Category: Latest Stories

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Latest StoriesResidential

Delhi Govt Considers Mandatory Fire Safety for Low-Rise Homes

NEW DELHI: The Delhi government is considering new bylaws to require fire safety measures, including smoke detectors and fire extinguishers, for low-rise residential buildings, officials announced on Thursday. This initiative follows recent fire incidents in Malviya Nagar, Vivek Vihar, and Palam that resulted in multiple fatalities. The government is looking into mandates for fire safety in residential structures under 15 metres tall, as current regulations do not necessitate fire safety certificates for such buildings, as stated by officials. Currently, fire safety measures like hydrants and smoke detectors are mainly required in high-rise buildings that need fire no objection certificates (NOCs).…

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Noida Sports City Revival Sparks New Projects Despite Land Limits

The long-awaited revival of the Sports City projects in Noida is set to unlock nearly 20 million sq ft of real estate in the area. Following a Supreme Court ruling in March, construction can now resume after nearly three years of inactivity. At least six developers have already signed joint development agreements with the original allottees. Sports City projects were conceived in four different locations across Noida. One parcel, spanning Sectors 78, 79, and 101, was given to Three C, while another in Sector 150 was allotted to the Lotus Greens Group. Logix Infra Developers also received a plot in…

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DDA Alerts Architects, Engineers & Owners Against Misleading Plans

NEW DELHI: The Delhi Development Authority (DDA) has issued a warning to architects, supervisors, structural engineers, and property owners about the consequences of submitting false information during building plan approvals. This action follows several building collapses in the city. According to the Unified Building Bye-Laws (UBBL) of 2016, providing false information, misrepresenting building plans, hiding material facts, or supplying incorrect certificates can lead to serious penalties. These may include blacklisting, debarment, and other appropriate actions under relevant laws. DDA officials noted that many residential areas are managed by the authority, where plots are being auctioned and apartments constructed. Owners must…

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Nagpur’s Plot Rates Set to Change in Two Years: Maharashtra

NAGPUR: The Maharashtra government is planning to implement CTS-card-level micro-zoning of Ready Reckoner (RR) rates, designed to benefit landowners by eliminating the practice of assigning the same value to a slum tenement and a luxury high-rise within the same area. Revenue Minister Chandrashekhar Bawankule announced this in Nagpur on Thursday. A three-phase, property-by-property survey has commenced, starting in Mumbai, with a timeline for implementation in Nagpur set for the next two years. Bawankule noted that the survey is being conducted by the Maharashtra Remote Sensing Application Centre (MRSAC). He cited a notable city hotel as an example of the existing…

Latest StoriesResidential

Delhi’s NDMC Residents to Get Uniform Property Tax Soon

NEW DELHI: Residents within the New Delhi Municipal Council (NDMC) area will soon be subject to a unified property tax system, as the civic body has completed the necessary bye-laws and technical preparations for a new assessment method, officials announced on Thursday. Officials indicated that the NDMC has modernized its online property tax platform and conducted tests with the National Informatics Centre, setting the stage for the implementation of changes to the outdated rateable value-based assessment approach. A Municipal Valuation Committee is set to be established shortly, after which it is anticipated that the revised framework will come into effect…

Latest StoriesResidential

Govt Tells CIC: No PMAY-Gramin Denial for Temp Work Migration

NEW DELHI: The Ministry of Rural Development has clarified that eligible migrant laborers cannot be refused pucca houses under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G) simply because they are temporarily living outside their native villages for work. This information was provided to the Central Information Commission (CIC) during an RTI hearing. The clarification arose from an RTI request regarding whether rural families migrating temporarily for employment could be excluded from PMAY-G and other rural welfare schemes. According to a recent CIC ruling, the ministry stated, “there is no specific order/circular/rule from the Ministry of Rural Development that a family shall…

Latest StoriesResidential

Delhi’s Low Property Regularisation Response Leads to Fee Cuts, Camps

NEW DELHI: Over a month after the MCD launched a portal for regularizing properties in unauthorized colonies, officials report plans to decrease regularization fees due to only two applications received from eligible beneficiaries. The SWAGAM portal, initiated on April 24, allows residents of unauthorized colonies to regularize their properties on an “as is where is” basis after securing ownership rights under the Centre’s Pradhan Mantri Unauthorised Colonies in Delhi Awas Adhikar Yojana (PM-UDAY). Despite nearly 40,000 PM-UDAY beneficiaries being eligible, only two have taken action through the portal. Officials speculate that this low response is due to a lack of…

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Prime Securities Group unveils ₹1,000 crore real estate AIF

Representative AI image NEW DELHI: Prime Litmus Investment Management, a subsidiary of Prime Securities, has unveiled the Prime Litmus Real Estate Opportunities Fund. This Category II Alternative Investment Fund aims to provide structured credit investments for under-construction real estate projects. The fund targets a corpus of ₹750 crore, with a green shoe option for an additional ₹250 crore, bringing the total potential corpus to ₹1,000 crore. Prime Litmus Investment Management is a collaboration between Prime Research and Advisory, a wing of Prime Securities, and Litmus Global Services LLP. The fund will focus on self-liquidating real estate ventures that offer cash-flow…

Latest StoriesResidential

Shreyas Iyer Leases Worli Property for ₹7.14 Crore

NEW DELHI: Indian cricketer Shreyas Iyer has rented a residential unit in Artesia, Worli, Mumbai, at a starting monthly rent of ₹18.50 lakh. The unit spans 360 sq meters (3,875 sq ft) and includes four car parking spaces. The registration of the deal involved a stamp duty of ₹1.84 lakh, registration charges of ₹1,000, and a security deposit of ₹74 lakh, as detailed in property registration documents reviewed by Square Yards on the Inspector General of Registration (IGR) website. The agreement was officially registered in June 2026. According to an analysis by Square Yards, the lease duration is set for…

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Oberoi Realty invests ₹268.5 crore in Bandra East project

Representative AI image NEW DELHI: Oberoi Realty has invested ₹268.50 crore in equity shares of Centerstage Realty, its fully-owned subsidiary, via a rights issue, as stated in a regulatory filing. The company purchased 26.85 crore equity shares at a nominal value of ₹10 each. Following this transaction, Oberoi Realty maintains its complete ownership and control of Centerstage Realty. Centerstage Realty was established on June 2, 2026, as a special purpose vehicle for the development of railway land in Bandra East, adjacent to the Western Express Highway in Mumbai. Previously, the company disclosed that its bid to the Railway Land Development…