Lucknow News Desk

3 minutes ago

• The Lucknow Development Authority (LDA) will prepare a GIS-based Master Plan 2051 for the Uttar Pradesh State Capital Region (SCR).
• The comprehensive plan will guide long-term urban growth, infrastructure expansion, land use and environmental conservation across the region.
• Advanced geospatial technology will be used to create a digital planning framework, improving decision-making and project implementation.
• The initiative is expected to support coordinated development across districts while accommodating future population and economic growth.Read more

33 minutes ago

WeWork India reported a consolidated net loss of INR 4.30 crore for the first quarter of FY27, as higher operating expenses offset growth in revenue. The coworking operator's total income increased to INR 700.74 crore during the April–June quarter from INR 545.71 crore in the corresponding period last year. Operational expenditure also rose to INR 704.77 crore from INR 559.46 crore. Although the company remained in the red, its quarterly loss narrowed significantly compared with the net loss of INR 14.10 crore reported in the year-ago period, reflecting improved financial performance amid continued business expansion.Read more

1 hour ago

ITC Hotels Ltd reported a 36% year-on-year increase in consolidated net profit to INR 181.91 crore for the quarter ended 30 June 2026, supported by higher revenues across its hospitality business. Consolidated revenue from operations rose to INR 936.02 crore from INR 815.54 crore a year earlier, while hotel business revenue reached INR 881.06 crore. The company also recorded revenue from its newly launched branded residences business. Alongside its financial results, the board approved the acquisition of GHK Hospitality & Infrastructures Ltd at an enterprise value of INR 155 crore. The acquisition will enable ITC Hotels to expand its owned hotel portfolio in Ahmedabad by acquiring GHK, which owns the 130-key Welcomhotel Ahmedabad, currently operated by the company under an operating services agreement.Read more

1 hour ago

Scandic Hotels reported a 3.5% year-on-year increase in second-quarter net sales to SEK 6 billion but fell short of market expectations of SEK 6.08 billion. The Nordic hotel operator also posted adjusted EBITDA below analyst estimates, although adjusted earnings per share improved to SEK 2.01 from SEK 1.69 a year earlier. Performance was supported by strong leisure travel, a busy events calendar and stable meetings and conference demand, while a slower-than-expected recovery in Finland continued to weigh on results. The company expects occupancy levels in the third quarter to remain broadly in line with last year, with higher average room rates and second-half performance comparable with 2025.Read more

2 hours ago

The Kerala government has said no decision has been taken on the proposed transfer of a 49 per cent stake in Adani Vizhinjam Port Private Ltd (AVPPL) to Mediterranean Shipping Company (MSC), stressing that the proposal is still under review. The state has constituted an Empowered Committee to examine the matter before taking a final call. At the same time, the government accused the previous LDF administration of extending the project's concession period and waiving around INR 219 crore in delay penalties payable by Adani Ports after the port project missed its original completion timeline.Read more

Visakhapatnam News Desk

2 hours ago

The Andhra Pradesh government has approved the revised Visakhapatnam Metropolitan Region (VMR) Master Plan 2041, providing a long-term framework for urban expansion, infrastructure development and land use across the region. The plan aims to transform Visakhapatnam into a globally competitive metropolitan hub through improved transport networks, planned urbanisation, industrial growth and sustainable development. It also integrates key infrastructure projects, including Bhogapuram International Airport and proposed metro corridors, to support future economic and population growth.Read more

3 hours ago

Signature Global Ltd reported a 25% year-on-year decline in sales bookings during the first quarter of FY27, with pre-sales falling to INR 1,970 crore amid lower sales volumes. The Gurugram-based developer sold 226 residential units during the quarter, compared with 778 units a year earlier, while the area sold declined to 0.72 million sq ft from 1.62 million sq ft. Despite the slowdown in volumes, the company's average sales realisation improved to INR 17,093 per sq ft. Customer collections also fell 28% to INR 670 crore during the quarter. Signature Global has maintained its FY27 pre-sales guidance of INR 10,000 crore after recording sales bookings of INR 8,250 crore in FY26, when it emerged as the fifth-largest listed real estate developer in India by pre-sales.Read more

3 hours ago

Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has introduced a new regulatory framework for the collection, management, investment, transfer and utilisation of Interest Free Maintenance Security (IFMS) funds collected from homebuyers. The revised provisions require developers to maintain IFMS in a separate bank account, invest the funds securely and transfer the entire corpus to Residents' Welfare Associations (RWAs) or Associations of Allottees during project handover. The amendment also introduces project-wise IFMS rates, mandatory audits and stricter financial reporting to improve transparency and ensure that maintenance funds are used only for their intended purpose.Read more

3 hours ago

India’s leading states are investing heavily in new commercial districts as competition intensifies to attract global businesses, GCCs, financial institutions and technology firms. While Mumbai’s Bandra Kurla Complex remains the benchmark, emerging hubs such as GIFT City in Gujarat, Hyderabad’s Financial District, Navi Mumbai’s International Corporate Park and the Noida International Airport region are positioning themselves as major business destinations. Together, these developments highlight how infrastructure, office space and economic clustering are reshaping India’s commercial landscape.Read more

4 hours ago

Workspace Group Plc reported a modest improvement in its operating performance during the first quarter, with higher stabilised occupancy and rental income across its flexible office portfolio. The company completed 375 leasing transactions, including new lettings and renewals, while its total portfolio occupancy reached 79.8%. Alongside the operational update, Workspace said it is evaluating additional asset disposals worth more than GBP 100 million, taking forward its strategy to strengthen earnings and optimise its property portfolio. The move also comes as the company continues to face pressure from activist investor Saba Capital.Read more

4 hours ago

India's planned infrastructure investment pipeline of nearly INR 10 lakh crore by 2030 is expected to significantly boost demand for mining and construction equipment (MCE), according to a joint report by the Confederation of Indian Industry (CII) and Boston Consulting Group (BCG). The report highlights that sustained investments across roads, railways, airports, ports, manufacturing, mining and renewable energy will require advanced earthmoving, material handling and specialised construction machinery. While the sector is poised for long-term growth, the report says India must strengthen domestic manufacturing, technology adoption, exports and skill development to emerge as a global hub for construction and mining equipment.Read more

4 hours ago

Blackstone-backed data centre operator AirTrunk is preparing to launch a Singapore real estate investment trust (REIT) IPO in September or October, aiming to raise around USD 1.5 billion, according to sources. The company has reportedly filed confidentially for the listing and has begun discussions with potential cornerstone investors. The proposed listing comes as investor interest in data centre assets continues to grow, driven by rising demand from cloud computing and artificial intelligence. However, the final timeline and deal size may change depending on market conditions.Read more

5 hours ago

The Union Cabinet has approved two National Highway projects in Varanasi involving a combined investment of nearly INR 25,500 crore to ease traffic congestion in the city. The projects comprise two elevated highway corridors linking key national highways and the Varanasi Ring Road along the Varuna and Ganga rivers. Together spanning around 89 km, the developments will include six-lane and four-lane elevated carriageways, bridges, flyovers, ramps and service roads. Both projects will be implemented by the National Highways Authority of India (NHAI) under the Hybrid Annuity Model (HAM), with the aim of improving urban mobility and strengthening connectivity across Varanasi.Read more

5 hours ago

Meta has announced a major expansion of its Hyperion data centre project in Richland Parish, Louisiana, increasing its planned compute capacity from more than 2 gigawatts (GW) to 5GW. The company said its investment in the artificial intelligence (AI) facility has now surpassed USD 50 billion, reflecting growing demand for computing infrastructure required to train large language models. The expansion includes more than USD 1 billion in local infrastructure upgrades covering roads, water and wastewater systems. Since construction began in late 2024, local businesses have secured contracts worth over USD 1.6 billion, while increased tax revenues have supported higher teacher bonuses in the parish. The announcement comes amid continued scrutiny from environmental groups over the energy demands and financing of large-scale AI data centres.Read more

6 hours ago

• NHAI has opened the 29.96-km Vadipatti–Thamaraipatti section of the Madurai Ring Road (NH-744A), developed at a cost of INR 1,024.66 crore, to improve regional connectivity and decongest Madurai city.
• The four-lane bypass connects NH-44 and NH-38, diverting heavy commercial traffic away from the city and significantly reducing travel time, fuel consumption and vehicle operating costs.
• The corridor features flyovers, major and minor bridges, underpasses, service roads, a wildlife overpass and an Advanced Traffic Management System (ATMS) to enhance road safety and ensure smooth traffic flow.
• The project is expected to strengthen connectivity to industrial hubs, logistics centres and tourism destinations across southern Tamil Nadu while improving freight efficiency and supporting regional economic growth.Read more

6 hours ago

The Securities and Exchange Board of India (Sebi) has exempted the Mehta Family Trust, promoted by actor Juhi Chawla and industrialist Jay Mehta, from making an open offer for the proposed indirect acquisition of shares in Saurashtra Cement Ltd. The exemption has been granted as the transaction is part of an internal family restructuring for succession planning and does not change the company’s control or affect public shareholders. Sebi has imposed certain compliance conditions, including filing a report after the acquisition and completing the transaction within the specified validity period.Read more

7 hours ago

The Uttar Pradesh government has opened the INR 4,500 crore Lucknow-Kanpur Expressway, significantly reducing travel time between the two cities to 35-45 minutes from nearly two hours. Developed as a high-speed greenfield corridor, the expressway is expected to improve passenger and freight movement, strengthen industrial connectivity and support economic growth across central Uttar Pradesh. The project is also expected to ease congestion on National Highway-27, enhance logistics efficiency and boost investments in manufacturing, warehousing and urban development along the Lucknow-Kanpur growth corridor.Read more

7 hours ago

The National Company Law Appellate Tribunal (NCLAT) has dismissed two appeals filed by Maharashtra Airport Development Company (MADC), clearing the way for the sale of the assets of Abhijeet MADC Nagpur Energy Pvt Ltd (AMNEPL), a power project developed to supply electricity to Nagpur's MIHAN Special Economic Zone. The tribunal upheld an earlier NCLT order validating the sale to Rankini Power Generation and ruled that the liquidator had the authority to transfer the company's leasehold assets under the Insolvency and Bankruptcy Code. However, it also clarified that MADC's rights under the Build-Operate-Transfer (BOT) agreement would remain protected.Read more

8 hours ago

The Delhi government has demolished an illegally constructed shrine on government land to facilitate the long-pending Pitampura-Shalimar Bagh road widening project in northwest Delhi. The action, carried out after following due legal procedures and obtaining administrative approvals, removes a key obstacle that had delayed the infrastructure project for years. The widened corridor is expected to ease traffic congestion, improve connectivity between Pitampura and Shalimar Bagh, and enhance commuter safety. The government said the drive reflects its commitment to removing encroachments on public land to ensure timely execution of critical infrastructure projects.Read more

8 hours ago

World of Hyatt has expanded its Asia Pacific partnership with HYROX to include race cities in India, offering race-focused stay packages for athletes and spectators. The collaboration covers upcoming HYROX events in New Delhi and Mumbai and includes exclusive room rates, hotel benefits and recovery amenities at participating Hyatt properties. Hyatt has also partnered with fitness enthusiast Milind Soman to support the initiative. The move comes as HYROX continues to expand its presence in India, where interest in fitness-based sporting events has been growing rapidly over the past few years.Read more

Mumbai News Desk

9 hours ago

Raymond Realty has signed a joint development agreement (JDA) to develop a residential project in Mumbai's Parel, with an estimated gross development value (GDV) of around INR 85 billion. The project marks another addition to the company's asset-light expansion strategy, under which it partners with landowners to develop premium housing projects without outright land acquisition. Parel remains one of Mumbai's key redevelopment and residential markets, supported by strong infrastructure, commercial activity, and steady demand for premium homes.Read more

9 hours ago

The Supreme Court has transferred a money laundering case against real estate developer Amit Katyal from a special Prevention of Money Laundering Act (PMLA) court in Gurugram to the Special PMLA Court at Saket, Delhi. The case relates to allegations of cheating homebuyers in the Krrish Florence Estate project in Gurugram and the laundering of proceeds of crime linked to the development. While allowing the transfer, the apex court held that both Delhi and Gurugram courts had concurrent jurisdiction, as the alleged concealment of proceeds of crime took place in Delhi while the underlying property transactions and project were located in Gurugram. The Enforcement Directorate (ED) has accused Katyal of fraudulently raising funds from homebuyers, diverting project and bank funds, and illegally disposing of project land during insolvency proceedings.Read more

10 hours ago

Construction of Dholera International Airport in Gujarat is around 80% complete, with the facility expected to become operational by October this year, according to Union Civil Aviation Minister Kinjarapu Ram Mohan Naidu. During a review of the project, the minister said the runway, taxiway, Air Traffic Control (ATC) tower and ancillary infrastructure have been fully completed, while work on the passenger terminal has reached 75%. The airport, being developed as part of the Dholera Special Investment Region, will feature a 25,000 sq m passenger terminal capable of handling 2 million passengers annually and a dedicated cargo terminal. The project is integrated with planned industrial, semiconductor and transport infrastructure, including a high-speed rail corridor, and is intended to support manufacturing, logistics, aerospace and aviation-related investments in the region.Read more

10 hours ago

The Centre has approved INR 1,000 crore for the construction of 2,400 km of rural roads in West Bengal under the Pradhan Mantri Gram Sadak Yojana (PMGSY) and sanctioned one lakh houses under the Pradhan Mantri Awaas Yojana (PMAY). The announcements were made following a meeting between Union Agriculture Minister Shivraj Singh Chouhan and West Bengal Chief Minister Suvendu Adhikari. The Union government has also sanctioned INR 8,508 crore for rural employment initiatives until March 2027, while indicating that the combined outlay for the programmes, including the state's contribution, will exceed INR 12,064 crore. The approvals are intended to strengthen rural connectivity, housing delivery and employment generation across the state.Read more

11 hours ago

Saudi Real Estate Company (Al Akaria) has announced that the restriction on one of its land plots in North Riyadh has been lifted, allowing the company to move ahead with evaluating development opportunities for the site. The land has a book value of SAR 98.4 million. Following the removal of the restriction, the company said it is assessing the most suitable use for the property in line with its business strategy. The development comes as Saudi Arabia continues to see strong real estate activity driven by large-scale urban and infrastructure projects under Vision 2030.Read more

11 hours ago

• The Panchkula Municipal Corporation (MC) has identified around INR 37 crore in pending property tax dues from major defaulters, including hotels, IT companies, commercial establishments and government bodies, as part of an intensified recovery campaign.
• The civic body has begun issuing notices to defaulting property owners and warned that strict enforcement measures, including sealing of properties, may be initiated against persistent defaulters.
• Officials said recovering the outstanding dues is essential to strengthen the corporation's finances and improve the delivery of civic infrastructure and public services across the city.
• The recovery drive follows the conclusion of the property tax interest waiver scheme, after which the municipal corporation has adopted a stricter approach towards tax collection.Read more

12 hours ago

Home registrations in the Kolkata Metropolitan Area (KMA) declined 14% year-on-year to 26,207 units during the first half of 2026, according to Knight Frank India. The consultancy attributed the moderation to slower market activity during the West Bengal Assembly election period and a high comparison base from the previous year, when registrations had surged sharply. In June alone, apartment registrations fell 14% from a year earlier and 21% from the previous month to 3,669 units. Despite the decline, Knight Frank said transaction volumes remained robust by historical standards, supported by resilient end-user demand. The report also highlighted a continued shift towards larger residential units, with homes measuring 501–1,000 sq ft accounting for the majority of registrations, while demand for apartments exceeding 1,000 sq ft recorded significant year-on-year growth.Read more

12 hours ago

China’s residential property market showed a slight improvement over the past month as new home prices declined at a slower pace compared to the previous month. However, analysts believe the improvement is not enough to signal a sustained recovery, with weak housing demand, falling investment, slower construction activity and cautious consumer sentiment continuing to weigh on the sector. While top-tier cities recorded marginal monthly price gains, smaller cities remained under pressure. Economists also expect the Chinese government to continue with targeted support measures instead of announcing large-scale stimulus for the housing market.Read more

Mumbai News Desk

13 hours ago

The Bombay High Court has directed the Brihanmumbai Municipal Corporation (BMC) to remove widespread encroachments around the Charkop pond in Kandivali (West) before proceeding with a proposed gabion wall to protect the water body. The court was hearing a 2021 petition filed by the BMC seeking approval for conservation and beautification of the pond, which falls within the 50-metre mangrove buffer zone. The bench flagged construction debris dumped near the site and called for a firm civic stand against illegal occupation.Read more

13 hours ago

Gensol Engineering has confirmed that the Indian Renewable Energy Development Agency (IREDA) has classified its loan accounts worth INR 673 crore as fraud and reported the matter to the Reserve Bank of India (RBI). The clarification was issued after media reports on the development. The company stated that the reports accurately reflected IREDA's order. The latest development adds to the regulatory scrutiny surrounding Gensol Engineering, which has faced multiple actions from financial and market regulators in recent months.Read more

Mumbai News Desk

14 hours ago

The Brihanmumbai Municipal Corporation (BMC) is set to launch an integrated digital portal by the end of July to streamline the management of construction and demolition (C&D) waste and facilitate soil exchange across Mumbai. The platform will enable real-time tracking of waste movement, reduce illegal dumping, curb dust pollution and improve compliance with waste disposal norms. The initiative is expected to strengthen transparency in construction activities while supporting sustainable urban development and resource reuse.Read more

14 hours ago

The Delhi High Court has questioned the authorities over why nearly 24,000 vacant Economically Weaker Section (EWS) flats have not been allotted to slum dwellers facing eviction from settlements near the Prime Minister's residence. Hearing petitions filed by affected residents, the court sought explanations from the Centre, the Delhi Development Authority (DDA) and other agencies on the availability and utilisation of completed housing units. The matter has reignited concerns over rehabilitation policy, implementation of in-situ redevelopment and the utilisation of publicly funded affordable housing stock in the national capital.Read more

15 hours ago

• Panki Dham railway station in Kanpur has been redeveloped at a cost of INR 25 crore under the Amrit Bharat Station Scheme (ABSS) to enhance passenger amenities and modernise railway infrastructure.
• The upgraded station features a modern station building, improved waiting halls, digital passenger information systems, enhanced security, better sanitation facilities and barrier-free accessibility for passengers.
• The redevelopment aims to improve commuter convenience, accommodate rising passenger traffic and strengthen connectivity for both daily travellers and devotees visiting the nearby Panki Dham temple.
• The project is part of the Indian Railways' nationwide Amrit Bharat Station Scheme, which seeks to transform over 1,300 railway stations into modern, accessible and integrated transport hubs across the country.Read more

15 hours ago

Chhattisgarh has completed more than 11 lakh houses under the Pradhan Mantri Awas Yojana (PMAY) over the past two-and-a-half years, with nearly six lakh homes delivered during FY2025-26, the highest annual completion by any state in the country. Chief Minister Vishnu Deo Sai marked the milestone in Raipur by handing over house keys to beneficiaries and releasing a progress report on the 'Mor Gaon-Mor Pani' campaign. The state has also completed 1.51 lakh houses in the first 100 days of the current financial year, while continuing to expand rural water conservation works alongside its housing programme.Read more

Mumbai News Desk

16 Jul 2026

• The Comptroller and Auditor General (CAG) has identified multiple instances where the Slum Rehabilitation Authority (SRA) extended undue financial and development benefits to private developers during the implementation of slum rehabilitation schemes in Mumbai, particularly airport-linked projects.
• The audit found irregularities including excess Transferable Development Rights (TDR), additional free-sale built-up area, disproportionate Floor Space Index (FSI) allocation and short recovery of infrastructure charges, resulting in significant financial gains for developers.
• The CAG estimated that excess benefits included INR 187.17 crore through additional free-sale TDR, INR 48.66 crore via excess land TDR and nearly INR 100 crore through excess free-sale entitlement, besides infrastructure charges that were either under-calculated or not recovered.
• The audit has recommended stronger regulatory oversight, stricter compliance with Development Control Regulations (DCR) and improved monitoring of rehabilitation projects to safeguard public interest and ensure transparency in slum redevelopment.Read more

16 Jul 2026

The Delhi government has sought INR 100 crore in financial assistance from the Centre to expedite the implementation of the revised Pradhan Mantri Unauthorised Colonies in Delhi Awas Adhikar Yojana (PM-UDAY), which aims to grant property rights to residents of 1,511 unauthorised colonies across the national capital. Chief Minister Rekha Gupta has written to Union Housing and Urban Affairs Minister Manohar Lal requesting funds for the first phase of the programme during FY27. The proposed allocation will support district-level implementation units, digital land surveys, property verification, land record modernisation and public awareness activities to facilitate faster issuance of ownership documents.Read more

16 Jul 2026

• Haryana's Department of Town and Country Planning (DTCP) has ordered an urgent structural audit of Ramprastha Primera in Gurugram following complaints over the condition and safety of balconies and other structural components.
• The audit comes in the wake of a recent balcony collapse at another Gurugram residential society, prompting authorities to intensify safety inspections of high-rise housing projects across the city.
• The structural assessment will examine balconies, slabs, beams, columns and other critical building elements to identify defects, assess structural stability and recommend necessary repairs or corrective measures.
• The move is part of the state's broader effort to strengthen building safety, preventive maintenance and regulatory oversight, while ensuring the long-term structural integrity of residential developments and restoring residents' confidence.Read more

16 Jul 2026

A new heritage-themed public park has been inaugurated along the eastern bank of the Sabarmati river in Ahmedabad as part of the city's urban renewal initiatives. Developed by the UNM Foundation in partnership with the Ahmedabad Municipal Corporation (AMC), the INR 10 crore project spans 20,000 sq m between Swami Vivekananda Bridge and Nehru Bridge. The park features permanent installations highlighting Ahmedabad's historical and cultural evolution and forms part of the foundation's wider programme to develop and maintain public open spaces across Gujarat. With the addition of the new park, the foundation now manages 12 public parks covering more than 1.5 lakh sq m in Ahmedabad.Read more

16 Jul 2026

I Squared Capital has signed an agreement to invest up to USD 2 billion in digital infrastructure and district cooling assets owned by Saudi Arabia’s Public Investment Fund (PIF). The investment will be split equally between the two sectors, with scope for further expansion into related infrastructure businesses. The move builds on an investment partnership announced last year and supports Saudi Arabia’s efforts to diversify its economy beyond oil. It also follows reports that PIF was exploring the sale of its district cooling assets as part of its broader capital recycling strategy.Read more

16 Jul 2026

Residents across several housing colonies in Bhopal have urged civic authorities to expedite the completion of long-pending infrastructure works, citing inadequate roads, drainage, streetlights, water supply and sewage facilities despite years of occupancy. Homebuyers and resident welfare associations have called on the Bhopal Municipal Corporation (BMC) and the Bhopal Development Authority (BDA) to strengthen oversight of developers, ensure timely delivery of promised civic amenities and establish clear timelines for pending works. The grievances have highlighted the need for better coordination between developers and government agencies to improve urban infrastructure and enhance the quality of life in the city's growing residential neighbourhoods.Read more

16 Jul 2026

Texmaco Infrastructure & Holdings Limited has invested INR 68.8 million in its wholly owned subsidiary, Valley View Landholdings Pvt. Ltd., to strengthen the subsidiary's presence in the real estate sector. The investment was made through a fresh subscription to equity shares, while the company's ownership in the subsidiary remains unchanged at 100%. The transaction has been classified as a related-party deal and was carried out on an arm's-length basis. Valley View Landholdings, incorporated in 2013, is engaged in real estate development and has reported limited revenue in recent financial years.Read more

16 Jul 2026

Navi Mumbai International Airport (NMIA) has started its international operations with Air India Express launching direct flights to Abu Dhabi, marking a key milestone in the airport's expansion. The three-times-a-week service is the first international route from NMIA since domestic operations began late last year. Along with passenger services, the inaugural flight also carried the airport's first international perishable export shipment. The development strengthens aviation connectivity across the Mumbai Metropolitan Region while supporting trade, cargo movement and future international expansion through additional airline partnerships and overseas destinations.Read more

16 Jul 2026

Prime Minister Narendra Modi is scheduled to inaugurate four redeveloped railway stations in Punjab under the Amrit Bharat Station Scheme on 17 July. According to Punjab BJP president Kewal Singh Dhillon, the Prime Minister will inaugurate the upgraded Jalandhar Cantonment Railway Station in person and virtually dedicate the redeveloped stations at S.A.S. Nagar (Mohali), Sri Muktsar Sahib and Sri Anandpur Sahib. The station redevelopment programme has introduced upgraded passenger facilities, improved accessibility, modern concourses and enhanced commuter amenities while retaining the local architectural character of each station. The initiative forms part of the Centre's broader programme to modernise railway infrastructure and improve transport connectivity across the country.Read more

16 Jul 2026

Mercedes-Benz has completed a EUR 1 billion expansion of its manufacturing facility in Kecskemét, Hungary, significantly increasing production capacity as part of its global efficiency and cost optimisation strategy. The upgraded plant will become the company's largest manufacturing site in Europe and its second-largest worldwide. Along with producing the new electric C-Class, the facility will also manufacture the electric GLC and the compact G-Class. The investment strengthens Mercedes-Benz's flexible manufacturing network while reinforcing Hungary's position as a key automotive production base in Europe.Read more

16 Jul 2026

The Supreme Court has dismissed a petition challenging the Coastal Regulation Zone (CRZ) clearance granted for the renovation and expansion of actor Shah Rukh Khan's sea-facing residence, Mannat, in Mumbai's Bandra. The apex court declined to interfere with an earlier order of the National Green Tribunal (NGT), which had upheld the approval granted by the Maharashtra Coastal Zone Management Authority (MCZMA). The petition had questioned the legality of the environmental clearance for the addition of two floors to the property. With the Supreme Court refusing to entertain the appeal, the renovation and expansion project can proceed in accordance with the statutory approvals already granted.Read more

16 Jul 2026

Jaisalmer railway station has been redeveloped at a cost of INR 140 crore under the Amrit Bharat Station Scheme, blending Rajasthan's architectural heritage with modern passenger amenities. The upgraded station features a sandstone-inspired façade, improved circulation areas, lifts, escalators, enhanced waiting lounges, digital facilities and better accessibility. The redevelopment aims to strengthen tourism infrastructure in the desert city while improving the travel experience for passengers. The project reflects Indian Railways' broader effort to modernise stations without compromising their regional identity.Read more

16 Jul 2026

India's latest ranking of the country's most valuable real estate companies shows a year of slower growth, with overall company valuations rising just 2% despite a broader market correction. DLF remained the most valuable real estate company, while Gautam Adani and family topped the real estate rich list for the first time. Hospitality, REITs and professionally managed companies continued to strengthen, reflecting the sector's gradual shift towards institutionalisation even as residential and commercial segments faced pressure.Read more

Mumbai News Desk

16 Jul 2026

• The Brihanmumbai Municipal Corporation (BMC) has demolished an unauthorised school building in Govandi, marking the civic body's first demolition of an illegally constructed educational institution in Mumbai.
• The action followed complaints and inspections that found the school building had been constructed without mandatory civic permissions and in violation of development regulations.
• Civic officials carried out the demolition with police protection after issuing statutory notices and completing the legal process, while ensuring that students were not present during the operation.
• The BMC said the move reflects its stricter stance against illegal constructions, irrespective of the nature of the establishment, and warned that similar action would be taken against other unauthorised structures.Read more

16 Jul 2026

The latest GROHE-HURUN India Real Estate 150 report shows that Adani Properties emerged as one of the biggest gainers in the real estate sector despite a difficult year for the industry. The company's valuation rose by 72 per cent, making Gautam Adani the fourth-richest real estate entrepreneur in India. The report also highlights that most real estate firms witnessed a decline in valuations, while the BSE Realty Index fell sharply. DLF retained the top position, followed by Lodha Developers and IHCL, with only a limited number of companies reporting valuation growth.Read more

16 Jul 2026

Spear REIT has completed the disposal of Hamilton and Chiappini House after fulfilling all transaction requirements, marking another step in its capital recycling strategy. The company said the transaction generated a value uplift of about ZAR 27.25 million, adding nearly 5 cents to its net asset value. The two Cape Town properties had been identified as non-core assets, with the disposal allowing Spear REIT to unlock value and redeploy capital into higher-yielding investment opportunities in the Western Cape. The transaction follows an earlier sale agreement announced in the past few months.Read more