Category: Latest Stories

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IndustryLatest Stories

NBFCs urge RBI for reduced risk weight on property loans

MUMBAI: Non-bank lenders are urging the central bank to reconsider certain regulations, including risk weights for products like loans against property (LAP). They argue that the risk profiles of these assets do not warrant being categorized alongside unsecured loans or standard mortgages. According to one source familiar with the matter, “Losses on LAP are considerably lower than those on housing loans, primarily due to heightened transaction risks in housing finance.” They feel risk weights for LAPs should be reduced or, at the very least, aligned with those of housing loans. In discussions with the Reserve Bank of India (RBI), non-banking…

Latest StoriesResidential

Nimbus Group to invest ₹1,100 Crore in Noida housing revival

NEW DELHI: Nimbus Group plans to invest ₹1,100 crore in the development of Arista Luxe Phase II, a residential project in Sector 168, Noida. This 10-acre project, which was previously stalled, is being revived under the Legacy Stalled Projects Scheme with formal approvals from the New Okhla Industrial Development Authority (NOIDA). The initiative is being executed through a joint development agreement (JDA), with Nimbus participating as a co-developer. Arista Luxe Phase II will feature 342 apartments distributed across Towers 5, 7, 8, and 9, in addition to the completion of the clubhouse and communal areas. The project aims for completion…

CommercialLatest Stories

India’s Office Market to Surpass 1 Billion Sq Ft: Report

NEW DELHI: A recent report by Knight Frank India indicates that India’s total office stock will exceed one billion square feet by Q3 2025. The report reveals that the cumulative office space in the top eight Indian cities was 993 million sq ft as of H1 2025. From less than 200 million sq ft in 2005, the office supply has experienced a compound annual growth rate (CAGR) of 8.6%, approaching one billion sq ft by 2025. Bengaluru currently leads with 229 million sq ft, representing 23% of India’s total office stock. It is followed by the National Capital Region (NCR)…

InfrastructureLatest Stories

Maharashtra CM Advocates Housing Near Metro Terminals

NAGPUR: Chief Minister Devendra Fadnavis, while reviewing 30 key infrastructure projects across the state on Monday, advocated for housing initiatives near Metro corridor terminals to optimize land use and improve last-mile connectivity in urban planning. “Housing colonies should be developed next to Metro endpoints to truly leverage our transport infrastructure,” Fadnavis stated during a meeting at the state secretariat. “We have both the technology and resources. These projects should be completed within three years,” he emphasized. The meeting, part of an ongoing series in the Chief Minister’s War Room, involved top bureaucrats and district-level officials via videoconference. This was the…

Latest StoriesResidential

GDA May File FIR Over 134 Extra Flats in Ghaziabad Society

GHAZIABAD: The GDA is set to take action against current and former officials who permitted a private developer to construct and sell 134 additional flats beyond the approved 400 units at Express Garden society in Indirapuram’s Vaibhav Khand back in 2005. A GDA panel, established under the direction of the Allahabad High Court, is expected to present its findings to the Authority’s additional secretary later this week. The high court is scheduled to review the case in September. Officials familiar with the committee’s recommendations noted that it has suggested filing an FIR against the architect, the developer, and the GDA…

CommercialLatest Stories

Kerala Launches Neurodiversity-Friendly Workspace in Kochi Metro

KOCHI: Kerala is inaugurating its first coworking space that embraces neurodiversity, aimed at fostering an inclusive workspace for individuals with varied needs. The facility, named ‘i by Infopark’, spans 48,000 square feet and is situated at the Ernakulam South Metro Station. Facilities can accommodate over 550 professionals, featuring flexible work settings with modern amenities, as highlighted by Chief Minister Pinarayi Vijayan on Monday. He mentioned that this initiative could set a standard for future projects and will be expanded across the state to promote innovation and job creation. The Chief Minister elaborated in a Facebook post, “Covering an area of…

IndustryLatest Stories

Lucknow: LDA to Increase Development Fees Near Expressways

LUCKNOW: The Lucknow Development Authority (LDA) is set to propose an increase in development charges for properties situated near corridors and expressways. During an upcoming meeting on Tuesday, the board will discuss hiring an agency for the Jayaprakash Narayan International Convention Centre and budget allocations for various housing projects, including the Anantnagar Housing Scheme and IT City. The proposal to raise the special amenity fee for properties within 500 meters of Shaheed Path, Kisan Path, and the Green Corridor will also be reviewed. Funds generated from this fee will be allocated towards improving infrastructure and civic facilities in these regions.…

IndustryLatest Stories

Knowledge Realty Trust REIT secures ₹1,620 crore from anchors

NEW DELHI: Knowledge Realty Trust REIT has successfully raised ₹1,620 crore from anchor investors, along with an additional ₹1,200 crore through strategic allocations targeting institutional investors, as it gears up for its initial public offering (IPO) set to open on August 5, 2025. This follows a pre-IPO funding round that garnered ₹1,400 crore. The board of directors for Knowledge Realty Office Management Services, the entity managing the Knowledge Realty Trust, has finalized the allocation of 16,20,00,000 units to anchor investors at ₹100 per unit. With this allocation, 70% of the IPO (amounting to ₹4,220 crore) has already been secured. The…

Latest StoriesRegulatory

Delhi HC Rejects Bail for DHFL Promoter in ₹34,926 Crore Fraud

NEW DELHI: The Delhi High Court denied bail to DHFL promoter Kapil Wadhawan in a Rs 34,926 crore bank fraud case, citing his “unreproachable” conduct in custody. Justice Ravinder Dudeja stated that such economic crimes affect not just individual victims but the entire financial system. The CBI alleges that Wadhawan was the principal architect of a significant financial fraud, diverting and misappropriating approximately Rs 34,926 crore from a consortium of 17 banks. The judge noted, “The applicant’s conduct during custody has not been beyond reproach. Allegations of manipulating valuable assets and transactions during judicial custody are serious and imply continued…

Latest StoriesResidential

Minister Unveils Dedicated Township for Mysuru’s Ambedkar Layout

MYSURU: On Sunday, Social Welfare Minister and Mysuru District Minister HC Mahadevappa announced plans to identify 20 acres for a dedicated housing township in Ambedkar Layout, Ashokapuram, to address residents’ housing issues. During the celebration of BR Ambedkar’s birth anniversary at Ambedkar Bhavan, located on Ashokapuram’s 13th Cross, he pointed out the challenges faced by the working-class population due to rising population numbers. The minister expressed that they are currently in discussions with the tahsildar and officials from the Mysuru Development Authority (MDA) to pinpoint suitable land either within or on the outskirts of the city. He reaffirmed Chief Minister…