Category: Latest Stories

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CommercialLatest Stories

Bagmane Prime Office REIT secures ₹1,150 crore from anchors

NEW DELHI: Bagmane Prime Office REIT, backed by Blackstone, has raised approximately ₹1,150 crore from anchor investors as its Initial Public Offering (IPO) opens for subscription today, with a total issue size of ₹3,405 crore concluding on May 7. The anchor book attracted a diverse array of institutional investors, including NPS Trust (through SBI Pension Fund schemes for central and state governments), WhiteOak Capital funds, SBI Life Insurance, Quant Mutual Fund, UTI MF, Kotak MF, Nippon India MF, Edelweiss MF, and JM Financial MF, based on a circular posted on BSE’s website. Additionally, global and domestic investors such as Societe…

CommercialLatest Stories

Crisil Forecasts 16-18% Growth in Flexible Workspace by FY28

NEW DELHI: India’s flexible workspace sector is projected to see a capacity increase of 16-18% in FY27 and FY28, reaching 140-145 million sq ft, as reported by Crisil Ratings. This segment has experienced significant growth over the past three financial years (FY24-FY26), fueled by rising demand from small to mid-sized global capability centers (GCCs), domestic companies, and startups. The market share of flexible workspace operators in net absorption rose from 14-15% in FY24 to around 20% in FY26, with expectations to hit 25% in the next two fiscal years. The report estimates that operators will add 15-20 million sq ft…

CommercialLatest Stories

WeWork India Expands by 1.1 Lakh Sq Ft in Delhi’s Aerocity

NEW DELHI: WeWork India Management has expanded its flexible workspace offerings by adding 1.1 lakh sq ft in Delhi-NCR with a new center at Worldmark 6 in Aerocity. The facility, situated on the third floor of the commercial complex, offers seating for over 1,400 desks. This expansion reinforces the company’s growth in key business districts. Currently, WeWork operates in eight cities, providing a total of over 1.21 lakh desks. The expansion aligns with the ongoing growth in India’s flexible workspace sector. According to Crisil Ratings, the total capacity of this segment is projected to rise by 16-18% during FY27 and…

Latest StoriesResidential

Hyderabad tops South India’s luxury market with ₹8,562 crore sales

Representative AI image NEW DELHI: In fiscal year 2026, Hyderabad recorded transactions totaling ₹8,562 crore for homes priced over ₹10 crore, establishing itself as the largest market for ultra-luxury housing in South India, as per a report by India Sotheby’s International Realty and CRE Matrix. The city surpassed Bengaluru significantly in terms of sales value. Bengaluru, however, achieved the fastest growth in this segment, with unit sales increasing by 52% year-on-year, rising from 84 units in the previous fiscal year to 128 units in FY26. The total transaction value in Bengaluru for this period reached ₹1,957 crore. The report noted…

IndustryLatest Stories

India’s Q1 2026 Real Estate Equity Inflows Hit $30.7B, Up 88%

NEW DELHI: India’s real estate sector has witnessed equity inflows of $30.7 billion from 2024 to the first quarter of 2026, marking an 88% rise from $16.3 billion in 2022-2023, as per a report by CBRE South Asia. Land and development properties, along with existing office assets, comprised over 75% of the total capital influx during this timeframe. Institutional investors accounted for around 30% of the investments, significantly increasing their capital deployment compared to the previous two years, primarily targeting office, retail, and logistics assets. The report further indicated that approximately 6,025 acres of land were secured for greenfield projects…

IndustryLatest Stories

Telangana to Assume ₹5,000 Crore GHMC Debt

HYDERABAD: In a significant relief for the Greater Hyderabad Municipal Corporation (GHMC), which has struggled with debts for years, the state government has agreed to assume liabilities totaling Rs 5,000 crore. This decision is anticipated to strengthen the debt-laden municipal corporation financially. Most of these liabilities resulted from projects including flyovers under the Strategic Road Development Programme (SRDP), the Comprehensive Road Maintenance Programme (CRMP), stormwater drainage improvements, and various urban development initiatives. “After assessing the existing debts, liabilities, and assets, it was recommended that the state government take on these long-standing financial commitments. This initiative is aimed at relieving the…

Latest StoriesResidential

Delhi body investigates Vivek Vihar building for norm violations

NEW DELHI: The Municipal Corporation of Delhi (MCD) has initiated an inquiry into potential violations of building bylaws following a devastating fire in a four-storey residential building in Vivek Vihar, which tragically resulted in nine fatalities on Sunday morning. “Officials have visited the site to investigate. We will take stringent action against any officials found negligent in approving the building plan,” stated mayor Pravesh Wahi. According to officials, the presence of grills on the rear side of the building significantly hindered rescue operations and contravened the purpose of open balconies as outlined in the Unified Building Bylaws 2016. “These balconies…

IndustryLatest Stories

Chandigarh Administration Denies CLU, Industrial Plot Conversion

CHANDIGARH: Despite the Chandigarh administration’s ambitious reform plans, several longstanding demands—such as allowing the conversion of industrial plots to retail commercial use and permitting change of land use (CLU) in villages—are not included in the proposed reforms. “There is a consensus within the administration that issues like change of land use and conversion in the Industrial Area are currently unfeasible. Hence, they will not be part of this reform agenda,” stated a senior UT official. Officials highlighted that both demands pose implementation challenges. “Chandigarh’s villages lack large contiguous land parcels necessary for CLU-based development. A cost-benefit analysis indicates that infrastructure…

IndustryLatest Stories

ACB Investigates 2,600 Illegal Colonies in Haryana

CHANDIGARH: Officials from various departments, including urban local bodies (ULB), town and country planning (TCP), and district revenue offices, are under scrutiny as the Haryana State Vigilance and Anti-Corruption Bureau (HSVACB) conducts an extensive investigation into the rise of unauthorized colonies throughout the state. The bureau is examining approximately 2,600 illegal colonies believed to have been established in violation of several laws and regulatory guidelines set forth by the TCP and ULB departments. Sources indicate that the departments involved are likely to take action against officials and private individuals identified in the probe, which is supported by substantial documentary evidence…

Latest StoriesRegulatory

NCLT OKs ₹730 Crore Revamp Plan for Rajesh Hotels

MUMBAI: The National Company Law Tribunal (NCLT) has approved Rajesh Business & Leisure Hotels’ resolution plan for the acquisition of a consortium involving Rare Asset Reconstruction Company (Rare ARC) and Check-Inn Hotels, a subsidiary of Shree Naman Group. The company reported liabilities exceeding ₹1,345 crore, while the consortium proposed a revival plan worth ₹730 crore. Prior to the tribunal’s endorsement, the plan received unanimous support from the creditors’ committee. In April 2022, the company entered the Corporate Insolvency Resolution Process after ICICI Bank filed a petition over a ₹311 crore default. The approved plan includes an upfront payment of approximately…