Category: Latest Stories

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CommercialLatest Stories

Bombay HC Orders MMRDA to Refund ₹646 Crore to Reliance

MUMBAI: The Bombay High Court has ordered the Mumbai Metropolitan Region Development Authority (MMRDA) to refund ₹646 crore imposed on Reliance Industries Limited (RIL) as a penalty for an alleged seven-year delay in completing a convention and exhibition centre and commercial complex in Bandra Kurla Complex (BKC). The court invalidated two penalty demand notices from MMRDA—one from 2017 for ₹646 crore and another from 2019 for ₹1,116 crore, with the latter being stayed by the court in 2020. The High Court criticized MMRDA for collecting ₹646 crore from RIL in February 2019 in a manner deemed “arbitrary, high-handed, unfair, and…

Latest StoriesRegulatory

Bombay HC Upholds Altamount Road Redevelopment, Dismisses PIL

MUMBAI: The Bombay High Court confirmed the permissions for a 16-story redevelopment of a tenanted cessed structure from 1940 on Altamount Road, dismissing a public interest litigation (PIL) filed in 2013 challenging it. The PIL, submitted by the Altamount Road Area Citizens Committee, alleged that the permissions were granted illegally and arbitrarily, establishing a “wrong and dangerous precedent.” The state contended that the permissions were lawful, an assertion with which the High Court concurred, stating that the PIL appeared to target the builder rather than address genuine public concerns. Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad stated in their…

IndustryLatest Stories

AstraZeneca India to sell 64-acre Bengaluru site for ₹3,400 Cr

Representative AI image BENGALURU: AstraZeneca’s Indian arm plans to sell its 64-acre manufacturing facility in North Bengaluru as part of a review of its global supply and manufacturing network by its UK-based parent company. The land, estimated to garner around ₹3,400 crore for AstraZeneca Pharma India, has attracted interest from developers such as Sattva Group, Aurobindo Pharma, and RMZ. This sale is part of a broader land monetization initiative. A source indicated, “AstraZeneca has shortlisted three potential bidders and plans to finalize the deal soon.” The land, located in a prime area of North Bengaluru, is valued at over ₹53…

IndustryLatest Stories

OC Probe Expands: 14 of 22 Gurugram Buildings Incomplete

Certainly! Here’s a rewritten version of the content: GURUGRAM: An investigation into violations related to occupation certificates (OCs) is gaining momentum. Following a TOI report that revealed the issuance of OCs for incomplete buildings in Gurgaon, further violations have been identified on a larger scale. On Thursday, a joint inspection by the CM Flying Squad and the Department of Town and Country Planning (DTCP) assessed several sites in Sector 70A, uncovering significant irregularities in OC issuance. Out of approximately 22 buildings inspected, at least 14 were discovered to be unfinished. Sources indicate that a list of architects associated with the…

CommercialLatest Stories

TCS Secures 20-Acre Site in Kolkata’s New Town on 99-Year Lease

MUMBAI: Tata Consultancy Services (TCS) has acquired a 20-acre land parcel in the Bengal Silicon Valley Tech Hub at New Town, Kolkata, for Rs 94 crore through a long-term lease spanning over 99 years. The West Bengal Housing Infrastructure Development Corporation (WBHIDCO), the government agency overseeing the development of New Town as a tech and urban hub, has allocated this land to TCS. The plot allocation took place on March 22, 2023, and the transaction agreement was signed on January 9, 2026, according to documents obtained from Propstack, a realty data analytics firm. This land has been leased to TCS…

InfrastructureLatest Stories

DDA Launches Demolition Drive in Sainik Farm, South Delhi

Representative AI image NEW DELHI: The Delhi Development Authority (DDA) conducted a demolition operation on Thursday in the upscale Sainik Farm area of South Delhi, as reported by officials. According to the Resident Welfare Association, the operation targeted two residential plots along Western Avenue. “This action is completely illegal. They arrived at around 5 AM and proceeded with the demolition despite our existing court stay order. This is private land, and the DDA lacks clear boundaries for the Khasra number of the plot,” asserted Hardeep Singh Bhalla, president of the Western Avenue Residents’ Welfare Association (WARWA). Bhalla pointed out that…

IndustryLatest Stories

Real Estate Private Equity Investments Hit $4.3B in FY26

NEW DELHI: In FY26, private equity investments in India’s real estate sector reached $4.3 billion, marking a 16% rise from FY25 and the highest level of activity in seven years, according to Anarock Capital’s report. During this fiscal year, 60 transactions were recorded, up from 41 in FY25, indicating a wider range of participation among investors and asset classes. The average deal size reduced to approximately $71 million, signaling a trend towards smaller, more diversified investments. The largest transaction made up only 9% of the overall deal value in FY26, a significant change from higher concentrations seen in the previous…

Latest StoriesResidential

Kanpur: 20 Arrested for Fraud in Fake PMAY Scheme

KANPUR: A significant cybercrime ring operating in a Jamtara-style has been uncovered in the Reuna village of Ghatampur, leading to the arrest of 20 gang members accused of defrauding applicants of the Pradhan Mantri Awas Yojana. Meanwhile, 17 accomplices are still at large, prompting ongoing efforts to locate them. Police Commissioner Raghubir Lal reported that the operation was initiated after receiving multiple complaints via the National Cyber Crime Reporting Portal. Acting on a tip-off, a police team proceeded to Reuna village where suspicious cyber activities were observed, resulting in the immediate arrest of 20 individuals. The police revealed that the…

Latest StoriesRegulatory

Gujarat’s stamp duty, registration revenue rises 30% to ₹19,000 crore

GANDHINAGAR: Gujarat’s revenue from stamp duty and registration fees surged by 30% year-on-year, reaching Rs 19,102.58 crore in 2025-26, an increase of nearly Rs 4,400 crore from Rs 14,706 crore in 2024-25, as per official statistics. During the financial year that ended on March 31, 2026, 18.95 lakh property documents were registered, compared to 18.77 lakh the previous year. This slight uptick in registrations, along with significant revenue growth, indicates that the registered properties had a higher value than in the prior year. Sources in the real estate sector and officials highlighted that the increase is partly due to the…