Category: Latest Stories

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IndustryLatest Stories

Maharashtra Decentralises Land Approvals to Accelerate Projects

The Maharashtra government has enhanced the authority of district collectors and divisional commissioners to approve government land transactions. This initiative aims to minimize bureaucratic delays and accelerate investment and redevelopment initiatives throughout the state. As stated in a government resolution (GR) from the Revenue and Forest Department, the delegation of powers under Section 37A of the Maharashtra Land Revenue Code, 1966 has been updated. This allows district-level and divisional authorities to authorize a broader range of land-related proposals without needing state government approval. The move is designed to improve the business environment and hasten approvals for industrial, infrastructure, housing, and…

IndustryLatest Stories

Maharashtra to Launch New Rates for Towers and Slums Post-Survey

MUMBAI: Maharashtra will implement distinct Ready Reckoner (RR) rates for high-rises and slum clusters within the same area, following a statewide micro-zoning initiative aimed at enhancing the realism and fairness of property valuations, announced Revenue Minister Chandrashekhar Bawankule on Wednesday. This decision, revealed on the 12th anniversary of Prime Minister Narendra Modi’s tenure, seeks to aid middle-class homebuyers and slum dwellers currently subjected to uniform valuation rates, despite significant differences in infrastructure and amenities. Bawankule noted that the Maharashtra government has initiated a three-phase survey program for micro-zoning, entrusting the Maharashtra Remote Sensing Application Centre to carry out the task…

IndustryLatest Stories

Reliance Consortium Wins 101-Acre Mumbai Slum Redevelopment Bid

MUMBAI: A consortium led by Reliance Industries’ subsidiary, Reliance 4IR Realty Development, in collaboration with Mahadev Realtors Juhu, has successfully won the bid for the redevelopment of the 101.36-acre Juhu Galli slum cluster in Andheri (West), making it one of the largest slum redevelopment projects in Mumbai. The tender process was overseen by the Slum Rehabilitation Authority (SRA) and drew bids from major corporate groups, including Reliance, JSW, and the Shapoorji Pallonji Group. The Reliance-led consortium emerged victorious in the bidding process. The redevelopment plan aims to construct over 28,000 homes for eligible slum residents. This initiative falls under the…

InfrastructureLatest Stories

Cabinet Greenlights Phase 2(A) of Ahmedabad Metro Project

File Photo NEW DELHI: On Wednesday, the Union Cabinet approved Phase 2(A) of the Ahmedabad Metro Rail project, covering a 6.032-km extension to enhance connectivity between major residential and commercial areas, officials announced. This decision arose from a Cabinet meeting led by Prime Minister Narendra Modi. An official statement noted that the project aims to provide seamless integration with the current Ahmedabad-Gandhinagar Metro corridor. In addition, sports infrastructure is expected to be developed in the nearby regions in preparation for the World Police Games 2029 and Commonwealth Games 2030. Phase 2(A) will consist of four elevated stations and one underground…

IndustryLatest Stories

RBI Sets Final Rules for Easing Bank Loans to REITs, InvITs

MUMBAI: On Wednesday, the Reserve Bank issued final amendment directions that allow commercial banks to lend to Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), while maintaining essential safeguards regarding exposure limits, asset quality, and repayment structures. The final directions incorporate feedback from stakeholders following the draft norms. Key changes include allowing overseas branches of Indian banks to engage in REIT financing through syndication, with specific caps on contributions (20%) and risk weight (150%). The requirement for an insolvency mechanism has been modified to include a broader stipulation for an “effective recovery mechanism” in overseas jurisdictions. The central…

Latest StoriesResidential

DDA Sells 142 Properties, Generates ₹1,300 Crore Revenue

NEW DELHI: The Delhi Development Authority (DDA) successfully auctioned 142 properties, generating Rs 1,321 crore in revenue, as reported by officials on Wednesday. The mega e-auction attracted bids from investors, institutions, and businesses, resulting in robust value realization through competitive bidding. “The e-auction totaled a highest bid of Rs 1,321.21 crores, significantly exceeding the reserve price of Rs 480.38 crores—nearly three times the reserve value—which corresponds to an approximate 175% premium,” the statement said. Since taking office, Lieutenant Governor G Taranjit Singh Sandhu has focused on transforming the capital into a global city characterized by sustainable investment, superior housing, and…

InfrastructureLatest Stories

Ranchi Cracks Down on Illegal Buildings Over Water Bodies

File Photo RANCHI: The Ranchi Municipal Corporation (RMC) has intensified its efforts to clear water bodies and drainage channels of encroachments, conducting a series of demolition and survey operations to ensure these areas are free from illegal occupation. The latest action took place on Monday at Bandhgari in Ward 6, where five illegal structures on government land and drainage channels were demolished. The obstructive structures hindered natural water flow and occupied public land. The demolition was executed by RMC’s enforcement team, which also restored the drains to their original alignment. This operation followed a significant crackdown around Kanke dam, where…

CommercialLatest Stories

Kolhapur to Build 5 Commercial Complexes via PPP

KOLHAPUR: The Kolhapur Municipal Corporation (KMC) is exploring options to establish five to six large commercial complexes through a public-private partnership (PPP). KMC chief Rajendra Bharud has tasked all four divisional offices to pinpoint strategic locations for these commercial spaces, aiming to generate revenue through rentals. Priority sites include the city’s Shingoshi Market, Kombdi Bazaar, Chhatrapati Tararani Market Divisional Office, Central bus stand, Water Park-Bawda, and the rickshaw stands in the Central bus stand area. On Monday evening, Bharud convened a meeting with officials, instructing deputy city engineers from each divisional office to identify key areas in their jurisdictions and…

IndustryLatest Stories

Patna Civic Body Approves Leasehold to Freehold Conversions

PATNA: The empowered standing committee of the Patna Municipal Corporation (PMC) has approved a proposal to transition leasehold residential properties to freehold ownership. Residents in areas such as Rajendra Nagar, Shri Krishnapuri, PIT Colony, and Beur will be eligible for full ownership rights upon payment of a conversion fee set at 10% of the existing circle rate. This proposal was a key discussion point in the 23rd ordinary meeting of the empowered standing committee on Tuesday, during which members ratified 18 agenda items aimed at enhancing municipal administration. Led by mayor Sita Sahu, this policy seeks to address longstanding legal…

Latest StoriesResidential

Ajit Agarkar Sells Mumbai Apartment for ₹4 Crore

NEW DELHI: Former Indian cricketer Ajit Agarkar has sold his residential property located in the Jewel Co-op Housing Society in Bandra West, Mumbai, for ₹4 crore. The property, which has a built-up area of 114.15 sq meters (1,229 sq ft), includes two car parking spaces. The sale was registered in April 2026. Property registration documents reviewed by Square Yards indicate that the transaction entailed a stamp duty payment of ₹24 lakh and registration fees of ₹30,000. Published On Jun 10, 2026 at 11:00 AM IST Join a community of over 2 million industry professionals. Subscribe to our newsletter for the…