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Latest StoriesRegulatory

FIR Against Ocean Seven Buildtech for ₹217 Crore Housing Scam

GURUGRAM: The Economic Offences Wing (EOW) of Delhi Police has initiated an FIR against Ocean Seven Buildtech Pvt. Ltd. (OSB) and its Managing Director Swaraj Singh Yadav for allegedly deceiving homebuyers and misappropriating funds from the Expressway Towers project in the region. Launched in December 2016 under the Pradhan Mantri Awas Yojana (Urban), the project has yet to be completed, despite receiving over ₹217 crore, which amounts to over 95% of the buyer payments. The project, which includes 1,089 flats (1BHK and 2BHK) situated across 7.5 acres, had promised possession by 2022. The FIR, lodged on October 15, resulted from…

CommercialLatest Stories

Awfis targets 30% growth in FY26, seeks 40% non-core revenue

NEW DELHI: Awfis Space Solutions is set for significant growth in FY26, targeting a 30% increase in revenue, with aims to surpass ₹1,600 crore. The company anticipates adding about 40,000 new coworking seats in approximately 70 centers across India, leveraging its strategy of establishing medium-sized centers averaging 30,000 sq ft each. Rent for their flagship offering ranges from ₹8,000 to ₹20,000 per seat per month, depending on the location and product tier. Awfis boasts an impressive EBITDA margin guidance of 14%, with a strong return on capital employed (RoCE) of around 67%. The company maintains a nearly net-cash position with…

IndustryLatest Stories

Telangana Eyes More Land Auctions After ₹3,135-Crore Raidurg

Representative image Following a record-breaking Rs 3135 crore from its recent land sale in Raidurg, the Telangana government is quickly moving to auction another prime parcel. This new auction, located in Hyderabad’s Knowledge City Layout, reflects the state’s ongoing efforts to monetize valuable urban land amid escalating investor interest in the city’s western corridor. The upcoming auction, set to raise Rs 200 crore, will feature approximately 4,718 square yards of multi-use land in Survey No. 83/1 at Raidurg Panmaktha in Serilingampally mandal, Ranga Reddy district. With an upset reserve price of ₹3.10 lakh per square yard, the e-auction is scheduled…

IndustryLatest Stories

Ahmedabad Urges Developers to Maintain Percolation Wells for BU Permit

AHMEDABAD: The Ahmedabad Urban Development Authority (Auda) has reinforced its commitment to groundwater recharge by adding new conditions for granting building use (BU) permission. During a recent meeting, its board decided that developers must maintain percolation wells on their sites to obtain BU permission. Developers are now required to install a percolation well and provide a notarized affidavit stating, “The percolation well and the rainwater harvesting system are operational, and we will ensure their ongoing functionality.” Only after this will Auda grant BU permission. The original requirement for percolation wells in constructions exceeding 500 sq m was established in the…

IndustryLatest Stories

Nimbus Projects Gains ₹1,100 Crore Potential from UP Order

The Uttar Pradesh Industrial Development Authority (UPIDA) has instructed the Yamuna Authority to amend the land allotment for Nimbus Projects, granting an additional 1.1 million sq. ft. with a development potential valued at ₹1,100 crore. Following the company’s revision petition, the Principal Secretary of the Industrial Development Department, Uttar Pradesh Government, has directed the Yamuna Expressway Industrial Development Authority to reassess the land allocation, considering the interest previously paid by Nimbus. The revision petition was initiated after the company surrendered 55,219.178 sq. m. of a total of 102,995.70 sq. m. under the Project Settlement Policy (PSP). The Principal Secretary’s order,…

CommercialLatest Stories

Marathon & Adani Realty Team Up for Mumbai Commercial Project

NEW DELHI: Marathon Nextgen Realty (MNRL) has partnered with Adani Realty to launch the Monte South Commercial project in Byculla, Mumbai, focusing on office and retail spaces. The development will cover approximately 1.2 million sq ft and is valued at an estimated ₹3,400 crore. Monte South Commercial is part of the expansive Monte South campus, which includes four residential towers soaring over 64 storeys, amounting to over 1.6 million sq ft of residential saleable area. Published On Oct 21, 2025 at 12:00 PM IST Join the community of 2M+ industry professionals. Subscribe to our Newsletter for the latest insights &…

IndustryLatest Stories

Private Equity in Indian Real Estate Drops 15% in H1 FY26

NEW DELHI: Private equity (PE) investments in India’s real estate sector showed signs of moderation in the first half of FY26, with overall inflows decreasing by 15% year-on-year compared to the same period last year, as reported by Anarock Capital. Total PE inflows reached USD 2.2 billion in H1 FY26, down from USD 2.6 billion in H1 FY25. Despite a decline in the number of transactions, average deal sizes remained stable, falling within the range of USD 60–100 million. “Q1 FY26 had a promising showing; however, enthusiasm waned as we moved into the second quarter. Evaluating the entire fiscal year,…

CommercialLatest Stories

India’s Top Six Cities Absorb 57 Million Sq Ft: Report

Certainly! Here’s a rewritten version of the provided content: NEW DELHI: India’s office market experienced significant growth in 2025, achieving 56.8 million sq ft of gross absorption across its top six cities within the first nine months, as reported by Savills India. The impressive growth was primarily driven by Global Capability Centres (GCCs), which represented over 30% (5.9 million sq ft) of the total leasing activity. Other sectors such as IT-BPM, BFSI, and flexible workspaces also showed sustained demand. The report noted a 9.6% increase in new supply year-on-year, reaching 35.4 million sq ft, alongside a decrease in the overall…

CommercialLatest Stories

India office absorption reaches 59.6M sq ft in 9M 2025: Report

NEW DELHI: India’s office market achieved a record high in absorption during the first three quarters of 2025, with gross leasing reaching 59.6 million sq ft, marking the largest volume for this period, according to a recent report from CBRE South Asia. The report indicates that technology firms, Global Capability Centres (GCCs), flexible workspace providers, and BFSI companies were the primary occupiers, collectively accounting for around 60% of total leasing. “Looking ahead, continued leasing in premium assets is projected to compress vacancies, prompting occupiers to explore peripheral locations, driven by a surge in high-grade supply,” stated Anshuman Magazine, Chairman &…

Latest StoriesResidential

Mumbai’s Redevelopment Will Create 44,000 New Homes: Report

NEW DELHI: A report by Knight Frank India states that by 2030, Mumbai’s current redevelopment initiatives (MCGM) are set to deliver 44,277 new homes, amounting to ₹1,305 billion. The report reveals that since 2020, a total of 910 housing societies have entered into development agreements (DAs), unlocking approximately 326.8 acres (1.32 million sq. meters) of potential land based on FSI utilization norms. Notably, around 160,000 societies are over 30 years old and eligible for redevelopment. In the Western Suburbs, areas with high population density from Bandra to Borivali are expected to contribute 32,354 new homes, representing 73% of the total…