Category: Latest Stories

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CommercialLatest Stories

Smartworks Coworking Shares Surge 9% in Market Debut

NEW DELHI: Smartworks Coworking Spaces Ltd’s shares saw a rise of over 9% on Thursday, closing above the issue price of Rs 407. The stock debuted at Rs 436.10, reflecting a 7.14% increase from the issue price on the BSE. It even peaked at Rs 469 during the day, marking a high of 15.23%. Ultimately, shares closed at Rs 445.10, representing a 9.36% gain. On the NSE, it opened at Rs 435, up by 6.87%, and finished at Rs 445.05, a rise of 9.34%. The company’s market capitalization was reported at Rs 5,079.99 crore. In terms of trading volume, 16.77…

IndustryLatest Stories

Minister: Rent Deals with Redevelopers Now Valid for Passports

MUMBAI: The Centre has prepared Standard Operating Procedures (SOPs) for police verification needed for passport applications. However, the Maharashtra government is addressing concerns raised by citizens whose residential buildings are undergoing redevelopment, according to a minister’s statement on Wednesday. During an assembly session, Minister of State for Home, Yogesh Kadam (Urban), emphasized that verifying addresses for passport applications is a national security issue. This process requires confirming the applicant’s identity along with any pending criminal cases. It is important to note that police verification for issuing passports occurs at the applicant’s registered address. The redevelopment of older buildings can cause…

InfrastructureLatest Stories

Auda’s Past Plans Erode Ahmedabad’s Lakes

Representative image created by AI AHMEDABAD: Numerous ponds and lakes throughout the city have experienced a notable decrease in their land area due to past Town Planning (TP) schemes created by the Ahmedabad Urban Development Authority (AUDA), even though state government policy prohibits such reductions, according to sources. Areas like Thaltej, Bopal, Memnagar, Vastrapur, and Charodi—previously under AUDA’s jurisdiction—have seen their water bodies diminish in size since being integrated into the Ahmedabad Municipal Corporation (AMC) limits. Official sources indicate that AUDA’s TP scheme drafts—initially designed for village lands that were later incorporated into the city—resulted in a reduction of land…

InfrastructureLatest Stories

Rajasthan to Study Feasibility of Satellite Towns Near Jaipur

Representative image created by AI JAIPUR: The state government is conducting feasibility studies to develop satellite towns following a recent Budget announcement, as stated by Urban Development and Housing Minister Jhabar Singh Kharra. “We are in discussions with a multinational company to establish satellite towns around Jaipur. We aim to complete the feasibility within a few months,” Kharra remarked. Senior officials from the Urban Development and Housing department indicated that these planned townships aspire to mirror projects like Gujarat’s GIFT City and Hyderabad’s HITEC City. The targeted small towns include Bassi, Bagru, Chomu, and Kotputli. An official noted, “The concept…

IndustryLatest Stories

Ghaziabad: UPSIDA Allocates 200+ Long-Idle Industrial Plots

Here’s a rewritten version of your content: Representative image created by AI GHAZIABAD: In the Sahibabad Industrial Area, 211 plots of varying sizes have been underutilized. According to Pradeep Satyarthi, regional manager of the Uttar Pradesh State Industrial Development Authority (UPSIDA), these plots have been subdivided and reallocated for new industries. A new policy allows owners of struggling industries to sell 75% of their land by breaking it into smaller plots of at least 4,000 sqm, while retaining 25% for continued operations. The subdivided parcels are sold in three price categories: Rs 16,960/sqm, Rs 18,930/sqm, and Rs 25,780/sqm. In Sahibabad…

Latest StoriesResidential

Over 26,000 Amrapali flats ready; 8,000 by Sept 2025

NOIDA: National Buildings Construction Corporation (NBCC) has announced that it will complete the construction of 8,000 flats in the halted projects of Amrapali Group by September 2025. This marks a delay of six months from the original deadline of March, due to delays caused by GRAP restrictions and funding issues. Of the 37,000 units NBCC was tasked with completing under a Supreme Court-appointed receiver, 26,800 flats have already been constructed. The final set of stalled projects, Adarsh Awas Yojna, is now expected to be ready by March 2026. As of now, approximately 13,300 homebuyers have taken possession of their flats.…

Housing FinanceLatest Stories

NHB Unveils Refinance List to Prevent Misuse

MUMBAI: In a significant move towards transparency, the National Housing Bank (NHB) has released, for the first time, the list of beneficiaries under its refinance scheme. This initiative aims to prevent the misuse of NHB’s name by various lending institutions. This decision follows the exposure of Aviom India Housing Finance, which reportedly used outdated NHB refinance sanction letters, some dating back three to four years, to obtain loans from banks. “The NHB is committed to ensuring such incidents as those involving Aviom do not occur again. By making its refinance list public, it seeks to deter fraudulent entities from leveraging…

InfrastructureLatest Stories

Ludhiana to Build Construction and Demolition Waste Plant

Representative image created by AI LUDHIANA: After years of delays, Ludhiana’s civic authorities have launched a long-awaited construction and demolition (C&D) waste processing plant, aimed at tackling the city’s issue of illegally dumped construction debris. Located in Dhandhari, the facility was inaugurated on Wednesday after an inspection by Municipal Corporation Commissioner Aaditya Dachalwal and senior officials. The project, worth ₹7.39 crore (A$1.3 million), was funded under the Swachh Bharat Mission and the Smart City Mission, and is designed to process up to 100 tonnes of construction waste daily. “This plant will enhance cleanliness throughout the city,” stated Commissioner Dachalwal. “We…

InfrastructureLatest Stories

Chennai’s Third Master Plan Promises City Growth and Height

Representative image created by AI CHENNAI: Residents can soon expect improved proximity to workplaces, more housing choices, and enhanced civic infrastructure. The Chennai Metropolitan Development Authority (CMDA) is developing its third master plan, which will propose increased Floor Space Index (FSI) in key areas, mixed-use developments, and gradual upgrades to support compact, vertical city growth. The upcoming master plan aims to reshape Chennai’s skyline by boosting FSI in strategically identified zones such as metro corridors, entertainment hubs, commercial centers, and industrial zones to encourage vertical development. “We need to optimize urban space. Strategically increasing FSI near metro stations, shopping malls,…

IndustryLatest Stories

Embassy REIT Plans ₹20 Billion Bond Sale, Say Sources

MUMBAI: Embassy Office Parks REIT in India is negotiating with bankers to secure 20 billion rupees ($232.79 million) by issuing five-year corporate bonds, according to three sources familiar with the situation, who asked to remain anonymous due to the private nature of the talks. The firm aims to finalize this funding round by the end of the month. Mutual funds and some insurance companies are expected to show strong interest in the debt sale, as the bonds are rated ‘AAA’ by Crisil. Embassy REIT will approach the bond market for the second time this year, following a successful raise of…