29 Apr 2025

The Odisha government is moving ahead with plans to build 100,000 houses under the second phase of its Antyodaya Gruha Yojana, a key rural housing initiative. This follows the completion of phase one, which saw 60,000 house orders being issued. With an allocation of INR 2,600 crore for the current financial year and INR 7,550 crore over the next three years, the government aims to construct a total of 500,000 houses. Officials have been instructed to identify eligible beneficiaries, including those affected by natural disasters and persons with disabilities, within the next two months.Read more

29 Apr 2025

AML RightSource, a U.S.-based firm specializing in financial crime prevention and third-party compliance, has leased 157,000 sq ft at Max Square in Noida to establish a Global Capability Centre (GCC). This move is part of a broader trend of multinational companies expanding their operations in Noida, driven by infrastructure developments like the upcoming Jewar Airport. The leasing activity in Noida has been bolstered by increased demand from the IT-BPM sector, which accounted for 45% of the gross leasing volume in the first quarter of 2025.Read more

29 Apr 2025

Tesla has leased a 4,003 sq ft showroom in Mumbai's Bandra Kurla Complex (BKC) at a record INR 881 per sq ft to showcase its electric vehicles, marking a major step in its India entry. The five-year lease began in February 2025, with a 5% annual rent hike and a security deposit of INR 2.11 crore. Tesla also leased a 30-seater office at Phoenix Market City in Kurla to support its local operations. These moves follow CEO Elon Musk's discussions with Prime Minister Modi and reflect Tesla's serious push into India's growing EV market, aligning with the country's green energy and transportation goals.Read more

28 Apr 2025

The Lucknow Development Authority (LDA) has increased discounts on flat purchases to boost sales. Now, buyers can get INR 1.5 lakh off on flats priced up to INR 45 lakh, and INR 2 lakh off on flats priced above INR 45 lakh. The offer is valid till June 30 on a first-come, first-serve basis. The discounts apply to various LDA housing schemes across Lucknow, including areas like Kanpur Road, Shardanagar, Jankipuram, and Adra. LDA has also hired private real estate brokers to help sell unsold flats. The scheme was first launched last October and has now been revised again.Read more

28 Apr 2025

India launched the Smart Cities Mission in 2015 to modernize urban spaces through targeted infrastructure upgrades. Over the past decade, cities have completed more than 90% of the planned 8,000 projects, using INR 1.50 lakh crore of the INR 1.64 lakh crore allocated. States like Uttar Pradesh, Tamil Nadu, and Maharashtra directed the highest levels of investment. Cities focused on enhancing mobility, water systems, and sustainability through innovative, city-specific solutions. The mission combined central funding with municipal resources and financial tools. As it enters its tenth year, the mission continues to drive transformative, inclusive urban growth across India.Read more

25 Apr 2025

Max Estates Ltd. has acquired the long-stalled 'Delhi One' project in Noida through the insolvency resolution process, investing INR 1,400 crore to revive it. The mixed-use development will span 2.5 million sq ft and include luxury serviced residences, premium offices, and retail spaces. The acquisition, completed on April 23, 2025, follows approvals from NCLT and NCLAT. With a sales potential of INR 2,000 crore and expected rental income of INR 120 crore, the project marks Max Estates' expansion into residential real estate. The revival positions ;Delhi One; as a major Noida landmark, reinforcing the company growing presence in the Delhi-NCR real estate market.Read more

25 Apr 2025

Aamir Khan's residence in Mumbai's Pali Hill is being redeveloped into a luxury housing project by Atmosphere Realty, a joint venture between MICL, Wadhwa Group, and Chandak Group. The Virgo CHS, where Khan owns 12 flats, will be replaced with upscale 4 and 5 BHK sea-view apartments priced above INR 1 lakh per sq ft. Set for launch by December 2025, the project includes a rehab section for current residents. Khan recently bought another Pali Hill property worth over INR 9 crore. Despite a slowdown in the ultra-luxury segment, developers are confident in the project's success amid strong demand in premium locations.Read more

25 Apr 2025

The Delhi Development Authority (DDA) has issued urgent notices to residents of Signature View Apartments in Mukherjee Nagar to vacate their flats, as the 336-unit complex has been deemed structurally unsafe. An e-tender for demolition was floated on March 17, with the process expected to conclude within 120 days of site handover. Although the Delhi High Court mandated evacuation by March 23, many residents remain due to delays in rent compensation. While 111 families have vacated, they await promised assistance. The DDA has pledged compliance with court orders and assured further details on compensation and reconstruction will be shared soon.Read more

24 Apr 2025

Macrotech Developers Ltd (Lodha) has reduced its net debt by 7% to INR 3,990 crore in Q4 FY25, aided by record home sales and strong customer collections. Sales bookings rose 21% year-on-year to INR 17,630 crore, while collections jumped 29% to INR 14,490 crore. Despite acquiring 10 new land parcels across MMR, Pune, and Bengaluru-xpected to yield INR 23,700 crore in GDV-the company maintained healthy cash flow. Macrotech is also expanding into logistics, office, and retail segments. Separately, it resolved a brand dispute with House of Abhinandan Lodha, affirming independent operations and brand identities. The company remains firmly positioned for sustained growth.Read more

24 Apr 2025

The Tamil Nadu Urban Habitat Development Board (TNUHDB) has imposed a penalty of INR 15 lakh on a contractor for significant delays in three housing reconstruction projects in Chennai. These projects, located in Gandhi Nagar, Periyar Nagar, and Goyathoppu, are part of the PMAY-AHP scheme and were expected to be completed within 18 months using pre-fabricated concrete technology. However, progress has been sluggish, with completion rates ranging from 34% to 45%. The delays have forced displaced residents to incur additional rental expenses. TNUHDB has warned of further penalties if the contractor fails to expedite the work.Read more