Category: Latest Stories

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CommercialLatest Stories

India Office Leasing Up 10% to 21.6M Sq Ft in Q1 2026

NEW DELHI: India’s office market achieved a gross absorption of 21.6 million sq ft across six major cities in the January-March quarter of 2026, reflecting a 10% year-on-year increase, as reported by Savills India. This growth comes against a backdrop of global economic uncertainties. The quarter also saw a 28% year-on-year decline in new supply, totaling 7.9 million sq ft, which contributed to a decrease in overall vacancy rates to 13.9% amid consistent leasing activity. The robust beginning of the year positions the total office demand for 2026 at an estimated 75 million sq ft, while supply is anticipated to…

IndustryLatest Stories

Puravankara’s Sales Soar 55% to ₹7,407 Crore in FY26

NEW DELHI: Puravankara reported a remarkable 190% year-on-year increase in sales, reaching ₹3,547 crore for the March quarter. This brings the company’s total sales for FY26 to ₹7,407 crore, a 55% rise compared to the previous fiscal year. Quarterly collections amounted to ₹1,213 crore, reflecting a 36% growth from last year, while total collections for FY26 rose by 15% to ₹4,258 crore. The company sold 7.25 million sq ft during the year, marking a 28% year-on-year increase, with average realization climbing 21% to ₹10,213 per sq ft. In the March quarter, realizations surged to ₹11,787 per sq ft. During FY26,…

Latest StoriesResidential

Mangaluru Issues Notices as Sewage Pollutes Moilykere

Representative image MANGALURU: The Mangaluru City Corporation (MCC) has issued notices to residences and apartments near the historic Moilykere lake at Mahakalipadpu, following the discovery of sewage flowing into the water body from surrounding areas. Known also as Shettibettu Kere, Moilykere was developed by the Mangaluru Urban Development Authority (MUDA) but continues to face pollution issues even after being transferred to the MCC. The civic body plans to take legal action under the Karnataka Municipal Corporations Act of 1976. The pollution problem was brought to light in the state legislature by MLC Ivan D’Souza, who highlighted it during a discussion…

InfrastructureLatest Stories

Two Firms Compete for Nagpur Metro Phase III DPR, Work Starts May

NAGPUR: The tendering process for the detailed project report (DPR) for the Nagpur Metro’s Phase 3 has progressed to the evaluation stage, with two firms participating in the bidding, as confirmed by officials. With the tender now closed, MahaMetro is conducting a technical evaluation of the bids. This critical step will assess the eligibility and capability of the firms involved. “After finishing the technical evaluation, the financial bids will be opened, and the contract will be awarded to the selected agency,” stated a MahaMetro representative. The DPR is crucial as it will outline the plan for Phase 3, which is…

CommercialLatest Stories

Engineer flags commercial use of homes in Guwahati

GUWAHATI: Guwahati Municipal Corporation (GMC) mayor Mrigen Sarania stated on Sunday that there are buildings in some areas of the city where the ground floors are utilized for commercial activities while the upper floors serve as residences. This comes as the city awaits more clarity on a Supreme Court order issued on March 25. The Supreme Court has instructed municipal corporations across all states and Union Territories to carry out an inquiry to identify areas designated solely for residential use that are being misappropriated for commercial purposes. Sarania noted that within GMC’s jurisdiction, certain buildings possess both residential and commercial…

IndustryLatest Stories

Patna Civic Body to Survey Properties to Boost Revenue and Curb Abuse

PATNA: The Patna Municipal Corporation (PMC) is launching a comprehensive survey to address the significant disparity between electricity connections and registered properties in the state capital. This initiative aims to identify unregistered properties, verify self-assessments, confirm actual occupancy status, and uncover misuse of residential properties for commercial activities. According to PMC officials, there are over five lakh electricity connections in Patna, yet only around 3.06 lakh properties are registered with the municipal body. Alarmed by this inconsistency, the urban development and housing department (UDHD) has directed a thorough survey across all sectors under PMC jurisdiction to validate these records. This…

Latest StoriesResidential

Firm Accused of Cheating Customers in Kollur Villa Scheme

HYDERABAD: Customers have accused a construction firm of fraud after it allegedly failed to deliver villas in Kollur despite collecting substantial deposits. The company reportedly enticed clients with a ‘pre-launch offer’. A criminal complaint has been filed by the Economic Offences Wing (EOW) of Cyberabad police against the company’s management under Sections 316 (criminal breach of trust) and 318 (cheating) of BNS. Authorities stated that one victim was approached by a firm representative named Rajesh, who claimed the company was launching a villa project in Kollur and invited him to their office. They detailed the project and attracted the victim…

IndustryLatest Stories

Goa: 18,000 sq meters in Bardez Converted to Settlement Zones

Representative image PANAJI: The Town and Country Planning (TCP) department continues to approve zone change proposals under Section 39A of the Town and Country Planning Act. Recently, the department greenlit the conversion of 18,629 sqm of land to settlement zones, mainly in Sircaim and Mandrem. The approvals reflect a significant concentration of land conversion activity in Bardez, with five of the six proposals located here, while Pernem holds the remaining site in Mandrem. The most extensive conversion was authorized in Sircaim, Bardez, where a developer received permission to change 5,410 sqm of orchard land to settlement. Additionally, the same applicant…

InfrastructureLatest Stories

Ludhiana Demolishes Seven Illegal Structures

Representative image LUDHIANA: In a decisive move against illegal constructions, the Municipal Corporation (MC) building branch demolished an unauthorized colony under construction in the Peeru Banda area on Friday. However, sources indicate that officials encountered significant political pressure and public backlash, forcing them to halt operations temporarily. The demolition included roads and other civic amenities related to the illegal site. In addition, seven unauthorized structures across different locations in Zone C—including Eastman Chowk, Jaspal Bangar, and Daba Road—were also addressed. The operation was initiated under the guidance of MC Commissioner Neeru Katyal Gupta and Joint Commissioner Deepjot Kaur. Out of…

Latest StoriesResidential

Ranchi: Harmu Housing Colony Targets Commercial Establishments

RANCHI: The Ranchi Municipal Corporation (RMC) is under scrutiny as it issues notices to businesses in Harmu Housing Colony for operating in residential areas, sparking concern among both traders and locals. With eight enforcement teams actively monitoring the area, officials have asserted that the colony is designated solely for residential purposes. JSHB Secretary Binay Lakra emphasized, “All these properties were allocated for residential use exclusively, and therefore, commercial establishments cannot be allowed.” Despite this claim, many businesses in Harmu have been operating for years, effectively transforming the area into a self-sufficient community. Currently, over 150 commercial units, ranging from grocery…