Category: Latest Stories

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IndustryLatest Stories

Mindspace REIT Plans 7-8 Million Sq Ft Expansion in 4 Years

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has shown remarkable operational performance with an occupancy rate nearing 94% as of the last quarter report. The REIT’s existing portfolio encompasses 30 million sq ft of completed space, alongside an additional 7-8 million sq ft currently under construction, expected to be finalized in the next two to four years, raising the total planned portfolio to around 38 million sq ft. The company maintains a steady loan-to-value (LTV) ratio between 25% and 26%, feeling secure up to 35% before considering capital expansion. Additionally, it has consistently secured a solid 20% re-leasing spread…

Latest StoriesRegulatory

Bombay HC Stops Flat Split, Backs Society’s Appeal

MUMBAI: The Bombay High Court has firmly opposed the conversion of a single housing unit into two apartments. On October 10, the court upheld a suburban society’s request to deny permission for structural modifications that would divide a flat into separate units. The interim order issued will remain effective until further directives are provided, ensuring the protection of the society’s rights until a final decision is made. The court noted that the society appears to have a compelling case for interim relief. Notices have been issued to the two residents of the flat, with the next hearing scheduled for November…

Latest StoriesResidential

DRA Homes Buys 4.38 Acres in Chennai for ₹50 Crore

Representative image NEW DELHI: DRA Homes, based in Chennai, has purchased 4.38 acres of land in Chembarambakkam along the Chennai–Bengaluru Highway for ₹50 crore (inclusive of stamp duty). Ranjeeth Rathod, the company’s managing director, stated, “Our Gold-rated Green building will integrate smart design, flexible living options, and community-focused amenities to create homes that meet the needs of India’s new generation of mobile professionals and families.” The residential project is set to include nearly one million square feet of mid-segment homes along with managed residential services for short-term stays, with an estimated sales potential of ₹650 crore. Published On Oct 22,…

Latest StoriesRegulatory

Bombay HC: Courts Can’t Make Banks Change Loan Terms or OTS

Here’s a rewritten version of the content you provided: NAGPUR: The Nagpur bench of the Bombay High Court has ruled that banks cannot be compelled to alter loan agreement terms or extend benefits of a One-Time Settlement (OTS) scheme to borrowers or guarantors. A division bench comprising Justices Anil Kilor and Rajnish Vyas stated, “Issuing a writ of mandamus under Article 226 of the Constitution would not serve justice by directing the bank to consider OTS benefits for the borrower or guarantor. We cannot order the bank to amend the terms of the agreement.” The ruling was made last Friday…

Latest StoriesRera

Odisha RERA to Hire Land Expert for Dispute Resolution

BHUBANESWAR: To enhance governance, the Odisha Real Estate Regulatory Authority (ORERA) has begun the search for a land expert to help address complex disputes. This initiative follows the recent implementation of a standard operating procedure (SOP) by the revenue and disaster management department for the registration of part plots across the state. ORERA is currently accepting applications from retired Odisha Administrative Service (OAS) officers, particularly those with at least eight years of experience as tehsildars, sub-collectors, or land acquisition officers. The selected consultant, who should be under 62 years old, will assist ORERA in reviewing land documents, assessing building and…

InfrastructureLatest Stories

Goa’s Residential Complexes with 24+ Units Must Have STPs

Representative Image PANAJI: The Goa State Pollution Control Board (GSPCB) has mandated that any residential complex with 24 or more flats must be equipped with a Sewage Treatment Plant (STP). According to the Goa Land Development and Buildings Regulations, 2010, complexes with 50 or more flats are required to have an STP only if they’re not connected to existing sewerage lines. The GSPCB’s decision comes after a comprehensive study on the volume of waste generated by housing complexes. Builders are now required to maintain the STP for three years or until the complex is formally transferred to the housing society.…

CommercialLatest Stories

Thiruvananthapuram: New IT Spaces to Boost Technopark

Sure! Here’s a rewritten version of the content: Technopark THIRUVANANTHAPURAM: The city’s IT sector is on the brink of significant changes, with numerous projects underway in Technopark Phases I, III, and IV. Technopark is anticipated to create at least 50,000 jobs through these new IT spaces. CEO Sanjeev Nair emphasized that the developments across the three phases are set to transform the IT landscape in Thiruvananthapuram. “Our focus currently lies in maximizing the utilization of available land and completing ongoing infrastructure projects in Phases I, III, and IV. Once these are fully utilized, we will explore further expansion based on…

IndustryLatest Stories

$3.9B Flow into Indian Real Estate from Private Equity (Jan-Sept 2025)

NEW DELHI: According to Savills India, a leading global real estate consulting firm, private equity investments in the Indian real estate sector reached USD 1.5 billion (₹131 billion) in Q3 2025. This marks a 32% decline compared to the previous year, yet the overall activity remains strong, with year-to-date (YTD) inflows totaling USD 3.9 billion (₹334 billion), closely approaching 2024’s figures. During Q3 2025, the office sector dominated investment, attracting USD 0.6 billion (₹52 billion), or 39% of total inflows, followed by data centers at 38%. The residential segment made up 20%, and co-living, though modest at 1%, is emerging…

IndustryLatest Stories

Real Estate, NBFCs Drive Salary Growth by 2026: Aon Study

NEW DELHI: A recent study by Aon, a global professional services firm, predicts a 9% salary increase across India by 2026, primarily fueled by robust growth in the real estate and non-banking financial company (NBFC) sectors. Driving Talent Demand: Real Estate and Infrastructure The real estate and infrastructure sectors are expected to see significant salary increases of 10.9% in 2026, slightly up from 10.5% in 2025. This growth is attributed to government capital investments, real estate market recoveries, and increasing institutional involvement. Roopank Chaudhary, a partner at Aon, stated that investments in infrastructure and policy reforms are boosting hiring. “Real…

CommercialLatest Stories

GCCs to Lease 50-55 Million Sq Ft in FY26-FY27: ICRA

Representative image NEW DELHI: ICRA, a leading rating agency, anticipates that global capability centres (GCCs) will lease an additional 50-55 million square feet of Grade A office space during FY26-FY27, which could account for 38-40% of overall office demand in the top six markets: Bengaluru, Chennai, National Capital Region (NCR), Hyderabad, Mumbai Metropolitan Region (MMR), and Pune. Furthermore, ICRA predicts that the number of GCCs will increase from about 1,700 currently to over 2,500 by 2030, generating upwards of $100 billion in revenue and expanding workforce capacity by 1.5-2.0 times. The rapid growth of GCCs has become a significant growth…