Category: Latest Stories

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CommercialLatest Stories

Lower Fitout Costs Drive Office Leasing Growth

Representative Image NEW DELHI: India’s cost advantage, not only in office rent but also in fitout expenses, has led to record-breaking office leasing despite global uncertainties. Average fitout costs in major cities like Mumbai, Delhi, and Bengaluru stand at $75 per sq ft, among the lowest worldwide. In comparison, leading global markets often see fitout costs surpassing $150 per sq ft, excluding furniture and technology. “India is not merely a low-cost locale; it represents a high-value marketplace. The capacity to deliver world-class workplaces at competitive prices continues to drive leasing momentum, especially as Global Capability Centers (GCCs) expand and consolidate…

Latest StoriesRera

Himachal RERA Amendment Bill Passed Amid Opposition Walkout

DHARAMSHALA | SHIMLA: On Wednesday, the state assembly passed the Real Estate (Regulation and Development), Himachal Amendment Bill, despite protests and a walkout from the opposition. Currently, the chief justice of the high court serves as chairperson of the committee that recommends members and chairperson of the Real Estate Regulatory Authority (RERA). This Bill proposes to replace the chief justice with the chief secretary. The amendment also establishes a fixed, non-renewable four-year term for the chairpersons and members, instead of the existing five-year term, which is subject to a 65-year age limit. The BJP MLAs exited the House before the…

Latest StoriesRegulatory

NCLAT: Creditors Can Appoint Liquidator, Not NCLT

NEW DELHI: The authority to appoint a liquidator for a company in debt undergoing insolvency procedures lies solely with the Committee of Creditors (CoC), not the National Company Law Tribunal (NCLT), in instances where a Resolution Professional has not provided written consent, as per the National Company Law Appellate Tribunal (NCLAT). In a ruling concerning two similar cases where the NCLT had appointed liquidators for two struggling companies, the NCLAT overturned those decisions, emphasizing that “only the CoC has the authority to select a candidate to replace the RP.” The NCLAT clarified that while the NCLT serves as the designated…

CommercialLatest Stories

Embassy REIT to invest ₹3,700 crore in 7.2 million sq ft office project

NEW DELHI: Embassy Office Parks REIT (Embassy REIT), managing a vast 51 million sq ft office portfolio with a 93% value occupancy rate and 40.9 million sq ft of income-generating assets, is gearing up for its next expansion phase. This includes a pipeline of ₹3,700 crore in ongoing construction, scheduled for completion over the next three to four years. The REIT has 7.2 million sq ft currently in development that is projected to yield approximately ₹630 crore in net operating income (NOI). Four months into his role, CEO Amit Shetty emphasizes the need to enhance growth strategies through asset upgrades,…

InfrastructureLatest Stories

Ludhiana Seals Six Buildings in Crackdown on Illegal Structures

Representative Image LUDHIANA: The municipal corporation (MC) has initiated a strong crackdown on unauthorized constructions and outstanding fees, sealing six buildings across the city on Tuesday after the owners did not comply with requests for pending payments and the correction of illegal structures. This action was taken following strict orders from MC Commissioner Aaditya Dachalwal, who recently admonished officials to expedite the collection of civic dues and enforce stringent measures against illegal constructions, warning that non-compliance could lead to disciplinary measures against them. The sealing operation was carried out by the MC Zone D building branch, targeting several prominent locations,…

Latest StoriesRegulatory

Jaipur Seals Walled City Building for 3 Months

JAIPUR: The Jaipur Municipal Corporation (JMC) has issued a notice and sealed an old building located on Chaura Rasta near New Gate in the Walled City for a duration of three months. This action was taken due to the owner’s failure to comply with a notice under Section 194 of the JMC Act 2009, specifically for not obtaining necessary permissions for ongoing renovation work. Recent decisions by the civic body indicate a move towards stricter enforcement against property owners in the Walled City who attempt unauthorized modifications to heritage structures. An official from the JMC’s vigilance wing stated, “Since we…

CommercialLatest Stories

Thiruvananthapuram: Technopark QUAD Project Gains Clearance

THIRUVANANTHAPURAM: The QUAD project—an integrated IT and office campus at Technopark in the capital—has received formal environmental clearance. This development will be located in Technopark Phase IV at Pallipuram and will feature a green IT building covering a total area of 8.5 lakh sq ft. Sources indicate that the tender evaluation process for selecting a co-developer to construct the buildings has been completed, with five companies participating in the bidding. Currently, one company’s estimate is still under review. The project aims to blend IT innovation, commercial vibrancy, and sustainable design. It is designed as a live-work-play campus, providing IT professionals…

CommercialLatest Stories

Embassy REIT buys Bengaluru office for ₹8,520 million

NEW DELHI: Embassy Office Parks REIT has signed definitive agreements to acquire a 0.3 million sq ft office property within Embassy GolfLinks Business Park in Bengaluru. The transaction is valued at ₹8,520 million. This grade-A asset is completely leased to a leading global investment firm, ensuring long-term cash flow visibility. The acquisition yields a net operating income (NOI) of approximately 7.9%, which is favorable compared to the REIT’s trading cap rate of 7.4% in Q2 FY2026, according to the company. Amit Shetty, CEO of the company, stated, “With a fully leased, long-term asset backed by a prominent global investment firm,…

CommercialLatest Stories

HRX Digitech LLP Acquires 4 Commercial Units for ₹10.90 Cr in Mumbai

NEW DELHI: Rakesh Roshan and his son Hrithik Roshan’s company, HRX Digitech LLP, has acquired four commercial units in Andheri West, Mumbai for ₹10.90 crore, according to property registration documents examined by Square Yards. All transactions were registered in November 2025 at Yura Business Park Phase 2. The first property, valued at ₹3.42 crore, features a carpet area of 79.15 sq meters (852 sq ft) and includes two car parking spaces, incurring a stamp duty of ₹20.54 lakh and registration fees of ₹30,000. The second unit was acquired for ₹2.19 crore. It has a carpet area of 50.63 sq meters…

CommercialLatest Stories

Kartik Aaryan’s Parents Purchase Mumbai Office for ₹10.8 Crore

NEW DELHI: Kartik Aryan’s parents have purchased an office unit in Mumbai’s Vile Parle for ₹10.83 crore, as reported by Zapkey. The transaction took place in November, with a stamp duty of ₹65 lakh paid. This property, sold by Notan House, features a carpet area of 1,228 sq ft and includes two parking spaces, as per the documentation. Notandas Realty was the developer of Notan House. Published On Dec 3, 2025 at 10:36 AM IST Join a community of over 2 million industry professionals. Subscribe to our newsletter for the latest insights and analysis delivered to your inbox. Everything about…