Category: Latest Stories

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IndustryLatest Stories

CEO: 50% of GIFT City Land Allotted

Representative AI image AHMEDABAD: The Gujarat International Finance Tec-City (GIFT) has seen significant growth recently due to increasing demand. According to MD and Group CEO Sanjay Kaul, development rights for approximately 29 million square feet, or about 50% of the planned built-up area, have been allocated. Kaul reported that in the last quarter alone, over 100 entities opted to establish their presence at GIFT City, marking the highest quarterly figure to date. “GIFT City is India’s only fully operational smart city and global financial services center. With ongoing policy reforms, it is emerging as a hub for finance, technology, Alternative…

Latest StoriesResidential

How Far Will Chandigarh Go to Ensure Affordable Housing?

CHANDIGARH: The urban planning department has proposed to raise the Floor Area Ratio (FAR) for the long-awaited housing scheme in Sector 53 from 1.5 to 2. This change is anticipated to enhance the usable space within flats, potentially lowering prices and providing relief to the many applicants eager for the project to commence. The recommendation was delivered last week following the department’s review of the Chandigarh Housing Board’s (CHB) request, which considered technical parameters and master plan standards. This decision came after a meeting led by Punjab governor and UT administrator Gulab Chand Kataria on September 11, where the issues…

Latest StoriesRegulatory

NGT Calls Officials, Developer Over Waste Spill Incident

MOHALI: The National Green Tribunal (NGT) issued a stern warning to multiple government bodies and a private developer, summoning senior officials from Gmada, the gram panchayat of Green Enclave Kharar, and the developer group. This comes after their failure to curb the discharge of untreated wastewater that has been pooling for over a year in an open area near Daun Majra village, Kharar. The case arose when Vijay Kumar Pathania submitted a petition on January 11, 2024, alleging the dumping of sewage from Green Enclave on open land, adversely affecting his nearby residence adjacent to the TDI project. Following the…

IndustryLatest Stories

Chandigarh IT Park Development Project Stalled

CHANDIGARH: The UT urban planning department has declined to approve the Chandigarh Housing Board’s (CHB) proposal for plotted housing development in the Rajiv Gandhi Chandigarh Technology Park (RGCTP). The department referenced the Chandigarh Master Plan (CMP) 2031, which forbids individual plotted development in the city. This decision was shared last week, requiring CHB to reassess its IT Park housing scheme. CHB had put forward a comprehensive proposal intending to replace the previous group housing model with individual plots for sale at the IT Park. However, the urban planning department’s recent communication explicitly stated: “According to the notified Chandigarh Master Plan…

Latest StoriesRegulatory

Karnataka HC Sets Guidelines for Auto-Updating Civil Court Decrees

BENGALURU: The High Court has issued guidelines aimed at integrating civil court decrees into the state’s digital revenue systems, ensuring that judicially declared rights are promptly reflected in land records. Justice Sachin Shankar Magadum has launched a new workflow, titled ‘Mutation based on Civil Court Decree’ in Kaveri 2.0, designed to streamline decree-based mutations and reduce uncertainties for revenue authorities. Under this new module, the departments of stamps and registration alongside the revenue department, in cooperation with the Centre for Smart Governance, will verify decrees, automatically generate mutation requests to Bhoomi, and facilitate the recording of proportional shares in the…

IndustryLatest Stories

Noida: YEIDA Notifies 366 Allottees on Registry Delay

Representative AI image NOIDA: In a significant move to address longstanding industrial allotments, the Yamuna Expressway Industrial Development Authority (YEIDA) has issued notices to 366 plot allottees, requiring them to complete their lease deeds within 10 days or face cancellation. According to officials, allottees were previously provided a checklist of required documents for lease deed execution. However, many have failed to complete the registration process despite multiple reminders. Incomplete registrations have delayed the possession of industrial plots throughout Yamuna City, hindering manufacturing efforts in a region where the state government is actively promoting industrial growth. “Executing the registry is crucial;…

Latest StoriesResidential

Embassy Developments to Unveil 6 Residential Projects in North Bengaluru

NEW DELHI: Embassy Developments is set to launch six new residential projects worth ₹10,300 crore in North Bengaluru by FY26. Aditya Virwani, the company’s Managing Director, stated, “With RERA approval for two projects, we are entering an exciting growth stage, confident in reaching our pre-sales target of around ₹5,000 crore for FY26.” Among the new developments are Embassy Greenshore and Embassy Verde Phase II, both part of the ambitious Embassy Springs integrated township. Embassy Greenshore will feature over 800 apartments in 2BHK, 3BHK, and 4BHK layouts. Additionally, the third project, spanning 10 acres in Hebbal, will include over 600 residences…

Latest StoriesResidential

Lucknow to Launch IT City Housing Project in January 2026

LUCKNOW: The LDA will commence its IT City project on Sultanpur Road in January, allowing land donors the first opportunity to choose plots via a lottery. This initiative will be integrated with forthcoming housing projects, such as Anantnagar, Naimaishnagar, Varun Vihar, and Education City. The IT City project, covering 2,660 acres, will utilize a land pooling model where donors will receive 25% of the developed land in exchange—a value the LDA claims surpasses standard compensation. Approximately 10,000 residential plots are being established, designed to accommodate nearly 100,000 residents once completed. Following the January lottery for land donors, the remaining plots…

InfrastructureLatest Stories

Concerns Over SC’s 100-Metre Mining Definition for Aravali Watchers

NEW DELHI | GURUGRAM: The Supreme Court’s endorsement of the Union Environment Ministry’s definition of the Aravalis as hills rising at least 100 metres in elevation has raised alarm among environmentalists. They fear it may influence broader applications beyond mining. The ongoing drafting of the NCR master plan – Regional Plan 2041 – is crucial, as the classification of the Aravalis will play a pivotal role in safeguarding natural conservation zones (NCZ). Recently, the Haryana government proposed a definition for the Aravalis that incorporates minimum age and height criteria set by the mining department. This definition only acknowledges hills with…

CommercialLatest Stories

DAMAC Group Launches New GCC in Noida, Plans Pune Facility

NEW DELHI: The UAE-based DAMAC Group has introduced its new global services division, DAMAC Shared Services India (DSSI), and set up a Global Capability Center (GCC) in Noida. Hussain Sajwani, the company’s founder, remarked, “We are dedicated to developing high-performing teams by 2026, providing superior services to advance DAMAC’s global goals.” The Noida GCC will employ over 250 individuals, with plans to establish another GCC in Pune by 2026, which will have more than 100 staff members. M.P. John, the company’s Chief Human Capital Officer, stated, “We are investing in India’s workforce capabilities and creating a services center that will…