14 minutes ago

Housing sales across eight major Indian cities declined 6% year-on-year to 91,729 units in the April-June quarter of 2026, according to PropTiger’s latest Real Insight report. Sales fell in six markets, including Mumbai Metropolitan Region, Delhi-NCR, Bengaluru, Pune, Kolkata and Ahmedabad, while Chennai and Hyderabad recorded growth. PropTiger attributed the decline to cautious buyer sentiment amid global uncertainties, including the West Asia conflict and concerns over the potential impact of artificial intelligence on jobs. At the same time, new housing supply increased 6% to 89,161 units during the quarter.Read more

44 minutes ago

Starbucks India is preparing to accelerate store additions after spending the past 18–24 months reassessing its business model amid weaker discretionary consumption. Tata Consumer Products MD and CEO Sunil D’Souza said the company has recorded four consecutive quarters of same-store sales growth, indicating improving performance. Tata Starbucks, the 50:50 joint venture between Tata Consumer Products and Starbucks Corporation, operated 498 stores across about 80 Indian cities at the end of the June quarter. The renewed strategy will focus on adding outlets and increasing store density in existing markets, where the company sees operating efficiencies once a city has more than five stores. The business is targeting longer-term expansion in India.Read more

1 hour ago

Defence Minister Rajnath Singh has laid the foundation stone for five brownfield expansion projects of Garden Reach Shipbuilders and Engineers (GRSE) and Yantra India Limited (YIL) in West Bengal, involving nearly INR 3,500 crore. The projects span shipbuilding and repair facilities at Kidderpore, Shalimar and Raichak, along with advanced metallurgical facilities at Ishapore. The investments are aimed at increasing defence production capacity, strengthening domestic supply chains and creating employment opportunities. The projects are also expected to support ancillary industries, particularly MSMEs, while strengthening West Bengal’s industrial ecosystem and India’s ambitions in shipbuilding and defence manufacturing.Read more

1 hour ago

NICMAR University, Pune, is hosting the 10th International Conference on Construction, Real Estate, Infrastructure and Project Management (ICCRIP 2026) at its Baner campus. The two-day conference brings together industry leaders, academicians, researchers, practitioners and other experts to discuss issues shaping India’s built environment. The first day focused on sustainable urban development, institutional capacity and effective project delivery, with discussions highlighting the need to connect policy with execution and strengthen collaboration between academia, industry and policymakers. The conference also includes research papers, case studies, a doctoral colloquium, hackathon, workshops and industry-focused sessions.Read more

1 hour ago

The Supreme Court has provided relief to residents of twin residential towers in South Mumbai by restoring restrictions on construction activity by the developer. The order follows concerns raised by residents over the impact of ongoing construction in the densely developed South Mumbai locality. By reinstating the curbs, the apex court has revived restrictions that had previously been imposed on the builder. The case highlights continuing legal disputes surrounding construction activity in established residential neighbourhoods, where development work can raise concerns relating to residents’ living conditions and the impact of adjoining construction.Read more

2 hours ago

India’s residential real estate market is seeing a shift towards premium housing, larger living spaces and lifestyle-oriented developments. While apartments continue to account for the largest share of housing transactions in major metropolitan markets, plotted developments are gaining attention for their land ownership and potential capital appreciation. Independent villas remain concentrated in the luxury segment, while managed and branded residences are emerging as an option for buyers seeking rental income and professional property management. The performance of each format therefore varies depending on whether the priority is transaction volume, appreciation, lifestyle, rental yield or convenience.Read more

2 hours ago

Pride Hotels is planning to launch its initial public offering (IPO) by December, with the proposed issue expected to be valued at around INR 1,000 crore. The hospitality chain is pursuing an expansion strategy focused on leisure destinations, wedding and corporate events, and pilgrimage locations. Chief Executive Officer Satyen Jain said the company’s rapid addition of properties has been a key component of its growth strategy. Pride Hotels has opened nine hotels over the past 12 months, including its recently launched property in Indore. The proposed IPO comes as the hotel operator continues to expand its portfolio across multiple hospitality segments and markets, with the company seeking to support its growth through a broader presence across leisure, events and pilgrimage-led destinations.Read more

Delhi News Desk

2 hours ago

Delhi’s Public Works Department is developing a skywalk-cum-foot overbridge at Madhuban Chowk on the Outer Ring Road, with about 60% of the work completed and the facility targeted to be ready by November 30, 2026. The INR 9.62 crore project is intended to provide grade-separated pedestrian connectivity between Pitampura Metro Station, Madhuban Chowk Metro Station and Rohini District Court. It will also facilitate movement between the Red and Magenta Metro lines while reducing the need for pedestrians to cross the busy road junction at ground level.Read more

3 hours ago

A 5.25-acre land parcel in Hyderabad’s Raidurg area has fetched a record INR 264 crore per acre in an e-auction conducted by the Telangana Industrial Infrastructure Corporation (TGIIC). The Plot P1 parcel in Survey No. 83/1, located in the Knowledge City layout at Raidurg Panmaktha, generated around INR 1,386 crore. The winning bid was 50.9% above the reserve price of INR 175 crore per acre and surpassed the previous record of INR 237 crore per acre achieved in the same corridor earlier this year.Read more

3 hours ago

The Reserve Bank of India (RBI) has imposed monetary penalties on Shri Ram Finance Corporation and Progfin for non-compliance with certain regulatory provisions and directions. Shri Ram Finance has been fined INR 8.10 lakh, while Progfin has been penalised INR 2.70 lakh. The RBI said Shri Ram Finance failed to obtain prior written approval before appointing a director, resulting in a change in management, and also did not have a required customer risk categorisation system. It also failed to upload certain KYC records to the Central KYC Records Registry within the prescribed timeline. Progfin was penalised for not conducting periodic reviews of customer risk categorisation at least once every six months.Read more

4 hours ago

Sri Lankan tea major Dilmah is investing USD 1 million in India to establish a premium tea business with luxury hospitality as its first major market. Over the past 14 months, the company has developed Thambapanni, an India-specific collection made with tea, herbs and spices sourced from 26 Indian growers and packed locally. Dilmah plans to work with luxury hotels and hospitality operators before expanding the brand into direct-to-consumer, quick-commerce and e-commerce channels. The company also plans to introduce Dilmah Urban Estate tea lounges as part of its longer-term retail strategy. A new manufacturing plant in Coimbatore is expected to begin supporting exports from 2028. Dilmah, which operates in 108 countries, aims to make India one of its top 10 global markets within the next decade.Read more

4 hours ago

Bengaluru’s 58-km Blue Line, connecting Central Silk Board with Kempegowda International Airport (KIA), is expected to become fully operational by March 2028, with different sections scheduled to open in phases from 2027. The Central Silk Board-KR Pura section is targeted for commercial operations by mid-2027, while the Hebbal-KIA section is expected to be ready by September 2027. The remaining KR Pura-Hebbal section is likely to be completed between December 2027 and March 2028. Construction complexities along the Outer Ring Road and provisions for future integration with the proposed Orange Line have affected the overall timeline.Read more

5 hours ago

Orris Infrastructure managing director Amit Gupta has been arrested by Mumbai Police in connection with a case filed by Godrej Properties over alleged forgery, cheating, criminal breach of trust and criminal conspiracy. The case relates to the Godrej Air project in Sector 85, Gurugram, where Godrej Properties and Orris Infrastructure were partners. Police arrested Gupta in Amritsar and he has been remanded to police custody until August 27. The complaint alleges that statutory records of the project’s LLP were changed without authorisation and that Godrej Properties’ 37.5% interest in the partnership was allegedly transferred.Read more

5 hours ago

The National Highways Authority of India (NHAI) is expected to take over the 110-km NH-766 stretch between Vellimadukunnu in Kozhikode and Muthanga in Wayanad by October 2026, paving the way for detailed planning of its proposed four-laning. NHAI is preparing to establish a site office at Kalpetta to oversee the corridor, while the Detailed Project Report will be prepared under its Kozhikode project office. The proposed development covers the full Vellimadukunnu-Muthanga corridor and includes consideration of alternative routes and bypasses to address congestion and improve connectivity through the region.Read more

Pune News Desk

6 hours ago

State Bank of India (SBI) has acquired a commercial property at Kharadi Knowledge Park in Pune for INR 414 crore, comprising leasehold rights over an 8,581 sq m land parcel and outright ownership of a 15-storey commercial building. The property, acquired from Siddhivinayak Enterprises, includes around 1.84 lakh sq ft of built-up space and 200 car parking spaces. The transaction was registered on 14 August 2026 through a deed of assignment and attracted INR 28.98 crore in stamp duty. The acquisition is intended to provide premises for SBI’s Local Head Office for its Maharashtra Circle. The bank had invited bids in 2023 for ready-built premises in Kharadi, Viman Nagar or Baner for this purpose.Read more

6 hours ago

The Union government has allowed Nagaland to proceed with land acquisition under the Nagaland Land (Requisition and Acquisition) Act, 1965, for widening National Highway-202. The decision removes a key legal hurdle that had delayed the proposed upgrade of the existing single-lane highway to a two-lane road. The issue had centred on whether land should be acquired under the National Highways Act, 1956, or the state’s 1965 law, with Nagaland citing constitutional safeguards under Article 371(A). The Centre has also accepted the existing Detailed Project Report for NH-202 with technical modifications.Read more

7 hours ago

The Andhra Pradesh Capital Region Development Authority (APCRDA) has allotted 41 returnable plots to 23 farmers from Undavalli village who contributed their land for the construction of the Seed Access Road in Amaravati. The allotment was carried out through an online e-lottery at the APCRDA office in Rayapudi, with a trial run conducted before the live draw. The process resulted in the allotment of 26 residential and 15 commercial plots. Provisional certificates were handed over to the beneficiaries, while officials advised them to complete registration and said GIS and survey teams would help identify their plots.Read more

7 hours ago

The National Highways Authority of India (NHAI) and the National Road Safety Board discussed measures to strengthen road safety governance, improve safety standards on National Highways and reduce accidents. The meeting reviewed the existing road safety management system, including highway engineering, operations, safety audits and black spot management. The two institutions also examined current institutional arrangements and identified areas where a safe system approach could further improve road safety. The proposed approach covers risk identification, highway engineering and operations, commercial vehicle safety, emergency response, digital monitoring, governance and a long-term road safety strategy.Read more

8 hours ago

The National Green Tribunal has disposed of a plea seeking to classify 95 acres of land earmarked for the redevelopment of Bijwasan railway station in southwest Delhi as deemed forest. The tribunal said the Supreme Court had already settled the legal status of the land and held that its subsequent vegetation growth could not change the land-use position established under the statutory Master Plan. The Supreme Court had earlier found that the land was acquired as agricultural land and was not recorded or declared as forest when the Master Plan came into force. The NGT has now applied that ruling to the 95-acre parcel.Read more

8 hours ago

The National Mission for Clean Ganga (NMCG) has signed concession agreements for two sewage treatment plant projects in Uttar Pradesh, covering Varanasi and Pt Deen Dayal Upadhyay Nagar. The projects include a 60 million litres per day (MLD) STP at Lohta in Varanasi and a 45 MLD STP at Pt Deen Dayal Upadhyay Nagar. The plants will intercept untreated sewage entering the Varuna River and the Ganga through local drains. Both projects will be developed under the Hybrid Annuity-based Public-Private Partnership model, with Uttar Pradesh Jal Nigam (Rural) as the executing agency.Read more

9 hours ago

The Delhi government has announced a complete ban on construction activities across the city from December 10 to January 20 as part of its measures to control winter air pollution. Chief Minister Rekha Gupta said construction sites larger than 500 square metres will be monitored through the government’s Dust Portal and AI-enabled cameras. The move follows concerns that construction continued at some sites during the previous winter despite restrictions under the Graded Response Action Plan. The government will use real-time monitoring, alerts and enforcement action to identify violations during the ban period.Read more

9 hours ago

The Chhattisgarh government has signed two memoranda of understanding with the Bhaskaracharya Institute for Space Applications and Geoinformatics (BISAG-N) and National Logistics Data Services Ltd (NLDSL) to expand the use of geospatial technology and integrated logistics data under the PM GatiShakti framework. The agreements are aimed at improving infrastructure planning, identifying connectivity gaps and supporting investment. More than 35 state departments are already onboarded on the platform, with 41 mandatory and over 600 additional data layers mapped. The state has also developed 45 use cases and 30 tools for infrastructure and development planning.Read more

10 hours ago

Sprite and the Indian Railway Catering and Tourism Corporation (IRCTC) have introduced the Sprite Tejas Express on the Lucknow-New Delhi-Lucknow route as part of a six-month branding partnership. The train will feature Sprite branding across five coaches and will carry the brand name at originating and en route stations on both legs of the journey. Sprite will also be included in the onboard passenger food bundle, while sampling and merchandise will be offered to travellers. The partnership also includes sustainability initiatives using recycled plastic and PET bottles, along with a collaboration with Wow! Momo.Read more

10 hours ago

ICICI Bank has doubled its approved overseas borrowing limit to USD 5 billion, allowing it to raise funds through bonds, notes and offshore Certificates of Deposit. The revised limit comes as Indian banks increase overseas fundraising and take advantage of international debt markets. The bank had previously set the borrowing ceiling at USD 2.5 billion. ICICI Bank has also been active in the dollar debt market, raising USD 2.05 billion over the past month. Its strong first-quarter financial performance, including higher profits, loan growth and deposits, provides the backdrop to its increased funding capacity.Read more

11 hours ago

Singapore-based SATS Ltd is looking to expand its logistics presence in India by developing integrated multimodal facilities to support the country’s manufacturing sector. The company, which already operates across 14 Indian cities, has committed investments of up to INR 4,500 crore at Noida International Airport and is planning multimodal transhipment centres across major metropolitan cities. SATS Gateway Services for Asia Pacific CEO Bob Chi said the company remains positive about India’s economic growth and wants to contribute to the country’s developing transhipment network by improving links between airports and major ports.Read more

11 hours ago

The Andhra Pradesh Capital Region Development Authority (APCRDA) held a Grama Sabha in Nowluru as part of the ongoing planning exercise for Amaravati. The meeting focused on the proposed Village Circulation Plan and Village Integration Plan, with officials explaining the planned road network, connectivity and integration of existing village roads with roads proposed under Land Pooling Scheme (LPS) zones. Surveys are also being carried out to map the existing road network and its linkages. Residents shared their views and suggestions, which APCRDA said would be examined while preparing the village-level plans.Read more

12 hours ago

HDFC Bank has raised USD 1.75 billion through senior unsecured bonds issued through its GIFT City branch to support the bank’s business growth. The fundraising comprises USD 500 million of three-year notes carrying a 5.159% coupon and USD 1.25 billion of five-year notes with a 5.4% coupon. The bonds will be listed on India International Exchange (India INX) and NSE International Exchange (NSE-IX). The transaction provides the private sector lender with additional overseas funding capacity as it expands its banking operationsRead more

12 hours ago

India’s building materials, architecture, interior design and furniture sectors are coming together at Yashobhoomi in New Delhi for a four-day industry convergence featuring MATECIA 2026, THE WADE ASIA 2026, India Furniture Conclave (IFC) and the Material Technology Conference (MTC). The platforms bring manufacturers, architects, designers, developers, furniture brands, technology companies and other industry participants together across the built environment value chain. The event is showcasing materials, furniture, technology and design solutions while also hosting jury presentations, design installations, knowledge sessions, industry discussions, networking and business interactions.Read more

13 hours ago

The Centre has approved the expansion of Rajiv Gandhi National Aviation University (RGNAU) at Fursatganj in Amethi over an additional 500 acres and has asked the Uttar Pradesh government to make the land available. The university plans to develop a centre of excellence with advanced laboratories, research centres and other infrastructure for aviation, aerospace and allied fields. A land survey is underway, and the state government is expected to make the required land available soon. RGNAU is also targeting an increase in student strength from the current 595 to 17,000 by 2033.Read more

13 hours ago

India’s first large-scale biopolymer plant, being developed at an investment of INR 3,080 crore in Lakhimpur Kheri district of Uttar Pradesh, is likely to commence operations in October 2026. District Magistrate Anjani Kumar Singh reviewed construction progress at the facility on August 20 and examined its proposed production process. The plant, being developed at the Kumbhi sugar unit of Balrampur Chini Mills in Gola Gokarannath, will convert locally grown sugarcane into sugar and subsequently into Polylactic Acid (PLA)-based bioplastic on the same campus. The facility will also incorporate a Zero Liquid Discharge system.Read more

14 hours ago

The Andhra Pradesh Capital Region Development Authority (APCRDA) held a Grama Sabha in Yerrabalem as part of the planning work for Amaravati’s Village Circulation Plan and Village Integration Plan. The meeting focused on the proposed road network, connectivity and integration of existing village roads with the planned infrastructure. Officials explained how the road network would be aligned with Land Pooling Scheme (LPS) zones and outlined infrastructure requirements for the village’s future growth. Surveys are also being conducted to document existing roads and their connections. Residents shared suggestions, which APCRDA said would be considered in the planning process.Read more

24 Aug 2026

The Securities and Exchange Board of India (Sebi) has cancelled the registration certificates of 15 investment advisers after they failed to pay the mandatory renewal fees required to keep their registrations valid. The regulator said the advisers did not pay the fees within the prescribed period despite being given an opportunity to explain the non-compliance. Sebi had issued notices to the entities seeking their responses, but no replies were received within the stipulated time. The cancellations take immediate effect, while the entities remain responsible for obligations arising from their earlier activities as registered investment advisers.Read more

24 Aug 2026

Utility-scale solar project costs in India could increase by around 20% over the next six to eight months, according to ICRA, as developers face higher costs for domestically sourced solar cells and key raw materials. Domestic cells currently carry a premium of about INR 5–6 per watt over imported cells, while higher freight and supply-chain costs linked to the West Asia conflict are adding pressure. The Centre has extended a limited exemption from ALMM List-II requirements for solar cells to net-metering and open-access renewable projects until December 2026. More than 150 GW of renewable projects were under construction as of June 2026, adding to the importance of equipment and transmission availability.Read more

24 Aug 2026

The Maharashtra Food and Drug Administration (FDA) has suspended the food business licences of the Bombay Presidency Radio Club, a McDonald’s outlet in south Mumbai and 12 other establishments across the state over alleged food safety and hygiene violations. The action followed a special inspection drive covering 89 hotels, restaurants and dhabas, with 71 establishments receiving improvement notices and 13 facing licence suspensions. The inspections found issues including pest infestation, poor sanitation, improper food storage, unsafe food handling and failure to address deficiencies pointed out during earlier inspections.Read more

24 Aug 2026

Empower India has announced its entry into India’s growing data centre market, which is projected to exceed USD 22 billion by 2030. The company plans to offer sustainable digital infrastructure solutions by combining its existing capabilities in IT infrastructure integration and data centre management with the renewable energy expertise of its subsidiary, Empower Energy Private Limited. Its proposed offerings will include customised Green Data Server and Data Centre solutions, energy-efficient digital operations and intelligent infrastructure management. The move comes as demand for data centre capacity continues to rise with the expansion of AI, cloud computing, enterprise digitisation and data localisation.Read more

24 Aug 2026

Air freight forwarding and logistics company Skyways Air Services has raised INR 174.5 crore from anchor investors ahead of its initial public offering (IPO), which is scheduled to open for subscription shortly. The company allotted 1.26 crore equity shares to anchor investors at INR 138 apiece, the upper end of its IPO price band. The anchor round saw participation from institutional investors including Nomura Singapore, Citi Group Global Markets Mauritius, Holani Venture Capital Fund-I, IndusInd General Insurance, ASAS Global Fund, Bank of India Mutual Fund and Taurus Mutual Fund.Read more

24 Aug 2026

Author, philanthropist and Rajya Sabha MP Sudha Murty visited the ancient Barabar Caves in Bihar's Jehanabad district on Sunday and called for their inclusion in the UNESCO World Heritage list. Murty, who arrived in Patna a day earlier after more than two decades, praised the rock-cut caves' construction techniques, polished interiors and acoustic properties as evidence of advanced ancient Indian engineering and craftsmanship. She was accompanied by district officials during the visit.Read more

24 Aug 2026

The Central Board of Directors of the Reserve Bank of India (RBI) reviewed the current economic situation and the challenges facing the global and domestic economies at its latest meeting in Chennai. The discussion covered risks to the economic outlook along with the central bank’s operational areas. The Board also reviewed the functioning of its various committees and the RBI Ombudsman Scheme. The meeting was chaired by RBI Governor Sanjay Malhotra and attended by the central bank’s Deputy Governors and other directors. The review comes as policymakers continue to assess changing economic conditions and financial sector developments.Read more

24 Aug 2026

Thane has 103 plots earmarked for public amenities, including gardens, playgrounds and recreational facilities, but only 39 are currently available for public use, according to data compiled from civic records and documents obtained under the Right to Information Act. Around 60 reserved plots have not yet been acquired by the Thane Municipal Corporation (TMC), while about 30 are reported to face encroachments. The gap between land reserved in planning documents and land actually accessible to residents highlights a long-standing urban planning challenge. The issue is particularly relevant in densely populated parts of Thane, where accessible neighbourhood-level open spaces remain limited.Read more

24 Aug 2026

Sales bookings of 28 major listed real estate companies declined 21% year-on-year to INR 39,964 crore in the April-June quarter of FY27 from INR 50,900 crore in the same period last year. The decline was mainly linked to lower sales volumes and fewer housing project launches, with some major developers holding back launches amid global economic uncertainty. Housing accounted for most of the bookings. Godrej Properties led the group with sales of INR 8,651 crore, while 19 of the 28 developers reported growth in pre-sales during the quarter.Read more

24 Aug 2026

Successive heatwaves have increased the risk of subsidence across London, with prolonged hot and dry conditions shrinking the clay soil beneath homes and destabilising building foundations. Insurance claims linked to subsidence reached a record level in the latest quarter, with households claiming an average of GBP 20,000 (USD 27,200), 15% more than during the corresponding period in 2025. Victorian and Edwardian homes built directly on upper layers of London clay are particularly exposed, while areas including Westminster, Kensington and Chelsea are among those identified as higher-risk locations. The impact is extending beyond repair costs, with subsidence capable of reducing property values and increasing insurance premiums. Engineering repairs can cost from GBP 20,000 to more than GBP 100,000.Read more

24 Aug 2026

The Karnataka Assembly has passed the Karnataka Apartment (Ownership and Management) Bill, 2026, creating a legal framework for apartment ownership, common areas, resident associations, maintenance and redevelopment. The Bill seeks to replace the two apartment laws enacted in 1972 and address issues that have emerged with the rapid growth of apartment housing. It gives owners rights over their individual apartments as well as their undivided share in land and common facilities. It also provides for dispute resolution through competent authorities and allows redevelopment of ageing buildings with the written consent of at least 75% of apartment owners.Read more

Mumbai News Desk

24 Aug 2026

Singer Shantanu ‘Shaan’ Mukherjee and his wife Radhika Mukherjee have acquired three luxury apartments in Bandra West for a combined INR 47.64 crore, creating a residence spread across approximately one-and-a-half floors of the Palmera project on Turner Road. The transaction was registered on 20 August and includes a combined area of 6,267.87 sq ft and nine car parking spaces. Property registration documents accessed by CRE Matrix showed that each apartment was acquired for INR 15.88 crore, with total stamp duty of INR 2.70 crore. The residence is located on the 18th floor of the 22-storey tower, with two units interconnected and the third remaining independent. The purchase comes as Mumbai’s luxury housing market continues to record high-value transactions.Read more

24 Aug 2026

Kamarajar Port Limited (KPL) has invited bids for development of its second container terminal at an estimated cost of INR 4,288.26 crore under the public-private partnership (PPP) model. The project will be implemented on a Design, Build, Finance, Operate and Transfer (DBFOT) basis, with bids invited from eligible private developers. The tender was issued in August 2026 and the deadline for bid submission is October 30. The proposed terminal is part of KPL’s expansion plans to increase container-handling capacity and strengthen its position in the maritime logistics network serving Chennai and the surrounding industrial region.Read more

24 Aug 2026

Shremoha, a senior independent living platform formed through a partnership between Shrem Group and Emoha, part of Age Care Labs, has been launched with two development partnerships in Pune and Gurugram. The platform has partnered with TRU Realty for Kekarav in Pune and KREEVA for a multigenerational project in Gurugram. Shremoha plans to combine independent living with personalised geriatric care, preventive health and wellness, hospitality and community experiences. Its first developments are aimed at seniors seeking active and socially connected lifestyles, with services designed to adapt as residents’ needs change.Read more

24 Aug 2026

Kanpur Police have arrested realtor and India Real Estate Company director Brijendra Chauhan in connection with an alleged INR 52-lakh property fraud case. Chauhan had reportedly been absconding while police investigated allegations that several people were cheated after being offered attractive real estate deals. Investigators had been searching for him before apprehending him in Kanpur. The case concerns money allegedly taken from victims on the promise of property-related investments and transactions that did not materialise as represented. Police action follows complaints from affected individuals and forms part of the continuing investigation into the alleged financial fraud. Further questioning is expected to establish the full extent of the transactions and identify whether additional victims were involved.Read more

24 Aug 2026

State Bank of India (SBI) has completed a land agreement with the Andhra Pradesh Capital Region Development Authority (APCRDA) for developing a residential complex for its staff in Amaravati. The project will come up on 2.05 acres at Ainavolu and is planned with a built-up area of 4.46 lakh square feet. SBI plans to invest around INR 214 crore in the development. Construction is scheduled to begin in June 2027, with completion targeted for 2028. The project is part of SBI’s wider expansion in Amaravati, where it is also developing a regional office.Read more

24 Aug 2026

Delhi Industries Minister Sardar Manjinder Singh Sirsa visited Amaravati as part of an official tour and reviewed the capital city’s planning, infrastructure projects and development initiatives. During the visit, the delegation went to the APCRDA headquarters at Rayapudi and the Amaravati Integrated Command and Control Centre, where officials presented the city’s master plan through the Digital Twin Platform. The delegation also visited the Government Administrative Department and Head of Department towers under construction. Officials highlighted Amaravati’s planned transport network, green spaces, technology-led development and the use of diagrid structures in the government towers.Read more

24 Aug 2026

Mindspace Business Parks REIT has accepted bids worth INR 5 billion for a bond issue with a maturity of two years and one month, according to bankers involved in the transaction. The bonds carry a coupon of 7.6335%, payable quarterly. The REIT had invited commitment bids during the day and received the full issue size reported by bankers. The issue has been rated AAA by Crisil. Mindspace REIT has continued to access the debt market while funding its commercial property portfolio and ongoing capital expenditure. Its credit ratings have remained at the highest level in recent assessments.Read more

Navi Mumbai News Desk

24 Aug 2026

Mumbai’s airport capacity constraints are accelerating the shift of dedicated cargo operations to Navi Mumbai International Airport (NMIA), as limited availability of ad-hoc slots at Chhatrapati Shivaji Maharaj International Airport coincides with planned infrastructure works. The transition is gaining pace in August, with NMIA targeting a complete shift of dedicated freighter operations from Mumbai by 26 August. The new airport has already received its first international freighter from Hong Kong and is expected to add 13 international cargo services. The shift is also supported by Mumbai airport’s temporary suspension of dedicated freighter operations during airside infrastructure upgrades, prompting carriers to move services to NMIA.Read more