09 May 2025

Chennai's residential real estate market began 2025 on a strong note, with rising sales, improved buyer confidence, and steady demand, according to CREDAI Chennai. Sales rose 7% quarter-on-quarter and 27% year-on-year in Q1, reaching 3,783 units. Ready-to-move and near-completion homes remained most preferred. The RBI's repo rate cut and revised income tax slabs have boosted affordability, especially for first-time buyers. Demand surged in southern suburbs and emerging hubs like Parandur, Minjur, and Sriperumbudur, driven by infrastructure growth and Metro Phase II. With government support and a focus on regulatory compliance, the market is poised for sustained expansion, offering strong potential for both buyers and investors.Read more

09 May 2025

According to a report by JLL India, sales of residential real estate in Bengaluru fell 10% year over year in the first quarter of 2025, totaling 15,340 units. Despite this dip, the city saw a significant 62% surge in new launches, reaching 20,484 units. The luxury housing segment, particularly apartments priced between INR 3-5 crore, witnessed a remarkable 119% growth in sales. Whitefield emerged as a key area, contributing 35% to the quarter's overall sales. The average property prices in Bengaluru rose by approximately 13% compared to the previous year.Read more

09 May 2025

In Siddharth Vihar, Ghaziabad, the Uttar Pradesh Housing Board is getting ready to offer more than 150 residential plots. This township, covering 635 acres along the Delhi-Meerut Expressway, is approximately a 30-minute drive from Noida City Centre and Connaught Place. With ongoing infrastructure developments, including plans for RRTS connectivity and improved road access, Siddharth Vihar is emerging as a promising residential destination. The area has witnessed significant growth, with over 40,000 residents already settled in various housing projects.Read more

09 May 2025

Prestige Estates Projects Ltd plans to invest INR 10,000 crore over six years to develop a 62.5-acre township, 'Prestige City, Indirapuram,' in Ghaziabad-its first residential venture in Delhi-NCR. The 10 million sq ft project will include 4,041 residential units and an 8 lakh sq ft mall, with Phase 1 launching 3,421 units and a sales potential of over INR 9,000 crore. Despite a 19% dip in FY24 sales bookings due to project delays, the company saw a 36% rise in average price realisation. With over 300 completed projects, Prestige's new venture signals a strategic push into North India's real estate market.Read more

08 May 2025

Singer and TV personality Rahul Vaidya, along with his parents, has sold two residential apartments in Mumbai's Oshiwara area for a total of INR 5 crore. The flats, located in the Samartha Aangan project near Lokhandwala, were registered in April 2025. One unit measuring 1,102 sq. ft. sold for INR 3 crore, while the second, at 743 sq. ft., fetched INR 2 crore. Both deals included standard stamp duty and registration charges. Vaidya, known for his music career and reality TV appearances like Indian Idol and Bigg Boss 14, continues to maintain a notable presence in the entertainment industry.Read more

08 May 2025

The Nagpur Municipal Corporation has set a new benchmark by selling a 1.25 lakh sq ft plot on Orange City Street for INR 235 crore-its highest-ever per sq ft rate at INR 18,784. The land, earmarked for a premium commercial complex, is part of NMC's monetization drive to fund infrastructure projects. So far, six plots have generated INR 561 crore, with rates steadily rising across sales. Strategically located and part of a growing commercial corridor, the Orange City Street initiative is attracting major investments, reinforcing Nagpur's emergence as a key urban and real estate hub in central India.Read more

08 May 2025

Bengaluru-based Bagmane Group has reportedly acquired a prime land parcel in Sector 21, Dwarka for approximately INR 1,500 crore, marking its entry into the Delhi real estate market. The mixed-use plot, offered by the Rail Land Development Authority (RLDA), permits both residential and commercial development and is located adjacent to a metro station. While the developer has not yet announced specific plans, the site's proximity to the Dwarka Expressway and Urban Extension Road-2 enhances its strategic value. Known for its Grade A office projects in Bengaluru, Bagmane's move signals a broader national expansion.Read more

08 May 2025

The Delhi Development Authority (DDA) has issued revised standard operating procedures (SOPs) for the evacuation of Signature View Apartments in Mukherjee Nagar, which are slated for demolition following a 2022 IIT Delhi report declaring them structurally unsafe. Residents have until July 31, 2025, to vacate, with flats already vacated required to be handed over by May 30. While 111 of the 336 families have relocated, a major point of concern remains: the DDA has yet to clarify when rent compensation will begin, despite multiple SOPs being issued. Site engineers have been appointed to assist residents through the handover process.Read more

07 May 2025

Sohail Khan has leased his commercial property in Bandra's Gasper Enclave to The Irish House for five years, earning an estimated rental income of INR 10.3 crore. The 1,290.57 sq. ft. unit commands a monthly rent of INR 16.89 lakh for the first three years, rising to INR 17.73 lakh for the final two. The agreement includes a security deposit of INR 60 lakh and attracted a stamp duty of INR 2.67 lakh. Originally purchased in 2009 for INR 3.11 crore, the property reflects strong asset appreciation in Bandra-a prime location increasingly leveraged by celebrities amid booming real estate demand.Read more

07 May 2025

YEIDA has launched an online portal to support over 4,500 homebuyers impacted by stalled Jaiprakash Associates (JAL) housing projects, following the Allahabad High Court's directive to take over 12 unfinished schemes. The portal will allow buyers to register details, track updates, and choose to continue or exit projects. Consulting firm Currie & Brown has been appointed to assess project status, after which YEIDA will invite bids under the EPC model. A high-level oversight committee has also been formed. The court declared a 'zero period' from Feb 2020 to Mar 2024, exempting buyers from penalty dues during that time.Read more