Category: Latest Stories

Access daily updates on all real estate sectors including residential, commercial, retail, and infrastructure. Stay ahead with market trends, policy changes, investment news, and expert analysis from across the globe.

IndustryLatest Stories

NCW Closes PRIME Offices Fund at ₹4,000 Crore

Representative AI image NEW DELHI: Nuvama and Cushman & Wakefield Management (NCW), a 50:50 joint venture between Nuvama Asset Management and Cushman & Wakefield, has successfully closed its PRIME Offices Fund with a corpus of approximately ₹4,000 crore. The fund, initially launched with a target of ₹3,000 crore, saw its size increase in response to investor interest and opportunities in India’s office market. Currently, the fund has allocated about 45% of its capital towards its office investment strategy. Designed to offer Indian investors access to high-quality commercial office assets, the PRIME fund’s portfolio includes over 70 occupiers, with more than…

Latest StoriesRegulatory

ED Raids Builders in Delhi-NCR Over ‘Subvention Scheme’ Fraud

NEW DELHI: The Enforcement Directorate (ED) conducted searches at various locations in Delhi-NCR on Wednesday as part of a money laundering investigation linked to alleged fraud involving homebuyers with subvention schemes, officials reported. At least five premises associated with three companies—CHD Developers Ltd., Ninex Developers Ltd., and Manju J Homes (India) Ltd.—were raided under the Prevention of Money Laundering Act (PMLA). The companies were not immediately reachable for comment. The ED’s investigation arises from three FIRs filed by the Central Bureau of Investigation (CBI) in 2025 under the Supreme Court’s direction. The CBI found that builders allegedly misled homebuyers and…

IndustryLatest Stories

WSB Partners Invests ₹75 Crore in Sowparnika Projects

Representative AI image NEW DELHI: WSB Partners has made a ₹75 crore investment in Sowparnika Projects to aid in the developer’s expansion within Bengaluru. This marks WSB Partners’ ninth investment in the company, with the funds primarily allocated for growth capital. In the past four years, WSB Partners has invested over ₹500 crore across six transactions with Sowparnika, involving six residential projects focused on mid-income housing in Bengaluru and other southern markets. According to Ramji Subramaniam, managing director of Sowparnika Projects, this latest investment will enhance the company’s financial flexibility and bolster its growth objectives in Bengaluru. Published On Jul…

Latest StoriesRegulatory

NGT Requests CAQM Feedback on Builder’s Closure Notice Appeal

NEW DELHI: The National Green Tribunal has requested responses from the Commission for Air Quality Management (CAQM) in the National Capital Region and surrounding areas regarding an appeal from a Haryana-based construction firm contesting a closure notice. The tribunal was addressing a plea from Ramakrishna Buildwell Pvt Ltd, which challenged the closure notice issued by CAQM on April 30 of this year. On July 6, a panel led by NGT Chairperson Justice Prakash Shrivastava and expert member Afroz Ahmad noted that the company’s advocate mentioned the closure notice had previously been disputed in the Punjab and Haryana High Court, which…

IndustryLatest Stories

Dharavi Phase I Redevelopment to Finish in 18 Months: Deputy CM

MUMBAI: On Tuesday, Maharashtra Chief Minister Devendra Fadnavis stated that the Dharavi Redevelopment Project is more than just a housing scheme; it represents an economic transformation. He confirmed that the first phase of approximately 10,000 homes is set to be completed in the next 18 months. During the legislative assembly session, Fadnavis highlighted that eligible residents will be rehabilitated on-site, while others will be offered homes at nearby locations. Additionally, he mentioned that the state has identified 19 cluster redevelopment projects across Mumbai as part of its urban renewal strategy. The Dharavi Redevelopment Project aims to transform Asia’s largest slum…

Latest StoriesResidential

Assam to Build 200,000 PMAY-G Houses in 100 Days

GUWAHATI: The Assam government plans to complete two lakh houses under the PMAY-Gramin scheme within the next 100 days, according to a minister’s statement on Wednesday. In response to Congress MLA Tanzil Hussain’s query, Panchayat and Rural Development Minister Atul Bora noted that since 2016, 22 lakh houses have been built statewide under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G). “In the next 100 days, our target is to complete two lakh new houses and distribute them to the community,” stated Bora. Hussain raised concerns regarding potential irregularities in the ‘geo-tagging’ process of the houses and called for an investigation. Bora…

IndustryLatest Stories

Delhi Development Body Seeks Builders for TOD Policy

Representative AI image NEW DELHI: The Delhi Development Authority (DDA) is progressing with its Transit Oriented Development (TOD) policy and has initiated the process for inviting developers, officials announced on Wednesday. As part of the TOD policy, a designated 500-meter zone on either side of metro corridors and a 500-meter radius around rapid rail stations has been earmarked for organized development. This initiative will allow for the development of 207 square kilometers of land that can accommodate mixed-use areas, office spaces, guest houses, and studio apartments, as per the DDA. In a statement, the DDA said, “To effectively implement the…

Latest StoriesResidential

Fee Hinders Delhi’s Unauthorized Colony Residents from Legalizing Homes

NEW DELHI: The Municipal Corporation of Delhi’s (MCD) initiative to regularize properties in unauthorized colonies has seen a mere five applications in over two months. Officials indicate that a significant number of low-income residents are unable to afford the hefty sums, often amounting to lakhs, required for legalizing their homes, particularly since there is minimal urgency to expedite the process. Launched on April 24, the MCD’s SWAGAM portal enables residents who have already achieved ownership rights under the Centre’s Pradhan Mantri Unauthorised Colonies in Delhi Awas Adhikar Yojana (PM-UDAY) to regularize their properties based on current conditions. More than 40,000…

Latest StoriesResidential

Pune PMC Warns Bavdhan Society Over Missing Stormwater Drains

PUNE: The Pune Municipal Corporation (PMC) has attributed the persistent waterlogging in the gated Nisarg Society, located in Bavdhan, to the lack of a stormwater drainage system and rainwater harvesting infrastructure. Following this, PMC has issued a notice to the society for the installation of these essential facilities. The society is now required to hire a consultant to implement stormwater drains and rainwater harvesting solutions. The notice also states that the society and the property owners will bear the responsibility for any issues arising from inadequate rainwater management. Residents and the managing trust of the township have contested this directive,…

Latest StoriesResidential

UP CM hands out approval letters to Awas Yojana beneficiaries in Pratapgarh

PRAYAGRAJ: During his visit to neighboring Pratapgarh on Tuesday, Chief Minister Yogi Adityanath presented benefits and approval letters to several beneficiaries under various government schemes. The CM inaugurated and laid the foundation stone for 111 projects valued at Rs 384 crore. Shraddha Pandey, the top scorer of the Bihar Public Service Commission (BPSC) examination, was gifted an iPad. Shivam Yadav received an approval letter for the Mukhyamantri Bal Seva Yojana, and Meenu Kumari also received an approval letter under the same scheme. Furthermore, Hemlata Saroj was granted an approval letter under the Mukhyamantri Awas Yojana (rural). Other beneficiaries included Reena…