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.
Embassy REIT Denies Sterling Wilson’s ₹100-Crore Claim
Embassy Office Parks REIT has dismissed claims from Sterling Wilson Renewable Energy and Sterling Wilson Pvt Ltd regarding a supposed Rs 100-crore payment owed by Embassy Energy Pvt Ltd (EEPL), a subsidiary of the REIT. In a regulatory filing on Tuesday, the REIT described the allegations as “frivolous, false and vexatious,” noting that several judicial forums have already ruled against them. Embassy REIT stated that the dispute originates from 2018, prior to its public offering and before EEPL became part of the trust. Sterling Wilson alleges that EEPL has not fulfilled its payment obligations. However, both the National Company Law…
Andhra Pradesh Forms Council to Attract GCCs
VIJAYAWADA: The Andhra Pradesh government has taken significant steps to establish the state as a prominent hub for Global Capability Centres (GCCs) by forming a comprehensive GCC advisory council. This initiative gathers CXOs from global companies, influential industry bodies like NASSCOM, business councils, consulting experts, real estate developers, and renowned academic institutions. The aim is to invigorate GCC investments and elevate AP’s status as a leader in the digital economy. IT, electronics, and HRD minister Nara Lokesh will lead the advisory council. GCCs serve as strategic units for multinational corporations, handling functions such as R&D, IT, finance, procurement, and customer…
15,000 Land Records in Pune Updated with Heirs’ Names
PUNE: Ramesh Jadhav, a farmer from Baramati, faced concerns about a prolonged wait to update his name in the 7/12 extract—the vital land ownership document—after losing his father last year. Fortunately, he was able to make the necessary changes within weeks and at no cost, thanks to a special initiative launched by the Pune district administration. Pune district has now updated over 15,000 land records, replacing deceased landowners’ names with those of their rightful heirs. This update is part of a broader state initiative initiated earlier this year, identifying 21,017 such cases in the district. Additional Collector Suhas Mapari informed…
Dombivli Demolition Halted as Urban Dept Summons KDMC Chief
KALYAN: The Kalyan-Dombivli Municipal Corporation (KDMC) abruptly cancelled the demolition of Samarth Complex, one of 65 illegal buildings built with fake RERA certificates, after officials were summoned by the state urban development department. The final decision now lies with this department. On Tuesday, prior to the planned demolition at 11 AM, residents of Samarth Complex staged a dramatic protest, threatening to self-immolate with bottles of petrol if KDMC proceeded. They claimed the state government had assured them in February that there would be no demolitions. Since 2020, 65 illegal buildings, many on government land, have been constructed in the Dombivli…
Maharashtra Cabinet Approves ₹2,000 Crore Loan for Urban Projects
MUMBAI: The state cabinet approved borrowing Rs 2,000 crore from the Housing and Urban Development Corporation Ltd (Hudco) on Tuesday to fund various municipal projects under the Urban Infrastructure Development Loan Scheme. An official stated, “This decision will facilitate raising Rs 822 crore for the Chhatrapati Sambhajinagar Municipal Corporation’s water supply project, Rs 268.84 crore for four sewage projects in the Nagpur Metropolitan Region, and Rs 116.28 crore for Mira Bhayandar Municipal Corporation’s water supply project.” “Several projects funded by the centrally sponsored Amrut 2.0 Mission, Swachh Bharat Mission 2.0, and the Maharashtra Golden Anniversary Urban Upliftment Mission are in…
Sebi Lowers Minimum Investment Threshold for InvITs
NEW DELHI: Markets regulator Sebi has introduced new rules to lower the minimum allotment lot in the primary market for privately placed Infrastructure Investment Trusts (InvITs) to ₹25 lakh, bringing it in line with the secondary market trading lot size. Previously, the minimum allotment lot for privately placed InvITs was either ₹1 crore or ₹25 crore, depending on the asset composition. Earlier reforms had already reduced the trading lot size in the secondary market to ₹25 lakh, regardless of the asset mix. As a result, this amendment standardizes the minimum allotment size in the primary market for all privately placed…
NCLAT Rules on Fraudulent Insolvency in Logix Infrastructure Case
NOIDA: The NCLAT has ruled that bankruptcy proceedings against Logix Infrastructure will not proceed, citing fraudulent misuse of insolvency law. The tribunal determined that the litigant, Experts Realty Professionals (ERP), and the Noida developer were “related parties,” and deemed the tribunal action as merely a facade to protect Logix from financial obligations. The NCLAT upheld the National Company Law Tribunal’s (NCLT) February 2025 order that annulled corporate insolvency actions against Logix Infrastructure, noted for the problematic Blossom County housing project located in Sector 137. In dismissing ERP’s petition against the NCLT ruling, Justice N Seshasayee (judicial member) and Arun Baroka…
Amazon Leases 220,000 Sq Ft Office in Chennai
BENGALURU: Amazon Development Centre India has secured a lease of 220,000 sq ft from WeWork in Chennai, marking the largest single office transaction in the city this year. The 40-month lease aims to accommodate over 3,500 work units. This deal underscores Amazon’s expanding footprint in southern India and the rising demand for flexible office spaces among corporations seeking scalable work environments in India’s top markets. “Amazon’s move to sign the biggest office deal in Chennai in the first half of 2025 reflects its confidence in the city’s talent pool and infrastructure,” stated a senior industry executive familiar with the transaction.…
Sundaram Home expands to Karnataka, targets ₹60 crore in EB loans
CHENNAI: Sundaram Home Finance has entered the Karnataka market with plans to disburse Rs 60 crore in its first year of operations in the state under its Emerging Business segment. In the initial stage of expansion, the Chennai-based firm intends to open 8-10 branches in Tier II and III towns in Karnataka, according to a press release issued on Tuesday. Sundaram Home Finance is a subsidiary of Sundaram Finance Ltd. The company currently operates over 50 branches in Tamil Nadu and Andhra Pradesh within the Emerging Business segment, having disbursed Rs 200 crore in this category last year. The Emerging…