Category: Latest Stories

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Latest StoriesResidential

Luxury Home Sales Soar 85% in H1 2025: Report

NEW DELHI: The luxury real estate sector in India experienced a remarkable growth spurt in the first half of 2025, with sales rising by 85% year-on-year, totaling nearly 7,000 units across the top seven cities, as highlighted in a joint report by CBRE South Asia and ASSOCHAM. This increase indicates a growing interest among high-net-worth individuals (HNIs), ultra-HNIs, and non-resident Indians (NRIs) in premium real estate, driven by macroeconomic stability and a stronger U.S. dollar. The Delhi-NCR market led the trend, accounting for 57% of total luxury sales, approximately 4,000 units, marking a threefold increase from the prior year. Mumbai…

InfrastructureLatest Stories

Chhattisgarh Cabinet OKs Authority to Enhance Urban Growth

Representative image created by AI RAIPUR: On Friday, the Chhattisgarh cabinet approved a series of transformative proposals, highlighted by the establishment of the State Capital Region Authority (SCRA), modeled after Delhi’s NCR. This authority aims to manage rapid urbanization across Raipur, Durg-Bhilai, and Nava Raipur Atal Nagar through systematic and sustainable development. Chaired by Chief Minister Vishnu Deo Sai at the Secretariat in Nava Raipur, the cabinet recognized projections indicating the region could accommodate nearly five million residents by 2031, emphasizing the critical need for efficient land utilization and environmental safeguards. A government statement revealed that the SCRA will prioritize…

InfrastructureLatest Stories

Purandar Airport Objection Hearings Over; Land Survey Starts Soon

Representative image created by AI PUNE: The administration of Pune district has concluded hearings for over 3,000 objections and suggestions from farmers in seven villages of Purandar taluka regarding the proposed ₹3,500-crore international airport. A joint land measurement will commence this month, followed by the submission of a comprehensive report to the state government, according to district land acquisition officials. Officials noted that opinions among villagers vary; some firmly oppose the project, while others seek better compensation, jobs, and rehabilitation packages. “Responses have improved since the hearings began, but many farmers still have concerns. We aim to gain their trust,”…

Latest StoriesRegulatory

PCMC Forms Squad to Tackle Staff Negligence in Illegal Builds

PUNE: The Pimpri Chinchwad Municipal Corporation (PCMC) has set up a dedicated vigilance squad to oversee its staff for any lapses related to illegal building activities. This initiative aims to curb unauthorized development in its early stages, according to a senior civic official. On Wednesday, PCMC’s municipal commissioner, Shekhar Singh, led a review meeting with zonal officers and beat inspectors to address various issues, including illegal constructions, encroachments on footpaths and drainage systems, unregulated vegetable markets, and unauthorized religious structures. Singh emphasized the need for immediate action to stop unauthorized development early on and warned that negligence in enforcement would…

IndustryLatest Stories

Punjab to Revise Banur Master Plan, Zone Agri Land for Homes

MOHALI: To promote urban development, the Punjab government plans to amend the Banur Master Plan, transforming extensive agricultural land into residential zones. This change is proposed for several villages within the Banur revenue estate and is currently open for public feedback. The Directorate of Town and Country Planning, Punjab, has suggested modifications in the ‘Proposed Land Use Plan, Banur’, aiming to redesignate agricultural lands in villages such as Naugiari, Giga Majra, Hulka, Kalauli, Menda Majra, Mote Majra, Nadiali, Manakpur Kallar, Kurara, Tangori, Jhansli, and Sekhan Majra as residential. According to sources in the directorate, the amendments will reorganize the township…

IndustryLatest Stories

Sustainable Cities: India’s Urban Boom Offers Opportunities

Representative image created by AI NEW DELHI: Urbanization should be seen as an opportunity to transform Indian cities into sustainable and inclusive growth hubs, said Durga Shankar Mishra, former Secretary of the Ministry of Housing and Urban Affairs (MoHUA), at the ASSOCHAM Real Estate Conference 2025. He pointed out that under the Viksit Bharat vision, India’s urban population is projected to reach about 880 million by 2047, emphasizing the need for proactive and forward-thinking urban planning. “Real estate currently contributes nearly 13% to India’s GDP, with the affordable housing and development sector expanding at almost 10% annually,” Mishra noted, underscoring…

Latest StoriesResidential

Lotus 300 AOA Questions Noida Authority on 228 Unregistered Flats

NOIDA: The apartment owners association (AOA) of Lotus 300, a condominium located in Sector 107, has issued a legal notice to the Noida Authority for allegedly ignoring Supreme Court orders related to the registration of flats. According to AOA officials, despite receiving occupancy (OC) and completion certificates (CC) for four towers with a total of 228 flats on April 22, the registration process has not progressed. The AOA has expressed concerns about initiating contempt proceedings to safeguard the rights of homebuyers. AOA president Bhuwan Chaturvedi stated that 25 flat owners from towers 3 to 6 had completed their purchases and…

Housing FinanceLatest Stories

Housing finance firms see modest Q1 growth; rate cuts to impact margins

MUMBAI: Housing finance companies (HFCs) are projected to report moderate earnings for the June quarter, with industry-wide loan disbursals increasing by approximately 8% year-on-year, as per analyst projections. Nonetheless, margins are expected to face pressure due to intensified competition from banks and the effects of recent interest rate cuts. Moreover, provisioning costs may rise due to slower recovery rates, potentially resulting in stagnant profit after tax growth. As estimated by PL Capital, HFCs’ assets under management (AUM) are anticipated to exceed ₹3.7 lakh crore by the end of the June quarter, reflecting a 1% sequential growth. However, loan disbursals could…

Latest StoriesRegulatory

Bombay HC Rejects PIL on Salt Pan Land for Dharavi Rehab

File Photo MUMBAI: On Thursday, the Bombay High Court dismissed a Public Interest Litigation (PIL) that contested the allocation of 250 acres of salt pan land for the rehabilitation of individuals affected by the Dharavi redevelopment project. Chief Justice Alok Aradhe and Justice Sandeep Marne stated, “It goes without saying that the state government must consider environmental issues while executing the project.” Advocate and activist Sagar Devre questioned the state’s decisions from August 7 and September 30 regarding the transfer of 255.6 acres of salt pan land in Mulund, Bhandup, and Vikhroli for housing projects for Dharavi’s affected individuals. He…

IndustryLatest Stories

CM Welcomes Investments in Madhya Pradesh Real Estate

INDORE: Chief Minister Mohan Yadav announced on Friday that the Madhya Pradesh government is dedicated to attracting investments in the real estate sector while ensuring necessary amenities like water, electricity, and transportation. The CM mentioned that the Growth Conclave, titled ‘Next Horizon: Building Cities of Tomorrow’, aims to advance urban development in Madhya Pradesh. He highlighted successful infrastructure projects in Surat and Ahmedabad, proposing the establishment of at least ten similar markets in MP. “Being centrally located, MP possesses excellent potential for the real estate sector,” he remarked. “Two decades ago, MP faced challenges with basic amenities such as water,…