Category: Latest Stories

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Latest StoriesResidential

NCR Housing Launches Dip 40% in Q2 2026; Sales Down 6%

NEW DELHI: In Q2 2026, the National Capital Region (NCR) saw housing sales surpass new launches, even as fresh supply sharply declined, as per Anarock Research. The quarter recorded 11,205 new residential launches, which is a 40% decline from 18,760 units in Q2 2025. Meanwhile, housing sales decreased by 6% year-on-year, totaling 13,365 units compared to 14,255 the previous year. Available inventory in NCR remained relatively stable at 89,086 units at the end of Q2 2026, slightly up from 89,005 units a year prior. Anarock noted that NCR was the only market among the top seven cities that maintained a…

Latest StoriesResidential

Mumbai property registrations up 6% to 80,221 in H1 2026

NEW DELHI: According to Knight Frank India, Mumbai, governed by the BMC, saw 80,221 property registrations in the first half of 2026, marking a 6% increase year-on-year. The total includes both primary and secondary market transactions, with stamp duty collections rising by 4% year-on-year to ₹6,968 crore. This performance marks the highest first-half results for property registrations and stamp duty collections since 2013. In June 2026, Mumbai is projected to have 13,302 property registrations, reflecting a 15% increase year-on-year, the highest for June in 14 years. The Maharashtra government anticipates ₹1,077 crore in stamp duty revenue for June 2026. Compared…

IndustryLatest Stories

Indore Mayor: 10% Tax Rebate for Rainwater Harvesting Systems

INDORE: Mayor Pushyamitra Bhargav announced on Monday a 10% rebate on property tax for buildings that implement functional rainwater harvesting systems. This initiative is aimed at enhancing groundwater conservation throughout the city. Building owners interested in this incentive will need to complete an on-site inspection, testing, and certification by authorized municipal building officers. The administration has also stated that if a certified rainwater harvesting system is found to be non-functional or discontinued during future inspections, the property tax exemption will be rescinded starting the following financial year. During a review meeting with Indore Municipal Corporation officials, Bhargav evaluated various aspects…

Latest StoriesResidential

Raipur: 77 Homes Demolished in Airport Anti-Encroachment Drive

Representative AI image RAIPUR: On Monday, authorities demolished 77 ‘illegal’ houses situated on government land near Raipur airport in Chhattisgarh, leading to protests from residents, including women who tried to block bulldozers. They argued that many of the structures were built under the PMAY scheme. The demolition was carried out by the revenue department, police, and Raipur Municipal Corporation in Sammanpur (Nakti) village within the Dharsinwa development block, a government official reported. The government land, approximately nine hectares, had allegedly been occupied illegally for an extended period, and the demolition was part of an anti-encroachment effort, according to an official…

Latest StoriesRegulatory

Ahmedabad Freezes 81 Properties for Unpaid Tax Dues

AHMEDABAD: The Ahmedabad Municipal Corporation (AMC) has ramped up its efforts against property tax defaulters in the East Zone, aiming to recover more than ₹1.1 crore. During this initiative, the East Zone property tax department has imposed encumbrances on 81 properties, thereby preventing their transfer until all outstanding dues are settled. Moreover, the civic body has initiated auction proceedings for 22 properties owned by habitual defaulters. AMC officials stated that the enforcement campaign will expand in the upcoming weeks, and more property owners who have not paid their dues may face similar actions. The corporation has also issued stern warnings…

Latest StoriesResidential

Telangana Housing Minister: 2BHK Homes for Musi Oustees

HYDERABAD: Telangana’s revenue and housing minister, Ponguleti Srinivas Reddy, has instructed officials to allocate 2 BHK homes to families displaced by the Musi rejuvenation project. He emphasized that the state government is committed to providing lawful compensation and necessary rehabilitation for those who relinquish their lands. Srinivas Reddy convened a review meeting regarding the Musi project’s rehabilitation and land acquisition in the Secretariat on Monday. “Our vision is to restore the Musi River as part of a broader ambition to elevate Hyderabad into a world-class city, transforming the river into a center for tourism, employment, and economic progress,” he noted.…

IndustryLatest Stories

Haryana Delays Launch of New Occupation Certificates System

GURUGRAM: The proposed self-certification system has been postponed. All approvals for building plans and occupation certificates (OCs) will proceed under the current regulations for the time being. The state will maintain the existing approval process until the necessary digital infrastructure and administrative framework are established. The Haryana government has issued new implementation guidelines for amendments to the Haryana Building Code-2017, emphasizing that key provisions from the revised regulations notified on December 8, 2025, will be delayed. According to the directives from Additional Chief Secretary Anurag Aggarwal, the self-certification system for low-risk residential buildings and third-party certification for high-risk structures, including…

IndustryLatest Stories

Maharashtra Deputy CM: 3-Year Deadline for Housing Projects

File Photo THANE: Maharashtra’s Deputy Chief Minister and Housing Minister Eknath Shinde announced on Sunday that developers are expected to complete housing and redevelopment projects within three years. He emphasized that builders who meet deadlines and maintain quality will receive priority for future government contracts. Shinde made these remarks while distributing keys to beneficiaries of a redevelopment project in Majiwada, Thane. He expressed a firm stance on addressing delays in redevelopment projects. The state government aims to eliminate administrative bottlenecks to expedite the completion of long-overdue housing projects and promote cluster redevelopment across Maharashtra. “Homeownership is a matter of dignity…

IndustryLatest Stories

Rajasthan to Revamp Land Conversion Norms to Boost Business

Representative AI image JAIPUR: The revenue department is working on amendments to Section 90A and associated provisions aimed at streamlining the change of land use (CLU) process as part of the Centre’s Business Reforms Action Plan (BRAP) Part II. This initiative aims to enhance the business environment in Rajasthan. The proposed amendments, pending approval from the revenue minister, intend to permit land-use changes in both planned and unplanned areas without needing separate CLU approvals, provided a specific conversion fee is paid. Officials indicated that this would alleviate regulatory challenges while safeguarding state revenue. Industry stakeholders have long expressed concerns that…

Latest StoriesResidential

Cyberabad’s Co-Living Spaces Experience Rapid Growth

HYDERABAD: As housing rentals rise consistently, the western corridor has become a popular area for co-living spaces, experiencing a tenfold growth in the past four years. According to the IT Corridor Hostels Association, Hyderabad saw its co-living facilities surge from about 20 during the pandemic to over 250 today. This increase is largely due to shifting accommodation preferences among young professionals, with over 90% located in key IT hubs like Gachibowli, Hitec City, Kondapur, Kukatpally, and Miyapur. Transitioning from PGs to co-living spaces Co-living spaces now constitute nearly 5% of around 4,500 hostels serving both men and women in the…