Category: Latest Stories

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CommercialLatest Stories

Brookfield India REIT Launches Placement at ₹329.94/unit

NEW DELHI: Brookfield India Real Estate Trust (Brookfield India REIT) has commenced its institutional placement for unit subscriptions after receiving approval from unitholders earlier this month. The issue was initiated on April 16, 2026, following the approval from the issue committee of Brookprop Management Services, the REIT’s managing entity, which accepted the preliminary placement document. The institutional placement’s floor price has been established at ₹329.94 per unit, consistent with regulatory pricing criteria. Fundraising will occur through one or more tranches of institutional placements, in accordance with the Securities and Exchange Board of India (REIT) Regulations. Approval from unitholders for this…

CommercialLatest Stories

Brookfield India REIT Raises ₹2,600 Crore for Growth

MUMBAI: The International Finance Corporation (IFC), a member of the World Bank Group, in collaboration with Whiteoak Capital, HDFC Life Insurance, Axis Max Life Insurance, and PPFAS Mutual Fund, is participating in Brookfield India Real Estate Trust’s Qualified Institutional Placement (QIP) aimed at raising ₹2,600 crore, according to sources familiar with the matter. The initial issue, set at ₹2,000 crore, was increased with a 30% greenshoe option due to strong investor interest, and is expected to close this week. “The issue size was raised on Friday following enthusiastic responses from investors. Approximately 90% of the allocation went to long-only investors,…

IndustryLatest Stories

Adani Enterprises Launches Three New Hotel & Airport Units

NEW DELHI: Adani Enterprises Ltd (AEL) announced that its subsidiary has established three new wholly-owned units focusing on hotel and real estate development, part of its airport city expansion strategy. Adani Airport City Ltd, a wholly-owned step-down subsidiary, has formed Adani Navi Mumbai Airport City Ltd, Adani Guwahati Airport City Ltd, and Adani Ahmedabad Airport City Ltd. The newly formed entities will engage in real estate operations, including construction and hospitality services such as integrated restaurants, banquet facilities, and business centers, according to a regulatory filing. The subsidiaries “will be involved in real estate activities with owned or leased properties,…

InfrastructureLatest Stories

Hundreds of Illegal Extensions Removed in Gurugram Operation

File Photo GURUGRAM: Enforcement teams escalated their anti-encroachment efforts on Sunday, deploying bulldozers across DLF phases, Golf Course Road, South City, Sushant Lok, Suncity, and other upscale neighborhoods to remove illegal extensions impacting right of way. Authorities demolished hundreds of illegal structures following a stay by the Punjab and Haryana High Court on the stilt+four-floor (S+4) policy, pushing the government into strict enforcement mode. The operation was spearheaded by district town planner (enforcement) Amit Madholia, with all eight teams operating simultaneously throughout the city, targeting encroachments along internal roads. Officials noted that Sunday’s actions were more extensive and executed faster…

IndustryLatest Stories

Uttar Pradesh’s Draft Code Ties FAR to Road Width

NOIDA: The Uttar Pradesh government has released a draft unified building code aimed at significantly altering project developments in Noida, Greater Noida, Yamuna, and other industrial development areas. The new regulations propose to consolidate separate rules for each development authority into a singular comprehensive framework. They also aim to increase floor area ratio (FAR) limits across various categories, link higher FAR to the width of adjacent roads, reduce setback requirements, and eliminate height restrictions except where safety or heritage guidelines apply. The draft of the Unified Building Regulations for Industrial Development Authorities is now available for public comment on the…

Latest StoriesRera

Himachal RERA Fines Chester Hill Projects in Solan

SHIMLA: The Himachal Pradesh Real Estate Regulatory Authority (RERA) has imposed an interim penalty of ₹70 lakh (₹35 lakh for both Chester Hill-2 and Chester Hill-4) on real estate development projects in Solan due to several regulatory violations. The penalties were issued through two separate orders for confirmed breaches of relevant HP RERA sections. The official documents were released on Sunday. The complaints revolved around the irregular formation of a resident welfare association, inadequate account maintenance of funds received from allottees, and improper expenditures on projects. RERA has escalated multiple complaints from individual buyers and the Association of Allottees concerning…

InfrastructureLatest Stories

NGT Forms Committee to Probe Shahpura Lake Encroachments

Representative AI image BHOPAL: The National Green Tribunal (NGT) has taken a serious stance on the alleged encroachments in the green belt around Shahpura Lake. On Thursday, the tribunal established a committee to inspect the site and deliver a report within six weeks. Environmental advocate Nitin Saxena’s petition to the NGT central bench alleges that the green belt has been egregiously encroached upon, with illegal structures appearing in the lake’s buffer zone, thus violating Wetland Rules. Counsel for the petitioner, Chinmay Singh, revealed that “untreated water is being funneled into the lake, obstructing the natural drainage channels that feed it,…

Latest StoriesRegulatory

Missing Papers Halt 2.5 Lakh Property Deals in Gurugram

GURUGRAM: The Income Tax (I-T) department is investigating approximately 2.5 lakh property transactions, worth over Rs 3 lakh crore, in the north-west region of India, according to officials. Many of these substantial transactions stem from Gurgaon and Faridabad. Revenue offices in these areas have either neglected to report transactions or submitted incomplete or erroneous PAN details, causing significant obstacles in tax verification efforts. Over the past year, the Directorate of Intelligence and Criminal Investigation (Chandigarh) has conducted over 40 surveys and spot verifications across revenue offices in Punjab, Haryana, Himachal Pradesh, and various Union Territories, including Chandigarh, Jammu & Kashmir,…

InfrastructureLatest Stories

Andhra CM Unveils ₹40,000 Lease per Acre for Amaravati Phase II

Representative AI image AMARAVATI: Andhra Pradesh Chief Minister N Chandrababu Naidu has announced a lease of Rs 40,000 per acre for a decade to farmers participating in the second phase of the Land Pooling Scheme for the new capital city, Amaravati. Additionally, the chief minister pledged to increase the lease amount by Rs 3,000 annually and provide a crop loan up to Rs 1.5 lakh per household, according to a press release issued on Saturday. Municipal Minister P Narayana stated on April 10 that a total of 31,150 farmers have contributed nearly 34,983 acres, including 1,000 acres from Pedaparimi village…

Latest StoriesRegulatory

Telangana HC Grants Week for Gov’t to Respond in GHMC Merger Case

HYDERABAD: The Telangana High Court has granted the state government one last opportunity to submit its responses to a series of petitions challenging the merger of panchayats, municipalities, and municipal corporations within the Outer Ring Road limits into the GHMC. The bench, led by Chief Justice Aparesh Kumar Singh and Justice GM Mohiuddin, stated, “As a final indulgence, the respondents (state) are allowed one week to file a counter-affidavit.” The court also granted an additional week for the petitioners to respond to the state’s counters and adjourned the matter for further hearings. Among the petitioners is 98-year-old farmer MA Shareef…