17 minutes ago

Cathay Pacific has announced temporary flight cuts due to rising jet fuel costs linked to Middle East tensions. The airline will cancel about 2 per cent of passenger flights between May 16 and June 30, while its low-cost arm HK Express will reduce operations by around 6 per cent from May 11. Services to Dubai and Riyadh will remain suspended during this period. The move comes as fuel prices stay elevated amid global supply concerns. Despite the short-term adjustments, Cathay Pacific plans to resume full operations after June and continue its expansion, supported by strong demand for international travel.Read more

47 minutes ago

U.S. mortgage rates fell slightly to 6.51% for the 30-year fixed-rate loan, the first decrease since the Iran conflict began, but the shift has not significantly improved conditions for buyers dealing with high costs and expensive homes. Refinancing declined, and purchase applications remain below last year's levels. Rising Treasury yields and increased fuel costs have added to financial pressure. Housing affordability remains a political focus, with the Trump Administration preparing a major policy announcement, building on earlier proposals to limit institutional home purchases and boost mortgage-backed securities purchases to lower borrowing rates.Read more

1 hour ago

Barneys Hard Seltzer has raised fresh funding from The Chennai Angels as part of its Pre-Series A round, with participation from existing investors including Mumbai Angels and ah! Ventures. The funds will be used for operations, hiring, licensing, and expanding brand presence across India. Founded by Ruchi Gupta and Gaurav Sharma, the company operates in the fast-growing Ready-to-Drink (RTD) segment, offering zero-sugar and low-calorie beverages. As demand rises for wellness-focused products, Barneys is expanding its footprint in urban and emerging markets. The investment reflects growing interest in lifestyle-oriented beverage brands and India's evolving consumer preferences.Read more

1 hour ago

India received the highest number of regressive tax recommendations from the IMF between 2022 and 2024, according to an Oxfam report analysing guidance given to 125 countries. The study found that a majority of tax advice for low- and middle-income nations placed a heavier burden on lower-income groups, while high-income countries received more progressive recommendations. South Asia recorded the highest share of such guidance. The report also noted limited focus on wealth taxes despite rising global inequality. Oxfam has called for more progressive tax policies, urging greater emphasis on taxing high-income individuals and reducing reliance on consumption-based taxes in developing economies.Read more

2 hours ago

Blackstone Digital Infrastructure Trust has filed for an initial public offering in the United States, aiming to tap into growing investor interest in data centre real estate driven by artificial intelligence-led demand. The REIT plans to acquire stabilised data centres leased to major global technology firms, including leading hyperscalers. Blackstone, which has deployed around USD 200 billion in digital infrastructure investments since 2018, is positioning the vehicle to target assets valued between USD 250 million and USD 1.5 billion. The listing, proposed on the NYSE under the symbol BXDC, comes as the US data centre market expands rapidly, with total asset value expected to reach USD 1 trillion by 2030.Read more

2 hours ago

Juno Joule Bio Fuels has begun construction of its compressed bio-gas (CBG) project in Telangana's Siddipet district, with a total investment of INR 700 crore. The project includes a cluster of 10 plants with a combined capacity of 100 tonnes per day, to be developed in phases by 2029-2030. Built under the CBG-CGD Synchronisation scheme, the plants will convert agricultural and organic waste into clean fuel for supply through the city gas network. The initiative supports waste-to-energy solutions, clean fuel adoption, and regional development, while creating opportunities for farmers and strengthening India's bio-energy infrastructure.Read more

3 hours ago

The Jammu and Kashmir government has set up a vacuum bag-based wool collection centre in Rajouri to improve wool handling and support local sheep breeders. The district produces around seven lakh kilograms of wool annually, but limited infrastructure has affected market access, especially for the Bakerwal community. The new facility uses vacuum technology to compress and protect wool, making storage and transport more efficient. Additional measures include distributing shearing machines and promoting farmer producer organisations to establish processing units with government support. The initiative aims to strengthen the supply chain and improve income opportunities for wool producers in the region.Read more

3 hours ago

The National Company Law Appellate Tribunal (NCLAT) has adjourned the hearing on Vedanta Ltd's challenge to Adani Enterprises INR 14,535 crore bid for Jaiprakash Associates Ltd (JAL), due to a change in bench composition. Vedanta has filed appeals against the NCLT's approval of the resolution plan under the Insolvency and Bankruptcy Code. Earlier, both the NCLAT and the Supreme Court declined to stay the process, though the outcome remains subject to final rulings. The Supreme Court also directed that key decisions by the monitoring committee require tribunal approval. The case is closely watched given JAL's significant role in India's real estate and infrastructure sectors.Read more

4 hours ago

IOI Properties Group has announced plans to establish and list a Malaysian real estate investment trust backed by a diversified portfolio of retail, office and hospitality assets valued at approximately 7.58 billion ringgit (USD 1.9 billion). The proposed REIT, expected to launch by the fourth quarter of 2026, will comprise prominent assets including IOI City Mall and multiple hotel properties. The offering could raise nearly 1.97 billion ringgit through an initial public offering of units, with total proceeds estimated at 4.62 billion ringgit. The company intends to utilise funds primarily for debt repayment and ongoing investments, aligning with earlier plans to explore dual REIT listings in Malaysia and Singapore.Read more

5 hours ago

Ashiana Housing has acquired a 28.55-acre land parcel in Pune, Maharashtra, to develop a senior living housing project with an estimated revenue potential of INR 1,800 crore. The development will have a saleable area of around 20 lakh sq ft and marks the company's largest land acquisition for a senior housing project to date. The move comes amid rising demand for senior living communities, with the developer actively seeking land in key markets. The acquisition also follows a strong sales performance by the company in the past financial year, with record pre-sales and a significant increase in quarterly bookings.Read more

5 hours ago

Union Minister for Road Transport and Highways Nitin Gadkari has indicated that the government may require complete land acquisition before granting approval to new national highway projects, tightening existing norms. Speaking at an industry event in New Delhi, he highlighted persistent challenges related to land acquisition and environmental clearances that delay project execution. The ministry currently mandates 90 per cent land readiness before project commencement but is now considering raising this threshold to 100 per cent. Gadkari also pointed to highway assets worth INR 15 lakh crore available for monetisation and flagged concerns over the quality of detailed project reports, suggesting greater accountability and expertise in project planning.Read more

6 hours ago

Construction of the 1,200 MW Punatsangchhu-I hydropower project in Bhutan has resumed after a nearly seven-year halt caused by geological issues affecting dam stability. The restart was marked by a concrete pouring ceremony attended by India's Power Minister Manohar Lal. The India-funded project, located in Wangdue Phodrang, is expected to be completed within five years and will significantly enhance Bhutan's hydropower capacity by around 30 per cent. With over 93 per cent financial and nearly 88 per cent physical progress achieved prior to suspension, the project underscores continued India-Bhutan cooperation in energy infrastructure and cross-border electricity trade.Read more

6 hours ago

Hawelia Group has secured approval from the Uttar Pradesh Real Estate Regulatory Authority to take over and complete the stalled Shri Radha Sky Gardens project in Greater Noida. The developer plans to invest INR 770 crore to deliver 2,064 residential units across the 22-acre project, benefiting over 2,000 homebuyers affected by long delays. The project, originally developed by SJP Infracon, is expected to be completed within 42-48 months. Backed by funding from the Washington State Investment Board, the revival follows regulatory clearances, including approval from the Greater Noida Authority and execution of a joint development agreement.Read more

7 hours ago

Vietnam-based conglomerate Vingroup has entered into a memorandum of understanding with the Government of Maharashtra to explore investments worth USD 6.5 billion across multiple sectors in the state. The proposed investments include large-scale urban development projects near Mumbai, electric mobility initiatives and renewable energy infrastructure. The company is evaluating integrated townships spanning around 1,000 hectares with an estimated outlay of USD 5 billion, alongside plans to deploy 60,000 electric taxis. The agreement aligns with Vingroup's broader India expansion strategy, following its presence in Tamil Nadu and planned investments in Telangana, and is expected to generate significant employment over the next few years.Read more

7 hours ago

The National Company Law Appellate Tribunal has ruled that insolvency proceedings initiated by homebuyers against real estate developers must be restricted to the specific project where default has occurred, and cannot be extended to other projects of the company. The ruling came while adjudicating an appeal related to Raheja Developers, where the tribunal confined the CIRP to the Krishna Housing Scheme. The decision emphasises protection of stakeholders in unrelated projects and clarifies that creditor claims must also remain project-specific. The case pertains to delays in an affordable housing project comprising 1,644 units, where construction timelines were impacted and costs escalated.Read more

8 hours ago

Signature Global Ltd has reduced its net debt by 77 per cent to INR 200 crore at the end of 2025-26, supported by improved cash flows and strengthened liquidity. The company reported cash and cash equivalents of INR 2,770 crore, reflecting a stronger balance sheet position. During the year, it also finalised a 50:50 joint venture with RMZ Group for an 18-acre commercial project in Gurugram, with an investment outlay of INR 7,500 crore. While sales bookings declined to INR 8,220 crore amid softer demand, average realisations rose due to higher pricing and increased contribution from premium housing.Read more

8 hours ago

The Maharashtra government has approved the acquisition of 28.84 acres of land owned by BSNL and MTNL in Borivali, Mumbai, for developing affordable housing under the Pradhan Mantri Awas Yojana. The land, located at Gorai and Shimpoli, will be acquired at ready reckoner rates for INR 729 crore. The project is expected to deliver over 1,000 housing units. The decision was taken at a meeting of the Maharashtra Housing Development Authority chaired by Chief Minister Devendra Fadnavis. The move forms part of the state's efforts to utilise public land parcels for affordable housing development in high-density urban areas.Read more

9 hours ago

The Gujarat government has entered into a memorandum of understanding with Taiwan-based Allegiance International Co Ltd to establish an Indo-Taiwan Industrial Park in the Sanand-Dholera region. The proposed development is expected to attract over INR 1,000 crore in foreign direct investment, primarily in semiconductor and electronics manufacturing. The project is estimated to generate around 12,000 direct jobs over five years and will support India's semiconductor ambitions. The agreement, signed in Gandhinagar, aims to facilitate collaboration between Indian and Taiwanese enterprises while strengthening Gujarat's position as a manufacturing hub, where projects worth over INR 1.24 lakh crore are already under development.Read more

9 hours ago

Equity benchmark indices Sensex and Nifty fell sharply in early trade, tracking global market weakness amid rising geopolitical tensions and a surge in crude oil prices. The decline follows stalled US-Iran negotiations and concerns over disruptions in the Strait of Hormuz, pushing Brent crude above USD 100 per barrel. All Sensex stocks opened in the red, with key sectors facing selling pressure. Asian markets also traded lower, reflecting cautious investor sentiment. Analysts highlight that higher oil prices could impact inflation and corporate earnings. Despite this, foreign institutional investors remained net buyers in the previous session.Read more

10 hours ago

Ares Management has agreed to acquire Whitestone REIT in an all-cash transaction valued at about USD 1.7 billion, taking the U.S.-based retail real estate investment trust private. Under the agreement, shareholders of Whitestone REIT will receive USD 19 per share in cash, reflecting a premium over its previous trading level. The deal has been unanimously approved by Whitestone's board and is expected to close in the third quarter of 2026, subject to regulatory approvals and shareholder consent. The transaction comes amid continued consolidation in the retail REIT segment.Read more

10 hours ago

The central government has approved road and bridge projects worth about INR 290 crore in Odisha's Ganjam district to improve connectivity around Aska. The plan includes a 6.72 km bypass linking NH-157 and NH-59, along with multiple bridge constructions over key rivers and a local nullah. These projects aim to reduce congestion, improve traffic flow and address flood-related disruptions. Funding support will come through central schemes, while a feasibility study has also been approved for a proposed four-lane greenfield road between Berhampur and Aska.Read more

11 hours ago

The Asian Development Bank has suggested that India can strengthen its social protection system by adopting an integrated framework that brings together pensions, health insurance and disability coverage. The approach aims to reduce duplication, improve beneficiary targeting and make better use of public funds. It also recommends expanding direct benefit transfers, shifting subsidies towards investment-led support and introducing impact assessments. These measures can help improve fiscal efficiency while ensuring support reaches the right groups and freeing resources for infrastructure and long-term growth.Read more

11 hours ago

The Odisha government has unveiled 36 industrial projects involving an investment of INR 40,811 crore, expected to create around 59,000 jobs across the state. The initiatives include both inaugurated units and newly laid foundation stones, covering sectors such as green energy equipment, metals, textiles, plastics, tourism, agriculture, food processing, defence manufacturing, IT, automobiles, and cement. The state leadership highlighted sustained industrial momentum over the past 18-20 months, driven by multiple project launches and investments aimed at strengthening Odisha's manufacturing and employment base.Read more

12 hours ago

Skanska AB has secured a contract valued at NOK 1.2 billion to build a new double-track railway line in Norway. The project reflects continued investment in rail infrastructure aimed at improving capacity and efficiency in the country's transport network. The contract, equivalent to about SEK 1.1 billion, adds to Skanska's order book in the Nordic region, where public infrastructure development remains a key growth driver. The development is aligned with broader efforts to enhance sustainable mobility and reduce congestion through upgraded rail systems.Read more

12 hours ago

Godrej Properties Ltd reported a 16 per cent year-on-year rise in its sales bookings during the last fiscal, reaching a record INR 34,171 crore, supported by strong demand for residential properties across major Indian cities. The company surpassed its earlier target of INR 32,500 crore, achieving its highest-ever booking value and volume through the sale of 17,515 units covering 27 million sq ft. Mumbai Metropolitan Region led contributions, followed by Bengaluru, Delhi NCR, Pune and Hyderabad. The company expects continued momentum with a strong launch pipeline ahead.Read more

13 hours ago

Equinix has expanded its presence in Mumbai with the launch of its fourth data centre, investing USD 95 million to strengthen digital infrastructure capacity. The facility adds over 1,370 cabinets, supporting growing demand for cloud and data services. In a separate development, NOCIL has commissioned a new rubber chemicals plant in Dahej with an investment of INR 250 crore, aimed at boosting domestic supply and exports. Meanwhile, DBS Foundation has announced grants of up to INR 1.75 crore for three Indian enterprises working across healthcare, employment, and social impact sectors, highlighting continued institutional support for innovation.Read more

13 hours ago

The Delhi Development Authority (DDA) carried out a demolition drive in Sainik Farm, South Delhi, targeting two residential plots located on Western Avenue. The operation took place during early morning hours with police deployment to maintain order. Residents opposed the action, claiming that a valid court stay order was in force and raising concerns over unclear land demarcation and Khasra identification. The Residents Welfare Association termed the move unjustified and unlawful. The incident comes amid ongoing policy discussions around regularisation of unauthorised colonies in Delhi.Read more

14 hours ago

Wihlborgs Fastigheter AB has entered into a development and lease agreement with MilDef Group AB for a 10,200 sqm integrated facility. The project involves a total investment of SEK 97 million, including land costs. The lease agreement will run until 2039, indicating a long-term commitment between both companies. The facility is expected to be ready for occupancy in summer 2027. The deal reflects continued demand for customised, built-to-suit industrial and technology spaces, particularly from defence and technology-linked companies seeking secure and specialised infrastructure.Read more

14 hours ago

The Haryana government has approved an expenditure of INR 1,028 crore for a wide range of infrastructure and departmental projects across multiple sectors. The approval was given during a High-Powered Purchase Committee meeting chaired by the Chief Minister. The allocation covers urban infrastructure, water supply systems, health facilities, industrial pollution control measures, and civic development works. Savings of about INR 96 crore were also achieved through negotiations with contractors. Authorities have directed departments to ensure timely execution, quality control, and strict monitoring of all ongoing works.Read more

15 hours ago

Unite Group is planning to accelerate the sale of lower-yielding student housing assets as it sharpens focus on higher-return properties near top UK universities. The company has completed or initiated disposals worth GBP 130 million (USD 174.42 million) and is preparing an additional GBP 500 million pipeline for sale over the next 6 to 12 months. Despite softer international student demand due to visa changes and rising education costs, Unite expects occupancy and rental growth to remain within its projected range, supported by strong pre-bookings.Read more

15 hours ago

Adani Green Energy has entered into a joint venture through its subsidiary AGEL UAE with Minerva Holding RSC, a wholly owned arm of EPointZero, to develop renewable energy projects in India. EPointZero is part of the UAE-based IHC Group, one of the largest listed companies globally. The agreement includes provisions for equity participation and board representation. The partnership reflects increasing cross-border investments in India's clean energy sector and aligns with the country's long-term renewable energy expansion plans.Read more

Mumbai News Desk

16 hours ago

The Bombay High Court has directed the Mumbai Metropolitan Region Development Authority (MMRDA) to refund INR 646 crore to Reliance Industries Limited in a major ruling linked to a long-standing dispute over a commercial development project at Bandra Kurla Complex in Mumbai. The court has set aside penalty and demand notices issued by the authority, observing that the recovery action lacked legal backing and was applied in an arbitrary manner. It further noted inconsistency in extension benefits granted to similar projects, leading to unequal treatment, and ordered the refund within a fixed timeframe with interest applicable on delay.Read more

16 hours ago

ESR has secured USD 850 million in fresh equity from its existing shareholders to support growth across its logistics real estate and data centre businesses in the Asia-Pacific region. The fundraising follows its privatisation in 2025 and adds to over USD 2 billion raised through asset sales and recapitalisation efforts since early 2025. The company plans to deploy the capital in key markets such as Australia, Japan and South Korea, while exploring opportunities in India, Southeast Asia and Greater China. ESR also continues to expand its logistics and data centre development pipeline across the region.Read more

17 hours ago

Minister of State for Road Transport and Highways Harsh Malhotra said that road safety awareness has now become a national movement that depends on responsible behaviour from all road users. He noted that road safety efforts are part of a continuous national effort rather than isolated initiatives. He highlighted that India continues to record a high number of road accident fatalities every year, with a significant share involving two-wheelers. He stressed the importance of the government's 4E framework and urged citizens, especially youth, to follow traffic rules and support safer road practices.Read more

17 hours ago

Britain's housing market cooled last month as the Iran conflict and rising mortgage rates reduced buyer interest, according to RICS. House prices fell sharply, while new buyer demand and sales expectations dropped to multi-year lows. Temporary geopolitical developments provided brief relief in mortgage rates, but they remain elevated compared to pre-conflict levels. Meanwhile, rents continued to climb due to strong demand and fewer new landlord listings. Future housing trends will depend on how oil, energy costs, and geopolitical conditions evolve.Read more

18 hours ago

The Union Cabinet has approved Jaipur Metro Phase 2 with an investment of around INR 13,038 crore to expand the city's metro network through a 41 km corridor. The project will connect key industrial, residential and institutional areas, including Sitapura and Vishwakarma Industrial Area, with 36 planned stations. It aims to improve airport connectivity, reduce congestion and support sustainable mobility. Targeted for completion by 2031, the expansion is expected to increase ridership and support planned urban growth and real estate development.Read more

Bangalore News Desk

18 hours ago

AstraZeneca India has planned to sell its 64-acre manufacturing facility located in North Bengaluru for around INR 3,400 crore. The decision is part of a broader global restructuring exercise by its UK-based parent company, which is reviewing its manufacturing and supply network across markets. The asset sale reflects a continued focus on streamlining operations and monetising non-core infrastructure. The Bengaluru site, long associated with the company's production activities, is now being evaluated for divestment as AstraZeneca strengthens its focus on research, innovation, and digital healthcare capabilities in India and other key markets.Read more

Mumbai News Desk

19 hours ago

The Bombay High Court has upheld the redevelopment approval for a 16-storey residential building on Altamount Road in Mumbai and dismissed a public interest litigation challenging the project. The court observed that the petition did not demonstrate genuine public interest and appeared to question permissions already granted and implemented. It accepted submissions that approvals were issued in accordance with applicable Development Control Regulations and planning norms. The court further noted that the building was already completed and found no procedural irregularity, reinforcing limited scope of judicial interference in such matters.Read more

19 hours ago

Private equity investments in India's real estate sector have strengthened in FY26, reaching USD 4.3 billion, reflecting improved investor sentiment after a comparatively slow phase in earlier years. According to a recent industry report, the growth has been driven by higher deal activity, steady participation from both domestic and foreign institutional investors, and a continued preference for equity-led funding. Around 60 deals were recorded during the period, with investments spread across office, retail, hospitality, mixed-use developments, and emerging asset classes such as data centres.Read more

20 hours ago

Arxis, an aerospace and defense components manufacturer backed by Arcline Investment Management, is preparing for its US initial public offering with a valuation target of up to USD 11.2 billion. The company plans to raise around USD 1.06 billion through the sale of 37.7 million shares, priced between USD 25 and USD 28 per share. The listing comes at a time when global defense spending is rising, driving stronger investor interest in aerospace and defense-linked industrial companies, especially those with diversified manufacturing platforms and steady acquisition-led growth strategies.Read more

20 hours ago

The Madhya Pradesh government has approved INR 590 crore for developing an airstrip in Ujjain to support the Simhastha Kumbh Mela in 2028. The project will involve acquiring around 437.5 acres and enabling operations of larger aircraft under the UDAN scheme. The Airports Authority of India will handle development after land transfer by the state. Alongside this, projects worth over INR 15,000 crore across irrigation, education and other sectors were cleared, indicating a broader push to strengthen infrastructure and manage the expected rise in pilgrim and tourist movement.Read more

Noida News Desk

21 hours ago

New Noida has aligned its land pricing with the Yamuna Expressway Industrial Development Authority (YEIDA), fixing the rate at INR 4,300 per square metre. The move is linked to ongoing infrastructure expansion, planned industrial growth, and development activity around the Noida International Airport corridor. This alignment is expected to create uniform land valuation across adjoining development zones and streamline acquisition processes. It is also aimed at reducing pricing differences between overlapping authority areas and supporting faster execution of upcoming residential, industrial, and connectivity projects in the region.Read more

22 hours ago

Square Yards has entered into a partnership with Reserve Bank Innovation Hub to offer digital property valuation and title search services via the Unified Lending Interface. Announced in the past week, the collaboration aims to support financial institutions by providing structured real estate data for credit assessment. The platform integrates over 100 million digitised property registration records across multiple states, including Maharashtra, Karnataka and Tamil Nadu. It aggregates information from registration documents, listings, regulatory filings and circle rates, enabling lenders to access verified transaction histories, ownership records and valuation benchmarks. The initiative is expected to streamline digital lending processes by improving data accessibility and reducing reliance on manual verification systems.Read more

23 hours ago

The Ranchi Municipal Corporation has stepped up its drive against unauthorised commercial activities operating in residential areas across the city. Officials are inspecting properties, reviewing trade licences and identifying violations of land-use norms. Businesses running without proper approvals are being issued notices and may face penalties or closure. The move is aimed at reducing congestion and maintaining planned urban development. The action follows earlier enforcement efforts and reflects a continued push to ensure compliance with municipal rules and prevent misuse of residential properties.Read more

12 Apr 2026

Members of the Kolhapur City Civic Action Committee have raised objections to the draft third development plan prepared for the Kolhapur Municipal Corporation, citing a narrow focus on land reservations and inadequate attention to the city's growing infrastructure needs. The concerns were presented during a meeting with officials from the town planning department in the past week. The committee highlighted that the draft fails to address rising population pressures, increased vehicular traffic, and flood-prone zones, while civic amenities such as gardens, schools, and open spaces remain insufficient. It also pointed out that the city's administrative area has remained unchanged at 66.82 sq km for decades. The group has urged planners to revise the draft to ensure compliance with statutory requirements and align it with current urban realities.Read more

12 Apr 2026

Karnataka has received its highest-ever railway budget allocation, with focus on station redevelopment, electrification and new line expansion. Union Minister of State for Railways V Somanna stated that 61 stations are being upgraded under the Amrit Bharat Station Scheme, while 31 railway line projects are in progress. Electrification has reached about 97 per cent in the South Western Railway zone, improving efficiency. Key works also include safety upgrades through Kavach and infrastructure inspections across key sections, reflecting a continued push towards modernisation.Read more

12 Apr 2026

The Andhra Pradesh government has initiated a set of road expansion projects in Vijayawada with a total investment of approximately INR 105 crore, aimed at improving connectivity and addressing traffic congestion in the city's peripheral zones. Announced in the past week, the works involve the widening and development of three key stretches, including Ballemvari Street linking Poranki and Nidamanuru, the Auto Nagar Murali Nagar Road, and a connecting stretch up to Nidamanuru Junction. The projects are part of a broader urban infrastructure push to support the city's expansion and improve access to residential and industrial areas. Officials indicated that the upgrades are intended to streamline traffic movement and strengthen linkages between key growth corridors in the region.Read more

12 Apr 2026

Gujarat Real Estate Regulatory Authority (GujRERA) has taken strict action against real estate developers for violating rules related to RERA-mandated project bank accounts. The regulator imposed penalties totalling INR 3.5 crore after identifying irregularities in the handling of homebuyer funds. The violations included failure to deposit the required portion of collections into designated accounts and excess withdrawals beyond permitted limits. The action followed suo motu proceedings in eight cases, with fines ranging between INR 95 lakh and INR 2 crore. The move reflects tighter monitoring of financial compliance in real estate projects.Read more

12 Apr 2026

Matrix Geo Solutions has secured a contract valued at approximately INR 3.07 crore from North Western Railway to deploy drone-based monitoring systems for a railway infrastructure project. Announced in the past week, the mandate covers the 271.97-km Luni Samdari Bhildi doubling corridor spanning parts of Rajasthan and Gujarat, with execution scheduled over 30 months. The company will use UAV-enabled aerial surveys and geo-tagged data capture to monitor construction progress across stages such as earthwork, track laying and bridge development. The initiative reflects increasing adoption of geospatial technologies in infrastructure execution, aimed at improving oversight, reducing reliance on manual inspections and enhancing coordination among project stakeholders.Read more

12 Apr 2026

NAREDCO Maharashtra's leadership transition marked a renewed focus on rental housing reforms, digital adoption and policy-driven growth for the real estate sector. Speaking at the Change of Guard ceremony held in Mumbai this week, Dr. Niranjan Hiranandani highlighted the need for tax incentives and regulatory support to strengthen rental housing as a key pillar of affordable urban living. Kamlesh Thakur, who assumed charge as the new President, outlined priorities including ease of doing business, digitisation of approvals and stronger government collaboration. The event also saw the launch of the NAREDCO ONE digital platform.Read more