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

10% of Kolkata’s 3,000 Unsafe Buildings at High Risk

KOLKATA: Following the recent collapse of several unsafe buildings after heavy rainfall, the Kolkata Municipal Corporation (KMC) has initiated a city-wide campaign to demolish highly insecure structures, aiming to prevent further accidents. A KMC buildings department official stated that they are monitoring 300 extremely dilapidated buildings from a total of 3,000 identified as unsafe and requiring urgent repair or partial demolition. Most of these buildings are situated in boroughs I to IX. According to another official, the KMC is concentrating on numerous old and unstable buildings in areas such as Cossipore, Burtolla, Burrabazar, Rabindra Sarani, and others. The buildings department…

IndustryLatest Stories

Maharashtra Minister Proposes Direct Land Purchase Policy for Industries

NAGPUR: In an effort to simplify the land acquisition process for industries, Maharashtra’s Minister of State for Finance, Planning, Agriculture, Labour, Relief, and Rehabilitation, Ashish Jaiswal, has proposed a draft initiative allowing direct land purchases, bypassing the Land Acquisition Act that mandates a fourfold payment rate. Jaiswal’s proposal aims to grant full land ownership to industries, as opposed to the current system which allows for only leased land. Currently, the Maharashtra Industries Development Corporation (MIDC) facilitates land acquisitions for industries. Upon paying the fourfold price, industries can only lease the land, explained Jaiswal. According to the draft proposal, companies looking…

IndustryLatest Stories

Mumbai Residents Worry About Builder-Committee Nexus in Redevelopment

Representative image created by AI Residents of a housing society in Khar were taken aback to discover that some members of the managing committee indulged in an all-expenses-paid trip to Bangkok, sponsored by a builder. The son of the society chairman, who runs a small software firm, secured contracts worth ₹6.5 crores, while his sister, a doctor, landed a high-ranking position at a hospital. Meanwhile, the secretary of another society, who owns a printing press, received a lucrative deal to print annual reports for a construction firm. In a society located in Vile Parle, a female committee member has taken…

IndustryLatest Stories

Odisha Governor Encourages Real Estate Investment in Tier II & III Cities

BHUBANESWAR: Odisha Governor Hari Babu Kambhampati has encouraged real estate developers to invest in tier II and III cities to promote balanced urbanization and sustainable development. He emphasized the importance of ethical business practices and customer-centric models to foster trust within the sector. “Odisha is at a pivotal moment, emerging as the growth hub of Eastern India. Projects like smart cities in Bhubaneswar and Rourkela, along with the Bhubaneswar-Cuttack-Puri Corridor and major industrial zones, are unlocking tremendous potential,” he noted. During an Extraordinary General Meeting (EGM) of the Confederation of Real Estate Developers’ Associations of India (Credai) held on Friday,…

IndustryLatest Stories

Bengaluru: E-Khata Error Leaves Owner with Massive Tax Bill

BENGALURU: The Bruhat Bengaluru Mahanagara Palike (BBMP) launched e-khata services at BangaloreOne centers across the city on November 11, 2024. The launch was announced by BBMP Chief Commissioner Tushar Girinath following a week-long training for the BangaloreOne staff. This initiative aims to alleviate the challenges faced by property owners and protect them from exploitation by private cyber centers, which often charge up to ₹5,000 for e-khata-related services that are now available at government centers for regulated fees. If the experience of a flat owner is any indication, property owners must be vigilant and verify their property details before uploading relevant…

IndustryLatest Stories

Brookfield India REIT sees 13% NOI growth in Q1 FY26, plans ₹1,000 crore raise.

NEW DELHI: Brookfield India Real Estate Trust (BIRET) has announced a 13% year-on-year (YoY) increase in net operating income (NOI), reaching ₹4,986 million for the quarter ending June 30, 2025. The REIT reported gross leasing of 651,000 square feet during the quarter, achieving an average re-leasing spread of 22%. Committed occupancy improved to 89%, reflecting a 9% rise over the last 18 months since SEZ reforms, with a total of 4.6 million square feet leased across its portfolio. Income from operating lease rentals grew by 9% YoY to ₹4,583 million. The REIT also declared a distribution of ₹5.25 per unit,…

IndustryLatest Stories

SC Hearing Next Week: Sports City Builders Begin Repayment

NOIDA: In response to notices from the Noida Authority, several builders engaged in the Noida Sports City projects have begun settling their outstanding dues. A notable action includes a consortium partner of the Sector 150 Sports City project, led by Lotus Green Constructions, which has made a payment of Rs 80 crore. Officials indicated that other consortium partners in this project have also shown readiness to make payments and are expected to do so shortly. Back in March, the Authority issued notices mandating developers to clear longstanding dues within one month, as per a high court directive from February. Outstanding…

IndustryLatest Stories

Only 29% of Plots Sold in Andhra’s MIG Housing Scheme

Representative image created by AI VISAKHAPATNAM: Nearly three years after its launch, Andhra Pradesh’s ‘Smart Townships’ initiative, now known as ‘NTR Smart Townships’ under the new administration, has struggled to fulfill its commitment to providing affordable housing options for middle-income groups (MIG). Out of 36 projects initiated across various Assembly constituencies, a mere 29% of plots have been sold, generating only 23% of the anticipated revenue. Additionally, urban development authorities (UDAs) have approved 38 more projects across 37 constituencies, currently in diverse stages of development. The scheme’s underperformance can be attributed to several factors, including an income cap of ₹18…

IndustryLatest Stories

Ludhiana Extends Property Tax Settlement Deadline to Aug 15

LUDHIANA: The local bodies department has extended the deadline for its one-time property tax settlement scheme to August 15, providing a chance for defaulters who missed the original deadline of July 31. This extension follows an increase in last-minute payments made at civic body suvidha centres throughout Ludhiana. Launched on May 15, the scheme allows property owners with arrears dating back to 2013-14 to clear their dues without incurring interest or penalties. Initially, the response was sluggish, but it gained traction in July. To date, the department has collected ₹15 crore under this scheme, contributing to a total property tax…

IndustryLatest Stories

Sri Lotus Developers IPO Oversubscribed 69.14x

NEW DELHI: The initial public offering (IPO) of Sri Lotus Developers and Realty Ltd, featuring prominent Bollywood figures and notable investor Ashish Kacholia, was oversubscribed 69.14 times by the close of bidding on Friday. According to NSE data, the IPO received bids for 2,74,18,69,400 shares against an available 3,96,58,730 shares. The segment for qualified institutional buyers (QIBs) was particularly robust, with a subscription of 163.90 times, while non-institutional investors saw a subscription rate of 57.71 times. Retail individual investors (RIIs) contributed a subscription rate of 20.28 times. Sri Lotus Developers secured Rs 237 crore from institutional investors on Tuesday. The…