Category: Latest Stories

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IndustryLatest Stories

Mumbai: MHADA Lawyer’s Role in Girgaum Redevelopment Delay

MUMBAI: A confidential report from MHADA’s legal department has confirmed that the critical Section 79A notice issued to Parekh Estate Pvt Ltd has never been revoked. This contradicts earlier claims made by MHADA panel advocate Priyanka Chavan during a writ petition in front of the Bombay High Court this year. According to an internal memo dated November 14, 2025, “the 79A notice issued to the landlord…has not been revoked by this office.” It further indicates that there are no documents reflecting any revocation and that the matter falls under the jurisdiction of the Dy. Chief Engineer (Zone II), not the…

CommercialLatest Stories

Puravankara Leases 1.2 Lakh Sq Ft Retail to Ikea in Bengaluru

NEW DELHI: Puravankara has entered into a lease agreement (ATL) with Ikea India for over 1.2 lakh sq ft of retail space at Purva Zentech Park on Kanakapura Road, Bengaluru. Purva Zentech Park is a mixed-use commercial project featuring approximately 9.6 lakh sq ft of leasable and saleable area. Currently under construction, it is expected to be completed by early 2026. Ikea will take up the first and second floors, with the space slated to be handed over in Q1 2026, and operations planned to begin thereafter. Ikea India has opted not to comment. Colliers India’s office services team facilitated…

IndustryLatest Stories

Goa to Profit from Sale of Comunidade, Housing Board Land

Representative AI image PANAJI: In response to revenue losses from the sale of plots by comunidades and the Goa Housing Board (GHB), the state government has mandated that comunidades execute conveyance deeds at 50% below the minimum land rates and collect stamp duty based on GHB-determined rates. According to under secretary (revenue-I) Vrushika Kauthankar, “For comunidade land, the minimum land values for areas up to 400sqm in S1 to S4 zones will see a 50% reduction.” Revenue Minister Atanasio ‘Babush’ Monserrate stated that comunidades collect ‘foro’ for plots allotted to beneficiaries over 20 years, generating no revenue for the government.…

CommercialLatest Stories

Jaguar Land Rover Leases 146,000 Sq Ft at Brigade Tech Gardens

Jaguar Land Rover Technology and Business Services India has leased 146,000 sq ft of office space at Brigade Tech Gardens in Bengaluru, marking a significant GCC-driven transaction. Documents indicate that the lease encompasses multiple floors: parts of the ground and first floors, along with the entirety of the fifth and eighth floors, substantially expanding Jaguar Land Rover’s presence at the Brookefield campus. The lease entails a warm-shell rental of ₹65 per sq ft per month, with the total estimated monthly expenditure, including fit-out costs, at around ₹1.67 crore. Jaguar Land Rover has committed to a five-year term with a security…

InfrastructureLatest Stories

Gurugram Suffers from Construction Dust Amid GRAP-III Violations

GURUGRAM: Air quality in the city has continued to worsen, largely due to construction dust from ongoing projects flouting GRAP-III restrictions that were instituted earlier today. In defiance of the ban, construction work is still taking place in areas such as Sector 28, Sushant Lok, Sector 53, and Sector 112. According to the GRAP guidelines, civic authorities are tasked with enforcing rigorous site inspections, impounding visibly polluting vehicles, and implementing dust control measures at all construction and demolition (C&D) sites. The Haryana State Pollution Control Board (HSPCB) is also required to evaluate compliance and periodically shut down any non-compliant sites.…

InfrastructureLatest Stories

Delhi lifts ban on power connections for unauthorized properties

NEW DELHI: Chief Minister Rekha Gupta has removed the restrictions on power connections for properties booked by the MCD due to various violations. This decision will benefit approximately 1.25 lakh families in Delhi, officials announced on Monday. The Delhi government has issued an order to provide power connections to these properties, according to a statement from the Chief Minister’s Office (CMO). Gupta highlighted that this decision is in the public interest, reflecting the government’s commitment to ensuring citizens’ rights and access to essential services under any circumstance. The power department has received numerous complaints about discoms (power companies) denying or…

Latest StoriesRegulatory

SC Delays Sahara’s Property Sale Hearing to Adani by 6 Weeks

NEW DELHI: On Monday, the Supreme Court postponed the hearing on Sahara Group’s request to sell properties to the Adani Group by six weeks. The court directed the Centre to respond to the note submitted by the amicus curiae regarding the matter. A bench comprising Chief Justice BR Gavai and Justices Surya Kant and MM Sundresh incorporated the Ministry of Cooperation after Solicitor General Tushar Mehta informed that multiple cooperative societies formed by the Sahara Group may be impacted. Senior advocate Shekhar Naphade, acting as an amicus curiae, presented a note to the court, highlighting numerous objections regarding the properties…

IndustryLatest Stories

Bengaluru Engineers Appeal Against RERA ‘Promoter’ Order

BENGALURU: Several engineers from the Bangalore Development Authority (BDA) are urging senior officials to contest the Karnataka Real Estate Regulatory Authority (K-Rera) order issued on Nov 7, which classifies the agency as a promoter under the Rera Act. However, sources indicate that BDA chairman NA Harris is reluctant to pursue an appeal, causing unrest within the organization. A senior bureaucrat commented, “The engineers are pressing the government to file an appeal to exempt the Nadaprabhu Kempegowda Layout (NPKL) from Rera’s jurisdiction. Their primary concern is straightforward: the BDA has a history of delays. Being under Rera means they will be…

IndustryLatest Stories

Hyderabad: Interest Grows in Neopolis Kokapet Phase-III Auction

Representative AI image HYDERABAD: Over 85 developers and real estate firms are interested in the upcoming four-day e-auction for Neopolis, Kokapet Phase-3, scheduled for the third week of November. The Hyderabad Metropolitan Development Authority (HMDA) held pre-bid discussions with potential bidders and companies on Monday. HMDA plans to auction plots in Neopolis, Kokapet, and the Golden Mile layout on November 24, 28, and December 3, 5, offering two plots each day. During a nearly two-hour session, HMDA Commissioner Sarfaraz Ahmad clarified the e-auction process, compliance, zoning laws, and payment methods, addressing questions from bidders. Cushman & Wakefield highlighted Hyderabad’s robust…

Latest StoriesResidential

Stonecraft to invest ₹300 crore in Telangana township project

Representative AI image NEW DELHI: Stonecraft Group, a real estate firm, has announced an investment of Rs 300 crore for a 110-acre township project in Telangana. The company revealed plans to establish the integrated township at Yadagiri Gutta, which is expected to generate revenues up to Rs 1,100 crore. Of the 110 acres, 90 acres will feature residential plots, estimated to yield around Rs 500 crore. The remaining 20 acres will be dedicated to a Senior Living project comprising 333 independent homes, projected to earn Rs 600 crore. The overall investment for this development is set at Rs 300 crore.…