Category: Latest Stories

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Latest StoriesRegulatory

Court Directs Handover of Parkview Residences to RWA

MOHALI: In a significant victory for the residents of Parkview Residences, Bestech, Sector 66, the Subdivisional Magistrate Court in Mohali has ordered the developer to transfer all maintenance responsibilities to the Resident Welfare Association (PVRAOWA) by July 23. The final ruling, issued by SDM Damandeep Kaur, concludes a lengthy legal dispute between the RWA and developers M/s Globus Projects Ltd. and Bestech India Pvt. Ltd. Despite selling all units, the developers had been managing the society through their agency, Park View Facilities Pvt Ltd, without the residents’ approval. Established under the Punjab Apartment Ownership Act, 1995, and registered on July…

IndustryLatest Stories

Commercial assets make up 62% of ₹6,500 crore Q2 2025 deals

Sure! Here’s a rewritten version of the content: NEW DELHI: The real estate market in India experienced a notable decline in activity during Q2 2025, with total deal value decreasing by 35% quarter-on-quarter to USD 775 million, despite continued institutional interest in commercial properties and structured investments, as highlighted in a report by Grant Thornton Bharat. During this quarter, 17 deals were recorded, a drop from 28 in Q1 2025, resulting in a 39% decline in overall transactions. Nonetheless, the quarter was supported by a few significant transactions that accounted for over 90% of the total deal value. The standout…

IndustryLatest Stories

Union Home Minister Leads Meeting on Delhi Master Plan 2041

NEW DELHI: On Tuesday, Union Home Minister Amit Shah led a high-level meeting to assess the Delhi Master Plan 2041 (MPD-2041), which included key figures such as Delhi Chief Minister Rekha Gupta and Union Minister Manohar Lal Khattar. Also present was Delhi’s Home and Urban Development Minister Ashish Sood, and this meeting follows a review session held the previous day at the Delhi Secretariat focused on the MPD-2041’s provisions. The Delhi Development Authority (DDA) submitted a draft of the master plan to the Union Ministry of Housing and Urban Affairs in April 2023. The plan is currently pending final approval.…

IndustryLatest Stories

PropShare Titania SM REIT Files ₹473 Crore Offer

NEW DELHI: Property Share Investment Trust (SM REIT) has submitted crucial information regarding their second scheme, PropShare Titania, aggregating up to ₹473 crore. The bidding period will commence on July 21, 2025, and conclude on July 25, 2025. The price range for each Titania unit is set between ₹10 lakh and ₹10.6 lakh. Investors can bid for a minimum of one Titania unit, with subsequent bids in multiples of one unit, at a minimum investment of ₹10,00,000. The IPO consists solely of a fresh issue of Titania units, with no component for sale. Property Share will contribute a minimum of…

CommercialLatest Stories

Executive Centre aims to raise ₹2,600 crore for India IPO

The Executive Centre is set to launch an initial public offering in Mumbai with the potential to raise ₹26 billion ($303 million), as reported by sources familiar with the situation. This move aims to leverage the growing demand for workspace across India. The flexible workspace provider has engaged Kotak Mahindra Capital Co. and ICICI Securities Ltd. to facilitate the listing process. The company intends to submit preliminary documentation, known as a draft red herring prospectus, shortly. Neither the company nor its financial advisors have responded to requests for comment. The Executive Centre will join other companies like Wework India Management…

CommercialLatest Stories

WeWork India Secures Sebi Approval for ₹1,000 Crore IPO

NEW DELHI: WeWork India, a flexible workspace provider, has received approval from the Securities and Exchange Board of India (SEBI) for its ₹1,000-crore initial public offering (IPO). The Bengaluru-based co-working firm, operating under the WeWork brand, is promoted by Enam Securities in India. As per the company’s draft red herring prospectus (DRHP), the IPO consists of a fresh issue of ₹750 crore and an offer for sale (OFS) of ₹250 crore by Enam. Once listed, shares will trade on both BSE and NSE with a face value of ₹10 each. The proceeds from the fresh issue will be allocated towards…

Latest StoriesRegulatory

Belagavi civic body records ₹44.7 crore in Q1 property tax

BELAGAVI: The Belagavi City Corporation (BCC) has set an ambitious goal of collecting Rs 75 crore in property tax for the financial year 2025-26. So far, the civic body has collected Rs 44.7 crore in the first quarter, aided by a 5% rebate scheme that ended on June 30. This figure represents the highest Q1 property tax collection in the BCC’s history, attributed to an effective awareness campaign about the rebate and diligent efforts to stop revenue losses. With Rs 44.7 crore already in hand, the BCC aims to raise the remaining Rs 30 crore in the upcoming quarters to…

IndustryLatest Stories

Karnataka Urban Development: Hope for B Khata Property Owners

BENGALURU: Good news for B khata property owners awaiting building plans, Cauvery water connections, and electricity supply. Dr. Rajendra Prasad, the Deputy Chief Minister’s personal secretary, has reached out to the Additional Chief Secretary of the Urban Development Department to address the concerns of over 150,000 property owners affected by the Supreme Court’s ruling on illegal constructions. This initiative stems from a letter by former BJP Bengaluru South president NR Ramesh. He highlighted, “Most buildings are constructed on B khata properties. In the interest of property owners, a plan should be devised to sanction building plans for these properties, possibly…

InfrastructureLatest Stories

CM directs UDD to fast-track Maan-Mhalunge TP scheme clearance

PUNE: During a recent review meeting on civic and infrastructure matters, Chief Minister Devendra Fadnavis directed the urban development department to expedite the clearance of the Maan-Mhalunge town planning scheme in Hinjewadi, according to senior officials from the Pune Metropolitan Region Development Authority (PMRDA). “The CM specifically instructed department officials to address the delays and ensure the proposal is processed without further setbacks,” said a senior PMRDA official who attended last week’s meeting. The PMRDA has received technical approval for four of the six proposed town planning schemes from the urban development department (UDD), but government notifications are still awaited.…

InfrastructureLatest Stories

Noida Aims for Firefight Tech Upgrade as Buildings Rise

Representative image created by AI NOIDA: The fire department is enhancing its firefighting resources by procuring high-pressure foam extinguishers, capable of extinguishing fires in buildings up to 100 storeys high. The technology, which was recently demonstrated at the fire safety expo in Greater Noida, was effectively tested by the fire department at the city’s tallest edifice — the 74-storey Supertech Supernova tower located in Sector 94. The Compressed Air Foam System (CAFS) technology utilizes a high-pressure foam delivery mechanism that can sustain pressure even at great heights. Fire officials indicate that high-rise fires present significant challenges, as water pressure diminishes…