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

Fire Exposes Dangers of Life in Unfinished Societies

Representative AI image NOIDA: A fire erupted on the 21st floor of Tower 4 at Aranya Society in Sector 119 on Monday, highlighting the risks faced by numerous homebuyers residing in incomplete, insolvency-afflicted housing projects throughout Noida. This incident has reignited calls for mandatory fire safety audits and greater accountability regarding stalled developments. Aranya is among over 60 such projects in Noida where residents were compelled to occupy units before completion—not out of choice, but due to financial constraints that prevent them from paying both rent and home loan EMIs. The society, comprising nearly 2,500 units, has been under Corporate…

CommercialLatest Stories

Delhi Builder Abandons Decades-Long Commercial Project

Representative AI image NEW DELHI: After more than thirty years of failing to construct and deliver promised commercial units in Plaza-4 of the Central Square Complex at Bara Hindu Rao, the builder has notified Delhi RERA that it is unable to complete the project and has effectively “abandoned” it due to a lack of sanctioned building plans. According to a Delhi RERA order dated May 12, recently uploaded to its website, the attorney for Purearth Infrastructure Ltd stated this during a hearing involving complaints from three buyers. The builder’s counsel indicated their willingness to refund allottees as per the RERA…

CommercialLatest Stories

Gujarat to reclaim Infocity land, lease ends in 2030

GANDHINAGAR: The Gujarat government has chosen not to extend the lease of Creative Infocity Ltd, the developer behind the state’s key Infocity project in Gandhinagar. This decision paves the way for the government to regain control of the extensive 116-acre campus once the concession period concludes in 2030. This decision, made at the highest levels of state government, follows a prolonged dispute between the government and the developer over alleged breaches of the concession and lease agreements. While the 30-year lease is set to expire in July 2030, the Department of Science and Technology has begun steps to reclaim the…

Latest StoriesRera

OREAT: Odisha RERA’s Fee Retention is Arbitrary

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has recently ruled that the Odisha Real Estate Regulatory Authority (ORERA) cannot withhold the full registration fees for projects in cases of rejection or delayed withdrawal. The tribunal deemed such actions arbitrary and lacking in legal foundation. The tribunal delivered this verdict while reviewing two similar appeals involving prominent residential projects in the city, dismissing ORERA’s refusal to issue refunds and ordering the return of the registration fees, retaining only 12% for processing costs. In total, ORERA collected over Rs 20 lakh in registration fees from the two developers. In the first…

IndustryLatest Stories

Godrej Properties Purchases 47 Acres in Chennai

Representative AI image NEW DELHI: Godrej Properties (GPL) has secured a 47-acre land parcel through outright purchase, situated off Old Mahabalipuram Road (OMR) in South Chennai. The future development on this site is anticipated to mainly consist of plotted residential units, with an expected developable area of 1.2 million sq ft, and a projected revenue potential of ₹500 crore. Gaurav Pandey, MD & CEO of the company, stated, “South Chennai has become one of the most promising residential micro-markets in the region, bolstered by improved infrastructure and increasing interest from end-users.” Published On Jun 30, 2026 at 08:23 AM IST…

IndustryLatest Stories

Corporate Giants Embrace Urban Regeneration Amid Redevelopment Race

Representative AI image MUMBAI: Major corporate groups in India are increasingly focusing on urban regeneration, indicating a transformative shift in the real estate sector where redevelopment is becoming as valuable as traditional land acquisitions. In recent months, firms linked to Reliance Industries, Adani Group, JSW Group, Shapoorji Pallonji Group, and Lodha Developers have been aggressively pursuing significant redevelopment opportunities across Mumbai, including aging housing colonies and extensive urban renewal schemes. Recently, Vedanta Group diversified into real estate, expanding its portfolio beyond metals and mining. “The increase of large corporates entering the Indian real estate sector indicates a transition from a…

InfrastructureLatest Stories

MCD Surveys 28 Lakh Delhi Buildings, Marks 19 as ‘Dangerous’

NEW DELHI: The Municipal Corporation of Delhi (MCD) has identified just 19 dangerous structures among nearly 28 lakh buildings surveyed so far during its annual pre-monsoon inspection, raising concerns about the exercise’s effectiveness. Although the survey typically wraps up by June 15, MCD claims it has completed around 85% of the task, inspecting approximately 27.8 lakh properties against a target of 32.5 lakh for this year. This survey, which spans 3-4 months, is executed annually before the monsoon by teams from the buildings and maintenance departments. If initiated in March, at least 30,000 buildings would need to be surveyed daily.…

InfrastructureLatest Stories

Maharashtra Invests ₹30 Crore in Metro Phase-II, Total at ₹607 Crore

NAGPUR: The Maharashtra government has allocated an additional ₹30 crore towards its equity contribution for the Nagpur Metro Phase-2 project. This brings the state’s total equity contribution to ₹607 crore, which constitutes over 60% of its committed share of ₹998.20 crore, following the recent approval by the urban development department. This recent allocation is part of the state’s commitment under a tripartite agreement signed in September 2023 with the Centre, the Maharashtra government, and the Maharashtra Metro Rail Corporation Limited (MahaMetro). The government document indicates that the ₹30 crore has been released as an unconditional equity contribution from the 2026-27…

IndustryLatest Stories

Puravankara to Co-Develop 6.4-Acre Site in Bengaluru

Representative AI image NEW DELHI: Puravankara has entered a joint development agreement for a 6.4-acre land parcel in Sarjapur, Bengaluru, with an estimated gross development value of ₹1,000 crore. The project will have a saleable area of approximately 0.8 million sq ft and will be developed as a residential project. The land is situated in Kaggalipura village, Sarjapura Hobli. The company stated that this transaction has increased its total potential gross development value (GDV) from acquisitions and JDAs in Q1 FY27 to ₹5,200 crore. In the first quarter of FY27, Puravankara announced four land transactions in Bengaluru, covering about 41.93…

IndustryLatest Stories

Credai Karnataka Urges Faster Approvals to Reduce Red Tape

BENGALURU: While the government is advocating for vertical growth to address the soaring demand for urban housing, developers are reporting that prolonged approval delays and bureaucratic hurdles are hindering project execution and delaying home deliveries. Recently, Karnataka has eased occupancy certificate (OC) regulations. Initially, residential buildings on plots up to 1,200 square feet were exempted from the OC requirement for electricity connections, which was later expanded to plots of up to 2,400 square feet, given they have approved building plans and adhere to basic compliance requirements. Additionally, the state is pushing for expedited, systematized online approvals to reduce delays in…