13 Jun 2025

In a stringent move to uphold construction standards, the Haryana Irrigation Department has charge-sheeted 80 officials following the failure of 18 out of 48 tested material samples in various ongoing projects. The state's Water Resources Minister, Shruti Choudhry, underscored a zero-tolerance stance towards corruption and substandard materials, stating that officials will be held accountable, especially in projects nearing completion. The vigilance wing carried out surprise inspections after persistent complaints, signalling tighter oversight. The minister also highlighted the significance of the Kishau Dam, which is set to bolster Haryana's water supply for both drinking and irrigation purposes.Read more

12 Jun 2025

Ecoboard Industries' EcoYou initiative has successfully transformed 22 million tonnes of agricultural waste into eco-friendly building materials, strengthening sustainable construction practices. With an investment of nearly USD 24 million (INR 205 crore) into rural supply chains, the initiative has benefited farmers, artisans, and carpenters significantly. The company has begun exporting these natural fibre-based EcoBoards to Europe and aims to expand production further. EcoYou has helped avoid around 116 million tonnes of CO? emissions and generated an economic impact worth USD 240 million (INR 2,050 crore) by fostering local employment and sustainable livelihoods, aligning with global environmental, social, and governance (ESG) goals.Read more

12 Jun 2025

Infosys has recently inaugurated a state-of-the-art development centre at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, aimed at delivering cutting-edge digital solutions for global Banking, Financial Services, and Insurance (BFSI) clients. Designed to support over 1,000 employees operating in a hybrid model, this facility focuses on key areas such as digital banking, regulatory compliance, trade finance, and capital markets. By harnessing emerging technologies including AI, generative AI, cloud computing, cybersecurity, and blockchain, the centre is set to bolster India's role in the global financial technology ecosystem while creating significant employment opportunities in the region.Read more

12 Jun 2025

Tribeca Developers has launched Trilive, a built-for-rent studio apartment project in Marol, Andheri, aimed at India's growing population of millennial professionals seeking premium rental housing. Despite strong demand, studio apartments form less than 0.5% of India's housing stock. Trilive addresses this gap by offering 650 tech-enabled, fully serviced units with modern amenities like rooftop lounges, co-working spaces, and private balconies. The project is managed by Housr, which operates over 75 properties across five cities, and promises investors a rental yield of over 6% with a nine-year leaseback. This marks one of India's largest managed rental housing ventures and reflects a strategic collaboration between Tribeca, Housr, and Starwing Group. With future plans to scale up to 8,000 beds across cities, Trilive combines premium urban living with hassle-free ownership-presenting a new standard in India's rental housing landscape.Read more

11 Jun 2025

In a firm step toward enforcing urban development regulations, the Kalyan-Dombivli Municipal Corporation (KDMC) launched a demolition drive earlier this week in Titwala, targeting illegal plinths and unauthorised structures. Acting under directives from senior civic officials, the operation was carried out despite local resistance. This move follows a wider pattern of strict administrative action by KDMC, which had previously suspended municipal staff over delayed responses to illegal developments. With parallel efforts like green initiatives and sanitation reforms, KDMC aims to realign growth with compliance in fast-expanding suburban pockets.Read more

11 Jun 2025

Kalpataru Projects International Ltd (KPIL), along with its global subsidiaries, has recently secured new contracts worth INR 3,789 crore. The orders notably include the company's largest buildings and factories (B&F) contract to date in India, involving the development of over 12 million square feet of residential space on a design-and-build basis. Additionally, KPIL has secured orders in power transmission and distribution within overseas markets. This accomplishment reflects years of strategic efforts to enhance project acquisition capabilities and strengthen competitiveness through capital expenditure and execution expertise. KPIL continues to expand its presence, currently operating projects in over 30 countries worldwide.Read more

10 Jun 2025

City Developments Ltd (CDL) has announced the sale of its stake in a prime office complex for USD 646 million. The move is part of CDL's ongoing asset optimisation strategy aimed at enhancing financial flexibility and funding future acquisitions. Management stated the divestment will help unlock capital for higher-yield opportunities, particularly as interest rates remain high. The company has a history of recycling mature or non-core assets, previously selling an Orchard Road mall and Sentosa residential units to strengthen its balance sheet. The sale also highlights strong investor demand for Grade-A office assets, with Singapore's office market showing resilience through low vacancies and stable rental growth. CDL plans to deploy the proceeds toward new developments and value-add acquisitions in local and international markets, positioning itself for agile growth amid evolving economic conditions.Read more

09 Jun 2025

The Bhubaneswar Municipal Corporation (BMC) has announced plans to create three more Odisha Development Authority (ODA) courts in order to speed up the resolution of building plan disputes within the BMC's boundaries. Currently, a single ODA court handles a significant backlog of approximately 7,000 cases. The expansion aims to decentralize the adjudication process, with each new court assigned to a specific zone. This initiative is expected to streamline the handling of violations related to construction beyond approved plans or deviations, providing a more efficient mechanism for residents to address grievances.Read more

09 Jun 2025

The National Company Law Appellate Tribunal (NCLAT) has upheld insolvency proceedings initiated against Jaypee Cement Corporation Ltd (JCCL), turning down an appeal that cited an unfulfilled debt restructuring arrangement as a defence. The tribunal ruled that JCCL remained independently liable for its debts, even though its parent company, Jaiprakash Associates Ltd (JAL), had signed a Master Restructuring Agreement with lenders. It also clarified that parallel insolvency proceedings against JAL did not preclude similar action against JCCL, given the latter's role as guarantor for credit facilities. The case marks another setback for the troubled Jaypee Group.Read more

09 Jun 2025

New World Development, a major Hong Kong-based property developer, announced the deferral of coupon payments amounting to USD 77.2 million on its perpetual bonds amid a mounting liquidity crisis. This move has spurred investor concerns, causing a fall in both share prices and bond values. The developer, grappling with one of the highest debt levels in the sector, is actively pursuing a refinancing deal worth HKD 87.5 billion to stabilise its finances. The decision to delay payments is viewed as a strategic attempt to conserve cash in a challenging market environment marked by falling property prices and rising borrowing costs.Read more

09 Jun 2025

The Sambalpur Municipal Corporation (SMC) formalised a partnership with the School of Planning and Architecture (SPA), Delhi, aimed at accelerating the city's urban development initiatives. The Memorandum of Understanding, endorsed under the supervision of Union Education Minister Dharmendra Pradhan, will enable SPA Delhi to provide technical and academic expertise to help Sambalpur evolve into a model planned city. The collaboration includes comprehensive support in spatial planning, infrastructure design, heritage conservation, and sustainable urban development, alongside capacity-building programmes and field studies tailored to the city's unique cultural and geographical context.Read more

09 Jun 2025

In a decisive move to enhance transparency and homebuyer empowerment, MahaRERA has revamped its project registration certificate to include key project details in a reader-friendly bullet-point format. The new certificate now lists information such as total built-up area, number of buildings and floors, residential and non-residential units, and parking slots. It will also reflect future project updates like timeline extensions or ownership changes. This initiative, applicable to all new housing projects with immediate effect, is expected to significantly aid buyers in making informed decisions.Read more

09 Jun 2025

According to a recent Boston Consulting Group (BCG) report, merely 8% of Global Capability Centres (GCCs) have attained advanced maturity across innovation, operational efficiency, and competitive differentiation. India, along with the US and Mexico, was recognised for hosting some of the most balanced GCC ecosystems. The study spotlighted India's distinct advantage in scale, innovation, and efficiency. It stressed the urgent need for companies to treat GCCs not just as support units but as transformative engines of innovation, particularly through the strategic use of artificial intelligence, including GenAI and AI agents.Read more

06 Jun 2025

Tata Digital Pvt Ltd has leased approximately 59,000 sq. ft. of office space across three floors at One International Centre in Mumbai's Lower Parel business district. The five-year lease covers the 15th, 16th, and 17th floors, with a monthly rent of INR 1.05 crore plus INR 12.32 lakh in CAM charges, totalling about INR 1.18 crore monthly. The lease includes a 5% annual rent escalation and a rent-free period from February 1 to July 15, 2025. Tata Digital has paid INR 7.07 crore as security deposit and secured 49 car parking slots, with additional parking available at INR 10,000 per slot. This move reflects sustained demand for premium office spaces in Lower Parel, a preferred hub for corporate occupiers due to its strategic location, connectivity, and modern amenities.Read more

06 Jun 2025

The Uttar Pradesh government has launched a comprehensive three-month initiative to address unauthorized constructions across the state. This decision follows a review revealing that out of 250,000 complaints received during the 2024-25 financial year, only 3,507 were resolved, leaving the majority pending. The campaign focuses on cities like Prayagraj, Varanasi, and Gorakhpur, targeting multi-storey residential and commercial complexes built without permission and permanent structures on government land. Authorities have been directed to conduct weekly inspections, enforce immediate sealing of illegal establishments, and utilize a centralized portal for real-time updates. The drive aims to expedite the resolution of pending cases and ensure compliance with building regulations.Read more

06 Jun 2025

Bengaluru's civic body has recorded a milestone INR 2,424.93 crore in property tax collections in the first two months of the fiscal year, driven by the newly introduced waste management user fee (expected to add INR 700 crore) and a 5% early payment rebate. By April-end, collections had reached INR 1,200 crore, with May surpassing that figure. Mahadevapura led zone-wise collections at INR 598.51 crore, followed by East Zone (INR 455.06 crore) and South Zone (INR 391.96 crore). The city aims to achieve a total INR 5,100 crore this year, including INR 836.34 crore in arrears from 375,000 defaulters and INR 152.80 crore in revised tax on 9,904 properties. This strong start highlights Bengaluru's improved revenue mobilisation, supporting the city's evolving infrastructure and service delivery needs.Read more

06 Jun 2025

The Chandigarh Municipal Corporation (MC) witnessed an unprecedented rise in property tax collection during the recent two-month rebate period, amassing INR 60 crore-marking the highest-ever amount collected under the rebate scheme. This notable growth from the INR 39 crore collected during the same period last year was attributed to the civic body's decision to double property tax rates from April 2025 onwards. Over 65,000 property owners responded proactively, taking advantage of the rebate window. The majority were residential taxpayers, although commercial properties contributed a greater share due to higher tax slabs. The successful outcome was driven by streamlined payment facilities and effective communication by the MC staff.Read more

06 Jun 2025

Enzyme Office Spaces has leased 90,000 sq. ft. to accounting software firm Vyapar at its new Sarjapur Road centre in Bengaluru. The 1.2 lakh sq. ft. facility, with 3,000-seat capacity, is now nearly fully occupied, with only 30,000 sq. ft. remaining. The space was customised to Vyapar's operational needs, reflecting rising demand for flexible, tailored office environments among digital-first companies. Founder and CEO Ashish Agarwal noted strong interest from tech-driven businesses. Earlier this year, SUGAR Cosmetics leased 14,000 sq. ft. at Enzyme's Andheri East centre in Mumbai. Enzyme currently operates 32 centres across Bengaluru, Mumbai, Hyderabad, and Delhi-NCR, totalling 1.55 million sq. ft. and 38,000 seats. Workspace pricing ranges from INR 5,000 to INR 25,000 per desk. As hybrid work models evolve, Enzyme's flexibility and customisation remain key draws for modern enterprises.Read more

06 Jun 2025

A consortium led by Schloss Bangalore (The Leela) has secured an 80-year lease for a prime commercial plot in Mumbai's Bandra-Kurla Complex (BKC) from the Mumbai Metropolitan Region Development Authority (MMRDA). The consortium, which includes Arliga Ecospace Business Park Pvt Ltd and Schloss Chanakya Pvt Ltd, plans to develop a mixed-use project, featuring a 250-key luxury hotel. The plot, spanning 8,411.88 sq m with a permissible built-up area of 33,647.52 sq m, comes with a total lease premium of INR 1,302.15 crore. The highest bid was submitted earlier this year following MMRDA's evaluation process.Read more

06 Jun 2025

IHG Hotels & Resorts has signed a management agreement with Kevit Retreats for the development of a 150-key Holiday Inn Express & Suites in Pithampur, Madhya Pradesh. Announced earlier this week, the property is expected to open in the first quarter of 2028. This move reflects IHG's ongoing strategy to penetrate emerging industrial locations with globally recognised hospitality offerings. Positioned as a rising industrial centre, Pithampur is especially known for its automotive and pharmaceutical sectors, making it a strategic location for hospitality expansion. IHG currently operates 50 hotels in India and is planning to add 63 more in the next three to five years.Read more