Mumbai News Desk

5 minutes ago

• A fire that broke out in a residential high-rise in Bandra West resulted in one fatality and injuries to two firefighters.
• The blaze originated on an upper floor of the building, prompting a large-scale emergency response.
• Firefighters carried out rescue and evacuation operations while battling the flames for several hours.
• Authorities have launched an investigation to determine the cause of the incident.
• The tragedy has once again highlighted the importance of fire safety preparedness in Mumbai’s high-rise residential buildings.Read more

35 minutes ago

Mumbai's infrastructure landscape is set for another transformation as MMRDA modifies the design of the Orange Gate twin-tunnel project to reclaim land along Marine Drive and improve traffic capacity in South Mumbai. The revised plan is expected to create additional road space, strengthen east-west connectivity and complement the city's long-term underground mobility strategy. The move comes as tunnelling work on the Orange Gate corridor advances, positioning the project as a key component of Mumbai's future transport network.Read more

1 hour ago

Electric vehicle manufacturer Tesla has opened its first Experience Centre in Hyderabad, marking its fifth customer-facing facility in India. The new centre allows visitors to explore the 2026 Model Y Premium Rear-Wheel Drive and Model Y L through guided product demonstrations and interactive vehicle experiences. Alongside the showroom launch, Tesla has commenced vehicle delivery and after-sales operations from its facility in the Bollaram Industrial Area near Hyderabad. The facility will cater to customers across Telangana and forms part of the company’s expanding direct-to-consumer network in India. With existing Experience Centres in Bengaluru, Mumbai, Delhi and Gurugram, the Hyderabad opening further strengthens Tesla’s physical presence in one of the country’s key technology and automotive markets.Read more

1 hour ago

The Municipal Corporation of Delhi (MCD) recorded its highest-ever annual revenue of INR 14,549.06 crore in FY2025-26, reflecting a 17.27% increase over the previous financial year. The growth was driven by higher collections from property tax, property transfer charges, advertisements, parking operations and leased municipal assets. MCD’s own revenue rose nearly 20% to INR 11,239.24 crore, while grants and revenue support from the Delhi government also increased. The performance comes despite the civic body continuing to carry liabilities exceeding INR 15,000 crore. Property tax and transfer charges remained the largest revenue contributors, while improved taxpayer participation and stronger non-tax income streams supported collections. The figures highlight the growing importance of municipal revenue generation in funding urban infrastructure and civic services across the national capital.Read more

2 hours ago

Following its independent stock market listing, Vedanta Power has outlined plans to diversify beyond thermal power by evaluating opportunities in hydroelectric power, battery energy storage and nuclear energy. The company aims to strengthen its position in India's growing energy sector while expanding generation capacity over the coming years. Alongside its listing on the BSE and NSE, Vedanta Power has set a long-term target of reaching 20 GW capacity and becoming one of India's top three private power producers. The company also plans significant capacity additions through brownfield expansion projects.Read more

Chennai News Desk

2 hours ago

• The Tamil Nadu government has authorised the Chennai Metropolitan Development Authority (CMDA) to independently approve high-rise building proposals in Chennai.
• The decision follows administrative directions to simplify and speed up the planning permission process for multi-storey developments.
• Previously, such approvals required multiple layers of clearance, including from state-level planning bodies, leading to procedural delays.
• The reform is aimed at improving efficiency in urban development governance and enabling faster decision-making for high-rise construction activity in the Chennai metropolitan region.Read more

Ahmedabad News Desk

3 hours ago

Ahmedabad’s residential property market is set for a price increase of 5–10 per cent from 1 July, driven by a sharp rise in construction costs across key input materials. Developers in the city have indicated that escalating prices of steel, cement, and other building components, coupled with global supply disruptions, are compelling a revision in housing rates. Industry stakeholders, including developer bodies, attribute the cost escalation partly to geopolitical tensions affecting supply chains. The revision is expected to impact both ongoing and new residential projects across Ahmedabad.Read more

3 hours ago

The National Stock Exchange (NSE) has filed draft papers with the Securities and Exchange Board of India (SEBI) for its long-awaited initial public offering, which is estimated to raise around INR 30,000 crore through an offer for sale by existing shareholders. The proposed issue, involving the sale of 14.89 crore shares, is expected to become the largest IPO in Indian capital market history, surpassing Hyundai Motor India’s INR 27,870 crore offering. The filing marks a significant step towards the listing of India’s largest stock exchange after nearly a decade of regulatory delays linked to governance concerns and the co-location matter. Major shareholders including State Bank of India, Canada Pension Plan Investment Board and several public-sector insurers will dilute holdings, while Life Insurance Corporation of India will retain its stake.Read more

4 hours ago

• The Bombay High Court has expressed strong displeasure over the BMC's prolonged failure to remove encroachments in Powai.
• The court issued a notice to the municipal commissioner while questioning the civic body's handling of the matter.
• Judges criticised the reasons cited by officials for the delay, describing them as inadequate.
• The case highlights growing judicial scrutiny of delays in addressing illegal constructions and encroachments across Mumbai.Read more

Mumbai News Desk

4 hours ago

The Maharashtra government has appointed Vijay Singhal, Managing Director of the Maharashtra State Road Development Corporation (MSRDC), as Officer on Special Duty (OSD) for the Dharavi Redevelopment Project as part of a wider bureaucratic reshuffle. Singhal will continue to hold his existing role while overseeing one of India’s largest urban renewal initiatives. The appointment comes as the state advances rehabilitation, infrastructure and planning activities linked to the redevelopment of Dharavi in Mumbai.Read more

5 hours ago

Sentiment among U.S. homebuilders declined in June as rising mortgage rates, higher construction material costs and ongoing affordability concerns continued to pressure the housing sector. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index fell below expectations, extending a prolonged period of weak builder confidence. Elevated borrowing costs and costlier materials have reduced demand, prompting more builders to offer price cuts and sales incentives to attract buyers. The latest survey highlights the continued challenges facing the U.S. housing market despite a significant housing supply shortage across the country.Read more

5 hours ago

Indian Railways has approved the installation of Kavach Version 4.0 across 598 route kilometres covering 48 block sections of the Ahmedabad Division of Western Railway in Gujarat, at a sanctioned cost of INR 140 crore. The project, approved under the umbrella programme for Kavach deployment with an LTE-based communication backbone on balance routes, covers the remaining sections of the division not previously brought under the system. With 702 route kilometres already sanctioned earlier, the fresh approval completes Kavach coverage across the entire Ahmedabad Division, furthering Indian Railways' network-wide safety modernisation drive.Read more

6 hours ago

• Tulip Infratech has announced an investment of INR 1,100 crore for the construction of a new luxury residential project in Gurugram.
• The development will be located in Sector 71 and is expected to cater to rising demand for premium housing in the National Capital Region.
• The company plans to fund the project through a combination of internal accruals and customer collections during the construction phase.
• The investment reflects continued confidence among developers in Gurugram's high-end residential market despite evolving economic conditions.Read more

6 hours ago

Himalia Prime Assets, an asset development and management platform backed by private equity firm Jupiter Capital, has acquired the Our Native Village Eco Resort near Bengaluru for INR 25 crore. The transaction includes a 4.65-acre property comprising a 24-key operational resort spread across three acres and an additional 1.65 acres earmarked for future expansion. The company plans to invest at least another INR 25 crore over the next two years to upgrade the property, enhance operational capabilities and increase room inventory to 40 keys. Himalia has also partnered with luxury wellness brand Niraamaya Life to manage the resort’s operations, further expanding its hospitality portfolio, which now comprises three resort assets across southern India.Read more

7 hours ago

An international arbitration tribunal has rejected most of Ukraine’s claims against Russia regarding control of the Kerch Strait, while finding that Moscow breached certain maritime obligations during the construction of the Crimea Bridge. The case, filed by Ukraine after Russia began building the bridge linking mainland Russia with Crimea, was heard by the Permanent Court of Arbitration in The Hague. Although the tribunal ruled that Russia failed to conduct adequate environmental assessments during construction, it dismissed the majority of Kyiv’s claims on procedural grounds. No compensation was awarded, and both countries were directed to bear their own legal expenses.Read more

7 hours ago

Essel Group Chairman Subhash Chandra has sold a nearly three-acre bungalow on Bhagwan Das Road in New Delhi’s Lutyens’ Bungalow Zone (LBZ) for INR 1,260 crore, according to sources familiar with the transaction. The property has been acquired by a Delhi-based business family, though the buyer’s identity has not been disclosed. The transaction, expected to be completed by early December, ranks among the highest-value residential property deals reported in India in recent years. Chandra had acquired the property in 2015 for INR 304 crore, reflecting a more than fourfold increase in value over the past decade. The deal highlights sustained demand for trophy residential assets in Lutyens’ Delhi, one of the country’s most expensive and tightly held real estate markets.Read more

Pune News Desk

8 hours ago

Pune’s public transport network could soon become more seamless as Maha Metro and PMPML explore a unified ticketing system that would allow passengers to travel across Metro and bus services using a single ticket. The proposal is aimed at improving last-mile connectivity, simplifying transfers and encouraging greater use of public transport. Building on existing feeder bus initiatives and integrated mobility efforts, the plan seeks to create a smoother travel experience while strengthening coordination between the city’s key transit networks.Read more

8 hours ago

Navi Mumbai International Airport is expected to begin international passenger and cargo operations from July 15, marking a significant step in the expansion of aviation infrastructure in the Mumbai Metropolitan Region. The airport operator said international freighter services will commence first, with plans to scale up to around 18 weekly cargo flights. International passenger services are also expected to start on the same day, with Air India Express and IndiGo set to operate flights. The airport, which began domestic operations last year, is witnessing steady traffic growth and has also earned global recognition for its design.Read more

9 hours ago

The Bombay High Court on 8 June 2026 revoked a probate granted in 2009 in respect of a residential flat at Bueno Vista, Windy Hall Lane, Colaba, Mumbai, after finding that the existence of a surviving heir had not been disclosed during the original proceedings. Arnold Samson, a Sweden-based son of the deceased Rosalind Samson who passed away in February 2008, successfully established a prima facie case before Justice N.J. Jamadar that he had been denied an opportunity to contest the original probate petition, prompting the court to restore the matter for a fresh determination.Read more

9 hours ago

Knowledge Realty Trust has approved plans to raise up to INR 20 billion through a combination of non-convertible debentures (NCDs) and commercial papers. The fundraising, cleared by the trust through private placement and short-term debt instruments, is aimed at strengthening its financial flexibility and supporting future funding requirements. The move comes as real estate investment platforms increasingly tap debt markets to diversify capital sources, manage liquidity, and support growth plans amid continued demand for high-quality commercial real estate assets across key Indian markets.Read more

10 hours ago

China’s residential property market remained under pressure in May, with new home prices recording a steeper monthly decline as demand continued to stay weak despite signs of stability in some major cities. Data showed that property sales, investment, construction activity and developer financing all weakened further during the first five months of the year. While top-tier cities such as Shanghai, Shenzhen and Guangzhou posted modest price gains and resale housing markets showed some improvement, smaller cities continued to face oversupply challenges and slower inventory absorption, keeping overall market sentiment subdued.Read more

10 hours ago

Lubrizol and Grasim Industries Ltd have inaugurated a Chlorinated Polyvinyl Chloride (CPVC) resin manufacturing facility at Vilayat in Gujarat’s Bharuch district, strengthening domestic production capabilities for a key raw material used in construction and infrastructure applications. The facility was inaugurated by Gujarat Chief Minister Bhupendra Patel in the presence of senior executives from both companies and state officials. CPVC resin is widely used in plumbing systems, water management networks, fire safety infrastructure and industrial piping. The new plant is expected to support rising demand from India’s infrastructure, real estate and building materials sectors, while contributing to local manufacturing capacity for specialised construction materials.Read more

11 hours ago

Dharampal Satyapal Group (DS Group) has increased its planned investment in the hospitality sector to INR 1,500 crore from an earlier target of INR 1,000 crore as the conglomerate expects to achieve its room inventory expansion goals ahead of schedule. The company announced a new luxury hotel project under Marriott International’s W Hotels brand near Indira Gandhi International Airport in Delhi-NCR and is simultaneously exploring brownfield acquisitions and expansion opportunities across North-East India. DS Group aims to double its room inventory from 1,000 to 2,000 keys before 2029, when the group marks its centenary year. The latest expansion strategy reflects the company’s growing focus on hospitality, supported by rising travel demand, limited hotel penetration in India and increasing opportunities across leisure, religious and business travel segments.Read more

11 hours ago

• Every monsoon, Maharashtra's mountains, valleys and forests transform into breathtaking green landscapes dotted with waterfalls and mist.
• Beyond the usual tourist hotspots, the state is home to several underrated destinations that offer peace, adventure and spectacular scenery.
• From flower-filled plateaus and hidden ghats to lakes, forts and cloud-covered viewpoints, each place has its own charm during the rainy season.
• Whether you're planning a road trip, a family holiday or a weekend escape, these destinations deserve a spot on your monsoon bucket list.Read more

12 hours ago

Road King Infrastructure has announced that its proposed acquisition of a target interest in China will not move forward after the asset became subject to enforcement action through a judicial auction process in the People’s Republic of China (PRC). The company said it is taking steps to recover RMB172.5 million that had already been paid to Beijing Xuke in connection with the transaction. The development marks a setback for the planned deal and highlights the legal challenges surrounding the target asset, prompting the group to focus on recovering its funds.Read more

12 hours ago

Infrastructure Investment Trusts (InvITs) distributed INR 22,769 crore to unitholders during FY26, taking cumulative payouts since inception to INR 91,000 crore, according to data released by the Bharat InvITs Association (BIA). The sector also recorded growth in assets under management, which increased from INR 6.3 lakh crore in FY25 to INR 7.1 lakh crore in FY26. Listed InvITs added nearly two lakh new unitholders during the year, resulting in a 64% increase in the investor base. Equity fundraising by InvITs rose to INR 1.97 lakh crore during FY26, while the industry’s gross debt stood at INR 3.35 lakh crore as of March 31, 2026. The figures highlight the growing role of InvITs in infrastructure financing and asset monetisation across India.Read more

13 hours ago

Bouygues Construction has secured a project to develop a new university hospital in Montenegro, marking another addition to its international healthcare infrastructure portfolio. The company announced that the project is expected to move into the implementation phase in 2027, subject to the completion and finalization of the financing plan. The development is expected to strengthen healthcare infrastructure in Montenegro and support the country's long-term medical and educational requirements. Further details regarding the project's size, investment value, and construction timeline have not yet been disclosed.Read more

13 hours ago

Navitas Solar has announced plans to invest around INR 1,500 crore to expand its solar manufacturing operations in Gujarat through an integrated project that will include a 3.6 GW solar cell manufacturing facility and a pilot wafer and ingot production line. The project will be implemented in phases, with the first phase scheduled for commissioning in 2027. Civil construction covering more than 10 lakh sq ft is already underway. The expansion is intended to strengthen the company’s manufacturing capabilities across the solar value chain and support greater backward integration. The project is also expected to create nearly 1,000 jobs. Navitas Solar currently operates an annual solar module manufacturing capacity of 3 GW and is seeking to broaden its presence in India’s renewable energy manufacturing ecosystem.Read more

14 hours ago

The National Capital Region Planning Board (NCRPB) has approved the development of four new greenfield urban centres, to be known as ‘Namo Cities’, under the Regional Plan 2041 framework. One city is expected to be developed in each of the NCR participating states—Delhi, Haryana, Uttar Pradesh and Rajasthan—with the Centre earmarking INR 5,000 crore over five years to support the initiative. The proposal forms part of a broader strategy to promote decentralised urbanisation, reduce pressure on Delhi and create new economic and residential growth centres across the region. The plan is linked to NCR’s long-term development vision, which includes improved regional connectivity, transit-oriented growth and the creation of new urban clusters to accommodate rising population and economic activity through 2041.Read more

Mumbai News Desk

14 hours ago

The Brihanmumbai Municipal Corporation (BMC) has suspended water supply to construction sites and swimming pools across Mumbai as reservoir stocks continue to decline. The decision is part of emergency water management measures aimed at prioritising domestic consumption amid mounting supply stress. The restriction applies to new and ongoing construction activity as well as private and public swimming facilities. The move comes as authorities intensify monitoring of water usage across the city and step up enforcement against non-essential consumption. Officials have also indicated stricter checks on misuse of potable water as demand pressures persist.Read more

15 hours ago

A new research report by Liases Foras has identified Neral, located in the eastern Mumbai Metropolitan Region (MMR), as a potential residential growth market within the Mumbai 3.0 development corridor. The report links the area's prospects to an infrastructure pipeline valued at approximately INR 4.04 lakh crore, including the Navi Mumbai International Airport, Virar–Alibaug Multimodal Corridor, Metro Line 8 and the Panvel–Karjat railway project. According to the study, Neral could witness up to five-fold land value appreciation over the next decade as connectivity improves and economic activity expands across the region. The report also highlights anticipated employment generation from airport-led development, large corporate investment commitments and environmental factors that limit land supply, while citing rental yield opportunities in the premium villa segment.Read more

15 hours ago

The Delhi government has approved a new slum rehabilitation policy aimed at providing permanent housing to nearly four lakh families living across approximately 675 slum clusters in the national capital. The policy seeks to accelerate in-situ redevelopment through public-private partnerships, allowing eligible residents to receive formal housing at or near their existing locations wherever feasible. The framework is designed to address longstanding challenges associated with fragmented land ownership, funding constraints and project viability. Authorities expect the initiative to improve living conditions for a substantial section of Delhi’s urban population while facilitating the redevelopment of underutilised land parcels. The policy also draws upon ongoing discussions around large-scale redevelopment models and forms part of broader efforts to strengthen urban housing infrastructure and rehabilitation mechanisms in the city.Read more

Mumbai News Desk

16 hours ago

• JSW Realty is in discussions to raise approximately USD 169 million (around INR 1,450 crore) from Tata Capital to support a major commercial real estate development in Mumbai.
• The proposed financing is expected to strengthen the company's funding strategy as it expands its footprint in India's premium office and mixed-use property market.
• The move reflects continued lender confidence in high-quality commercial assets in Mumbai, even as developers increasingly rely on structured financing to accelerate project execution.Read more

16 hours ago

Avaada Group expects to increase its renewable energy capacity to 17.7 GW over the next two years as it advances projects currently under construction. The company’s renewable energy portfolio already exceeds 17.7 GWp, comprising more than 7.2 GWp of operational assets and around 10.5 GWp under development. According to the company, power purchase agreements (PPAs) have been secured for the projects under construction, providing the foundation for financing and execution. Avaada’s business interests span renewable power generation, solar photovoltaic manufacturing, green hydrogen, energy storage, pumped storage projects and green data centres. The update was shared during the conclusion of the Avaada Bharat Uday Yatra, a nationwide initiative aimed at promoting public participation in India’s clean energy transition and sustainability goals.Read more

Pune News Desk

17 hours ago

• Pune Police have registered a case against a city-based builder over allegations of cheating more than 150 flat and shop buyers.
• Complainants claim the project remained incomplete despite substantial payments made over several years.
• The alleged fraud amount is estimated at nearly INR 50 crore, raising concerns over homebuyer protection and project delays.
• Buyers have accused the developer of failing to deliver possession while continuing to make assurances regarding project completion.Read more

17 hours ago

China Evergrande’s liquidators have sought a judicial review of a HKD 1 billion (USD 127.67 million) settlement reached between Hong Kong’s Securities and Futures Commission (SFC) and PricewaterhouseCoopers (PwC) Hong Kong over the auditor’s work for the collapsed developer. The liquidators argue that the regulator did not have the legal authority to resolve a market misconduct claim against a non-regulated entity in the manner adopted. They also contend that compensating shareholders through the settlement could reduce funds available for creditors, adding another layer to the ongoing efforts to recover assets from one of China’s largest corporate collapses.Read more

Mumbai News Desk

18 hours ago

The Maharashtra Housing and Area Development Authority (MHADA) has entered into a partnership with the MahaTennis Foundation to develop a world-class tennis facility in Andheri, Mumbai. The project, planned on approximately two acres of MHADA-owned land, aims to strengthen sports infrastructure in the city and promote tennis training and development for emerging players. The initiative, formalised through a memorandum of understanding, is expected to upgrade existing recreational land into a structured sporting hub, supported through public-private collaboration and financial backing for infrastructure development.Read more

18 hours ago

Brookfield, Singapore’s sovereign wealth fund GIC and Canadian institutional investor British Columbia Investment Management Corporation (BCI) have collectively divested a 7.27% unitholding in Altius Telecom Infrastructure Trust (Altius InvIT) through open market transactions worth approximately INR 3,656 crore. The sale involved more than 22.15 crore units and was executed on Tuesday at prices ranging between INR 165 and INR 165.05 per unit. Infrastructure major Larsen & Toubro emerged as a key buyer, acquiring a 1.25% stake for nearly INR 628 crore. The transaction marks a significant secondary market trade in India’s telecom infrastructure investment trust sector. Altius InvIT owns a portfolio of more than 2.57 lakh telecom sites supporting technologies from 2G and 5G to Internet of Things, small cells and emerging AI-driven applications.Read more

19 hours ago

• The Bombay High Court is hearing fresh proceedings related to land reserved for burial grounds in Thane, following allegations of encroachment and non-compliance with earlier judicial directions.
• Petitioners have claimed that portions of land earmarked for Christian burial grounds continue to face unauthorised occupation despite previous court orders protecting the reservation.
• A contempt plea has also been filed against civic authorities, alleging failure to implement directions concerning the disputed land.
• The case has renewed focus on the protection of reserved public utility lands and the responsibilities of local authorities in enforcing planning regulations.Read more

Indore News Desk

19 hours ago

Indore Metro is likely to commence operations on its expanded 17-km priority corridor on June 21, subject to final state government approval. The extension adds an 11-km stretch between Super Corridor and Radisson Square, nearly tripling the operational network from 6 km. The route will connect major residential, commercial and transport hubs, including Vijay Nagar, ISBT and MR-10. The corridor has received safety clearance from the Commissioner of Metro Rail Safety, paving the way for wider metro connectivity across the city.Read more

20 hours ago

Bajaj Finance has accepted bids worth INR 1,390 crore through the reissue of its September 2028 bonds, according to market participants. The non-banking financial company offered a yield of 7.80% on the issue and conducted the fundraising through a commitment bidding process on June 17. The bonds carry a remaining maturity of approximately two years and three months and have been assigned a AAA rating by Crisil. The fundraising reflects continued access to debt capital markets by highly rated non-banking financial companies amid steady investor demand for high-grade corporate debt instruments.Read more

Kochi News Desk

20 hours ago

Cochin International Airport Ltd (CIAL) is considering a compensation mechanism for homeowners whose properties have reportedly been damaged by low-flying aircraft approaching Kochi airport. The move follows recent incidents in areas along flight paths, including a case in which a house sustained roof damage and its owner was injured. Airport authorities are examining the possibility of providing assistance through CSR funds while reviewing complaints from affected residents, bringing renewed focus to the impact of airport operations on neighbouring communities.Read more

Mumbai News Desk

21 hours ago

The Dharavi Redevelopment Project (DRP) has introduced digital twin technology to support resident verification and eligibility assessments under the Mumbai redevelopment programme. The system creates a virtual model of Dharavi’s built environment, enabling authorities to map structures, verify occupancy records and cross-check resident information more accurately. Officials said the technology is intended to improve transparency, reduce discrepancies and streamline the rehabilitation process. The initiative forms part of ongoing surveys and eligibility verification exercises across Dharavi.Read more

22 hours ago

The Supreme Court has cleared the way for the Brihanmumbai Municipal Corporation (BMC) to consider Reliance Industries’ master plan for the 130-acre public open space created under Mumbai’s Coastal Road South project. The court recorded Reliance’s undertaking that ticketed attractions would be limited to 15% of the reclaimed land, while 85% would remain freely accessible. The waterfront is planned to include promenades, parks, gardens, cycle tracks and recreational spaces, with commercial and residential development remaining prohibited.Read more

Mumbai News Desk

23 hours ago

Mumbai’s water reserves have fallen to 10.7% of total storage capacity, prompting the Brihanmumbai Municipal Corporation (BMC) to review whether stricter water conservation measures are needed. The assessment comes after a 10% water supply cut was imposed across Mumbai and neighbouring areas due to declining reservoir levels. With the city dependent on seven lakes for drinking water, officials are evaluating current stocks, consumption trends and contingency measures to ensure adequate supply until monsoon inflows improve reservoir levels.Read more

18 Jun 2026

Mumbai has imposed fresh water conservation measures after reservoir storage levels dropped to 10.35% of total capacity following the city's driest June in more than a decade. The Brihanmumbai Municipal Corporation (BMC) has temporarily disconnected water supply to construction sites and suspended new water connections for such projects from June 17. Water supply to industrial and commercial establishments, as well as sports clubs, has also been reduced by 20%, adding to an earlier 10% cut implemented in May. The restrictions come as Maharashtra recorded rainfall approximately 75% below normal during the first half of June. With the city's seven reservoirs holding enough water for only around 40 days, concerns have emerged over long-term water security and the impact of delayed monsoon rains on urban infrastructure and development activity.Read more

18 Jun 2026

Siemens Ltd has secured a supply order from Titagarh Rail Systems to provide advanced propulsion systems and Train Control and Monitoring Systems (TCMS) for the Pune Metro Rail project extension. The contract covers the design, manufacture, supply and warranty of traction converters, auxiliary converters, traction motors and TCMS for 12 trainsets. While the financial value of the order was not disclosed, the collaboration is expected to support localisation and strengthen India's urban mobility manufacturing ecosystem.Read more

18 Jun 2026

• HomeLane is planning an IPO within the next 12 to 24 months as it focuses on profitability, expansion and growth in India's organised home interiors market.
• The company aims to use IPO proceeds to enter new cities and expand into categories such as kitchen appliances and soft furnishings.
• HomeLane reported a 22% rise in FY25 revenue to INR 7.56 billion, while its net loss narrowed to INR 1.11 billion.
• The company is targeting revenue of around INR 10 billion this fiscal and nearly INR 30 billion by FY31.
• Growing demand for home interiors, urbanisation and technology adoption are creating opportunities for organised interior design companies across India.Read more

18 Jun 2026

The Municipal Corporation of Delhi (MCD) has intensified enforcement action against unauthorised constructions across the capital, demolishing 217 properties and sealing 237 establishments since the beginning of June. The crackdown follows the fatal Malviya Nagar hotel fire that triggered heightened scrutiny of building safety, land-use violations and unauthorised development. During the same period, authorities issued 330 show-cause notices for illegal construction, 151 sealing notices and 91 demolition orders. Parallel inspections conducted by the Revenue Department covered 773 properties across Delhi between June 5 and June 15. The drive spans residential, commercial and mixed-use properties, with authorities examining compliance with building regulations, fire safety requirements and land-use norms. Officials have indicated that enforcement measures will continue across all districts as part of a wider effort to curb unauthorised construction and improve public safety.Read more

18 Jun 2026

Harmony Infra Ventures will invest around INR 800 crore to develop a luxury residential project, The Horizon Residences, in Indirapuram, Ghaziabad. The company has acquired a 100% stake in the land-owning entity for the development, which will comprise 264 premium apartments. Homes are being offered at around INR 15,000 per sq ft, with apartment prices ranging from INR 6 crore to INR 7.5 crore. The project is scheduled for completion in 2030 and is expected to generate revenue of approximately INR 1,600 crore. Around 100 units have already been sold. The launch comes amid continued demand for residential properties in Delhi-NCR, where housing sales rose 11% year-on-year during the January-March quarter, according to PropTiger.Read more