Category: Latest Stories

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IndustryLatest Stories

Mindspace REIT’s NOI Up 26% to ₹634 Crore in Q2 FY26

NEW DELHI: Mindspace Business Parks REIT announced a 26% rise in its net operating income (NOI), reporting Rs 634 crore for the second quarter of the fiscal year, up from Rs 504 crore in the same period last year. The company will distribute Rs 355 crore to unitholders for this quarter, which marks a 16.3% increase from Rs 305 crore last year, according to a regulatory filing. Ramesh Nair, CEO and MD of Mindspace REIT, stated, “This quarter, Mindspace REIT maintained its strong momentum with leasing of 0.8 million sq ft and a re-leasing spread exceeding 28%. This reflects robust…

InfrastructureLatest Stories

Indore: Parts of 11 Homes Demolished in Guru Govind Colony

Representative image INDORE: The Indore Municipal Corporation (IMC) demolished 11 structures located between Khade Ganesh Mandir and Nandbagh Colony in the Guru Govind Colony area on Monday to facilitate road widening under the Master Plan. This operation involved taking down the front sections of 11 homes that were obstructing the road construction project. To ensure a thorough job, the removal team used three earth movers and three hydraulic excavators to dismantle the encroachments. The road work, which had been in progress for an extended period, encountered delays due to obstructions from 8 to 10-foot sections of the houses encroaching on…

InfrastructureLatest Stories

Ghaziabad to Create Master Plan for 61 Villages by Expressways

GHAZIABAD: The Ghaziabad Development Authority (GDA) is planning to develop a distinct master plan for the villages that will be included within its jurisdiction. This initiative will cover 61 villages located within 500 meters of both sides of the Delhi Meerut Expressway (DME) and the Eastern Peripheral Expressway (EPE)—with 32 villages along DME and 29 along EPE. An official from GDA stated, “Creating a separate master plan will aid in managing development around these villages. We intend to engage a consultant for its preparation, and it will be integrated into the district’s unified Master Plan 2031. These villages were previously…

InfrastructureLatest Stories

Finish Pune Metro Line III stations by March 2026: CM to PMRDA

PUNE: On Monday, Chief Minister Devendra Fadnavis instructed the Pune Metropolitan Region Development Authority (PMRDA) and its concessionaire to accelerate the completion of the remaining 13 stations of the 23km Hinjewadi–Shivajinagar Metro Line 3, aiming to meet the completion deadline of March 2026. Currently, only 10 of the planned 23 stations have been completed. This directive was issued during a review meeting where Fadnavis evaluated 36 key infrastructure projects across Mumbai, Pune, and Thane. He also directed the revenue department to expedite the transfer of 5 acres of land in Yerawada, which is critical for the viability gap funding of…

Latest StoriesResidential

Bengaluru East Orders 160+ Illegal PGs to Comply by Nov 5

BENGALURU: The Bengaluru East City Corporation has initiated a significant campaign against unauthorized paying guest (PG) accommodations, uncovering 165 unlicensed establishments through routine ward inspections. These inspections, carried out by health officials across all wards, revealed a considerable number of the 1,452 PGs operating within the corporation limits were functioning without the required trade licenses or safety compliance. The civic body issued a final public notice urging PG owners to obtain licenses within seven days to avoid legal repercussions, including penalties and potential sealing of their properties. The deadline is set for Wednesday. Violations include operating in residential zones without…

Latest StoriesRegulatory

Hyderabad: Firm sued for duping nine flat buyers of ₹4 crore

HYDERABAD: The Cyberabad Economic Offences Wing (EOW) has initiated a cheating case against a construction company based in Jubilee Hills, accused of defrauding nine flat buyers of ₹4.41 crore linked to a stalled project in Tellapur. The complainants, K Mahesh, a 34-year-old employee of a Public Sector Undertaking (PSU), and his friend T Chandra Kiran Kumar began their home search in 2021. They were approached by a marketing executive named Bhargav, who offered an attractive early bird rate of ₹2,800 per square foot with a guaranteed buy-back option. Believing claims that the necessary land would be procured and that HMDA…

Latest StoriesRegulatory

Maharashtra Eases Land Rules Restricted by Fragmentation Act

NAGPUR: The Maharashtra government has taken a significant step in land reform by officially regularizing numerous land parcels previously constrained under the Fragmentation and Consolidation of Holdings Act, 1947. This change is expected to benefit nearly 20 million citizens. Revenue Minister Chandrashekhar Bawankule announced the implementation of this long-awaited amendment following the issuance of a government gazette notification on Tuesday. Describing it as a momentous and citizen-focused reform, Bawankule stated, “Approximately 4.9 million landholders—representing around 20 million family members—will now have their names officially listed on 7/12 land extracts. This decision resolves decades of confusion and challenges posed by antiquated…

Latest StoriesResidential

No Authority: Registrars Can’t Issue NOCs for Redevelopment

PUNE: Maharashtra Cooperation Commissioner Deepak Taware has clarified that registrars and sub-registrars lack the authority to issue a ‘no objection certificate’ (NOC) to housing societies for property redevelopment. The commissioner emphasized that the general body of the cooperative housing society is the primary decision-making authority regarding redevelopment matters. Referring to a writ petition in the Bombay High Court, Taware highlighted that a 2019 government resolution defines the roles of registrars and cooperative societies as supervisory only. According to the Maharashtra Cooperative Societies Act, 1960, there are no provisions granting registrars the right to issue NOCs for redevelopment, underscoring that the…

CommercialLatest Stories

Brookfield India REIT to Buy 7.7M sq ft Park for ₹13,000 Crore

NEW DELHI: Brookfield India Real Estate Trust (BIRET) announced plans on Tuesday to acquire 7.7 million sq ft of commercial properties in Bengaluru for Rs 13,125 crore as part of its business expansion. The acquisition will be treated as a related party transaction and is expected to be conducted at arm’s length, as stated by the company. In its regulatory filing, BIRET disclosed that the Board of Directors of Brookprop Management Services Pvt Ltd, the trust’s manager, approved the acquisition of up to 100% of the issued and paid-up equity share capital of Arliga Ecoworld Business Parks Pvt Ltd for…

Latest StoriesResidential

Amitabh Bachchan Sells 2 Luxury Mumbai Apartments for ₹12 Crore

Bollywood star Amitabh Bachchan has sold two adjacent luxury apartments, collectively spanning 3,640 sq ft, in a high-rise residential tower located in Goregaon, Mumbai, for a total price of ₹12 crore. Each apartment, measuring 1,820 sq ft, is situated on the 47th floor. The first sale was recorded on October 31 for ₹6 crore, with the second transaction occurring the following Saturday for an equal amount. A total stamp duty of ₹60 lakh applies to these transactions. The sales were conducted separately with different buyers, as indicated by documents obtained from the real estate data analytics platform CRE Matrix. Each…