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.

Latest StoriesResidential

Prayagraj Offers Property Tax Relief for New Buildings

PRAYAGRAJ: In a significant move for property owners, the Prayagraj Municipal Corporation (PMC) is set to introduce tax benefits for newly constructed residential buildings in the city. A 25% tax rebate will be offered on the annual rental value assessment of these new properties, leading to a corresponding reduction in house tax for qualifying owners. The decision was made during a meeting led by Chief Tax Assessment Officer Sanjay Mamgai, involving tax superintendents and departmental staff. Officials were instructed to apply the 25% concession when evaluating even newly built houses. However, this benefit is exclusive to purely residential properties, excluding…

IndustryLatest Stories

Telangana: Minimal Rise in CURE Building Approval Revenue Post-Merger

HYDERABAD: Despite the merger of 17 municipalities into three corporations – Greater Hyderabad Municipal Corporation (GHMC), Cyberabad Municipal Corporation (CMC), and Malkajgiri Municipal Corporation (MMC) – revenue from building approvals in the Telangana Core Urban Region (CURE) has seen only a slight increase. The original GHMC, which covered six zones over 650 sq km, generated ₹1,138 crore from building permits in 2024-25. In contrast, the newly expanded CURE, now comprising 12 zones, reported ₹1,172 crore in 2025-26. However, this represents a significant drop of approximately ₹282 crore compared to 2022-23. Of the 15,536 building permissions granted in 2025-26, a majority—12,014…

Latest StoriesRegulatory

SC Directs Municipal Bodies to Survey Commercial Misuse in Homes

JAIPUR: The Supreme Court has mandated that municipal bodies in all state and Union Territory capitals conduct a survey of residential areas used for commercial activities, submitting affidavits detailing violations by May 15, 2026. This places the Jaipur Municipal Corporation (JMC) under a tight deadline. The directive was issued during a hearing regarding unauthorized commercial use in a Chennai colony, with Justices Ahsanuddin Amanullah and R. Mahadevan expanding its nationwide application. “Authorities must conduct a thorough investigation to identify areas designated for residential use that are being misappropriated for commercial purposes. A comprehensive report outlining these cases must be presented…

Latest StoriesResidential

TIDCO’s Vijayawada Colonies Introduce New Township Model

VIJAYAWADA: The urban housing landscape in Andhra Pradesh is experiencing a notable transformation as the Andhra Pradesh Township and Infrastructure Development Corporation (APTIDCO) introduces integrated living models for economically weaker sections. Instead of merely offering standalone houses, the state is now developing “mini townships” that blend housing with essential infrastructure, livelihoods, and social amenities. APTIDCO Managing Director Sunil Kumar Reddy highlights the shift in focus from mere construction to ensuring complete habitability. “In the past, housing projects often concluded with the handover of units. Today, our goal is to create fully livable colonies equipped with roads, water supply, drainage, lighting,…

IndustryLatest Stories

Chandigarh Boosts FAR to Lower Flat Prices, Permit 6 Floors

Representative AI image CHANDIGARH: To enhance housing affordability and revive the recently stalled Chandigarh Housing Board (CHB) project in Sector 53, the UT administration has approved an increase in the permissible Floor Area Ratio (FAR) to 2.4, allowing for the construction of taller residential buildings as part of the proposed group housing scheme. The change, suggested by the urban planning department, will facilitate the construction of buildings up to six stories high. Officials noted that this adjustment is designed to increase the number of housing units, thereby lowering per-unit costs and improving accessibility for buyers. “The revised FAR allows for…

IndustryLatest Stories

Ghaziabad Mandates Tree Planting for New Plot Approvals

GHAZIABAD: The Ghaziabad Development Authority has introduced a new regulation making tree planting mandatory based on plot size to enhance the city’s green cover. This rule, effective from April 1, stipulates that no approval will be granted without a map that designates areas for planting. The Authority has implemented a security deposit system, which will be refunded if officials are satisfied with the tree planting on the respective plots. An official stated that for every 100 sqm of land, two trees are required, and these must be clearly marked on the submitted map. For commercial and industrial plots, two trees…

Latest StoriesResidential

Maharashtra CM Calls for Strong Affordable Housing System in Mumbai

File Photo MUMBAI: On Friday, Maharashtra Chief Minister Devendra Fadnavis directed the establishment of an effective system for affordable rental housing in Mumbai, along with the creation of a dedicated portal for public access. Recognizing the influx of individuals moving to Mumbai for employment and entrepreneurship, Fadnavis emphasized the pressing need for housing, asserting that the government must ensure the availability of rental properties at reasonable prices. He underscored the necessity for supply to meet demand and advocated for a coordinated approach to alleviate challenges faced by both landlords and tenants, as indicated in an official statement. Fadnavis also stressed…

Latest StoriesResidential

Maharashtra CM: Cluster Redevelopment to Aid 700K Slum Dwellers

Representative AI image MUMBAI: Approximately seven lakh slum dwellers will benefit from the slum cluster redevelopment scheme, as informed to CM Devendra Fadnavis during the 16th meeting of the Slum Rehabilitation Authority (SRA) on Friday at the Sahyadri state guesthouse. SRA chief Mahendra Kalyankar stated, “Due to the limited response to joint venture projects and stalled schemes, the government has decided to promote integrated and sustainable development under the Slum Cluster Redevelopment scheme, in alignment with the state housing policy for 2025.” He added that the process to identify slum cluster areas is underway. During the meeting, an additional Rs…

Latest StoriesRera

Jharkhand RERA Fines 77 Builders ₹83.5 Lakh for Report Delays

RANCHI: The Jharkhand Real Estate Regulatory Authority (JRERA) levied a cumulative fine of Rs 83,50,000 against 77 builders on Friday due to their failure to submit required quarterly progress reports (QPR) and non-compliance with court summons. JRERA Chairman Birendra Bhushan warned of more stringent actions, stating, “The defaulters did not show up in court today, leading to these penalties. If they do not settle their dues, their bank accounts will be frozen.” This enforcement is part of a broader initiative by the regulator. Recently, notices were issued to 106 builders for breaching transparency regulations. Two developers have settled their fines,…

IndustryLatest Stories

Ajmera Realty’s FY26 Pre-Sales Reach ₹1,701 Crore

NEW DELHI: Ajmera Realty & Infra India Ltd has announced a remarkable 57% increase in pre-sales to ₹1,701 crore for FY2026, driven by new project launches and consistent demand. The company reported sales of 6.6 lakh sq ft during the fiscal year, which is an 11% rise compared to the prior year. Collections surged by 71% to reach ₹1,103 crore. According to Dhaval Ajmera, Director of Corporate Affairs, “We have not only surpassed our annual pre-sales expectations but also achieved the highest-ever pre-sales figure of ₹1,701 crore. Our collections of ₹1,103 crore in FY26 reflect exceptional market absorption of our…