Category: Latest Stories

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Latest StoriesResidential

ASK Property Fund Sells ₹650 Cr Stake in Mahagun Noida Project

NEW DELHI: ASK Property Fund has successfully exited its ₹650 crore investment in a residential project led by Mahagun Group in Noida, achieving an internal rate of return (IRR) of 21% and a 2.1x multiple, according to the company’s statement. The fund initially invested approximately ₹310 crore in 2021, supporting the project’s growth and providing structured capital for a saleable area of about 2.4 million square feet. Additionally, the fund has completed a full exit from its ₹1,500 crore debt fund launched in 2018, realizing an investment multiple of 1.83x. Published On Mar 24, 2026 at 02:59 PM IST Join…

Latest StoriesRegulatory

Telangana HC reprimands HYDRAA for seizing Hayathnagar plot

HYDERABAD: The High Court has reprimanded the Hyderabad Disaster Response and Asset Protection Agency (HYDRAA) for allegedly seizing a 650 square yard plot in Sahebnagar Kalan, Hayathnagar, located on the outskirts of the city. During a hearing of a petition from the landowner contesting HYDRAA’s actions, Justice NV Shravan Kumar expressed astonishment, stating that interfering in ongoing property disputes is hardly a model of good governance. It is reported that HYDRAA has taken over the property under the pretext of encroachment into a park. Addressing the proceedings, the judge remarked that the courts are equipped to handle encroachments and related…

IndustryLatest Stories

UP: UPSIDA Greenlights 8 New Warehousing, Logistics Projects

Representative AI image LUCKNOW: The Uttar Pradesh State Industrial Development Authority (UPSIDA) has given the green light to eight new projects in the warehousing and logistics sector, with a total investment of approximately Rs 800 crore, as stated by an official spokesperson on Monday. “These approvals, under the Uttar Pradesh Warehousing and Logistics Policy-2022, demonstrate increasing investor confidence in the sector, fueled by incentives, financial aid, and tax exemptions for establishing logistics and storage facilities on private land,” the spokesperson mentioned. The newly approved projects comprise five silos, two warehousing units, and one logistics project, which will be situated in…

Latest StoriesRegulatory

Pune’s PCMC collects ₹80 crore in property tax, may miss targets

PUNE: The Pimpri Chinchwad Municipal Corporation (PCMC) reports a robust response to its amnesty scheme for property tax defaulters, yet the overall tax collections appear to be underwhelming, as the organization is unlikely to achieve its set targets or match last year’s figures. For this fiscal year, PCMC has aimed to generate Rs 1,000 crore from property tax. According to municipal officials, the PCMC has accumulated nearly Rs 80 crore in property tax revenue following the launch of the amnesty scheme on March 1. This initiative provides a 90% penalty waiver for defaulters, applicable only to those who settle their…

IndustryLatest Stories

Embassy Developments’ Subsidiary Ordered to Surrender 78 Acres in Bengaluru

Representative image NEW DELHI: Embassy East Business Park (EEBP), a subsidiary of Embassy Developments, has received an order from the Karnataka Industrial Areas Development Board (KIADB) to surrender possession of a 78-acre land parcel in Bengaluru within 30 days, according to a BSE filing by the company. The order, dated March 16, 2026, concerns land located in the Kadugodi Industrial Area, which EEBP has held under a lease-cum-sale agreement executed in June 2007, set to remain in effect until June 2029. KIADB has invoked provisions under section 34B of the Karnataka Industrial Areas Development Act, 1966, claiming a breach of…

IndustryLatest Stories

Finance Minister: SWAMIH Investment Fund II Launch Underway

File Photo NEW DELHI: The SWAMIH Investment Fund II was announced as part of the recent Union Budget and is set to be officially launched. Its aim is to provide assistance to distressed homebuyers with stalled investments, as Finance Minister Nirmala Sitharaman informed Parliament on Monday. The 2026-27 budget introduced a new Rs 15,000 crore ‘SWAMIH Fund’ designated for completing 1 lakh units in delayed housing projects across various cities. As of January 31, 2026, the Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund has committed investments in 148 projects, according to her response in the Lok Sabha.…

IndustryLatest Stories

Home Prices and Construction Costs May Rise if West Asia Conflict Persists

NEW DELHI: The ongoing West Asian conflict is starting to affect Indian real estate, as industry bodies CREDAI and NAREDCO report rising construction costs due to shortages in some building materials. They expressed concerns over potential delays in project completions caused by these constraints. According to CREDAI National President Shekhar Patel and NAREDCO President Parveen Jain, if the conflict continues, the input costs could rise, inevitably pushing up housing prices as well. “The Indian real estate sector remains relatively stable despite geopolitical tensions, as most raw materials are sourced domestically,” said Patel. However, he noted some temporary supply chain disruptions…

IndustryLatest Stories

U.P. Cabinet Approves Ordinance for Easier Land-Use Change

LUCKNOW: On Monday, the state cabinet approved an ordinance to amend Section 80 of the Uttar Pradesh Revenue Code, 2006. This amendment simplifies the land-use conversion process in areas governed by development authorities, industrial authorities, regulated zones, and the UP Housing and Development Board. Finance Minister Suresh Khanna stated that this change removes the necessity for a separate land-use conversion application when shifting land from agricultural to non-agricultural use. Khanna explained, “Once a building plan is approved by the relevant authority, it will automatically be recognized as land-use conversion.” An official highlighted that the previous system involved a two-step process:…

CommercialLatest Stories

Uttar Pradesh Unveils Private Business Park Policy to Attract Global Firms

LUCKNOW: On Monday, the state cabinet approved the Uttar Pradesh Private Business Park Development Scheme-2025. This initiative aims to establish world-class plug-and-play business parks designed to attract global companies, research and development centers, Global Capability Centers, and various operational hubs to the region. The scheme focuses on providing ready-to-use infrastructure for businesses seeking to set up operations swiftly, thereby minimizing the delays and cost overruns often associated with undeveloped facilities. This is expected to significantly boost investment, employment opportunities, and industrial growth, particularly in the services and technology sectors. According to Alok Kumar, additional chief secretary for infrastructure and industrial…

Latest StoriesRegulatory

BMC Urges MMRDA & MHADA to Resolve ₹2,287 Crore Tax Dues

MUMBAI: The BMC has reached out to two major state agencies—the Mumbai Metropolitan Region Development Authority (MMRDA) and the Maharashtra Housing and Area Development Authority (Mhada)—regarding pending property tax dues exceeding Rs 2,287 crore, urging immediate payment. In correspondence dated March 16, just prior to the financial year-end, the BMC emphasized that property tax is its main source of revenue, essential for urban services and infrastructure development across Mumbai. According to BMC records from January 31, MMRDA owes Rs 1,685.6 crore across 128 properties, which includes Rs 946.2 crore in unpaid taxes and Rs 739.4 crore in penalties. Mhada, on…