Category: Latest Stories

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Latest StoriesRegulatory

ED Seizes Anil Ambani’s ‘Abode’ Valued at ₹3,716 Crore

File photo NEW DELHI: The Enforcement Directorate (ED) announced on Wednesday the attachment of Anil Ambani’s Mumbai residence, ‘Abode’, valued at ₹3,716 crore, under the anti-money laundering law. This action precedes Ambani’s anticipated second round of questioning by the agency on Thursday in connection with the alleged bank loan fraud involving Reliance Communications (RCOM). The lavish residence, standing at 66 meters with 17 floors, is situated in Mumbai’s Pali Hill area. The ED has issued a provisional order for the asset attachment under the Prevention of Money Laundering Act (PMLA), citing connections to alleged fraud related to RCOM. The agency…

Latest StoriesRegulatory

CAG Highlights Issues in PMAY-Gramin Bihar Implementation

PATNA: The Comptroller and Auditor General (CAG) of India has raised concerns about irregularities in the implementation of the PMAY-G scheme in Bihar. Allegations include the sanctioning of pucca houses to minors and geo-tagging of houses located in Delhi and Jharkhand. The findings were presented in the state Assembly on Thursday. According to the report, “During the audit of sampled districts, instances were found where houses were sanctioned to ineligible beneficiaries. The PMAY-G does not allow the registration of houses to minors unless specific conditions are met. In September 2017, the central government clarified that if both beneficiaries (husband and…

InfrastructureLatest Stories

Strong, Sustainable Cities Key to Viksit Bharat: Housing Minister

File Photo NEW DELHI: Union Housing and Urban Affairs Minister Manohar Lal stated on Tuesday that India’s urban transformation is now entering a “decisive phase”, emphasizing that the journey to Viksit Bharat by 2047 relies on the development of strong, secure, and sustainable cities. During the inauguration of the 18th edition of ‘Municipalika’ at Bharat Mandapam, the minister noted that approximately 40% of India’s population lives in urban areas, with projections indicating a rise to around 800 million over the next 25 years. “Cities are responsible for nearly 70% of GDP and close to 90% of revenues. The path to…

Latest StoriesRera

Maharashtra Minister: Intensifying Recovery of MahaRERA Dues

MUMBAI: The government is poised to take stringent measures to recover outstanding dues under the Maharashtra Real Estate Regulatory Authority (MahaRERA), as stated by state minister Shambhuraj Desai in the assembly on Thursday. In response to BJP MLA Atul Bhatkhalkar’s inquiry about the non-implementation of MahaRERA orders for compensating homebuyers, Desai mentioned that the government aims to elevate the recovery rate beyond 34 percent. The Centre has urged states to ensure effective RERA implementation for the benefit of homebuyers, with Prime Minister Narendra Modi reviewing the situation with chief secretaries from all states and promoting a robust recovery strategy. Desai…

IndustryLatest Stories

DDA Grants ₹775 Crore Quarters Redevelopment to NBCC

Dilapidated DDA quarters beside a modern high-rise reflect Delhi’s urban transformation in the afternoon sun. NEW DELHI: State-run NBCC (India) has been awarded redevelopment contracts totaling approximately ₹775.27 crore from the Delhi Development Authority (DDA) for a complete overhaul of staff housing colonies in the capital. According to a regulatory filing, the contracts include the redevelopment of DDA staff quarters at Old Rajinder Nagar (ORN) worth about ₹437.79 crore and at Safdarjung Development Area (SDA) valued at ₹337.48 crore. The total project value, excluding GST, is ₹775.27 crore. The projects have been awarded under a project management consultancy (PMC) model…

IndustryLatest Stories

Brigade Group and Primus to Launch Three Senior Living Facilities

NEW DELHI: Brigade Group has teamed up with Primus Senior Living to introduce three senior living communities across Bengaluru and other areas in South India. The forthcoming developments are projected to have a gross development value (GDV) of around ₹750 crore, with two of the three projects integrated into larger township developments. “This collaboration marks a significant milestone in our efforts to broaden Brigade Group’s presence in senior living,” stated Pavitra Shankar, Managing Director of Brigade Enterprises. Published On Feb 27, 2026 at 07:16 AM IST Join over 2 million industry professionals. Subscribe to our newsletter for the latest insights…

CommercialLatest Stories

GCCs Boost Office Leasing to 85-90 Million Sq Ft by FY27

NEW DELHI: India’s commercial real estate sector is expected to maintain steady growth, with gross leasing across the top eight office markets projected to increase by 12%–14% year-on-year, reaching 85-90 million sq ft in FY27, as stated in a whitepaper from India Ratings & Research (Ind-Ra) in partnership with ETRealty. According to the agency, gross leasing is set to reach 79–80 million sq ft in FY26, reflecting a 10% annual increase. Although leasing for the first half of FY26 was recorded at 29.5 million sq ft, which is an 8% drop year-on-year due to a high base and limited availability…

Latest StoriesResidential

Sales growth in residential sector to dip to 5-7% in FY27

NEW DELHI: The residential real estate market in India is set to experience a slowdown in growth in FY27, following a strong rebound post-pandemic. Sales are projected to increase by 5-7% year-on-year, predominantly driven by value growth in the premium and mid-market segments, as per a whitepaper released by India Ratings & Research (Ind-Ra) in collaboration with ETRealty at ETRECA 2026 on February 25 in Mumbai. After a significant expansion during FY23-FY25 and a steadier FY26, the sector is entering a consolidation phase, with high price levels and a strong base effect anticipated to dampen growth rates. Ind-Ra predicts total…

IndustryLatest Stories

Hyderabad’s Property Tax Arrears Exceed ₹3,000 Crore

HYDERABAD: Property tax arrears in the three municipal corporations of Greater Hyderabad have surpassed an alarming ₹3,000 crore, exceeding both the current fiscal’s collections and its target. By the time the ongoing one-time settlement (OTS) scheme—offering a 90% waiver on accumulated interest on arrears—expires on March 31, the total arrears may likely escalate to over ₹5,000 crore. Before the trifurcation of the Greater Hyderabad Municipal Corporation (GHMC), the property tax collection target for this financial year was set at ₹3,000 crore. Thus far, the GHMC, Cyberabad Municipal Corporation (CMC), and Malkajgiri Municipal Corporation (MMC) have collectively managed to gather only…

CommercialLatest Stories

Lucknow: IT City Plot Allotment Lottery on Feb 28

LUCKNOW: The Lucknow Development Authority is set to launch the IT City housing scheme on Sultanpur Road on February 28, starting with the allotment of developed plots to landowners under the land pooling policy. A total of 870 residential plots will be allocated to 336 farmers who contributed land to the project, with allotments conducted via a lottery system. The draw will take place in the presence of the landowners at the Indira Gandhi Prathishthan. The initial phase will offer plots ranging from 35 sq m to 288 sq m. After allotment to land pooling beneficiaries, the remaining plots will…