City Delhi Financial News

Hero Realty Pvt Ltd plans to launch real estate projects spanning around 4 million square feet in this financial year, with an estimated revenue potential of Rs 3,500 crore, said its CEO Dharmesh Shah. The company, backed by Sunil Kant Munjal's Hero Enterprise, is also considering an initial public offering (IPO) in the next three-four years, Shah told ET. With a focus on residential development, Hero Realty aims to invest Rs 1,000-1,200 crore in this fiscal, he said.

Mumbai, the city's IMD regional centre has issued a 'yellow alert' for next three days, predicting heavy to very heavy rainfall at isolated places. The Regional Meteorological Centre has issued a 'yellow alert' for Mumbai from Wednesday to Friday i.e. from 5-7 July.

Supreme Court's intervention in curbing the «drastic powers» of the Enforcement Directorate (ED) in money laundering probes, as he appeared for arrested M3M group directors Basant Bansal and Pankaj Bansal. «See how the arrest was done. They were cooperating.

Air India and Vistara have told the Competition Commission of India (CCI) that there will be no adverse impact on competition due to their merger as rivals are present on most routes that the combined entity will fly, said people with knowledge of the matter. The CCI's scrutiny will not have any material business impact, although it could have an effect on the timeline, they said.

Press Trust of India quoting  party sources. The report said that BJP Khammam town vice president G Srinivas allegedly attempted to commit suicide at his house in Khammam and his family members took him to a hospital after noticing him lying unconscious with a rope around his neck.  Srinivas has been shifted to a hospital and his condition is stated to be out of danger, said the report quoting  sources.

Mint exclusively reported on 29 June that the civil aviation regulator will conduct an audit of the airline next week to assess its preparations for the launch. Go First has sought approval for restarting operations. A team of officials from the Directorate General of Civil Aviation (DGCA) started the special audit of the facilities of Go First in Mumbai on Tuesday, according to an airline executive.

NEW DELHI : The Delhi bench of National Company Law Tribunal (NCLT) on Tuesday adjourned the ongoing case involving aircraft engine lessor Willis Lease Finance Corporation’s petition to initiate the corporate insolvency resolution process against SpiceJet. The matter is now scheduled to be taken up by the tribunal on July 21. While doing so a bench led by Justice Mahendra Khandelwal questioned the maintainability of the petition since a similar petition was already filed by the lessor in May this year.

₹155 per kg across major cities in the country due to the supply disruption caused over heavy rains amid monsoons in the producing region, according to official data. In metro cities, retail tomato prices were ruling in the range of ₹58-148 per kg, with the highest in Kolkata at ₹148 per kg and lowest in Mumbai at ₹58 per kg. In Delhi and Chennai, prices were ruling at ₹110 per kg and 117 per kg, respectively.

Real estate consultant Knight Frank India said housing sales have dipped 1 per cent to 1,56,640 units in January-June from 1,58,705 units in the year-ago period. In contrast, gross office space leasing increased 3 per cent to 26.1 million square feet from 25.3 million square feet. c The period also witnessed second-highest half-yearly residential sales volume in 9.5 years.

Supreme Court on Tuesday was told that the Enforcement Directorate (ED) has been given «drastic powers» in investigating money laundering cases and these powers need to be reined in. A bench of Justices AS Bopanna and MM Sundresh was hearing a batch of pleas relating to Gurugram-based realty group M3M under the Prevention of Money Laundering Act (PMLA). Senior advocate Harish Salve appearing on behalf of directors of realty group M3M said, «These are drastic powers given to the ED.

CM Chouhan said that the National Security Act (NSA) would be slapped against the accused. Taking to microblogging site Twitter, CM Chouhan wrote, “A viral video of Sidhi district has come to my notice... I have instructed the administration to arrest the culprit and take strict action and also impose NSA." The video also drew sharp criticism from the opposition leaders in Madhya Pradesh.

National Green Tribunal (NGT) has formed a panel to monitor the implementation of the recommendations for checking air pollution in and around the All India Institute of Medical Sciences (AIIMS) here in a time-bound manner. While entrusting the responsibility of adopting the measures required to reduce air pollution inside the campus to the medical institute's director, the tribunal has also constituted a separate panel to study identical issues at several other government hospitals in the national capital and issue appropriate Standard Operating Procedures (SOPs).

Supreme Court on Tuesday deferred the oath taking of DERC chairperson-designate Justice (retd) Umesh Kumar, while deciding to examine the constitutional validity of a provision of the Centre's recent ordinance governing such an appointment. The top court also issued notices to the Centre and the office of Lieutenant Governor V K Saxena on the plea of the Delhi government which also challenges the June 21 notification of the Union Ministry of Home Affairs appointing Justice Kumar as the DERC (Delhi Electricity Regulatory Commission) chairperson.

tomato prices. The price of the kitchen staple has soared from Rs 15 per kg in early May to a mind-boggling Rs 120-150 per kg now in various regions across the country. Household budgets are going haywire as online vegetable-selling apps too have seen rates jumping, with Blinkit selling tomatoes at Rs 150 per kg, news agency IANS reported on Tuesday.

₹130 to ₹59,280 per 10 gram in the national capital on Tuesday amid strong global cues. The yellow metal had ended at ₹59,150 per 10 gram in the previous trade. Silver also jumped ₹100 to ₹71,300 per kg.

Gold price edged higher by Rs 130 to Rs 59,280 per 10 gram in the national capital on Tuesday amid strong global cues, according to HDFC Securities. The precious metal had ended at Rs 59,150 per 10 gram in the previous trade.Silver also jumped Rs 100 to Rs 71,300 per kg.

Gurugram, leading to waterlogging in many parts of the city. Private weather forecaster said that many parts of NCR, including Gurugram, could also see heavy rainfall tomorrow as well. «Intensity may increase by tomorrow and entire Delhi may get good rain,» Mahesh Palawat, vice president Meteorology and climate change said in a tweet.

Q2 as compared to the last quarter, mentioned a latest report by Cushman & Wakefield. According to the report, the office realty sector continues to witness a positive demand momentum with the half-yearly gross leasing volume standing at 33.1 msf, accounting for 46% of full year volume recorded in 2022 that was a historic high. Anshul Jain, Head of APAC Tenant Representation and Managing Director, India & South East Asia, commented – “India’s office real estate market continues with its growth momentum. A significant reason for its ability to buck the global recessionary headwinds is the rise in domestic demand. The entry of new GCCs and the ongoing expansion of the manufacturing and flex space segments are also helping the office sector widen its demand base. We can expect the exuberance seen last few quarters in office real estate to continue, if the momentum holds.” According to the report, Delhi NCR recorded the highest leasing volume of 3.6 msf which is 24.8% higher than the Q1-23 volumes. Pune and Bengaluru also recorded healthy leasing volumes of 3.1 msf & 3.0 msf respectively. Hyderabad, meanwhile, witnessed an impressive 61.7% Q-o-Q growth with the total leasing volume standing at 2.6 msf,” the report mentioned. The IT-BPM sector is the biggest contributor with 31% share of the total leasing volumes i.e around 5.3 msf. The flexible space, as an emerging asset class has a special role to play, the report further highlights. In H1-23, this segment once again contributed 13-14% to India’s GLV. With close to 15,700 seats take-up by enterprises in Q2, H1-23 saw total absorption of 36,500 seats across top-8 cities.

GoFirst airline have been grounded since 3 May and flights had previously been cancelled till 28 June.dgca The aviation regulator Directorate General of Civil Aviation (DGCA) will conduct an special audit of crisis-hit Go First's facilities in Delhi and Mumbai from July 4 to 6, reported PTI. The regulator will conduct the audit before approving the revival plan for the resumption of flights, the report added.

Airtel Payments Bank, a FASTag issuer, has collaborated with Park+ to enable FASTag-based smart parking solution at Varanasi's Lal Bahadur Shastri Airport. The FASTag-based smart parking solution enables automatic cashless payments at airport parking, making vehicle movement in the parking zone frictionless and time efficient.

New Delhi: Several parts of the national capital are likely to see moderate to heavy showers in the next couple of hours, the India Meteorological Department (IMD) said on Tuesday. “Intense cloud patch entering into Northwest Delhi likely to cause moderate to heavy spell over Northwest, Central and Southwest Delhi during next 1-2 hours," the weather office said.