Category: Latest Stories

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IndustryLatest Stories

E-Khata Streamlines Bengaluru’s Property Management: GBA Official

BENGALURU: Munish Moudgil, Special Commissioner (Revenue & IT) of the Greater Bengaluru Authority (GBA), announced that the integration of e-khata with the Kaveri property registration portal has resolved issues in Bengaluru’s property management. Prior to the e-khata integration, around 85% of Kaveri transactions were linked to unauthorized layouts, illegal revenue sites, unapproved subdivisions, or faulty ownership records. In the 2024-25 fiscal year alone, over 75,000 such transactions occurred before e-khata was implemented on October 1, 2024. Following this integration, those instances dramatically decreased, according to Moudgil. The GBA Commissioner noted that some entities benefiting from the previous opaque manual process,…

CommercialLatest Stories

Flexible Workspace Earnings Rise on Strong Demand, Premium Shift

RealtyDailyNews Intelligence Group reports that the four publicly traded companies in the flexible workspace sector—WeWork India Management, Smartworks Coworking Spaces, IndiQube Spaces, and Awfis Space Solutions—concluded FY26 with strong performance. This success is attributed to persistent demand from global capability centers, a trend toward premium office spaces, and increased adoption of managed office formats. These firms achieved double-digit revenue growth alongside margin improvements, projecting over 20% growth in the current fiscal year. Margin enhancements are primarily due to the maturation of centers and scaling efficiencies rather than pricing, as fixed costs are diluted over a larger occupancy base. Further margin…

Latest StoriesRegulatory

NRI Investor Claims Villa Barter Scam; Builder Denied Bail

GURUGRAM: A local court has denied bail to builder Devendra Pandey, accused of defrauding an NRI investor in a multi-crore commercial property deal associated with a project in Sector 85. The court found that the allegations suggested a “deliberate act of deception” and possibly a criminal conspiracy. In an elaborate ruling, Additional Sessions Judge Dr. Gagan Geet Kaur dismissed Pandey’s regular bail plea related to an FIR filed at Kherki Daula police station under Sections 409, 420, and 120B of the IPC, in addition to the Haryana Protection of Interest of Depositors in Financial Establishments Act. The case was brought…

Latest StoriesResidential

Delhi’s Small Residential Buildings: No More Physical Inspections for Regularisation

NEW DELHI: The Municipal Corporation of Delhi (MCD) has eliminated the requirement for mandatory physical inspections for the regularization of residential buildings up to 105 square meters, officials announced on Wednesday. According to an official statement, this decision aims to simplify the building regularization process and mitigate delays in resolving pending cases. Under the updated system, property owners will no longer require a physical inspection by an engineer for regularization approval. Instead, applicants can submit a certified undertaking by an authorized architect along with an online fee. “This decision was made to reduce procedural obstacles and enhance citizen-friendliness in civic…

IndustryLatest Stories

Arkade Developers’ Net Profit Falls 96.63% to ₹5.29 Crore

NEW DELHI: Arkade Developers has experienced a significant decline of 96.63% in its net consolidated profit for the fiscal year 2025-26. The profit after tax was reported at ₹5.29 crore compared to ₹156.92 crore in FY25, as per the company’s BSE filing. The net consolidated income rose to ₹828.16 crore in FY26, reflecting a 19.23% increase from ₹694.60 crore in FY25. In Q4 FY26, net total income surged by 48.18% to ₹199.06 crore from ₹134.34 crore year-over-year. However, the company faced a loss after tax of ₹109.56 crore in Q4 FY26, contrasting with a profit after tax of ₹32.26 crore…

CommercialLatest Stories

Smartworks to invest ₹70 crore for 4.92 lakh sq ft office in Bengaluru

NEW DELHI: Smartworks Coworking Spaces has secured a lease for 4.92 lakh sq ft at Sattva Aura in Bengaluru. The company announced that the expansion will necessitate an investment of approximately ₹70 crore, which will be financed through internal accruals or proceeds from an issue. As of March 31, 2026, Smartworks reported a leased capacity of 13.7 million sq ft and an operational capacity of 10.1 million sq ft, achieving an operational capacity utilization rate of 82%. With a total footprint of 16.1 million sq ft across 66 centers in 15 cities throughout India and Singapore, the company generated revenues…

Latest StoriesRegulatory

Kolkata sets May 27 deadline for illegal building hearings

KOLKATA: The KMC has set a deadline of May 27 for those who received new illegal building notices in the last 24 hours. On Sunday, six under-construction buildings faced demolition, while several structures in Tiljala, Beleghata, and Kasba were declared illegal and received KMC hearing notices. Some of these notices were issued to buildings already occupied by residents. Residents of Elite Primo on G J Khan Road in Tiljala protested, claiming the developer misled them about the properties’ legality. Five buildings, including a restaurant in Beleghata, received similar notices. The Tiljala-Topsia area falls within the ‘Red Zone’ for alleged illegal…

Latest StoriesResidential

Register Rental Agreements Online: Simplify with Maharashtra’s Help

PUNE: The registration department is advising property owners to execute registered leave-and-licence agreements instead of relying on notarized rental agreements. They warn that unregistered agreements could lead to legal complications, particularly during police verifications and tenancy disputes. According to officials, registered online agreements provide stronger legal standing and are seamlessly integrated with police records through the Crime and Criminal Tracking Network and Systems (CCTNS). “Once a leave-and-licence agreement is registered online, tenant details are automatically shared with the police. Property owners do not need to submit them separately,” explained Abhaysinh Mohite, Deputy Inspector General (IT) of the registration department. He…

CommercialLatest Stories

Pune Office Leasing Declines, Rents Rise Amid Supply Shortage

PUNE: Demand for office space in Pune saw a decline in the first quarter (January-March) of 2026, with net absorption dropping to 1.1 million sq. ft. from 2 million sq. ft. in the same period last year, according to Anarock data. Experts believe this decrease stems from the strong leasing activity in 2025, rather than a structural slowdown. P. Vilas, head of operations at Knight Frank India’s Pune branch, mentioned that although leasing has slowed down, Global Capability Centers (GCCs) still play a significant role in driving demand, accounting for 55% of Pune’s office market, well above the 47% average…

InfrastructureLatest Stories

Maharashtra Cabinet Waives ₹637 Crore in Fees for Nagpur Project

NAGPUR: The Maharashtra cabinet has approved a full waiver on stamp duty and registration charges for land acquisitions related to the New Nagpur Business District and New Outer Ring Road projects. This decision is anticipated to expedite the implementation of these significant infrastructure initiatives in the Nagpur district. The resolution was passed during a cabinet meeting presided over by CM Devendra Fadnavis, which stated that private land necessary for these projects will be acquired via direct purchases and negotiations with landowners. As per government reports, stamp duty and registration fees for land transactions linked to these projects amount to approximately…