Category: Latest Stories

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Latest StoriesRegulatory

NBW Issued for Deluris Buildtech’s MD in Compensation Case

Representative AI image GURUGRAM: The District Consumer Disputes Redressal Commission-VI in New Delhi has issued non-bailable warrants against Deluris Buildtech India’s Managing Director, Vipul Sachdeva, and Director, Ajay Bharti, for failing to comply with its orders related to homebuyer grievances. The warrants stemmed from separate execution proceedings concerning complaints lodged by homebuyers Archana Mehra and Amit Rana regarding the Zara Rossa project in Gurgaon’s Sector 112. The commission highlighted that the developer did not heed its prior directives despite receiving notice. Homebuyers claimed that Deluris Buildtech failed to deliver possession of their apartments in a timely manner and sought damages…

CommercialLatest Stories

Nestlé to Establish GCC Operations in Hyderabad

Representative AI image NEW DELHI: Nestlé Business Solutions (NBS), the shared services division of Nestlé Group, is set to establish a global capability centre (GCC) in Hyderabad, as per the company’s announcement. The centre will operate under Nestlé Business Services India in collaboration with Genpact. The Hyderabad GCC aims to bolster Nestlé’s global business services network by providing diverse services across various regions. It will integrate domain knowledge, process intelligence, data handling, artificial intelligence, automation, and digital operations capabilities. Luca Fichera, the head of the company, noted that Hyderabad was chosen for its robust technology ecosystem, infrastructure, and status as…

Latest StoriesRegulatory

Court Denies Bail to Ex-Lodha Director in ₹181 Crore Scam

MUMBAI: On Monday, a court denied bail to Rajendra Lodha, the former director of Lodha Developers, in a Rs 181 crore corporate land fraud case, emphasizing that such offences undermine public trust in commercial and financial institutions. Additional Sessions Judge P A Sable noted that the preliminary evidence suggests Lodha played a crucial role in the alleged conspiracy. The prosecution claims that Lodha orchestrated a well-planned, prolonged economic conspiracy, misusing his fiduciary authority to unlawfully sell company-owned land to various developers at undervalued prices. He is accused of conspiring with multiple individuals, including his son Sahil Lodha, to fabricate documents…

IndustryLatest Stories

Delhi approves transplant of 1,049 trees for housing project

Representative AI image NEW DELHI: The Delhi forest department has approved the transfer of 1,049 trees and authorized the removal of 42 trees to facilitate redevelopment at the General Pool Residential Accommodation (GPRA) colony in Sarojini Nagar, as per an official document. Environment activists have expressed concerns regarding this decision, questioning the survival rate of the transplanted trees and highlighting the risks associated with the loss of tree cover, which could increase climate vulnerability. The order, issued on June 19, cites permission granted under Section 9 of the Delhi Preservation of Trees Act, 1994, following evaluations of the proposal and…

IndustryLatest Stories

Gillco Group to invest ₹800 crore in Mohali housing project

Representative AI image NEW DELHI: Gillco Group plans to invest ₹800 crore in the Gillco Meraqui residential project located in sector 126, Mohali, as announced by the company’s Managing Director, Tejpreet Singh Gill. The development will feature 444 apartments across six towers, promising a total revenue potential of approximately ₹2,300-2,400 crore. The company has opened sales for 250 apartments, investing around ₹400-450 crore. Expected sales from these units are estimated at ₹1,200 crore. Situated on 12 acres along PR-7 Airport Road, the project will offer 3+1 and 4+1 bedroom apartments, with starting prices around ₹4 crore and a rate of…

IndustryLatest Stories

Prestige Estates to Buy 50% of Advent Hotels for ₹504 Crore

NEW DELHI: Prestige Estates Projects has entered into an investment agreement to acquire a 50% stake in Advent Convention and Hotels International, as disclosed in a regulatory filing. The acquisition will be completed through a cash payment, with the company and/or its wholly-owned subsidiary planning to invest up to ₹504 crore. The deal is expected to finalize within 45 days from the agreement date. The goal of this acquisition is to develop a commercial project on a 21,978.22 sq meters plot located in Sahar village, Andheri East, Mumbai. The upcoming project will offer a total leasable area of approximately 1.50…

CommercialLatest Stories

India Office Leasing Reaches 24.6M Sq Ft in Q2 2026

Representative AI image NEW DELHI: According to a report by CBRE South Asia, India’s office market reported gross leasing of approximately 24.6 million sq ft in Q2 2026, while new completions for the quarter reached around 21 million sq ft. The report indicates that total office absorption rose by 18% quarter-on-quarter and 14% year-on-year in Q2 2026, with supply increasing 91% sequentially and 18% year-on-year. In the first half of 2026, office absorption totaled roughly 45.5 million sq ft, while supply was about 32 million sq ft. In Q2 2026, flexible space operators emerged as the leading occupier segment, representing…

IndustryLatest Stories

Brihanmumbai civic body orders halt to unsafe building projects

MUMBAI: On Monday, the Brihanmumbai Municipal Corporation (BMC) issued directives to developers and contractors to halt hazardous construction activities and implement strict safety measures at project sites, in response to a ‘red’ alert for severe rain and strong winds. The BMC emphasized that compliance with this advisory is mandatory, highlighting the importance of safeguarding workers, local residents, and the general public. In a message to developers, architects, licensed surveyors, contractors, project managers, and site engineers, the civic body requested inspections of scaffolding, tower cranes, material hoists, safety nets, formwork, tin sheets, and other temporary structures to ensure stability and secure…

InfrastructureLatest Stories

Nashik Scraps Proposed Greenfield Township at Makhmalabad

NASHIK: The Nashik Municipal Corporation (NMC) has officially cancelled the proposed Greenfield township project in Makhmalabad, halting plans for a new township covering 753 acres on the outskirts of the city. Civic chief Manisha Khatri recently issued an order to scrap the project, which was initially proposed under the Smart City Mission. Sachin Jadhav, the executive engineer from NMC’s town planning department, confirmed the cancellation. “The commissioner has issued the order to cancel the Greenfield township project. This decision emerged due to strong opposition from farmers,” he stated, noting that related legal proceedings in the Bombay High Court also influenced…

InfrastructureLatest Stories

Five Years On, Greater Noida Smart Villages Still Face Road Issues

Representative image NOIDA: The road to Sadullapur has been riddled with four- to five-foot-wide potholes for months, and the recent rain has exacerbated the situation, forcing commuters to maneuver around waterlogged holes. Similar conditions are evident in Saini, Sunpura, Vaidpura, and Maincha, among other lesser-developed areas in Greater Noida West that were designated as “smart villages” five years ago, with promises of improved infrastructure. The Greater Noida Industrial Development Authority (GNIDA) initiated a ₹150 crore project in 2021, which pledged amenities like paved roads, streetlights, schools, Wi-Fi, drinkable water, parks, drainage systems, and community centers in several villages, including Maincha,…