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IndustryLatest Stories

Kalpataru Launches Kandivali East Redevelopment Project

NEW DELHI: Kalpataru has initiated a cluster redevelopment project involving five neighboring societies in Ashok Nagar, Kandivali East, Mumbai. The development covers 2.8 acres, with a free sale potential of 0.37 million square feet of carpet area and an estimated gross development value (GDV) of approximately ₹1,250 crore. In Q4 FY26, the pre-sales value reached ₹1,833 crore, a six percent increase from ₹1,724 crore in Q4 FY25. Collections totaled ₹1,487 crore, up 41 percent from ₹1,057 crore the previous year, with an area sold of 1.15 million square feet. Average sale realization during this quarter was ₹15,969 per square foot.…

CommercialLatest Stories

Five REITs distribute ₹2,566 crore to unitholders in Q4 FY26

NEW DELHI: For the quarter ending March 31, 2026, India’s five publicly listed real estate investment trusts (REITs) have dispersed over ₹2,566 crore to more than 4.25 lakh unitholders, as reported by the Indian REITs Association. Throughout the entire financial year 2025-26, the total distributions by these five REITs surpassed ₹8,900 crore. The five listed REITs include Brookfield India Real Estate Trust, Embassy Office Parks REIT, Knowledge Realty Trust, Mindspace Business Parks REIT, and Nexus Select Trust. As of Q4 FY26, the gross asset value in the Indian REIT market stood at over ₹2.72 lakh crore, while the total market…

IndustryLatest Stories

Puravankara buys 14.57 acres in Mandur, Bengaluru

Representative image NEW DELHI: Puravankara has acquired a 14.57-acre land parcel in Mandur, Budigere, Bengaluru, with an estimated gross development value (GDV) of around ₹2,300 crore. Of this, 7.92 acres are under a joint development agreement (JDA), while 6.65 acres were directly purchased by the company. The total saleable area for the project is expected to be approximately 1.8 million sq ft. Ashish Puravankara, Managing Director of the company, stated, “With this latest acquisition, our total land bank in Bengaluru now stands at 25.61 million sq ft.” The company’s development pipeline boasts a cumulative estimated GDV of approximately ₹10,400 crore.…

Latest StoriesResidential

Jaipur: Owner Must Demolish Tilted Ramganj Building in 48 Hours

Representative AI image JAIPUR: The Jaipur Municipal Corporation (JMC) has issued a 48-hour ultimatum to the owner of a dangerously tilted five-storey building located on Jagganath Shah ka Rasta in Ramganj. A recent technical assessment has deemed the structure unsafe, prompting this action. Residents have expressed distress as the building has become increasingly unstable in the past few days. According to Bijendra Singh, deputy commissioner of JMC’s Kishanpole zone, the technical team submitted a report that led to this urgent notice being affixed at the site, instructing the owner to conduct a safe demolition. Authorities have cautioned that failure to…

Latest StoriesResidential

Bihar Requests ₹1,600 Crore from Centre for Rural Housing

PATNA: The state government has officially requested the Centre to release ₹1,600 crore as a “Mother Sanction” under the Pradhan Mantri Awas Yojana–Gramin (PMAY-G). This move comes after the state’s Single Nodal Account (SNA) was fully depleted, requiring new funds to ensure the continued construction of rural housing. Rural Development Minister Shrawan Kumar stated that the request has been forwarded to the Union Ministry of Rural Development for approval, allowing for central assistance to be released in one comprehensive approval. This would enable ongoing payments to eligible beneficiaries. As per the minister, Bihar has utilized ₹5,566.08 crore on PMAY-G initiatives…

Latest StoriesResidential

Kerala’s LSG Minister: No Plans to Dismantle LIFE Mission Housing

KOZHIKODE: K M Shaji, the local self-government minister, stated that the UDF government has not decided to abolish the LIFE Mission housing scheme. Shaji informed reporters in Malappuram that various powers assigned to grama sabhas in panchayats—seen as a true representation of Gandhian gram swaraj—have been curtailed over the last decade. “Restoring these powers does not equate to dismantling the LIFE Mission. We have never suggested such an action,” he clarified. Shaji emphasized that the new government does not intend to dismantle initiatives established by the previous administration. “Government is a continuum. When a new government takes office, it cannot…

IndustryLatest Stories

Supreme Court Ruling Delays Smart Meter Rollout in Karnataka

Representative Image BENGALURU: The government’s initiative to implement smart meters for new electricity connections across the state has resulted in significant administrative hurdles, exacerbated by confusion regarding the Supreme Court’s mandate for mandatory occupancy certificates (OC). Smart meters are anticipated to minimize transmission losses, enhance billing accuracy, and facilitate real-time monitoring of electricity usage. However, the Supreme Court’s ruling, aimed at reinforcing building compliance standards, has inadvertently impeded progress in modernizing the power sector. The program, launched nearly a year ago, was initially targeted for all new and temporary electricity connections in the jurisdictions of Bangalore Electricity Supply Company (Bescom)…

IndustryLatest Stories

Kolkata Civic Body Targets Buildings for Demolition

KOLKATA: The municipal authorities have issued demolition notices for several buildings in Tiljala and Beleghata, giving residents just 48 hours to vacate what have been termed “unauthorised” properties. Many residents, who settled in these buildings over the last 15 years, face the anxiety of sudden displacement, particularly since the developers are currently uncontactable. Residents from the affected buildings in Tiljala protested on GJ Khan Road, claiming they were misled by the developer into believing the properties were legitimate. “Today, a notice was posted on our building, yet the developer’s phone is switched off. Where are we supposed to go with…

Latest StoriesRegulatory

SRA Targets 219 Rehab Buildings in Mumbai Lacking OC

Representative AI image MUMBAI: The state government has initiated an amnesty scheme aimed at regularizing buildings lacking an Occupancy Certificate (OC). In response, the Slum Rehabilitation Authority (SRA) has issued notices to over 200 buildings citywide that have not obtained an OC but have been allocated to eligible slum dwellers. According to SRA data, there are 219 SRA rehabilitation unit buildings without an OC across the city’s 24 administrative wards. Consequently, the slum dwellers residing in these buildings are denied corpus funds for maintenance, and developers often pressure them to occupy the units before an OC is acquired to avoid…

CommercialLatest Stories

Knowledge Realty Trust to invest ₹700 crore in Bengaluru office space

NEW DELHI: Knowledge Realty Trust (KRT), a realty firm, plans to invest Rs 700 crore over the next three years to develop 1.4 million sq ft of office space in Bengaluru as part of its expansion strategy, according to a company executive. KRT is a real estate investment trust (REIT) backed by the Sattva Group and investment firm Blackstone. In an interview with PTI, KRT’s CEO, Shirish Godbole, stated that the company is actively pursuing the acquisition of prime office assets to drive organic growth. Godbole noted that KRT is performing well and expects to maintain its growth momentum in…