Category: Latest Stories

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IndustryLatest Stories

Global Investors Target GIFT City Amid West Asia Tensions

MUMBAI: Growing geopolitical tensions in West Asia are leading some global investors and non-resident Indians to reevaluate their concentrated investments in Dubai. This has resulted in increased inquiries about India’s International Financial Services Centre at GIFT City. While Dubai continues to be a major capital hub for wealth management and investments, recent market volatility is prompting a diversification strategy, as investors look for jurisdictions that offer regulatory stability and are closer to growth markets like India. “The geopolitical instability in West Asia is reflected in the rising interest for office space at GIFT City, particularly among institutions and intermediaries who…

CommercialLatest Stories

Embassy REIT Aims for 13M sq ft in Acquisitions to Boost Income

BENGALURU: Embassy Office Parks REIT, India’s first publicly listed real estate investment trust, is assessing a pipeline of 12-13 million sq ft, with around 4 million sq ft from its sponsor, as it aims to expand its portfolio and improve long-term income visibility. This decision comes after raising Rs 9,800 crore in capital during FY26 and establishing a Rs 4,000 crore development pipeline, positioning the REIT to acquire yield-accretive, income-generating Grade A assets. The trust’s real estate portfolio surpasses 50 million sq ft. “We are actively assessing a pipeline of approximately 12-13 msf… Inorganic growth will continue to be crucial…

IndustryLatest Stories

Telangana Revises Building Rules, Boosts TDR Utilization

HYDERABAD: The Telangana government has revised the Building Rules of 2012, enhancing the usage of transferable development rights (TDR) and relaxing current building parameters. These changes are expected to spur real estate activity in Hyderabad and surrounding urban areas, offering builders increased flexibility in their projects. The recent order from the Municipal Administration and Urban Development (MA&UD) department, issued in GO 95 on Saturday, clarifies the definition of high-rise buildings as those reaching 21 meters or more, excluding components like chimneys and water tanks. This adjustment comes following numerous requests to optimize TDR usage and introduce more flexible construction standards.…

Latest StoriesRegulatory

350+ government offices owe Nagpur civic body ₹145 crore in tax

NAGPUR: While the civic authority is contemplating a 10% increase in property tax to enhance revenue, the Nagpur Municipal Corporation faces significant challenges in collecting dues from central and state government departments, which collectively owe over Rs145 crore in unpaid property tax. Out of the revised target of Rs325 crore for the current fiscal year, the municipality has thus far collected Rs215 crore, leaving approximately Rs110 crore outstanding. Despite enforcing strict penalties and initiating attachment actions against individual taxpayers, several government offices have continued to delay payments for years. This poor recovery has necessitated additional resources for the civic body…

Latest StoriesRegulatory

NCLT Approves Withdrawal of Insolvency for ATS Knightsbridge

NEW DELHI: The National Company Law Tribunal (NCLT) has sanctioned the withdrawal of insolvency proceedings against ATS Knightsbridge, a residential project in Noida, following an agreement with lenders under Section 12A of the Insolvency and Bankruptcy Code (IBC). The insolvency process, initiated by ASK Trusteeship Services under section 7 of the IBC in 2023, was formally dismissed by the NCLT’s New Delhi bench on March 13, 2026. Consequently, the Corporate Insolvency Resolution Process (CIRP), which began in April 2024, has been officially concluded. The project, developed by ATS Heights, is in the advanced stages of construction, with all five towers…

Latest StoriesResidential

Chandigarh Housing Board to Increase Charges for Resumed Properties

CHANDIGARH: The Chandigarh Housing Board (CHB) has announced a proposed increase of up to 7% in restoration charges for properties that have been resumed due to unpaid dues or building violations. Previously, these charges ranged from ₹1.50 lakh to ₹2 lakh based on the floor and category of the property. Under the new structure, the charges are set to rise by an additional ₹1 lakh to ₹3 lakh in many instances. Furthermore, the revised fees will be aligned with the current collector rates, which may significantly impact smaller or lower-category properties. CHB has indicated that the current restoration fees are…

Latest StoriesRegulatory

Vedanta Challenges NCLT Approval of Adani’s Jaiprakash Bid

NEW DELHI: The Vedanta Group, a major business conglomerate, has approached the National Company Law Appellate Tribunal (NCLAT), disputing the approval given by the NCLT to the Adani Group’s bid for acquiring Jaiprakash Associates Ltd for ₹14,535 crore. Led by Anil Agarwal, Vedanta was also contending for the acquisition of Jaiprakash Associates Ltd (JAL) via an insolvency procedure. However, in November last year, lenders approved Adani Enterprises Ltd’s resolution plan. On March 17, the Allahabad bench of the National Company Law Tribunal (NCLT) officially sanctioned Adani Enterprises Ltd’s ₹14,535 crore bid for JAL during the insolvency proceedings. JAL announced in…

InfrastructureLatest Stories

Yamuna Expressway Authority Approves ₹11,829 Crore Budget

NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) has approved an annual budget of Rs 11,829 crore for the fiscal year 2026-27, focusing on land acquisition and infrastructure development surrounding the new Noida International Airport. A considerable part of the budget, approximately Rs 8,000 crore, is allocated for land acquisition aimed at establishing an industrial and urban ecosystem near the airport. Additionally, Rs 2,011 crore is designated for development and construction in Yamuna City, with Rs 502 crore allocated for the airport itself and Rs 300 crore for multi-modal connectivity initiatives. The decisions were made during YEIDA’s 89th board meeting…

InfrastructureLatest Stories

Jaipur Development Body’s Expansion Lacks Benefit for Outskirts

JAIPUR: Approximately three months ago, residents of a substantial residential complex along Ajmer Road encountered a significant issue. Despite the efforts of the residents’ welfare association (RWA) to clean the complex’s sewerage tank, all attempts proved ineffective. As the complex fell outside the jurisdiction of the Jaipur Municipal Corporation, RWA members were unable to persuade the civic body to address the cleaning. Both the local panchayat and Jaipur Development Authority (JDA) informed them that they do not extend services to individual households. In Jaipur’s suburban colonies and residential projects, residents persistently grapple with a lack of essential civic amenities. Urban…

Latest StoriesRegulatory

Nashik: 439 Issued Notices for Plot Sub-Division Issues

Representative AI image NASHIK: The Nashik office of the assistant collector and sub-divisional officer (SDO) has issued revision notices to 439 individuals connected to 49 disputed land transactions, invoking Section 257 of the Maharashtra Land Revenue Code (MLRC), 1966. This action follows a revision application from the Nashik tehsildar, which has asked landholders to provide valid documentation for the alleged sub-division of their plots. These notices, dated March 18 and signed by naib tehsildar Jitendra Dhanrale, pertain to properties across various areas including Adgaon, Deolali, Wadner Dumala, Panchak, Mhasrul, Nandur Dasak, Gangapur, and Chincholi. According to additional tahsildar Amol Nikam,…