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IndustryLatest Stories

Karnataka Housing Board: 772-Acre Project in Devanahalli

Representative AI image BENGALURU: The Karnataka Housing Board (KHB) has proposed a substantial 772-acre housing development near the Information Technology Investment Region (ITIR) in Devanahalli, in response to the growing residential demand stemming from rapid urbanization and industrial expansion in the area. KHB plans to provide residential plots and affordable housing, particularly targeting economically disadvantaged groups, along with essential infrastructure like roads, water supply, and sanitation services. However, the future of this initiative remains uncertain, following the government’s recent cancellation of the acquisition of 1,777 acres due to farmers’ protests over the loss of fertile farmland. Officials reported that KHB…

Latest StoriesResidential

Nehru’s First Official Residence Sells for ₹1,100 Crore

The historic residence of former Prime Minister Jawaharlal Nehru, located at 17 York Road (now Motilal Nehru Marg) in the Lutyens’ Bungalow Zone (LBZ), is expected to have a new owner soon, marking a significant transaction in India’s real estate market, according to sources familiar with the negotiations. The asking price for the expansive 14,973 square-meter estate was ₹1,400 crore, but a prominent businessman in the domestic beverage sector has reportedly agreed to purchase it for around ₹1,100 crore. A prominent law firm has issued a public announcement as part of the final due diligence process. “Our client intends to…

IndustryLatest Stories

Delhi’s Suniyo property tax scheme raises ₹304 crore in 3 months

NEW DELHI: In just three months, the Municipal Corporation of Delhi’s (MCD) Suniyo property tax amnesty scheme has garnered ₹304 crore—over three and a half times the revenue generated from the previous scheme. The Suniyo (Sampatti Kar Niptan Yojana), which will conclude on September 30, has seen a greater number of taxpayers. Data indicates that 102,142 individuals have utilized the Suniyo scheme thus far, compared to 38,805 participants from the Samriddhi scheme initiated in 2022-2023. The Suniyo scheme has outperformed the earlier Samriddhi scheme, which raised only ₹84.23 crore during the same period last year, as noted by an MCD…

IndustryLatest Stories

Maharashtra to Implement Favorable Real Estate Policies

NEW DELHI: Maharashtra is committed to developing infrastructure-related policies, including housing initiatives that adapt to evolving needs, as stated by Meghana Sakore Bordikar, Maharashtra’s Minister of State. She made these remarks during the Naredco 17th National Convention in Delhi. Niranjan Hiranandani, Chairman of Naredco, stressed that the housing and real estate sectors must expand at a minimum rate of 15% annually if India aims to achieve developed-nation status before the 2047 target year. Bordikar did not confirm any plans regarding the reduction of stamp duty in Maharashtra. She noted that while no immediate commitments can be made in that area,…

CommercialLatest Stories

WeWork India Leases 22,700 sq ft to Chargebee in Chennai

NEW DELHI: WeWork India Management, a flexible workspace provider, has leased 22,000 sq ft to Chargebee, a global billing and monetization company, at WeWork Ramanujan Intellion Park in Chennai. Earlier in 2025, Chargebee relocated its office from Ireland to WeWork 5 Harcourt Road in Dublin. In July 2025, WeWork India secured leases for two centers: WeWork EON Free Zone in Pune and WeWork Ramanujan Intellion Park in Chennai. The Chennai location occupies three floors within the Littlewood Tower, offering 150,000 sq ft of space and 2,400 desks, while the Pune center features 60,000 sq ft in Kharadi. WeWork India is…

Latest StoriesResidential

Karimadam Colony Housing Complex in Thiruvananthapuram Opens 128 Flats

Representative image THIRUVANANTHAPURAM: The inauguration of the Karimadom Colony Housing Complex, which includes 128 newly built flats, took place on Monday. This marks a significant step in the city corporation’s initiative to provide affordable housing for the homeless. The ceremony was led by Mayor Arya Rajendran, with Minister for General Education and Labour V. Sivankutty officially inaugurating the project’s first phase. The complex, constructed at a cost of Rs 27 crore funded by the corporation, is part of a broader initiative to create 200 homes in Karimadom. The city has actively pursued various housing projects to make permanent homes a…

Latest StoriesResidential

Hema Malini Sells Mumbai Apartments for ₹12.5 Crore

NEW DELHI: Hema Malini has sold two identical apartments in Oberoi Springs, Oshiwara, Mumbai, for ₹12.50 crore each. Both apartments feature a carpet area of 847 sq ft (79 sq meters) and a built-up area of 1,017 sq ft (94.46 sq meters). Each transaction, priced at ₹6.25 crore, includes one car parking space. The stamp duty for each sale amounted to ₹31.25 lakh, along with registration fees of ₹30,000, as indicated by property registration documents from the Inspector General of Registration (IGR) reviewed by Square Yards. Both sales were officially registered in August 2025. Published On Sep 2, 2025 at…

Latest StoriesResidential

Lucknow Development Body Announces Anant Nagar Plot Draw

Representative AI image LUCKNOW: The Lucknow Development Authority (LDA) will conduct a lottery for 332 residential plots under the Anant Nagar Housing Scheme (Mohan Road) at Indira Gandhi Pratishthan from September 8 to 10. The draw is set to occur in Mercury Hall with applicants present, and will also be streamed live on LDA’s YouTube channel. During the second phase of registration, from July 11 to August 10, 8,568 applicants submitted online applications for plots in Adarsh Khand. According to Deputy Secretary Madhavesh Kumar, the lottery will include 121 plots of 112.5 sq m, 37 of 162 sq m, 50…

InfrastructureLatest Stories

Odisha Introduces 7 New Municipalities, 16 NACs for Better Services

BHUBANESWAR: In an effort to enhance civic amenities and empower urban local bodies (ULBs), Chief Minister Mohan Charan Majhi announced on Sunday the establishment of seven new municipalities and 16 notified area councils (NACs) across various districts. This initiative allows these areas to manage their own budgets. During the state’s Local Self Governance (LSG) Day celebration, Majhi emphasized the importance of making urban areas free of potholes and closing open drains by April 2026. He stated that urban regions represent development, and achieving clean, pothole-free roads and infrastructure is crucial for meeting this goal. The new NACs include Loisinga in…

Latest StoriesResidential

Karnataka’s Fee Hike Raises Inventory Concerns Amid Slow Sales

BENGALURU: Karnataka’s decision to increase the property registration fee to 2% of the transaction value is set to affect Bengaluru’s housing market, which is already struggling with affordability issues for buyers. The rise in transaction costs for home purchases is steep, with experts warning it may diminish buyers’ confidence in the market. “This change will strain homebuyers’ budgets,” noted Navin Dhanuka, director at ArisUnitern RE Solutions. He added that developers will likely need to adjust project financing to sustain demand, given that significant inventory is expected to enter the market in the coming quarters. Industry estimates suggest that Bengaluru’s housing…