Category: Latest Stories

Access daily updates on all real estate sectors including residential, commercial, retail, and infrastructure. Stay ahead with market trends, policy changes, investment news, and expert analysis from across the globe.

IndustryLatest Stories

Dharavi Redevelopment Accelerates: 11,000 Homes Planned

MUMBAI: The redevelopment of Dharavi, Asia’s largest slum, is gaining momentum as the Dharavi Redevelopment Project (DRP) has called upon residents of Sector-6, situated on a 35-acre railway land in Matunga, to cooperate with authorities and vacate their homes to facilitate construction of rehabilitation buildings. The initial phase aims to develop 11,000 tenements of 350 sq ft each in Dharavi’s Sector 6, which has been acquired from Indian Railways across multiple stages. This railway land is a vital part of the Dharavi Notified Area (DNA), originally planned to be mostly vacant and ready for construction. However, the presence of existing…

Latest StoriesResidential

Haryana Okays Housing for 2,646 PMAY-Urban Beneficiaries

CHANDIGARH: The Haryana government has made significant strides towards offering affordable housing for urban poor and middle-class families, approving housing projects for 2,646 beneficiaries across 60 urban local bodies (ULBs) on Tuesday. The decisions were taken during a session of the state-level sanctioning and monitoring committee under the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0. The meeting, led by Chief Secretary Anurag Rastogi, highlighted the state’s progress in executing the central government’s housing initiative aimed at providing pucca houses to families in the economically weaker section (EWS), lower income group (LIG), and middle income group (MIG) in urban areas. Mohammed Shayin,…

Latest StoriesResidential

Karnataka to Create Private-Style Layouts for SC/ST Groups

BELAGAVI: The state government has launched the ‘Buddha, Basava, Ambedkar Site Allotment Scheme’ to create residential layouts comparable to private developments. The scheme aims to develop fully serviced layouts with complete infrastructure, providing residential sites to individuals from Scheduled Castes (SC) and Scheduled Tribes (ST) throughout the state. During the announcement, Public Works and Belagavi district in-charge Minister Satish Jarkiholi shared that the initiative will commence as a pilot project spanning 1,000 acres. After paying tribute to Dr. Babasaheb Ambedkar’s statue on his birth anniversary at Dr. B R Ambedkar Park in Belagavi, the minister emphasized that this is a…

CommercialLatest Stories

Mindspace REIT Buys 51% of ITPC – Radial Road for ₹3,000 Cr

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has secured a 51% ownership stake in the 2.6 million sq ft International Tech Park Chennai, Radial Road (ITPC – Radial Road) from AIGP2 Chennai 1, a subsidiary of CapitaLand India Growth Fund 2 (CIGF2), for ₹3,000 crore. The remaining 49% stake will be held by 360 ONE Asset’s real assets funds. This acquisition is expected to contribute ₹241 crore to net operating income (NOI) on a proforma basis (51% attributable to Mindspace REIT), while increasing the loan-to-value (LTV) ratio from 28.0% to 30.3%. Regarding the acquisition, Ramesh Nair, MD and CEO…

IndustryLatest Stories

Lucknow plans to transform low-rise buildings into high-rises

LUCKNOW: The Lucknow Development Authority (LDA) is planning to replace old low-rise buildings in residential schemes with modern high-rise apartments as part of the Uttar Pradesh Urban Redevelopment Policy-2026. LDA Vice-chairperson Prathamesh Kumar has instructed officials to develop detailed redevelopment proposals. The first phase will focus on residential blocks along Wazir Hasan Road in Hazratganj, and also includes schemes in Paper Mill Colony and Sector-G of the Kanpur Road Scheme. Officials noted that the Wazir Hasan Road complex, constructed in 1988, consists of four G+3 towers housing 64 flats. While most units are registered, a few remain unallotted or pending.…

Latest StoriesRegulatory

CBI Raids Eight States in Builders-Financial Institutions Case

NEW DELHI: On Tuesday, the CBI executed searches at 77 locations across eight states linked to a builders-financial institutions nexus case, officials reported. The searches included areas in Delhi, Chennai, Puducherry, and Bengaluru, among others. This case was assigned to the CBI by the Supreme Court, which on April 29, 2025, instructed the agency to initiate seven preliminary inquiries against builders in the NCR, notably Supertech Limited. Later that year, the court ordered the registration of 22 cases involving homebuyers in the National Capital Region (NCR) who were misled through the subvention scheme. On September 23 of last year, the…

IndustryLatest Stories

Waste Charges Delay Property Tax Payments in Bengaluru Apartments

BENGALURU: Large apartment complexes are typically quick to pay their annual property tax to the Greater Bengaluru Authority (GBA) when the payment portal opens in April. However, this year’s response in the first two weeks has been surprisingly slow. The confusion arises from unclear definitions and calculations surrounding bulk waste generators, hindering early tax payments. There is ongoing confusion about solid waste management (SWM) charges, especially for apartment complexes that produce over 100 kg of waste per day. Although bulk waste generators can qualify for exemptions, they must declare their status on the property tax portal, which is proving to…

InfrastructureLatest Stories

Indore Demolishes 16 Illegal Row Houses in Crackdown

Representative image INDORE: On Monday, the Indore Municipal Corporation (IMC) demolished 16 illegal row houses in the Anjani Nagar and Jagdish Nagar areas. This action is part of an ongoing effort to curb the expansion of unauthorized settlements. The operation was concentrated in Zone 4. In Anjani Nagar, four row houses, illegally built near a drain, were fully demolished. In Jagdish Nagar, located in the Banganga area, 12 row houses were targeted. It was reported that six of these were close to completion, while the other six were still under construction. The civic body also tore down roads and drainage…

IndustryLatest Stories

Jharkhand Housing Board Revokes Trade Licenses in Colonies

RANCHI: Following a recent Supreme Court ruling that requires municipal bodies across all states and Union Territories to assess residential properties being utilized for commercial purposes and submit affidavits by May 15, traders operating in Bariatu and Argora housing colonies are worried about their means of livelihood. Binay Lakra, secretary of the Jharkhand State Housing Board (JSHB), remarked, “These properties were assigned for residential use, meaning that commercial activities cannot be allowed. We have asked the Ranchi Municipal Corporation to revoke such trade licenses.” Bariatu Housing Colony consists of over 500 housing units. “These were allocated by JSHB under various…

Latest StoriesRera

Gurugram: Vatika Ordered to Pay ₹62 Lakh for Delayed Plot Handover

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has mandated realtor Vatika Ltd to pay Rs 62.4 lakh in compensation to a couple after it failed to deliver a residential plot on time, according to an order dated April 7, 2026. Homebuyers Vinay Kumar and Shalini Kumari purchased a 240 square yard plot in the developer’s ‘Vatika India Next’ project in Sector 85 back in 2010. The agreed purchase price was Rs 62.7 lakh, with possession promised by July 27, 2013. The authority discovered that the assigned plot was not included in the approved layout, and no development had occurred…