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IndustryLatest Stories

Railway secures ₹1,368 crore bid for 6-acre land in Mumbai

Representative Image The Railway Land Development Authority (RLDA) has received a bid of Rs 1,368 crore for redeveloping the Supari Baug colony, a nearly six-acre land parcel located in central Mumbai’s Parel area, according to sources familiar with the matter. Dineshchandra R Agrawal Infracon is the sole bidder for this land, which will be redeveloped under a revenue share model through a long-term lease. The reserve price for the plot, which will be granted via a 99-year lease, was set at Rs 1,343 crore. The Supari Baug tender initially garnered interest due to its size and prime location in Parel,…

Housing FinanceLatest Stories

RBI Urges NBFCs, HFCs to Uphold Underwriting Standards

Sure! Here’s a rewritten version of the content you provided: MUMBAI: On Monday, Reserve Bank Governor Sanjay Malhotra emphasized the necessity for robust underwriting standards and meticulous asset quality monitoring during a meeting with senior officials from selected non-banking financial companies (NBFCs). This engagement is part of the Reserve Bank’s ongoing dialogue with regulated entities. The Governor convened with managing directors and chief executive officers (MDs and CEOs) of various NBFCs, including government-backed firms, housing finance companies (HFCs), and microfinance institutions. In his opening remarks, the Governor acknowledged the vital role NBFCs and HFCs play in promoting credit flow. He…

InfrastructureLatest Stories

Kolkata Civic Body Launches Drive to Demolish Unsafe Buildings

KOLKATA: In response to the Shamsul Huda Road building collapse, the Kolkata Municipal Corporation (KMC) is initiating a comprehensive campaign to demolish unsafe and decrepit buildings throughout the city. The KMC Buildings Department plans to use specific powers to demolish structures posing risks to both residents and pedestrians. An official from the KMC Buildings Department disclosed that assistance will be sought through an express order—authorized under section 411(4) of the KMC Buildings Rule—allowing the civic body to dismantle unsecured portions of dilapidated structures deemed irreparable. A prior survey identified buildings vulnerable to collapse, particularly during heavy rainfall. “We have identified…

Latest StoriesRegulatory

SC Requests Uttarakhand to Report on Illegal Forest Land Constructions

NEW DELHI: The Supreme Court criticized the Uttarakhand government for “persistent negligence” and requested a detailed report including a site plan that outlines illegal constructions on forest land in the state. A bench consisting of Chief Justice Surya Kant and Justice Joymalya Bagchi highlighted their serious concerns over the large-scale and systematic encroachment on forest land in Uttarakhand. They indicated plans to broaden the scope of legal proceedings to investigate the failure of state authorities to protect these lands. The court remarked that state officials seemed to collude with land grabbers, allowing encroachments and then attempting to legitimize them through…

Latest StoriesRegulatory

FIR Filed Against Aiko Builders’ Director in ₹30 Crore Scam

MUMBAI: Neeraj Vora, the director of Aiko Builders Pvt Ltd, has been accused of defrauding a construction entrepreneur in Vasai of Rs 30 crore related to a real estate transaction concerning a plot in Mira Road. The Manikpur Police registered a First Information Report (FIR) against Vora on allegations of cheating and forgery. The complainant, Akash Gupta, reported that in 2021, Vora approached him for funding to develop a two-acre parcel of land at Mira Road, promising allocation of 1 lakh sq ft at a price of Rs 2,970 per sq ft. Vora purportedly claimed to own the land and…

Latest StoriesResidential

Karnataka Eases Setback Rules for Small Bengaluru Plots

Representative Image BENGALURU: A pivotal move to reshape home construction in Bengaluru was announced by the government on Monday, introducing modifications to longstanding building regulations for smaller residential plots. This adjustment alleviates certain burdensome rules that have affected property owners for years. The Urban Development Department (UDD) has revised the 2015 master plan to amend setback regulations for residential buildings on plots up to 4,000 square meters. As part of this new framework, the UDD has customized setback requirements based on plot size. For plots measuring 60 square meters (20x30ft), the front setback has been reduced to 0.7 meters, with…

Latest StoriesRegulatory

Supreme Court: More FAR in Bengaluru will worsen civic issues

NEW DELHI: The Supreme Court raised concerns on Monday regarding the Karnataka government’s approval of Premium Floor Area Ratio (PFAR) for construction. This decision could facilitate the erection of multistoried buildings on narrow 9-metre-wide roads in Bengaluru, exacerbating the city’s already strained civic amenities. A bench comprising CJI Surya Kant and Justice Joymalya Bagchi expressed, “Allowing PFAR would enable construction on narrow roads. Builders may entice flat buyers with appealing offers, but what about civic amenities? While increased FAR might be justifiable in newly developed areas, granting such permissions in established residential zones would strain these amenities. What happens to…

IndustryLatest Stories

Runwal Enterprises buys 200 acres in Alibaug for ₹20,000 crore

Here’s a revised version of the content: — Representative AI image Real estate developer Runwal Enterprises has secured a 200-acre land parcel in the coastal town of Alibaug, situated near Mumbai. This acquisition is part of a ₹20,000 crore integrated township project authorized under the Maharashtra Regional and Town Planning (MR&TP) Act of 1966, which regulates large-scale and mixed-use developments in the region. Led by Subodh Runwal, the firm aims to roll out a project that incorporates both residential and commercial facets. Plans include a five-star hotel and social amenities like a golf course, subject to compliance with planning regulations…

CommercialLatest Stories

India’s Office Market Sees 61M sq ft Net Absorption in 2025

NEW DELHI: India’s office market achieved its best performance ever in 2025, with net absorption reaching 61.4 million sq ft, a 25% increase compared to the previous year, according to a report by Cushman & Wakefield. Bengaluru topped the absorption figures at 14.4 million sq ft, representing 23% of total demand. Delhi NCR followed with 10.9 million sq ft (18%). Other cities, such as Mumbai (9.6 million sq ft), Hyderabad (9.1 million sq ft), Pune (8.2 million sq ft), and Chennai (7.0 million sq ft), also showed robust leasing activity. Kolkata and Ahmedabad recorded net absorptions of 1.4 million sq…

InfrastructureLatest Stories

Jaipur: LSG to Request Demolition Costs for 20 Chomu Buildings

Representative AI image JAIPUR: A significant demolition operation took place on Friday, targeting 20 buildings near a mosque in Chomu town. The local self-governance department plans to issue recovery notices to the owners of these demolished structures to cover the costs incurred during the demolition. This action was prompted by allegations of the owners’ involvement in stone-pelting incidents on the night of December 25-26. A senior official from the local self-governance department stated on Saturday, “Typically, recovery notices are issued by the Jaipur Development Authority (JDA) and the Jaipur Municipal Corporation (JMC) in such cases. This process ensures that errant…