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Latest StoriesRegulatory

SC Delays Work Order Issuance for Bandra, Worli Projects to Aug 13

MUMBAI: In a significant relief to residents of housing societies in prime areas like Bandra Reclamation and Worli, the Supreme Court has temporarily halted the issuance of work orders for cluster redevelopment projects covering 132 acres of land in Mumbai until August 13. The state government claimed that these expansive layouts belong to the Maharashtra Housing and Area Development Authority (Mhada), which had leased them to societies intended for high- and middle-income groups as well as government employees. The intention is to redevelop these areas to increase affordable housing options through public bidding, which was awarded to Adani Properties. A…

Latest StoriesResidential

RWA Challenges SEIAA on Amaltash Clearance in Gurugram

GURUGRAM: The Haryana government’s decision to uphold the environmental clearance (EC) for a project in Sector 28 has been contested in the National Green Tribunal (NGT). The NGT has granted the Amaltash Residential Welfare Association (ARWA) four weeks to submit objections regarding the State Environment Impact Assessment Authority (SEIAA) compliance report. The case is scheduled for a subsequent hearing on October 16. Despite calls for a new traffic impact assessment, SEIAA approved the EC for Silverglades Infrastructure’s Amaltash Residential Project. The main concern revolves around whether the project complies with the environmental conditions of its EC, particularly concerning traffic access…

InfrastructureLatest Stories

Tamil Nadu to Categorize Streets by Electricity Connections

Here’s a rewritten version of the content: Representative AI image CHENNAI: The Tamil Nadu government’s market value guidelines will now categorize streets as commercial, mixed-use, or residential based on the proportion of commercial electricity connections. This initiative comes as part of a corrective measure directed by the registration department, aimed at resolving eight identified anomalies from a high-level committee’s assessment. However, officials warn that staffing shortages may hinder the enforcement of these changes. The goal of these adjustments is to bridge the gap between guideline values and actual market values. Streets with 60% or more properties having commercial electricity connections…

IndustryLatest Stories

Gujarat Real Estate Projects Stall Amid Appraisal Panel Delay

Representative AI image AHMEDABAD: Real estate project approvals in Gujarat have encountered delays following the non-functionality of the State-level Expert Appraisal Committee (SEAC) after its tenure concluded in June, according to industry representatives and government sources. Although a standing committee has been instituted via government notification, the industry is advocating for a regular committee. Sources indicated that environmental assessments for various real estate and industrial projects are stalled. The Confederation of Real Estate Developers’ Associations of India (CREDAI), Gujarat, has raised this concern with the state government. Tejas Joshi, president of CREDAI, Gujarat, emphasized, “The SEAC plays a crucial role…

IndustryLatest Stories

Prestige Estates’ Q1 FY27 Net Profit Falls 13% to ₹271.40 Crore

NEW DELHI: Prestige Estates Projects has experienced a 12.9% drop in its net consolidated profit after tax, reporting ₹271.40 crore for the quarter ending June 30, 2026, down from ₹311.50 crore for the same period last year. The company’s net consolidated total income saw an increase of 14.9%, reaching ₹2,835.60 crore in Q1 FY27 compared to ₹2,468.70 crore in Q1 FY26. Sales recorded during the quarter amounted to ₹6,579.30 crore, a decline of 46% year-on-year. The Prestige Group’s share in sales was ₹6,126.60 crore, representing a 43% decrease. Collections rose by 6% year-on-year to ₹4,802.20 crore, with the group’s share…

IndustryLatest Stories

Brigade Acquires 2 Acres in Bengaluru; Prestige Develops 14.6 Acres in Thane

Representative AI image NEW DELHI: Brigade Group has purchased a two-acre land parcel on Kanakapura Road in South Bengaluru. The company plans to develop a premium residential project on this site, with an estimated gross development value (GDV) of around ₹400 crore. In a related announcement, Prestige Group revealed a new partnership to develop a residential project in Thane. The Thane project, which spans approximately 14.6 acres, is projected to have a GDV of ₹6,000 crore and a developable potential of over five million sq ft, expected to be developed in phases. Published On Jul 29, 2026 at 09:18 PM…

CommercialLatest Stories

Office Leasing Up 7% to 41.6M sq ft in H1 2026: Report

NEW DELHI: Office space absorption in India’s six major cities reached 41.6 million sq ft in the first half of 2026, showing a 7% increase compared to the previous year, as reported by Savills India. The report specifies that these leasing figures pertain only to new transactions, excluding pre-commitments and renewals. The first half of 2026 saw new office supply at 23.7 million sq ft, marking a 5% year-on-year decline. As of Q2 2026, India’s total Grade-A office stock stood at 872.7 million sq ft, with overall vacancy rates declining from 14.7% to 13.2% compared to the same period last…

CommercialLatest Stories

EFC (I) Q1 FY27 Net Profit Soars 52% to ₹70.85 Crore

NEW DELHI: EFC (I) has announced a 51.8% rise in its net consolidated profit after tax, reaching ₹70.85 crore for the quarter ending June 30, 2026. This is in comparison to a net profit of ₹46.67 crore for the same quarter last fiscal year. The company’s net consolidated total income also saw a significant increase of 31.8%, climbing to ₹294.29 crore in Q1 FY27 from ₹223.25 crore in Q1 FY26. The board of directors has approved a scheme for the demerger of EFC’s wholly-owned subsidiary, which focuses on asset-light managed office solutions, into EFC (I). This subsidiary operates through leased…

Housing FinanceLatest Stories

Bajaj Housing Q1 FY27 Profit Soars 23% to ₹715.28 Crore

NEW DELHI: Bajaj Housing Finance has recorded a significant 22.6% increase in its net profit after tax, amounting to ₹715.28 crore for the quarter ending June 30, 2026, compared to ₹583.30 crore during the same quarter of the previous fiscal year. The company’s total income rose 17.1% to ₹3,063.05 crore in Q1 FY27, up from ₹2,615.57 crore in Q1 FY26. Additionally, its assets under management expanded by 24% to ₹1,49,624 crore as of June 30, 2026, from ₹1,20,420 crore the previous year. Disbursements for the quarter totaled ₹19,509 crore, while loan losses and provisions decreased to ₹16 crore in Q1…

IndustryLatest Stories

Uttar Pradesh to Relax Building Rules in Industrial Areas

Representative AI image LUCKNOW: The Uttar Pradesh government plans to implement standardized building regulations across its industrial development authorities. The industries department has prepared a draft of the Model Building Regulations-2026, aimed at streamlining approval processes and enhancing development potential. This draft, which will soon be presented to the cabinet, was evaluated by Industrial Development Minister Nand Gopal Gupta ‘Nandi’ on Tuesday. “These proposed regulations aim to make UP more investor-friendly by simplifying construction norms,” Nandi stated to TOI. He emphasized that these reforms are designed to drive investment, create jobs, and facilitate planned urban development, all while supporting the…