Real Estate News

IKEA aims to be profitable by FY28; to open 25 small & medium stores in next 4-5 years

ET Realty Retail
7th Mar, 2026

Swedish furniture giant IKEA is set to become profitable in India by FY28. The company plans to open 25 new stores across the country in the next four to five years. This expansion will focus on smaller formats to reach more customers. IKEA is also enhancing its operational efficiency and local sourcing to drive growth and improve margins.

Housing board offers discounts on Siddharth Vihar plots & flats in Ghaziabad

ET Realty Residential
7th Mar, 2026

UP Housing Board is offering a festive season rebate of up to 15% on plots and residential units in its Siddharth Vihar township until March 31. Located strategically along the Delhi-Meerut Expressway, the township is a 5-minute drive from Ghaziabad rapid rail and Shaheed Sthal metro stations.

DDA to take over day-to-day upkeep of flats from April

ET Realty Residential
7th Mar, 2026

Delhi Development Authority will now manage day-to-day maintenance of its housing complexes, including pre-2021 flats, to boost sales. Flat owners will pay quarterly charges for services like security, cleaning, and minor repairs. This initiative aims to ensure efficient upkeep until occupancy reaches 80% or an RWA is registered.

Nayanthara buys duplex apartment in Chennai's Poes Garden for ₹31.5 crore

ET Realty Residential
7th Mar, 2026

South Indian star Nayanthara and husband Vignesh Shivan have purchased a luxurious duplex in Chennai's exclusive Poes Garden for Rs 31.5 crore. The sprawling 14,369 sq ft property, located in the Legacy project, underscores the enclave's status as a prime address for celebrities and high-net-worth individuals, with property values consistently reaching crores.

Maharashtra CM announces ₹23,487-crore metro line to Gateway of India, underground tunnel network

ET Realty Infrastructure
7th Mar, 2026

Maharashtra Chief Minister Devendra Fadnavis unveiled ambitious infrastructure plans. The Budget 2026-27 includes extensive underground tunnel networks in Mumbai and Pune. A Rs 23,487 crore metro line to the Gateway of India is also planned. The state aims for 1,200 km of metro lines and over 6,000 km of expressways by 2047, enhancing connectivity for passengers and freight.

About 195% more groundwater drawn by Gurugram than it replenished last year

ET Realty Infrastructure
7th Mar, 2026

Gurgaon's groundwater extraction is alarmingly high, exceeding permissible limits by 194.6%, a negligible improvement from last year. This over-exploitation, driven by urbanisation and industrial demand, depletes aquifers faster than they can replenish. Despite warnings, the city relies heavily on groundwater, highlighting a critical need for sustainable water management and increased rainwater harvesting.

Residents in Mohali protest over delay in PR-6 road construction

ET Realty Infrastructure
7th Mar, 2026

Residents protested a private builder's alleged role in delaying the PR-6 road construction in Mohali. The project, crucial for connectivity, is stalled due to a legal dispute over land compensation, impacting thousands of residents. Puda officials stated the case is sub judice and concerns public interest.

West Bengal drafts plan for reuse of treated wastewater in housing units

ET Realty Infrastructure
7th Mar, 2026

West Bengal's urban development department has drafted a policy promoting safe reuse of treated wastewater for non-potable purposes. The policy aims to reuse at least 20% of treated wastewater by 2030 across various sectors, including industry, agriculture, and housing. It also suggests imposing user charges and commercializing treated water use for revenue generation.

US-based Charles Schwab leases 3.45 lakh sq ft office space in Hyderabad for GCC

ET Realty Commercial
7th Mar, 2026

Charles Schwab is expanding its global operations in India. The US financial services firm has leased a significant office space in Hyderabad's Gachibowli. This move highlights Hyderabad's growing importance as a hub for multinational companies. The lease agreement includes phased commencement and rental escalations. This expansion is expected to boost the city's office market.

ICICI Prudential AIF acquires Pune IT park asset for about ₹520 crore

ET Realty Commercial
7th Mar, 2026

An investment fund managed by ICICI Prudential Asset Management has bought a large office space in Pune. This acquisition is part of a strategy to build a portfolio of income-generating commercial real estate. The fund aims to provide investors access to prime office assets. This move taps into India's growing commercial real estate market.

Nexus Select Mall Management settles allegations of REITs violation with Sebi

ET Realty Retail
6th Mar, 2026

Nexus Select Mall Management has resolved allegations of breaching REIT guidelines by settling with Sebi. The firm has agreed to pay Rs 24.37 lakh, addressing concerns over its inability to uphold essential net worth requirements and notify Sebi of pertinent alterations.

Haryana plans to mandate registration of property sale agreement

ET Realty Residential
6th Mar, 2026

Haryana plans to mandate registration of Agreements to Sell to enhance transparency and legal security in property deals. This move aims to curb fraud and litigation by ensuring all property commitments are formally documented, unlike current practices of using plain paper or notarized agreements with weaker legal standing.

Pay back excess power charges to residents: Panel to RWA & Unitech Realty in Gurugram

ET Realty Residential
6th Mar, 2026

Haryana Electricity Regulatory Commission (HERC) has ordered Uniworld Gardens II RWA and Unitech Realty to refund extra electricity charges collected from residents and imposed a Rs 50,000 penalty. The commission barred Unitech from using a Supreme Court moratorium to evade billing rules, emphasizing compliance with tariff regulations.

Government's primary objective is to make Bengaluru 'world's most liveable city': Karnataka CM

ET Realty Infrastructure
6th Mar, 2026

Karnataka Chief Minister Siddaramaiah unveiled plans to make Bengaluru the "world's most liveable city" by mobilising resources through Municipal Bonds and a Rs 7,000 crore grant. The budget includes significant investments in road development, white topping, footpaths, and the implementation of a Revised Master Plan-2041 and Comprehensive Mobility Plan.

SAMHI Hotels to invest ₹470 million for 70% stake in RARE India

ET Realty Hospitality
6th Mar, 2026

SAMHI Hotels is acquiring a 70% stake in RARE India for approximately ₹470 million, marking its entry into the experiential leisure hospitality segment. This investment will bolster RARE India's capabilities and reach. Additionally, SAMHI and RARE India are exploring an affiliation with Marriott International to operate RARE's portfolio under Marriott's Outdoor Collection brand.

Pune civic body demolishes illegal constructions spread over 78,000 sq ft in Lohegaon, Nagar Road areas

ET Realty Infrastructure
5th Mar, 2026

Pune Municipal Corporation demolished 18 illegal constructions spanning 78,000 sqft in Lohegaon and Nagar Road areas. The drive targeted both residential and commercial properties, including Rameshwaram Cafe in Vimannagar, for violating building permission rules. Action was taken after owners failed to comply with notices issued under the MRTP Act.

IISc study flags groundwater crisis in Bengaluru; BWSSB readies ₹10 crore summer plan

ET Realty Infrastructure
5th Mar, 2026

Bengaluru faces a looming groundwater crisis, with 65 wards reporting alarming depletion. A Rs 10-crore plan is underway to mitigate potential summer shortages, including intensified borewell monitoring and ensuring optimal functioning of RO plants. The city water supply agency is also prioritizing new connections and repairing damaged pipelines to address the issue.

Delhi: NDMC tells Palika Dham residents to vacate premises by March 7

ET Realty Residential
4th Mar, 2026

New Delhi Municipal Council has issued an immediate evacuation notice for Palika Dham residents, declaring the building unsafe. A March 7 deadline is set for vacating the premises, with alternative accommodation offered through bidding. This directive follows a similar order in July, which residents had resisted.

Pune civic body mandates sensors to monitor STPs in private housing societies

ET Realty Infrastructure
4th Mar, 2026

Pune Municipal Corporation (PMC) has mandated nearly 750 housing societies to install sewage treatment plant (STP) sensors for efficient monitoring. This initiative aims to curb untreated wastewater release and reduce water pollution, with performance data to be monitored centrally. The move supports PMC's broader efforts to enhance sewage treatment capacity across the city.

Himachal Pradesh government mandates installation of EV charging stations in commercial, public buildings

ET Realty Infrastructure
4th Mar, 2026

Himachal Pradesh is mandating the installation of electric vehicle charging stations in all new buildings and real estate developments. The government is also promoting energy efficiency measures, enabling developers to acquire additional building space under revised regulations.

Focus of Ahmedabad development plan shifts to 2041

ET Realty Infrastructure
4th Mar, 2026

Ahmedabad Urban Development Authority is drafting a 20-year Development Plan (DP 2041), a departure from the traditional 10-year cycle, driven by the prospect of hosting the 2036 Olympics. This extended plan aims to transform Ahmedabad into a global metropolitan city, with special provisions for sports facilities and infrastructure development in surrounding villages.

Embassy REIT acquires 0.3 million sq ft office space in Bengaluru for ₹852 crore

ET Realty Commercial
4th Mar, 2026

Embassy Office Parks REIT has bought a Bengaluru office property for ₹852 crore. The deal involved acquiring Eleanor Realty Holdings India, which owns the Pinehurst building. This grade-A office space is fully leased to a global investment firm. The transaction was completed at a discount to independent valuations. PwC and Trilegal provided advisory services for the deal.

Cafes, restaurants on Noida abadi land bypassing fire NOCs, building bylaws, parking norms

ET Realty Retail
3rd Mar, 2026

Popular Noida nightlife hubs, built on abadi lands, are operating without fire safety clearances, posing a significant risk. Despite warnings from residents about narrow access and overloaded connections, authorities face limitations due to relaxed norms for establishments under 500 sq m, creating a dangerous regulatory gap.

Delhi mayor urges residents to clear dues under property tax amnesty scheme before March 31

ET Realty Residential
3rd Mar, 2026

Delhi Mayor Raja Iqbal Singh is encouraging property owners to use the SUNIYO 2025-26 property tax amnesty scheme. This scheme offers a waiver on past interest and penalties for dues before the financial year 2020-21. The deadline for this opportunity is March 31, 2026. Over 1.8 lakh taxpayers have already benefited.

Ghaziabad development body to take help of brokers, marketing cell to sell 1,700 flats

ET Realty Residential
3rd Mar, 2026

Ghaziabad Development Authority plans to sell over 1,700 unsold houses. Professional brokers will be hired to find buyers. A marketing cell will also be established. This strategy aims to generate over Rs 500 crore. The initiative will not apply to EWS flats. This follows a similar state government scheme.

Prime Offices Fund acquires 51% stake in 1.1 million sq ft office asset in Pune

ET Realty Commercial
3rd Mar, 2026

PRIME Offices Fund has acquired a significant stake in a large office development in Pune. This move expands PRIME's office portfolio to nearly 3.8 million square feet. The fund manager, NCW, is a joint venture between Nuvama Asset Management and Cushman & Wakefield. This follows a recent major acquisition in Chennai.

After HC setback, Ghaziabad residents seek political fix to property tax hike

ET Realty Residential
2nd Mar, 2026

Ghaziabad residents and former councillors are exploring political avenues and a potential Supreme Court challenge after the Allahabad High Court upheld the Municipal Corporation's property tax hike. The revision, which aligns tax slabs with district magistrate circle rates, has led to a significant increase in property taxes for many households, sparking widespread protests.

Sushmita Sen and her mother lease out Mumbai apartment for ₹1.95 lakh per month

ET Realty Residential
2nd Mar, 2026

Actress Sushmita Sen and her mother Subhra Sen have leased their Mumbai apartment. The rental agreement begins at ₹1.95 lakh monthly. This deal includes two car parking spaces. The lease spans 36 months with rent increments. The total rental value over three years is ₹73.76 lakh. This transaction was registered in February 2026.

MCD recovers ₹11.69 crore in property tax from Delhi hotel

ET Realty Hospitality
28th Feb, 2026

A Delhi hotel owner settled Rs 11.69 crore in overdue property tax after the Municipal Corporation of Delhi initiated action. The firm utilized the Sumpattikar Niptaan Yojana (SUNIYO) amnesty scheme, which waives interest and penalties before 2020-21. This scheme requires payment of the principal for current and five preceding years. The deadline is now February 28.

State Bank of India picks up 1.35 lakh sq ft office space in Navi Mumbai

ET Realty Commercial
28th Feb, 2026

The agreed rental stands at Rs 125.05 per sq ft per month, translating into a monthly outgo of over Rs 1.68 crore. The rent is inclusive of fit-outs, indicating that the space will be delivered in a ready-to-use format, reducing upfront capital expenditure and speeding up operational readiness.

WeWork India to add 7,700 desks across Hyderabad, Pune and Bengaluru; to invest ₹110 crore

ET Realty Commercial
27th Feb, 2026

WeWork India is expanding its presence in Hyderabad, Pune, and Bengaluru. The company will add approximately 7,700 desks across these cities. New centers in Hyderabad and Pune are expected to open by July and August 2026 respectively. Bengaluru's expansion is targeted for completion by September 2026.

Executive Centre leases over two lakh sq ft in Hyderabad's HITEC City

ET Realty Commercial
27th Feb, 2026

The Executive Centre India has secured a substantial office footprint in Hyderabad's HITEC City, signaling robust demand for flexible workspaces in India's IT corridors. The lease covers a large area with a long-term commitment, and TEC plans further centers across major Indian cities, underscoring Hyderabad's growing appeal to multinational corporations seeking agile office solutions.

Lucknow: IT City plot allotment via lottery on February 28

ET Realty Commercial
26th Feb, 2026

The Lucknow Development Authority is launching its IT City housing scheme on Sultanpur Road on February 28. In the first phase, 870 developed plots will be allotted to 336 farmers through a lottery system as part of the land pooling policy. These plots, ranging from 35 to 288 sq m, will be free of cost for landowners.

GCCs, flex to drive office leasing to 85-90 million sq ft in FY27: India Ratings and ETRealty whitepaper

ET Realty Commercial
26th Feb, 2026

India's office market anticipates strong growth in FY27. Gross leasing is projected to increase by 12% to 14%. Global capability centers and flexible workspaces are driving demand. Supply additions remain disciplined. Rentals are expected to see moderate growth. This indicates a steady, quality-led expansion for the sector.

Mindspace REIT to invest ₹350 crore to develop hotel in Hyderabad

ET Realty Hospitality
25th Feb, 2026

Mindspace Business Parks REIT will develop a luxury hotel in Hyderabad. The project involves a 5.3 lakh sq ft building and a 330-key hotel. Chalet Hotels will manage the hotel operations. This development is expected to be completed by Q4 FY28.

REITs moving from niche to mainstream as capital deepens exposure to commercial real estate

ET Realty Commercial
25th Feb, 2026

At ET Realty Conclave 2026, the REIT ecosystem flags total-return expectations, a deep “REIT-ready” pipeline beyond offices, and the need for education, governance and valuation discipline as REIT participation broadens.

Nexus Select Trust to pick 50% stake in Runwal Enterprises' upcoming mall in Mumbai for ₹434 crore

ET Realty Retail
23rd Feb, 2026

Nexus Select Trust will acquire a 50 percent stake in a new mall in Mumbai. This deal is valued at Rs 434 crore. The upcoming mall is located in Dombivli. It will be operated in partnership with Runwal Enterprises. This acquisition is part of Nexus Select Trust's growth strategy.

Bhopal: Lakeview Residency to be razed & rebuilt as five-star hotel

ET Realty Hospitality
17th Feb, 2026

A consortium including Genex Hotels, Dilip Buildcon, and IHCL will redevelop the MPT Lake View Residency Hotel. The project aims to create a minimum 5-star property with a convention center. This development is expected to significantly boost Bhopal's tourism and its standing as a MICE destination.

The Leela Palaces takes over Centaur Hotels in Srinagar

ET Realty Hospitality
10th Feb, 2026

The Centaur Srinagar, one of the last two Centaur Hotels, has been taken over by The Leela Palaces, Hotels and Resorts for a 60-year lease. Leela is investing Rs 300 crore in a major renovation, aiming to reopen the property with 170 larger rooms and branded houseboats by the end of next year.

About 90 hotels in Lucknow don’t have fire safety NOC: Fire department

ET Realty Hospitality
8th Feb, 2026

Nearly 90 hotels in Lucknow are operating without mandatory fire safety no-objection certificates (NOCs). Following a recent hotel fire, the fire department is set to begin enforcement action, with compliance checks starting Monday. Hotels failing to meet safety norms face potential sealing, fines, or closure.

Nexus Select Trust raises ₹7 billion via 10-year sustainability-linked bond

ET Realty Retail
4th Feb, 2026

Nexus Select Trust has secured ₹7 billion from a 10-year sustainability-linked bond issuance. The International Finance Corporation is the anchor investor. This issuance will help refinance existing debt, leading to significant interest savings. The bonds are linked to ambitious sustainability targets, including net-zero emissions by 2030.

Nexus Select Trust declares ₹359 crore distribution to unitholders for Q3 FY26

ET Realty Retail
2nd Feb, 2026

Nexus Select Trust will distribute Rs 358.60 crore to its unitholders for the quarter ending December 2025. The real estate investment trust reported a consolidated net profit of Rs 139.40 crore for the October-December period. Total income also rose to Rs 691.93 crore.

Villagers protest against construction of resorts, luxury villas in Bittangala

ET Realty Hospitality
30th Jan, 2026

Villagers in Bittangala, Virajpet, are protesting a resort and luxury villa project, deeming it illegal and a threat to their landslide-prone community. Environmentalists and activists claim authorities granted permissions in violation of rules and a high court order. They warn of potential destruction and urge local MLAs to intervene.

The Phoenix Mills' profit rises 4% to ₹276 crore in Q3 FY26

ET Realty Retail
29th Jan, 2026

Phoenix Mills reported a 4 percent increase in its consolidated net profit for the third quarter of the current fiscal year, reaching Rs 275.79 crore. This marks an improvement from the Rs 264.76 crore profit recorded in the same period last year.

Found three illegal borewells at Lalit hotel, sealed one of them, NDMC tells NGT

ET Realty Hospitality
28th Jan, 2026

New Delhi Municipal Council informed the National Green Tribunal about sealing one of three illegal borewells at The Lalit hotel. The hotel has applied for permission for the remaining two, with environmental compensation to be assessed. The tribunal is hearing a plea regarding illegal groundwater extraction by hotels.

Lucknow civic body to bring proposal to hike licence fee for hotels, commercial units

ET Realty Hospitality
26th Jan, 2026

The Lucknow Municipal Corporation is set to propose a significant hike in licence fees for hotels, restaurants, nursing homes, and commercial units, with increases potentially reaching five times the current rates. This revision, aimed at enhancing revenue and ensuring compliance, will be presented for approval on January 27 and is slated for enforcement from April 1, 2026.

Pride Hotels gets Sebi nod to raise ₹1,000 crore via IPO

ET Realty Hospitality
24th Jan, 2026

Pride Hotels has received the green light from Sebi for its upcoming Initial Public Offering, aiming to raise Rs 1,000 crore. This influx of funds will be used to revamp existing hotels, settling debts, and catering to corporate endeavors.

Unity Mall project not in wetland zone, has all clearances: Goa goverment

ET Realty Retail
14th Jan, 2026

In an encouraging update for the Unity Mall project in Chimbel, Goa’s government has confirmed that it is moving forward with all necessary approvals. Tourism Minister Rohan Khaunte reassured legislators that the project site is clear of any designated wetland conservation zones.

Omaxe to invest ₹500 crore to develop mixed-use Omaxe Chowk project in Ludhiana

ET Realty Retail
13th Jan, 2026

Omaxe is investing ₹500 crore in Omaxe Chowk, a new mixed-use project in Ludhiana. This development will offer convenient walk-to-shop options. The project is set to be delivered by June 2030.

Chimbel villagers harden stance against Unity Mall, to continue protest till govt scraps project

ET Realty Retail
5th Jan, 2026

Chimbel villagers are intensifying their agitation against the Unity Mall and Prashaasan Stambh projects, vowing to continue their hunger strike until the government scraps them. Political leaders and activists have voiced strong opposition, alleging corruption and environmental degradation, and urging the public to resist the projects.

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