Category: Latest Stories

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CommercialLatest Stories

WeWork IPO Sees 13% Subscription on Day Two

NEW DELHI: The initial public offering (IPO) of WeWork India Management Ltd, a co-working space operator, has seen a 13% subscription rate by the second day of the share sale on Monday. According to NSE data, the IPO has received bids for 3,423,780 shares out of the 25,489,748 shares offered. In terms of investor categories, the Retail Individual Investors (RIIs) segment has been subscribed at 37%, while the Qualified Institutional Buyers (QIBs) and non-institutional investor quotas received 9% and 6% subscriptions, respectively. WeWork India has raised over ₹1,348 crore from anchor investors. The ₹3,000 crore issue will close on Tuesday,…

Latest StoriesRera

UP RERA Approves 8 Real Estate Projects Worth ₹1,948 Crore

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has granted approval for eight new real estate projects, with a total investment of ₹1,948 crore. Sanjay Bhoosreddy, chairperson of UP-RERA, stated, “The investment of ₹1,948 crore and the approval of over 3,000 new units represent a major step towards the state’s economic growth and housing development.” These initiatives will collectively generate 3,005 new residential and commercial units, including flats, apartments, villas, plots, shops, and various commercial spaces. Among these projects, three are based in Lucknow, with the remaining ones located in Prayagraj, Agra, Jhansi, Noida, and Firozabad. Published On…

Latest StoriesResidential

Brigade Group to Co-Develop Residential Project in West Chennai

NEW DELHI: Brigade Enterprises has entered into a joint development agreement (JDA) for a 6.6-acre land parcel in West Chennai. The project holds an estimated gross development value (GDV) of ₹1,000 crore, with an expected launch in 2026. In September 2025, the company signed a JDA for a residential development in Banashankari, 5th Stage, South Bengaluru. This project will cover 7.5 acres and has a projected GDV of around ₹1,200 crore. Furthermore, the company has secured a residential project in East Bengaluru. This joint development spans approximately 10.75 acres, featuring a total saleable area of 2.5 million sq ft, with…

Latest StoriesResidential

Manglam Group to Revamp Borivali Residential Project

NEW DELHI: Manglam Group has made its debut in Mumbai’s redevelopment sector with the unveiling of its residential project – Manglam Rajanigandha, situated in Borivali (West). The project is in collaboration with Manglam & Karnani Ventures LLP. “With an investment of ₹100 crore, we believe that Manglam Rajanigandha will set a new standard for quality redevelopment and elevate residential living in the city,” stated N. K. Gupta, the company’s chairman. With an investment of ₹100 crore and anticipated revenue of ₹150 crore, this project spans 80,000 sq ft of land and is set to be completed by June 30, 2026.…

IndustryLatest Stories

Sundaram Alternates Wraps Up Second Realty Fund at 17% IRR

NEW DELHI: Sundaram Alternates (SA), the investment division of Sundaram Finance Group, has successfully concluded its second real estate credit fund, named Sundaram Alternative Opportunities Series – High Yield Secured RE Debt Fund II (SA RE Credit Fund II). The fund achieved a gross investor IRR of 17% after exiting its portfolio investments, amounting to ₹435 crore. SA RE Credit Fund II invested entirely in fully secured, high-yielding debentures from Indian real estate developers. Currently, the SA RE credit portfolio yields an impressive annual cash return of approximately 15-16% for investors. Over the last eight years, the platform has recorded…

InfrastructureLatest Stories

₹600 Crore Fund, Yet No Infrastructure for Goa’s Workers: Data

MARGAO: Despite accumulating ₹600 crore under the Building and Other Construction Workers Welfare Fund by June 2025, official data obtained by TOI indicates that not a single rupee has been allocated for basic infrastructure or facilities for construction workers. Data from the labor and employment department reveals that although funds have been allocated for various welfare schemes, no spending has occurred on critical amenities such as crèches, canteens, rest areas, drinking water facilities, health camps, or temporary accommodations as mandated by the Act. The Goa Building and Other Construction Workers Welfare Board was established in July 2008 under the guidance…

InfrastructureLatest Stories

HYDRAA Secures ₹3,600 Crore Land in Kondapur

Representative image created by AI HYDERABAD: The Hyderabad Disaster Response and Asset Protection Agency (HYDRAA) has successfully reclaimed 36 acres of government land in Kondapur, Serilingampally mandal, Rangareddy district, valued at approximately Rs 3,600 crore. This marks the agency’s second-most valuable recovery to date. The land, located in survey number 59 near the RTA office in Kondapur, had been illegally occupied for several years. Following a directive from the high court, HYDRAA officials, supported by police, removed numerous temporary commercial structures erected on the property. The area has now been fenced off, with signboards installed to designate it as government…

IndustryLatest Stories

RBI Could Allow Real Estate to Access Offshore Loans

A recent proposal to liberalize India’s foreign loan framework includes a change long resisted by former Reserve Bank of India (RBI) governors. This involves allowing external commercial borrowings (ECBs) in the real estate sector, a move that has faced opposition since the Asian Financial Crisis of 1997, which was partly fueled by foreign currency debts linked to property. Past RBI governors have remained cautious about the risks of foreign investments in the real estate market due to the financial turmoil in countries like Thailand, South Korea, and Indonesia. A detailed look at RBI’s draft ECB policy shows a willingness to…

Latest StoriesResidential

Buyers at Aashiyara 37C Protest After 7 Years of Delays

GURUGRAM: Hundreds of homebuyers from Aashiyara 37C staged a protest, claiming they have not received possession of their homes despite nearly full payment made years ago. The demonstration occurred near the residence of Haryana cabinet minister Rao Narbir Singh, where a detailed memorandum was submitted seeking intervention. Many allottees reported paying 100% of their dues nearly three years ago, yet they have neither received possession nor a timeline for completion. The developer, M/s Renuka Traders Pvt Ltd, has allegedly changed delivery dates 12 times, failing to meet any deadlines. Attempts to reach the developer for comment were unsuccessful. Allottee Gautam…

InfrastructureLatest Stories

Groundwater Salinity Endangers Buildings in 17 Mumbai Areas

Representative AI image MUMBAI: The initial phase of the city’s groundwater level survey has uncovered a troubling situation: saline water was detected in 17 of the 19 surveyed locations. The Union Government’s Ground Water Survey Board assessed groundwater at 26 sites throughout the city, providing a preliminary report for 19 locations to the Brihanmumbai Municipal Corporation (BMC). Tests were conducted in various areas including Churchgate, Mazagaon, Worli, Mahim, Byculla, Mahul, Trombay, Khar Danda, Vakola, Vile Parle (West), Amboli, Versova, Madh, Film City, Mulund, Goregaon, Malvani, Manori, and Gorai, in addition to two places each in Colaba, Dahisar, and Chembur. The…