BOOT model approved for tunnel road project
Law and Parliamentary Affairs Minister H K Patil said, 'The Cabinet provided administrative approval to the North-South corridor being planned from Hebbal to HSR Layout Silk Board Junction in two packages at a cost of Rs 17,780 crore.'
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Time of India
44 minutes ago
- Time of India
Allahabad HC directs restoration of Sambhal MP's electricity connection
The Allahabad High Court has directed the Uttar Pradesh Power Corporation Ltd to restore the electricity connection at Samajwadi Party MP Zia-Ur Rehman's house, provided he deposits a permissible amount of Rs. 6 lakhs to maintain his appeal. A division bench, comprising Justice Saumitra Dayal Singh and Justice Sandeep Jain, passed the order on a writ petition filed by the Sambhal MP in the electricity theft case and gave Rehman two weeks to deposit the money. "Submission is that even if the inspection report and adverse facts allegedly found therein are accepted, no jurisdiction arose with the respondent authorities to make assessment for a period of 12 years," the court observed in its June 4 order. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She Was Everyone's Dream Girl In 90's, This Is Her Recently. Investructor Undo "The maximum period for which assessment may have been made could not exceed one year. By breaching the statutory period of assessment, wholly unnatural and arbitrary demand of Rs 1 crore and 91 lakhs has been raised. The petitioner cannot be made to deposit 50% of such illegal demand to maintain an appeal," the court said. The petitioner, Rehman, through its counsel, submitted that he is willing to deposit Rs 6 lakhs to maintain his appeal. Live Events The court granted the Corporation three weeks to file a reply in the matter and fixed the next hearing for July 2. In December 2024, the electricity department imposed a fine of Rs 1.91 crore on the MP following an inspection at his residence in Sambhal's Deepa Sarai area, where the officials allegedly discovered power theft .
Hindustan Times
an hour ago
- Hindustan Times
Mumbai Apple India deal: 5 key facts about the brand's upcoming 12,616 sq ft store in Borivali
Borivali, a locality in Mumbai's western suburbs, has welcomed a high-profile new tenant, the Apple Store at Sky City Mall, developed by listed real estate firm Oberoi Realty. Over the past decade, Borivali has transformed into a premium retail hub, say real estate experts. In addition to the newly opened Sky City Mall (launched in March 2025), the area boasts at least three prominent retail high streets that attract leading global and domestic brands. With this growing commercial presence, 'Brand Borivali' is fast emerging as a strong contender to established retail destinations like Andheri, Bandra, and even South Mumbai. Apple India has leased 12,616 sq ft retail space in Mumbai's Borivali suburb for ₹17.35 lakh monthly rent as it prepares to launch its second store in Maharashtra and fourth in the country, according to documents accessed by real estate data analytics firm Propstack. The lease transaction registered on May 28, 2025, is for a total period of 130 months (nearly 11 years), with a rent escalation of 15% every three years. Apple has also paid a security deposit of ₹1.04 crore as part of the deal. The document showed that the lease has a lock-in period of 10 years and 10 months, effective from the commencement date. Also Read: Apple India leases 8000 sq ft of retail space in Bengaluru for ₹2 crore annual rent as Foxconn facility nears completion The lease agreement signed between Apple India and Oberoi Realty shows that the per sq ft rental for the Apple Store is over ₹137 per sq ft. However, experts opine that the rentals in Sky City Mall are up to ₹1,000 per sq ft. The lower rental in this case is due to revenue sharing between Apple India and Oberoi Realty. The agreement shows that above the per-month rental amount, Apple India will share revenue of 2% with Oberoi Realty for up to 42 months and 2.5% thereafter, starting from the 43rd month. Vikas Oberoi, CMD of Oberoi Realty, said during the company's Q4FY25 meeting in April 2025 that the per-square-foot rental in Sky City Mall is between ₹400 and ₹1,000. The per sq ft rental is different in Sky City Mall for different sizes, depending on the floor. "We have rentals up to ₹1,000 a sq ft on carpet area. So, between ₹400 and ₹1,000, it's something like that. So, it all depends on who is coming in. We have got a very nice gold souk, a special area where we have got all the jewellers there. We have very high-end watches in one segment, so they are very interesting. This is literally one of the best malls I would say in the country, the way it is designed, and the feedback that we get, it's really, really nice. And these are the deals signed at Rs.1,000 carpet," Oberoi had said. The mall is part of the Oberoi Sky City project, developed by Oberoi Realty along the Western Express Highway (WEH) in Borivali East, Mumbai. Spanning a gross leasable area (GLA) of approximately 12.07 lakh sq. ft. (with a leasable carpet area of around 7.24 lakh sq. ft.), the mall is a key component of the 25-acre mixed-use development 'Sky City,' undertaken by Incline Realty Private Limited, a wholly-owned subsidiary of the company. According to a March 2023 research report by Motilal Oswal, around 3,200 families are expected to live in the vicinity, offering easy access to the mall. Its strategic location, with connectivity to both exit points of the Metro line, is expected to boost footfall. INOX has already signed on as an anchor tenant with a 10-screen multiplex, while leasing for the remaining space is underway. The report adds that the mall is expected to stabilise by FY25 and has the potential to generate annual rentals of ₹2.5 billion. Also Read: Mumbai real estate: Apple India leases space in Borivali mall for ₹2 cr annual rent to open fourth store in the country According to real estate experts, Borivali has become a magnet for premium retail, boasting at least three prominent high streets featuring luxury jewellery stores, high-end fashion, watches, footwear, and branded department stores. 'Sky City Mall in Borivali East is already commanding rentals of up to ₹1,000 per sq ft, highlighting the growing demand for quality retail space in the suburb,' said Chintan Vasani, partner at Wisebiz Developers, a real estate firm active in the Borivali-Dahisar belt. 'The mall is poised to compete directly with Borivali's established high streets. We're seeing a ripple effect; brands in Borivali West are already renegotiating rental rates. While this may be a short-term correction, the long-term trend is clear: retail brands will continue to expand in Borivali.' The surge in interest is also driven by rising aspirations and disposable incomes of the area's middle and upper-middle class. 'Local consumers show strong, consistent demand, with luxury watch showrooms offering pieces priced between ₹1 lakh and ₹1 crore,' Vasani added. The redevelopment of ageing buildings is also paving the way for new high streets across the city, not just in Borivali. Mira Road, which is around 30% more affordable than Borivali, currently has a larger number of retail high streets and malls, reflecting shifting demand-supply dynamics. With its expanding retail footprint, 'Brand Borivali' is fast emerging as a strong challenger to traditional retail hotspots like Andheri, Bandra, and even South Mumbai, he said. Also Read: Top real estate deal in Mumbai's suburbs: 4 BHK apartment in Borivali sells for ₹14 crore at ₹56,000 per sq ft According to data from CRE Matrix, 122 leave and license agreements have been registered at Sky City Mall, with around 83 of them recorded in 2025 alone. Notable brands in the mall include Titan, Puma, Skechers, Adidas, Safari, Starbucks, and INOX.
Time of India
an hour ago
- Time of India
Explained: How is Specialised Investment Fund different from mutual funds, PMS, and AIF
Tired of too many ads? Remove Ads What is a Specialised Investment Fund (SIF)? Mutual Funds (MFs) Tired of too many ads? Remove Ads Portfolio Management Services (PMS) Alternative Investment Funds (AIFs) Structure and Regulation Tired of too many ads? Remove Ads Investment Flexibility and Strategy Liquidity and Tenure Who can set up a SIF? With a wide range of investment options today, it's crucial to understand the key differences between vehicles like Specialised Investment Funds (SIFs), Alternative Investment Funds (AIFs), Portfolio Management Services PMS ), and mutual funds—each tailored to distinct investor needs, risk appetites, and return market regulator Sebi has introduced a Specialised Investment Fund (SIF) framework to bridge the gap between mutual funds (MFs) and portfolio management services (PMS), and it aims to provide sophisticated investors with more flexible investment opportunities while ensuring regulatory funds pool money from multiple investors to invest in stocks, bonds, or other securities. They are highly regulated, offer diversification, and are accessible to a wide range of investors, making them one of the most popular investment vehicles. MFs are suitable for those looking for lower risk and ease of offers customised portfolio management to wealthy investors, with a minimum ticket size of Rs 50 lakh. It provides personalised attention, allowing investors to tailor their portfolio based on risk appetite and goals. While providing more control than mutual funds, PMS often carries higher fees and are investment funds pooled privately and involve investments in real estate, hedge funds, private equity, etc. They are open to sophisticated investors with a minimum entry limit of Rs 1 crore. AIFs come in three categories—high-risk, moderate-risk, and lower-risk funds—and are less regulated compared to mutual mutual funds that pool investor money into diversified portfolios, or PMS that provides tailored portfolio management, SIF is a newly introduced investment avenue by the regulator, offering a unique structure and strategy for sophisticated funds in India are regulated by SEBI and follow strict norms regarding transparency, liquidity, diversification, and suitability for retail investors. PMS offers customised portfolio management to wealthy investors where portfolios are managed on behalf of individual clients with a minimum investment threshold currently Rs 50 are pooled investment vehicles for sophisticated investors and are categorised into three types—high-risk, moderate-risk, and lower-risk funds. They are meant for high-net-worth individuals (HNIs) and institutional investors looking to participate in less-regulated, high-risk minimum amount to be invested in an SIF will be Rs 10 lakh per investor. The fund house can offer a SIP and SWP but it must comply with the minimum threshold funds follow standardised asset allocation models and are limited to listed instruments in most cases. PMS offers more customisation, with fund managers directly managing portfolios tailored to the client's profile. AIFs allow flexibility in investing in unlisted securities, structured debt, and real estate, depending on the regulator allows SIFs to offer 3 categories of investment strategies: they are equity-oriented strategies, debt-oriented strategies, and the third is a hybrid category. The current framework allows only one strategy per category per funds provide high liquidity with daily NAVs and redemption options. PMS products are also relatively liquid, though with more constraints compared to mutual funds. AIFs, depending on the strategy, may have multi-year lock-ins and limited exit SIF can be open-ended, closed-ended, or interval-based. The redemption process may include a notice period of up to 15 working days, allowing fund managers to manage liquidity are two routes to establish an SIF. As per the first rule, a fund house must be in operation for a minimum of 3 years with an AAUM of Rs 10,000 crore in the preceding 3 years. The fund house must also have an additional fund manager and must have at least 3 years of experience managing AUM of Rs 500 crore.: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
