Category: Latest Stories

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Latest StoriesResidential

RLDA to Lease Yeshwantpur Land for Residential Project

Representative AI image BENGALURU: To bolster its revenue, the Rail Land Development Authority (RLDA) plans to lease 34,517 sqm of railway land in the Yeshwantpur railway colony. According to the RLDA’s request for proposal, a 99-year lease is set for residential development, which involves constructing apartments. The selected developer will also oversee the redevelopment of the railway colony, part of the Bengaluru division of South Western Railway (SWR), which currently houses 316 employee quarters. The project, estimated at Rs 119 crore, will have the revenue generated from residential properties shared between the developer and RLDA. “Both railway quarters and private…

IndustryLatest Stories

Coimbatore: Steel Prices Up 20%, Hurting Construction Activity

COIMBATORE: This month, TMT steel prices—a critical component in construction—have surged by 20% compared to last month, leading builders’ associations to express concerns about a potential slowdown in construction activities, particularly in housing projects. A builder based in Coimbatore noted that steel prices have risen by ₹10 to ₹12 per kg, resulting in higher construction costs than originally anticipated. The price per tonne has now increased from ₹62,000 to ₹72,000. While cement and brick prices remain stable, the significant rise in steel costs has forced builders to adjust their project estimates accordingly. This increase equates to nearly ₹50 per square…

IndustryLatest Stories

NBCC Discusses 139-Acre Project in Seychelles

NEW DELHI: State-owned NBCC is considering a project in Seychelles focused on infrastructure development, including housing, on a 139-acre island. On Monday, the company announced that Vice-President of Seychelles, Sebastien Pillay, visited NBCC’s headquarters with a high-level delegation. Discussions were held with NBCC CMD K P Mahadevaswamy and other senior officials regarding potential projects in Seychelles. “Detailed presentations were shared with the delegation, highlighting infrastructure development opportunities for the island’s 139 acres,” NBCC stated. The planned development includes affordable housing, leisure and hospitality options, premium villas, a sports arena, and social infrastructure, among others. Back in January, NBCC’s CMD visited…

InfrastructureLatest Stories

Gurugram: 450 Shanties Demolished Along Golf Course Road

GURUGRAM: In a continued effort to address unauthorized encroachments along the Golf Course Road, district authorities conducted a demolition drive on Saturday in Saraswati Kunj, Sector 53, removing approximately 450 shanties occupying nearly two acres. This operation, assisted by police from the Sector 53 station, was carried out smoothly with no significant law and order issues, according to officials. The enforcement teams indicated that these structures were erected illegally on designated land and were removed following prior complaints and notifications. This action aims to curb further encroachments and safeguard public land and access routes in the area. Saraswati Kunj, established…

CommercialLatest Stories

Google Secures 2.6 Million Sq Ft at Alembic City, Bengaluru

BENGALURU: Google is expanding its presence in Bengaluru’s Whitefield by securing approximately 2.6 million square feet at Alembic City, highlighting its long-term commitment to the area. In October 2024, Google IT Services India leased around 650,000 sq ft at this location, and under the agreement, the landlord is obligated to “hold and reserve” three additional blocks—Annex Tower, Office Block Tower G, and Office Block Tower B—exclusively for Google, according to documents from Propstack. The contract states that “the lessor shall not, during the term of this right, negotiate or agree to lease the reserved blocks to any third party” unless…

Housing FinanceLatest Stories

Unity Small Finance Bank Eyes Housing Finance Next Fiscal Year

Unity Small Finance Bank, which missed the opportunity to acquire Aviom India Housing Finance, is focusing on exploring future prospects instead of rushing into any acquisitions, according to Jaspal Bindra, executive chairman of Centrum Group, in an interview with Atmadip Ray. Bindra also serves as a non-executive non-independent director at Unity Bank, which is predominantly owned by Centrum Group (51%). The bank plans to venture into the housing finance sector in the latter half of the year. Edited excerpts from the discussion follow: 1. Following Centrum’s housing portfolio sale, it was anticipated that Unity would enter the housing finance market.…

IndustryLatest Stories

Centre Invites RWAs, Private Players for Urban Projects

NEW DELHI: Resident welfare associations (RWAs), real estate developers, and private entities are now empowered to initiate civic projects, such as water and sanitation, thanks to the newly launched Urban Challenge Fund by the Centre. Civic and urban development projects are no longer exclusively the responsibility of financially constrained municipalities. Multiple RWAs can collaborate to address civic issues by forming a group, devising a project proposal, and submitting it to local civic agencies. If a developer’s high-end apartment complex faces waterlogging on access roads, they can propose and execute a project outside the colony. This new strategy, facilitated by the…

Latest StoriesResidential

Kerala Landslide Survivors Choose New Homes via Lottery

MEPPADI: During a house allotment event for survivors of the Mundakkai-Chooralmala landslide disaster at MSA Auditorium on Friday, Valsala, a plantation worker from Chooralmala employed with Harrisons Malayalam Ltd, was filled with emotion as she participated in the draw. This allotment allowed the first group of 178 beneficiaries to choose from houses constructed under the township initiative in Kalpetta, with participants selecting slips that contained three-digit codes representing zone, cluster, and plot numbers. “I couldn’t hold back my tears when I drew the lot. Memories of my 35-year-old son overwhelmed me. Not a day goes by without crying for him…

Latest StoriesResidential

Over 2,200 Unsold Homes by Bengaluru Development Body

BENGALURU: Despite being priced lower than similar offerings from private developers, thousands of flats and villas built by the Bangalore Development Authority (BDA) on the city’s outskirts are finding it hard to attract buyers. Currently, 2,294 units remain unsold even years after completion. The BDA has made various efforts to stimulate sales, such as hosting property fairs, providing bulk discounts, and offering a 5% rebate on selected projects, yet the response from potential buyers has been underwhelming. Residents attribute the lack of interest mainly to inadequate infrastructure. Many housing developments are devoid of essential amenities like proper road access, street…

InfrastructureLatest Stories

Gurugram to Implement Two-Stage Demolition Waste Checks

Representative AI image GURUGRAM: Delhi-NCR is moving towards a system that mandates traceability of every kilogram of construction and demolition (C&D) waste. Starting April 1, individuals involved in construction, renovation, or demolition on sites of 200 sq meters or more in Gurgaon must document the disposal of their waste, as per new guidelines from the Commission for Air Quality Management (CAQM). In a significant shift, demolition waste must now be reported twice: once before construction starts and again before a building can be occupied. The longstanding practice of dumping debris along roadsides, vacant lots, or forest edges will no longer…