16 Jul 2025

The Enforcement Directorate (ED) has accused Unitech Group and its promoters of diverting nearly half of INR 16,000 crore received from homebuyers and financial institutions, allegedly using funds for personal gains and routing them into "benami" companies. The ED filed its third chargesheet on July 10, naming Unitech promoter Ramesh Chandra. Over 29,800 homebuyers did not receive houses. The probe, ongoing since June 2018, claims INR 7,794.35 crore was diverted. ED has arranged 105 entities and attached INR 1,621.91 crore in assets.Read more

16 Jul 2025

Property registrations in Maharashtra, including Pune, remained steady in Q1 FY26 (April-June 2025), despite a 3.9% ready reckoner (RR) rate hike on April 1. The state registered 11.33 lakh properties, a 4.51% increase year-on-year, generating INR 12,783.77 crore in revenue, up 2.3%. This indicates the market absorbed the hike without disruption. High-value transactions in urban centers supported revenue. The state revenue minister set a target of INR 60,000 crore for the department this financial year, building on last year's INR 55,000 crore collections.Read more

16 Jul 2025

The Delhi Development Authority (DDA) is set to launch its Premium Housing Scheme 2025, offering 177 residential flats and 67 garages via e-auction in prime Delhi locations. Concurrently, the DDA has approved reforms for commercial real estate, including reducing amalgamation charges from 10% to 1% of the circle rate and lowering the auction multiplication factor from twice to 1.5 times. These changes aim to boost investment and make Delhi more competitive. Additionally, the DDA approved rent facilitation for Signature View Apartments residents during reconstruction, and is developing an education hub and sports complex in Narela.Read more

15 Jul 2025

The Andhra Pradesh government has introduced the Self-Certification Scheme (SCS) 2025 to streamline building permissions. The scheme allows instant online approvals for non-high-rise residential projects on plots up to 4,000 sq.m, and for White Category industries up to 500 sq.m. Under SCS 2025, construction can begin immediately after fees are paid, with licensed technical personnel (LTPs) responsible for compliance. This aims to boost real estate growth by fostering a trust-based mechanism, reducing compliance burdens, and is integrated into state building rules, aligning with central government capital investment initiatives.Read more

15 Jul 2025

The Allahabad High Court has asked the Noida Authority to explain why occupancy certificates (OCs) were issued for towers at Lotus Boulevard in Sector 100 despite incomplete sewage treatment systems. A petition by the Apartment Owners' Association revealed that only 1.5 out of 4 required sewage treatment plants (STPs) were built when OCs were granted in 2012 and 2016. The court has demanded a sworn affidavit detailing the required and existing STPs, who approved the OCs, and whether any fixes have been made. A senior Noida Authority official must also appear in the next hearing, which is scheduled for mid-July.Read more

15 Jul 2025

Dwarka Expressway in Gurugram has witnessed a remarkable 153% jump in property prices over the past five years, with average high-rise rates now touching INR 14,342 per sq. ft., as per MagicBricks. The stretch's strategic connectivity-linking Delhi to Gurugram-alongside robust infrastructure upgrades such as tunnels, metro corridors, and expressway links, is drawing heightened demand from homebuyers. Developers plan to introduce over 25,000 residential units in the next three years. A series of multimodal transport initiatives are further boosting its prospects as a high-growth investment zone.Read more

15 Jul 2025

Residential property prices in micro-markets near operational and upcoming airports in Bengaluru, Hyderabad, Navi Mumbai, and Greater Noida have registered a substantial increase of 70-120% over the last four years, as reported by Square Yards. The real estate consultancy attributed this surge to improved connectivity and infrastructure in airport-adjacent corridors. Residential plots in these areas experienced even sharper hikes, reaching up to 118% growth, significantly outperforming city-wide averages. The findings underscore the growing influence of airports in shaping real estate appreciation across India.Read more

15 Jul 2025

Delhi-NCR witnessed a substantial surge in luxury housing transactions, recording sales of 3,960 homes priced at INR 6 crore and above during the first half of 2025, marking a threefold increase compared to the same period last year. A CBRE-Assocham report highlighted a broader 85% year-on-year rise in high-end residential sales across India's top seven cities, with nearly 7,000 units sold. Mumbai and Delhi-NCR remained the frontrunners, with noteworthy contributions also from Bengaluru, Chennai, and Kolkata, despite minor dips in Hyderabad and Pune.Read more

15 Jul 2025

Following a 2023 petition, the GDA has demanded demolition of 172 homes in Rajendra Nagar, alleging that the long-standing colony occupies former parkland. The NGT has required a detailed action report by late July, with the next hearing scheduled for 29 August. While authorities defend their actions based on a government-directed survey, residents argue that official approvals were granted decades earlier. The development highlights ongoing tensions between urban growth, environmental mandates, and housing rights in Ghaziabad.Read more

14 Jul 2025

Dubai's residential property market witnessed unprecedented momentum in the first half of 2025, led by a sharp rise in villa demand. The total value of villa sales climbed 65% year-on-year to AED 118.5 billion (USD 32.27 billion), with transaction volume rising 55% to 20,415 deals. Apartment sales also recorded double-digit growth, with value increasing 21% to AED 144.2 billion (USD 39.27 billion). Overall, the combined residential sales value reached AED 262.7 billion (USD 71.52 billion), marking a 38% surge over the previous year.Read more

14 Jul 2025

TGRERA has suspended operations on the Shrivaris Brundavanam housing project due to stalled construction-around 35 percent complete and unfulfilled possession promises. All promotional and sales activity has ceased, and the developer must provide full buyer lists, financials and a detailed completion schedule ahead of a tribunal. This reflects TGRERA's broader enforcement approach: ordering refunds with interest for non-delivery in unregistered projects, penalising promoters and real estate agents, and mandating completion of delayed developments. The authority is taking firm action to hold developers accountable and protect homebuyer interests.Read more

14 Jul 2025

The Telangana Real Estate Regulatory Authority (TG RERA) has fined real estate agent Jakkepalli Sri Lakshmi INR 6.17 lakh for promoting an unregistered project and impersonating the builder in transactions. The case involved a buyer couple who transferred over INR 1.2 crore for two flats, but only INR 44.9 lakh reached developer Aaditri Housing. RERA found fabricated receipts and directed Aaditri Housing to complete and register the flats, warning of further penalties for delays. This action underscores RERA's crackdown on fraudulent real estate practices.Read more

14 Jul 2025

Maharashtra Chief Minister Shri Devendra Fadnavis is scheduled to hand over keys to the first 556 BDD flats in Worli, Mumbai, on July 21. These 500 sq ft homes are for tenants previously in transit accommodations as part of the BDD chawls redevelopment. MHADA, the nodal agency, expects to distribute 3,989 flats across three sites by year-end. Despite project delays leading to a INR 13 crore penalty for the contractor, authorities are keen to expedite rehabilitation, with occupancy certificates for the initial units expected soon.Read more

13 Jul 2025

Peninsula Land Ltd. has acquired 28 acres of land in Alibaug and 3.5 acres in Karjat, Maharashtra, for residential developments, expecting to generate a combined revenue of INR 1,500 crore. These acquisitions align with the company's strategy to expand its land bank in key Mumbai Metropolitan Region (MMR) peripheral locations. The move capitalizes on the growing demand for second homes and plotted developments in these popular weekend destinations. The company aims to develop projects in high-growth corridors, building on recent acquisitions like 55 acres in Panvel.Read more