Category: Latest Stories

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CommercialLatest Stories

Workday Leases 1.94 Lakh Sq Ft in Chennai for GCC Setup

Workday has secured a lease for 194,000 square feet in Chennai to establish a global capability center, marking one of the largest enterprise office commitments in the city with Brookfield Properties. As per the lease documentation from Propstack, the arrangement between Cowrks and Workday consists of two phases featuring different commercial structures. In Phase I, Workday is leasing 100,000 sq. ft. as a managed office across the 3rd and 4th floors of Building 1C at Millenia Business Park, at an all-inclusive monthly rate of Rs. 310.8 per sq. ft. This rate covers warm shell rent, CAM, capex rent, OPEX, signage,…

Latest StoriesResidential

Haryana Updates Allotment Rates for Affordable Housing Projects

CHANDIGARH: The Haryana Cabinet has approved an amendment to the Affordable Housing Policy-2013, increasing the allotment rates for apartment units in affordable group housing projects by 10-12%. During a meeting led by Chief Minister Nayab Singh Saini, the Cabinet authorized this amendment under section 9A of the Haryana Development and Regulation of Urban Areas Act, 1975, according to an official statement. The allotment rates for apartment units are specified in Clause 5(i) of the Affordable Housing Policy-2013. These rates were first established in 2013, with revisions in 2021 and 2023. The decision comes following requests from industry representatives, including the…

Latest StoriesRegulatory

NCLAT Rejects Stay on Adani’s ₹14,535-Cr Jaiprakash Bid

NEW DELHI: On Tuesday, the Insolvency Appellate Tribunal rejected an interim stay on Vedanta Group’s plea against the National Company Law Tribunal’s (NCLT) approval of Adani Group’s ₹14,535 crore bid for Jaiprakash Associates Ltd (JAL). The two-member bench of the NCLAT requested a response from JAL’s Committee of Creditors (CoC) within a week and scheduled the case for hearing on April 10. Vedanta Group had been competing to acquire JAL through the insolvency process but faced a setback when lenders approved Adani Enterprises’ resolution plan last November. The NCLT approved Adani’s bid last week. In challenging the NCLT’s decision, Vedanta…

Latest StoriesResidential

Collector Rates Revised; Chandigarh Property Prices Up

CHANDIGARH: Starting from April 1, purchasing property in the city will become more expensive, particularly for residential options. The Chandigarh administration has raised collector rates across all categories, with the most significant increase occurring in the residential sector—up to 33% in plotted areas, up to 25% for housing board flats, and up to 15% for society flats. Last year, there was a nearly 130% increase in collector rates for sectors 1 to 12, 96% for sectors 14 to 37, and 80% for sectors beyond 38. In the previous revision in April 2021, rates for commercial properties were reduced by 10%,…

Latest StoriesRegulatory

Punjab & Haryana HC paves way for FIR vs Emaar India in dispute

CHANDIGARH: The Punjab and Haryana High Court has dealt a setback to Emaar India Ltd, denying its request to quash an FIR that includes allegations of cheating, fraud, and criminal conspiracy against the firm. Justice Mandeep Pannu issued the ruling while rejecting a petition from Emaar India, which sought to dismiss an order from a Gurgaon additional chief judicial magistrate that authorized the FIR against the company and its officials. The case arises from a complaint by Synergy Finhub LLP, which alleges that Emaar India and certain officials were involved in a “well-coordinated” scheme of deception. Central to the allegations…

IndustryLatest Stories

16,000 Old Properties in Nashik Redeveloped in 7 Years

NASHIK: Redevelopment in Nashik has gained significant traction over the past few years, with more than 16,000 old properties demolished and redeveloped in just seven years, according to data from the Nashik Municipal Corporation (NMC). According to NMC, a total of 29,222 properties have been redeveloped in the last two decades. The last seven years alone saw 16,000 older properties being modernized, reflecting a notable upsurge in construction activities as both residents and developers choose to replace outdated structures with new ones, featuring advanced amenities. An annual average of about 2,500 structures, mainly old houses, bungalows, and small residential buildings,…

Housing FinanceLatest Stories

Mumbai: Ex-bank manager, 9 others found guilty in 2004 fraud

MUMBAI: A special CBI court convicted a retired bank manager and nine others in a loan fraud case from 2004 on Tuesday, sentencing them to prison terms ranging from one to five years. The masterminds, Kashinath and Ganesh Pandurang Jadhav, received five years in prison, while former bank official Metha Sastry was given a one-year sentence under the Prevention of Corruption Act. Sastry, the senior manager at the Central Bank’s Prabhadevi branch in Mumbai, neglected essential pre- and post-sanction inspections. The court noted that these checks would have revealed the fraudulent nature of the buyers and their documents. Charges against…

Latest StoriesRera

UP-RERA to Open QPR Filing Window April 1-15, Warns of Penalties

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) will open its portal from April 1 to April 15, 2026, for promoters to upload their quarterly progress reports (QPRs) for the quarter ending March 31, 2026. The authority has instructed all developers of registered projects to update their project details within this specified timeframe, warning that non-compliance may result in regulatory actions. UP-RERA emphasized that the submission of QPRs is required under section 11(1) of the Real Estate (Regulation and Development) Act, 2016. This process is crucial for ensuring transparency and accountability within the sector. The reports provide information…

Latest StoriesRera

RERA Orders Imperia Structures to Compensate Homebuyers ₹55L

NEW DELHI: The Haryana Real Estate Regulatory Authority (Haryana RERA) in Gurugram has mandated Imperia Structures to compensate homebuyers ₹55 lakh for loss of property appreciation, in addition to amounts for mental distress and legal fees. This decision follows a complaint by Harjeet Kaur Dhillon and HS Dhillon concerning a residential unit in ‘The Esfera’ project located in sector 37C, Gurugram. Alongside the ₹55 lakh for appreciation loss, the adjudicating officer has ordered the builder to pay ₹1 lakh for mental distress and ₹50,000 for legal expenses. The buyers had booked their apartment in November 2013, with a promised possession…

CommercialLatest Stories

India’s Flex Office Space Tops 100 Million Sq Ft: IT, GCCs Boost Demand

NEW DELHI: India’s flexible office space has surpassed 100 million sq ft, reaching between 110-114 million sq ft from 2020 to 2025, as per a joint report by CBRE and FICCI. This segment has grown at a compound annual growth rate (CAGR) of 23-25% over the last five years, with total inventory nearly tripling during this period, which underscores the increasing significance of flexible workspaces in the country’s office market. Bengaluru holds the largest share of flexible workspace, with 30–32 million sq ft, followed by Delhi-NCR at 21-23 million sq ft and Pune at 13.6-14.6 million sq ft. The demand…