Category: Latest Stories

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IndustryLatest Stories

Punjab Cabinet Approves Stilt-Plus-Four Floor Building Rules

CHANDIGARH: On Tuesday, the Punjab cabinet approved the Punjab Unified Building Rules, 2025, which will permit the construction of stilt-plus-four floors in newly developed urban sectors. This decision was made during a council of ministers meeting led by Chief Minister Bhagwant Mann. According to officials, those owning a plot of at least 250 square yards will be eligible to construct stilt-plus-four floors in urban areas. A representative from the Chief Minister’s office stated that the new rules aim to establish a comprehensive and standardized framework for building and development across the state. These regulations will apply uniformly to both the…

Latest StoriesRera

Tribunal Rules Landowners in JDAs Aren’t RERA ‘Aggrieved Persons’

HYDERABAD: The Telangana Real Estate Regulatory Authority (RERA) Appellate Tribunal has issued a crucial ruling stating that landowners who engage in joint development agreements (JDAs) with developers do not qualify as “allottees” or “aggrieved persons” under the RERA Act. Consequently, they cannot seek legal recourse against developers through the RERA authority. This decision was made by a tribunal led by chairman Justice A Santhosh Reddy, with judicial member P Pradeep Kumar Reddy and administrative member Chitra Ramachandran. They emphasized that the mere presence of basic project information on a company’s website, under the ‘ongoing projects’ section, does not constitute advertising…

Latest StoriesRegulatory

Navi Mumbai collects ₹500 crore in property tax; aims for ₹1,000 crore

THANE: The Navi Mumbai Municipal Corporation (NMMC) announced on Tuesday that it has collected over Rs 500 crore in property tax within the first seven months of the financial year, from April to October. This revenue was sourced from 1.63 lakh property owners across eight divisions of the NMMC. Municipal Commissioner and Administrator Dr. Kailash Shinde attributed this achievement to a blend of citizen-centric initiatives and technological advancements. “The NMMC’s property tax department has accomplished an impressive milestone by gathering more than Rs 500 crore in tax from April to October in the financial year 2025-26. This increase in tax…

InfrastructureLatest Stories

16,000 Families Relocated for Noida Airport Expansion

NOIDA: The Uttar Pradesh government has approved the rehabilitation and resettlement (RR) scheme for the third and fourth phases of the Noida International Airport project in Jewar. This decision, following Chief Minister Yogi Adityanath’s recent site inspection, enables the acquisition of 1,857 hectares across 14 villages, affecting around 16,000 families. This expansion is vital for transforming Noida International Airport into the largest greenfield aviation hub in India. The newly approved scheme permits the district administration to issue formal notices to families whose land and homes will be acquired in accordance with the Right to Fair Compensation and Transparency in Land…

CommercialLatest Stories

Office Rentals in Top 7 Cities Jump 6% Yearly by 2025: Anarock

NEW DELHI: Office rental prices in the top seven cities increased by 6% year-over-year, rising from approximately ₹85 per sq ft in the first nine months of 2024 to around ₹90 per sq ft in the same period of 2025, per Anarock Research. Average vacancy rates experienced a slight decline of 3% annually, decreasing from 16.70% in the first nine months of 2024 to 16.20% in 2025. Chennai stands out with the lowest office vacancy rate among top cities at 8.90%. Office space absorption jumped 34%, increasing from about 31.31 million sq ft in 2024 to approximately 42 million sq…

Latest StoriesResidential

Nadiadwala Grandson Entertainment Acquires ₹36.57 Crore Apartments

NEW DELHI: Nadiadwala Grandson Entertainment has acquired two apartments in Prabhadevi, Mumbai, totaling ₹36.57 crore. Both purchases were recorded in October 2025. As per property registration documents from the Inspector General of Registration (IGR) reviewed by Square Yards, the first apartment, situated in Hubtown Twenty Five South North in South Mumbai, is valued at ₹18.57 crore. It boasts a RERA carpet area of 222.13 sq meters (2390 sq ft) with an additional area of 19.40 sq meters (208 sq ft) and includes two dedicated parking spaces. The related stamp duty for this transaction was ₹1.11 crore, along with registration fees…

IndustryLatest Stories

Signature Global secures ₹8.75B through NCDs for housing projects

NEW DELHI: Signature Global (India) has successfully secured ₹8.75 billion through a private placement of non-convertible debentures (NCDs) with the International Finance Corporation (IFC), the World Bank’s lending arm. The NCDs received ‘A+’ stable ratings from Care Edge Ratings, marking the company’s first listed debt transaction. With a coupon rate of 11%, the NCDs have a tenure of three years, two months, and 30 days, maturing on January 15, 2029. The proceeds will be allocated for developing mid-income housing and environmentally sustainable projects, along with reducing existing debt. Pradeep Aggarwal, founder and chairman of Signature Global, expressed, “We are committed…

IndustryLatest Stories

390 Nagpur Mixed-Occupancy Buildings; 139 Unsafe After Audit

NAGPUR: The rise of mixed-use buildings has become one of Nagpur’s most pressing fire hazards, highlighted by recent incidents at Reliance Fresh Mart in Laxmi Nagar’s Aath Rasta Square and Mini Punjab Hotel in Dharampeth. These events underscore the serious risks faced by residents living above commercial businesses. The Nagpur Municipal Corporation (NMC) fire and emergency services has initiated a review following a citywide audit that found widespread safety violations. The audit assessed 390 mixed-occupancy buildings, revealing that 186 lacked fundamental fire safety features like alarms, extinguishers, hydrants, and emergency exits. Additionally, 139 structures were deemed unsafe for habitation, and…

IndustryLatest Stories

Della Group targets ₹700 crore revenue, ₹450 crore EBITDA by FY27

NEW DELHI: The Della Group expects its revenue to reach around ₹700 crore by FY27, supported by a transformative operational strategy and rapid expansion into its proprietary real estate model. This represents a substantial increase from the ₹200 crore revenue recorded in FY25, mainly derived from its resort operations in Lonavla. The company, led by founder and director Jimmy Mistry, is actively launching a new framework for integrated townships across India. Delivery is structured using a conceptualization, design, development, marketing, sales & operations (CDDMO) model, partnering with land-owning developers. “It’s an asset-light model that enables partners to unlock greater value…

Latest StoriesResidential

Khar Kolis to Bombay HC: Fish Drying Land Favoring Builders

MUMBAI: Two societies representing the Koli community in Danda Koliwada, a fishing village in Khar, have filed a petition against the Bombay High Court regarding an order from the Slum Rehabilitation Authority (SRA) that classified part of their land, currently used for drying fish and related activities, as a slum rehabilitation area. The Danda Koli Masemari Vyavasayik Sahakari Maryadit and Danda Koli Samaj are contesting the SRA CEO’s order dated May 17, 2022, concerning 3,450 sqm of land that is reserved for a fish drying yard under the approved development plans (DPs). “Including such reserved land in a slum rehabilitation…