Managed workspace provider Incuspaze has acquired iKeva in a 100% buyout, adding approximately ₹100 crore to its revenue. This strategic move expands Incuspaze's portfolio by five lakh sq ft across Hyderabad and Bengaluru, with plans for further growth and a potential IPO within three years. Source link...
A recent fire in Noida's Ivy County high-rise has highlighted critical gaps in fire safety systems for tall residential buildings. Residents and experts are calling for stricter enforcement of fire norms, regular audits, and investment in modern rescue technology, as current firefighting equipment struggles to reach upper floors. Source link...
Truhome Finance's proposed IPO comprises a fresh issue of equity shares worth Rs 1,500 crore and an offer-for-sale (OFS) aggregating to Rs 1,500 crore by promoter Mango Crest Investment. Veegaland Developers, a part of the V-Guard Group, plans to raise Rs 250 crore through an entirely fresh issue of shares. There is no OFS component in the proposed issue. Source link...
The Telangana High Court questioned officials regarding approvals for illegal constructions on government land. Residents of Patelguda village had their homes demolished by HYDRAA. A later survey confirmed the lands were private patta lands. Despite this, municipal authorities are refusing building permissions. The court has directed respondents to file counters and will hear the matter again. Source...
UP-RERA has advised homebuyers and investors to make property purchase decisions after verifying project details and assessing their financial capacity. The authority said more than 1.15 lakh residential and commercial units are currently available across Uttar Pradesh, and buyers should not act under pressure created by claims of stock shortage or imminent price hikes. Source link...
Following a fatal fire in Malviya Nagar, Delhi Home Minister Ashish Sood announced that all buildings lacking required fire safety and other permissions will be sealed. An immediate city-wide enforcement drive and a crackdown on illegal hotels have been ordered. The tragedy highlighted serious violations at a B&B establishment, prompting a comprehensive inspection of similar facilities. Source...
Kotak Alternate Asset Managers has closed its fourteenth real estate fund at nearly $1 billion, backed by commitments from ADIA and NPS Korea. ADIA has made an anchor commitment of over $675 million, while NPS Korea has made its first investment in Indian alternative assets through the fund. Source link...
Four promoters of Earth Infrastructures Ltd. were arrested by the Enforcement Directorate in a Rs 2,004-crore homebuyer fraud probe. Over 19,000 buyers and investors were allegedly defrauded as projects remained incomplete. The ED claims Rs 467 crore was siphoned off, with proceeds used to acquire assets. Investigations stem from Delhi Police FIRs and an SFIO complaint. Source link...
In a bold step, Disney India has finalized a substantial leasing agreement for a new office space in Bengaluru, covering nearly 1.75 lakh square feet in the thriving locality of Bellandur. This long-term deal, valued at roughly Rs 127.84 crore over five years, officially began on February 1. Source link...
Adani Properties has emerged as the highest bidder for MHADA’s cluster redevelopment projects at Adarsh Nagar in Worli and Bandra Reclamation, while a consortium comprising Hanura Realty, Chandak Realtors, Premsagar Infra Realty and Vantier Realty has emerged as the highest bidder for the S.V.P. Nagar project in Andheri West. Source link...