Hyderabad News Desk

13 minutes ago

Cyberabad police have registered a case against Saket Engineers over allegations of mortgage fraud involving villas and flats in Hyderabad’s Kompally area. The complaint states that occupied and already allotted properties were shown as unsold inventory and allegedly mortgaged to secure a loan of around INR 30 crore. The issue surfaced after an online encumbrance certificate check revealed discrepancies in ownership records. Authorities further suspect that multiple villas and over 20 flats may have been similarly included in loan documents, and the matter is now under detailed investigation.Read more

43 minutes ago

Vukile Property Fund has announced plans to raise nearly INR 13.5 billion (about ZAR 2.8 billion) through a new share issue as part of its expansion strategy in Europe. The fundraising will be carried out through an accelerated bookbuild process and the proceeds will mainly be used to acquire three shopping centres in Italy valued at EUR 115 million. The move comes as the South African property group continues to increase its presence in the European retail real estate market, particularly through retail-focused assets in countries such as Spain and Italy.Read more

1 hour ago

• The Supreme Court has declined to entertain a plea seeking directions to the Centre for a time-bound decision on renaming the Navi Mumbai International Airport after Lokneta D B Patil.
• The bench observed that naming an airport falls within the domain of government policy and not judicial intervention, while granting liberty to petitioners to approach the competent authority.
• The petition challenged a previous Bombay High Court order that had dismissed a similar plea linked to the airport naming issue.
• The Maharashtra government had earlier proposed the name ‘Lokneta D B Patil Navi Mumbai International Airport’, though the Centre has not issued any official notification so far.
• The matter remains politically and socially significant in the Mumbai Metropolitan Region, where local organisations and project-affected communities have continued to demand the airport be named after D B Patil.Read more

1 hour ago

• India’s eight core infrastructure industries recorded 1.7 per cent growth in April, according to government data released on May 20.
• The expansion was supported by increased production in steel, cement and electricity sectors, indicating continued activity in construction and industrial demand.
• Core sector growth had stood at 1 per cent in April last year and 1.2 per cent in March 2026.
• Output from coal, crude oil, natural gas, refinery products and fertiliser segments contracted during the month under review.
• The core industries comprise sectors critical to infrastructure and construction activity and collectively influence industrial production and economic growth trends.Read more

2 hours ago

• Omaxe has raised INR 75 crore from investment firm WSB Partners to support two residential plotted developments in Indore and Ujjain, Madhya Pradesh.
• The funding was disclosed through a regulatory filing made by the company in the past week.
• Omaxe said the capital would be used primarily as growth capital, while a portion would also be allocated towards working capital requirements and reserves.
• The investment is linked to the company’s plotted residential projects in the two cities, where demand for organised housing developments has remained active.
• Omaxe currently operates across multiple asset classes and has delivered more than 140 million sq ft of real estate across 31 cities in eight Indian states.Read more

2 hours ago

• Gujarat plans to create over one lakh high-skilled jobs in sectors such as AI, semiconductors, GCCs, robotics and cybersecurity over the next two years.
• Union Home Minister Amit Shah said the state now aims to strengthen its services and technology ecosystem alongside its manufacturing base.
• The announcement was made during the launch of Million Minds Tech City in Ahmedabad, a proposed INR 15,000 crore development by Ganesh Housing.
• Gujarat is preparing dedicated policies to attract global capability centres (GCCs) and technology investments from international companies.
• Ahmedabad is being positioned as a future technology and innovation hub to compete with cities such as Bengaluru, Hyderabad, Pune and Gurugram.Read more

3 hours ago

• Karyan Group has announced plans to invest around INR 900 crore in its first residential development, a luxury housing project named Trevana Residences in Ghaziabad, Uttar Pradesh.
• The project, located along NH-24, will comprise 608 apartments and penthouses with a total saleable area of 16 lakh sq ft.
• Homes in the development will be priced between INR 2 crore and INR 6 crore, with the company targeting estimated revenue of nearly INR 1,500 crore.
• The project is scheduled for completion by 2030, with funding expected through internal accruals and potential bank borrowings for construction requirements.
• The announcement comes amid continued growth in Delhi-NCR’s housing market, where residential sales and new supply both recorded annual increases during the January–March quarter this year.Read more

3 hours ago

Liquidators of Evergrande Group have filed a claim worth 57 billion yuan (USD 8.4 billion) against PwC, alleging negligence in auditing the collapsed Chinese real estate major. The case was presented in a Hong Kong court, where responsibility of PwC International was closely examined. Evergrande, which defaulted in 2021 and entered liquidation in 2024, had liabilities exceeding USD 300 billion. PwC’s Hong Kong and China units have already faced regulatory penalties, while a ruling on PwC International’s liability is expected within three months.Read more

Mumbai News Desk

4 hours ago

Mumbai’s long-term infrastructure pipeline estimated at around INR 1.68 lakh crore is gaining relevance amid the Centre’s continued focus on urban infrastructure investment, industrial corridors and multimodal connectivity projects. Recent policy discussions and central government statements have highlighted the importance of large-scale urban infrastructure spending in supporting economic growth and regional development. Mumbai’s ongoing civic and transport projects, including coastal roads, metro corridors, redevelopment works and mobility infrastructure, reflect broader national priorities centred on integrated urban expansion and capital expenditure-led growth.Read more

4 hours ago

The National Company Law Tribunal’s Amaravati Bench has approved the resolution plan submitted by Capri Global Holdings Pvt Ltd for SevenHills Healthcare Pvt Ltd under the Insolvency and Bankruptcy Code (IBC). The plan, backed by Reliance Strategic Business Ventures Ltd as equity support provider, relates to the resolution of the Mumbai hospital asset of SevenHills Healthcare. The insolvency proceedings, initiated in 2018 following a petition by Axis Bank, became one of India’s longest-running healthcare insolvency cases due to multiple legal disputes involving lenders, the Municipal Corporation of Greater Mumbai (MCGM) and ownership rights over the hospital land. The approval marks the conclusion of a category-wise resolution process undertaken for the company’s healthcare assets in Mumbai and Visakhapatnam.Read more

5 hours ago

MHADA’s cluster redevelopment proposals in SVP Nagar, Bandra Reclamation and Adarsh Nagar are facing opposition from residents and housing societies, which allege that the authority is overriding ongoing self-redevelopment projects and bypassing consent norms. The disputes relate to MHADA’s Construction and Development Agency (C&DA) model, under which private developers are appointed for large-scale redevelopment schemes. Resident groups have approached the Bombay High Court, arguing that the process lacks transparency and affects societies already pursuing independent redevelopment. MHADA has defended the model, stating that cluster redevelopment is necessary to modernise ageing layouts and upgrade infrastructure. The projects together cover 206.49 acres across Mumbai.Read more

5 hours ago

Swedish real estate company Samhallsbyggnadsbolaget i Norden (SBB) has agreed to divest its residential property business and a residential portfolio from SBB Development to Klarabo in a share-based transaction valued at SEK 6.83 billion. The deal includes assets worth SEK 5.86 billion and an additional portfolio valued at SEK 973 million. Payment will be made through Klarabo Class A and Class B shares. The transaction is expected to reduce SBB’s ownership in Sveafastigheter and generate annual savings of around SEK 120 million while ending a costly Morgan Stanley-linked joint venture.Read more

Bangalore News Desk

6 hours ago

Intuit has leased over 6.3 lakh sq ft of office space at Embassy TechVillage on Outer Ring Road, Bengaluru, in a deal valued at around INR 915 crore. The long-term lease, registered in recent weeks, marks one of Bengaluru’s larger office transactions this year. The deal highlights continued demand from multinational technology firms for large Grade A office campuses in established commercial corridors. Outer Ring Road remains among Bengaluru’s most active office micro-markets, driven by technology occupiers and global capability centres expanding operations in the city.Read more

Mumbai News Desk

6 hours ago

• Western Railway’s anti-encroachment drive at Garib Nagar in Bandra East intensified as demolition activity continued for railway expansion and infrastructure works.
• Clashes and protests broke out during the operation after structures, including local religious premises, were affected during the clearance exercise.
• The land is being cleared for proposed fifth and sixth railway lines, station integration works and broader transport upgrades linked to Mumbai’s western rail corridor.Read more

7 hours ago

• Puravankara’s consolidated net profit increased to INR 740.7 crore in FY26 from INR 26.5 crore in the previous financial year.
• Annual sales bookings rose 55% year-on-year to INR 7,407 crore, while quarterly sales touched a record INR 3,547 crore.
• The company delivered 3,747 homes during FY26 and handed over more than 4.25 million sq ft across projects.
• Revenue growth was supported by higher project completions, improved collections and stronger demand in Bengaluru and Mumbai housing markets.
• Puravankara added projects with an estimated development value of INR 15,200 crore through redevelopment deals, land acquisitions and joint development agreements.Read more

7 hours ago

Veris Residential Inc has received 14 stockholder demand letters alleging that the company’s proxy statements contained materially incomplete or misleading information, according to a recent SEC filing. The demands were disclosed as of the past week and relate to concerns raised by shareholders over the adequacy of information shared in company communications. The filing did not specify whether any legal proceedings have been initiated yet. The development comes at a time when listed real estate companies and REITs are facing increased scrutiny from investors regarding governance practices, disclosures, and shareholder transparency.Read more

8 hours ago

The Union Ministry of Ports, Shipping and Waterways is preparing a phased rollout of water metro transport systems across 18 cities in India and has circulated a draft National Water Metro Policy for inter-ministerial consultations. The first phase will cover Srinagar, Patna, Varanasi, Ayodhya and Prayagraj, while Tezpur and Dibrugarh in Assam are planned for the second phase. The initiative follows the operational model of the Kochi Water Metro and aims to develop inland waterways as urban public transport corridors using electric and hybrid ferries. The government said the proposed systems would require lower capital investment compared to conventional transport infrastructure while improving urban mobility, reducing congestion, and enhancing connectivity in cities with navigable waterways and tourism-driven transport demand.Read more

8 hours ago

• India’s GCC workforce is projected to expand to nearly 3.5 million by 2030, creating demand for around 160–200 million sq ft of office space across major business markets.
• Flexible workspaces are expected to account for 65–80 million sq ft, capturing up to 45% of future GCC office demand as companies increasingly adopt managed and asset-light office models.
• Tier-II cities are witnessing rising GCC expansion due to lower rentals, talent availability, reduced operating costs and improving infrastructure connectivity.Read more

9 hours ago

• BMC has floated an INR 22.16 crore tender for mitigation of high-risk traffic black spots across Mumbai through road safety interventions.
• The proposed works include installation of dividers, thermoplastic road markings, signage boards, pavement markers and junction improvement measures.
• The tender was issued by BMC’s Roads and Traffic Department through an open bidding process, with bids scheduled to open on 9 June.
• BMC stated that the project is part of broader efforts to improve road safety infrastructure, traffic circulation and accident prevention across the city.Read more

9 hours ago

DLF’s joint venture with Singapore sovereign wealth fund GIC, DLF Cyber City Developers Ltd (DCCDL), recorded a 16 per cent year-on-year increase in rental income to INR 5,525 crore in FY26, supported by sustained demand for premium office and retail assets across key markets including Gurugram and Chennai. Office rental income rose 17 per cent to INR 4,550 crore, while retail rental earnings increased 11 per cent to INR 975 crore. DCCDL currently operates a commercial portfolio spanning 44.3 million sq ft, largely comprising office properties. The company also reported growth in revenue, EBITDA and profit during the fiscal year. DLF said upcoming office and retail completions are expected to further strengthen its annuity portfolio amid continued expansion by global occupiers and Global Capability Centres (GCCs).Read more

10 hours ago

• China’s new home prices recorded their slowest monthly decline in a year during the past month, supported by improving prices in major cities such as Shanghai and Shenzhen.
• Tier-one cities saw marginal price growth, while smaller tier-two and tier-three cities continued to face falling prices, unsold inventory and weak housing demand.
• Analysts said the property market has still not fully stabilised and may take another one to two years to witness a broader recovery due to oversupply concerns.
• Property investment in China continued to decline sharply, while household loans, including mortgages, contracted significantly, reflecting weak buyer confidence.
• Chinese authorities have introduced buyer incentives and state-backed housing purchase programmes to reduce inventory and support the real estate sector.Read more

10 hours ago

• The Haryana Cabinet has approved a revised project cost of INR 10,266.54 crore for the Gurugram Metro Rail project connecting Millennium City Centre and Cyber City in Gurugram.
• The revised estimate is nearly double the earlier sanctioned cost of INR 5,452.72 crore and includes inflation-linked escalation, GST revisions, additional rolling stock and revised infrastructure requirements.
• The 28.5-km corridor, planned with 27 stations, will also include a 1.8-km spur linking Sector-5 and Gurugram Railway Station to improve multimodal connectivity.
• Haryana has approved supplementary reports for Rapid Metro integration and decided to seek World Bank funding for the project’s full soft loan component following delays in funding confirmation from the European Investment Bank.
• The approvals are intended to accelerate implementation of the long-pending metro corridor in Gurugram, one of the NCR’s largest commercial and residential markets.Read more

11 hours ago

• National Real Estate Company KPSC reported a first-quarter net loss attributable to shareholders of 53.8 million dinars.
• The company posted total operating revenue of 811,568 dinars during the quarter.
• National Real Estate said the higher loss was mainly due to losses from its share of results during the reporting period.
• The company operates across real estate development, investment, hospitality, and property management businesses.
• The results come amid continued pressure on parts of the Gulf real estate and investment market.Read more

11 hours ago

Toll collection has commenced on the 129.7-km Meerut–Budaun stretch of the Ganga Expressway following the completion of trial traffic operations on the corridor. The section is being operated by Meerut Budaun Expressway Limited, a special purpose vehicle associated with IRB Infrastructure Developers Ltd and IRB Infrastructure Trust. The six-lane greenfield corridor forms part of the larger Ganga Expressway project in Uttar Pradesh and is expected to begin revenue generation for the concessionaire. The project, developed at an estimated cost of INR 6,538 crore, was inaugurated in the past month and is aimed at improving regional road connectivity and supporting industrial and economic activity across multiple districts in the state.Read more

12 hours ago

Man Infraconstruction Limited has acquired an ultra-luxury residential development site off Bandstand in Bandra West, Mumbai, strengthening its presence in one of the city’s most premium housing micro-markets. The project, planned under the company’s MS Collection Residences vertical, is expected to have an estimated gross development value (GDV) exceeding INR 1,000 crore. Spread across more than 30,000 sq ft, the sea-view development is currently progressing through the approval stage and has applied for its Intimation of Disapproval (IOD). The acquisition expands MICL Group’s Bandra portfolio to a combined GDV of over INR 2,350 crore and takes the company’s overall real estate portfolio to an estimated INR 18,575 crore.Read more

13 hours ago

• Vijayawada Municipal Corporation (VMC) plans to introduce a QR code-based property identification system across the city.
• Residential and commercial properties will receive unique QR-enabled door numbers linked to digital property records.
• The initiative aims to improve property tax administration, verification processes and accuracy of municipal records.
• Civic officials expect the system to help reduce discrepancies in property data and support better urban governance.
• The move is part of the growing adoption of digital property management systems by municipal bodies across India.Read more

14 hours ago

• GMR Hyderabad International Airport Ltd has commissioned Cargo Terminal 2 at Hyderabad International Airport to address rising domestic and international cargo demand.
• The new facility spans 16,864 sq m and has been designed with an initial annual handling capacity of 50,000 metric tonnes, expandable to 100,000 metric tonnes.
• The terminal includes dedicated import and export processing zones, cold-chain infrastructure for pharmaceutical cargo, temperature-controlled storage and upgraded cargo handling systems.
• The development is aimed at strengthening Hyderabad’s position as a major pharmaceutical and logistics hub while improving cargo turnaround efficiency and regulatory processing timelines.
• The facility forms part of broader infrastructure expansion initiatives being undertaken by the GMR Group at Hyderabad airport and its surrounding aerocity ecosystem.Read more

15 hours ago

The Brihanmumbai Municipal Corporation (BMC) is moving ahead with a citywide smart parking initiative aimed at enabling motorists to digitally reserve parking spaces through a unified mobile and web-based platform. The proposed system will provide real-time parking availability, advance booking and digital payment facilities across municipal and private parking locations. The move comes amid rising vehicle density in Mumbai, where government data indicates nearly 2,300 vehicles per kilometre and over three lakh vehicle registrations during 2025. Industry experts have welcomed the initiative, stating that digital parking management can improve traffic flow and parking efficiency, but emphasised that Mumbai will also require large-scale development of mechanised, vertical and multi-level parking infrastructure to address long-term urban mobility challenges.Read more

16 hours ago

Central Bank of India is set to operationalise its IFSC Banking Unit (IBU) at GIFT City in Gandhinagar in the first week of next month after receiving approvals from the Reserve Bank of India and the International Financial Services Centres Authority. The move is aimed at expanding the bank’s international banking operations and increasing its foreign exchange business. The public sector lender plans to offer foreign currency loans, trade finance and treasury services through the new unit. The bank also said it is well prepared for the Expected Credit Loss (ECL) framework scheduled to come into effect from April 1, 2027, backed by additional provisions and stronger risk monitoring systems.Read more

17 hours ago

• The Uttar Pradesh Cabinet has approved the transfer of land parcels required for the Agra Metro Rail project, enabling further expansion and operational connectivity for the corridor.
• The approval covers the transfer of land from multiple government departments to the Uttar Pradesh Metro Rail Corporation for metro infrastructure development in Agra.
• The decision is linked to ongoing work on the city’s metro network, which is being developed to improve urban mobility and connectivity across key residential, commercial and tourist zones.
• Authorities said the land allocation would support construction activities, station infrastructure and depot-related requirements for the metro project.
• The Agra Metro project forms part of the state government’s broader urban transport strategy focused on reducing congestion and improving public transit infrastructure in major Uttar Pradesh cities.Read more

18 hours ago

The National Highways Authority of India has raised concerns over increasing instances of motorists using tampered or obscured vehicle number plates to avoid toll payments at newly introduced barrier-less toll plazas. The issue has emerged at the camera-based Multi-Lane Free Flow (MLFF) toll system operational on Delhi’s Urban Extension Road-II corridor near Mundka. According to reports, some motorists are concealing or modifying High Security Registration Plates to disrupt automatic number plate recognition systems used for toll deduction. NHAI has sought stricter enforcement support from transport authorities as the government accelerates the rollout of AI-enabled and satellite-supported seamless tolling infrastructure across national highways to reduce congestion and improve traffic movement.Read more

19 hours ago

The Tamil Nadu Alliance of Resident Welfare Associations (TNARWA) has urged the state government to undertake a transparent statewide audit of property tax assessments for residential and commercial buildings, alleging large-scale tax evasion and manipulation in civic valuation processes. The federation claimed that irregular assessments and under-reporting of property details have resulted in revenue losses amounting to hundreds of crores of rupees for urban local bodies across the state. The organisation has sought inspections of properties linked to elected representatives and politically connected individuals, alongside disciplinary action against officials responsible for alleged lapses in assessment procedures. The demand comes amid concerns over Tamil Nadu’s fiscal position and follows previous allegations of property tax irregularities in certain urban local bodies. TNARWA has also called for the creation of an independent oversight mechanism and a fully digital inspection framework to improve transparency in tax administration.Read more

Lucknow News Desk

20 May 2026

The Lucknow Municipal Corporation is preparing to introduce a one-time settlement (OTS) scheme to help nearly 25 lakh residents clear long-pending house tax and water dues. The move is aimed at reducing the financial burden on property owners whose liabilities increased due to accumulated interest and revised property assessments over the years. Civic authorities estimate that pending house tax dues have crossed INR 700 crore, while water and sewerage dues stand at around INR 110 crore. The proposed scheme is expected to offer relief through interest waivers and help improve revenue recovery for the civic body.Read more

Kochi News Desk

20 May 2026

Marine Electricals (India) Ltd has secured new orders worth INR 208.72 crore from Adani Infra (India) Ltd and Udupi Cochin Shipyard Ltd for power distribution and alarm monitoring systems. The contracts involve the supply of power distribution systems to Adani Infra and alarm monitoring systems to Udupi Cochin Shipyard, with execution timelines ranging from 12 to 24 months. The company disclosed the contracts through a regulatory filing during the past week and stated that the transactions do not fall under related party arrangements. The order win comes amid rising infrastructure and maritime sector investments, including ongoing expansion across ports, shipbuilding, logistics and industrial infrastructure projects in India.Read more

20 May 2026

RITES Ltd reported a slight decline in its net profit for the March quarter of FY26 as higher operational expenses weighed on earnings. The company posted a net profit of INR 129.97 crore compared to INR 132.71 crore in the corresponding period last year. Despite the dip in profitability, revenue saw strong growth driven by increased business activity across segments. Total income rose to INR 799.21 crore during the quarter, while expenses also climbed significantly. The company’s board has recommended a final dividend of INR 2.75 per share for FY26, subject to shareholder approval.Read more

20 May 2026

The Bihar government is preparing to introduce mandatory map approvals for apartments and multi-storey residential projects in rural areas to regulate rising construction activity outside municipal limits. The proposed rules, being drafted by the Panchayati Raj Department, are aimed at improving planning, construction safety and transparency in village housing projects. The state is also considering a RERA-like system for larger rural developments, including project registration, escrow account norms and compensation provisions for delayed possession. The move comes as real estate activity increases in rural pockets near Patna and other fast-growing urban centres in Bihar.Read more

20 May 2026

• NeoLiv plans to invest around INR 500 crore in a 76-acre residential project in the Panvel-Khopoli belt of the Mumbai Metropolitan Region (MMR).
• The upcoming development will include housing plots and villas with a total saleable area of nearly 13 lakh sq ft.
• The project is expected to generate an estimated revenue potential of around INR 800 crore.
• This will be NeoLiv’s third project in the MMR region as the company expands its presence beyond Delhi-NCR.
• The company has already launched two housing projects in Delhi-NCR and plans to launch three projects in MMR during the current financial year.Read more

20 May 2026

• Digital Realty has opened its first data center in Barcelona, expanding its presence across the Mediterranean region.
• The new facility will have a planned capacity of 14 MW to support growing digital infrastructure demand.
• The Barcelona data center is expected to cater to rising requirements for cloud computing, AI workloads, and data storage services across Southern Europe.
• Barcelona is emerging as an important connectivity hub due to its subsea cable links and improving digital ecosystem.
• The expansion strengthens Digital Realty’s European network strategy as demand for large-scale data centers continues to rise globally.Read more

20 May 2026

The Thane Municipal Corporation (TMC) has earmarked nearly 100 acres of land linked to the Sanjay Gandhi National Park (SGNP) under its draft planning proposals, drawing concerns from environmental groups and forest authorities. The land has reportedly been proposed for public-use and green infrastructure purposes as part of the city’s development framework. The move comes amid continuing legal and policy discussions around forest land, rehabilitation planning and development activity near SGNP, where urban expansion and infrastructure growth have increasingly intensified land-use pressures.Read more

20 May 2026

Industry leaders from the retail, logistics, FMCG and commerce sectors across the Asia Pacific region are set to gather in Bangkok later this week for the 2026 APAC edition of the ‘Last Mile Leaders’ summit. The two-day event will focus on key challenges and changing trends in the logistics and delivery ecosystem, especially in the last-mile segment. Senior executives from companies including Electrolux, Metcash, JB Hi-Fi, CEVA Logistics, Thailand Post and Coca-Cola Europacific Partners are expected to participate. Organiser FarEye said the summit will also see the launch of a research report examining technology adoption, AI integration and infrastructure developments in last-mile delivery operations across the region.Read more

Mumbai News Desk

20 May 2026

• Mumbai Police’s Economic Offences Wing (EOW) arrested builder Sohail Abdullah Dukka in connection with an alleged fraud in the One Jogeshwari SRA redevelopment project in Jogeshwari West.
• The accused allegedly sold around 10 flats illegally at below-market rates and diverted the money into personal and business accounts instead of the project’s designated RERA account.
• The complaint stated that flats worth nearly INR 14.9 crore were involved, while around INR 10.67 crore was allegedly misappropriated.
• Investigators are examining financial transactions, flat allotments and whether more buyers or investors were impacted in the redevelopment project.Read more

20 May 2026

Umm Al Qura for Development and Construction, the developer behind the Masar destination project in Makkah, has signed a reservation agreement to sell a plot of land within the development to Heyazah Osool Al-Hejaz Development Company. The transaction, valued at SAR 210.8 million, is aimed at developing hospitality units within the large-scale mixed-use destination. The deal reflects continued investment activity in hospitality-led real estate projects in Saudi Arabia, particularly around Makkah, where demand for accommodation infrastructure has remained strong due to religious tourism and ongoing urban development initiatives.Read more

20 May 2026

The Enforcement Directorate (ED) has widened its investigation into an alleged INR 150 crore Change of Land Use (CLU) fraud connected to multiple real estate projects in Mohali. The probe involves projects linked to Suntec City and Altus Space Builders Pvt Ltd, with the agency seeking records from the Greater Mohali Area Development Authority (GMADA). The investigation is focused on alleged forged documents, irregular CLU approvals, financial transactions and cheating of homebuyers and landowners. Earlier searches across Mohali, Chandigarh and Patiala reportedly led to the seizure of cash, property-related documents and digital records connected to the case.Read more

Mumbai News Desk

20 May 2026

• BMC has set a June 2026 deadline to open the long-delayed Vidyavihar east-west flyover in Mumbai.
• The 650-metre flyover will connect LBS Marg and Ramkrishna Chemburkar Marg over Vidyavihar railway station.
• The project has faced repeated delays due to encroachments, construction hurdles and tree-cutting approvals.Read more

20 May 2026

• J Kumar Infraprojects Ltd reported a 4 per cent decline in consolidated net profit to INR 109.6 crore for the quarter ended March 2026.
• The company had posted a consolidated net profit of INR 114.2 crore in the corresponding period last year.
• Consolidated income during the quarter fell marginally to INR 1,616.5 crore from INR 1,642.6 crore a year ago.
• The board recommended a dividend of INR 4 per equity share for FY26, subject to shareholder approval at the upcoming Annual General Meeting.
• J Kumar Infraprojects continues to focus on metro, tunnelling, irrigation, and other complex infrastructure projects across India.Read more

20 May 2026

The Enforcement Directorate has received permission from a special PMLA court in Mumbai to arrest self-styled godman Ashok Kharat in connection with an alleged INR 70 crore money laundering case. Kharat, who is already in judicial custody in Nashik jail in separate rape and fraud cases, is accused of operating an extortion network and routing funds through multiple benami bank accounts. The ED has alleged that money collected from victims through religious manipulation and the sale of so-called “blessed” products was used to acquire properties in his and his family members’ names. Authorities are also probing possible wider financial links and additional beneficiaries.Read more

20 May 2026

Godrej Properties has completed the handover of more than 500 plots at its Forest Estate project in Nagpur. The company also conducted the first Nagpur edition of its customer handover initiative, Shubh Aarambh, as part of the process. The development marks another milestone for the Mumbai-based developer in the plotted development segment, which has seen rising demand across several tier-II cities. In recent years, Godrej Properties has been expanding its residential presence beyond metro markets through plotted communities and township-style developments in locations with improving infrastructure and housing demand.Read more

20 May 2026

Residential asking prices in the UK recorded a stronger-than-usual rise in May, according to property portal Rightmove, even as global uncertainty linked to the Iran conflict continued to affect sentiment. Average asking prices increased 1.2% month-on-month, above the typical seasonal rise seen during this period. Mortgage rates also eased slightly, offering some relief to buyers. However, annual price growth remained negative, while sales activity stayed mixed. The number of homes available for sale continued to remain at its highest level in more than a decade, indicating that supply in the market is still elevated.Read more

20 May 2026

The Mumbai-Ahmedabad Bullet Train project has achieved a major construction milestone with the lowering of the first Tunnel Boring Machine cutterhead at Vikhroli in Mumbai. The 13.6-metre-diameter cutterhead forms part of two TBMs being assembled for excavation of a 16 km underground tunnel section, including India’s first undersea rail tunnel beneath Thane Creek. Each TBM weighs over 3,000 tonnes and is designed to construct a single tunnel carrying both high-speed rail lines.The cutterhead, weighing around 350 tonnes, has been fitted with 84 cutter discs, 124 scrapers and 16 bucket lips for excavation and muck removal operations. The machine will tunnel nearly 6 km from Vikhroli to Bandra Kurla Complex beneath dense urban areas and the Mithi river, with multiple monitoring systems being deployed to ensure structural and excavation safety during construction.Read more

20 May 2026

• Indian Hotels Company (IHCL) has signed a 105-key brownfield gateway resort project in Bharatpur, Rajasthan.
• The company said Bharatpur is witnessing rising demand for experiential tourism, destination weddings and MICE activities due to its strategic location and bird sanctuary.
• With the new signing, IHCL’s Rajasthan portfolio will increase to 67 hotels, including 24 under development.
• Separately, Hilton has signed a 96-key Hilton Garden Inn hotel in Kompally, Hyderabad, which is expected to open in 2028.
• Hilton said it plans to significantly expand its India portfolio in the coming years, targeting both major gateway cities and emerging business destinations.Read more