Category: Latest Stories

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InfrastructureLatest Stories

Mangaluru to Build C&D Waste Unit at Pachanady

Representative AI image MANGALURU: The rampant dumping of construction and demolition (C&D) waste in vacant lots and rivers continues in the city. In response, the Mangaluru City Corporation (MCC) is considering reserving land at Pachanady for effective C&D waste management. To curb violations, MCC officials have convened multiple meetings and agreed to establish a facility at the Pachanady dump yard for C&D waste management. Builders will be required to pay a fee for using this facility. In addition, the MCC plans to implement strict penalties to deter C&D waste dumping in public spaces. DC Darshan HV, who oversees the MCC,…

InfrastructureLatest Stories

MP Cabinet OKs ₹590 Cr for Ujjain’s New Airstrip

Representative AI image BHOPAL: The Madhya Pradesh cabinet, under CM Mohan Yadav, has sanctioned Rs 590 crore for the acquisition of 437.5 acres to establish an airstrip in Ujjain, which will accommodate Airbus A320 aircraft in preparation for the Simhastha Kumbh Mela in 2028. Minister for MSME, Chaitanya Kashyap, stated that this initiative will proceed under the Centre’s RCS-UDAN scheme, with the state providing land to the Airports Authority of India for airstrip expansion. The cabinet has also approved several development projects across irrigation, education, forest conservation, and financial management, with a cumulative budget exceeding Rs 15,000 crore. Among the…

Latest StoriesRegulatory

NGT Rejects Telangana’s Future City Project, Seeks Responses

HYDERABAD: The National Green Tribunal’s southern zone bench in Chennai has declined to issue a stay on the Telangana government’s Future City Project on the outskirts of Hyderabad. The bench stated that no interim orders could be made without hearing from all parties involved and without official responses submitted. The Future City Development Authority (FCDA) and the Union Ministry of Environment, Forests & Climate Change (MoEFCC) have been instructed to provide formal responses by June 9 for further deliberation. The order came during proceedings initiated by Hyderabad-based environmentalist Dr. Dhonthi Narsimha Reddy, who claims that the government is engaging in…

IndustryLatest Stories

Revised TOD Rules Open 207 sq km for High-Density Housing in Delhi

Representative AI Image NEW DELHI: The government has released updated regulations for Transit Oriented Development (TOD) as part of Delhi’s Master Plan 2021. This initiative aims to encourage high-density, mixed-use development and enhance the availability of affordable housing along metro and transit corridors. The revised policy encompasses approximately 207 sq km within a 500-metre radius of metro corridors and key transit nodes, including RRTS and railway stations. Significantly, this is the first time around 80 sq km of land, including land pooling areas, low-density residential zones, and unauthorized colonies, has been included under TOD. According to the new norms, developers…

IndustryLatest Stories

Mumbai developers contribute ₹11,626 crore to BMC in FY26

MUMBAI: Builders in the city emerged as the leading revenue source for the BMC during 2025-26, contributing a staggering Rs 11,626 crore in premiums and development charges. This figure reflects a significant increase from the BMC’s highest recorded property tax collection of Rs 7,610 crore in the previous financial year, driven primarily by extensive redevelopment projects. “The development plan department is the principal revenue generator for the municipal corporation,” stated a civic official. This amount marks the highest collection from developers since the Covid-19 lockdown. In October 2020, the BMC incentivized the real estate sector by offering a 50% discount…

IndustryLatest Stories

Mumbai: BMC to Sell Prime Worli Plot for ₹455 Crore

Representative AI image MUMBAI: Following an inquiry ordered by junior urban development minister Madhuri Misal regarding BMC’s Rs 600-crore tender for the redevelopment of its municipal testing laboratory in Worli, the civic body has launched a tender to sell a prime 5,166 sqm plot to builders for “commercial exploitation” at a starting price of Rs 455 crore. The highest bidder will have the opportunity to construct residential or commercial towers on the site. BMC initially aimed to redevelop the laboratory and construct a new facility along with a multistory robotic parking tower and commercial units on this residentially zoned plot.…

IndustryLatest Stories

Ghaziabad: GDA Requires Rooftop Solar Panels in Building Maps

Representative Image GHAZIABAD: The Ghaziabad Development Authority has mandated that developers and property owners allocate space for rooftop solar panel installations in building plans submitted for approval. Officials have stated that any maps not in compliance will be rejected immediately. As part of the PM Surya Ghar scheme, applicants are also required to pay a refundable fee upon map approval, which will be returned once installation is confirmed during an inspection. The fee structure is based on plot size: Rs 20,000 for plots between 200 and 500 square meters, Rs 50,000 for plots ranging from 500 to 1,000 square meters,…

InfrastructureLatest Stories

Haryana: HC Stay on S+4, Town Planning Questions HSVP’s Fund Use

GURUGRAM: Haryana has suspended all approvals for stilt-plus-four (S+4) residential constructions due to an interim stay from the Punjab and Haryana High Court. The Department of Town and Country Planning (DTCP) has requested a utilization report from HSVP regarding the Rs 689 crore allocated for infrastructure enhancements. The funds, deposited under the account of PDR (proportionate development charges), were designated to improve urban infrastructure linked to increased density. Concerns regarding the pressure on infrastructure have been highlighted by petitioners in the high court regarding the S+4 policy. A senior DTCP official stated, “We have requested comprehensive information from HSVP on…

Housing FinanceLatest Stories

CCI Approves Indriya’s 14.3% Stake in Aditya Birla Housing

NEW DELHI: The Competition Commission of India (CCI) has granted approval for Indriya’s acquisition of a 14.29% stake in Aditya Birla Housing Finance (ABHFL), marking a significant regulatory milestone in the ₹2,750 crore investment revealed earlier this year. This transaction involves Indriya, a part of global private equity firm Advent International, acquiring equity shares in ABHFL via preferential allotment on a fully diluted basis. Once completed, Indriya will own 14.29% of ABHFL, while Aditya Birla Capital (ABCL) will maintain the majority stake in its housing finance subsidiary. The deal received initial approval from ABCL’s board in February 2026. ABHFL is…

CommercialLatest Stories

Embassy REIT Greenlights ₹1,100 Crore Commercial Paper Plan

Representative AI image NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has authorized the issuance of commercial papers amounting to ₹1,100 crore in two tranches aimed at refinancing existing debts and fulfilling working capital needs, as revealed in a regulatory filing. The Debenture Committee of Embassy Office Parks Management Services, the manager of Embassy REIT, gave the green light to the issuance on April 7, 2026. The fundraising will occur in two parts: ₹650 crore with a duration of 347 days and ₹450 crore with a duration of 342 days. This issuance is a component of the REIT’s previously sanctioned…