Category: Latest Stories

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CommercialLatest Stories

Smartworks Coworking IPO Fully Subscribed by Day 2

NEW DELHI: Smartworks Coworking Spaces Ltd’s initial public offering (IPO) was subscribed 1.15 times by the end of the second day of bidding on Friday. According to NSE data, the IPO received bids for 1,19,96,496 shares, surpassing the 1,04,01,828 shares available. The non-institutional investor category saw a subscription rate of 1.79 times, while retail individual investors (RIIs) subscribed 1.18 times. Qualified institutional buyers (QIBs) had a 63% subscription rate. Smartworks Coworking Spaces has secured Rs 173.64 crore through anchor investors. Launching on Thursday, the IPO aims to raise nearly Rs 600 crore to facilitate business expansion and debt reduction. The…

CommercialLatest Stories

DDA Approves Reforms to Boost Delhi’s Commercial Real Estate

Representative image created by AI NEW DELHI: The Delhi Development Authority (DDA) has enacted significant reforms aimed at revitalizing Delhi’s commercial real estate sector, making the city more appealing for investment and large-scale development. This announcement was made on Friday. During a DDA meeting led by Lieutenant Governor V K Saxena, the agency announced a drastic reduction in amalgamation charges for commercial properties, slashing them from the existing 10% of the circle rate to just 1%. “High amalgamation costs have long been a major hurdle for developers in Delhi. This decision is anticipated to spark a fresh wave of commercial…

InfrastructureLatest Stories

Height Limits Set Within 20 km of Noida Airport

Representative image created by AI NOIDA: On Friday, Noida International Airport issued a public advisory emphasizing that builders and local authorities must adhere to height restrictions within a 20 km radius of the airport. According to Kiren Jain, Chief Operating Officer (COO) of Noida International Airport, no construction, building, or tree planting is permitted in this radius unless one obtains a ‘Height Clearance’ or ‘No Objection Certificate’ (NOC) from the Airport Authority of India (AAI). This clearance is essential, not just a regulatory formality, to protect flight operations and navigation infrastructure from possible obstructions, Jain explained. “As the Noida International…

Latest StoriesRegulatory

AP HC Orders Release of Builder Detained by Consumer Body

VIJAYAWADA: The Andhra Pradesh High Court recently stated that the consumer redressal commission must adhere to procedural safeguards protecting a citizen’s liberty before incarcerating any defaulter. In a ruling that led to the immediate release of a realtor who had spent three years in jail, the court reaffirmed that human liberty is a fundamental right that must be protected diligently. It asserted that a violation of orders from the consumer redressal commission does not inherently warrant imprisonment. This case emerged from complaints against Vijaya Saradhi Housing Pvt Ltd, a real estate firm based in Guntur, which had taken advances for…

Latest StoriesResidential

Kerala: Stamp Duty Relief for Life Mission Beneficiaries

THIRUVANANTHAPURAM: The cabinet approved the tripartite agreement for the Wayanad Township project on Thursday and appointed S Suhas as the special officer for its execution. The cabinet also decided to waive registration and stamp duty charges for Life Mission beneficiaries acquiring land for housing, contingent upon certification from the district collector or designated officer. This exemption was similarly granted to nine flood-affected families who received homes built by the Muthoot Pappachan Foundation in Chittar village. A tribal taluk supply office will be established in Attapadi, Palakkad, with new posts, including taluk supply officer and rationing inspector, created, and staff reallocated…

Latest StoriesResidential

Chandigarh Housing Board Launches New Projects in Sector 54

CHANDIGARH: After nearly a decade of inactivity, the Chandigarh Housing Board (CHB) is finally addressing the housing demands of the city. As it gears up to introduce the Sector 53 self-financed housing scheme, plans are also underway for a new project in Sector 54. A senior UT official stated, “The CHB has been allocated approximately 32 acres in Sector 54. Recently, a meeting regarding land availability for various purposes took place under the UT administrator’s leadership, during which the Sector 54 land was discussed. Approval has been granted to proceed with the conceptualization and planning for public housing on this…

InfrastructureLatest Stories

No Construction Along 15 Meters of Ring Road or Bypass

Representative Image NEW DELHI: The Union government is set to implement a policy that will prohibit construction within a 15-meter buffer on either side of greenfield and access-controlled bypasses and ring roads across states. State governments will be mandated to designate these areas as ‘No Construction Green Zones’ to restrict any development activities. This initiative is a key component of the Ministry of Road Transport’s policy for access-controlled ring roads and bypasses. The objective is to alleviate congestion in major cities by preventing ribbon development, which is characterized by buildings that directly access transportation networks along roads. In response to…

IndustryLatest Stories

Puravankara Q1 FY26 Pre-sales Reach ₹1,124 Crore

NEW DELHI: Puravankara has announced pre-sales of ₹1,124 crore for Q1 FY26, marking a 6% year-over-year increase, despite no new project launches this quarter. This achievement is driven by a 9% increase in average price realization, now at ₹8,988 per sq ft, complemented by consistent sales across existing projects. Sales volume reached 1.25 million sq ft, with collections amounting to ₹857 crore. The company is enhancing its development pipeline, adding projects with a total projected gross development value (GDV) of ₹3,100 crore. This includes the redevelopment of eight housing societies in Chembur, Mumbai, covering four acres and offering over 1.2…

IndustryLatest Stories

Maharashtra CM to Seek Bombay HC Nod for Slum Rehab on Forest Land

File Photo MUMBAI: The state government is planning to petition the Bombay High Court for permission to undertake slum rehabilitation on portions of forest land currently occupied by slums. Chief Minister Devendra Fadnavis stated on Wednesday that any remaining land will be dedicated to forest regeneration. This statement came while he addressed queries concerning the implementation of postpaid smart meters for electricity consumption during a motion in the state legislative council. BJP’s Pravin Darekar highlighted that numerous slum households situated between Goregaon and Dahisar, as well as in Thane, occupy forest land, including private forest areas. He noted that these…

IndustryLatest Stories

Peninsula Land Purchases Land in Alibaug and Karjat

Representative image created by AI NEW DELHI: Peninsula Land, a part of the Ashok Piramal Group, has successfully acquired two land parcels—11 acres in Sogaon, Alibaug and approximately 29 acres in Bhilawale, Karjat. Rajeev Piramal, CEO and Managing Director of the company, stated, “This is the initial deployment of capital from our real estate platform and underscores our commitment to expanding our plotted development business.” Recently, the company established a real estate development platform worth INR 765 crore through a partnership with investors Alpha Alternatives and Delta Corp. Published On Jul 10, 2025 at 03:28 PM IST Join the community…