Category: Latest Stories

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IndustryLatest Stories

15 Architects Risk Blacklisting for Violations in Haryana

GURUGRAM: The Department of Town and Country Planning (DTCP) has proposed the blacklisting of 15 architects due to alleged misconduct in issuing occupation certificates (OCs). The architects under scrutiny include Niharika Yadav, Yashpal, Jatin Lochab, Jivesh, Sudiksha Kaushik, Aman Sharma, Deepak Jayant, Ravinder, Ravi Kumar, Manoj Kumar, Gomati Prasad, Jyoti Sharma, Rosy Raghav, Jitender, and Somansh Singhal. According to department sources, new OC applications from these architects are currently on hold while further measures are evaluated. The department is also considering imposing financial penalties and additional disciplinary actions. This crackdown follows a comprehensive investigation by the chief minister’s flying squad…

Latest StoriesRegulatory

SREI Finance Withdraws Plea on Nirmal Lifestyle’s Revival Plan

The heavily indebted realty firm, Nirmal Lifestyle (Mulund) Pvt Ltd, has seen one of its secured creditors, SREI Equipment Finance Ltd, withdraw its appeal to the National Company Law Appellate Tribunal (NCLAT). This withdrawal follows the resolution applicant’s clarification that the contested mortgaged property is not part of the approved plan. In April, the Mumbai bench of the National Company Law Tribunal approved the acquisition of Nirmal Lifestyle (Mulund) by Pune-based developer, Mantra Properties and Developers Pvt Ltd. The company carries liabilities totaling Rs 1,491 crore, while the bidder proposed Rs 215 crore under the resolution plan to reinstate the…

IndustryLatest Stories

Delhi extends slum rehab cutoff from 2015 to 2025

NEW DELHI: In a long-awaited announcement that will benefit thousands of slum-dwellers, Chief Minister Rekha Gupta proclaimed on Tuesday that the Delhi Urban Shelter Improvement Board (DUSIB) has extended the cutoff date for the slum rehabilitation scheme from January 1, 2015, to January 1, 2025. This means all eligible slum clusters established in Delhi up to this new cutoff will qualify for rehabilitation benefits. “This historic decision aligns with the Delhi Slum and JJ Cluster Rehabilitation and Relocation Policy, 2026, recently approved by Home Minister Amit Shah. It is expected to enhance Prime Minister Modi’s commitment to uplift the impoverished,”…

Latest StoriesRegulatory

Ahmedabad Court Denies Bail to Popular Builders Owner

AHMEDABAD: A city sessions court on Tuesday denied the regular bail request of Raman Patel, the owner of Popular Builders, in a land-grabbing case filed by the CID (crime) last year. The court refused bail primarily due to Patel’s prior convictions, including a similar case in which he was found guilty of using forged documents to seize two plots. Patel and his brother Dashrath were named as witnesses in a 2010 CBI chargesheet related to the controversial Sohrabuddin Sheikh encounter case. Over the last five years, Patel has faced multiple allegations of land grabbing linked to forged documentation concerning transactions…

IndustryLatest Stories

NCR Housing Launches: National Developers’ Share Hits 13% in 2025

NEW DELHI: Anarock Research reports that the share of national developers in NCR’s residential launches increased to over 13% in 2025, up from just 3% in 2022. The report indicated that national developers launched fewer than 700 units in NCR in 2022, amidst a total of approximately 25,355 residential launches. By 2025, these developers had launched nearly 8,100 units, while the region saw around 61,775 launches overall. Developers featured in the study include notable names such as Godrej Properties, Prestige Estates, Tata Housing, Mahindra Lifespaces, Adani Realty, Sobha, Shapoorji Pallonji Group, and Birla Estates. “In 2022, a mere 3% of…

CommercialLatest Stories

Innov8 Acquires Vatika to Grow Managed Workspace Offerings

NEW DELHI: Innov8 has announced its acquisition of Vatika Business Centres for an undisclosed sum. This acquisition will enhance Innov8’s portfolio by adding 11 business centres located in New Delhi, Gurugram, Chennai, Bengaluru, Hyderabad, Noida, and Pune. The integration will incorporate Vatika’s established corporate clientele and managed office services into Innov8’s operations. According to Gaurav Bhalla, managing director at Vatika Hospitality, the new partnership aims to enhance service offerings, promote technological integration, and expand the network of workspaces. Rakesh Kumar, CFO of PRISM and Innov8, stated that the company anticipates the deal will enhance operational efficiencies, improve margins, and boost…

IndustryLatest Stories

Golden Growth Fund wraps first real estate AIF at ₹101 crore

NEW DELHI: The Golden Growth Fund has announced the successful closing of its first real estate-focused Alternative Investment Fund (AIF) with assets totaling ₹101 crore. This category-II AIF targets real estate projects in South Delhi. Launched in September 2024, it reported a net asset value (NAV) of 160.9 as of March 2026, reflecting a 61% growth since inception. The fund has achieved an annualized internal rate of return of 47% since its launch. The fund has made investments in three locations within South Delhi: Anand Niketan, Neeti Bagh, and Gulmohar Park. The Anand Niketan project is approximately 80% complete and…

CommercialLatest Stories

Crisil: Commercial Office REITs’ Leasable Area to Rise 25-30% by FY28

NEW DELHI: The leasable area for domestic commercial real estate investment trusts (REITs) is forecasted to grow by 40-45 million sq ft, reaching 190-195 million sq ft by the end of the next fiscal year, as reported by Crisil Ratings. This growth will be fueled by planned additions from existing REITs as well as the recent launch of a new REIT, according to the rating agency. About 16 million sq ft of the projected increase will stem from the newly listed REIT. The agency indicated that inorganic expansion through acquisitions will lead the way for REIT growth, as this mitigates…

IndustryLatest Stories

Bengaluru’s Next Decade: Infrastructure Drives Growth, Says CMD

BENGALURU: The next phase of real estate growth in Bengaluru will be fueled by infrastructure advancements, population increases, and its status as a significant employment hub, according to Murali Malayappan, chairman and managing director of Shriram Properties. Speaking at the RealtyDailyNews Realty & Beyond Summit in Bengaluru, Malayappan noted that the city continues to draw migration and demand for housing driven by employment. “Bengaluru is poised for substantial growth. I don’t perceive any threats from employment issues or major challenges for the real estate sector,” he stated. He pointed out that Bengaluru has experienced one of the swiftest urban growth…

CommercialLatest Stories

Accenture Leases 10.16 Lakh Sq Ft Office in Hyderabad for ₹7 Cr+

NEW DELHI: Accenture, a leading IT services and consulting firm, has signed a lease for 10.16 lakh sq ft of office space in Hyderabad for a period of 10 years, with an initial rent exceeding Rs 7 crore per month, as reported by CRE Matrix. According to real estate data analytics firm CRE Matrix, the lease agreement between Aparna IT Hub LLP and Accenture Solutions Pvt Ltd was registered on June 10. Aparna IT Hub has leased a total area of 10,16,912 sq ft (chargeable area) in warm shell condition, across two phases, with a carpet area of approximately 7.57…