26 minutes ago

Signature Global reported a substantial increase in consolidated net profit for the quarter ended March 2026, primarily supported by an exceptional gain arising from investment in a joint venture. The company posted a net profit of INR 1,152.40 crore during the quarter, compared to INR 61.12 crore in the corresponding period last year. Total income for the quarter also more than doubled to INR 1,195.22 crore. During FY26, Signature Global recorded consolidated net profit of INR 1,094.64 crore against INR 101.2 crore in the previous financial year, while annual income rose to INR 2,778.85 crore. The company disclosed an exceptional gain of INR 1,267 crore during the March quarter, which significantly contributed to the improved profitability.Read more

56 minutes ago

• Vistry Group has warned of lower annual profit and plans to slow house-building activity amid rising construction costs, weaker housing demand and economic uncertainty in the UK market.
• The company has paused share buybacks, tightened land acquisition plans and increased customer incentives to improve cash flow and reduce debt pressure.
• Despite reporting a 32% rise in year-to-date sales supported by incentives, Vistry said demand softened in recent months while material and labour costs continued to increase due to geopolitical tensions and inflationary pressure.
• The slowdown reflects wider challenges across the UK housing sector, with developers such as Berkeley Group, Barratt Redrow and Taylor Wimpey also reducing land approvals and expansion activity.Read more

1 hour ago

The Karnataka government has launched the ‘Bhoo Guarantee – Nanna Khata, Nanna Hakku’ programme aimed at digitising and regularising nearly 23 lakh properties across Bengaluru. The initiative includes a 100-day one-time settlement window allowing around seven lakh B-Khata property owners to convert their holdings into A-Khata status by paying 2% of the guidance value instead of the existing 5% fee. The programme, announced by Deputy Chief Minister D K Shivakumar, also proposes relaxation in building violation norms and expansion of property digitisation through Aadhaar-linked records and GIS mapping. Weekly open-house camps will be organised across Bengaluru to support property owners with e-Khata services and grievance resolution. The move is expected to impact property documentation, transactions, utility access and regularisation across the city’s residential market.Read more

2 hours ago

British commercial property company Land Securities Group, also known as Landsec, reported annual results that were ahead of market expectations, supported by strong demand across its office and retail portfolio. The company recorded higher occupancy levels, growth in rental income and better-than-expected property valuations at the end of the financial year. Demand from AI-focused companies also continued to support premium office leasing in London. While Landsec plans to remain cautious on new office developments over the next 18 months, it is looking at retail acquisitions after seeing its strongest retail rental growth in nearly two decades.Read more

3 hours ago

Uber is set to establish its first data centre in India in partnership with Adani Group, marking a significant step in the company’s expanding technology and infrastructure presence in the country. The facility, expected to become operational later this year, will support the testing and deployment of Uber’s technology solutions from India for global operations. The announcement was made by Uber Chief Executive Officer Dara Khosrowshahi following a meeting with Gautam Adani in Ahmedabad. While financial details and investment size were not disclosed, the development reflects growing interest among global technology firms in strengthening local digital infrastructure and data processing capabilities within India’s rapidly expanding innovation and technology ecosystem.Read more

4 hours ago

Indian Railway Finance Corporation reported a steady financial performance for the March quarter, with net profit remaining largely unchanged at INR 1,684 crore. The company’s annual profit touched a record high in FY26, supported by higher income, rising interest earnings and growth in railway-linked financing activities. The state-owned financier also reported a sharp rise in assets under management to INR 4.85 lakh crore as it expanded beyond its traditional financing base. During the year, IRFC increased sanctions and disbursements while maintaining its long-standing zero non-performing asset record.Read more

5 hours ago

The National Company Law Tribunal has approved the withdrawal of insolvency proceedings against Nobility Estates, the developer of ATS Group’s Le Grandiose project in Noida, after lenders and the company’s earlier management reached a settlement. The proposal received more than 92% approval from the committee of creditors, including strong backing from homebuyers. The settlement includes repayment commitments, allocation of residential units to lenders, and timelines for regulatory approvals and project completion. The tribunal has restored management control to the company’s board, bringing temporary relief to homebuyers and lenders involved in the stalled project.Read more

6 hours ago

Brigade Enterprises Ltd reported a 5 per cent decline in its pre-sales for the last fiscal, which stood at INR 7,424 crore compared to INR 7,847 crore in the previous year. The company attributed the drop mainly to delays in obtaining approvals, which pushed several residential project launches into the later part of the fourth quarter and some into the next fiscal cycle. Despite the slowdown in launches, average realisation improved, supported by better pricing and a shift toward higher-value housing. The company also posted growth in net profit and total income during the year.Read more

7 hours ago

Punjab cabinet minister Sanjeev Arora has approached the Punjab and Haryana High Court challenging his arrest by the Enforcement Directorate (ED) in connection with an alleged money laundering investigation linked to a land fraud case. The petition contends that the arrest was illegal and carried out without following due legal procedure. The ED had earlier arrested Arora under provisions of the Prevention of Money Laundering Act (PMLA) following searches and investigation into alleged irregular land transactions and related financial dealings. The matter is connected to a broader probe involving allegations of cheating, fraudulent property transactions and laundering of proceeds generated through the alleged offences. The High Court is expected to hear the matter shortly as legal proceedings continue in the case.Read more

8 hours ago

DLF reported a marginal decline in consolidated net profit for the quarter ended March 2026, with earnings slipping 1% year-on-year to INR 1,268.56 crore due to lower income during the period. The company’s total income for the fourth quarter fell significantly compared to the corresponding quarter of the previous financial year. Despite the softer quarterly performance, DLF recorded higher annual earnings and revenue for FY26, supported by growth across its real estate operations. The company posted a full-year consolidated net profit of INR 4,414.68 crore and total income of INR 9,816.04 crore. DLF remains India’s largest listed real estate developer by market capitalisation and continues to maintain a dominant presence across residential, commercial and rental real estate segments.Read more

9 hours ago

Chandigarh has introduced a new tenancy framework by extending the Assam Tenancy Act, 2021 to the Union Territory, replacing the decades-old East Punjab Urban Rent Restriction Act, 1949. The move is expected to formalise the city’s rental housing market, where a large share of residents live in rented homes. The new law makes written tenancy agreements mandatory, caps security deposits, introduces a three-tier dispute resolution system and brings digital registration of rent agreements. Officials believe the reforms will improve transparency, reduce disputes and increase the supply of rental housing across residential and commercial segments.Read more

10 hours ago

Delegations from the World Bank and the Asian Development Bank reviewed ongoing infrastructure and urban development works in Amaravati during a visit to the greenfield capital city project being executed by the Andhra Pradesh Capital Region Development Authority (APCRDA). The teams assessed the progress of infrastructure construction, environmental and social safeguard measures, labour welfare facilities and smart city initiatives across the capital region. The visiting delegation included World Bank Vice President and Chief Risk Officer Dennis McLaughlin. Officials also inspected project sites including the Gravity Canal at N16 Junction near Dondapadu and visited the APCRDA Command and Control Centre to review integrated monitoring systems and technology-led governance initiatives. Discussions related to Phase-II funding and infrastructure financing requirements for Amaravati are also scheduled as part of the ongoing engagement process.Read more

Lucknow News Desk

11 hours ago

• The Lucknow Development Authority (LDA) is planning to develop around 900 affordable flats for EWS and LIG families on Sitapur Road in Lucknow.
• The housing project will come up on nearly 16,000 square metres of land near Shia PG College that was recently cleared of encroachment.
• The scheme is part of LDA’s broader focus on increasing affordable housing supply across developing residential corridors in the city.
• Officials indicated that the project will include basic civic infrastructure, internal connectivity and improved residential facilities for lower and middle-income homebuyers.
• The development is expected to support rising residential demand in northern Lucknow, where infrastructure and housing activity have been steadily growing in recent years.Read more

17 May 2026

Navi Mumbai Municipal Corporation has appealed to residents in the Airoli and Belapur assembly constituencies to cooperate with the ongoing Special Intensive Revision (SIR) programme being conducted by the Election Commission of India to update and verify electoral rolls. The exercise aims to align the 2024 voter list with the final electoral roll prepared in 2002 through a voter mapping process. Maharashtra Chief Electoral Officer S. Chockalingam recently reviewed the progress of the initiative during a visit to the Navi Mumbai civic headquarters and instructed officials to accelerate the verification process. Booth Level Officers (BLOs) have been tasked with correcting duplicate, incomplete and invalid voter records while conducting field-level verification. Citizens have been advised to confirm their voter record mapping through the BLO application and provide accurate information during household verification visits.Read more

17 May 2026

Danube Properties has launched “Greenz by Danube”, a fully furnished master villa community in Dubai featuring townhouses, semi-detached villas and twin villas with prices starting from AED 3.5 million. The project was unveiled in Dubai in the past week by Nahyan bin Mubarak Al Nahyan during an event attended by more than 7,000 investors, business leaders and industry stakeholders. Located near Dubai International Academic City and Dubai Silicon Oasis, the development will include over 50 amenities spread across themed leisure zones and will offer a flexible 1% monthly payment plan. The project is scheduled for handover in December 2029 and forms part of Danube Properties’ broader expansion within Dubai’s growing residential market and emerging technology-led urban corridors.Read more

17 May 2026

• Kochi Metro Rail Ltd has revised the commissioning timeline for the Phase II Pink Line corridor, with operations now expected to begin in April 2027 instead of the earlier mid-2026 target due to delays in funding and construction work.
• The delay was mainly linked to the pending release of an INR 1,016.24 crore loan from the Asian Infrastructure Investment Bank, which slowed civil, electrical and station-related works across multiple stretches of the project.
• The 11.2-km corridor connecting JLN Stadium and Infopark is expected to improve connectivity to Kakkanad’s IT and commercial hubs, where a large number of employees currently rely on road-based transport for daily travel.Read more

Bangalore News Desk

17 May 2026

• South Western Railway has extended the completion deadline for the Bengaluru Cantonment-Whitefield rail quadrupling project to March 2027 due to construction and land-related challenges.
• The 19-km corridor project, approved in 2018 at INR 492 crore, has now seen its estimated cost rise to around INR 664.5 crore.
• Nearly 75 per cent of the work has been completed, including commissioning of the Cantonment-Byappanahalli section.
• The upgraded rail corridor is expected to improve suburban train movement, reduce congestion and support additional MEMU services across Bengaluru.
• Station redevelopment and infrastructure upgrades are also underway at Whitefield and KR Pura railway stations.Read more

17 May 2026

• Avaada Group added 2 gigawatt of renewable energy capacity during the financial year ended March 2026, taking its overall portfolio beyond 17.7 gigawatt peak (GWp).
• The company stated that 7.2 GWp of the portfolio is operational, while 10.5 GWp remains under construction across multiple renewable energy projects.
• Avaada’s portfolio includes solar, wind, hybrid renewable systems, firm and dispatchable renewable energy (FDRE) projects and solar-plus-storage developments.
• The expansion comes amid continued investment activity across India’s renewable energy and energy infrastructure sectors as developers scale capacity to meet rising clean power demand and energy transition targets.Read more

17 May 2026

NTT DC REIT reported a full-year net property income of USD 74.9 million, according to a recent company update. The REIT also posted a distribution per unit (DPU) of 5.56 US cents for the financial year, while gross revenue stood at USD 164.8 million. The latest numbers come as data centre-focused real estate investment trusts continue to benefit from rising demand for digital infrastructure, cloud services, and AI-led data storage requirements across global markets. Investors have increasingly tracked the sector for stable rental income and long-term occupancy visibility.Read more

Mumbai News Desk

17 May 2026

The Bombay High Court has set aside the Maharashtra government’s decision to classify multiple land parcels in Ambernath as private forest land, giving relief to property owners after a prolonged legal dispute. The court observed that authorities had not properly followed the legal process required under the Maharashtra Private Forests Act before applying the classification. The ruling is significant for landowners and the real estate sector as such tags restrict development activity and reduce land usability. The judgment also adds to a series of recent court observations questioning procedural lapses in similar forest land disputes across Maharashtra.Read more

Ludhiana News Desk

17 May 2026

• Ludhiana’s property UID plate project has remained stalled for nearly 12 years despite multiple implementation attempts by the municipal corporation.
• The initiative aimed to digitally map residential and commercial properties through QR-enabled unique identification plates linked to civic and tax records.
• Earlier phases faced delays due to public resistance, contractor disputes, outdated surveys and disagreements over mapping methods.
• Around 85,000 properties were covered during the latest phase under the Smart City Mission before work stopped again.
• Officials are now considering a fresh city-wide survey as older GIS records no longer reflect Ludhiana’s current urban expansion and property growth.Read more

17 May 2026

Nexus Seawoods has launched ‘Panda World’, a themed indoor entertainment attraction aimed at families and children during the summer holiday period in Navi Mumbai. The experiential installation, which opened on May 9, features an oriental-inspired panda-themed environment with interactive gaming areas, activity zones, rides and performance spaces within the mall premises. The ticketed attraction is priced from INR 499 onwards and includes arcade zones, AR-based photo experiences, children’s workshops and themed installations. The initiative reflects the continued focus of organised retail destinations on experiential programming to increase visitor engagement and footfall during seasonal periods. Located in Navi Mumbai, Nexus Seawoods has been expanding family-oriented entertainment and event-based attractions as malls increasingly position themselves as mixed-use lifestyle destinations beyond conventional retail formats.Read more

17 May 2026

Nemetschek Group India has entered into a three-year strategic partnership with New Consolidated Construction Company Ltd. (NCCCL) to integrate Building Information Modeling (BIM) and digital construction workflows into large-scale infrastructure and real estate projects across India. The collaboration will focus on sectors including residential, commercial, healthcare, hospitality and data centres, with pilot projects already identified in developments by Runwal and L&T Realty. Under the agreement, Nemetschek will deploy technology platforms such as Graphisoft, Allplan, Bluebeam and Solibri to improve project coordination, design validation and operational efficiency. The partnership will also include technical training programmes and workshops aimed at strengthening digital construction capabilities within NCCCL’s execution teams amid increasing project complexity and rising adoption of technology-led project management practices in India’s construction sector.Read more

17 May 2026

• Afcons Infrastructure Ltd has been selected as the most suitable bidder for a railway rehabilitation and expansion project in Croatia, marking its entry into the European infrastructure market.
• The project involves reconstruction of an existing railway track and development of a second railway line, along with electrification, signalling and telecommunication works.
• The contract is valued at EUR 677.07 million, excluding taxes, equivalent to around INR 7,544 crore.
• Company executives said the order is Afcons’ largest international contract to date and reflects its growing overseas infrastructure portfolio.
• The development adds to Afcons’ track record of executing complex transport and tunnelling projects, including the Chenab bridge, Kolkata Metro under-river tunnel and Atal Tunnel.Read more

17 May 2026

Confederation of Real Estate Developers' Associations of India has decided to relocate its annual convention NATCON 2026 from Amsterdam to an Indian destination, citing support for Prime Minister Narendra Modi’s recent appeal to reduce non-essential overseas travel and conserve foreign exchange amid the ongoing geopolitical tensions in West Asia. The 23rd edition of the convention, originally planned in Amsterdam for August 2026, will now be hosted in India, with the new venue yet to be announced. NATCON is Credai’s flagship annual industry gathering and attracts more than 1,000 participants, including developers, investors, policymakers, architects and consultants. The move comes as industry bodies and businesses respond to the Centre’s call for prudent economic measures, including reduced foreign travel and greater domestic spending.Read more

17 May 2026

Madhya Pradesh Metro Rail Corporation Limited has introduced a non-fare revenue initiative allowing metro coaches and station premises in Bhopal and Indore to be rented for birthday parties, pre-wedding shoots, film productions and social events. The programme, titled “Celebrations on Wheels”, comes as metro operations in both cities continue to witness lower-than-expected ridership levels following phased launches of services. Under the initiative, stationary metro coaches can be booked at INR 5,000 per hour, while moving coaches are available at INR 7,000 per hour, subject to operational and safety conditions. Officials stated that the move is aimed at generating additional revenue, improving public engagement with metro systems and utilising urban transport infrastructure beyond conventional commuter services amid rising operational expenditure.Read more

17 May 2026

• Simon Property Group raised the lower end of its annual FFO guidance to between USD 13.10 and USD 13.25 per share, supported by stable leasing demand and higher rental income across its malls and shopping centres.
• The company lowered its annual net income forecast amid concerns around macroeconomic uncertainty, softer consumer spending and continued growth of e-commerce platforms, despite revenue beating market estimates during the first quarter.
• Quarterly occupancy improved to 96% from 95.9% a year earlier, while base minimum rent per square foot increased 5.2% year-on-year to USD 61.99, reflecting continued strength in its retail property portfolio.Read more

17 May 2026

• Hero Realty has secured a debt facility worth INR 1,200 crore from IndusInd Bank to support ongoing and upcoming residential developments across key urban markets.
• The financing transaction, facilitated by Rezonance Consultants, is expected to strengthen the developer’s balance sheet and improve long-term capital visibility for expansion plans.
• The funding comes amid continued residential growth activity, including the recent launch of The Palatial by Hero Homes in Sector 104, Gurugram along the Dwarka Expressway corridor.
• Hero Realty stated that the transaction reflects lender confidence in its project portfolio, execution capabilities and governance standards across group housing, luxury residential and mixed-use developments.Read more

17 May 2026

• Peripheral residential markets around Mumbai, including Karjat, Neral, Panvel and Khopoli, are witnessing rising homebuyer interest driven by demand for cleaner air, lower-density living and wellness-focused housing.
• Improved connectivity through the Mumbai Trans Harbour Link, highway upgrades and railway infrastructure has reduced travel time, supporting the emergence of these locations as residential and second-home destinations.
• Developers and property consultants stated that buyers are increasingly prioritising health, open spaces and lifestyle quality over proximity to central business districts.
• Industry stakeholders noted growing demand for plotted developments, larger homes and nature-oriented communities, particularly among hybrid-working professionals and families across the extended Mumbai Metropolitan Region and Raigad micro-markets.Read more

17 May 2026

The Union government has approved infrastructure projects worth INR 1,290 crore for Pune, covering water supply augmentation in newly merged areas and flood mitigation works across the city. The approval was granted during the first apex committee meeting under the Urban Challenge Fund chaired by the Union Ministry of Housing and Urban Affairs. Of the total allocation, INR 890 crore has been sanctioned for a drinking water project covering 12 merged villages in the Khadakwasla-Nanded belt, while INR 400 crore has been earmarked for flood control measures at 335 flood-prone locations in Pune. The water project includes a 200 MLD treatment plant, transmission and distribution pipelines, and smart metering infrastructure intended to serve nearly 7.78 lakh residents until 2052. The projects come amid continued concerns over water quality, uneven civic infrastructure in merged areas, and recurring urban flooding during the monsoon season.Read more

17 May 2026

Premium flexible workspace operator The Executive Centre has announced a major expansion across South India with plans to add nearly 4,65,000 sq. ft. of office space and more than 6,000 workstations in Bengaluru, Hyderabad and Chennai. The expansion includes multiple centres across key commercial districts and is aimed at addressing rising demand from Global Capability Centers (GCCs), multinational companies and domestic enterprises seeking managed office solutions. Bengaluru will see three new centres, while Hyderabad will house TEC’s largest upcoming managed office facility spanning over 2,04,000 sq. ft. Chennai will add a new centre at DLF Downtown 2. The company said the expansion aligns with increasing occupier preference for premium, scalable and flexible office environments across South India’s major commercial markets.Read more

17 May 2026

• Telangana State Industrial Infrastructure Corporation (TGIIC) has announced fresh land auctions for nearly 11 acres in Hyderabad’s Raidurg Knowledge City area.
• The upset price has been fixed at INR 139 crore per acre, with the government expecting revenue of nearly INR 2,000 crore from the auctions.
• The land parcels are located in one of Hyderabad’s most active commercial and IT corridors near HITEC City and Financial District.
• The auctions follow last year’s record land sales in Raidurg, where bids touched nearly INR 177 crore per acre.
• Developers are expected to show strong interest again due to increasing demand for mixed-use and commercial developments in the micro-market.Read more

17 May 2026

Sanghvi Realty has received the Occupation Certificate (OC) for its residential project Sanghvi Palazzo in Andheri West, Mumbai, nearly 18 months ahead of the project’s RERA possession deadline of December 31, 2027. Located on Jai Bhavani Mata Road, Ambivali, the G+9 development comprises 41 residential units across 1 BHK, 2 BHK and 3 BHK configurations, with carpet areas ranging from 358 sq ft to 770 sq ft. The project is registered under MahaRERA number P51800053991. The developer stated that the early completion reflects its focus on execution timelines, regulatory compliance and delivery-led development. The project includes amenities such as a gymnasium, landscaped recreation spaces, children’s play area and security systems, while benefiting from connectivity to metro infrastructure, commercial hubs and social amenities across Mumbai’s western corridor.Read more

17 May 2026

The Delhi government has made it compulsory for all construction and demolition sites across the capital to use green dust-control nets with a minimum thickness of 100 GSM to curb pollution caused by construction activity. The move follows recent assessments that found thinner nets ineffective in stopping dust particles from spreading into surrounding areas. The Delhi Pollution Control Committee has directed all project proponents and civic agencies to implement the rule with immediate effect. The government is also expanding digital monitoring of construction sites through Dust Portal 2.0 to improve compliance, tracking and enforcement of anti-pollution measures across Delhi.Read more

17 May 2026

• National Highways Authority of India has secured a favourable arbitration ruling in a dispute linked to the six-laning of the Kamrej–Chalthan stretch of NH-48 in Gujarat.
• The arbitral tribunal awarded only INR 54 lakh against contractor claims of around INR 174.49 crore related to the stalled highway widening project.
• The dispute involved a 15-km engineering, procurement and construction contract awarded in 2016 to SCIW–Unique Construction (JV) at a project cost of INR 241.41 crore.
• NHAI stated that the contract was mutually foreclosed in 2020 after physical progress reached approximately 49.79 per cent and both parties had agreed to full settlement of claims.
• The authority relied on drone videography, digital project records, and technical documentation during arbitration proceedings to defend its position and demonstrate contractor non-performance.Read more

17 May 2026

• The Mandate House facilitated sales of 111 residential units worth more than INR 100 crore within one week of the launch of Stans Arize, a project by Stans Buildtech in Jogeshwari East.
• The 23-storey development at Janata Colony, Gandhi Nagar comprises 1 and 2 BHK apartments and was launched under an exclusive sales mandate managed by The Mandate House.
• According to the companies, the project witnessed strong demand due to its proximity to the Western Express Highway, metro stations and suburban railway connectivity.
• The development also includes amenities such as a swimming pool, fitness centre and landscaped recreational spaces. Stans Buildtech currently has 13 ongoing and four upcoming projects across Mumbai.Read more

17 May 2026

HTL International is expanding its India operations with plans to double its retail footprint over the next two years as the upholstered furniture manufacturer targets 35% growth in 2026 across its brands Domicil, Fabbrica and Corium. The company currently operates one flagship outlet and 33 shop-in-shops in the country and intends to strengthen its presence in Tier 2 cities alongside new flagship stores in metropolitan markets. HTL stated that the strategy is being driven by rising demand for organised furniture retail, growing premium housing consumption and increasing discretionary spending on interiors in smaller cities. The company also expanded its Chennai manufacturing facility from 2.5 lakh sq ft to 3.5 lakh sq ft to support both domestic and export demand, reinforcing India’s role within its global supply chain.Read more

17 May 2026

• India’s Global Capability Centre (GCC) sector is witnessing a shift in hiring patterns as artificial intelligence automates repetitive tasks while increasing demand for specialised, AI-native talent.
• Companies are moving away from volume-driven recruitment for routine support functions and are prioritising professionals skilled in AI integration, digital trust, sovereign data governance, and product engineering.
• Industry leaders indicate that GCCs are evolving from traditional back-office operations into innovation-led centres handling core intellectual property and strategic business functions.
• The rise of smaller “Micro-GCC” teams is driving recruitment in niche technology domains where employees are expected to combine technical expertise with business strategy and problem-solving capabilities.
• Experts believe the transition reflects the growing maturity of India’s GCC ecosystem, with organisations increasingly focusing on high-value innovation and long-term technology leadership.Read more

17 May 2026

• Dosti Realty inaugurated a Ganesh temple within its Dosti Greater Thane township in Kalher, marking the first temple developed inside any of the company’s residential projects.
• The temple forms part of the developer’s broader community infrastructure plan within the 125-acre integrated township located near Thane.
• The project, situated around 7 km from Lake Shore Thane, includes over 70 per cent open green spaces, a 1 lakh sq. ft. clubhouse, high-street retail and planned educational facilities.
• Company executives stated that the temple is intended to function as a shared cultural and social space for residents. The township is also expected to benefit from connectivity through the upcoming Kalher Metro Station.Read more

17 May 2026

• Maharashtra’s Vision 2047 tourism plan targets INR 1 lakh crore investment and 18 lakh jobs.
• The roadmap includes PPP tourism projects, MICE infrastructure, cruise tourism and heritage circuits.
• Proposed MMR projects include island tourism, waterfront developments and coastal infrastructure.Read more

17 May 2026

• ICRA projects MoRTH road execution at 9,500-10,000 km in FY2025-26 and 9,000-9,500 km in FY2026-27.
• Construction activity has moderated from 10,660 km in FY2024-25 due to slower project awards and shrinking order books.
• Road awards in FY2025-26 are expected at 7,250-7,750 km, broadly unchanged from the previous year.
• Extended monsoon disruptions have further affected execution activity across highway projects.
• Toll collection growth is estimated at 7-9% in FY2025-26, supported by improved traffic growth.Read more

17 May 2026

Navi Mumbai Municipal Corporation (NMMC) has reported increased usage of its WhatsApp chatbot service launched on mobile number 8291920504, as citizens increasingly access municipal services, property tax payments and civic information through digital platforms. The civic body stated that over 113 services, including birth and death certificates, property tax, water charges and construction-related permissions, are now available online through integrated systems. According to NMMC, more than three lakh citizens have received property tax notifications through the chatbot platform, while over 7,000 users have completed payments using WhatsApp payment links. The municipal authority also stated that approximately INR 10 crore was collected following digital message campaigns conducted in March 2026. The chatbot service supports both Marathi and English languages and functions as part of NMMC’s broader digital governance and citizen service delivery strategy.Read more

Nagpur News Desk

16 May 2026

A district court in Nagpur has upheld the eviction proceedings initiated by the Nagpur Municipal Corporation over a prime 15,000 sq m land parcel located on Subhash Road near Agyaram Devi Square, dismissing multiple civil appeals filed against the civic body’s notices. The disputed land had originally been leased to Abhyankar Smarak Trust in 1937 for charitable purposes, but the lease expired in 1967 and was not renewed thereafter. According to the court order, portions of the land were subsequently sublet to commercial establishments without municipal approval. The ruling clears the way for the civic authority to proceed with repossession of the site for a proposed public development project and reinforces municipal powers relating to occupation of public land after expiry of lease agreements.Read more

16 May 2026

• Future City Leasehold Real Estate Investment Trust reported quarterly total income of 261.1 million baht in its latest financial update.
• The Reuters filing did not provide additional details on profit, distributions, or operational performance.
• The update comes as investors continue to track leasing activity, rental income stability, and occupancy levels across Asian REIT markets.
• Real estate investment trusts in the region are also monitoring the impact of interest rates and financing costs on returns.
• Market participants are expected to watch upcoming disclosures for further clarity on the trust’s portfolio and future performance.Read more

16 May 2026

• State Bank of India has urged the central government to revisit the definition of affordable housing amid rising residential property prices and higher home loan ticket sizes.
• C S Setty stated that the bank’s average home loan size has increased to around INR 51 lakh from INR 35–40 lakh over the past two years, reflecting changing market dynamics across urban housing markets.
• The current affordable housing framework largely applies to homes priced up to INR 45 lakh, subject to specified carpet area limits under existing policy norms.
• The lender stated that current thresholds may no longer reflect residential pricing levels in major cities, renewing discussions around affordable housing incentives, housing finance accessibility and policy recalibration in India’s residential sector.Read more

16 May 2026

The Income Tax Department has detected discrepancies worth nearly INR 45,000 crore in real estate transactions after conducting searches and verification exercises at sub-registrar offices in Gurugram and Mohali. The investigation focused on possible irregularities in reporting high-value property deals, including suspected undervaluation and incomplete disclosures. Officials are examining transaction records, registration data and financial filings to identify mismatches. The findings come amid tighter scrutiny of the real estate sector, where authorities have been increasing monitoring of property transactions to curb tax leakage, cash dealings and reporting irregularities across major markets.Read more

16 May 2026

• Ministry of Railways has granted in-principle approval for a new suburban railway station between Mulund and Thane in the Mumbai Metropolitan Region.
• Devendra Fadnavis announced the approval earlier this week while sharing communication received from Ashwini Vaishnaw.
• The proposed station has been a long-pending demand from local representatives and residents seeking improved suburban rail accessibility across the rapidly growing eastern Mumbai-Thane corridor.
• The station is proposed on land belonging to a government mental hospital and is expected to strengthen regional connectivity and commuter movement across the Mumbai Metropolitan Region.Read more

16 May 2026

Australia’s Labor government has announced major changes to property investor tax benefits in a move aimed at improving housing affordability and helping first-time buyers enter the market. The reforms include reducing tax deductions for investors and replacing the long-standing 50% capital gains tax discount with a system linked to inflation. The decision has triggered mixed reactions across the country, with younger Australians and aspiring homeowners largely supporting the move, while investors and opposition leaders have criticised it. The policy marks one of the biggest housing tax reforms in Australia in decades and reflects growing political pressure over rising property prices and generational inequality.Read more

16 May 2026

The Reserve Bank of India is anticipated to transfer its highest-ever dividend to the government, offering a strong fiscal support at a time when global uncertainties, including the Middle East situation, are affecting economic planning. Last year, RBI’s dividend stood at INR 2.69 lakh crore, significantly higher than the previous year’s INR 2.11 lakh crore. The upcoming decision is expected in the RBI board meeting scheduled later this month. Alongside this, strong profitability from public sector banks and other financial institutions is expected to support higher-than-budgeted non-tax revenue for the government in the coming fiscal year.Read more

16 May 2026

• Ashwini Vaishnaw said railways, electronics and semiconductors, and AI would drive India’s next phase of economic and industrial growth.
• The minister highlighted rising railway infrastructure investment, with capital expenditure reaching nearly INR 2.72 lakh crore in the last financial year.
• He said smartphone exports emerged as India’s largest export category amid growth in electronics manufacturing and the semiconductor ecosystem.
• Vaishnaw stated that the Dedicated Freight Corridor has reduced freight transit time, while stressing the need for AI adoption, data centres and workforce skilling.Read more