Category: Latest Stories

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Latest StoriesResidential

Noida Residents Demand Action on Demolition Notices for Extensions

NOIDA: Frustrated with ongoing notices from the Noida Authority regarding what they consider minor home alterations, various residents’ groups have approached local MLA Pankaj Singh, requesting the repeal of Section 10 of the Uttar Pradesh Industrial Area Development Act. This section grants the Authority the authority to issue notices to property owners over unauthorized constructions and modifications. Recently, an increasing number of homeowners in older sectors such as 22, 34, 12, 51, and 71 have received notices for changes like adding glazing to verandahs and installing doors or fences in backyards. Many residents argue these adjustments are basic improvements for…

CommercialLatest Stories

WeWork India IPO Closes at 1.15x Subscribed on Final Day

NEW DELHI: The initial public offering (IPO) of WeWork India Management Ltd was successfully subscribed 1.15 times on the final day of the sale, thanks in large part to institutional investors. The IPO, valued at Rs 3,000 crores, received bids for 2,92,68,328 shares against 2,54,89,748 shares on offer, as reported by NSE data. In the Qualified Institutional Buyers (QIBs) category, the subscription rate reached 1.79 times, while the Retail Individual Investors (RIIs) segment drew 61% interest. The non-institutional investors’ portion saw a subscription of 23%. WeWork India has secured over Rs 1,348 crores from its anchor investors. The company’s issue…

CommercialLatest Stories

₹1.2 Crore Allocated for Thiruverumbur SIPCOT Development

Representative AI image TRICHY: The Tamil Nadu government has earmarked Rs 1.2 crore for the development of roads and water infrastructure at the Thiruverumbur Sipcot industrial park, marking Trichy’s second dedicated industrial area following Manapparai Sipcot. The district administration has selected a 125-acre site near the Trichy Semi-ring Road for the initiative. Sipcot, in collaboration with Guidance TN, the state’s investment promotion agency, intends to allocate the entire park to a key investor in the electronics sector. This development will take place in the Elandapatti and Suriyur villages, adjacent to the Olympic Training Academy. The land was repurposed from the…

InfrastructureLatest Stories

Jaipur: JMC-Heritage to Use Drones for Violation Monitoring

Representative Image JAIPUR: The Jaipur Municipal Corporation-Heritage (JMC-H) is set to deploy drones to monitor unauthorized construction and breaches of building bylaws within the Walled City. The initiative will involve regular drone flights that will identify issues like stray cattle, sewer blockages, and illegal constructions. Each drone can capture images and videos across a radius of five to seven kilometers. Commissioner of JMC-H, Nidhi Patel, stated, “We are initiating demonstrations from various drone companies, scheduled for Wednesday.” She emphasized that any decisions will be made post-demonstration, saying, “Following trials and budget evaluations, we will determine the feasibility of this concept.”…

IndustryLatest Stories

Prestige Group’s ₹1,556 Cr Land Acquisition in Hyderabad

Representative Image In a landmark transaction, the Prestige Group has acquired an 11-acre plot in Hyderabad’s Knowledge City for Rs 1,556.5 crore, marking the city’s most expensive land deal to date. This acquisition, part of an auction by the Telangana Government on October 6, 2025, positions Hyderabad at the forefront of India’s commercial real estate boom. At a rate of Rs 141.5 crore per acre, this deal establishes a new standard for land costs not only in Hyderabad but across the nation. This transaction arrives amid Hyderabad’s ascent as a global business hub, fueled by its reputation as India’s tech…

IndustryLatest Stories

Fake PANs Help Real Estate Deals Skirt Taxes

MUMBAI: There are concerns that thousands of property transactions nationwide may have escaped the notice of tax authorities. Intentional reporting omissions, along with fictitious or incorrect Permanent Account Numbers (PANs) associated with buyers and sellers in property documents, have allowed many deals to evade scrutiny from the Income Tax (I-T) department. Officials from the investigation wing of the tax office are currently reviewing records from property registrars for verification. Registrars are mandated to report transactions involving properties valued at ₹30 lakh or more. In some instances, parties, in collusion with certain registrar officials, have ensured that transactions remain unreported or…

Latest StoriesResidential

5,000+ buyers interested in two Lucknow development schemes

LUCKNOW: Following the launch of the Lucknow Development Authority’s Atal Nagar and Sardar Vallabhbhai Patel Housing Schemes, a remarkable response has been noted with 2,346 booklets sold and 117 individuals completing their registrations within the first three days. The online registration for both initiatives, which runs from October 4 to November 3, has shown considerable engagement. LDA Vice Chairman Prathamesh Kumar shared that the Sardar Vallabhbhai Patel Housing Scheme, located in Dalibagh, Hazratganj, is developed on 2,314 square meters of land retrieved from illegal occupancy. This project features 72 flats in three ground-plus-three structures, each covering 36.65 square meters, with…

IndustryLatest Stories

EAAA India’s Realty Assets Aim for 4x Growth

EAAA India Alternatives Ltd, previously known as Edelweiss Alternatives, aims to expand its real estate portfolio to 9–10 million sq ft over the next three years, up from the current 2.5 million sq ft. This ambition follows their acquisition of three office properties worth Rs 3,000 crore in Gurgaon and Bengaluru, with plans to venture into warehousing, data centers, and student housing, as stated by a senior executive. “We aim to acquire office buildings that can be upgraded for premium rental rates. There’s a noticeable demand-supply gap in commercial real estate, and with the increasing demand from GCCs, the need…

IndustryLatest Stories

Raidurg Land Auctions in Hyderabad Yield ₹177 Crore/Acre

Representative Image HYDERABAD: A record was set in Hyderabad on Monday with the auction of a 7.67-acre plot in Raidurg’s Knowledge City for an extraordinary Rs 177 crore per acre, marking the city’s most expensive real estate deal. Another 11-acre plot fetched Rs 141.5 crore per acre, totaling nearly Rs 3,000 crore (approximately) for the Telangana State Industrial Infrastructure Corporation (TGIIC), which conducted the auction. The previous high for Greater Hyderabad was in 2023, when a 3.6-acre land parcel in the prestigious Neopolis area of Kokapet was sold for Rs 100.75 crore per acre by the Hyderabad Metropolitan Development Authority…

InfrastructureLatest Stories

New City Plan in Development Near Navi Mumbai Airport

The City and Industrial Development Corporation (CIDCO), which oversees urban planning for the Maharashtra government, is anticipated to complete the master plan for the Navi Mumbai Aerocity development within the next three months, according to an official. The planned Aerocity, covering 667 acres adjacent to the Navi Mumbai International Airport (NMIA), will feature a mix of residential, commercial, retail, and industrial buildings. Its completion is expected to be a significant milestone for the urban and real estate landscape of the city. CIDCO is currently selecting a consultant to develop the master plan and provide advisory services for the project. In…