Category: Latest Stories

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IndustryLatest Stories

Lucknow body to keep property sector rates unchanged

LUCKNOW: The Lucknow Development Authority (LDA) has announced that it will not be raising the sector rates for its properties. This decision means that the anticipated increase in district magistrate circle rates will not impact the prices of LDA properties valued according to reserved sector rates. In addition, prices for apartments built under various LDA schemes will remain stable, as these rates were already frozen for one year following a resolution by the LDA Board. According to a proposal approved by the LDA Board, the price of flats sold under the ‘first come, first served’ scheme will remain unchanged for…

IndustryLatest Stories

Tamil Nadu launches ‘Deemed NOC’ for planning permits

CHENNAI: Beginning July 1, the state government implemented a time-limited ‘deemed NOC’ system to simplify the process of obtaining No Objection Certificates (NOCs) for planning permissions. This initiative aims to cut down bureaucratic hurdles, enhance transparency, and expedite project approvals, particularly in the housing and infrastructure sectors. “This is the first instance of a state introducing such a system. While the Government Order was issued on October 24, the specific regulations for deemed NOCs are now available. This is a positive development for the housing and related industries, potentially saving three to six months in the NOC acquisition process,” stated…

Latest StoriesResidential

BPTP to Invest ₹3,000 Crore in Dwarka Expressway Project

NEW DELHI: BPTP has unveiled GAIA Residences, a new residential project located along the Dwarka Expressway, with an investment goal of ₹3,000 crore and projected revenue of ₹6,500 crore. This initiative is part of a larger ~150-acre development, representing the second phase of the Amstoria project. The 12.05-acre project will feature three high-rise towers consisting of 531 units of 3BHK residences. One of the towers will be opened for sales at a later date, pending the relocation of a high-tension electricity line. The average price for units in the project starts at ₹3.85 crore. Published On Jul 3, 2025 at…

IndustryLatest Stories

Crisil: Residential Real Estate to Grow 10-12% Annually by FY27

NEW DELHI: The residential real estate market in India is projected to maintain steady growth over the next two fiscal years, with a sales value increase of 10-12% annually. This growth is attributed to the rising demand for premium and luxury homes, as noted in a recent report by Crisil Ratings. Sales volumes are estimated to rise by 5-7%, with average prices expected to appreciate moderately by 4-6%. This reflects sustained end-user demand, enhanced affordability due to lower interest rates, and a smoother rollout of projects in key urban regions. This follows a post-pandemic growth period where the sector achieved…

Latest StoriesResidential

Aatish Kapadia and Wife Purchase ₹15.31 Crore Mumbai Apartment

NEW DELHI: Aatish Kapadia, recognized as an actor, director, and screenwriter, along with his wife Alison Kapadia, has acquired an apartment at Elysian by Oberoi Realty in Goregaon, Mumbai, for ₹15.31 crore. The apartment features a carpet area of 281.50 sq meters (3,030.07 sq ft) and includes three car parking spaces. According to the Inspector General of Registration (IGR) documents reviewed by Square Yards, the transaction incurred a stamp duty of ₹91.86 lakh and registration fees of ₹30,000. The deal was officially registered in June 2025. As per Square Yards Data Intelligence, Elysian has seen 116 sale registrations totaling ₹1,035…

CommercialLatest Stories

Top 7 Cities’ Office Leasing Up 40% in H1 2025: Anarock

NEW DELHI: The commercial real estate sector in India showed a strong recovery in the first half of 2025, with net office leasing in the seven largest cities rising by 40% year-on-year to around 26.8 million sq ft, according to Anarock Research. This compares to 19.08 million sq ft in the same period last year. Bengaluru was the standout performer, achieving 6.55 million sq ft of net absorption, a 64% increase from 4 million sq ft in H1 2024. Pune reported the highest year-on-year growth rate in leasing, soaring by 188% to 3.8 million sq ft, up from 1.32 million…

IndustryLatest Stories

Bengaluru Property Work Stalled by e-Khata Delays

BENGALURU: The implementation of e-Khata, a digital property document system designed for property sales, building approvals, and ownership regularization, is facing significant hurdles in Bengaluru. Launched citywide in 2024 and accessible via Bruhat Bengaluru Mahanagara Palike (BBMP) offices, Bengaluru One centres, and public drives, this system aimed to streamline property documentation and safeguard against fraud. However, residents are experiencing severe delays attributed to server outages, document mismatches, and insufficient options for correcting errors in draft e-Khatas. While approximately 25 lakh properties are listed with draft e-Khatas online, only 5.34 lakh have received official approval to date. Without a reliable process…

IndustryLatest Stories

UP Cabinet to Announce Revised Bylaws for Vertical Development

LUCKNOW: The state government is set to announce revised building bylaws designed to facilitate swift urbanization and bolster economic activities, promoting vertical development. Sources indicate that the housing department has submitted its final proposal to the government, which is anticipated to be discussed in the upcoming cabinet meeting. The updated rules will enable property owners to optimize use of available land space. Officials report that over 1,000 objections and suggestions were reviewed, with some affecting the final draft. The state has amended the building construction and development bylaws since their establishment in 2008, aiming to align with stakeholder expectations. As…

CommercialLatest Stories

GCCs Hold 42% of India’s Office Leasing in FY25: Report

AI-generated image (representative) NEW DELHI: Global Capability Centres (GCCs) have solidified their role in India’s office leasing landscape for FY25, contributing to 42% of total office space absorption nationwide, a slight increase from 41% the previous year, as reported by Vestian, a real estate consultancy firm. During the fiscal year, GCCs leased 31.8 million sq ft of office space, marking a substantial 24% growth year-on-year. Despite a 4% drop in the number of GCC transactions to 305 deals, the average leased area per transaction has increased, indicating a shift towards larger office spaces and long-term expansion plans. The report notes…

Housing FinanceLatest Stories

LIC Housing Finance names Lokesh Mundhra as CFO

Representative image NEW DELHI: LIC Housing Finance has appointed Lokesh Mundhra as the new Chief Financial Officer (CFO) effective Thursday. According to a regulatory filing, Sudipto Sil, who previously served as CFO, will now be the Marketing Head of the Western Region in Mumbai beginning April 17, 2025. “The Board of Directors has approved the appointment of Lokesh Mundhra as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company effective April 17, 2025,” LIC Housing Finance stated. Mundhra, a Chartered Accountant, brings 32 years of experience from various roles at LIC of India, covering departments such…