Piramal Capital sells Mumbai commercial building for Rs 1.87 billion

08 Oct 2024 CW Team

Piramal Capital and Housing Finance Ltd (PCHFL) has sold the Napha Building, a standalone office tower in Mumbai’s Kalina locality, to Shoquba Realty for Rs 1.87 billion. The property, previously owned by Dewan Housing Finance Corporation Limited (DHFL), features a built-up area of 77,079 square feet and includes two basements, a stilt area, three podiums, and eight upper floors.

The transaction was finalised on September 27, 2024, through a deed of transfer, as per documents accessed via real estate data analytics firm Propstack. The buyer has paid a stamp duty of Rs 112.2 billion for the deal's registration.

Piramal Enterprises confirmed the sale through a regulatory filing, clarifying that the buyer is not related to the promoter group or affiliated companies. The company further stated that the transaction does not fall under the category of related party transactions. (ET)

Infrastructure Urban

03 Apr 2026

Centre Disburses Over Rs 24,610 mn in XV Finance Commission Grants

The Union Government has released XV Finance Commission tied grants during the financial year 2025–26 to rural local bodies in Chhattisgarh, Gujarat, Madhya Pradesh, Punjab and Sikkim and has released withheld portions of tied and untied grants to Himachal Pradesh, Odisha and Tripura. The total disbursal exceeded Rs 24,610 mn, with figures expressed in million (mn) thereafter. The releases cover allocations pertaining to different financial years and aim to strengthen rural local governance. State-wise disbursements included Rs 3,324.6 mn for Punjab, Rs 9,432.7 mn for Madhya Pradesh, Rs 3,47..

Centre Releases Over Rs 15 bn as XV FC Grants to Rural Bodies

The Union Government has released over Rs 15 bn in grants recommended by the Fifteenth Finance Commission (XV FC) to strengthen Panchayati Raj Institutions (PRIs) and Rural Local Bodies (RLBs) in six states. The funds comprise tied and untied grants disbursed in FY 2025–26. Telangana received Rs 2.48 bn as the first instalment of untied grants for FY 2025–26, benefitting 12600 Gram Panchayats (GPs). Uttarakhand received Rs 913.1 mn as the second instalment and an additional Rs 18.4 mn of a withheld first instalment was released to a further 216 GPs. Mizoram is included among beneficiary st..

Government Assures Fuel Supplies And Seafarer Safety Amid West Asia Developments

The Government of India has stepped up coordinated measures to maintain stability in critical sectors as developments in West Asia continue to unfold. It has prioritised uninterrupted energy supplies, safeguarded maritime operations and extended consular assistance to nationals. Central authorities are working with State and Union territory administrations to ensure timely information dissemination and operational continuity. Refineries are reported to be operating at high capacity with adequate inventories of petrol and diesel, and domestic LPG production has been increased to support consump..