24 Jun 2025

The Maharashtra government has released a draft of updated rules for co-operative housing societies, aiming to simplify governance, enhance transparency, and modernise procedures. Key changes include doubling the registration fee to INR 5,000, equal maintenance charges for all flats, and reduced penal interest on dues from 21% to 12%. A new provisional member category allows nominees of deceased members to vote until ownership is officially transferred. Societies must maintain multiple dedicated funds and can now secure redevelopment loans up to 10 times the land value. Virtual meetings are permitted, and commercial shops gain formal participation rights. The reforms will impact over 1.25 lakh societies statewide.Read more

23 Jun 2025

Housing sales in India's top nine cities fell below 1 lakh units for the first time since Q3 2021, with 94,864 units sold in April-June 2024-a 19% drop year-on-year, says PropEquity. New launches also fell 30% to 82,027 units. Cities like Mumbai, Thane, Pune, Hyderabad, and Navi Mumbai saw steep declines, while Bengaluru and Kolkata had milder drops. Delhi-NCR and Chennai bucked the trend with sales rising 16% and 9%, respectively. Analysts suggest the slowdown signals a market correction, with developers cautious amid unsold inventory and changing buyer behaviour. The trend reflects an evolving landscape in India's post-pandemic housing market.Read more

23 Jun 2025

Proptech startup Reloy, backed by HDFC Capital, reported a revenue jump to INR28.5 crore in FY 2023-24, up from INR17.8 crore the previous year. The growth was driven by strong housing demand and a 50% boost in its referral sales business. Founded in 2015, Reloy offers a B2B2C platform helping builders manage customer and broker relationships, while also providing services like home interiors, financing, and post-purchase support. The company works with top developers across India and has raised INR13 crore so far. With tech adoption rising, India's proptech sector is booming-valued at $10.5 billion and projected to hit $600 billion by 2047.Read more

23 Jun 2025

The Surat Municipal Corporation (SMC) has issued a strict order targeting 151 apartments across three societies-Casa Riviera, KPM Terra, and Celestial Dreams-for lacking valid Building Use Certificates (BUCs). These high-rises reportedly violate safety norms and height regulations set by the Airports Authority of India (AAI), with action intensified after a recent aircraft crash in Ahmedabad. Residents have been given just three days to vacate, after which water and drainage services will be cut off. BUCs confirm a building's compliance with safety codes and approved plans, and living without one can pose legal and safety risks. The move underscores SMC's push for stricter urban safety enforcement near airport zones.Read more

23 Jun 2025

Goldman Sachs has forecast a long-term decline in China's property market, with annual new home demand expected to fall below 5 million units-far from the 2017 peak of 20 million. The downturn, deepened by stalled projects and heavily indebted developers, has eroded buyer confidence since 2021. Official data shows home prices continued to slide in May, despite repeated policy interventions. Goldman also notes a sharp drop in demand from demolition-driven construction and a potential rise in investment-related home sell-offs. With household wealth tied to real estate dropping from 80% to 70% by 2025 and 80 million flats lying vacant, China's property crisis is reshaping both consumer sentiment and economic fundamentals.Read more

23 Jun 2025

Sweden is set to relax its mortgage lending rules early next year to help first-time homebuyers enter the housing market more easily. Under the proposed changes, buyers will be allowed to borrow up to 90% of a property's value�up from the current 85%. Additionally, the requirement for borrowers with high debt levels to repay 3% of their loan annually will be scrapped. Housing Minister Andreas Carlson emphasized the need to balance affordability with financial stability. The move aims to support young families and first-time buyers amid growing concerns over housing access, without compromising safeguards against excessive household debt or market overheating.Read more

Mr. Chintan Sheth, Chairman and Managing Director, Sheth Realty

23 Jun 2025

The central suburbs of Mumbai, particularly Sion and Mulund, are rapidly emerging as high-demand housing destinations, driven by robust infrastructure development and expanding metro connectivity. The introduction of new metro lines, including the Aqua Line and upcoming Line 4, has significantly enhanced access to key business districts, spurring residential interest and capital appreciation. These areas offer improved commute times, upgraded amenities, and redevelopment-led luxury housing, making them appealing to professionals and families alike. With the upcoming Navi Mumbai International Airport, central suburbs are strategically positioned for further growth and rising property values.Read more

23 Jun 2025

The Prayagraj Municipal Corporation (PMC) is preparing to launch a redevelopment initiative across 88 vacant and fenced plots located in localities such as Naini, Jhunsi, Phaphamau, Bamrauli, and Jhalwa. The plan involves constructing multi-storey buildings with commercial shops on the ground and first floors and residential flats above, aiming to boost the city's income while addressing the growing issue of illegal encroachments. Encroached municipal land especially in Kareli, Daraganj, Rasulabad and other densely populated areas is also set to be reclaimed. The civic body will soon present a detailed land inventory for formal approval before initiating construction and legal proceedings.Read more

23 Jun 2025

The All-India House Price Index (HPI), released by the Reserve Bank, registered an annual increase of 3.1% during the January-March quarter of FY 2024-25. This mirrored the growth rate of the preceding quarter, though lower than the 4.1% rise recorded a year earlier. Based on transaction data from ten major cities, the HPI exhibited significant regional disparities: Kolkata saw the steepest annual increase at 8.8%, whereas Kochi experienced a contraction of 2.3%. Every quarter, the national index rose by 0.9%, with cities like Bengaluru, Jaipur, Kolkata, and Chennai showing notable gains.Read more

19 Jun 2025

The Odisha government has introduced new guidelines for converting residential leasehold properties to freehold status. Owners with approved or slightly altered building plans will now pay a 3% fee on the property's benchmark market value (BMV) for full rights. Properties with major plan deviations must first be regularised and receive compliance certification from BMC or BDA. The move aims to simplify the process and ensure clarity in urban governance. Additional reforms include easier plot subdivisions for families, relaxed fire safety norms for older buildings, and more transparent land allotments. These steps are expected to enhance legal property ownership and boost urban planning standards.Read more

19 Jun 2025

The Greater Noida Industrial Development Authority (GNIDA) has opened applications for a new housing plot scheme near the upcoming Jewar International Airport, aiming to spur residential growth in this high-demand corridor. Three prime plots are up for auction via e-bidding: an 18,215 sq. m. plot in Sector Mu (reserve price INR 97 crore), a 30,000 sq. m. plot in Sector Sigma III (INR 152 crore), and a 3,999 sq. m. parcel in Sector Alpha II (INR 25 crore). Applications close on July 4, with possession granted within 30 days post-allotment. The plots offer excellent expressway connectivity and are poised to benefit from the airport's launch.Read more

19 Jun 2025

The Nagpur Municipal Corporation (NMC) has seen a 28% jump in property tax collections this financial year, thanks to a rebate scheme encouraging early payments. By June 11, NMC collected INR 45.33 crore from 1.16 lakh property owners-up from INR 35.47 crore and 85,581 taxpayers in the same period last year. The scheme offers a 15% discount for online payments and 10% for offline ones made by June 30. Reduced rebates apply for payments until December 31. Laxmi Nagar zone led collections, while zones like Dhantoli and Gandhibagh lagged slightly. The increased revenue will help NMC strengthen city services and meet its annual tax targets.Read more

19 Jun 2025

Frustrated homebuyers from the stalled Amrapali housing projects staged a protest last weekend against NBCC, the government-backed firm assigned by the Supreme Court to complete the unfinished developments. The protestors allege that their allotted flats were unjustly withdrawn over delayed payments and then handed over to private developers at discounted rates-without due process or a chance to explain their circumstances. Feeling betrayed, the buyers are now urging the Supreme Court to investigate these claims, reigniting concerns around fairness and transparency in one of India's most high-profile stalled housing crises. A detailed hearing is expected soon.Read more