Category: Latest Stories

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Latest StoriesResidential

Over 87K Homes Sold in Q3 2025: Report

NEW DELHI: According to a report by Knight Frank India, the eight leading residential markets sustained their sales momentum, with 87,603 housing units sold in Q3 2025. Despite predictions of a market correction, residential sales saw a 1% year-on-year increase in Q3 2025, with year-to-date (YTD) figures slightly down by 1%. The sales momentum was supported by a rise in prices across all markets for Q3 2025, even though the supply of new units recorded a 2% decrease from the previous year, totaling 88,655 units. The macroeconomic conditions were stable, with inflation decreasing to 2.07% in August 2025, down from…

CommercialLatest Stories

WeWork India addresses InGovern’s IPO compliance report

WeWork India Management has responded to governance concerns highlighted in a Governance Watch report from InGovern. Following this, InGovern issued an addendum that included the company’s clarifications. The clarifications cover various issues related to the company’s recent initial public offering (IPO), including its structure, financial eligibility, internal controls, and legal matters involving promoters. In response to concerns regarding the IPO being completely an Offer for Sale (OFS) without new capital, WeWork India emphasized its ability to generate enough free cash flow and EBITDA to support operations and growth. The company noted a promoter investment of Rs 5,012.81 million through a…

CommercialLatest Stories

India’s Office Space Hits 1 Billion Sq Ft in Q3 2025

NEW DELHI: The gross leasing activity in India’s office market reached 66.7 million sq ft in the first nine months of 2025, marking a 24% increase compared to the previous year, according to Knight Frank India, a real estate consultancy firm. In the third quarter of 2025 (July–September), total transactions across the top eight cities amounted to 17.8 million sq ft, reflecting a 6% year-on-year decline due to prior high performance. India achieves 1 billion sq ft office stock milestone New completions for Q3 stood at 12.4 million sq ft, falling short of demand and resulting in a decrease in…

Latest StoriesRegulatory

Two Pune Officials Suspended for Ignoring Illegal Builds

PUNE: The Pune Municipal Corporation (PMC) has suspended two officials from the TDR department for allegedly allowing the construction of two unauthorized floors at a property in Baner. Municipal Commissioner Naval Kishore Ram took disciplinary action against junior engineer Shubhangi Tarukmare and deputy engineer Sandeep Misal under section 56(2)(F) of the Maharashtra Municipal Corporations Act, pending a departmental inquiry. As per the order, the construction of the sixth and seventh floors was proposed through the additional use of TDR, exceeding the approved plan. However, construction on the sixth floor has already been completed, and work on the seventh floor is…

InfrastructureLatest Stories

Punjab Prepares to Redraw Mohali Civic Body Boundaries

MOHALI: As civic body elections approach next year, momentum is building for the long-awaited expansion of Mohali’s municipal boundaries. The Punjab local government department is set to issue a formal notification on this by the first week of November. The decision, which is currently pending in the Punjab and Haryana High Court, will extend the civic body’s jurisdiction to several rapidly developing areas. The next court hearing on this matter is scheduled for November 2. The plan aims to include key residential and commercial areas such as Aerocity, IT City, and sectors 81, 82, and 86 to 94. Private developments…

Latest StoriesRegulatory

Karnataka HC Reverses Decision on Firm’s Building Plan

Sure! Here’s a rewritten version of the content: BENGALURU: A division bench of the Karnataka High Court, led by Chief Justice Vibhu Bakhru, has annulled a previous ruling mandating the Greater Bengaluru Authority to endorse a revised building plan from Sangam Enterprises, providing significant relief to the civic body. Sangam Enterprises aimed to utilize a Transferable Development Rights (TDR) certificate issued on April 18, 2015, to augment the height of their 5,630 sqm property, encompassing two adjacent plots on Dhanvantari Road and Subedar Chatram Road in the Majestic area of Bengaluru. The proposed changes sought to elevate the building height…

Latest StoriesRegulatory

Bombay HC Imposes Daily Fine on Builder for Fire NOC Delay

MUMBAI: The Bombay High Court has granted significant relief to flat owners in Kandivali West who have been unable to secure Fire Clearance Certificates (NOC) and Occupation Certificates (OC) for over a decade. In a decisive ruling, the court asserted that should the builder fail to obtain the Fire NOC within the specified timeframe, they will incur a penalty of Rs 50,000 for each day of delay. This penalty will be submitted to the Brihanmumbai Municipal Corporation (BMC) until the NOC is granted. Additionally, as the flat owners have not yet formed a society, the court mandated that once established,…

InfrastructureLatest Stories

Bengaluru: BDA’s Empty Promises Frustrate KG Layout Residents

Representative Image BENGALURU: Despite repeated appeals and reassurances from the Bangalore Development Authority (BDA) Commissioner and Chairman, as well as visits from Deputy Chief Minister DK Shivakumar and the Legislative Assembly’s Petition Committee, site owners at Nadaprabhu Kempegowda Layout (NPKL) are still facing unresolved issues. The persistent problems with infrastructure became evident once more when heavy rains transformed several areas into muddy, impassable zones. A poignant image of an autorickshaw driver struggling to free his vehicle from the mud has come to symbolize residents’ frustrations. Locals reported that the driver was transporting a family member to a nearby hospital when…

IndustryLatest Stories

Charity Commissioner Maintains ‘Status Quo’ on Jain Trust Sale

PUNE: Maharashtra’s Charity Commissioner, Amogh Kaloti, has ordered a ‘status quo’ on the sale of a significant property in Pune’s Model Colony that currently houses a longstanding Jain boarding facility and the Mahavir Digambar Jain Temple. This decision comes amidst opposition from various factions within the Jain community, who have protested and sought legal intervention to halt the transaction. The prestigious 12,000 square metre property (3.5 acres), owned by the Seth Hirachand Nemchand Smarak Trust, which has been in operation since 1958, was sold to Gokhale Constructions for ₹311 crore. Advocate Yogesh Pandey, representing the petitioning group, argued, “The HND…

CommercialLatest Stories

CapitaLand India to invest ₹1,300 crore for 2.6 million sq ft FY26

NEW DELHI: CapitaLand Investment India (CLI India) is refining its capital markets and portfolio strategy in India. In an exclusive conversation with ETRealty, CEO Sanjeev Dasgupta discusses the company’s exploration of InvIT structures for its logistics and data center platforms, while maintaining office assets within the Singapore-listed CapitaLand vehicle to streamline investor interests. Notably, he notes that with five REITs and around 50 InvITs in India, the market is expanding. However, he emphasizes that any new India REIT should ideally commence near the US$1 billion threshold and chart a distinct growth trajectory. Dasgupta points to robust demand trends for FY25,…