Category: Latest Stories

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IndustryLatest Stories

Jaipur’s Rule Hurdles Residential-to-Commercial Conversions

Representative AI image JAIPUR: The Jaipur Development Authority (JDA) has mandated the rectification of setback violations before granting approvals for residential-to-commercial conversions, resulting in a significant decline in approvals. According to officials, more than 80% of conversion applications have been pending for the past six or seven months due to setback violations that require regularization. Over 90% of these applications were ultimately rejected as applicants showed little interest in addressing the violations. “Currently, around 15 applications are on hold due to setback violations. Under the new regulation, approvals will not be granted until these violations are rectified,” said a JDA…

InfrastructureLatest Stories

Andhra Pradesh Unveils Common Zoning Rules for Faster Urban Approvals

Representative AI image AMARAVATI: The Andhra Pradesh government has announced the Common Zoning Regulations, 2026, creating a standardized, rule-based framework for land use and urban development throughout the state. This initiative aims to minimize regulatory confusion and expedite development approvals. Principal Secretary of Municipal Administration and Urban Development (MA&UD), S. Suresh Kumar, stated that the new regulations replace various outdated zoning frameworks with nine standardized land-use categories, employing a zone-specific negative-list approach where activities are permissible unless explicitly prohibited. “The introduction of the Common Zoning Regulations, 2026, provides a consistent and rule-based framework for land use and urban development, aiming…

IndustryLatest Stories

Kolte-Patil Q1 FY27 Sales Value Steady at ₹617 Crore

NEW DELHI: Kolte-Patil Developers announced a sales value of ₹617 crore for the quarter ending June 30, 2026, nearly unchanged from ₹616 crore in the same quarter of the previous fiscal year, according to their regulatory filing. The company’s collections surged by 30% year-on-year, reaching ₹715 crore in Q1 FY27, up from ₹550 crore in Q1 FY26. This figure also includes income from development management agreement projects. The average sales realization for the company increased by 29%, climbing to ₹9,442 per sq. ft. from ₹7,337 per sq. ft. in the previous year. This rise was attributed to price adjustments across…

CommercialLatest Stories

Volvo Group Leases 600K Sq Ft Office in Bengaluru

One of the largest transactions in Q2 2026 occurred when the Volvo Group leased 600,000 sq. ft. of office space at Bagmane Capital South in Bengaluru, influenced by geopolitical tensions that have delayed decision-making processes. Bengaluru topped the list for city-wise leasing, holding a 27% share in Q2 2026, while Bengaluru, Pune, and Delhi-NCR together represented 58% of national leasing. “Bengaluru remains India’s premier office market, bolstered by a rich technology workforce, a thriving tech ecosystem, premium office space, and competitive rents. The city accounted for nearly 50% of nationwide pre-commitments this year, indicating occupiers’ readiness to secure top-quality space…

CommercialLatest Stories

Chandigarh to e-auction 20 commercial properties in Manimajra

Representative AI image CHANDIGARH: The Municipal Corporation (MC) of Chandigarh plans to auction 20 commercial properties, including booths and showrooms, in Manimajra to enhance its revenue. A special committee has been set up to determine the reserve prices and finalize the terms for the property disposal. Sources indicate that approximately 80 commercial properties in Manimajra are currently vacant and will be auctioned in phases. The initial group of 20 properties will undergo e-auction following the committee’s assessment. The committee is evaluating multiple parameters to establish reserve prices, with the current collector rate being a significant factor. Bidders will be given…

Latest StoriesRegulatory

EOW Charges ₹104 Crore Housing Loan Scam; Retired Seed Manager Arrested

RAIPUR: On Friday, the Economic Offences Wing (EOW) intensified its efforts in two long-standing corruption cases. They submitted a 15,000-page chargesheet concerning a nearly 30-year-old cooperative housing loan fraud, which has escalated into a Rs 104-crore bad debt. Additionally, they apprehended a retired official from the Chhattisgarh State Seeds and Agricultural Development Corporation in a case involving disproportionate assets. In the housing loan fraud case, charges were filed in a special Prevention of Corruption Act court against Thawardas Madhwani, the former chairman of Adhunik Grih Nirman Cooperative Society in Raipur, Basant Kumar Sahu, the former housing supervisor of the Madhya…

CommercialLatest Stories

Gov’t Plans Mandatory Energy Ratings for Large Buildings

NEW DELHI: The government has proposed mandatory energy performance ratings for new commercial and institutional buildings with a built-up area of 20,000 square meters or more. This initiative aims to enhance energy efficiency in one of India’s most rapidly growing electricity-consuming sectors. According to a draft notification released by the power ministry to amend the Energy Conservation and Sustainable Building Code, owners of all new large buildings and complexes commencing construction post-notification will be required to obtain an energy rating from the Bureau of Energy Efficiency (BEE) or a registered rating agency. The proposed framework aims to establish a nationally…

Latest StoriesRegulatory

Telangana Probes Dharani, Bhu Bharati Land Deals

HYDERABAD: On Friday, the state cabinet announced the establishment of a Special Enquiry Team (SET) to investigate alleged irregularities concerning land transactions and record manipulation related to the Dharani portal and its successor, the Bhu Bharati portal. The investigation will focus on nearly six years of transactions, examining claims related to land registrations, record alterations, transfers of government land, and prohibited land listings. As stated by revenue and housing minister Ponguleti Srinivas Reddy, following a cabinet meeting chaired by Chief Minister A Revanth Reddy, the probe will review all transactions deemed suspicious from the launch of the Dharani portal in…

IndustryLatest Stories

Bharat Future City: 90 Real Estate Proposals Amid Approval Delays

Representative AI image HYDERABAD: Almost a year after the state government announced the ambitious Bharat Future City project, real estate developers seem to be proceeding with caution. Most investment is limited to select areas along the Srisailam and Nagarjuna Sagar highways, while others wait for clearer direction on the city’s development plans. Since the announcement of Bharat Future City, the Future City Development Authority (FCDA) has received approximately 80 applications for open plots and 10 proposals for housing projects, including gated communities. However, only 18 layouts have been approved so far, with several remaining pending due to various issues, including…

CommercialLatest Stories

Lenskart Leases 88,343 Sq Ft Office in Delhi Aerocity

NEW DELHI: Lenskart Solutions has signed a lease for 88,343 sq ft of office space at Worldmark 6, Aerocity, Delhi, from Alborz Developers, as per lease documents obtained from Propstack, a real estate data analytics company. The leased area consists of the entire eighth floor, including Units 1 and 2, designated for office use. This marks a new lease agreement. The lease commenced on April 1, 2026, and spans nine years. Lenskart will begin with a monthly rent of ₹210 per sq ft, resulting in an estimated monthly cost of around ₹1.86 crore. Propstack estimates the overall rental value for…