Crisil inks 15-year lease for office in Mumbai’s Saki Vihar, to pay nearly ₹600 crore rent

Rating agency Crisil has secured over 2.5 lakh sq ft of office space in Mumbai's Saki Vihar for 15 years, with total rentals nearing Rs 600 crore. This move signifies workspace consolidation, while the vacated Powai office has been leased by Brookfield Properties to CoWrks India for managed office services.

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Maharashtra cabinet approves slum cluster redevelopment scheme for Mumbai

The Maharashtra Cabinet has approved a scheme to redevelop Mumbai's slums into integrated housing projects, aiming to improve living conditions and urban infrastructure. Additionally, a state-wide sewage treatment and reuse policy was greenlit to promote a circular economy and sustainable urban growth.

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RBI may let real estate tap offshore loans in bid to shore up dollar flows

The Reserve Bank of India is poised to liberalise its foreign loan regime, potentially allowing External Commercial Borrowings (ECBs) in real estate for the first time in three decades. This policy shift, previously resisted due to the '97 Asian Crisis, aims to bolster the rupee with increased dollar supply and acknowledges the sector's evolving maturity.

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ED attaches Ozone Urbana Infra Developers' assets worth ₹423 crore in Karnataka

The Enforcement Directorate has attached properties worth over Rs 423 crore belonging to Bengaluru-based Ozone Urbana Infra Developers and its promoter S Vasudevan under anti-money laundering law. This action follows allegations of defrauding homebuyers of Rs 927.22 crore by failing to deliver apartments and diverting funds to other entities and family members.

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Income tax department slaps ₹23 crore fine on Adani Cement entity ACC

The Income Tax department has imposed two separate fines totaling Rs 23.07 crore on ACC Ltd, an Adani Group firm. These penalties, for "inaccurate particulars of income" (AY 2015-16) and "under-reporting of income" (AY 2018-19), will be contested by ACC before appellate authorities. The company stated these demands, from before Adani's acquisition, will not impact its financial activity.

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Developers who plant trees in Gurugram's Matri Van will earn green credits

Developers will now earn green credits for planting trees in Gurugram's Matri Van. This initiative aims to boost green cover in the Aravalis. Environmentalists express concerns about the policy. They fear it could compromise ecological integrity. Critics suggest it may lead to land capture. Experts advocate for natural regeneration over token plantations. The Green Credit Programme faces scrutiny.

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Runwal Realty plans up to ₹2,000-crore IPO, files DRHP

Runwal Realty plans to raise Rs 2,000 crore through an Initial Public Offer. The company filed its draft prospectus for the equity share sale. This includes a fresh issue of Rs 1,700 crore and an offer for sale of Rs 300 crore. Funds will repay outstanding borrowings. The developer also plans expansion into hospitality.

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