10 Jun 2025

Chennai's residential rental market is witnessing sharp hikes, with year-on-year increases of up to 25% in key areas. Anarock data shows a 22.2% quarter-on-quarter rise in Q3 2024, the highest among major Indian metros. Localities near IT corridors like Velachery, Sholinganallur, and Taramani now see 1BHK rents ranging from INR 25,000 to INR 35,000 per month. Even outer suburbs like Pallavaram and Kolathur are no longer affordable. The surge is driven by demand from Global Capability Centres (GCCs), limited new housing supply, and property tax hikes. Middle-income tenants are moving to farther suburbs, while many professionals are opting for shared housing or co-living spaces. Comparisons to Bengaluru's rental trends are growing, raising concerns about Chennai's affordability. Without proactive housing policies and infrastructure improvements, the city risks facing long-term housing challenges similar to its southern counterpart.Read more

10 Jun 2025

In a significant stride towards sustainable urban transformation, the Saifee Burhani Upliftment Trust (SBUT), under its flagship Saifee Burhani Upliftment Project (SBUP), marked World Environment Day by reinforcing its commitment to eco-conscious redevelopment in Bhendi Bazaar. The initiative goes beyond structural renewal, incorporating native greenery, renewable energy, water and waste management systems, and thoughtful urban planning that balances cultural modern resilience. SBUT's efforts are setting an unprecedented benchmark for future cities that prioritise both people and the planet.Read more

09 Jun 2025

The Telangana Real Estate Regulatory Authority (TGRERA) has initiated the establishment of an enforcement wing to expedite compliance with its orders. This move empowers district collectors to invoke the Revenue Recovery Act (RRA) and exercise certain civil court powers for enforcement, transitioning from passive regulation to active enforcement. An executive director from the revenue department will lead the new wing, supported by a dedicated team. This initiative aligns with similar efforts in other states and follows guidelines from the Union Ministry of Housing and Urban Affairs.Read more

09 Jun 2025

Dubai-headquartered Emaar Properties' Indian arm, Emaar India, has announced its entry into the Lucknow residential market with a premium high-rise project named 'Elite Oasis'. Launched earlier this week, the development will come up at Gomti Nagar Extension, featuring 194 luxury units across a 2.923-acre site. With unit prices ranging between INR 2.75 crore and INR 4.15 crore, the total project investment stands at INR 400 crore. The company's CEO stated that Emaar would bring its global architectural expertise to meet the lifestyle aspirations of the city's affluent homebuyers.Read more

09 Jun 2025

Bihar is set to implement an online tenant verification system across all police stations by the end of this month, aiming to streamline the rental process and enhance security. This initiative will integrate the registration department's data with the police network, allowing for digital processing of tenant information. While urban areas will benefit from this digital shift, rural regions still relying on traditional stamp paper registrations will continue with manual verifications. The move follows recent mandates requiring landlords to submit detailed tenant information to local police stations, emphasizing the state's commitment to modernizing its rental verification process.Read more

09 Jun 2025

The Karnataka High Court recently intervened to halt the Bangalore Development Authority's (BDA) decision to disconnect electricity and revoke occupancy certificates for Kendriya Vihar Apartments in Yelahanka. This action followed directives from the Fire and Emergency Services Department, which cited lapses in renewing mandatory fire safety clearances. Residents contended that they were not granted a fair hearing before these punitive measures were initiated. The court's stay offers temporary relief as the legal proceedings continue.Read more

09 Jun 2025

The UK housing market witnessed a significant dip in mortgage approvals earlier this week, hitting their lowest point since early 2024. This decline followed the end of the stamp duty holiday, which had previously boosted borrowing and transactions. Mortgage approvals fell short of forecasts, while net mortgage lending also recorded a notable drop. However, a year-on-year rise in house prices and a spike in consumer credit borrowing revealed a complex picture, hinting at sustained demand alongside potential signs of financial stress in households.Read more

09 Jun 2025

Hyderabad's residential real estate sector encountered a slowdown earlier this year, with overall home sales dropping by 12% compared to the previous year. The total registration value also dipped marginally by 4%. However, the premium housing segment defied this trend, showing a notable increase in both sales share and value contribution. Properties priced above INR 1 crore rose to represent 20% of all registrations, up from 17% a year earlier, and accounted for over half of the total registration value. Demand for larger homes continued to grow, reflecting a clear buyer preference for more spacious and upscale residences.Read more

09 Jun 2025

In a significant move to protect occupants of structurally unsafe buildings in Mumbai, the Maharashtra Housing and Area Development Authority (MHADA) has introduced a monthly rental support of INR 20,000 for tenants residing in 96 cessed buildings declared critically dangerous. The decision, announced earlier this week, comes amid growing concern over safety risks with the monsoon approaching. The authority also plans to lease 400 temporary tenements through third-party agencies to house displaced residents. This initiative attempts to bridge a stark gap in available transit accommodation, with over 2,400 residents in need but fewer than 800 units presently ready for occupation.Read more

09 Jun 2025

The Ranchi Municipal Corporation (RMC) has urged residents to clear their holding tax dues by the end of this month to benefit from a rebate of up to 10%. The civic body has rolled out this incentive as part of its annual tax recovery campaign to ensure timely compliance and boost municipal revenues. The rebate is applicable only if the full amount is paid in a single transaction, with partial or instalment payments excluded. RMC has activated both online and offline billing modes to facilitate ease of payment for property owners across the city.Read more

09 Jun 2025

The fourth edition of Biznet, a B2B event hosted by CREDAI MCHI Thane, turned out to be a resounding success, drawing over 170 developers from the Mumbai Metropolitan Region (MMR) and more than 20 vendors. Held at TopTop Plaza in Thane West, the event aimed to foster collaboration between suppliers and developers, showcase emerging technologies, and generate business worth INR 100 crore-an ambitious target that was met. Purchase managers and key industry stakeholders used the platform to forge connections, sign MoUs, and discuss innovation in real estate.Read more

09 Jun 2025

A special court in Mumbai has formally closed the long-running criminal case against real estate developer Niranjan Hiranandani, linked to the Powai Area Development Scheme (PADS). The closure follows a report from the Maharashtra Anti-Corruption Bureau (ACB), which found no substantial evidence of wrongdoing. The case stemmed from allegations that Hiranandani's firm, part of a 1980s tripartite agreement with the state, had failed to deliver promised affordable housing, instead building luxury residences on concessional land, allegedly causing a loss of INR 30,000 crore. The ACB's report found no proof of corruption or conspiracy, a view the court upheld, stating that further proceedings would serve no purpose. The verdict concludes a decades-old case surrounding one of Mumbai's major urban development projects and underscores the scrutiny on public-private real estate ventures.Read more

09 Jun 2025

Mumbai's property market recorded 11,565 housing registrations last week, generating INR 1,062 crore in revenue for the Maharashtra government. This marks a 17.7% year-on-year increase, compared to 9,823 registrations during the same period last year, as per government data. It is also the second-highest May figure in 12 years, after May 2022's spike due to pandemic-era stamp duty concessions. Knight Frank India reported that 80% of these registrations were for residential properties, with Mumbai's western suburbs accounting for 60% of the activity. Despite no new government incentives, stamp duty revenue rose 7% from last year's INR 992 crore. The steady rise in registrations highlights strong buyer confidence and sustained demand in the city's property market. The data indicates a positive trend for Mumbai real estate, driven by long-term investment sentiment.Read more

06 Jun 2025

The Lucknow Development Authority (LDA) has launched two major housing projects-Udyog Nagar and Naimish Nagar-targeting the city's growing demand for affordable, well-planned residences. Udyog Nagar is envisioned as a modern township with green spaces, strong connectivity to commercial hubs, and integrated urban amenities. Naimish Nagar will offer varied housing options catering to diverse income groups, with an emphasis on affordability and quality. Both projects will be developed in phases, employing sustainable construction technologies aligned with national urban housing policies. Building on its successful track record of housing schemes for low- to middle-income groups, the LDA aims to further bridge the housing gap. The new townships will also feature recreational areas, schools, and healthcare facilities, contributing to community welfare. As Lucknow's infrastructure rapidly evolves, these projects are expected to drive residential growth and ease market demand.Read more

06 Jun 2025

Pune Municipal Corporation (PMC) has advanced a INR 1,500 crore flood mitigation and relocation plan for flood-prone areas-Ektanagari, Vitthalnagar, and Nimbajnagar-along Sinhagad Road. Under the Urban Redevelopment Scheme's cluster development provisions, 1,383 residential units and 67 commercial establishments in designated 'blue zones' will be relocated to Hingne Khurd, outside the floodplain. The proposal is currently under state government review. Meanwhile, PMC has initiated immediate flood control measures, including debris clearance and CCTV monitoring to curb illegal dumping. Approval and funding are critical to executing long-term relocation and redevelopment. Compensation for commercial property owners remains delayed due to legal gaps in current regulations. With monsoon-related flooding intensifying, PMC's comprehensive relocation strategy aims to provide a sustainable solution for vulnerable communities while improving overall urban resilience.Read more