST cut on maintenance bills to 5%

GURUGRAM: Resident welfare associations (RWAs) have urged Haryana CM Nayab Singh Saini that essential services like security, water supply, and sanitation should not be subjected to luxury taxes. They are calling for a rationalization of the GST applied on monthly maintenance fees. In their appeal, they have asked Saini, who also oversees finance, to reduce the GST rate from 18% to 5% and to raise the exemption limit from Rs 7,500 to Rs 10,000 per flat per month. This request arises in light of PM Modi’s announcement on Independence Day, which stated that the GST framework would be revamped into…

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New Building Bylaws Face Roadblocks in UP Cities

LUCKNOW: Challenges have arisen in the enforcement of the newly notified building bylaws in several cities. Key concerns raised by housing development authorities to the government include the parking requirements for hotels, the calculation of open space in layouts exceeding 300 square meters on a telescopic basis, and the potential for establishing hospitality and hotel facilities on agricultural land, among other issues. Currently, the approval process for building plans submitted by property owners has stalled in some areas. On July 3, the state government approved new building bylaws designed to be implemented by housing development authorities within regulated areas. This…

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NeoLiv Purchases 17.5 Acres in Mumbai Area

Representative image NEW DELHI: Realty firm NeoLiv has secured a 17.5-acre plot in the Mumbai area and is set to invest Rs 150 crore in a new housing project. On Thursday, the company announced the acquisition of land in Khopoli within the Mumbai Metropolitan Region (MMR) but did not disclose the purchase price. According to NeoLiv founder and CEO Mohit Malhotra, “We will develop approximately 180 residential plots on this land, with the total project costing Rs 150 crore.” The project will also feature villas. Malhotra mentioned that this marks the company’s third development venture. NeoLiv highlighted that the Panvel-Khalapur-Khopoli…

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Lavasa Bidders Boost Offers; Valor Estates on Top in Round 3

All three bidders have boosted their financial offers for the struggling Lavasa Corp during the third round of bidding, increasing the competition for what was originally set to be India’s first hill town. Valor Estates has significantly raised its bid to ₹946 crore based on net present value (NPV), placing it in the lead among the contenders. The Welspun-Ashdan consortium has also hiked its bid to ₹845 crore from a previous offer of ₹776 crore on an NPV basis, leaving the Mumbai-based Yogayatan Group in third place with an NPV of ₹830 crore, according to sources familiar with the situation.…

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Hyderabad to Auction 93 Plots Starting September 17

HYDERABAD: After a two-year hiatus, the Hyderabad Metropolitan Development Authority (HMDA) is resuming its land auctions, releasing 93 open plots across different city areas. The three-day e-auction is scheduled for September 17, 18, and 19, as announced by the authority on Wednesday. Among the total plots, 70 are situated in the Bachupally HMDA layout, with additional plots found in Turkayamjal (12), Kokapet (4), Poppalguda (4), Chandanagar (4), Bairagiguda (4), and Medchal Malkajgiri (7) encompassing Gandi Maisamma, Suraram, and Medipally. Officials disclosed that the highest upset price is set at ₹1.75 lakh per square yard for a large plot measuring 8,591…

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Landmark Group to invest ₹400 crore in Dwarka Expressway project

NEW DELHI: Gurugram-based Landmark Group is set to invest approximately ₹400 crore in the development of Landmark Skyvue, located in Sector 103 along the Dwarka Expressway. This new development marks phase II of the project, which spans 11 acres. Phase I, covering three acres, was completed in 2013, while phase III is anticipated to launch in FY26, encompassing four acres. The construction for phase II is estimated at ₹400 crore, with the company negotiating with State Bank of India (SBI) for around ₹200 crore in financing. The remaining construction costs will be covered through internal funds, bank loans, and client…