Indian states target 1.18 million jobs, 1,380 GCCs by 2031: Report

Indian states with GCC-focused policy frameworks are targeting over 1.1 million jobs and more than 1,300 new GCCs by 2029-31, according to CBRE. GCCs leased over 123 million sq ft of office space across India’s top nine cities between 2022 and H1 2026.

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Mumbai: BMC panel approves leasing Century Mill land to Peddar Realty

The civic improvements committee approved leasing BMC's Century Mill land for thirty years. Opposition arose from Shiv Sena (UBT) and Congress regarding the land deal. A proposal to replace a sports complex reservation with a petrol pump was also cleared. Nearly nine thousand square meters of BMC land in Lower Parel will be integrated into an SRA scheme.

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Maharashtra mulls new law to cap upfront payment at 80% for agreement to sell

Maharashtra is set to implement a law to safeguard flat buyers from unethical builders. Under this new regulation, builders will be allowed to collect only eighty percent of the total payment at the time of signing the agreement, with the remaining amount payable only upon the final registration of the property.

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Enforcement directorate conducts raids in NCR in homebuyers 'fraud' case

On Thursday, the Enforcement Directorate launched searches throughout the Delhi-NCR region as part of a money laundering investigation targeting AVJ Developers and Rudra Buildwell Construction. These companies are accused of deceiving homebuyers via a fraudulent subvention scheme, with the inquiry originating from two distinct CBI FIRs related to collusion between builders and banks.

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Delhi NCR developers tap fund houses for liquidity lifeline

Funds are partnering with Delhi NCR developers to acquire land and finish projects. This provides essential liquidity amid rising costs and market slowdown. Several developers are securing credit lines to maintain steady cash flows. Alternative Investment Funds are crucial for land acquisition in key growth hubs. Private equity inflows show a significant surge in the domestic real estate sector.

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Ocean Seven’s licence cancelled in Gurugram, buyers seek another developer

Authorities in Gurugram have revoked the license of Ocean Seven Buildtech due to a stalled housing project, citing extensive delays and failure to meet construction milestones. Homebuyers expressed relief at the decision and are now searching for a new developer to finish the project. The government will assume control of the property, while investigations continue regarding potential fund misappropriation from buyers.

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Two-storey dwelling units can now be redeveloped: Delhi development body

The Delhi Development Authority has sanctioned a policy focused on the overhaul of outdated two-storey residential units, with plans for broader application across the city. This will streamline building plan approvals by eliminating NOC requirements across multiple departments. Additionally, a crucial land use alteration for a metro depot in Narela Sub-City was approved, which aims to boost connectivity and promote regional growth.

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