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

Haryana Extends Settlement Scheme for Faster EDC Recovery

GURUGRAM: The Haryana government has extended its one-time settlement scheme while tightening financial terms to discourage developer delays. The extension of the “Samadhan Se Vikas” scheme until March 31, 2026, addresses long-overdue external development charges (EDC) related to licensing and land use across the state. EDCs are mandatory fees imposed by local governments on developers to support essential infrastructure and amenities outside project boundaries—like roads, water, sewage, and parks—ultimately passed on to homebuyers. According to officials, this decision by the Department of Town and Country Planning (DTCP) came after assessing the “slow pace of recovery under earlier deadlines” amid rising…

Latest StoriesRegulatory

CAG Report Highlights Issues in Chhattisgarh Housing Scheme

RAIPUR: The Comptroller and Auditor General of India (CAG) has identified critical deficiencies in the execution of key welfare and infrastructure initiatives in Chhattisgarh. This includes urban housing, labor welfare, and renewable energy projects, as detailed in the Performance and Compliance Audit (Civil) Report for the period ending March 2023. The report, presented in the state assembly by Finance Minister O P Choudhary on Wednesday, consists of three chapters focused on audit planning, expenditure analysis, the performance audit of the Pradhan Mantri Awas Yojana – Urban (PMAY-U), and a compliance audit of welfare schemes managed by the Labor Department. It…

Latest StoriesResidential

Telangana Housing Board Launches LIG Flats Sale in Hyderabad

Representative Image HYDERABAD: The Telangana Housing Board has introduced one-bedroom flats aimed at the Lower Income Group (LIG) in Gachibowli and several other locations. According to V P Gautam, the board’s vice-chairman, a total of 339 flats are available in Hyderabad, Khammam, and Warangal at competitive market prices. These flats are situated in gated communities where many families reside, specifically allocated for the LIG category to ensure access to quality housing. Positioned in well-developed and sought-after areas, the flats are offered at prices that are substantially lower than those in the open market. Officials highlighted that the flats are designated…

Latest StoriesRegulatory

Delhi HC fines ‘serial litigant’ for multiple construction pleas

NEW DELHI: On Thursday, the Delhi High Court imposed a fine of Rs 50,000 on a ‘serial litigant’ who had filed multiple petitions related to illegal construction in the national capital but failed to follow up on them. This decision was made by Justice Mini Pushkarna while reviewing the fifth writ petition from the same litigant concerning illegal construction in the RK Puram area. The judge noted a pattern of filing without follow-through. In an order dated December 2, the court stated, “It is evident that the petitioner is a serial litigant and has submitted a number of writ petitions…

Latest StoriesRegulatory

Lucknow civic body to monitor tax for all properties

LUCKNOW: Following directions from the state government, the Lucknow Municipal Corporation plans to implement a new Property Tax Management System (PTMS) to oversee property tax assessments, collections, and outstanding payments for all residential and commercial properties in the city. This initiative is part of a comprehensive reform of the property tax system led by the state’s urban development department. The current property tax software utilized by LMC will be replaced by PTMS, which will create a detailed digital record of every residential and non-residential property within municipal boundaries. Additionally, the system will be integrated with the Smart City Command and…

InfrastructureLatest Stories

Vadodara civic body receives ₹235 crore for urban projects

VADODARA: The Vadodara Municipal Corporation (VMC) has been awarded a grant of Rs 235 crore under the Swarnim Jayanti Mukhyamantri Shaheri Vikas Yojana, announced on Wednesday. The cheque was presented to VMC officials by Chief Minister Bhupendra Patel during a ceremony in Ahmedabad. This brings VMC’s total allocation under the scheme to Rs 455 crore. Previously, the civic body received Rs 130 crore, and with the latest release, the total amount now stands at Rs 365 crore. During the same event, cheques were distributed to various civic bodies across the state, totaling Rs 2,800 crore from the Urban Development Department.…

IndustryLatest Stories

Sumitomo Realty Bets on Mumbai’s Serviced Apartments

MUMBAI: Sumitomo Realty and Development, Japan’s third-largest developer, is set to expand its operations in India with a unique approach: focusing on Mumbai and managing apartments instead of selling them, executives told Reuters. Japanese developers are increasing their footprint in India’s $300 billion real estate market, drawn by rising rents and significantly lower construction costs than in Tokyo, New York, or London. Companies like Mitsui Fudosan and U.S.-based Blackstone have been expanding across India through partnerships with local developers or acquiring completed buildings, in light of slow land acquisition processes. In contrast, Sumitomo is focusing on Mumbai and opting for…

Latest StoriesRera

Homebuyers Push for Stronger Karnataka RERA Enforcement

BENGALURU: The Karnataka Home Buyers’ Forum has urged the state government to enforce Section 17 of the Real Estate (Regulation and Development) Act, 2016. This is aimed at safeguarding the interests of home buyers. According to Section 17, promoters must execute a registered conveyance deed for the allottee, including the undivided share of common areas, and provide physical possession of the respective apartment, plot, or building. Additionally, the common areas must be handed over to the apartment association or the competent authority upon project completion. In a comprehensive letter addressed to the Greater Bengaluru Authority and the Urban Development Department,…

InfrastructureLatest Stories

HC directs Meghalaya to acquire airport land in four months

GUWAHATI: The Meghalaya High Court has instructed the Ri-Bhoi Deputy Commissioner (DC) and the Transport Department to complete the acquisition of 11.75 acres of private land for Shillong airport’s expansion by January 10. This land is to be handed over to the Airports Authority of India (AAI). The directive was issued by Chief Justice Soumen Sen and Justice W Diengdoh, highlighting the urgency and delays in securing the necessary land. The bench noted that the state government’s report indicated that the Ri-Bhoi DC would take steps to clear any encumbrances and transfer the land by January 20. Following this, the…

InfrastructureLatest Stories

CVO Takes Action on Illegal Construction in Ludhiana’s BRS Nagar

LUDHIANA: The Chief Vigilance Officer (CVO) of the local bodies department has instructed the municipal corporation (MC) to take action against the unlawful commercial construction of a building in BRS Nagar. This comes after a complaint was lodged by social activist Kuldeep Singh Khaira. The CVO’s directive concerns a building located at residential plot number 347-B in BRS Nagar, which is reportedly being developed for commercial use, violating the town planning scheme and the Ludhiana Master Plan. According to the CVO’s letter, construction of the building’s second floor is already “in full swing.” Furthermore, the letter raised concerns about repeated…