Category: Latest Stories

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IndustryLatest Stories

Crisil: REIT Gross Asset Value to Surge 35-40% This Fiscal

NEW DELHI: According to Crisil Ratings, the gross asset value (GAV) of domestic real estate investment trusts (REITs) is projected to rise by 35-40% by the end of fiscal 2027, up from September 2025, driven by new asset additions and the introduction of another REIT. Stable rental income growth, along with diversification and regulated leverage, will support steady credit profiles. REITs generally grow their asset base either through the development of new projects—limited to 20% by regulations—or by acquiring existing operational assets. Gautam Shahi, director of the firm, stated, “Currently, under-construction assets make up just 5% of total GAV for…

InfrastructureLatest Stories

Pune: MIDC Urges Developers to Cut Pollution in Hinjewadi

Representative AI image PUNE: The Maharashtra Industrial Development Corporation (MIDC) has issued notices to real estate developers Reyaansh Logistics, Gera Projects, Godrej Properties, and Pegassus Properties, urging them to mitigate air and sound pollution in the Megapolis area of the Hinjewadi IT park. Local residents have filed multiple complaints with the industrial authority concerning uncovered and overloaded trucks transporting earth and debris, causing dust accumulation on roads. Megapolis is a major residential area within phase III of Hinjewadi, where several developers are actively building projects. This marks the second time MIDC has alerted developers based on residents’ complaints. MIDC executive…

InfrastructureLatest Stories

Navi Mumbai Airport Launches Commercial Flight Operations

The Navi Mumbai International Airport will handle 15 scheduled departures on its opening day MUMBAI: After nearly 30 years since the ambitious project was initiated to alleviate congestion at Mumbai’s current airport, the Navi Mumbai International Airport was officially inaugurated on Thursday. An IndiGo Airbus A320 arriving from Bengaluru touched down at 8 am, greeted with a ceremonial water cannon salute. Commercial flight operations mark a significant expansion of Mumbai’s aviation capabilities and a pivotal milestone in India’s infrastructure development. Now operational, Mumbai joins major global aviation hubs such as London, New York, Moscow, Tokyo, and Shanghai, each served by…

InfrastructureLatest Stories

Illegal Construction Persists in Sultanpur Park Buffer Zone

GURUGRAM: A recent survey by the Haryana Department of Forest and Wildlife uncovered 74 unauthorized constructions within the eco-sensitive zone of Sultanpur National Park, highlighting a concerning trend of increased development around this protected wetland. Additionally, numerous farmhouses and buildings have been established within a kilometer of the park, which is a significant birdwatching destination in the Delhi-NCR region and was designated as a Ramsar site in 2021. Another assessment by the department revealed 158 illegal structures along regulated corridors in the vicinity. In total, 232 constructions were identified as violations of the Punjab Scheduled Roads and Controlled Areas Restriction…

Latest StoriesResidential

Govt to Launch SWAMIH-2 Fund for 1 Lakh Stalled Homes

NEW DELHI: The government is in the final stages of shaping the SWAMIH-2 Fund, aimed at providing last-mile financing for the completion of delayed housing projects, according to sources. The introduction of the ₹15,000-crore fund is expected to benefit nearly 100,000 middle-class homebuyers whose investments are in limbo despite ongoing EMI payments on their housing loans. To support this initiative, the government has set aside ₹1,500 crore as seed capital for the Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund in the 2025-26 budget. The mandates for the new fund are currently being finalized, with clearance anticipated soon. It…

InfrastructureLatest Stories

Gmada Identifies 154 Illegal Constructions in Mohali

MOHALI: The Greater Mohali Area Development Authority (GMADA) has identified 154 unauthorized constructions within its jurisdiction and has submitted a detailed action report to the National Green Tribunal (NGT) as per the tribunal’s directives. In an affidavit, GMADA’s additional chief administrator, Amarinder Singh Malhi, informed the tribunal about extensive illegal construction activities detected in villages along the Chandigarh boundary, including Mirjapur, Jayanti Majri, Bharonjian, Karoran, and Seonk, which fall under the Regulatory Branch’s purview. Since 2023, GMADA has issued 62 show-cause notices and initiated action against offenders, with another 92 notices served after September 15, 2025, for newly identified cases.…

Latest StoriesResidential

Bengaluru Residents Face Power Cuts Due to Vacant Flats’ Dues

BENGALURU: Residents of a high-rise apartment complex on Bannerghatta Road experienced a day-long power outage due to a dispute between the builder and the Bangalore Electricity Supply Company (Bescom). On Wednesday, Bescom disconnected the electricity for the apartment complex over unpaid dues totaling Rs 2 lakh. Residents of Disha Loharuka Solaris in Gottigere shared their concerns on social media, stating the power was cut because of unpaid dues from 30 empty flats, affecting all 150 households in the building. One resident, Binay Biswal, criticized Bescom for the blanket disconnection, suggesting that they should only cut power to the flats that…

InfrastructureLatest Stories

Ludhiana Seals Five Unauthorized Buildings in Threke Village

Representative image LUDHIANA: Following the directives of Punjab Housing and Urban Development Minister Hardeep Singh Mundian and Greater Ludhiana Area Development Authority (GLADA) Chief Administrator Sandeep Kumar, the regulatory division sealed five unauthorized buildings in Threke village on Thursday. The developers continued illegal construction work despite receiving notices, prompting a special team to execute the sealing operation without opposition. The GLADA has also recommended filing FIRs against the developers involved. A spokesperson mentioned that there is a strict zero-tolerance policy towards unauthorized and unplanned development, particularly concerning illegal colonies. A special initiative has been launched to punish those exploiting unsuspecting…

Latest StoriesRegulatory

Gujarat HC: Society NOCs Required Despite Civic Body Approval

AHMEDABAD: The Gujarat High Court has put a stop to the construction of a ten-storey building in Vadodara, ruling that it was built without the necessary No Objection Certificate (NOC) from the cooperative housing society and violated its bylaws, despite the approval granted by civic authorities. The controversy involves the 60-year-old Alka Co-operative Housing Society Ltd, where owners of four plots began construction in 2024 after receiving a development permit from the Vadodara Municipal Corporation (VMC). The society raised objections, asserting that the construction encroached on its road and breached bylaws that designated plots for residential use only. The society…

Latest StoriesResidential

Developers Embrace Integrated Living as Homebuyers Seek Convenience

Representative image NEW DELHI: Luxury home developers are increasingly integrating high-street retail into residential projects as buyers seek convenience and lifestyle amenities in their living spaces. Builders such as DLF, Hero Realty, M3M, Tribeca, and Central Park are incorporating boutique retail ventures into their developments. According to a JLL study, mixed-use townships account for 35% of residential absorption in major cities by creating a blend of living, retail, office, and entertainment spaces. “Walkable, high-street retail has become an emblem of modern living in Gurugram, but such integrated urban experiences have been rare in New Delhi. Our upcoming high-street retail project…