Category: Latest Stories

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InfrastructureLatest Stories

74 ‘highly dangerous’ buildings in Vasai-Virar to be vacated

Representative AI image VASAI: The Vasai Virar City Municipal Corporation (VVCMC) has ordered residents of 74 buildings deemed “C-1” (highly dangerous) to vacate immediately due to the ongoing monsoon season and the potential risk of structural collapse. Municipal Commissioner Prithviraj BP issued this directive following a recent structural assessment that identified these buildings as uninhabitable. Notices have been sent to both occupants and owners, instructing them to move to safer locations without delay. Amid persistent rainfall and strong winds over the past days, concerns regarding the stability of ageing and weak structures throughout the city have intensified. Several older residential…

InfrastructureLatest Stories

Indian Cities Require $2.4 Trillion by 2050: Report

Sure! Here’s a rewritten version of the content: — Representative AI image NEW DELHI: A report by FICCI and EY estimates that Indian cities will need approximately $2.4 trillion by 2050 to achieve climate resilience and low-carbon status. So far, only 20 municipal corporations have tapped into the capital markets, collectively raising around $476 million. While urban areas account for over 60% of India’s GDP from about one-third of the population, municipal corporations generate revenues equivalent to merely 0.6% of the GDP, according to the report. India’s urban infrastructure needs are projected at about $840 billion over the next 15…

CommercialLatest Stories

Lloyds Realty Leases 182K Sq Ft Mumbai Office to Smartworks

Representative AI image NEW DELHI: Lloyds Realty Developers has entered into a 15-year lease agreement with Smartworks Coworking Spaces for its commercial property, The Square, located in Andheri East, Mumbai. This lease encompasses the full 1,82,300 sq ft of the building, achieving 100% occupancy for the asset. The deal is expected to generate rental income exceeding ₹600 crore throughout the lease period. The Square, designed by Panthaki Architects, features three basement levels, a ground floor, and nine office floors. It also includes a cafe space on the ground floor, a landscaped terrace garden, and mechanized shuttle parking. Published on Jul…

CommercialLatest Stories

Knowledge Realty Trust’s Q1 FY27 NOI Up 15% to ₹1,111.7 Crore

NEW DELHI: Knowledge Realty Trust reported a 15% year-on-year revenue increase to ₹1,243.10 crore for the quarter ending June 30, 2026. Its net operating income also rose by 15%, reaching ₹1,111.70 crore. The total net consolidated income amounted to ₹1,268.14 crore for Q1 FY27, with a net consolidated profit after tax of ₹250.79 crore. The board of directors at Knowledge Realty Office Management Services, responsible for managing Knowledge Realty Trust, has approved a distribution of ₹751.63 crore, translating to ₹1.695 per unit for the quarter. This distribution includes ₹408.85 crore (₹0.922 per unit) as dividends, ₹123.28 crore (₹0.278 per unit)…

InfrastructureLatest Stories

Mumbai: BMC Panel to Lease Mulund Dump for Dharavi Project

Representative AI image MUMBAI: The BMC has proposed leasing 15 acres of reclaimed land at the Mulund dumping ground to the Dharavi Redevelopment Project (DRP) for five years. This will establish a casting yard, a precast element manufacturing facility, and a ready-mix concrete (RMC) plant, generating an expected rental income of around Rs 103.47 crore during the lease term. The plan, cleared by civic administration, will be discussed at the Improvement Committee meeting scheduled for Tuesday afternoon. It involves leasing 60,703 sq m of land to Navbharat Mega Developers Pvt Ltd, which has been appointed by the state government to…

InfrastructureLatest Stories

BMC Panel to Decide on 3,169 Trees for Dharavi Projects

Representative AI image MUMBAI: The BMC’s Tree Authority will review proposals concerning 3,169 trees in an upcoming meeting on Tuesday, which includes requests to fell 1,777 trees and to transplant 1,392 others for various infrastructure and redevelopment initiatives in Mumbai. Notable proposals include the construction of an underground tunnel between Orange Gate and Marine Drive, the Dharavi redevelopment project, housing plans from IIT Bombay in Powai, and a slum rehabilitation scheme in Ghatkopar. The most significant proposal involves the Dharavi Redevelopment Project (DRP). Navbharat Mega Developers Pvt Ltd is seeking to clear 1,693 trees impacted by excavation for rehabilitation buildings…

IndustryLatest Stories

Haryana: HSVP Official Required for Auction Plot Registration

Representative AI image GURUGRAM: Buyers of plots auctioned by the Haryana Shahari Vikas Pradhikaran (HSVP) will now need the physical presence of an authorized official. Due to a procedural change implemented by the revenue department, an HSVP official must be present at the tehsil office for the registration of sale deeds. This updated requirement applies exclusively to properties directly sold by HSVP, such as plots obtained through e-auctions, and does not pertain to resale transactions between private individuals. However, this change has raised concerns among buyers and HSVP officials regarding potential delays. SDM Sanjeev Singla mentioned that discussions have already…

CommercialLatest Stories

Jaipur body identifies 6,000 illegal commercial units on homes

Representative AI image JAIPUR: The Jaipur Development Authority (JDA) plans to present an audit to the Supreme Court that identifies over 6,000 commercial establishments allegedly violating land-use regulations by operating from residential plots, as per the court’s directives aimed at curbing unauthorized commercial activities. According to JDA enforcement wing DIG Anand Sharma, the audit has been finalized, detailing the violations and actions taken thus far. “We will send this report to the Supreme Court. We will continue to take further action against these violations following the court’s instructions at the next hearing,” Sharma informed TOI. “The audit documented data starting…

Latest StoriesRera

Haryana RERA mandates builders to compensate buyers for delays

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has reaffirmed the right of homebuyers to seek compensation for delayed possession in the Sovereign Floors at Alba, Esencia, Sector 67, and Coban Residencies, Sector 99A. In the case of Sovereign Floors, Rera ordered New Look Builders & Developers Pvt Ltd to compensate Rs 39.7 lakh, along with Rs 1 lakh for mental anguish and Rs 50,000 to cover litigation costs. The buyer had booked a residential floor in 2011, expecting possession by August 2014, but the project remained unfinished. The buyer eventually withdrew in May 2023. Although HRera had previously mandated…

CommercialLatest Stories

Telangana Eases Rules for High-Rise Projects in Jubilee Hills

Sure! Here’s a rewritten version of the content: — Representative AI image HYDERABAD: The state government has approved a special relaxation for the construction of a commercial high-rise building on three adjacent plots in Jubilee Hills. This approval allows for increased height and other concessions under specific conditions. A Government Order (GO) issued by the metropolitan area and urban development department on Monday confirmed the request from CG Murali Mohan and others for the development of the commercial property on Road No. 10. The decision came after a thorough review of the applicants’ submission, a factual report from the Greater…