31 Jan 2025

The 'India Market Monitor Q4 2024' report by CBRE highlights Hyderabad's growing influence in India's residential real estate sector, contributing significantly to the 63% of new unit launches driven by Mumbai, Pune, and Hyderabad. The city accounted for 13% of Q4 launches, reflecting a 10% quarter-on-quarter increase. Hyderabad's housing market witnessed robust growth across all segments, with rising demand for properties priced above INR 2 crore, fueled by its thriving IT economy, improved infrastructure, and progressive policies. Mid-end housing made up 40% of total sales, while luxury housing gained a 9% share in Q4. Industry leaders, including Anshuman Magazine of CBRE and Shishir Baijal of Knight Frank India, attribute Hyderabad's continued success to strong market fundamentals and increasing buyer interest in premium offerings. Looking ahead, Hyderabad is set to maintain its momentum as a key real estate hub in 2025 and beyond.Read more

31 Jan 2025

Raheja Developers has been scrutinised for not depositing INR 77.28 lakh for the second phase of the structural safety audit for its housing projects, Raheja Vedanta and Raheja Atharva, in Gurugram. Despite multiple reminders, the company has failed to comply with payment instructions. The district authorities, led by Deputy Commissioner Ajay Kumar, have recommended stringent actions, including halting the approval of future permissions for the developer until the payments are made. The safety audits, initiated due to concerns raised by residents, remain incomplete, leaving residents in both societies anxious about their buildings' safety.Read more

30 Jan 2025

As of December 2024, Uttar Pradesh has successfully completed 95% of the 17,76,823 houses sanctioned under the Pradhan Mantri Awas Yojana (Urban), with 16,71,083 houses already finished. Urban Development Minister AK Sharma emphasised the transparency and dedication behind the project, highlighting the positive impact on the lives of low-income families. The initiative has not only provided affordable homes but also empowered women and promoted economic equality. Despite challenges at the beginning, significant progress has been made under the leadership of Chief Minister Yogi Adityanath, and the government remains committed to completing the remaining 5% of the project soon.Read more

30 Jan 2025

The Maharashtra government's Dharavi Redevelopment Project (DRP), a multi-billion-dollar initiative, guarantees housing benefits for all residents, including former landowners under the cancelled Vacant Land Tenure (VLT) scheme. The Adani Group, through its joint venture Navbharat Mega Developers Private Ltd (NMDPL), will oversee the redevelopment process, building affordable housing and commercial spaces. Former landowners and private societies in the Dharavi Notified Area (DNA) are encouraged to participate in this transformative urban renewal project. Sustainable infrastructure, vocational training, and eco-friendly job opportunities are key components of the project aimed at uplifting the Dharavi community.Read more

30 Jan 2025

Birla Estates (BEPL), a subsidiary of Aditya Birla Real Estate, has partnered with Mitsubishi Estate Co. (MEC) to invest INR 560 crore in a residential project in Southeast Bengaluru. The joint venture, structured as an SPV with BEPL holding a 51% stake and MEC's affiliate MJR Investment Pte. (MIPL) owning 49%, will develop four million sq. ft. of premium housing. This marks MEC's first entry into the Indian real estate market. The collaboration reflects Bengaluru's strong housing demand, driven by its growing IT sector and infrastructure development, and signals rising foreign investor interest in India's real estate sector.Read more

30 Jan 2025

The Jharkhand State Housing Board (JSHB) will launch an online lottery for 181 houses and flats from February 10 to March 10, 2025, marking the first fully digital allotment process. Properties will be allotted on an "as is where is" basis. Application fees are INR 1,000 for EWS, INR 2,000 for LIG/MIG, and INR 3,000 for HIG, with an 18% GST. Eligibility includes no prior property ownership within 8 km. Houses range from 421 sq. ft. for EWS to 1,500+ sq. ft. for HIG. The initiative aims to enhance affordable housing access in Jharkhand.Read more

Vidhi Sangoi

29 Jan 2025

The East Kidwai Nagar Redevelopment Project in New Delhi, valued at INR 5,298 crore, spans 86 acres (35 hectares), transforming aging government housing into a state-of-the-art urban space. Managed by NBCC, it features 4,700 residential units, 102,000 sq. m of office space, and 1.35 million sq. m of built-up area. The project includes 78 residential towers, four office towers, and world-class amenities. With a focus on sustainability, it incorporates GOLD-rated Green Building standards, solar power, rainwater harvesting, and smart infrastructure, positioning it as a model for urban redevelopment in India.Read more

29 Jan 2025

Home sales registrations in Hyderabad grew by 7% year-on-year (YoY) in 2024, according to Knight Frank India. The total transaction value rose by 23% during the same period. The residential market spans Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy districts. It showed a shift towards premium homes, with a 58% YoY increase in registrations for properties above INR 1 crore. In December 2024, 5805 properties were registered. This marked a 5% month-on-month (MoM) rise but a 20% YoY drop. Despite the decline, the city's demand for larger homes and better amenities remained strong.Read more

29 Jan 2025

Max Estates and M3M India emerged as top bidders in a Noida Authority auction for commercial land parcels, collectively generating over INR 1,500 crore. Max Estates acquired the largest plot of 41,835 sq metres for INR 700 crore, with 40% designated for residential use. M3M India secured a 23,570 sq metre plot for over INR 400 crore. Mangalam Group and Vertex Construction also participated, winning plots of 24,000 sq metres and 812 sq metres, respectively. These developments underline Noida's growing prominence as a commercial hub, supported by past infrastructure investments and increasing demand for mixed-use spaces.Read more

28 Jan 2025

Mumbai's Slum Rehabilitation Authority (SRA) projects are playing a pivotal role in reshaping the city's real estate landscape. These initiatives address the pressing housing shortage while integrating slum residents into modern urban frameworks. With contributions from prominent developers, the schemes are transforming slums into modern residential and commercial spaces. Milestones such as the delivery of over 3,000 homes by the Chandak Group and the phased handover of units by Transcon Developers underline the social and economic impact of SRA developments. The projects exemplify successful public-private collaboration, fostering a vision of inclusive growth for Mumbai.Read more