Category: Latest Stories

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Latest StoriesResidential

Azim Premji’s Son Purchases ₹45.7 Crore Home in Bengaluru

Sure! Here’s a rewritten version of the content: BENGALURU: Tariq Premji, son of renowned philanthropist and Wipro founder Azim Premji, has purchased a luxury duplex penthouse in central Bengaluru for ₹45.7 crore, as per property registration documents from Zapkey. The apartment is situated in “27 Summit,” an ultra-luxurious residential tower in Sampangiramnagar, close to the city’s CBD. Developed by Maia Estates-backed Nestled Haven Developers, the transaction was recorded in February of this year. The duplex, known as Penthouse B, occupies the 25th and 26th floors of the tower, covering a carpet area of 7,065 square feet and a super built-up…

Latest StoriesResidential

Seven Pune colonies slated for redevelopment, residents notified to vacate

PUNE: The civic authorities have initiated plans to redevelop municipal colonies that have deteriorated over the decades. Notices have been issued to residents of seven housing complexes across civic areas, requesting them to vacate their homes for the rebuilding process. Officials from the Pune Municipal Corporation (PMC) reported that approximately 1,900 flats are in unsafe conditions, emphasizing that residents must relocate. Priority will be given to 288 houses during the redevelopment initiative. Plans are currently in discussion, with the project potentially being executed by PMC itself or through a build, operate, and transfer model, possibly involving a private developer. Residents…

CommercialLatest Stories

ICICI Prudential AMC Acquires VIOS Tower in Mumbai for ₹525 Cr

Investment management firm ICICI Prudential Asset Management Company has acquired nine floors of the VIOS Tower, a commercial property, from global asset manager Varde Partners in Wadala, central Mumbai, for over ₹525 crore. The acquisition provides more than 3 lakh sq ft of office space through the ₹2,500-crore ICICI Prudential Office Yield Optimiser Fund II, dedicated to acquiring completed and pre-leased office properties in major Indian markets. The office space, spanning from the ground to the 8th floor, is fully leased to established companies and is anticipated to yield more than 8% annually, with lease agreements featuring a 5% rental…

CommercialLatest Stories

Mumbai: New Commercial Tower Proposed for Mulund Salt Pans

MUMBAI: Navbharat Mega Developers Private Limited has submitted a proposal for the transformation of the salt pans in Mulund, Bhandup, and Kanjurmarg to the Dharavi Redevelopment Authority. This company is the special purpose vehicle responsible for executing the Rs 20,000-crore Dharavi Redevelopment Project (DRP), with the Adani Group holding an 80 percent stake; the firm was previously known as Dharavi Redevelopment Project Private Limited. The proposal outlines the construction of one commercial building and 18 residential towers (all 180 metres high) on the Mulund salt pan, along with a yet-to-be-determined number of towers for Dharavi residents who qualify for rehabilitation.…

Latest StoriesRegulatory

ED Seeks Witness Protection in Gurugram Homebuyer Fraud Case

NEW DELHI: The Enforcement Directorate (ED) has reached out to police forces in three states, requesting them to ensure the safety of homebuyers and witnesses who have reported receiving threats from Swaraj Singh Yadav, the arrested promoter of Gurugram’s Ocean Seven Buildtech Pvt Ltd. In November 2025, the ED arrested Yadav in connection with a money laundering case tied to claims that he duped buyers of affordable housing projects through unjust cancellations and re-allotments. During a bail hearing on May 18, Yadav’s victims informed the designated court in Delhi about experiencing “threats,” “intimidation,” and “coercive tactics” aimed at discouraging them…

IndustryLatest Stories

Prestige Estates’ Profit Soars 111.61% to ₹1,305.4 Cr in FY26

NEW DELHI: Prestige Estates Projects has announced a remarkable 111.61% growth in its consolidated net profit for the fiscal year 2025-26, reaching ₹1,305.4 crore compared to ₹616.9 crore in FY25, according to a filing with BSE. The company’s overall consolidated income for FY26 amounted to ₹13,195.5 crore, up by 70.58% from ₹7,735.5 crore in FY25. In the fourth quarter of FY26, the net consolidated income surged by 160.71% to ₹4,143.5 crore, rising from ₹1,589.3 crore in the same quarter of the previous year. The profit after tax for Q4 FY26 was ₹291.8 crore, compared to ₹43.1 crore reported during the…

IndustryLatest Stories

MHADA Assesses Housing Project Progress in Kalyan Taluka

NEW DELHI: Sanjeev Jaiswal, vice-president and CEO of the Maharashtra Housing and Area Development Authority (MHADA), conducted an inspection of housing projects being developed by the Konkan Housing and Area Development Board in the Kalyan taluka of Thane district. During his visit to project sites in Khoni, Shirdhon, Gotheghar, and Bhandarli, Jaiswal reviewed the progress of ongoing construction. He emphasized the need for quality, transparency, and timely completion of projects. He further assessed various aspects such as construction quality, internal road access, water supply, electricity provisions, sewage management, and the green spaces and civic amenities planned for residents. The Khoni…

Latest StoriesResidential

MHADA Begins Allotment of 827 Rehab Units in Worli BDD Chawl

NEW DELHI: The Maharashtra Housing and Area Development Authority (MHADA) has initiated the allocation process for 827 rehabilitation tenements within the Worli BDD Chawl redevelopment project. This allocation is targeted at eligible residents in wings F, G, and H of rehabilitation building one. On the first day, allotment letters were issued to 41 eligible residents, with 36 individuals receiving keys to their units after submitting the necessary documentation. The allotment and possession letters are being distributed at MHADA’s project office located in Sumer Kendra, Worli, on weekdays from 11 am to 6 pm, excluding public holidays. The Worli BDD Chawl…

Latest StoriesRera

UP-RERA Directs Banks to Implement New Real Estate Account Norms

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has urged banks and financial institutions to adhere to the updated banking regulations and operational guidelines for accounts related to RERA-registered real estate projects. The authority conducted an awareness meeting with nationalized and scheduled banks at the Bank of Baroda’s regional office in Lucknow to discuss the revised project account directives issued on May 11, 2026. According to the new regulations, each RERA-registered project must maintain three distinct bank accounts: a collection account, a separate account, and a transaction account. At least 70% of the funds collected from homebuyers must…

CommercialLatest Stories

Telangana CM Orders Officials to Create GCC Policy

File Photo HYDERABAD: On Wednesday, Telangana Chief Minister A. Revanth Reddy directed officials to develop a robust Global Capability Centres (GCC) policy aimed at encouraging companies to set up operations outside the Hyderabad Core Urban Regional Economy (CURE) area. As per the announcement, he urged governmental support for new GCCs to be established along highways in Nizamabad, Karimnagar, and Warangal, which are situated between CURE and beyond CURE areas. The Chief Minister, in collaboration with Minister D. Sridhar Babu, conducted a review meeting concerning various aspects of the IT and Industries departments. This meeting was attended by Chief Secretary K.…