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InfrastructureLatest Stories

Urbanizing Aravalis? Haryana Sets ‘Forest’ Definition for Laws

Representative Image GURUGRAM: Haryana’s government has officially defined “forest” for the first time, establishing a clearer framework for environmental laws that were previously uncertain. However, this definition is more restrictive than the Supreme Court’s guidance from a 1996 ruling, potentially excluding many areas that the same laws aim to protect. A notification issued on August 18 by the state’s forest, environment, and wildlife department states that land parcels of at least 5 hectares (equivalent to 10 football fields) or 2 hectares adjacent to designated forests, must have a canopy density of at least 40% to be labeled as ‘forest.’ This…

IndustryLatest Stories

Runwal Enterprises Secures Sebi Approval for ₹1,000 Crore IPO

Runwal Enterprises, a real estate developer based in Mumbai and promoted by Subodh Runwal, has received approval from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) valued at ₹1,000 crore. The proposed IPO will consist of a fresh issue of equity shares with a face value of ₹2 each, with no offer-for-sale component included. The company stated that the proceeds from the IPO will be allocated to support its expansion plans and enhance its balance sheet. Furthermore, there will be a reservation of shares for eligible employees, allowing them to subscribe at a…

Latest StoriesResidential

Noida: Strike by Guards, Housekeepers Locks Ecovillage-1 Gate

NOIDA: Approximately 250 housekeeping staff and security guards at Supertech Ecovillage-1 in Greater Noida West began a strike on Tuesday morning, leaving over 20,000 residents facing issues related to sanitation and safety. The protest commenced around 8 AM, driven by claims from workers that they had not received their salaries for two months from the outgoing maintenance agency, Gravity. Agitated workers blocked all three gates of the society at the start of the protest. While two gates were reopened after an hour, the main entry, Gate No. 1, remained closed until the afternoon, causing residents to take longer routes to…

IndustryLatest Stories

Godrej Properties Buys 7.8 Acres in Hyderabad for ₹547.75 Cr

Representative image created by AI NEW DELHI: Godrej Properties (GPL) has secured the highest bid for a 7.825-acre land parcel in Kukatpally Housing Board (KPHB), Hyderabad. The e-auction was conducted by the Telangana Housing Board (TGHB) specifically for residential group housing. GPL acquired the land for ₹547.75 crore, as confirmed by the bid status notification from the e-auction facilitator MSTC. The acquired land is projected to generate an estimated revenue of ₹3,800 crore from premium residential apartments of various configurations. Published On Aug 21, 2025 at 09:23 AM IST Join the community of 2M+ industry professionals. Subscribe to our newsletter…

Latest StoriesResidential

Maharashtra Minister: Don’t Demolish Unauthorized Homes This Ganesh

Here’s a rewritten version of the content: MUMBAI: Maharashtra Revenue Minister Chandrashekhar Bawankule has instructed officials to refrain from demolishing unauthorized homes or issuing notices to residents during the upcoming Ganesh festival, emphasizing that such measures should only occur post-festival. The ten-day Ganesh festival begins on August 27. Bawankule stated, “Demolitions should not occur during the festive period, and no notices should instill fear among citizens. Any necessary actions must wait until after the Ganesh festival.” Local residents in North Mumbai had appealed for a suspension of the ongoing demolition efforts by the Brihanmumbai Municipal Corporation (BMC) targeting unauthorized constructions.…

InfrastructureLatest Stories

India’s InvIT Market to Reach $258B by 2030: Knight Frank

NEW DELHI: India’s Infrastructure Investment Trusts (InvITs) are poised for significant growth, with asset management (AUM) expected to increase 3.5 times, reaching USD 258 billion by 2030, as revealed in a recent Knight Frank India study. Worldwide, there are over 1,000 listed Real Estate Investment Trusts (REITs) and InvITs with a combined market capitalization of USD 3 trillion. By FY25, India’s InvITs are projected to manage USD 73.3 billion in AUM, nearly 3.5 times that of the country’s REITs. Together, InvITs and REITs represented USD 93.9 billion in FY25, a significant rise from USD 42.1 billion in FY20. Currently, with…

Latest StoriesRegulatory

Esencia RWA Gurugram Faces Probe Over Illegal Deals and Irregularities

GURUGRAM: The district registrar has appointed an inquiry officer to probe allegations of governance failures, unauthorized dealings, and financial misconduct against the governing body of Esencia RWA in Sector 67. This action follows complaints from residents who accused the RWA of entering an “illegal and malafide agreement” with a neighboring housing society, purportedly permitting access to lay water pipelines and electricity cables without necessary government approvals. Complainants also raised concerns over financial mismanagement, highlighting undisclosed bank accounts, the lack of audits, and money collected from vendors without approval from the general body. In an order issued on Tuesday, Col Vipin…

Latest StoriesRera

H-RERA Grants 11% Interest Compensation to OSB Buyers

GURUGRAM: Eight years later, many homebuyers of the OSB Expressway Towers project in Sector 109 still haven’t received possession of their flats. The Haryana Real Estate Regulatory Authority (HRera) has taken serious note of the delay, instructing the developer, Ocean Seven Buildtech Pvt Ltd, to compensate the buyers with 11% interest for the period of default. This amount must be settled within 90 days, and any outstanding dues from the buyers must be cleared within 60 days. The directive was issued by HRera member Ashok Sangwan during hearings involving complainants Pinky and Ojaswi Yadav. The complainants allege that the builder…

InfrastructureLatest Stories

Bihar CM Reviews Patna Metro Rail Project Construction

File Photo PATNA: On Tuesday, Bihar Chief Minister Nitish Kumar visited the construction site of the Patna Metro Rail Project. He instructed officials to speed up the construction process. According to a statement from the Chief Minister’s Office, “During the visit, the CM assessed the Metro Terminal at Bariyarpur and reviewed the metro rail coaches, tracks, yard, power grid, and associated infrastructure.” The CM emphasized the need to expedite the project’s construction. Regular inspections are being conducted to ensure efficient progress on the construction work. During the inspection, the CM engaged with officials to discuss the current status of the…

IndustryLatest Stories

Mindspace REIT Secures ₹550 Crore from IFC

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has secured an additional ₹550 crore through sustainability-linked bonds (SLBs) from the International Finance Corporation (IFC), the private sector arm of the World Bank Group. This recent issuance follows the initial ₹650 crore SLB issued in June 2024, bringing the total to ₹1,200 crore. Shardul Amarchand Mangaldas & Co acted as legal counsel for this transaction, while Bureau Veritas Industrial Services (India) provided the second-party opinion (SPO). The SLB is linked directly to measurable ESG performance targets, promoting accountability and impact. Published On Aug 20, 2025 at 05:30 PM IST Join a…