Category: Latest Stories

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Latest StoriesResidential

Innov8 Founder Acquires Golf Links Bungalow for ₹85 Crore

AI-generated Representative Image Ritesh Malik, the founder of co-working firm Innov8, acquired a 575-square yard bungalow in Delhi’s Golf Links for approximately Rs 85 crore, as confirmed by two sources familiar with the transaction. This deal contributes to a growing trend of high-value residential purchases by corporate leaders in affluent areas of Delhi, with Golf Links emerging as a favored choice for entrepreneurs in recent years. India Sotheby’s International Realty facilitated the transaction, representing both the buyer and seller while confirming their exclusive mandate. “Golf Links has become the preferred choice for entrepreneurs,” said Ashwin Chadha, CEO of India Sotheby’s…

Latest StoriesRegulatory

Lucknow’s 5% property tax rebate ends July 31

NEW DELHI: The Lucknow Municipal Corporation has announced that July 31, 2026, will be the final date for property taxpayers to take advantage of a 5% rebate on house tax payments. The civic body clarified that the rebate period will not be extended beyond this deadline. This rebate has been approved by the executive committee and is available for both online and offline payments. Municipal Commissioner Gaurav Kumar has urged residents to pay their house tax on time to benefit from the rebate. He emphasized that timely payments would not only help taxpayers but also strengthen the municipal corporation’s revenue,…

CommercialLatest Stories

Embassy Office Parks’ Q1 FY27 NOI Soars 17% to ₹1,020 Crore

NEW DELHI: Embassy Office Parks REIT announced a 17% year-over-year increase in net operating income (NOI), amounting to ₹1,020 crore for the quarter ending June 30, 2026. Net consolidated total income rose by 16.6% to ₹1,260 crore in Q1 FY27, compared to ₹1,080.81 crore during the same period last year. The REIT’s net consolidated profit after tax surged 25.8% to ₹195.21 crore from ₹155.16 crore in Q1 FY26. The board of directors of Embassy Office Parks Management Services, which manages Embassy REIT, has approved a distribution of ₹598.12 crore, translating to ₹6.31 per unit for the quarter. This distribution includes…

Latest StoriesRegulatory

Bombay HC allows SEBI more time for Embassy REIT affidavits

MUMBAI: The Bombay High Court has allowed the Securities and Exchange Board of India (SEBI) additional time to submit detailed affidavits concerning two writ petitions related to allegations against the sponsors and promoters of Embassy Office Parks REIT. During the hearing, SEBI informed the Court that it has already reviewed the representation underlying the first petition, reached a conclusion, and will provide a detailed affidavit with its reasoning. The regulator indicated that its findings are unlikely to favor the petitioner’s requests. Representing SEBI, Senior Advocate Shiraz Rustomjee stated that the regulator has made a decision on the representation that forms…

IndustryLatest Stories

M3M India, Trehan IRIS to invest ₹1,900 crore in Gurugram

Representative AI image NEW DELHI: M3M India is set to invest ₹600 crore in developing a grade-A commercial project, the M3M Capital Financial Center (CFC), located in sector 113, Gurugram. Covering around 1.42 acres, the project is projected to achieve a topline of ₹1,500 crore, with completion expected by the end of 2029. The development will consist of a 22-storey tower featuring 165 units, encompassing 152 office spaces, six multiplexes, and seven retail units. A global aviation firm has already secured about 75,000 sq ft within the building. Additionally, Trehan IRIS has announced a commitment of around ₹1,300 crore for…

IndustryLatest Stories

Vedanta to Split Off Real Estate into Vedanta Property Platforms

Representative AI image NEW DELHI: Vedanta’s board has sanctioned a draft scheme to demerge its real estate segment into Vedanta Property Platforms, as stated in a BSE filing. This proposed demerger, to be conducted on a going concern basis, aims to unlock value from Vedanta’s surplus real estate assets throughout India. The demerger is structured as a vertical split, where shareholders will receive one share of Vedanta Property Platforms for every 20 shares they hold in Vedanta. The surplus real estate portfolio set for demerger covers approximately 2,200 acres of industrial land and around 55,000 square feet of residential and…

IndustryLatest Stories

Bihar to Lift Restrictions on Land Deals in Satellite Towns

Representative AI image PATNA: The state government has announced the removal of restrictions on the sale, purchase, and transfer of land in designated Greenfield Satellite Township areas following the final publication of their development plans. This initiative is anticipated to benefit landowners and investors while promoting oriented urban growth. Approved by the competent authority, this decision seeks to balance urban expansion without compromising satellite township projects. Once the development plans are officially acknowledged, land transactions will be allowed within a controlled planning framework. A press release from the urban development and housing department confirmed that it had previously prohibited land…

IndustryLatest Stories

Lucknow: LDA Requires Fire Safety Certificates for Building Approval

LUCKNOW: Fire safety is now a fundamental requirement for building map approvals in Lucknow. The Lucknow Development Authority (LDA) has mandated that all buildings needing a fire NOC must present a valid certificate for map approval. LDA Vice-Chairperson Prathamesh Kumar announced this policy, which enforces compliance with the UP Fire Safety and Emergency Services Act, 2022, and Rules, 2024. Under the new regulations, maps of commercial and public-use buildings that fall under fire safety standards will not be approved without a valid fire NOC from the fire department. For buildings exempt from mandatory fire NOC regulations, such as hotels, schools,…

InfrastructureLatest Stories

Gurugram’s Construction Waste Plant Faces Tree-Felling Controversy

Here’s a revised version of the content: Representative AI image GURUGRAM: A construction and demolition (C&D) waste processing plant proposed at Babupur along the Dwarka Expressway is facing scrutiny after locals reported tree removals at the site, questioning the facility’s environmental permits. The planned facility in Sector 108 is surrounded by several residential sectors (102, 106, 107, 108, and 109) and a significant green cover. Residents have expressed concerns that a waste processing plant nearby could impact their health. These concerns were reinforced when Haryana State Pollution Control Board’s regional officer, Akanksha Tanwar, informed TOI that no proposal for establishing…

InfrastructureLatest Stories

Delhi civic body tears down 14 illegal structures, seals 1

NEW DELHI: The Municipal Corporation of Delhi (MCD) took action on Wednesday, demolishing 14 unauthorized properties and sealing one as part of its ongoing efforts to address illegal construction citywide, according to officials. The civic body also issued 16 show-cause notices to property owners for unauthorized constructions, commencing legal proceedings under the Delhi Municipal Corporation Act. Officials noted that these actions were executed by the Building Department across various locations in the city as part of routine enforcement against violations of building regulations. Since June 1, the MCD has demolished a total of 681 unauthorized structures and sealed 398 others…