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Invesco Sells Oberoi Realty, Lodha Shares for ₹3,202 Cr

Representative image created by AI NEW DELHI: Investment management firm Invesco has sold over 2 crore shares of real estate companies Oberoi Realty and Lodha Developers for a total of ₹3,202 crore through open market transactions. The US-based firm, via its affiliate Invesco Developing Markets Fund, divested a little over 1 crore equity shares—2.95% of its stake in Oberoi Realty, according to bulk deal data from the BSE. Shares were sold at ₹1,754.26 each, totaling roughly ₹1,883.21 crore. As of the June quarter, Invesco Developing Markets Fund held a 3.01% stake in Oberoi Realty. In a separate transaction on the…

Pune allocates ₹954 crore for merged village development

PUNE: The Pune Municipal Corporation (PMC) has proposed an allocation of approximately Rs 954 crore for the newly merged areas in its draft budget for 2026-27. This will be the first municipal budget since the recent elections of corporators from these regions, responding to urgent calls from residents and representatives to enhance infrastructure development. The budget, crafted by PMC Commissioner Naval Kishore Ram, is heavily reliant on expected revenue from building permissions and property taxes in these suburban areas. “We anticipate a significant revenue boost from building permits as development accelerates in these regions. Additionally, the PMC is expecting funding…

DTCP Sends Notice to Mayfield Garden RWA for Alleged Encroachment

GURUGRAM: The Department of Town and Country Planning (DTCP) has served a show-cause notice to the RWA of Mayfield Garden’s N Block along with a private entity regarding alleged encroachment on a 1.25-acre site designated for a public dispensary in Sector 51. Officials reported that unauthorized constructions, including shops, houses, and labor hutments—collectively referred to as Kamla Market—were found on land that is reserved under the approved layout plan for the licensed colony. As stated in the notice issued under Section 10(2) of the Act, the land, developed under various licenses between 1994 and 2009, has been illegally encroached upon,…