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IndustryLatest Stories

Karnataka Seeks Taller Building Norms Near Bengaluru Airports

File Photo BENGALURU: Deputy Chief Minister of Karnataka, DK Shivakumar, has requested the Centre to reevaluate and ease height restrictions for buildings near essential aviation facilities in Bengaluru, emphasizing their influence on urban development and real estate. Following his meeting with Union Civil Aviation Minister Kinjarapu Ram Mohan Naidu, Shivakumar stated that the state aims to have similar building height allowances as cities like Hyderabad and Mumbai, which permit taller structures, according to a government release. “We discussed raising the building height limits in Bengaluru. Builders are hesitant to invest in premium Floor Area Ratio (FAR) because of these restrictions.…

CommercialLatest Stories

Quest Coworks buys 57,000 sq ft office in Andheri, Mumbai

Representative Image MUMBAI: Quest Coworks, a flexible workspace provider, has acquired over 57,000 sq ft of office space from Capgemini Technology Services India at Akruti Softech Park, located in MIDC’s Marol Industrial Area, Andheri (East). The transaction is valued at Rs 55.83 crore. This deal, registered on March 16, includes five office units across multiple floors of the commercial property, with a total stamp duty of Rs 3.58 crore paid by the buyer. The largest unit, measuring 11,885 sq ft on the fourth floor, was purchased for Rs 11.52 crore and incurred a stamp duty of Rs 72.38 lakh. The…

IndustryLatest Stories

CIDCO to Develop 126-Acre Industrial Township in Palghar

Representative AI image MUMBAI: The Maharashtra government’s City and Industrial Development Corporation (CIDCO) is set to create a significant industrial township in Palghar, part of a broader initiative by Mantralaya to establish a ‘Fourth Mumbai’ in the Palghar-Vadhavan-Boisar area. To facilitate this, CIDCO has called for bids from real estate companies for long-term leases of 126.6 acres of land in this developing sector of the Mumbai Metropolitan Region (MMR). The planned industrial township is expected to be centered around the future Vadhavan port, a major infrastructure project designed to serve as a critical trade and logistics hub on India’s western…

Latest StoriesRegulatory

Maharashtra Registrations Department Hits 90% Revenue Goal

PUNE: The state’s department of registration and stamps is approaching its annual revenue goal, achieving almost 90% as the 2025-26 fiscal year nears its end. As of March 15, the department has raised ₹56,159.05 crore, which is around 88.4% of its ₹63,500 crore target. According to official statistics, a total of 43.12 lakh documents have been registered this fiscal year, already matching the complete count from the previous year (2024-25), which also recorded 43.12 lakh registrations and generated ₹58,266.07 crore against a lower target of ₹55,000 crore. Registration officials reported steady property transactions, averaging three to four lakh documents registered…

IndustryLatest Stories

Godrej Properties buys 20-acre site in Bengaluru

NEW DELHI: Godrej Properties (GPL) has completed the acquisition of a 20-acre land parcel in East Bengaluru, as reported in a filing to the BSE. The company intends to develop a premium residential project on this site, with an estimated revenue potential of around ₹1,350 crore. Additionally, GPL has recently acquired a 44-acre land parcel in Coimbatore through an outright purchase, aiming to develop a premium plotted residential project with a developable area of 1.1 million sq ft and an estimated revenue potential of ₹450 crore. This marks GPL’s entry into the Coimbatore market. Published on Mar 18, 2026 at…

Latest StoriesResidential

Andhra Pradesh Offers 50% Waiver on Property Tax Dues

VIJAYAWADA: The state government announced on Tuesday a one-time 50% waiver on interest for accumulated property tax arrears for the financial year 2025-26 across all municipalities and municipal corporations. This waiver is accessible to taxpayers who pay 100% of the principal property tax dues, as well as the remaining 50% interest, in a single lump-sum payment by March 31. The government specified that this offer is time-limited and will not be extended. Additionally, any interest that has already been paid will not be refunded and can only be adjusted against future tax demands as per existing provisions. Property tax is…

IndustryLatest Stories

Gulshan Group to invest ₹3,300 crore in five NCR projects

Representative AI image NEW DELHI: Gulshan Group is set to invest approximately ₹3,300 crore in five projects across the National Capital Region (NCR) during the financial year 2026-27, aiming to enhance its footprint in both luxury and mid-income housing segments. The company plans to allocate around ₹1,000 crore for a project featuring a Taj-branded hotel and serviced apartments in Sector 129, Noida, in collaboration with the Indian Hotels Company (IHCL). This development will include a 150-room luxury hotel and 74 serviced apartments, with sizes around 7,500 sq ft. Apartment prices are projected to fall between ₹35 crore and ₹100 crore.…

InfrastructureLatest Stories

HYDRAA Acquires 11 Acres of Government Land in Hyderabad

Representative AI image HYDERABAD: The Hyderabad Disaster Response and Asset Protection Agency (HYDRAA) has reclaimed 11 acres of government and public-use land in the city, following reports of encroachments. Officials estimate the market value of the reclaimed land to be approximately Rs 1,650 crore. Among this, two acres in Kondapur have been designated for a public park. This area is part of the Central Park Colony layout established in 1998. Although the municipal authorities had previously designated this space and erected a boundary, residents reported ongoing attempts by individuals to encroach on the land and faced intimidation when they resisted.…

CommercialLatest Stories

US Bancorp Discusses 650K Sq Ft Lease in Chennai for GCC

BENGALURU: US Bancorp is negotiating to lease over 650,000 sq ft of office space in Chennai as it establishes its first global capability center (GCC) in India, marking a significant entry into the country’s flourishing offshore operations sector. The proposed office will be located at Embassy Tech Splendid, a commercial campus owned by Embassy Office Parks REIT, using a build-operate-transfer service model with Cognizant Technology Solutions, according to sources involved in the discussion. Under this arrangement, Cognizant will initially manage the center before transferring full operations to the bank. The estimated monthly rental is between Rs 4.5-5 crore, indicating a…

CommercialLatest Stories

WeWork India to add 4,100 desks in Bengaluru with ₹60 crore

NEW DELHI: WeWork India Management has finalized two lease agreements in Bengaluru to enhance its flexible workspace offerings, adding over 4,100 desks across more than 246,000 sq ft of office space, as stated in a regulatory filing. The company has secured leases for 95,351 sq ft and 151,201 sq ft of space in separate transactions, with operations expected to commence by June 2026. WeWork plans to invest around ₹60 crore: ₹28 crore for the first facility and ₹32 crore for the second, funded through a combination of internal resources and debt. This expansion will introduce approximately 1,829 desks in one…