Category: Latest Stories

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CommercialLatest Stories

India’s Office Leasing Surpasses 70 Million Sq Ft in 2025

NEW DELHI: India’s office market maintained its growth trajectory in 2025, achieving over 70 million sq ft in Grade A office leasing across the top seven cities for the first time. This surge was fueled by a robust year-end push and sustained confidence from occupiers, as reported by Colliers India. During the year, total office leasing reached around 71.5 million sq ft, reflecting a 6% increase from the previous year. The final quarter was particularly significant, with quarterly demand surpassing 20 million sq ft, a 20% rise from the previous quarter, driven by substantial deal closures and expansion efforts. Bengaluru…

Latest StoriesRegulatory

Patna resolves 671 property tax and waste charge issues in a month

PATNA: The Patna Municipal Corporation (PMC) has addressed 671 complaints regarding property tax and solid waste charges out of 1,782 grievances reported within the past month, showcasing a significant advancement in citizen-focused governance. Officials report that the civic body is prioritizing expedited resolution through its enhanced grievance redressal system. On Monday, Municipal Commissioner Yashpal Meena stated, “We are promptly managing complaints to ensure timely relief for residents. The remaining cases, mostly directed to zonal offices, are actively being processed, with regular reviews conducted by relevant officers for prompt resolution.” The commissioner has issued stern directives to executive officers across all…

CommercialLatest Stories

ICRA: Office Vacancy Rates to Hit Historic Lows by FY27

NEW DELHI: According to ICRA, a rating agency, vacancy rates in India’s commercial office market are set to drop to multi-year lows by FY2027 due to leasing demand significantly surpassing new supply for the third consecutive year. Net absorption across the six major office markets—Bengaluru, Chennai, Delhi NCR, Hyderabad, Mumbai Metropolitan Region (MMR), and Pune—is expected to reach an unprecedented 69–70 million sq ft in FY2026. The strong leasing momentum should continue in FY2027, with net absorption projected at over 65 million sq ft. With demand consistently outpacing supply, vacancy rates are forecast to decline to between 12.5% and 13%…

InfrastructureLatest Stories

Goa: 300,000 sq meters of forest converted to settlement in Arambol

File Photo PANAJI: Following a central government intervention two years ago that paused the Goa town and country planning (TCP) department’s zoning plan to convert 21% of Pernem’s green space, Arambol is witnessing unrest once again. A substantial hill in Bhatwadi, Arambol, enveloped by a dense private forest spanning 3 lakh sqm, has been reclassified as settlement land. This change threatens approximately 1,000 residents from five wards living at the base of the hill, who are concerned about potential landslides akin to what occurred in Wayanad if the trees are cleared for luxury hotels or villas. Locals protested on Sunday…

IndustryLatest Stories

Panel Established to Revise Gujarat Land Revenue Act

Representative AI image GANDHINAGAR: The state government recently established a committee led by retired IAS officer C.L. Meena to review the Gujarat Land Revenue Act of 1879 and related regulations. The objective is to recommend necessary amendments to the Act. The committee, composed of other members like M.B. Parmar and Anis Mankad (both retired IAS officers) along with a member secretary, is tasked with submitting its report within six months. A notification regarding this was released on December 22. As outlined in the notification, the committee is responsible for assessing the revenue department’s rules, resolutions, and manuals connected to this…

InfrastructureLatest Stories

Gurugram High-Rises Urged to Use Smog Guns for Dust Control

GURUGRAM: The air quality in the city has remained in the ‘very poor’ category for the second consecutive day. The Haryana State Pollution Control Board (HSPCB) is urging numerous residential and commercial developments to implement smog guns or water-sprinkling systems to manage dust levels in the winter. The Air Quality Index (AQI) recorded an index of 315 on Friday, an improvement from the previous day’s 353, but still classified as ‘very poor.’ The HSPCB’s advisory was distributed to over 180 group housing societies, condominiums, plotted colonies, and commercial complexes citywide, including significant developments in DLF City, Golf Course Road, Golf…

IndustryLatest Stories

InvITs, REITs Distributions Surge 55% YoY in Q2 FY26: ICRA

NEW DELHI: According to ICRA Analytics, India’s Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) showed remarkable growth in distributions for the second quarter of FY2026, buoyed by robust performance in various sectors such as roads, power, energy, commercial real estate, telecom infrastructure, and logistics. Distributions from public InvITs and REITs surged by 34.3% quarter-on-quarter, exceeding ₹3,300 crore in Q2 FY26. On a year-on-year basis, distributions saw a 55.4% increase from the previous year. REITs were the standout performers this quarter, benefiting from steady leasing activity, rental growth, and improved collection rates within commercial office portfolios. Meanwhile, road…

Latest StoriesResidential

Allottees seek amenities, cite design flaws in Kempegowda Layout

File Photo BENGALURU: While the Bangalore Development Authority (BDA) has expedited work on the Nadaprabhu Kempegowda Layout (NPKL) between Mysuru Road and Magadi Road, residents in III and IV Blocks have raised urgent concerns regarding “critical bottlenecks” that might hinder habitation if not resolved promptly. Allottees appreciate the enhanced pace of land acquisition and development under the current administration; however, they assert that the layout is still not suitable for living. Although several houses are built and more are under construction, foundational issues like inadequate infrastructure and unclear design are becoming significant obstacles. One major issue is the absence of…

Latest StoriesRera

Karnataka RERA Orders Builder to Refund with Interest

BENGALURU: Despite the actions taken by law enforcement and the Karnataka Real Estate Regulatory Authority (K-RERA), the issue of double sales continues to affect unsuspecting homebuyers. Many of these buyers are desperately seeking justice, with some hoping for relief from K-RERA, which has started issuing judgments that address prolonged complaints. In a ruling on December 22, 2025, the K-RERA addressed a complaint from Sudhir, a victim, ordering the respondents — Sri Vanishelters, LS Srinidhi, B Kenchappa Gowda, and G Vidyavathi — to reimburse Rs 32,94,816 with interest. The interest rate is based on the SBI’s marginal cost of funds-based lending…

IndustryLatest Stories

Gaurs Group Secures ₹440 Crore via Non-Convertible Debentures

NEW DELHI: Gaurs Group has successfully completed its inaugural public offering of non-convertible debentures (NCDs), raising ₹440 crore, and the issue has been fully subscribed. Three mutual funds participated in the subscription. The debentures were issued by Gaursons India, the parent company of Gaurs Group, and will be traded on the National Stock Exchange (NSE). Kotak Mahindra Bank served as the sole arranger for this transaction. “This gives us enhanced flexibility to foster growth while ensuring a sound capital structure,” remarked Sarthak Gaur, director of the company. The entire process was concluded over a span of nearly three months. The…