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Real Estate News, Property Prices, Housing, Commercial Development | The HinduBusinessLine

Sobha Q4 profit up at ₹92 cr; FY26 profit rises 2 times to ₹193 cr Godrej Properties FY26 profit rises 32% to ₹1,850 crore, stock gains WeWork India opens Aerocity centre, adds 1.1 lakh sq ft in Delhi-NCR Listed realty firms tighten grip on land deals as market consolidates in FY26 Concorde leases 1.4 lakh sq ft to BHIVE at Bengaluru’s Econex Ramky Estates takes over ₹2,000-crore stressed residential projects from Skylark Builders in Bengaluru Brigade, Bain Capital to develop ₹2,200 crore mixed-use project in Bengaluru Cognizant pre-leases 6.5 lakh sq ft in Chennai to set up GCC for US Bancorp Strong leasing boosts Mindspace REIT’s Q4 performance Embassy REIT eyes 10–12 msf acquisitions; demand tailwinds support growth MICL Group acquires 2 projects in South Mumbai with sales potential of ₹2,000 cr Mahindra Lifespace pre-sales rise 21% to ₹3,405 crore in FY26 on strong housing demand Maharashtra amends sand policy, deploys flying squads to curb illegal mining DRA partners with California-based Slate AI for AI-led construction management GIFT City to expand its area by 15%; over 161 acres to be added Real estate shifts to delivery-led growth as RERA tightens norms: NBR Group Meghna Infracon to invest ₹500 cr on five redevelopment projects in Mumbai region Domestic capital drives 76% of India's real estate investment, foreign inflows stay muted: Report Nvidia inks 10-year lease for 7.6 lakh sq ft office space in Bengaluru Office market shines in Jan-Mar despite global headwinds; net leasing up 7% in top 7cities: JLL Mehul H Doshi assumes charge as president of CREDAI Chennai for 2026–2028 Sales of affordable homes down 23% in Jan-Mar to 16,273 units in top 8 cities: Knight Frank India real estate demand remains stable in Q1 despite launch slowdown: Equirus Lodha Developers bets on data centres and low leverage as it targets sustained growth after record FY26 Real estate deals down 63% to $763 mn in Jan-Mar against Dec quarter: Report Chalet Hotels acquires Udaipur resort for ₹171 crore Bengaluru’s next real estate boom to be driven by expansion of metro lines Sunteck Realty Q4 pre-sales rise 22% to ₹1,064 cr Capital inflows in Indian real estate rise 72% to record $5.1 billion in Jan-Mar: CBRE Table Space adds 4.25 lakh sqft in Mumbai, Pune Asset Homes charts road map for FY27; to launch 28 projects Prestige Estates sells over 1,700 housing units in Hyderabad for more than ₹2,500 cr Welspun One leases 2.10 lakh sq ft of warehousing space at JNPA SEZ to Indev Infra PNB Housing Finance posts higher profit on robust loan growth, asset quality boost Welspun leases 4.6 lakh sq ft office space in Pune’s Hinjewadi Vedaanta Senior Living expands footprint in Kerala with Kottayam project Office market stabilising; vacancies to decline marginally, rents to rise: Nuvama Adani arm sets up three hotel, real estate airport city units KG Builders launches commercial project KG One Global in Chennai’s Adambakkam PE investment in India real estate jumps to USD 637 million in Q1 2026, led by office assets Signature global partners tonino lamborghini for Rs 2,900 crore luxury housing project in gurugram India's top 8 cities see 24pc dip in net office leasing in Jan-Mar on lower demand: C&W Mindspace REIT acquires 51% stake in Chennai IT park for ₹3,000 crore Lodha Developers expects ₹2 lakh crore revenue from monetisation of land bank RMZ to deploy $35 billion across Data Centres, AI infra and commercial real estate; eyes IPO RMZ to invest $35 billion to build digital infra, housing, commercial projects, exploring IPO Sumitomo Corp JV firm Krisumi to invest ₹4,500 cr on housing project in Gurugram Signature Global cuts net debt by 77% to ₹200 crore in FY26 Malls, high-streets in NCR clock 45% rise in leasing of retail spaces in Jan-Mar: C&W Godrej Properties reports record ₹34,171 crore sales bookings in FY2026, up 16% IBBI panel suggests project-centric approach for real estate insolvency resolution Chalet Hotels activates cost saving steps, growth plans remain intact: CEO Shwetank Singh HoABL launches 1% monthly payment plan for Naigaon housing project, backed by Amitabh Bachchan Signature Global FY26 pre-sales down 20% to ₹8,220cr amid slow demand in Gurugram housing market ASK Property Fund exits two realty investments for ₹400 crore Prestige Estates crosses ₹30,000 crore pre-sales in FY26 Office transactions see record growth in Q1, residential sales decline: Knight Frank report Housing sales dip 4% annually in Jan-Mar in 8 cities on high prices, Iran war: Knight Frank Rustomjee posts record pre-sales of ₹1,346 crore in Q4, beats full-year guidance IIFCL to double InvITs exposure to ₹6,000 cr this fiscal CapitaLand Investment Ltd outlines 23 m sq ft India pipeline across business parks, logistics Builders’ Association of India appoints Dharmesh Awasthi as president Raymond Realty Q4 pre-sales jump over 2-fold to ₹1,519 cr Large corporates drive India’s flex workspace boom: Knight Frank report Foreign fund inflow in Indian real estate falls 75% in Jan-Mar amid West Asia conflict: Colliers MAIA Estates lines up ₹7,000 crore pipeline, plans Mumbai entry Mindspace REIT expands Chennai presence with ₹2,541 crore office acquisition Prologis commences 1.1 million sq ft logistics park in North Chennai Housing sales in Delhi-NCR dip 17% in Jan-Mar amid West Asia conflict: Anarock Aditya Birla Real Estate expects ₹1,700 cr revenue from 1st housing redevelopment project Housing sales in Jan-Mar dip 7% from Dec qtr due to West Asia conflict, up 9% annually: Anarock Prestige Estates, Arihant Group buy land in Chennai to build ₹5,000 cr worth housing project Workspace provider Table Space adds 4.69 lakh sq ft in Bengaluru Office leasing up 15% in Jan-Mar to 18.3 mn sq ft across top 7 cities: Colliers Puravankara plans ₹55,000 crore project pipeline across South India and Mumbai ASK Property Fund exits Mahagun Group’s Noida Project with 21% return 65% of Indian firms plan flexible workspaces by 2027: CBRE-FICCI Report Housing sales to remain soft unless developers shift focus from luxury to mid-income segment: Nuvama Godrej Properties, Lodha acquire over 25 land parcels in FY26 to build homes, eye ₹1 lakh cr revenue NCLT allows withdrawal of insolvency proceedings against ATS Knightsbridge under section 12A India among key APAC markets as global real estate investment volumes rise 8.2% in 2025: Colliers IndiQube Spaces leases 1,140 desks in Pune to GCC client, expects ₹54 crore in revenue InVITs’ asset to grow ₹1 lakh crore in FY26: CareEdge Mahindra Lifespaces expands in Mumbai with ₹3,000 Cr residential project HCC wins Rs 1,662 crore BMC contract for Goregaon-Mulund Link Road Phase IV Godrej Properties acquires 20-acre Bengaluru plot, eyes ₹1,350 crore revenue Avante spaces to develop 1.7 million sq ft commercial business park in Pune NCLAT restores insolvency appeal against Dilip Buildcon Amrutanjan held Mylapore Kapaleeswarar Temple land till 2018; ₹9.74 crore dues: HR&CE tells HC DRA Homes acquires 3.91 acres in Karanai for ₹49.70 crore; plans ₹500 crore residential development Naredco partners with realty portal Magicbricks for research, market intelligence in property sector Career mobility drives tenant churn in India’s top rental markets Smaller towns to play big role in Indian housing market's next growth cycle: Square Yards Gaurs Group pre-sales up 12% to ₹5,347 cr in Apr-Dec on strong housing demand KG Builders launches two plotted communities in Western Chennai; ₹400-crore GDV India’s listed REIT market surges six-fold to ₹1,726 billion since FY20 Godrej Properties buys 44-acre land in Coimbatore, expects ₹450 cr revenue from sale of plots Brigade Group enters into industrial real estate with 25-acre development in Devanahalli NCLAT junks Reliance Realty's plea for insolvency against Altruist Customer Management Alligator Automations opens new office in PCMC industrial belt
Gujarat Assembly passes amendment to curb illegal property transfers in specified areas
By PTI · 2026-03-26 · via Real Estate News, Property Prices, Housing, Commercial Development | The HinduBusinessLine

After a heated debate over demographic shift and safeguard for a particular community, the Gujarat Assembly on Wednesday passed an amendment Bill to a 1991 Act that aims to curb illegal property transfers and strengthen safeguards for lawful owners.

The Bill to amend the Gujarat Prohibition of Transfer of Immovable Property and Provision for Protection of Tenants from Eviction from Premises in the Disturbed Areas Act, 1991, was passed through a voice vote on the last day of the budget session.

Government cites need to prevent forced migration

Pitching the Bill as a necessary safeguard for a particular community, Minister of State for Revenue Sanjaysinh Mahida, who introduced the legislation, invoked historical attacks on Sanatan Dharma and warned against forced migration driven by “Land Jihad” and “Love Jihad”.

“For thousands of years, to escape the torture of oppressors, to save themselves from ‘Land Jihad’ and ‘Love Jihad’, and to keep their glorious Sanatan Dharma heritage intact for their coming generations, the majority society has continued to migrate,” he told the House.

The Opposition Congress refused to extend its support to the Bill, leading to a heated debate over communal harmony and demographic shifts.

Key changes: ‘specified area’, wider powers

The amendment was necessitated after authorities observed properties being transferred in violation of existing provisions, allowing unscrupulous persons to gain illegal possession.

A key provision of the newly passed amendment Bill replaces the term “disturbed area” with “specified area” across the Act, which used to be known as Disturbed Areas Act.

It expands the state government’s power to notify regions, allowing it to declare areas prone to disturbance and involuntary displacement due to communal tensions, rather than relying solely on a history of riots or mob violence.

Wider definition and stricter scrutiny process

Furthermore, the legislation introduces a clearer definition of a “person aggrieved” to include not just the buyer and seller of a property, but any resident living within the notified specified area. Now, a third person can also register his objection against any property deal in the specified area.

The Bill significantly strengthens the scrutiny process. The district collector will now conduct a formal inquiry before granting sanction for a property transfer, assessing factors such as the free consent of parties involved, fair market value, and the likelihood of a breach of public order.

Provisions to address illegal transfers

To deal with illegal transfers, the amendment mandates that if a transaction is declared void, the transferee must restore possession within six months. If the original owner fails to take back possession, the collector is empowered to assume temporary custody of the property, minister Mahida said.

Debate over demographic changes in Ahmedabad

Highlighting demographic shifts in Ahmedabad, he cited areas like Danilimda where numerous Hindu-majority societies have seen their populations deplete.

Mahida stated the “specified area” tag ensure individuals are not forced into involuntary migration.

“To review the status of the Act and make the existing provisions more effective, to stop forced transfers of immovable property, and to prevent the illegal occupation of innocent people’s property by headstrong individuals, with such noble intentions, I present this Bill proposing amendments to the current provisions,” he said.

New committees and investigation mechanisms

The Bill introduces new mechanisms, including a Monitoring and Advisory Committee and a Special Investigation Team (SIT), to assess ground conditions and assist in decision-making regarding declaration of specified areas.

BJP backs Bill citing historical incidents

Supporting the legislation, BJP MLA from Ahmedabad, Amit Shah, traced the Act’s origins to the 1985 anti-reservation riots, recalling the burning alive of seven people from the Dabgar community in a closed house in Old City area.

Pointing to deep demographic changes, Shah drew parallels with Kashmir and the historical disappearance of Parsis in Iran following demographic influxes.

“In my friend’s area of Jamalpur, there are 24 ‘Pols’ where the population was once 100 per cent Hindu. Today, there isn’t a single Hindu left even for namesake,” the ruling party MLA stated.

He recounted instances where a particular community was forced to relocate a 350-year-old Jain temple and an Ambaji shrine, framing the amendment as a firm resolution to ensure citizens of Ahmedabad remain safe in their own homes.

Congress questions rationale, raises concerns

The Congress strongly contested the government’s narrative, questioning the perpetuation of a law originally designed in 1986 as a temporary, stop-gap measure.

Congress MLA Imran Khedawala pointed out a glaring contradiction in the ruling party’s claims of a riot-free state.

“If there is indeed complete peace, why is the Disturbed Areas Act being expanded and imposed on new areas?” Khedawala asked, noting the law’s application has widened from Ahmedabad to 744 areas across Gujarat, including small villages.

Rejecting the BJP’s claims of forced migration and usurped properties, Khedawala challenged the government’s premise.

“If properties were taken by force, why hasn’t a single FIR been registered in any police station? The reality is that whatever properties or houses were sold in these societies and pols, they were sold with the mutual consent and understanding of both the buyer and the seller,” the Congress MLA insisted.

Other Bills passed during session

The Assembly passed two more Bills on the last day of the Budget session.

The Gujarat Clinical Establishments (Registration and Regulation) (Amendment) Act, 2026, and the Gujarat Educational Institutions Services Tribunal (Amendment) Act, 2026, were passed unanimously with the Opposition support.

Under the original Act meant for clinical establishments, registration of institutions ranging from small clinics to multi-specialty hospitals and laboratories was mandatory. As on March 20, about 41,000 temporary and 2,000 permanent registrations have been done in the state.

Earlier, the time limit for registration was till April 30. As per the new amendment, institutions will have to apply for registration within the time limit fixed by the government.

Published on March 26, 2026