29 May 2025

Joon Realty has announced a capital expenditure of INR 1,125 crore to be deployed over the next three years as it enters the luxury real estate development sector across India. Moving beyond its legacy in land banking and infrastructure, the company intends to build premium residential, commercial, and mixed-use assets in tier 1, 2, and 3 cities. This strategic shift coincides with growing interest among India's affluent classes in lifestyle-driven, sustainable urban housing. The firm's robust land assets, history of executing large-scale infrastructure, and partnerships with established names like Tata Power and L&T position it to become a significant player in the next generation of Indian real estate development.Read more

29 May 2025

India's real estate sector is undergoing a remarkable transformation as Non-Resident Indian (NRI) investors elevate their stake from 7-10% a decade ago to nearly 20% today. This surge reflects NRIs' growing confidence in Indian property as a secure long-term asset, influenced by emotional ties, favourable currency rates, and improved market transparency. Luxury and premium segments, especially in cities like Gurugram, have become hotspots for NRI investments. Infrastructure developments and policy stability under RERA have further catalysed this trend, positioning Indian real estate as a preferred destination for wealth preservation among the diaspora.Read more

29 May 2025

Star Housing Finance Ltd. and Vastu Housing Finance Corporation Ltd. have announced a strategic co-lending partnership. The collaboration targets supporting over 5,000 first-time home buyers, primarily in semi-urban and rural regions. By leveraging Star HFL's loan origination capabilities and Vastu HFC's capital, technology, and risk-sharing framework, the alliance aims to deepen financial inclusion for economically weaker and low-income groups, traditionally underserved by formal credit systems. This move aligns with the booming affordable housing sector in India, where demand is high due to significant urban and rural housing deficits. With the affordable housing market projected to grow substantially, this partnership is set to accelerate homeownership access and scale impact in Tier 2, Tier 3, and rural markets.Read more

29 May 2025

The Kalyan-Dombivli Municipal Corporation (KDMC) has identified 176 buildings as highly unsafe and urged residents to vacate them before the monsoon. The civic body, supported by police intervention if needed, aims to prevent casualties caused by structural collapses. Deputy Commissioner Awdhoot Tawade advised residents in both listed and unlisted buildings to conduct structural audits or relocate if they suspect risk. The crisis stems from illegal constructions, poor enforcement, and unresolved tenant-owner disputes. By issuing this list, KDMC aims to prevent further tragedies through early action, urging residents to take personal responsibility for their safety.Read more

29 May 2025

Prayagraj Municipal Corporation launched QR code stickers to streamline and accelerate house and water tax collection throughout Sangam City. Starting with commercial properties and expanding zone-wise to residential areas, the initiative enables tax collectors to facilitate both online and offline payments through door-to-door visits. This digital advancement addresses previous inefficiencies caused by delayed payments and excuses related to online transfers. The system enables homeowners to pay house, water, and sewer taxes together. With over 177,000 properties identified, the corporation targets immediate recovery from 55,000 buildings, enhancing transparency, convenience, and revenue efficiency in municipal tax collection.Read more

29 May 2025

The Maharashtra government has launched the PRATYAY MahaBhumi portal to simplify and digitise the deemed conveyance process for cooperative housing societies. Announced by Chief Minister Devendra Fadnavis, the portal allows societies to apply online for legal land ownership transfer from builders-a long-pending issue affecting over 78,000 societies. The fully digital process eliminates physical submissions and includes virtual hearings, with a six-month resolution timeline. All stages-rom document upload to final order-will be handled through the portal. This reform addresses the challenges of redevelopment, repairs, and loans faced by societies lacking land ownership. Housing federations are urging further simplification by reducing the required documentation.Read more

29 May 2025

Tamil Nadu Chief Minister M.K. Stalin inaugurated a 32-flat apartment-complex in Karur via video-conferencing. Built by the Tamil Nadu Urban Habitat Development Board in Velambadi, Aravakurichi, the project cost INR 2.95 crore and spans 0.165 hectares with a basement and three-floors. Each 400 sq ft unit features a bedroom, living room, kitchen, bathroom, and toilet, costing INR 9.23 lakh. During the ceremony, 30 beneficiaries received allotment-orders. Amenities include a groundwater tank, borewell, motor room, septic tank, drainage system, and street lighting. Allotment orders were handed over by District Collector M. Thangavel in the presence of officials.Read more

29 May 2025

Lunate, managing USD 110 billion in assets, has announced a USD 1 billion joint venture with Brookfield to develop and manage residential real estate across the Middle East. Building on its 24.5% stake in Dubai's ICD Brookfield Place, Lunate is now targeting build-to-sell and opportunistic buy-to-sell projects in high-growth markets like the UAE and Saudi Arabia. Lunate will anchor the investment and lead regional fundraising, while Brookfield brings global real estate expertise. The move comes amid a real estate boom in cities like Dubai and Riyadh, driven by foreign investment and economic reforms. The partnership aims to capitalise on growing institutional interest in the region.Read more

28 May 2025

The Central Bureau of Investigation (CBI) has initiated investigations into 24 real estate projects across Noida, Greater Noida, and the Yamuna Expressway, following a Supreme Court directive earlier this week. The probe focuses on alleged financial irregularities within subvention schemes that may have defrauded thousands of homebuyers. The CBI has requested detailed records from development authorities, including layout plans, sanction letters, dues statements, and registry details, to assess potential violations of Reserve Bank of India (RBI) and National Housing Bank (NHB) guidelines. The investigation also aims to determine whether funds were diverted from construction activities.Read more

28 May 2025

Property prices rose in 48 out of 50 Indian cities in the final quarter of FY 2024-25, according to NHB's latest RESIDEX report. The Housing Price Index (HPI) recorded a 7.5% annual increase up from 5.1% a year earlier highlighting strong market momentum. Bengaluru led with 13.1% growth, followed by Kolkata (9.6%), Chennai (9%), and Pune (6.8%). Only Howrah and Thiruvananthapuram saw price declines. Sequentially, prices rose 1.9% between January and March. The RBI's recent 25 basis point repo rate cut the first in five years has lowered home loan rates, further supporting demand. The data signals continued market recovery and growing developer confidence.Read more

28 May 2025

The Maharashtra Housing and Area Development Authority (MHADA) has lowered the prices of 6,248 apartments in Thane in an effort to increase demand among economically disadvantaged section (EWS) homebuyers. These flats, constructed by the Konkan Housing and Area Development Board, are located in Khoni, Shilphata, and Kalyan. Initially launched at higher rates earlier this year, the lack of response prompted a price cut of up to INR 1.43 lakh per flat. The new pricing is expected to improve affordability and encourage participation in upcoming sales rounds.Read more

28 May 2025

Arvind SmartSpaces Ltd, a leading real estate developer headquartered in Ahmedabad, has reported a 24% increase in consolidated net profit for the fourth quarter of the financial year 2024-25, reaching INR 19.14 crore compared to INR 15.49 crore in the same quarter last year. This growth was supported by a substantial rise in total income. For the entire fiscal year, net profit more than doubled to INR 110.49 crore, while total income more than doubled as well. The board has proposed a final dividend, reflecting the company's strong financial health. Strategic expansions into Mumbai and Ahmedabad mark the company's efforts to diversify and strengthen its market presence.Read more

28 May 2025

Ahmedabad Municipal Corporation is set to launch a self-assessment software that allows property owners to estimate future property tax liabilities for new constructions and property modifications. This step aims to simplify the property tax process by enabling taxpayers to receive preliminary tax calculations online before official validation. Alongside this, the AMC has witnessed considerable success with its advance property tax payment scheme, which has generated significant revenue and engaged over half a million citizens. The new software tool promises to bring transparency and ease to Ahmedabad's property tax system.Read more

28 May 2025

Century Real Estate, one of South India's major property developers, raised INR 1,850 crore in debt funding to strengthen its presence in Bengaluru's thriving residential and commercial property sectors. The funding round, led by Ares Asia and SC Lowy, will support both ongoing and upcoming developments. Ares Asia committed INR 1,600 crore in two instalments, while SC Lowy contributed INR 250 crore. This capital boost aligns with Century's broader strategy to capture rising market demand, particularly in the Grade A commercial and residential segments.Read more

28 May 2025

Amid pre-monsoon conditions and the looming onset of the rainy season, the Brihanmumbai Municipal Corporation (BMC) issued an urgent appeal earlier this week, urging slum dwellers in landslide-prone areas such as Vikhroli and Ghatkopar to move to safer locations. This directive comes after repeated warnings from civic officials and follows a pattern of landslide-related incidents recorded in recent years. With monsoon-related disasters, including landslides and house collapses, historically impacting hillside settlements, BMC's renewed focus highlights the growing risks and the need for preventive relocation in identified high-risk zones across the city.Read more

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06 May 2025

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