10 Feb 2025

MHADA has set a target to construct eight lakh homes in the next five years, focusing on affordable and rental housing, including for mill workers and dabbawalas. Deputy CM Eknath Shinde, speaking at a recent MHADA event in Thane, highlighted the strong public response to the latest housing lottery, with over 31,000 applicants for 2,100 flats and 117 plots. He emphasised the need for policy changes to support workers in Mumbai and stressed transparency in the allocation process. Additionally, the government is encouraging state agencies to take over stalled redevelopment projects in the MMR to ensure their completion.Read more

07 Feb 2025

The NCLT Mumbai has approved the merger of Kingmaker Developers (KDPL) with Real Gem Buildtech (RGBPL), marking a strategic consolidation for Keystone Realtors. KDPL acquired 100% of RGBPL for INR 231.42 crore under a share purchase agreement with DB Realty on November 6, 2023. Following the merger, RGBPL will become a wholly-owned subsidiary of Keystone Realtors, replacing KDPL. The move aligns with the industry trend of mergers to enhance market presence. With the real estate sector recovering, Keystone aims to leverage RGBPL's projects and expertise to strengthen its position and drive growth.Read more

07 Feb 2025

Bollywood director Subhash Ghai and his wife Mukta Ghai have purchased a luxurious 4 BHK apartment in the 81 Aureate project, located in Bandra West, Mumbai, for INR 24 crore. The 4,364 sq. ft. apartment features a built-up area of 5,239 sq. ft. and comes with three car parking spaces. The transaction included a stamp duty of INR 1.44 crore and registration charges of INR 30,000. The project has witnessed several transactions, amounting to a total value of INR 76 crore between February 2024 and January 2025. The growing popularity of luxury real estate in Mumbai, especially among Bollywood personalities, is contributing to rising property prices in the area.Read more

07 Feb 2025

India's luxury housing market has witnessed an extraordinary 53% year-on-year growth in 2024, marking a significant boost to the country's real estate sector. According to CBRE's latest market report, this surge is driven by evolving consumer preferences, economic stability, and rising disposable incomes. High-end properties valued at INR 4 crore and above accounted for 9% of total residential sales in the last quarter, with Mumbai and Gurugram leading ultra-luxury transactions at 84%. Industry experts highlight that luxury homes are increasingly seen as both a lifestyle upgrade and a strategic investment. Developers across major cities, including Delhi, Mumbai, and Hyderabad, are focusing on sustainable and technology-integrated housing solutions, signalling strong future growth.Read more

07 Feb 2025

Sunny Leone, actress and entrepreneur, has expanded her business portfolio by purchasing an office space for INR 8 crore in Veer Signature, a premium commercial project in Oshiwara, Mumbai. The property spans 1,905 sq ft of carpet area and includes three parking spaces, with a stamp duty payment of INR 35.01 lakh and registration fees of INR 30,000. Registered in February 2025, the office was acquired from Aishwarya Property and Estates. Veer Signature has attracted Bollywood stars like Amitabh Bachchan and Ajay Devgn, reflecting the growing trend of celebrity investments in Mumbai's commercial real estate.Read more

06 Feb 2025

The Maharashtra government is intensifying its push under the Pradhan Mantri Awas Yojana (PMAY), focusing on landless and homeless beneficiaries. At a Konkan Division review meeting, Minister Jayakumar Gore emphasised swift approvals and transparent beneficiary lists at Gram Panchayat offices. Chief Minister Devendra Fadnavis is overseeing construction speed and quality. Additionally, self-help groups are being strengthened for livelihood support. Minister Yogesh Kadam stressed physical inspections to ensure timely fund distribution. The government is also evaluating tribal and pilgrimage development schemes, aiming for comprehensive rural progress through efficient resource management and community involvement.Read more

06 Feb 2025

The 22nd Thane Property Expo 2025, hosted by CREDAI MCHI Thane, is set to take place from 7 to 10 February 2025 at Highland Gardens on Kolshet Road, Thane (W). It is a premier event showcasing over 100 real estate projects from renowned developers alongside financial institutions offering attractive loan options. The exhibition aims to provide prospective homebuyers with a seamless property-buying experience, featuring exclusive discounts, expert guidance, and a range of residential and commercial properties. With networking opportunities and financing solutions available in one place, the event is a must-visit for those looking to invest in real estate in Thane and its surrounding areas.Read more

06 Feb 2025

The MHADA redevelopment project for its 33-acre Kala Chowkie layout faced a major setback as no bids were submitted, prompting a fourth deadline extension. The plan aimed to rehabilitate 3,410 tenements, promising residents larger homes (minimum 635 sq ft) and commercial tenants bigger spaces with a INR 5 lakh corpus fund. However, developers proposed smaller units (508 sq ft) than initially promised, affecting interest. The 55:45 sale-rehabilitation model was also not enticing enough for bidders. The lack of response highlights feasibility concerns, and MHADA may need to reassess incentives to attract developers and ensure urban renewal success.Read more

05 Feb 2025

The Karnataka Housing Board (KHB) has set a minimum price of INR 88 lakh for a two-bedroom apartment in its upcoming Surya Nagar 1st Phase project in Bengaluru. This marks a significant increase from prices four years ago, attributed to rising land values and construction costs. Officials position the development as a competitively priced luxury project compared to private sector offerings. The complex, featuring 90 units, is located five kilometres from Bommasandra Metro Station. While some view the pricing as a shift from KHB's traditional focus on affordability, others see it as an adaptation to market trends. The project's reception among buyers remains to be seen.Read more

05 Feb 2025

Arkade Developers has acquired a four-acre land parcel in Goregaon West, Mumbai, from Aspen Properties and their joint venture partners, Kamanwala Housing Construction, for a total consideration of INR 165 crore. The company has paid INR 9.9 crore in stamp duty for the acquisition. The land is currently leased to Filmistan and is expected to yield over five lakh sq ft of saleable area, generating an estimated revenue of INR 2,000 crore. Additionally, the company has expanded its presence in Western Mumbai with three redevelopment projects in Andheri East, Malad West, and Borivali West, collectively spanning approximately five acres and anticipated to generate INR 2,150 crore in turnover. Arkade Developers also reported a 24% increase in sales bookings and a 16% growth in collections over the past nine months.Read more