Category: Latest Stories

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IndustryLatest Stories

Construction Costs Rise 25% Amid Global Conflicts: CREDAI

NEW DELHI: Since the onset of global conflicts, construction costs have surged by over 25%, primarily due to supply chain interruptions, labor migration, and increased prices for raw materials. Top builders have noted shortages of essential materials, which are exacerbating the issue. Vikas Oberoi, chairman and managing director of Oberoi Realty, expressed during the FY26 earnings call, “Rising costs for energy, aluminum, and glass are stressing us out. This affects the entire industry and is beginning to take a toll.” Experts believe that these crises may serve as a catalyst for leaders to outpace less agile competitors within the industry.…

CommercialLatest Stories

Grade-A office vacancy could drop 50 bps this fiscal: Crisil

NEW DELHI: Vacancy rates in India’s Grade A commercial office space are projected to decrease by approximately 50 basis points, landing between 15.5% to 16% by the end of the current fiscal year, as forecasted by Crisil Ratings. This reduction is anticipated to stem from robust net leasing growth and the completion of ongoing projects. Notably, vacancy rates have consistently dropped by around 50 basis points annually over the past two fiscal years. Net leasing is expected to rise by 6-7% this fiscal, largely driven by flexible workspace operators responding to increased occupier demand. Additionally, global capability centres are predicted…

Latest StoriesResidential

BPTP to Invest ₹1,200 Crore in Gurugram Residential Project

NEW DELHI: BPTP is set to invest approximately ₹1,200 crore to develop the Downtown 66 residential project in Sector 66, Gurugram, with a projected gross development value of around ₹2,500 crore. The project, situated along Golf Course Extension Road, will feature 504 residences in 3BHK and 3.5BHK layouts. Prices are expected to start at ₹5.32 crore. Architectural and interior design is overseen by AEDAS, with Coopers Hill serving as the landscape consultant. Additional consulting firms involved include RWD1, Manish Consultant, RSMS, ATN Consultants, Sanelac, and Proion. Published On May 26, 2026 at 03:00 PM IST Join a community of over…

Latest StoriesResidential

Prayagraj to launch OTS for house tax arrears in June 2026

PRAYAGRAJ: Over 90,000 property owners in Prayagraj are set to benefit from a significant relief in house tax dues as the Municipal Corporation gears up to introduce a One Time Settlement (OTS) scheme in the first week of June. This initiative will waive interest on outstanding house tax amounts for both residential and commercial properties, offering substantial aid to many defaulters throughout the city. Officials estimate that nearly ₹90 crore in accumulated interest may be waived under this scheme, which will be available for four months until September. The city boasts more than three lakh registered properties; however, around two…

Latest StoriesRegulatory

ED Searches Punjab Properties in Real Estate Fraud Case

CHANDIGARH: On Tuesday, the Enforcement Directorate initiated searches at multiple sites in Punjab and Chandigarh linked to a real estate company and its promoters, as part of a money laundering investigation related to alleged fraud involving the Greater Mohali Area Development Authority (GMADA), according to officials. Locations associated with Chandigarh Royale City Promoters Pvt. Ltd. (CRCPL), Royale Estate Group (located in Zirakpur, Mohali), and other individuals such as Praveen Kansal alias Rocky, Neeraj Kansal, Daljit Singh, Anurag Midha, Liaqat Ali, and Sumit Bansal were targeted during these searches. This action was taken under the Prevention of Money Laundering Act (PMLA).…

IndustryLatest Stories

Ahmedabad Civic Body’s Property Tax SOP for Businesses with Free Parking

AHMEDABAD: The Ahmedabad Municipal Corporation (AMC) has launched a new initiative aimed at improving traffic flow and decreasing the pressure from unauthorized roadside parking. This is part of the ‘Comprehensive Policy 2026 to Transform Traffic, Parking, Encroachment, Road Safety, and Cattle Management Across the City’. Understanding the importance of collaboration with commercial establishments in addressing the city’s traffic challenges, the AMC has introduced special measures to encourage these businesses. Under this scheme, commercial establishments that open their parking facilities to the public at no cost will be eligible for property tax exemptions corresponding to the designated parking area. The AMC…

InfrastructureLatest Stories

Residents demand Kirti Nagar-Palam metro extension to Dwarka Expressway

GURUGRAM: Residents in newly developed sectors of Gurgaon and Dwarka, Delhi, are advocating for the proposed Kirti Nagar-Palam Metro corridor to be extended to include Dwarka and the Dwarka Expressway. They cite increasing traffic congestion and inadequate public transport options connecting the two areas. A joint delegation from the Dwarka Forum and the Dwarka Expressway Gurugram Development Association (DXP-GDA) met with West Delhi MP Kamaljeet Sehrawat, presenting their request for improved metro and bus services for commuters traveling between these regions. Earlier this month, the Delhi government approved a new 9.9-km metro line connecting Palam and Kirti Nagar, which will…

IndustryLatest Stories

Govt Implements Category-Based Land Valuation in Taleigao

Representative Image PANAJI: The revenue department has revamped its land valuation methodology, transitioning from a uniform rate system to a category-based approach. This new system assigns distinct values to various areas within a village, depending on location and available amenities, starting with Taleigao as a pilot project. Previously, the revenue department set a minimum land rate for the entirety of a village. The new approach enables the department to assess individual plot values based on their distance to amenities and services. The department stated that categorizing villages into smaller subdivisions with varying land valuation rates represents a “more practical, rational,…

InfrastructureLatest Stories

Telangana secures ₹13,600 crore refinancing for Hyderabad Metro

HYDERABAD: On Monday, the Telangana government secured a refinancing agreement worth ₹13,600 crores from the Indian Railway Finance Corporation (IRFC) for the Hyderabad Metro Rail Project. The agreement was signed in Delhi by officials from IRFC, L&T Metro Rail (Hyderabad) Ltd, and Hyderabad Metro Rail Ltd (HMRL). Chief Secretary K Ramakrishna Rao, who was present at the signing, stated that this refinancing would significantly alleviate financial pressures on the Hyderabad Metro Rail project, enhancing its long-term economic viability, according to a government release. This initiative is aimed at reducing the current debt and facilitating future expansion of the metro system.…

Latest StoriesResidential

AU Real Estate to Invest ₹1200 Crore in Ghaziabad Project

NEW DELHI: AU Real Estate is set to invest around ₹1200 crore in developing Cosmos Corner, a residential project on approximately 5.6 acres in Siddharth Vihar, Ghaziabad. The land, acquired by Cosmos REIT—a fully owned subsidiary—was purchased for ₹336 crore through an auction by the Uttar Pradesh Awas Vikas Parishad. This project will feature approximately 831 residential units across 40 floors, with an estimated revenue potential of ₹1600 crore upon completion. Currently, homes are priced starting at ₹6,900 per sq ft, with offerings including 3BHK apartments of 1,780 sq ft, 3BHK with a multipurpose room at 1,972 sq ft, and…