Category: Latest Stories

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Latest StoriesResidential

Gujarat CM Sets ₹200 Annual House Tax for PMAY-Gramin Beneficiaries

GANDHINAGAR: Gujarat Chief Minister Bhupendra Patel has announced an important measure to benefit recipients of government-backed housing in rural areas of the state. The initiative introduces a uniform annual house tax of Rs 200 for beneficiaries under various government housing schemes, including the Central Government’s flagship program, Pradhan Mantri Awas Yojana (Rural). An annual tax rate of Rs 200 has been established for four years, starting with the current assessment cycle, applicable to houses built with government aid within all Gram Panchayats statewide, as per the official announcement. No Gram Panchayat will have the authority to impose a rate higher…

CommercialLatest Stories

India’s Office Space Demand Reaches 48.9M Sq Ft in H1 2025

NEW DELHI: The demand for commercial office space in India hit an all-time high in the first half of 2025, with gross leasing volumes reaching 48.9 million sq ft, reflecting a substantial 41% increase compared to the previous year, according to the latest report by Knight Frank. This remarkable growth was fueled by robust leasing activities in Bengaluru, NCR, and Pune, driven predominantly by Global Capability Centres (GCCs), which accounted for 39% of the total leasing activity. Other significant players included third-party IT services (22%), flexible space operators (21%), and businesses focused on the Indian market (18%). GCCs and IT…

Housing FinanceLatest Stories

Bajaj Housing Finance Q4 FY25 Profit Soars 54% to Rs 5.87B

Representative image Bajaj Housing Finance of India announced a significant profit increase in its fourth-quarter results on Wednesday, buoyed by strong credit growth fueled by heightened demand for premium homes and soaring property prices in the nation. The country’s largest home loan provider by market capitalization realized a 54% increase in profit, amounting to 5.87 billion rupees ($68.8 million) for the quarter ending March 31. The demand for homes in India, especially in the premium segment that constitutes a substantial portion of Bajaj Housing Finance’s portfolio, has consistently remained strong over recent quarters. Residential real estate prices are projected to…

Latest StoriesRegulatory

Probe Launched into TDR Scam on Deolali Reserved Land

NASHIK: On Thursday, Ram Shinde, chairman of the Maharashtra Legislative Council, ordered the civic and district administration to investigate a purported Transfer of Development Rights (TDR) scam concerning land acquisition for public amenities in Deolali, Nashik. He requested a report be submitted within 15 days. The directive followed a meeting with relevant officials after a complaint surfaced that the Nashik Municipal Corporation granted TDR certificates to a landowner at rates surpassing the government’s market value in return for land at Survey No. 295 in Deolali, which is earmarked for a garden, school, and an 18m DP Road. This meeting occurred…

IndustryLatest Stories

NCR Sees 7.2M Sq Ft Office Leasing in H1 2025

NEW DELHI: The National Capital Region (NCR) has outshined other Indian cities in both commercial and residential real estate during the first half of 2025, achieving a record 7.2 million sq ft of office space leased and a significant increase in ultra-luxury home sales, as reported by Knight Frank India. Office Market: Record Leasing Momentum in NCR NCR’s office leasing rose by 27% year-on-year, reaching an unprecedented high and signaling the region’s growing status as a commercial hub. Gurugram, recognized as NCR’s corporate focal point, represented a remarkable 65% of total office leasing, a notable increase of 900 basis points…

Latest StoriesResidential

Half of Homes Sold in H1 2025 Exceeded ₹1 Crore

NEW DELHI: The premium housing sector has taken the lead in India’s residential real estate market during the first half of 2025, with nearly 50% of homes sold exceeding ₹1 crore. A report by Knight Frank India indicates that 49% of the 1.7 lakh housing units sold across the top eight cities from January to June 2025 were in this premium category, despite a slight year-on-year dip of 2% in overall housing sales. This trend highlights a shift in buyer preferences due to limited supply of affordable housing and an increase in demand from mid-to-high-income buyers. The National Capital Region…

Housing FinanceLatest Stories

LIC Housing Finance trims lending rate by 25 bps

Sure! Here’s a rewritten version of the content: NEW DELHI: LIC Housing Finance has announced a reduction in its benchmark lending rate by 25 basis points, following the recent policy rate cut by the Reserve Bank of India. This adjustment to the LIC Housing Prime Lending Rate (LHPLR) aims to make home loans more accessible for both existing and new borrowers, as stated by the LIC subsidiary. The updated interest rates will begin at 8 percent and will take effect from April 28. The LHPLR acts as the standard rate for determining interest rates on all loan types. Published On…