The Ranchi Municipal Corporation (RMC) has introduced its first regulations for rooftop bars and restaurants to enhance public safety, urban compliance, and environmental responsibility. The draft mandates fire-proof materials, bans rooftop cooking, and requires structural safety certification to prevent hazards. Noise restrictions aim to minimise disturbances, while waste management rules ensure cleanliness. Licensing, annual inspections, and approval fees enforce compliance. Establishments must also follow Jharkhand Building Byelaws and secure necessary NOCs. These regulations balance business operations with public safety and city planning. Public feedback is open until March 27 before the final rules are implemented.Read more

Nexus Select Mall Management, as the trustee manager of Nexus Select Trust, has sanctioned the purchase of MBD Neopolis Mall in Ludhiana from AKM Enterprises at an enterprise value of INR 4,900 million. The deal was done through Select Infrastructure, a special purpose vehicle (SPV) of the trust. The asset covers a leasable area of about 255,666 sq ft and houses the Radisson Blu Hotel MBD on Ferozpur Road. Ludhiana's retail rental space is competitively priced, with prices usually falling in the range of INR 50 to INR 110 per sq ft per month, while ground floor inline spaces are fetching premiums between INR 160 and INR 280 per sq ft per month across categories. The acquisition is in line with Nexus Select Trust's strategic growth in India's increasing organised retail market.Read more

The Greater Hyderabad Municipal Corporation (GHMC) sealed the Taj Banjara Hotel in Banjara Hills over INR 1.43 crore in unpaid property taxes. The hotel, non-operational for two years, made an immediate partial payment of INR 52 lakh, reducing the outstanding amount to INR 91 lakh, which is expected to be cleared by March 10. GHMC has been tightening tax enforcement, surpassing last year's collection by INR 42 crore, with INR 827 crore collected for 2024-25. The action against Taj Banjara underscores the city's strict stance on tax defaulters, impacting commercial properties facing financial or legal challenges.Read more

The Indian hospitality industry is booming as homegrown brands announce major expansions. According to hospitality news and industry insights, foreign tourist arrivals surged by 43.5 percent in 2023, with expectations of 30.5 million by 2028. Q1 2024 saw a 5.5 percent RevPAR growth and over 90 branded hotel signings, primarily in Tier II and III cities. Leading players like Sayaji Hotels, Oyo, and IHCL are expanding across various locations, while government initiatives and infrastructure improvements bolster growth. Intertwined with real estate developments, the sector is poised to reach a market size of $541.70 billion by 2030, driving robust economic activity.Read more

Oravel Stays, parent company of Oyo, has introduced its European vacation home brand DanCenter to the Indian market by launching luxurious villas in Siolim, North Goa. Established in Denmark in 1957, DanCenter manages over 12,000 properties across Scandinavia and Germany and allows homeowners to list on multiple online travel agencies. Oyo's global expansion strategy has included significant acquisitions, such as the US-based G6 Hospitality deal worth USD 525 million, and plans to file its IPO draft soon. In related hospitality news, Brigade Hotel Ventures secured SEBI approval for its INR 900 crore IPO to expand operations amid rising travel demand.Read more

Brigade Hotel Ventures, a subsidiary of Brigade Enterprises, has received SEBI approval for its INR 900 crore IPO, marking a strategic push for growth in India's hospitality sector. The company operates nine hotels across Bengaluru, Chennai, Kochi, Mysuru, and GIFT City, with 1,604 keys under global brands like Marriott, Accor, and IHG. Proceeds will fund expansion amid rising domestic travel demand. JM Financial and ICICI Securities are managing the offering. Brigade aims to strengthen its market presence and capitalize on favorable industry trends as the hospitality sector sees renewed momentum.Read more

The Union Government has set a target of 20 lakh passengers traveling under the Udan scheme by FY26, backed by INR 540 crore in funding for airport revivals and viability gap funding. The Civil Aviation Ministry aims to revive 13 airports, launch 100 new routes, and operate 40,000 flights under the scheme, focusing on hilly areas and the North-East. Since its 2017 launch, Udan has carried 1.5 crore passengers across 619 routes, connecting 88 airports. The expanded version plans to add 120 new destinations over the next decade.Read more

The Madhya Pradesh Tourism Board (MPTB) is seeking private investment to develop eco-tourism destinations, resorts, hotels, and wellness centres at 28 new land parcels and seven heritage properties in the state. The initiative, aimed at enhancing tourism infrastructure, spans across several regions including Mandsaur, Dhar, and Narsinghpur, among others. MPTB hopes to bolster the state's tourism sector by attracting investors to develop diverse locations, ranging from wildlife areas to hills and plains. Additionally, the board is considering the development of new wayside amenities, with 100 centres already operational and plans to add more.Read more

A CBRE South Asia report highlights robust retail leasing in India, with 6.4 million sq. ft. leased in 2024 across top cities. Bengaluru, Hyderabad, and Delhi-NCR led absorption, while fashion, apparel, and D2C brands dominated demand. Foreign brands like Carrefour and AMIRI entered through local partnerships, boosting growth. The retail supply pipeline, including Grade A malls, is set to expand in 2025, driven by demand for mid-range fashion, athleisure, and luxury. Experiential retail, mixed-use developments, and quick-commerce platforms are gaining traction. The sector's growth depends on adapting to consumer expectations, market trends, and technology in the evolving retail landscape.Read more

Retail space leasing in India's top eight cities fell by 10% in 2024, reaching 64 lakh sq ft compared to 71 lakh sq ft the previous year, according to CBRE. Despite the decline, experts foresee significant growth in 2025, with 50-60 lakh sq ft of Grade A malls set to open in Delhi-NCR, Mumbai, Bengaluru, and Hyderabad. While leasing in cities like Hyderabad and Chennai increased, others, including Delhi-NCR and Mumbai, saw declines. Mid-range fashion, athleisure, and jewellery segments continue to drive demand. Innovative retail strategies and evolving consumer experiences are expected to shape a strong revival in the sector.Read more