20 minutes ago

Prestige Estates Projects is preparing to launch two residential developments in Delhi-NCR during FY27, with an estimated revenue potential of INR 6,800 crore. The Bengaluru-based developer plans to introduce one project each in Noida and Gurugram, adding nearly 8 million sq ft of developable area to its portfolio in the region. The planned launches follow the strong performance of Prestige City Indirapuram, the company’s first housing project in NCR, which generated more than INR 9,500 crore in pre-sales within its first year. The developer recorded around INR 10,000 crore in sales bookings from the NCR market during FY26 and remains optimistic about demand in the region. Across India, Prestige has a launch pipeline valued at approximately INR 58,000 crore for the current fiscal year, subject to regulatory approvals.Read more

50 minutes ago

PPHE Hotel Group has said that a potential takeover approach from Fattal Hotel Group can no longer move forward after its largest shareholder, Euro Plaza Holdings, opposed the proposal. The development effectively blocks the possibility of a deal, given Euro Plaza’s significant influence in the company. PPHE, which owns and operates hotels across Europe under brands including Park Plaza and art’otel, indicated that the indicative approach was no longer deliverable. The announcement brings uncertainty to any near-term acquisition plans involving the hospitality real estate company.Read more

1 hour ago

The Union government has approved the Angamaly–Aroor bypass project in Kerala, a major highway initiative aimed at reducing congestion on the heavily used NH-544 and NH-66 corridors around Kochi. The greenfield bypass, expected to span about 50 km following its extension to Aroor, will provide a direct route for long-distance traffic travelling between northern and southern Kerala without entering the city’s congested urban stretches. The project will connect Angamaly with the under-construction Aroor–Thuravoor elevated highway and is being aligned with the PM Gati Shakti National Master Plan. The approval marks a significant step in advancing a long-pending infrastructure proposal intended to improve regional connectivity, streamline freight movement and support future traffic growth across central Kerala.Read more

Priyanka Vig

1 hour ago

India's hospitality industry is far larger than a single market-size figure suggests. Depending on the scope of measurement, estimates range from USD 24 billion for the organised hotel sector to over USD 281 billion for the broader hospitality ecosystem. This article explores how the industry is structured, where growth is coming from, and why investors remain optimistic about its future. From branded hotels and booking channels to revenue models and development pipelines, the sector reflects a market that is expanding rapidly while still remaining significantly underpenetrated compared to global benchmarks.Read more

2 hours ago

• The BMC has instructed engineers to repair potholes within 24 hours of receiving complaints during the monsoon season.
• Round-the-clock monitoring and faster response mechanisms have been put in place to minimise disruptions to traffic and public safety.
• Officials have been asked to identify vulnerable road stretches and carry out preventive maintenance to avoid severe damage.
• The move comes as Mumbai braces for increased rainfall and the annual challenge of deteriorating road conditions.Read more

2 hours ago

The wealth division of Morningstar has entered into a partnership with major asset managers including Apollo Global Management, Franklin Templeton, and J.P. Morgan Asset Management to create investment portfolios that combine exposure to both public and private markets for retail investors. The strategy aims to widen access to private credit and real estate through interval funds. The launch is planned for later this year, with allocations in private assets expected to form a smaller but structured portion of diversified models.Read more

Lucknow News Desk

3 hours ago

• A major fire broke out in a three-storey commercial building in the Aliganj area of Lucknow, Uttar Pradesh, resulting in at least 15 deaths and several injuries.
• Most of the victims were students and trainees associated with an animation and coaching centre operating inside the premises.
• The blaze is believed to have originated in the building and spread rapidly, trapping occupants inside and triggering panic evacuation attempts.
• Preliminary accounts suggest issues related to building usage and fire safety compliance may become part of the investigation into the incident.Read more

Mumbai News Desk

3 hours ago

The Mira-Bhayander flyover, which became the subject of public debate earlier this year over its four-lane-to-two-lane configuration, has now been opened to traffic after months of delay. The flyover, part of the Metro Line 9 double-decker corridor, was inaugurated by local political representatives and made operational for motorists. While concerns had earlier been raised about potential traffic bottlenecks and commuter safety, the Mumbai Metropolitan Region Development Authority (MMRDA) has maintained that the design follows approved plans and is linked to existing land constraints, with provisions for future expansion once additional land becomes available.Read more

4 hours ago

GeeCee Ventures Ltd has made an investment of INR 9.9 million in GMR Power and Urban Infra, according to a company disclosure. The investment reflects the company's continued deployment of capital into listed businesses as part of its broader investment strategy. GeeCee Ventures, which has interests across real estate, financial investments and related sectors, regularly manages a portfolio of equity investments alongside its core operations. The latest investment in GMR Power and Urban Infra adds to its investment holdings and comes at a time when infrastructure and urban development-linked companies continue to attract investor attention.Read more

4 hours ago

A total of 322 beneficiaries in Jamshedpur have received keys to newly constructed homes under the Pradhan Mantri Awas Yojana (Urban) as part of the Birsanagar Affordable Housing Project. The handover took place in the past week, with Jharkhand’s Urban Development and Housing Department overseeing the initiative. The project comprises 644 housing units developed across two residential blocks, with the first batch of allottees taking possession of their homes. The scheme is aimed at providing formal housing to economically weaker sections and low-income households in the city. The development forms part of the Centre’s PMAY (Urban) programme, which seeks to expand affordable housing availability through government-supported residential projects across urban India.Read more

4 hours ago

India offers a wide range of landscapes and cultural settings that resemble popular global destinations. From snow-covered mountains and colonial streets to beaches, hills, and valleys, many locations across the country provide travel experiences similar to places like Switzerland, France, New Zealand, and the Maldives. These destinations combine familiar international-style scenery with their own local identity, making them attractive options for domestic travel.Read more

5 hours ago

Swedish real estate company Logistea has expanded its logistics portfolio with the acquisition of an airside logistics property in Turku, Finland. The asset has an underlying property value of SEK 114 million and generates annual rental income of approximately SEK 10.6 million. Global logistics companies FedEx and DHL account for around 90% of the property's rental income, providing a strong tenant base. The acquisition aligns with Logistea's strategy of strengthening its presence in the Nordic logistics real estate market through assets backed by long-term demand from major logistics and distribution operators.Read more

5 hours ago

The Amaravati Development Corporation (ADC) has commenced the development of a Central Nursery spread across 18 acres in Amaravati to support large-scale roadside plantation across the capital city. Located at the junction of the N-10 Seed Access Road (E-03) between Lingayapalem and Uddhandarayunipale villages, the nursery will serve as the primary stock point for saplings required for avenue plantation along nearly 700 km of roads. The project aims to improve greenery, provide shade, and enhance the urban environment as infrastructure development progresses across the capital region.Read more

5 hours ago

Mahindra Lifespace Developers has acquired a 15-acre land parcel in Kandivali East, Mumbai, through a competitive bidding process to develop a residential project with an estimated revenue potential of INR 5,600 crore. The proposed development is expected to have a total development potential of around 1.8 million sq ft. While the company did not disclose the acquisition cost, the transaction marks another addition to its Mumbai development pipeline. The acquisition aligns with Mahindra Lifespaces' strategy of expanding its residential portfolio across key urban markets. The company currently has a development footprint of 53.65 million sq ft across completed, ongoing and upcoming residential projects in seven cities and manages more than 5,000 acres of integrated developments and industrial clusters.Read more

Goa News Desk

6 hours ago

• The Goa government is set to introduce the ‘Mhajo Flat’ scheme within the next 15 days to help apartment owners secure legal rights over their properties and common areas.
• The initiative is aimed at resolving long-pending issues arising from incomplete conveyance of land and buildings by developers to housing societies.
• The scheme is expected to benefit thousands of flat owners facing difficulties in establishing ownership of shared spaces and underlying land parcels.
• The move forms part of the state's wider efforts to streamline housing-related matters and provide greater legal clarity to residential property owners.Read more

6 hours ago

Saudi Aramco is evaluating the sale of stakes in several infrastructure assets as part of a broader effort to raise substantial capital and support Saudi Arabia’s economic diversification plans. Among the assets under review are sulphur storage and export facilities, oil export terminals, real estate holdings, water infrastructure and power assets. Sources indicated that the potential fundraising pipeline could be worth around USD 50 billion. The move comes as Aramco continues to seek operational efficiencies, lower costs and attract external investment while advancing major projects such as the USD 100 billion Jafurah gas development.Read more

7 hours ago

• The Adani Group has expressed interest in participating in multiple infrastructure projects in West Bengal, including a proposed tunnel beneath the Hooghly River.
• The group is also evaluating opportunities in power transmission, distribution and other infrastructure sectors in the state.
• The discussions emerged during recent engagements between state government officials and Adani Group representatives.
• The potential investments form part of West Bengal’s efforts to attract private sector participation in large-scale infrastructure development.Read more

7 hours ago

Apac Realty Ltd has informed investors that the lawsuit filed against its subsidiary, ERA Realty Network Pte. Ltd., has been withdrawn by the claimants. The company stated that the legal action has been discontinued, bringing the matter to a close. While limited details regarding the nature of the dispute were disclosed, the update removes an ongoing legal overhang for the real estate services group. Apac Realty, which operates one of Singapore’s largest real estate agency networks through ERA, continues to focus on its core brokerage and property-related businesses.Read more

8 hours ago

• Bharat Buildcon 2026 was inaugurated at Yashobhoomi Convention Centre, New Delhi, bringing together stakeholders from the construction and building materials sectors.
• The event attracted over 25,000 visitors on its opening day, facilitating industry networking and business engagement.
• Participants from more than 90 countries and 100 Indian cities are showcasing products and innovations across multiple construction-related segments.
• Government and industry leaders highlighted the importance of trade, manufacturing and quality-driven growth in strengthening the sector.Read more

8 hours ago

Embassy Office Parks REIT is set to raise INR 7 billion through the issuance of three-year bonds, according to bankers involved in the transaction. The real estate investment trust has fixed the coupon at 7.49%, payable quarterly, and has invited commitment bids for the proposed issue on June 22. The bonds have been assigned AAA ratings by CRISIL and CARE Ratings, reflecting the highest level of credit quality. The planned fundraising comes amid continued activity in India’s corporate debt market, where issuers across real estate, infrastructure, renewable energy and utilities sectors are tapping institutional investors for capital. Other borrowers preparing bond issuances in the coming days include IREDA and Torrent Power.Read more

9 hours ago

More than 100 acres of land were voluntarily offered by farmers from four villages for the development of Amaravati under the land pooling scheme. Farmers from Thullur, Rayapudi, Lingayapalem and Velagapudi submitted consent documents to the Andhra Pradesh Capital Region Development Authority (APCRDA), expressing support for the capital city's development. The landowners said they were pleased to contribute to the project and encouraged other farmers in capital region villages to participate in the pooling process. The latest contribution adds to the ongoing land aggregation efforts aimed at advancing infrastructure and urban development in Amaravati.Read more

9 hours ago

• HUDCO has signed a Memorandum of Understanding with the Gujarat government to explore infrastructure financing opportunities worth up to INR 1 lakh crore over the coming years.
• The partnership will support projects across urban development, housing, water supply, transport networks and other public infrastructure sectors.
• The agreement aims to strengthen access to long-term funding for large-scale development initiatives across the state.
• The collaboration reflects Gujarat's continued focus on infrastructure-led growth while expanding the role of institutional finance in project execution.Read more

Chennai News Desk

10 hours ago

• The Tamil Nadu government has revoked the environmental clearance granted to a proposed INR 2,000 crore residential project by Brigade Group near the Pallikaranai marshland in Chennai.
• The decision follows concerns raised over the project’s proximity to the ecologically sensitive wetland and alleged deficiencies in the environmental appraisal process.
• The development, planned on a large land parcel in Pallikaranai, had received environmental approval before facing legal and regulatory scrutiny.
• The revocation is expected to halt project progress until fresh regulatory approvals and environmental assessments are undertaken.Read more

10 hours ago

Signature Global is looking to expand its presence in the branded luxury housing segment in Gurugram amid sustained demand for premium residences. The company is in discussions with several lifestyle and hospitality brands for potential partnerships following its recent collaboration with Italian lifestyle brand Tonino Lamborghini. The developer is also pursuing land acquisitions across Delhi-NCR to support future residential launches. Despite a moderation in housing demand from the peak levels witnessed between 2022 and 2024, the company remains confident of achieving its FY27 sales bookings target of INR 10,000 crore. Signature Global has also earmarked significant investments towards construction and land acquisition as it seeks to strengthen its project pipeline in the National Capital Region.Read more

11 hours ago

• The Centre has set a target of a 69% increase in rural road construction in FY27, aiming to significantly scale up connectivity under national infrastructure programmes.
• Over 26,000 km of rural roads are planned for construction in FY 2026–27, with the Ministry of Rural Development reviewing progress with states.
• The push is aligned with ongoing efforts to strengthen last-mile connectivity under flagship rural development schemes.
• The programme will be implemented in coordination with states to address gaps in rural accessibility and improve socio-economic linkages.Read more

11 hours ago

The Bihar government has directed authorities to expedite the resolution of pending cases before the Bihar Real Estate Regulatory Authority (RERA) and strengthen transparency across the real estate sector. During a review meeting with officials and stakeholders, Housing Minister Jibesh Kumar emphasised the need for quicker grievance redressal, stricter compliance by developers and improved protection for homebuyers. The government also stressed the importance of ensuring timely project delivery and greater accountability within the state's rapidly growing real estate market.Read more

12 hours ago

Germany's housing market showed further signs of improvement as apartment building permits increased by 9.2% in April compared with the same period last year. According to official data, permits for 20,200 apartments were approved during the month, marking an increase of 1,700 units year-on-year. The rise continues a trend of improving permit activity seen in recent months and points to a gradual recovery in future construction activity. However, industry representatives cautioned that the sector remains under pressure, noting that permit levels are still low compared to historical standards despite the recent gains.Read more

12 hours ago

• NHAI has introduced a predictive asset management framework to improve National Highway maintenance through technology-driven monitoring.
• Advanced tools such as survey vehicles, drones, AI-powered dashcams and pavement testing systems will be used to detect defects at an early stage.
• Data from various monitoring platforms will be integrated into a centralised system for real-time assessment of highway conditions.
• The initiative aims to enable timely repairs, improve road quality, extend asset life and enhance commuter experience.Read more

13 hours ago

Terreno Realty Corporation has expanded its industrial real estate portfolio with the acquisition of a property in Hialeah Gardens, Florida, for USD 56.3 million. The transaction reflects continued investor interest in well-located industrial assets across key logistics markets in the United States. South Florida has remained an important distribution and warehousing hub due to its connectivity to ports, airports and major transportation networks. The acquisition aligns with Terreno Realty's strategy of investing in industrial properties located in high-demand coastal markets that support long-term tenant demand and occupancy growth.Read more

13 hours ago

Spain’s housing market continued to record strong growth during the past year, with home prices, property sales and mortgage lending all moving higher. However, the Bank of Spain has stated that current market conditions do not pose the kind of financial stability risks seen during the country’s previous property boom. While housing demand remains robust, the country continues to face affordability challenges, a shortage of new homes and declining access to homeownership for younger residents. Policymakers have been urged to work together to expand housing supply and address an estimated deficit of 750,000 homes across the country.Read more

14 hours ago

• Jammu and Kashmir has planned an INR 3,500 crore road infrastructure upgrade focused on the Amarnath Yatra route.
• Around 60 km of key road stretches are being taken up for detailed project reports to improve connectivity and safety.
• The initiative is part of a wider regional infrastructure push covering highways, tunnels, ring roads, and ropeways.
• The project aims to reduce travel bottlenecks and improve pilgrim movement during the annual Yatra.
• Execution will be phased after approvals and finalisation of project reports.Read more

14 hours ago

• RBI infused INR 72,300 crore into the banking system through two Variable Rate Repo (VRR) auctions to ensure adequate liquidity and support smooth functioning of money markets.
• The liquidity support comes amid evolving funding requirements within the banking sector, helping lenders access short-term funds without any change in the central bank's policy stance.
• The move highlights RBI's continued reliance on targeted market operations to manage liquidity conditions while maintaining stability in interest rates and financial markets.Read more

15 hours ago

• Union Railway Minister Ashwini Vaishnaw virtually flagged off a new express train between Bengaluru and Mumbai on 17 May 2026, calling it a major step in strengthening connectivity between Karnataka and Maharashtra.
• The minister announced that a Vande Bharat Sleeper service on the same route is expected to commence soon.
• He highlighted 61 stations being redeveloped under the Amrit Bharat Station Scheme at INR 2,160 crore, progress on the Bengaluru Suburban Railway Project, and approved bullet train corridors linking Bengaluru with Hyderabad and Chennai.
• Union Minister of State V. Somanna detailed capacity augmentation works, signalling upgrades worth INR 6,396 crore, and a record railway budget allocation of INR 7,748 crore for Karnataka.Read more

15 hours ago

• A proposed government auction of a five-acre land parcel in Raidurg, Hyderabad, has come under legal scrutiny after the State Bank of India (SBI) claimed ownership rights over the property.
• SBI has approached the Telangana High Court challenging the state's decision to include the land in a public auction programme.
• The bank contends that the parcel was allotted to it decades ago and remains under its ownership, while the state government maintains that the land reverted to government control after allotment conditions were not fulfilled.
• The High Court has granted interim relief, temporarily halting the auction process pending further hearings.Read more

16 hours ago

• A consumer court has directed Indian Railways to pay INR 10,000 in compensation after a passenger was refunded INR 5 less than the amount due on a cancelled ticket.
• The dispute escalated when the passenger repeatedly sought clarification and reimbursement but did not receive a satisfactory resolution.
• The court held that the failure to address the grievance properly amounted to a deficiency in service.
• The ruling highlights the importance of transparency, accountability and timely grievance redressal in public service delivery, regardless of the monetary value involved.Read more

16 hours ago

The chief engineer of the cargo vessel Dali has entered into a deferred prosecution agreement with U.S. authorities in connection with the collapse of Baltimore’s Francis Scott Key Bridge in 2024. The engineer admitted that he failed to report a hazardous condition involving the vessel’s fuel supply system to the U.S. Coast Guard. The agreement comes as legal proceedings continue against the ship’s operators and technical superintendent. The bridge collapse resulted in six deaths, caused billions of dollars in damage, and remains the subject of multiple civil and criminal investigations.Read more

22 Jun 2026

Saudi Arabia has moved the troubled Sindalah island resort project to Red Sea Global as authorities seek to revive one of the most closely watched developments under the Vision 2030 programme. The luxury island, originally developed as part of NEOM, has yet to open to the public despite a high-profile launch event held in 2024. Industry sources cited construction quality issues, operational challenges and environmental factors as key setbacks. Red Sea Global CEO John Pagano said the company will assess the project and determine the steps needed to complete and restart operations while continuing its own tourism expansion plans along the Red Sea coast.Read more

22 Jun 2026

Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu has urged the Centre to increase the royalty of free electricity received from hydropower projects operated by central public sector enterprises, arguing that the current 12 per cent entitlement does not adequately reflect the state’s contribution and environmental costs. During a meeting with Union Power Minister Manohar Lal Khattar in New Delhi, Sukhu also sought the settlement of long-pending energy arrears linked to Bhakra Beas Management Board projects, estimated at 13,066 million units or around INR 7,784 crore. In addition, the state requested central financial assistance for urban infrastructure initiatives, including the proposed HimChandigarh and Aero City projects in Kangra, AMRUT-related schemes, sanitation programmes and a QR-based digital property identification system across urban local bodies.Read more

22 Jun 2026

The Centre is preparing a scheme to provide financial assistance to contractors that create temporary accommodation for construction workers at project sites, Union Housing and Urban Affairs Minister Manohar Lal Khattar announced on June 18. The proposed support will be funded through labour cess collected by state governments and is aimed at improving worker welfare across the construction sector. The minister also indicated that the government is considering making durability certificates mandatory for buildings to enhance quality standards and accountability. Speaking at the Bharat Buildcon exhibition in New Delhi, Khattar urged developers to accelerate project execution using modern construction technologies, focus on sustainability and quality, and cater to housing demand across all income categories. He also highlighted the government's infrastructure investments and urban development initiatives.Read more

22 Jun 2026

• The Karnataka High Court has upheld the state's Premium Floor Area Ratio (FAR) framework, dismissing challenges that questioned its constitutional validity.
• The court ruled that the policy cannot be equated with the controversial Akrama-Sakrama regularisation scheme, which dealt with unauthorised constructions.
• Judges observed that the Premium FAR mechanism allows additional development rights through a statutory process and payment of prescribed charges before construction.
• The decision provides legal backing to a planning tool widely used in Bengaluru and other urban areas to optimise land use and support infrastructure-led growth.Read more

22 Jun 2026

RMZ is planning a major expansion of its data centre business, targeting 2–3 gigawatts (GW) of capacity over the next five years as part of its USD 35 billion investment programme. The company is currently in advanced discussions for three new projects that could take its capacity beyond 1 GW. Alongside developing data centres and AI infrastructure, RMZ is also looking at opportunities in power infrastructure, GPUs and software. The move comes as India continues to attract significant investments into data centres, cloud computing and artificial intelligence infrastructure.Read more

22 Jun 2026

• The Brihanmumbai Municipal Corporation (BMC) and the Customs Department have signed an MoU to undertake the restoration and conservation of Mahim Fort.
• The initiative aims to preserve one of Mumbai’s important coastal heritage structures while improving public access and visitor infrastructure.
• Restoration activities will focus on structural conservation, environmental improvement and protection of the fort’s historical character.
• The collaboration reflects a broader push towards safeguarding Mumbai’s neglected heritage assets through coordinated institutional efforts.Read more

22 Jun 2026

Amazon has announced that its operations in India have become water positive, meaning the company now replenishes more water to local communities than it consumes across its facilities, including data centres, offices and warehouses. The milestone was achieved this year, a year ahead of the company's target, through water conservation measures and community-focused replenishment projects. The announcement comes as global technology firms face increasing scrutiny over the environmental impact of data centres, particularly their water and energy consumption. The development is significant in India, where water stress remains a major concern and large-scale investments in data centres and artificial intelligence infrastructure continue to accelerate. Amazon has committed substantial investments in India, including major expansion plans through Amazon Web Services in Maharashtra.Read more

22 Jun 2026

The Bihar government is preparing to revise circle rates for land and flats across the state from the new financial year, with the Minimum Value Register potentially rising to three or four times current levels in several areas. The proposal, drawn up by the Department of Prohibition, Excise, and Registration based on district valuation committee recommendations, aims to correct a long-standing gap between official rates and actual market prices. Patna, Gaya, Muzaffarpur, and Bhagalpur are expected to see the sharpest increases, with the move set to push up stamp duty and registration costs for property buyers across urban Bihar.Read more

22 Jun 2026

Retail sales in the UK recorded stronger-than-expected growth in May, reflecting resilient consumer spending despite ongoing economic uncertainties. Official data showed sales volumes rose 1.2% from the previous month, exceeding market expectations. On an annual basis, sales were also significantly higher than anticipated. The figures come at a time when consumer confidence remains mixed, with younger consumers expressing greater concern about the economy and personal finances. Retailers continue to monitor the impact of geopolitical tensions and cost pressures, although favourable weather conditions have been identified as a potential support for sales activity.Read more

22 Jun 2026

India Infradebt Limited is set to raise up to INR 15 billion through a bond issuance with a tenure of five years and six months, according to bankers involved in the transaction. The fundraising includes a base issue of INR 5 billion and a greenshoe option of INR 10 billion. The bonds will carry a coupon rate of 7.92%, with commitment bids scheduled for June 22. The issue has received AAA ratings from ICRA and CRISIL, indicating the highest level of creditworthiness. The proposed borrowing comes amid an active primary debt market, with several issuers, including Embassy Office Parks REIT, IREDA and Torrent Power, also planning bond sales in the coming days to raise funds from institutional investors.Read more

22 Jun 2026

Roadside Real Estate Plc has announced the acquisition of the Ross Road Petrol Filling Station in Gloucester as part of its ongoing strategy to expand its roadside real estate portfolio. The transaction is valued at GBP 2.9 million and adds another operational roadside asset to the company's holdings. Roadside Real Estate focuses on acquiring and managing properties that benefit from vehicle traffic and essential roadside services. The latest purchase reflects continued activity in the roadside property segment, where fuel stations and convenience-led assets remain important components of investment portfolios.Read more

22 Jun 2026

• Delhi government has approved a INR 400 crore smart streetlight modernisation project.
• Around 96,000 conventional streetlights will be replaced with smart LED systems.
• The project will be implemented under the Public Works Department (PWD) across nearly 1,400 km of roads.
• An EMI-based payment model will be used, where contractors are paid monthly based on performance.
• The system is expected to improve energy efficiency, reduce faults, and enable real-time monitoring of streetlight operations.Read more

Mumbai News Desk

22 Jun 2026

The Brihanmumbai Municipal Corporation (BMC) has approved INR 1,000 crore financial assistance for the Brihanmumbai Electric Supply and Transport Undertaking (BEST), providing crucial support to the cash-strapped public transport operator in Mumbai. The decision follows months of deliberation within the civic administration, during which the grant was initially debated, partially deferred, and later reconsidered due to operational and safety concerns linked to BEST’s financial position. While BEST had sought a significantly higher support package of around INR 4,000 crore to stabilise operations and meet rising liabilities, the civic body has opted for a reduced allocation tied to governance and structural reform expectations.Read more

22 Jun 2026

HDFC Property Fund and HDFC Capital Advisors have settled proceedings initiated by the Securities and Exchange Board of India (Sebi) over delays in winding up two real estate-focused venture capital fund schemes by jointly paying INR 26 lakh. The case relates to alleged non-compliance with Sebi's Venture Capital Funds Regulations concerning the liquidation of assets and distribution of proceeds under the HDFC India Real Estate Fund (HIREF) and HDFC IT Corridor Fund (HITCF). Sebi noted that both schemes exceeded prescribed timelines for winding up, with HIREF taking nearly seven years beyond its extended tenure to complete liquidation. The settlement, reached without admission or denial of findings, closes potential enforcement proceedings against the entities while highlighting regulatory expectations around timely closure of investment vehicles and distribution of investor funds.Read more