Category: Latest Stories

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CommercialLatest Stories

GCCs Could Represent 50% of India’s Office Demand: Report

BENGALURU: Global Capability Centres (GCCs) are set to account for up to 50% of the demand for grade-A office space in India’s top seven cities over the coming years. Annual leasing by GCCs is projected to reach 35–40 million sq ft, as per a recent report by Colliers India. The report indicates that GCCs have absorbed approximately 117 million sq ft of office space since 2020, which amounts to 38% of the total 310 million sq ft leased during this time. Their share in overall leasing has climbed from under 30% a few years ago to an expected 40% by…

Latest StoriesRegulatory

Goa Sand Mining Ban Extended by NGT Until April 23

PANAJI: The National Green Tribunal (NGT) has extended its interim relief on the ban of sand mining in Goa until the next hearing scheduled for April 23. This ban was originally imposed until January 28 after the Goa river sand protection network contested the twelve environmental clearances granted by state authorities for sand mining activities. During the January 28 hearing, the NGT ordered a penalty of Rs 50,000 on the Goa Coastal Zone Management Authority (GCZMA) due to delays in submitting their response. The GCZMA subsequently sought a modification or recall of this order. In its intervention application, the GCZMA…

Latest StoriesRegulatory

Over 350 Land Lease Violations Found in Pune and Haveli

PUNE: The city of Pune and Haveli taluka have reported the highest instances of violations concerning long-term government land leases, leading the district administration to send notices to the non-compliant institutions, officials stated on Wednesday. Types of land lease violations include failure to renew leases, unauthorized use of land, occupation beyond approved limits, illegal constructions, sub-letting for profit, not utilizing land within the required timeframe, and deviations from authorized plans. A comprehensive survey conducted across the Pune district last year examined all 2,161 government land parcels under lease. Inspections revealed 355 violations, predominantly in Pune city and Haveli taluka, according…

Latest StoriesResidential

Home Sizes Up 17% in Two Years Across Seven Major Cities

NEW DELHI: The average size of apartments in India’s top seven cities has increased by 17% over the past two years, highlighting a shift towards larger units and a growing premium housing market, according to Anarock Research. The report indicates that the average flat size rose from 1,420 sq ft in 2023 to approximately 1,676 sq ft in 2025. The National Capital Region (NCR) topped the list with a steep increase of 30%, with average unit sizes growing from about 1,890 sq ft in 2023 to around 2,466 sq ft in 2025, driven by a notable rise in luxury offerings.…

InfrastructureLatest Stories

Yamuna Authority Plans 500 Acres for Japan and Singapore Cities

LUCKNOW: The Yamuna Expressway Industrial Development Authority (YEIDA) has submitted a proposal to the state government for the development of Japan City and Singapore City along the Yamuna Expressway, officials reported on Thursday. YEIDA CEO R K Singh stated that the proposal, sent on February 18, notified the state’s Infrastructure and Industrial Development Commissioner about the identified land for these projects within the authority’s jurisdiction. He also mentioned that the authority has developed a land acquisition plan for both initiatives. Singh highlighted that this information was requested in light of Chief Minister Yogi Adityanath’s upcoming official visits to Japan and…

IndustryLatest Stories

Davanagere District Grants Land Titles to 12,000 Residents

DAVANAGERE: Deputy Commissioner GM Gangadharaswamy announced that 298 residential areas in Davanagere district have been designated as revenue villages, with title deeds distributed to 12,000 individuals at a ceremony in Haveri. In a Thursday press conference, he stated that Davanagere ranks second among districts in title deed issuance. He noted that some beneficiaries have not yet received their deeds, emphasizing the March 15 deadline. For those who haven’t subdivided their government-approved land, a non-disposal file process has begun. “We’ve disposed of files for 4,000 individuals and issued records, while 10,000 files remain pending; these individuals should contact the tahsildar’s office,”…

IndustryLatest Stories

Isprava Buys 2 Acres in South Goa for Luxury Homes

Representative image MUMBAI: Luxury second-home developer Isprava has acquired over 2 acres in Verna, South Goa, with plans to invest approximately ₹85 crore in an ultra-luxury residential project, responding to the growing demand for low-density holiday homes beyond North Goa. The Mumbai-based firm, backed by notable investors including Dabur’s Burman family, Nadir Godrej, and Anand Piramal’s family offices, aims to create a limited number of residences on the newly acquired land through its investment vehicles. The planned investment includes costs for both land acquisition and development. “The timing to enter South Goa is ideal. North Goa has matured significantly over…

Latest StoriesRegulatory

Tribunal Suspends MahaRERA Chairperson’s Order

MUMBAI: The Maharashtra Real Estate Appellate Tribunal (MREAT) has temporarily halted the MahaRERA chairperson’s order from September 2025 regarding a complaint from a flat buyer concerning the failure of promoters to deliver possession of a property in Mulund. The tribunal noted that the issuance of two variations of the order on September 9 and 10, 2025, both digitally signed by the chairperson, necessitates a thorough investigation by the authority. Following an appeal against MahaRERA chairperson Manoj Saunik’s order dated September 10, 2025, which revoked two previous orders made by the MahaRERA adjudicating officer, the tribunal stated that while MahaRERA possesses…

Latest StoriesRera

Haryana RERA Awards Buyers Compensation for Gurugram Flat Delays

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRERA) has ordered developers to pay a total compensation of Rs 41 lakh to buyers for delays in delivering an apartment in Sector 86. The apartment was booked in 2015, but possession was not offered until 2018. On February 11, the HRERA’s adjudicating officer directed developers Microtek Infrastructures Pvt Ltd and Deepanshu Projects Pvt Ltd to compensate the allottees, NRI Mridula Parti and her brother Partha Sarathi De, due to an eight-year delay in the delivery of their apartment in the Greenburg project. The compensation includes approximately Rs 40 lakh for loss of…

Latest StoriesRegulatory

Lucknow: 5,000+ Property Owners Face Sealing, Demolition Risks

LUCKNOW: A recent survey indicates that over 5,000 property owners in the city may face sealing or demolition of their premises due to land-use violations along roads that are 24 meters wide. A private agency, commissioned by the Lucknow Development Authority (LDA), identified 5,103 residential buildings allegedly repurposed for commercial use without necessary approvals. Officials announced that notices will be sent out within a week. Property owners will need to either regularize their buildings under the 2025 building bylaws or cease commercial activities. “Failure to comply may result in enforcement actions, including sealing or demolition, under the UP Urban Planning…