News

Reports have emerged about a potential plan to transfer 11 acres of prime land in Airoli, initially reserved for foreign embassies, to a prominent businessman under the pretext of developing a township.

A new DCPR 2034 rule by the Brihanmumbai Municipal Corporation (BMC) targets the expansion and rehabilitation of the Mahalaxmi Racecourse. The new Regulation 13(10) applies only to the Mahalaxmi Racecourse, not other BMC clubs, gymkhanas, or designated plots.

To promote affordable housing in India, the government has quadrupled the financial allocation to ₹10 lakh crore under the PMAY Urban 2.0 scheme. This extra funding is intended to boost affordable housing, especially for individuals relocating to cities for better jobs.

With new regulations, the RBI has changed how housing finance companies (HFCs) can raise and handle public deposits. New rules restrict HFCs from boosting public deposits for more than five years. The RBI has also lowered the deposit limit from three times to 1.5 times net owned funds.

Table Space, a managed workspace provider, will spend $100 million (₹840 crore) in office assets, include a ₹450 crore agreement with Panchshil Realty for 900,000 square feet of space in Pune. Table Space will make many acquisitions to extend its presence in India's main cities.

Flexible workspace provider Smartworks has expanded internationally by leasing 35,000 square feet of office space in Singapore. Smartworks is one of the first Indian flexible workspace companies to operate abroad.

Volkswagen Group Technology Solutions India has leased a three-story commercial tower in Hinjewadi, Pune, for over five years. In the Embassy Tech Zone of the Rajiv Gandhi InfoTech Park in the second phase of Hinjewadi development, this new office occupies over 123,000 sq ft in the Hudson Block.

The closing of the Sion Road Over Bridge (ROB) has disrupted downtown Mumbai's east-west connection. As traffic congestion increases, emphasis is turning to the monorail, which might fill the ROB's hole. New rake and signalling system bring hope to the monorail.

Thane Ring Metro approval would transform urban transit in Mumbai's most active district. As an essential infrastructure project, it will reduce traffic, increase connectivity, and promote sustainable growth. Ghar presents 5 ways the Thane Ring Metro might change Thane urban mobility by 2029.

SEBI-registered alternative investment fund (AIF) Triveda Capital has raised 80 crore in its first close, aiming to raise 250 crore. Ranjan Pai, chairman of Manipal Education and Medical Group, led the investment, a milestone for the new fund.

Golden Growth vehicle (GGF), a category-II alternative investment vehicle, aims to collect 400 crore for land purchase in South Delhi to create luxury apartments. After its first financing round, the fund bought property in South Delhi's posh Anand Niketan residential complex.

Mumbai-based real estate developer Kalpataru filed a draft red herring prospectus (DRHP) with SEBI to raise Rs 1,590 crore through an IPO. All revenues (minus IPO expenditures) will benefit the firm because the IPO is a fresh equity share issuance with no offer-for-sale component.

Rajasthan would implement extensive land reforms to increase greenfield manufacturing land available. Rajasthan's Principal Secretary (Industries) Ajitabh Sharma reported ₹5.2 lakh crore in investment proposals for renewable energy equipment and petrochemical production.

Mumbai Metro 1, which serves Versova-Andheri-Ghatkopar, reached 5 lakh daily ridership. The corridor has never had such a high number on a weekday in its 10 years. Ridership increased due to Metro expansion and good weather.

KSH Infra, a leading developer of storage and logistics parks, would spend ₹450 crore in a 50-acre industrial and logistics park in Hosur, Tamil Nadu. This is KSH Infra's strategic southern Indian market entrance.