26 Jun 2025

The Himachal Pradesh government has appointed retired IAS officer R D Dhiman as Chairman of the state's Real Estate Regulatory Authority (RERA), filling a leadership vacuum since December 2024. Dhiman, a former Chief Secretary and Chief Information Commissioner, is expected to restore efficiency and oversight. Former IAS officer Amit Kashyap has also been appointed as a RERA member. Their appointments aim to boost transparency, project approvals, and homebuyer protection amid rising real estate activity in cities like Shimla and Dharamshala. These strategic moves signal the state's commitment to strengthening real estate governance under the Real Estate (Regulation and Development) Act, 2016.Read more

26 Jun 2025

MO Alternates, the alternative investment arm of Motilal Oswal, has fully exited all 14 investments under its India Realty Excellence Fund II (IREF II), realising INR 1,050 crore and delivering an 18.3% gross IRR. Launched with a INR 489 crore corpus, IREF II focused on structured capital in mid-income housing projects across urban centres. Including reinvestments, the fund deployed INR 680 crore. The exits, completed last week, underscore the firm's strong asset management and timely exit strategy.Read more

25 Jun 2025

U.S. existing-home sales saw an unexpected, slight uptick in May, increasing by 0.8% month-on-month to a seasonally adjusted annual rate of 4.03 million units. However, the pace remains historically slow for this time of year, the weakest May performance since 2009. High mortgage rates, ranging between 6.6% and 6.9%, continue to strain affordability, especially for first-time buyers who only made up 30% of transactions. Inventory rose over 20% from a year ago to 1.54 million homes, while the median price hit a record USD 422,800. Despite more listings, affordability and borrowing costs remain key concerns for buyers and sellers alike.Read more

25 Jun 2025

The Andhra Pradesh government has widened its relaxed building norms to benefit low-rise and small-scale construction projects. Developers can now mortgage 10% of their plot area or use affidavits for government land. Balconies up to 1.5 metres, mandatory CCTV, and clear road width and sewage plant placement norms have been established. TDR bonds will compensate for road widening, while licence validity extends to three years. Small buildings under 50 sqm can be approved for just INR-1. These reforms follow earlier streamlining efforts like single-window clearances and are targeted at reducing red tape and supporting affordable development.Read more

25 Jun 2025

Mumbai, long regarded as India's most expensive housing market, has witnessed a slight improvement in affordability for the first time, following a cumulative 100 basis point reduction in the RBI's repo rate since February. Knight Frank India's latest Affordability Index reveals Mumbai's EMI-to-income ratio dropped to 48%, just below the 50% unaffordability threshold. While affordability improved across most major cities, Delhi-NCR saw a minor dip, and Bengaluru and Hyderabad remained unchanged. Experts believe the softer home loan rates will boost buyer sentiment and potentially drive up sales.Read more

25 Jun 2025

Embassy Developments has signed a Joint Development Agreement for a 17.9-acre land parcel in Whitefield, Bengaluru, to launch a premium residential project spanning 1.6 million sq ft with around 1,000 units. Valued at INR 1,600 crore, this marks a major residential initiative post its merger and rebranding from Indiabulls Real Estate earlier this year. Whitefield remains a hotbed for housing demand, driven by proximity to IT hubs like TCS, IBM, and SAP, and home to projects like Prestige Raintree Park and Sobha Neopolis. With average rental yields at 4% and projected price appreciation of 25-30% by 2030, the area offers strong investment potential.Read more

25 Jun 2025

Chembur is swiftly emerging as one of Mumbai's most promising growth corridors, propelled by the soon-to-be-operational Metro Line 2B that connects DN Nagar to Mandale. Spanning 23.6 km with 20 stations, this corridor enhances the suburb's accessibility to key business hubs and integrates it with Mumbai's wider infrastructure web. Supported by major road and rail networks, Chembur's mobility appeal is attracting homebuyers and investors alike. Property rates have already appreciated by 8% in the past year, and with Phase 1 of the metro nearing completion, a further price increase of 15-20% is anticipated.Read more

25 Jun 2025

MHADA has slashed prices for 6,248 affordable homes in its Shirgaon and Khoni housing projects in Thane. The Shirgaon units now cost INR 19.28 lakh (down INR 1.43 lakh), while Khoni units are priced at INR 19.11 lakh (down INR 1.01 lakh). Available under a First-Come, First-Served model, the revised prices aim to boost homeownership. Separately, MBRRB is concluding its biometric survey of residents in Mumbai's transit camps. The survey, crucial for official registration, began in February. Non-participating residents risk being labeled unauthorized, risking eviction under MHADA Act Section 95(A)(3). The board urges full cooperation to avoid disqualification from future housing benefits.Read more

25 Jun 2025

YEIDA has commissioned a detailed audit of 12 long-stalled housing projects by Jaiprakash Associates Ltd. (JAL) along the Yamuna Expressway, aiming to assess work progress, unit counts, and pending construction. The review, led by consultant firm Currie & Brown, is expected by mid-July. The stalled projects stem from a 2008 land allotment for a sports city, later cancelled in 2020 due to unpaid dues. The Allahabad High Court upheld YEIDA's move, instructing it to safeguard homebuyers' interests.Read more

25 Jun 2025

The Supreme Court has ruled that builders must refund the purchase amount with agreed interest in case of delayed possession but are not liable to reimburse buyers' home-loan interest. The case involved a Mohali project where buyers withdrew due to a 2-3 year delay and sought both the refund with 8% contractual interest and their SBI loan interest. The Court allowed only the contractual interest, stating that developers are not responsible for buyers' private financing. The decision overturns earlier consumer forum rulings and affirms that builders' obligations stem from contracts and statutory terms-not from individual loan burdens taken by buyers.Read more

25 Jun 2025

Actor R. Madhavan and his wife Sarita have leased their 4,182 sq. ft. luxury apartment in Signia Pearl, BKC, Mumbai, to BP Exploration for INR 6.5 lakh per month. The two-year lease, registered on June 11, totals INR 1.60 crore. Signia Pearl, developed by Sunteck Realty, is home to celebrities and top business figures. Located in the Bandra Kurla Complex-Mumbai's premium commercial hub and BFSI hotspot-the area sees high rental demand from senior executives.Read more

24 Jun 2025

NCC Urban Infrastructure Ltd has entered Mumbai's real estate sector with a redevelopment project in Versova, involving 4 lakh sq ft of built-up area and projected revenue of INR 700 crore. Known for operations in cities like Bengaluru, Hyderabad, and Dubai, the company is expanding across western India. Redevelopment is a growing trend in MMR, with other out-of-region developers like Ramky Estates, Kolte Patil, and DLF also entering via similar routes. Mumbai's 25,000+ buildings eligible for redevelopment, along with government incentives and steady housing demand, make the region a lucrative choice. The move aligns with broader goals for affordable housing by 2030.Read more

24 Jun 2025

The Enforcement Directorate (ED) has stepped up action against real estate fraud across India, freezing assets in cities like Delhi. A key case involves the 'Shine City' scam, a ponzi scheme that promised high returns on real estate and other ventures, allegedly swindling investors out of over INR 1000 crore. The ED has frozen INR 277 crore in assets so far. In another case, a Delhi commercial property worth INR 44 crore linked to Bhasin Infotech was attached. Over 100 investors reportedly paid for plots but never received them. These actions reflect the ED's push to tackle fraud and safeguard investor money in the real estate space.Read more

24 Jun 2025

In a significant step towards formalising housing access for the economically weaker sections, Odisha's Housing and Urban Development Department has introduced a structured plan to allot affordable homes on priority to urban poor currently staying in transit shelters across Bhubaneswar. The move, detailed under a newly released SOP, outlines eligibility criteria, verification norms, financial contributions, and prioritisation mechanisms, particularly favouring slum dwellers with no pucca homes and individuals with disabilities. This initiative aligns with the broader push under PMAY-Urban 2.0 and dovetails with 43 recently approved housing projects across 42 Urban Local Bodies (ULBs), aiming to boost urban inclusivity and housing equity.Read more