Category: Latest Stories

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IndustryLatest Stories

Bhumika Group to invest ₹700 crore in Faridabad project

NEW DELHI: Bhumika Group has unveiled a mixed-use project named The Icon in Faridabad, with a substantial investment of ₹700 crore and an anticipated sales revenue of around ₹1,500 crore. The development will consist of 88 upscale low-density residential units in 3BHK + study configurations, as well as staff accommodation. The overall construction phase is projected to last four years and three months, with all 88 residential units included in the initial launch. Phase II will introduce a hotel tower with suites. Residential units are priced at ₹15,500 per sq. ft., and retail spaces are available for lease at ₹200–250…

IndustryLatest Stories

BNW Developments, Enlightened Minds Launch $27M UAE Fund

NEW DELHI: BNW Developments and Enlightened Minds Investments have partnered as co-general partners to launch the BNW Real Estate Fund, achieving capital commitments of USD 27 million. This fund aims to support real estate development in the UAE. The investments will focus on three primary areas: land acquisition, completion financing for advanced projects, and the development of branded, purpose-built real estate assets. The fund anticipates an 18% annual return, with 8% distributed yearly and the remainder expected upon exit. Published On Dec 11, 2025 at 01:30 PM IST Join over 2 million industry professionals. Subscribe to our newsletter for the…

IndustryLatest Stories

Ekta World Pays Back ₹170 Crore to ICICI Bank

NEW DELHI: Ekta World has successfully repaid ₹170 crore to ICICI Bank through scheduled repayments, supported entirely by sales and collections from its Ekta Tripolis development. The project, which features three towers and over 600 units, is now complete, with possession already handed over to 503 families. This repayment has effectively reduced the group’s overall debt. In the past year, the company has successfully closed two residential and two commercial redevelopment projects in Bandra, Khar, and Santacruz, while continuing to focus on assets valued above $1 million. Published On Dec 11, 2025 at 03:30 PM IST Join a community of…

InfrastructureLatest Stories

Jaipur Metro Phase-II DPR Approved by Public Investment Board

JAIPUR: The detailed project report (DPR) for Phase-2 of the Jaipur Metro Rail Project received approval on Thursday during a Public Investment Board (PIB) meeting, chaired by the secretary of the Department of Expenditure in the Union Ministry of Finance. Senior officials from various central ministries were present at the meeting. With PIB’s approval, the project now advances to the next stage, where a detailed cabinet note will be drafted. This note will first be submitted to the Union Ministry of Housing and Urban Affairs for approval before being forwarded to the Ministry of Finance. Following this, the proposal will…

Latest StoriesRegulatory

Hyderabad: Builder Cited for Illegal Parking Layout Changes

HYDERABAD: The Ranga Reddy District Consumer Disputes Redressal Commission has ordered a builder in Bowrampet to provide a legally sanctioned car parking space to a flat owner. This ruling follows revelations that the developer had improperly modified the stilt-floor layout of Pinewood Apartments, leading to ongoing disputes among residents. The complainant, who purchased flat no. 303 for ₹25.91 lakh in February 2022, noted that the sale deed specifically included a car parking slot. Upon moving in, however, he found that the builder had deviated from the HMDA-approved design. The initial plan allowed for 10 car parking spaces with two driveways,…

IndustryLatest Stories

Quicker Mill Land Redevelopment in Mumbai: Maharashtra’s New Rules

AI Representation Image NAGPUR: Maharashtra’s Deputy Chief Minister Eknath Shinde announced on Thursday that the redevelopment of aging structures on Mumbai’s mill lands will be accelerated, following government approval of a proposal to amend the development regulations. During a legislative assembly session, Shinde, who oversees urban development, pointed out that the current regulations lack an additional incentive in Floor Space Index (FSI) for builders to engage in redevelopment projects. “Many residential buildings and chawls (tenements) in these areas are deteriorating and pose safety risks. Therefore, the government has opted to amend the rules to foster redevelopment. A proposed amendment under…

InfrastructureLatest Stories

Gurugram: Illegal Colonies Demolished Near KMP Expressway

GURUGRAM: The Department of Town and Country Planning (DTCP) has launched a demolition initiative targeting unauthorized colonies in Sultanpur and near the KMP Expressway. Officials reported that this action is part of a renewed effort to eliminate illegal plotting and construction in the KMP area, where rising property values have led to an influx of unregulated settlements. Accompanied by police forces, officials dismantled a 6-acre unauthorized colony, removing four DPC structures, boundary walls, and a road system. Developers had erected these illegal buildings to attract unsuspecting buyers, with such “preliminary plotting” often misleading investors into believing they had government approval…

IndustryLatest Stories

Sebi Expands Strategic Investor Definition for REITs, InvITs

NEW DELHI: The Securities and Exchange Board of India (Sebi) has expanded the definition of “strategic investor” for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), aiming to enhance investor participation in their public offerings. This revised criteria will facilitate capital attraction for these trusts, promote flexibility, and overall ease of business operations. Sebi identified that the previous definition of strategic investor was too limited, excluding significant institutional investors like pension funds, provident funds, and insurance funds. While these entities are active in REITs and InvITs due to their interest in long-term, stable income-generating assets, they were not…

IndustryLatest Stories

Bihar Launches Program to Resolve Land Disputes

PATNA: On Wednesday, Revenue and Land Reforms Minister Vijay Kumar Sinha announced the launch of a new initiative titled ‘Bhumi Sudhar Samvad’ (Land Reforms Dialogue) on December 12. This program aims to assist citizens in resolving land-related issues and updating their documents. A dedicated team named ‘Udan Dasta’ will be established to oversee and prevent land fraud. Sinha noted that the department has received approximately 46 lakh applications concerning land disputes, with nearly 12 lakh already resolved and documented on the portal. “The government is committed to addressing land disputes at the grassroots level while ensuring transparency,” he stated. During…

CommercialLatest Stories

MPIDC Secures Approval for 300 Hectares in Indore-Pithampur Corridor

Representative image INDORE: The Madhya Pradesh Industrial Development Corporation (MPIDC) has secured agreement from landowners for approximately 300 hectares as part of the land pooling initiative for the planned 19.60 km Indore–Pithampur Economic Corridor, marking a major milestone in this high-value infrastructure project. The estimated cost of the corridor exceeds Rs 2,400 crore and is designed to enhance connectivity between Indore and Pithampur, a key industrial hub in the state. Officials stated that the corridor encompasses a total planning area of 1,177 hectares, comprising 954 hectares of private land across 17 villages and 222 hectares of government land. To date,…