Category: Latest Stories

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CommercialLatest Stories

India office leasing expected to rise 12-14% in FY27: Ind-Ra

NEW DELHI: According to India Ratings and Research (Ind-Ra), the commercial real estate sector in India’s office market is expected to stay strong, with FY26 absorption predicted to increase by over 10% year-on-year, reaching around 79-80 million sq ft. For FY27, the rating agency forecasts a 12-14% year-on-year growth in office leasing, anticipating total leasing to hit 85-90 million sq ft. Vacancy rates are expected to stabilize between 12-18%, while rental prices may see a 4-6% increase year-on-year, driven by global capability centres (GCCs) and flexible workspace operators. Ind-Ra notes that volatility linked to the Middle East and the Strait…

IndustryLatest Stories

Shriram Properties to Co-Develop 9.1 Acres in Bengaluru

Representative AI image NEW DELHI: Shriram Properties (SPL) has entered into a joint development agreement (JDA) for a 9.1-acre land parcel in Doddagubbi, North-East Bengaluru. The site offers a development potential of about 6.7 lakh sq ft, with an estimated gross development value (GDV) exceeding ₹600 crore. The project is slated for launch within this financial year. Akshay Murali, Vice President – Business Development at the company, stated, “North-East Bengaluru is rapidly becoming one of the most promising residential growth areas in the city, bolstered by significant infrastructure enhancements, improved connectivity, and consistent end-user demand.” Published On Jun 15, 2026…

CommercialLatest Stories

Green SM Leases 16,000 Sq Ft Office in Gurugram from Urban Vault

NEW DELHI: Urban Vault has recently facilitated a 16,000 sq ft managed office space for Green SM, the electric ride-hailing service affiliated with Vietnam’s Vingroup, located at Paras Twin Towers, Golf Course Road, Sector 54, Gurugram. This office will act as the operational center for Green SM, which began its operations in India on June 5, 2026, targeting Delhi-NCR as its inaugural market. Urban Vault is currently providing workspace infrastructure with approximately 500 seats for Green SM in Gurugram and Bengaluru, with plans to increase capacity to nearly 1,000 seats by year’s end. “India is a pivotal market for Green…

CommercialLatest Stories

DK Vertex Leases 1 Million Sq Ft in Seven Centers

DK Vertex, a co-working platform, has secured one million sq. ft across seven centers in Delhi-NCR, Bengaluru, and Mumbai. The company is providing 10,000 tech-enabled, customizable seats to cater to the needs of startups and businesses. It features a comprehensive recreational business ecosystem, inclusive of podcast studios, ad shoot spaces, wellness zones, recharge pods, and AI-powered concierge support. India’s flexible workspace market is evolving, with expected growth from USD 307.5 million in 2025 to USD 890.5 million by 2034, reflecting a CAGR of 12.16%. As part of the global tech firm Vertex Group, DK Vertex has received an investment of…

IndustryLatest Stories

Gujarat Leads SVAMITVA Drive, Issues Over Half of Property Cards

Representative AI image GANDHINAGAR: The Gujarat government announced on Sunday that the state has become a leader in implementing Phase II of the Pradhan Mantri-SVAMITVA scheme, having issued more than half of the total property cards created across India. The government stated that drone mapping has been successfully completed in over 11,500 villages. According to an official statement, during the second phase of the scheme, which commenced in 2021-22, a total of 32,35,260 property cards were prepared nationwide. Out of these, Gujarat issued 18,50,614 property cards, the highest among all states. The government noted that this scheme addresses a persistent…

CommercialLatest Stories

Eight Indore Commercial Units Sealed for Fire Violations

INDORE: The Indore Municipal Corporation sealed eight commercial establishments on Saturday for non-compliance with mandatory fire safety standards. This action is part of a comprehensive inspection drive targeting commercial, institutional, and high-rise buildings throughout all municipal zones. During these inspections, officials assessed fire safety measures, including extinguishers, fire alarm systems, and hydrant networks. Establishments operating without the necessary fire safety equipment or using non-functional systems received notices detailing the required corrective measures. The civic body commenced sealing operations after these establishments failed to install or repair the required firefighting equipment within the designated timeframe. “Building operators are entirely responsible for…

Latest StoriesRegulatory

Jaipur Courts Handle Multiple FIR-Related Applications Against Builder

JAIPUR: Several applications related to criminal cases against real estate businessman Gyan Chandra Agarwal are currently before the courts in Jaipur, highlighting ongoing investigations into various land and property issues. Records indicate that Pink City Infrastructure Private Ltd. has filed multiple applications through its representatives concerning several FIRs lodged from 2019 to 2023. These applications address matters related to alleged cheating, forgery, criminal conspiracy, and breach of trust. The complainant company has requested judicial oversight regarding the status and progress of the investigations by law enforcement. Notably, despite numerous cases, Agarwal remains at large and has not been arrested. Additionally,…

IndustryLatest Stories

Embassy Group Slams REIT Petition; Bombay HC Gives Sebi 6 Weeks

MUMBAI: Embassy Group, a leading real estate company, has characterized a recent writ petition questioning the “fit and proper” status of certain entities and promoters linked to Embassy Office Parks REIT as a “recycled claim.” This allegation is reportedly part of a persistent campaign orchestrated by Sterling & Wilson. The Bombay High Court has allowed the Securities and Exchange Board of India (SEBI) six weeks to review the representations made by the petitioner. In a statement following the hearing, Embassy Group claimed the petition filed by Chayan Upadhyay is part of a “continuing, orchestrated campaign” targeting the group and its…

Latest StoriesRegulatory

Bombay HC Denies Deemed Conveyance for Housing Society

MUMBAI: The Bombay High Court has annulled an order granting deemed conveyance to a housing society in Andheri West, stating that the competent authority under the Maharashtra Ownership of Flats Act lacked the power to entertain a second application on a finalized issue. Justice Farhan Dubash remarked that the deputy registrar of cooperative societies effectively exercised review powers that are neither recognized under the Maharashtra Ownership of Flats Act (MOFA) nor granted to it. He stated, “The second application was not only premature but also barred by principles akin to res judicata and the doctrine of finality of proceedings.” Justice…

IndustryLatest Stories

Odisha to Introduce New Act for Urban Rental Housing Update

BHUBANESWAR: The state government is gearing up to introduce new legislation to regulate tenancy, including mandatory written agreements, security deposit caps, and the establishment of rent authorities and courts for expedited dispute resolution. The proposed Odisha Urban Area Rent Control Act, 2026, released by the housing and urban development department on Saturday, is set to replace the aging Orissa House Rent Control Act of 1967 and its amendments, marking a significant transformation in urban rental housing governance within the state. Notably, the draft does not stipulate how much rent landlords can charge; that is left to agreements between tenants and…