REDEVELOPMENT CORPORATION
Delhi's post-Diwali smog puts Rekha Gupta & Co's clean-air promise to test
Delhi's air quality has recently deteriorated, reaching a severe level of 370 on November 9. Chief Minister Rekha Gupta's government is facing scrutiny over its clean-air promises amidst worsening conditions. Despite various pollution-control measures, including a winter action plan, the situation remains dire as the season intensifies. Punjab has also reported a significant number of stubble-burning incidents contributing to regional pollution.
Akhilesh Yadav targets BJP after part of Bismillah Khan's house demolished, Varanasi officials deny role
Samajwadi Party leader Akhilesh Yadav criticised the BJP government for the demolition of Bismillah Khan's home. He expressed concerns about the loss of cultural legacy and the integrity of Bharat Ratna awardees. Municipal officials clarified that the family chose to demolish the structure independently after declining a museum proposal. The Varanasi Municipal Corporation had earlier issued a notice concerning the building's dilapidated condition.
NCRTC to develop urban centres along the Namo Bharat corridor
NCRTC is working with NCRPB to develop urban centers along new transit corridors including Namo Bharat. Collaboration focuses on planning frameworks to encourage private investment in transit-oriented development zones. Key discussions cover measures that support flexible land use and streamlined clearances for developers. The redevelopment project at Sarai Kale Khan aims to create a multimodal hub for connectivity.
NCLT voids Rs 525-cr guarantee, Mumbai land transfer in JLS Realty dispute
The NCLT has invalidated multiple transactions involving JLS Realty Pvt Ltd, including its transfer of redevelopment land. The tribunal found that the transfer to Spenta Suncity lacked commercial benefit and involved financial obligations. Management changes made in February 2021 were deemed invalid due to improper procedures and lack of justification. Additionally, share transfer claims by IIFL were ruled as unproven and unsubstantiated during the tribunal's examination.
Core4 Engineers SME shares to list today: Check IPO subscription status and other key details
Core4 Engineers will make its debut on the BSE SME platform on October 30 after its Rs 54.82 crore IPO was subscribed 5.44 times. The NII category led demand with 12.26 times subscription, followed by QIBs at 5.06 times and individual investors at 2.72 times. The IPO was entirely a fresh issue of 58.94 lakh shares.
Easier visas draw Indian travellers, but Japan and Europe show experiences still matter
In 2026, visa-free entry and simplified visa processes are shaping the travel preferences of Indian tourists. Popular searches have revealed that travellers are particularly drawn to Thailand, Vietnam, and Japan. Malaysia is actively working to enhance its appeal for Indian visitors through easier accessibility and budget-friendly options. Meanwhile, Japan persists as a favoured choice, boasting rich cultural experiences despite existing visa challenges.
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Lata Mangeshkar bought a flat in 36-storey Pratibha tower in Mumbai, bulding was caught in a 1984 land scam, then demolished in 2019; now a 179-metre skyscraper is set to replace it
Lata Mangeshkar owned a flat in Mumbai's Pratibha building, a 36-storey tower that became infamous after a 1984 construction scam involving an inflated plot-area declaration. Eight illegal floors were demolished in the 1990s before the remaining building was razed in 2019. Now, a 179.4-metre skyscraper with 33 floors is planned for the site.
In 2020, Estate Cos. paid $15.3 million for a shuttered 258-room Ramada in Hialeah; 2 years later, it reopened as 251 apartments
Alture Westland has transformed the site of the former Ramada hotel in Hialeah into a vibrant residential community. Acquired by The Estate Cos. for $15.3 million in 2020, construction began in April 2021. The project boasts 251 apartments and retail space, showcasing innovative adaptive reuse of commercial properties. Currently, 85 percent of the units are leased, with rents starting at $1,636. A Panera restaurant is also set to open shortly.
Core4 Engineers SME IPO opens today: Check price band and other key details
Core4 Engineers’ Rs 54.82 crore SME IPO opens on October 23, 2026, and closes on October 27. Priced at Rs 88–93 per share, proceeds will fund working capital, facility acquisition, and corporate purposes. The company reported FY26 revenue of Rs 92 crore and profit of Rs 2 crore, reflecting strong annual growth.
PM Modi inaugurates Rs 4,900 crore 15-km Chennai Metro Phase II stretch, rides along with CM Vijay
Prime Minister Narendra Modi inaugurated the 15-km Poonamallee-Vadapalani stretch of the Chennai Metro Rail Project. This new stretch, built at a cost of around Rs 4,900 crore, features advanced signalling systems. It is expected to improve connectivity between Chennai's western suburbs and the city centre. The Chennai Metro stretch is part of a wider development programme worth over Rs 13,000 crore that Modi is scheduled to launch across Tamil Nadu.
Magic Johnson quietly built 105 Starbucks stores in underserved urban neighborhoods; in 2010, he sold his stake back to Starbucks in a deal reported at about $75 million
In 1998, Starbucks teamed up with basketball legend Magic Johnson to establish coffee shops in urban neighborhoods lacking access to quality beverages. Over a span of 12 years, this synergy resulted in over 100 locations opening in major U.S. cities. The initiative sought to harness the economic influence of African American consumers.
From just-in-time to just-in-case: oil executives say world needs more export routes
The ongoing disruptions from the Iran conflict are reshaping energy supply chain strategies. TotalEnergies and BP are actively seeking alternative pipeline avenues to avoid conflict-affected areas. Chevron is in discussions with Iraq's government for potential oilfield access and new pipeline initiatives.
SRIT India shares list at 14% premium over IPO price on NSE
SRIT India made a strong stock market debut, listing at a 13.85% premium on NSE and 7.54% on BSE. The Rs 218.40-crore IPO was subscribed 125.16 times overall, with the NII portion seeing 312.99 times subscription and QIB portion 91.84 times.
CREDAI says unable to build affordable homes due to high input cost, taxes; seeks govt sops
CREDAI has raised concerns about the lack of affordable housing being built because of rising costs. The organization's President, Shekhar Patel, urged the government for incentives to boost supply-demand for cheaper apartments. He advocated for changing the definition of affordable housing by removing the current price cap. While the demand for housing remains strong, the share of affordable homes has fallen to 14 percent.
An iconic Art Deco Coca-Cola bottling factory stood unused; developers turned its 12-acre site into a mixed-use destination featuring a food hall and hotel
Architects and developers are transforming abandoned factories into functional spaces such as hotels and art galleries. Many of these projects aim to preserve historical elements while integrating modern design concepts. Notable renovations include Brooklyn Cider House and the Plant Riverside District in Savannah. These revitalizations help to maintain a dialogue with America's industrial heritage. By repurposing these sites, communities are encouraged to embrace their rich history.
SRIT India IPO opens for subscription: GMP signals 12% premium; check key details
The SRIT India IPO is a Rs 218.40-crore book-built issue, comprising an entirely fresh issue of 1.68 crore shares. The IPO has no offer-for-sale (OFS) component.
Dissenting housing society members challenge redevelopment plan citing 10% less area, but lose the case in Maharashtra co-operate appellate court for this reason
Two members challenged redevelopment plan citing 10% less area with potential Rs 25 to 30 lakh loss; loses case in Maharashtra Co-operative appellate court in a interim judgement. This article explains why.
'A senior citizen among India’s young achievers': From Burnol to burn rate, how the vocabulary of business has changed
During The Economic Times 40 Under Forty awards, a seasoned jury member is struck by the dynamic energy of the young honourees. He highlights a significant generational shift in business language and a rapidly evolving landscape of innovation. As the jury carefully evaluates leadership and impact across sectors, they remain objective, often fending off appeals from old acquaintances.
Karnataka to develop KTPO site with convention centre, exhibition halls: MB Patil
Karnataka plans to develop its 48.35-acre KTPO site with new facilities. A global-standard trade and convention centre will be built on five acres. RSP is redesigning the project after studying similar facilities in other cities. The proposed centre will host conventions, product launches, and commercial exhibitions. The government also plans to monetize vacant land near Kundalahalli Metro station.
Pranav Constructions shares make strong D-Street debut, list at 33% premium over IPO price
The Rs 351.03-crore public issue was priced in the range of Rs 118–Rs 124 per share. At the upper end of the price band, the issue price stood at Rs 124 per share. Incorporated in 2003, Pranav Constructions Limited is a Mumbai-based real estate company focused primarily on redevelopment projects in the MCGM region, particularly the Western Suburbs.
Ford Twin Cities Assembly closed in 2011 after building Rangers and Model Ts; demolition crushed 150,000 tons of concrete for backfill and grading on the St. Paul site
The former Ford manufacturing site in St. Paul has been transformed into a vibrant housing community along with a grocery store. For decades, this location produced iconic vehicles like the Model T and Ranger pickup trucks, but the closure of many auto plants from 1979 to 2011 left communities reeling.
Pranav Constructions IPO allotment likely today: GMP signals 32% listing gain. Here’s how to check status
Pranav Constructions IPO investors are awaiting the share allotment update today after the Rs 351.03 crore issue was massively oversubscribed 121 times. The allotment is expected to be finalised on September 11, with the stock slated to list on both BSE and NSE on September 15, 2026.
Pranav Constructions IPO Day 3: Issue subscribed 121 times, GMP at 35%
Pranav Constructions IPO saw an overwhelming investor response, closing oversubscribed 121 times. The issue commands a strong grey market premium, indicating positive market sentiment. Proceeds will fund redevelopment expenses and debt repayment. The company's financial performance showed healthy improvement in FY26. Analysts recommend subscribing for long-term gains and listing appreciation.
Pranav Constructions IPO Day 2: Issue subscribed 18 times, GMP signals 34% listing gain. Should you subscribe?
Pranav Constructions IPO saw strong subscription rates by its second day. The public issue is valued at Rs 351.03 crore, with a price band of Rs 118-Rs 124. Grey market premium indicates a potential listing gain of around 34 percent. Funds will be used for redevelopment expenses and debt repayment. The IPO closes on September 9, 2026, with listing expected September 15.
Pranav Constructions IPO subscribed over 5 times on Day 1. GMP signals 36% upside. Should you subscribe?
Pranav Constructions IPO saw strong investor demand, oversubscribing 5.69 times on the first day. The issue is commanding a 36% premium in the grey market, indicating potential listing gains. The company plans to use IPO proceeds for redevelopment expenses and debt repayment. Pranav Constructions has a portfolio of 65 projects in the MCGM region. Anand Rathi Research recommends subscribing to the IPO for long-term investment.
NCLT approves Shree Naman's Rs 1,800 cr bid for Gstaad, Neo Hotels
The bankruptcy court in Mumbai has greenlit Shree Naman Developers' ambitious acquisition valued at ₹1,800 crore for two hotel establishments. This comprehensive plan allocates ₹1,611 crore to Gstaad Hotels and ₹189 crore to Neo Capricorn Plaza, significantly surpassing the total admitted liabilities of around ₹1,227 crore. The resolution aims to maintain the corporate entities as ongoing operations, reflecting Shree Naman Developers' robust strategy of acquiring distressed businesses via insolvency procedures.
Pranav Constructions announces IPO price band, issue opens September 7. Check details
Pranav Constructions has set the IPO price band at Rs 118-124 per share, with the issue opening on September 7. The Rs 315.6-crore fresh issue and offer for sale will fund the company and selling shareholder, respectively. Focused on Mumbai redevelopment, the company reported 20% revenue growth and 15% profit growth in FY26.
Traders body hail Delhi government report on 'corruption' in Chandni Chowk redevelopment project
A government report has revealed a significant cost escalation in the Chandni Chowk redevelopment project, ballooning from Rs 65.6 crore to Rs 145 crore. Local traders and residents are demanding the dissolution of the Shahjahanabad Redevelopment Corporation and a thorough audit of its decade-long operations.
I-Squared Capital, GMR among players to apply for station redevelopment
The RfQ for redevelopment of Gwalior, Nagpur, Amritsar & Sabarmati was invited in December last year by Indian Railway Station Redevelopment Corporation (IRSDC), the nodal agency for redevelopment of railway stations in the country. The indicative station redevelopment cost for the four projects will be Rs 465 crore, Rs 300 crore, Rs 375 crore and Rs 156 crore respectively.
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