3 minutes ago

Prime Minister Shri Narendra Modi on 5 June 2026 inaugurated, dedicated, and laid the foundation stones for projects worth approximately INR 22,655 crore across Gujarat, Daman, and Lakshadweep, spanning roads, power, healthcare, civil aviation, tourism, and maritime connectivity. In Surat, INR 18,800 crore of projects were unveiled, including Vadodara–Mumbai Expressway packages and a 220-bed ESIC hospital. In Daman, INR 2,970 crore of projects were initiated, anchored by the NAMO Airport terminal, NAMO Hospital, Iconic Bridge, and a NIFT campus. Foundation stones for INR 885 crore of port infrastructure were laid for Lakshadweep.Read more

33 minutes ago

Prism, the parent company of travel technology firm Oyo, has received approval from the Securities and Exchange Board of India (Sebi) to launch its proposed initial public offering (IPO) worth INR 6,650 crore. The company had submitted its draft papers through the confidential filing route late last year and is now preparing to move to the next stage of the listing process. The IPO is expected to value the company between USD 7 billion and USD 8 billion. Prism is also assessing market conditions before finalising its public filing and broader listing timeline.Read more

1 hour ago

• Madhya Pradesh cabinet has approved a SVAMITVA-linked initiative to issue legal land title deeds to rural landholders.
• The scheme will convert drone-surveyed SVAMITVA land records into officially registered ownership documents.
• Beneficiaries will be able to use land as collateral to access bank loans for housing, business, and agriculture.
• The state government will fully bear stamp duty and registration charges for the process.
• A dedicated committee will oversee implementation, monitoring, and inter-department coordination.Read more

1 hour ago

The Maharashtra government and Prasar Bharati have signed an MoU to jointly develop a 150-acre media and entertainment hub on Prasar Bharati-owned land in Malad, Mumbai. The project aims to create an integrated ecosystem for film, television, digital media and related industries. Planned in phases, the development will involve detailed land-use planning, infrastructure creation and statutory approvals. The initiative is intended to support Mumbai’s media and entertainment sector while strengthening infrastructure for content creation and allied activities.Read more

2 hours ago

Home sales across the Greater Toronto Area (GTA) recorded their strongest monthly increase in 10 months during the past month, supported by improving housing affordability and lower borrowing costs. Seasonally adjusted sales rose 10% from the previous month, marking the third consecutive monthly gain. However, home prices continued to face pressure, with the home price index slipping marginally. On an annual basis, sales increased while new listings declined sharply, indicating changing market dynamics. Industry experts expect market activity to strengthen further in the second half of the year, subject to economic and geopolitical developments.Read more

2 hours ago

• Mumbai Monorail has received final safety clearance from the Commissioner of Metro Rail Safety (CMRS) following upgrades to its signalling, communication and operational systems.
• The approval enables the MMRDA to fully implement the modernised infrastructure across the 19.54-km Chembur–Jacob Circle corridor.
• The upgrade programme was undertaken to improve safety, reliability and operational efficiency on the network.
• The clearance marks the completion of a major modernisation initiative for India’s first monorail system.Read more

3 hours ago

France has awarded its prestigious “Palace” distinction to six additional luxury hotels, expanding the country’s highest tier of hospitality recognition to 33 properties. The newly recognised establishments include three hotels in Paris alongside properties in Megève, Cannes and the Champagne region. Introduced in 2010, the designation is reserved for exceptional five-star hotels that meet stringent standards relating to service, location, heritage and guest experience. The recognition is widely regarded as one of the most sought-after accolades in global luxury hospitality.Read more

3 hours ago

Haryana has emerged as the top-performing state in the country in terms of growth in state GST collections for May, registering a 22 per cent year-on-year increase, significantly higher than the national average of 6 per cent. The state reported net SGST collections of INR 4,456 crore, marking an increase of INR 807 crore compared to the same period last year. Haryana has also maintained strong performance in cumulative GST growth during the first two months of FY 2026–27, recording a 40 per cent rise over the corresponding period last year, supported by steady economic activity and tax administration efficiency.Read more

4 hours ago

Growing investment requirements for AI-led data centre development are expected to increase the role of private infrastructure and real estate capital in the coming years, according to Goldman Sachs. The brokerage has raised its capital expenditure forecast for the world’s four largest hyperscale technology companies to USD 5.3 trillion between FY2025 and FY2030. As funding needs rise, companies are expected to access a wider range of public, securitised and private financing channels. Goldman also anticipates stronger growth in private infrastructure assets, supported by increasing demand for data centres, power networks and related digital infrastructure.Read more

4 hours ago

The Delhi government has announced a crackdown on buildings operating without mandatory fire safety clearances following the fatal fire at a hotel in Malviya Nagar that claimed 21 lives. Authorities have directed civic agencies to identify and seal properties lacking fire safety No Objection Certificates (NOCs) and other statutory approvals. The action comes amid growing scrutiny of safety violations after investigations revealed multiple lapses at the affected property, including the absence of fire clearance and unauthorised construction. The enforcement drive will cover hotels, commercial establishments and other high-risk buildings across the capital as authorities seek to strengthen compliance with fire safety regulations and prevent similar incidents.Read more

5 hours ago

• Heavy pre-monsoon showers led to temporary flooding at the Andheri Subway, forcing authorities to suspend traffic movement for a brief period.
• The incident has renewed attention on one of Mumbai’s most flood-prone transport corridors despite ongoing drainage and pumping infrastructure upgrades.
• Civic authorities maintain that flood-mitigation measures have improved response times, but recurring waterlogging continues to challenge mobility during intense rainfall events.Read more

5 hours ago

Godrej Capital is aiming to increase its assets under management (AUM) by over 30% to INR 38,000 crore during the current financial year, while setting a longer-term target of INR 1 lakh crore over the next five years. Alongside expanding its lending business, the company has entered the wealth management segment through the launch of Godrej Wealth. The firm plans to strengthen its presence across India, introduce new lending products, and deepen its affordable housing finance portfolio. The company also intends to explore a public listing after achieving greater scale and demonstrating consistent business performance.Read more

6 hours ago

MHADA will begin handing over 500 redeveloped homes to eligible residents of the Naigaon BDD Chawl project in Mumbai from 6 June. The allotments are part of the Maharashtra government’s redevelopment of the century-old BDD chawls at Naigaon, Worli and N M Joshi Marg. The new apartments replace ageing tenements with larger homes and improved amenities. The handover marks a key milestone in the rehabilitation of thousands of residents under one of Mumbai’s largest public housing redevelopment programmes.Read more

6 hours ago

Kotak Alternate Asset Managers (Kotak Alts) has completed the final close of its 14th real estate fund at nearly USD 1 billion, attracting commitments from a subsidiary of the Abu Dhabi Investment Authority (ADIA), South Korea's National Pension Service (NPS Korea) and other institutional investors. The fund will focus on providing structured financing across residential, commercial and mixed-use real estate projects in India. The milestone underscores sustained global investor confidence in the country's property sector and marks NPS Korea's first investment in India's alternative assets market.Read more

7 hours ago

Spanish real estate company Merlin Properties plans to moderate the growing share of revenue generated by its data centre business to avoid overdependence on a single asset class. The company is progressing with a major investment programme across Spain and Portugal, supported by rising demand for AI infrastructure. While data centres are expected to become a significant contributor to rental income over the next several years, Merlin intends to maintain a diversified portfolio across offices, retail and logistics assets. The company also sees Portugal emerging as a key market for future expansion due to supportive policies for data centre development.Read more

7 hours ago

• MCD intensified action against unauthorised construction across Delhi during 2025.
• Around 4,766 illegal or non-compliant constructions were officially booked by the civic body.
• Authorities issued nearly 3,989 demolition orders under the Delhi Municipal Corporation Act.
• Enforcement actions were carried out on 3,294 properties, including demolitions and sealing drives.
• The drive reflects tighter monitoring of building violations amid rising concerns over structural safety in urban areas.Read more

8 hours ago

A church in Bandra has clarified that its Bandstand-facing property is not for sale after a fake online listing claiming a valuation of around INR 900 crore circulated widely on digital platforms. The listing sparked speculation in Mumbai’s premium coastal real estate market, known for high-value luxury residences and celebrity homes. The institution has categorically denied any intent to sell the land and confirmed that no such transaction has been authorised, calling the listing misleading and unauthorised. The incident has also raised concerns over the growing circulation of unverified property listings on online real estate platformsRead more

8 hours ago

• Rajasthan has amended provisions under its building regulations to align construction approvals with updated fire safety directives issued by the state government.
• The changes mandate greater adherence to relevant Indian Standard (IS) codes covering fire protection, structural safety, water services, sanitation, lightning protection and earthquake-resistant construction.
• Developers, architects and structural engineers will now be required to provide enhanced compliance certifications and undertakings during approval and occupancy processes.Read more

9 hours ago

Tijara & Real Estate Investment Co KSCP has signed an addendum to its existing credit limit agreement, strengthening its financing arrangements with a focus on both debt management and business expansion. The revised facility will be used to restructure existing debt worth 4.1 million Kuwaiti dinars while also providing funding for the company’s real estate activities. The move reflects the company’s efforts to improve its financial position, optimize borrowing costs and secure additional liquidity for ongoing and future property-related operations in Kuwait’s real estate market.Read more

9 hours ago

• The Cabinet Committee on Economic Affairs approved three separate national highway upgradation and construction projects on 3 June 2026, with a combined capital outlay of INR 19,834 crore across Bihar, Telangana, and Odisha.
• The projects cover a total of 494.47 km, spanning the Khagaria–Purnea corridor on NH-31 and NH-231, the Armoor–Mancherial and Jagtial–Karimnagar stretches on NH-63 and NH-563, and the Rameshwar–Paradeep coastal highway.
• All three corridors will be built to 4-lane standards, with design speeds of 100 km per hour, and are expected to collectively reduce travel times, lower vehicle operating costs, and strengthen logistics connectivity across the three states.Read more

10 hours ago

• The Uttarakhand High Court has extended its interim stay on demolition drives affecting private properties in Haldwani linked to a road widening and urban beautification project.
• The court has also continued protection against demolition of slum settlements in Dehradun amid concerns raised over rehabilitation and due process.
• The matter involves petitions challenging state-led eviction and removal actions undertaken for infrastructure expansion and civic redevelopment works.
• The hearings have brought into focus the balance between urban infrastructure development and safeguarding housing rights of affected residents.Read more

10 hours ago

Bundelkhand Industrial Development Authority (BIDA), a Uttar Pradesh government body headquartered in Jhansi, issued a Request for Proposal in April 2025 to select a consultant for technical and financial feasibility studies and preparation of detailed project reports for the Activation Area of its Master Plan 2045. The assignment spans 12 infrastructure segments including a 38-kilometre greenfield expressway, power transmission, water supply, sewage treatment, and ICT systems. Eligible bidders must demonstrate a minimum average annual turnover of INR 75 crore, with the 12-month contract open to consortia of up to three firms.Read more

11 hours ago

• Welspun One plans to lease over 10 million sq ft of warehousing and industrial space across India during the next three years.
• The company is expanding its logistics and industrial real estate portfolio amid sustained demand from manufacturing, e-commerce, third-party logistics and retail occupiers.
• The planned leasing is expected to come from assets being developed under the firm's investment platforms across multiple logistics markets.
• The company remains focused on scaling its portfolio through institutional capital, development activity and long-term tenant partnerships.Read more

11 hours ago

• Lucknow Development Authority has reopened bookings for premium flats in its Basant Kunj housing project after closing earlier registrations.
• The scheme offers 3 BHK and 3 BHK with servant quarter units under a lottery-based allotment system.
• Around 364 flats are part of the Park View Apartments project, spread across four towers with up to 20 floors.
• Prices are fixed at about INR 74.59 lakh for 3 BHK and INR 94.92 lakh for larger units.
• Payments are structured with instalments and regulated under UP RERA guidelines.Read more

12 hours ago

A special committee of the Jharkhand Assembly has examined concerns related to mining activities and overburden dumping on private, government, and forest lands in Dhanbad district. The panel chairperson stated that Bharat Coking Coal Limited (BCCL) has paid INR 200 crore to the state for using government land for mining purposes. The committee also noted that Central Coalfields Limited and Eastern Coalfields Limited have acknowledged similar usage and are expected to contribute over INR 1,000 crore in revenue. The panel is also focused on ensuring fair compensation to landholders affected by mining operations.Read more

12 hours ago

The Chandigarh Municipal Corporation has collected a record INR 61 crore in property tax during its annual rebate window, marking the highest-ever revenue generated in this period. The strong collection was driven by timely payments from residential and commercial property owners who availed rebate benefits offered under the city’s tax scheme. The surge reflects improved compliance and efficient tax recovery during the April–May rebate cycle, which is a key revenue mobilisation period for the civic body ahead of penalties coming into effect after the deadline.Read more

13 hours ago

DTDC Express has introduced a self-onboarding digital platform designed to simplify and speed up logistics registration for businesses. The system allows companies to complete KYC, register, and start shipping within 10 minutes without manual intervention. Launched earlier this week, the platform targets the growing MSME and D2C segments, which require faster and more efficient logistics solutions. The initiative aims to reduce traditional onboarding delays caused by documentation and operational dependencies. With strong early adoption, the platform has already attracted over 22,000 registrations and onboarded more than 5,000 businesses across multiple regions in India.Read more

13 hours ago

• The Mumbai–Ahmedabad Bullet Train Project has achieved a breakthrough in its third mountain tunnel, a 417-metre-long structure located in Palghar district, Maharashtra.
• The milestone marks the completion of all three mountain tunnels between the upcoming Vapi and Boisar Bullet Train stations, a key section of the high-speed rail corridor.
• With three mountain tunnels excavated within the last five months, construction activity is accelerating across one of the project’s most technically challenging stretches.Read more

14 hours ago

Residents’ welfare associations (RWAs) across Delhi have called for comprehensive fire safety standard operating procedures (SOPs) for residential buildings following a series of fatal fire incidents in the capital. The demand comes after recent tragedies in Vivek Vihar, Palam and Hauz Khas highlighted concerns over inadequate fire preparedness, obstructed escape routes, electrical safety lapses and the absence of uniform guidelines for residential properties. Resident groups have urged authorities to introduce clear protocols covering emergency evacuation, building maintenance, fire audits and compliance monitoring. The issue has gained prominence as rising temperatures and increased use of electrical appliances have heightened concerns about fire risks in homes and apartment complexes across the city.Read more

14 hours ago

China’s prolonged housing market downturn is now affecting property management companies, with falling fee collections putting pressure on revenues and operations. Many homeowners are delaying or refusing payments due to weak economic conditions, declining home values and dissatisfaction with service charges. At the same time, financially stressed developers are struggling to pay maintenance fees for unsold housing inventory. As collection rates fall, several management firms are exiting residential projects, creating concerns over deteriorating services, declining property values and growing pressure on local governments to step in and maintain basic community infrastructure.Read more

15 hours ago

Reliance Industries subsidiary Model Economic Township Ltd (METL) has entered into two memorandums of understanding with the Government of Haryana, committing a combined investment of INR 8,646 crore for its integrated township project in Jhajjar. The agreements, announced during the launch of Haryana’s Make in Haryana Industrial Policy 2026, include investments from companies operating within the 8,250-acre Reliance MET City. The initiative is expected to generate over 33,000 jobs and spans multiple manufacturing sectors including automotive, electronics and medical devicesRead more

16 hours ago

• Sebi has proposed amendments to the net distributable cash flow (NDCF) framework applicable to Infrastructure Investment Trusts (InvITs) operating road assets.
• The proposal seeks to address the treatment of large maintenance expenditures that are periodically incurred during the lifecycle of highway projects.
• Road-sector InvITs may be allowed to adjust certain debt-funded maintenance costs while calculating distributable cash flows, subject to investor approval and disclosure requirements.
• The market regulator has invited stakeholder feedback before finalising the proposed changes.Read more

17 hours ago

• The Securities and Exchange Board of India (Sebi) has cancelled the registrations of five Alternative Investment Funds (AIFs) for failing to comply with mandatory reporting requirements.
• The affected entities are Exponential Innovation Fund, Florintree India Flexi Advantage Trust, Prime Realty Capital, Rudrabhishek Infrastructure Trust and Victory Investment Fund.
• The funds did not submit Quarterly Activity Reports (QARs) for all four quarters of 2025 despite regulatory obligations.
• Sebi initiated summary proceedings and issued show-cause notices in April 2026 after identifying repeated non-compliance.
• The regulator concluded that the violations were established and ordered immediate cancellation of registrations under applicable regulations.Read more

18 hours ago

Northern Railway’s Jammu Division reported earnings of INR 66.50 lakh through a special ticket-checking drive carried out in May 2026. The drive focused on identifying ticketless and irregular travel across stations, trains, and platforms within the division’s jurisdiction. A total of 12,693 cases were registered during the period, reflecting strict enforcement against violations. Officials stated that the initiative was aimed not only at revenue protection but also at discouraging unauthorised travel and improving discipline among passengers. Similar enforcement drives are expected to continue in the coming period to maintain compliance.Read more

19 hours ago

Godrej Industries Group has entered the wealth management sector through a new platform aimed at serving high-net-worth and ultra-high-net-worth individuals across India. The company has set a target of managing INR 1 lakh crore in assets under management (AUM) within five years and plans to build a nationwide advisory network. The move marks the conglomerate’s diversification into financial services, leveraging the Godrej brand to tap rising demand for professional wealth management solutions amid growing household financial assets.Read more

20 hours ago

• Odisha has initiated time-bound measures to improve highway safety following directions issued by the Supreme Court on road accident prevention.
• State agencies have been directed to address illegal parking, roadside encroachments and other hazards affecting traffic movement on national highways.
• The exercise involves coordinated action by transport, police, highway and local authorities to improve enforcement and compliance.
• The measures form part of a broader effort to reduce accidents and strengthen safety infrastructure across Odisha's highway network.Read more

21 hours ago

• The Andhra Pradesh government has sanctioned an AI-enabled traffic management initiative, Project SARTHI, for Visakhapatnam at an estimated cost of INR 99.19 crore.
• The project aims to improve traffic regulation, road safety and incident response through advanced surveillance and intelligent transport technologies.
• The system will integrate artificial intelligence, automated traffic monitoring, command-and-control infrastructure and real-time enforcement mechanisms across the city.
• The initiative forms part of broader efforts to strengthen urban mobility infrastructure in Visakhapatnam amid rising traffic volumes and growing urbanisation.Read more

22 hours ago

NHPC has commenced construction activities for the 240 MW Uri-I Stage-II Hydroelectric Project in Uri, Baramulla district, Jammu & Kashmir. The project, approved at an investment of INR 2,708.95 crore, is being developed on the Jhelum River as an extension of the existing Uri-I scheme. Work began with the first blast for the head race tunnel in the past week. Designed as a run-of-the-river project, it will comprise two 120 MW units and is expected to generate around 932 million units of electricity annually upon completion.Read more

23 hours ago

The National Green Tribunal's Eastern Zone Bench, Kolkata, on 26 May 2026 admitted a petition alleging the illegal operation of a brick kiln and unauthorised clay mining in Village Ambakuduchi, Tahasil Basta, District Balasore, Odisha. The applicant, Rajanikanta Jena, contends the unit operates without environmental clearance or pollution board consent, causing serious harm to local residents. The bench has constituted a joint committee comprising the CPCB, OSPCB, and the District Magistrate, Balasore, to inspect the site and submit a report within one month. The matter is next listed on 23 July 2026.Read more

04 Jun 2026

Rashmi Saluja, former executive chairperson of Religare Enterprises Ltd, along with four others, has been summoned by a special PMLA court in connection with a money laundering case linked to Employee Stock Option Plans. The Enforcement Directorate’s complaint alleges a conspiracy involving bribery and filing of a bogus FIR to block the Burman family from taking control of the company. The court observed that the offence is serious, involving public fund losses and financial instability concerns. All accused have been directed to appear on June 11, while the alleged proceeds of crime are estimated at INR 179.54 crore.Read more

04 Jun 2026

A cyclonic storm that hit the desert region recently caused partial damage at the Bhadla Solar Park in Phalodi district, a 2.25 GW solar energy hub spread across around 56 sq km. The facility hosts over 10 million solar panels installed by multiple private and public companies. While authorities confirmed that only one plant faced disruption, local accounts suggest wider impact across nearby villages. Damage includes uprooted solar panels and affected electricity infrastructure. Restoration work is currently in progress as officials assess the full extent of losses and system disruption.Read more

04 Jun 2026

The Lakshadweep Administration has initiated the acquisition of 121,359 square metres, or around 30 acres, of private land on Agatti Island for beachfront facilities and a peripheral beach road. The proposal, based on a Social Impact Assessment conducted by SIACS, covers land on both the eastern and western coasts of the island. Given Agatti’s total area of 3.84 square kilometres, the plan has sparked concerns among residents and environmental groups over its potential impact on ecosystems and livelihoods.Read more

04 Jun 2026

• The National Investigation Agency (NIA) has filed chargesheets against 31 individuals in four cases related to alleged obstruction of the Special Intensive Revision (SIR) of electoral rolls in West Bengal's Malda district.
• The accused have been charged over incidents involving road blockades, disruption of official duties and the alleged restraint of judicial officers engaged in the electoral exercise.
• The chargesheets have been submitted before the NIA Special Court in Kolkata following investigations based on digital, technical, documentary and oral evidence.
• The agency has stated that investigations remain ongoing to identify additional individuals allegedly involved in the incidents.Read more

04 Jun 2026

• Rajasthan currently has 81 infrastructure projects under implementation with a combined investment of INR 2.72 lakh crore.
• The projects are being monitored through the Project Monitoring Group (PMG) mechanism to address implementation bottlenecks.
• Key sectors include railways, roads, petroleum and natural gas, power, and urban infrastructure.
• The review focused on expediting clearances, resolving pending issues and improving coordination among stakeholders.Read more

04 Jun 2026

Spanish hotel group Melia has decided to stop managing, marketing and providing brand services for 15 hotels in Cuba, citing worsening economic, legal and geopolitical conditions on the island. The company, which has operated in Cuba since 1990, said the decision was driven by factors beyond its control that affected the viability and safety of continuing operations. The move comes as the United States increases pressure on Cuba through stricter sanctions and other measures. Melia noted that most of the affected hotels were already closed or inactive as Cuba's tourism sector continues to face significant challenges.Read more

04 Jun 2026

The long-delayed Kalyan–Badlapur highway expansion project continues to face significant hurdles more than a decade after work began, with key stretches remaining incomplete despite expenditure exceeding INR 100 crore. Land acquisition challenges, pending clearances, legal disputes and unfinished infrastructure have slowed progress on a corridor that serves as a major transport link for the rapidly growing Kalyan-Dombivli-Badlapur region. The delays have contributed to persistent traffic congestion, particularly at bottlenecks and bridge approaches, even as authorities pursue wider plans to improve regional connectivity through new highway infrastructure and road network upgrades.Read more

04 Jun 2026

Mister Hair Clinics, a Bengaluru-headquartered hair and skin care clinic network, has announced an expansion roadmap to increase its footprint from 16 clinics to 100 clinics across India by 2031. The company has opened franchise opportunities to support growth across tier-2 and tier-3 cities, along with selected metro markets. The strategy is anchored in a standardised clinical and operational model, with plans to expand its presence across multiple states while tapping into India’s fast-growing hair restoration and medical aesthetics marketRead more

04 Jun 2026

• Maharashtra has secured USD 2 billion in funding from the World Bank for a large-scale road infrastructure programme.
• The initiative will focus on upgrading state highways and district roads across the state.
• Planned works include road rehabilitation, bridge improvements, maintenance measures and technology-based monitoring systems.
• The programme aims to enhance connectivity, road safety and climate resilience across key transport corridors.
• To be implemented in phases, it will strengthen links between urban centres, industrial clusters and rural regions, making it one of Maharashtra’s largest externally funded road projects.Read more

04 Jun 2026

Mexican real estate investment trust Fibra Mty has completed its acquisition of Fibra Macquarie after securing acceptance from holders of more than 80% of the target company's certificates. The transaction, valued at approximately USD 1.7 billion based on accepted certificates, marks one of the largest consolidation moves in Mexico's REIT sector. Following the announcement, certificates of both entities declined in trading. The acquisition is expected to expand Fibra Mty's consolidated asset base to nearly USD 6.5 billion and pave the way for operational integration and greater scale in the country's commercial real estate market.Read more

04 Jun 2026

The Enforcement Directorate (ED) has arrested four promoters and directors of Earth Infrastructures Ltd in a money laundering investigation linked to an alleged INR 2,004 crore homebuyer fraud. The case involves over 19,425 homebuyers and investors who allegedly invested in projects that remained incomplete or undelivered. The agency has alleged diversion of around INR 467 crore through related entities. The investigation stems from multiple Delhi Police EOW FIRs and an SFIO complaint against the company’s promoters and directors.Read more