18 Sep 2023

ICRA forecasts a decline in Hyderabad's Grade A office occupancy by approximately 500 basis points to 81.0%-81.5% by March 2024, down from 86.0% in March 2023. This expected drop is attributed to a record supply addition of about 21.5 million square feet for FY2024. Despite this, ICRA remains optimistic about India's overall commercial office sector, citing the country's appeal as a hub for global capability centres and its attractive blend of skilled talent and competitive rental rates.Read more

18 Sep 2023

GLADA (Greater Ludhiana Area Development Authority) has launched a crackdown on illegal colonies, demolishing infrastructure in five unauthorized settlements. The targeted action took place in Bholapur, Tajpur, Bhamian Kalan, and Kulianwal villages. Developers who disregarded notices faced the demolition drive, carried out with the cooperation of police, PSPCL officials, and the revenue department. GLADA warned against purchasing property in unauthorized colonies, emphasizing their lack of government-sanctioned amenities. They have also recommended against plot registration and electricity connections in such areas. This initiative aims to curb the growth of illegal colonies and protect prospective buyers from fraudulent schemes.Read more

18 Sep 2023

Andhra Pradesh has achieved a historic feat by becoming the first Indian state to complete land survey operations in 4,000 villages through the 'YSR Jagananna Saswata Bhu Hakku, Bhu Raksha Scheme.' This initiative ensures digital land records with precise coordinates, tamper-proof documents, and the use of advanced technologies like drones and CORS networks. Over 95% of the targeted villages have already been covered, resolving border disputes and setting up boundary stones. Remote participation options for landowners are also available. This scheme marks a significant step towards modernizing land records and protecting landowners' rights in the state.Read more

15 Sep 2023

A fire incident occurred at the Saki Cooperative Housing Society in Andheri East, Mumbai. The fire erupted in the electric meter box, prompting residents to contact the fire brigade. Firefighters swiftly responded, disconnecting the power supply and rescuing 33 people from the building. The cause of the fire is under investigation. Another fire incident affected a city slum, while a cooking gas leak resulted in injuries in Bandra. These incidents emphasize the importance of fire safety and preparedness in densely populated urban areas. Investigations continue to determine the causes, underscoring the need for vigilance and safety measures.Read more

15 Sep 2023

Ajmera Realty has secured a lucrative redevelopment project in Borivali's Yogi Nagar, Mumbai, comprising four societies. With an estimated sales value of Rs 330 crore, the project will feature 2 and 3 BHK residential apartments across a carpet area of 1,07,000 sq. ft. Expected to launch in H1 2024, it will take approximately three and a half years to complete. Yogi Nagar, in Borivali West, offers convenient access to numerous amenities, making it an attractive location. Ajmera Realty's focus on modern living in well-established neighbourhoods aligns with their commitment to enhancing the quality of urban life.Read more

15 Sep 2023

Noida Extension, also known as Greater Noida West, is becoming a top choice for IT professionals and first-time homebuyers due to its affordability, proximity to economic hubs, and wide roads. It has a dedicated sector for tech companies and is well-connected to IT hubs along the Noida-Greater Noida Expressway. Affordable property prices, new project launches, and improving infrastructure have attracted middle-class buyers. Property prices in the region have risen steadily, with rental demand increasing as well. However, challenges such as traffic congestion and limited public transport options exist but are expected to improve with planned infrastructure developments.Read more

15 Sep 2023

Chandigarh's UT administration is set to realize the vision of two "iconic" buildings along Madhya Marg, covering approximately 2.5 acres each. Proposed in the Chandigarh Master Plan (CMP-2031), the finalized volumetric plans are awaiting approval from the Chandigarh Heritage Conservation Committee. These international-standard structures will host commercial and office spaces, along with facilities for international conferences and tourism-related activities. A consultant has meticulously crafted their exterior appearance and floor layouts. This initiative aims to make a significant entry statement to the City Centre, aligning with Le Corbusier's architectural vision for Sector 17.Read more

15 Sep 2023

Despite rising property prices and interest rate challenges, the ANAROCK Consumer Sentiment Survey reveals a strong 59% preference for mid-range and premium homes in H1 2023. The study, which surveyed 5,218 participants, noted a 10% increase in sentiment for this housing category since H1 2020. Larger 3 BHK homes are gaining popularity, especially in cities like Bangalore and Chennai. However, high inflation and potential interest rate hikes loom as potential threats to the housing market's momentum.Read more

14 Sep 2023

Bollywood actress Sonakshi Sinha has acquired another upscale apartment in Mumbai's Bandra suburb, valued at Rs 11 crore. Located in the prestigious 81 Aureate tower, this is her second purchase in the building, following a Rs 14 crore investment in March 2020. As Bollywood celebrities like Amitabh Bachchan, Kartik Aryan, and Sara Ali Khan continue to invest in Mumbai's luxury real estate, the market sees a surge in high-profile transactions, underscoring the city's allure for the film industry's elite.Read more

14 Sep 2023

Mumbai's iconic Ajantha bungalow in Malabar Hill is set for demolition to make way for 12 luxury sea-view apartments. Aimed at providing dedicated residences for key legislative members, six of these apartments will house top officials, while the rest will serve as guest houses for visiting dignitaries. Speaker Rahul Narwekar confirmed the in-principle approval for the project, emphasizing the efficiency of the new construction over maintaining older structures. This initiative seeks to address the accommodation challenges often faced by opposition leaders and other officials.Read more