Category: Latest Stories

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Latest StoriesResidential

Sales growth in residential sector to dip to 5-7% in FY27

NEW DELHI: The residential real estate market in India is set to experience a slowdown in growth in FY27, following a strong rebound post-pandemic. Sales are projected to increase by 5-7% year-on-year, predominantly driven by value growth in the premium and mid-market segments, as per a whitepaper released by India Ratings & Research (Ind-Ra) in collaboration with ETRealty at ETRECA 2026 on February 25 in Mumbai. After a significant expansion during FY23-FY25 and a steadier FY26, the sector is entering a consolidation phase, with high price levels and a strong base effect anticipated to dampen growth rates. Ind-Ra predicts total…

IndustryLatest Stories

Hyderabad’s Property Tax Arrears Exceed ₹3,000 Crore

HYDERABAD: Property tax arrears in the three municipal corporations of Greater Hyderabad have surpassed an alarming ₹3,000 crore, exceeding both the current fiscal’s collections and its target. By the time the ongoing one-time settlement (OTS) scheme—offering a 90% waiver on accumulated interest on arrears—expires on March 31, the total arrears may likely escalate to over ₹5,000 crore. Before the trifurcation of the Greater Hyderabad Municipal Corporation (GHMC), the property tax collection target for this financial year was set at ₹3,000 crore. Thus far, the GHMC, Cyberabad Municipal Corporation (CMC), and Malkajgiri Municipal Corporation (MMC) have collectively managed to gather only…

CommercialLatest Stories

Lucknow: IT City Plot Allotment Lottery on Feb 28

LUCKNOW: The Lucknow Development Authority is set to launch the IT City housing scheme on Sultanpur Road on February 28, starting with the allotment of developed plots to landowners under the land pooling policy. A total of 870 residential plots will be allocated to 336 farmers who contributed land to the project, with allotments conducted via a lottery system. The draw will take place in the presence of the landowners at the Indira Gandhi Prathishthan. The initial phase will offer plots ranging from 35 sq m to 288 sq m. After allotment to land pooling beneficiaries, the remaining plots will…

IndustryLatest Stories

Plots for Sale in Faridabad’s Protected Aravalis at ₹14,000/sq yd

Representative AI image FARIDABAD: Despite Supreme Court directives in 2022 mandating the demolition of all illegal structures in the protected Aravalis, the hills continue to face encroachment. On Tuesday, TOI discovered construction activities occupying 35 acres in Anangpur, with plots being sold for Rs 12,000-14,000 per square yard on land protected under sections 4 and 5 of the PLPA. This area lies within a 200-meter no-construction buffer zone surrounding the Anangpur dam–Suraj Jheel complex, which is safeguarded by the Archaeological Survey of India (ASI). Certain sections of the land are designated as ‘gair mumkin pahar’ (uncultivable hill). Local villagers have…

InfrastructureLatest Stories

Pune Civic Body Expands Pollution Monitoring to More Constructions

Representative AI image PUNE: The Pune Municipal Corporation (PMC) is set to mandate pollution monitoring systems for smaller construction projects, expanding the current regulations. At present, only construction projects exceeding 5,000 square meters are required to implement these systems. however, Mayor Manjusha Nagpure announced on Wednesday, “We aim to lower the minimum plot size for these installations soon. The civic body will also require government and civic projects to monitor their pollution outputs.” Additionally, ready-mix concrete (RMC) plants will also fall under this monitoring requirement. When questioned about actions taken against polluting RMC plants within civic limits, especially those in…

Latest StoriesResidential

Suryakumar Yadav’s Wife Buys Mumbai Apartment for ₹7.18 Crore

File Photo NEW DELHI: Devisha Yadav, wife of cricketer Suryakumar Yadav, has acquired an apartment in Godrej Sky Terraces, Chembur, Mumbai, for ₹7.18 crore. The apartment spans a carpet area of 1,402 sq ft (130.25 sq meters) with a total area of 1,516.20 sq ft (140.86 sq meters), as per property registration documents accessed by Square Yards on the Inspector General of Registration (IGR) website. The transaction was officially registered in February 2026. The residence also includes two dedicated car parking spaces. A stamp duty of ₹35.90 lakh and registration fees of ₹30,000 were paid during the transaction. In March…

Latest StoriesResidential

Lucknow RWA Protests Emaar India’s Clubhouse Sale

LUCKNOW: Residents of Emaar Gomti Green protested against what they claim to be the unlawful sale of their clubhouse by Emaar India. The residents argue that the clubhouse, initially built for their convenience and community activities, was sold to an external party without consent. Now operating as a commercial venue, the clubhouse has raised significant security concerns. Additionally, late-night events are reported to disturb children’s education and the overall tranquility of the community. Holding banners and placards, residents staged a symbolic protest at the clubhouse and outside Emaar India’s offices. They further expressed their frustrations about ongoing issues with electricity,…

IndustryLatest Stories

Bagmane REIT Aims for $3.9B Valuation in India IPO

Blackstone-backed Bagmane Prime Office REIT is gearing up for an initial public offering (IPO) as early as next month, aiming for a valuation of approximately $3.9 billion, sources indicate. The Bengaluru-based real estate firm has received regulatory approval and commenced investor roadshows. Sources requested anonymity due to the confidential nature of the information. The proposed IPO seeks to raise 40 billion rupees ($440 million), which includes up to 30 billion rupees in new units and a secondary sale of 10 billion rupees by Blackstone, as detailed in the IPO prospectus that was filed in December. Discussions are ongoing, and details…

Latest StoriesRegulatory

ED Seizes ₹598 Crore in Assets from Ansal Properties Case

Sure! Here’s a rewritten version of the content: NEW DELHI: The Enforcement Directorate (ED) announced on Wednesday the attachment of land valued at Rs 598 crore in Agra, Uttar Pradesh, part of an investigation into money laundering involving Ansal Properties and Infrastructure Ltd. (APIL). The inquiry is focused on significant irregularities related to the acquisition and release of land in Gurugram’s sectors 58-63 and 65-67. The ED stated that it has issued a provisional order under the Prevention of Money Laundering Act (PMLA) to seize land in Agra amounting to over Rs 598 crore. The properties are registered under various…

Latest StoriesRera

Haryana RERA Directs Elan Buildcon to Pay Returns, Execute Deed

NEW DELHI: The Haryana Real Estate Regulatory Authority (H-RERA) in Gurugram has ordered Elan Buildcon to pay outstanding fixed returns to allottees of a commercial unit in its ‘Elan Miracle’ project located in Sector 84, Gurugram. Additionally, the company is required to execute the conveyance deed within three months while allowing limited recovery for increased super area and maintenance charges. The directive was issued on February 13, 2026. The complaint was lodged by two allottees of the ‘Elan Miracle’ project, which was initially allotted at 625 sq ft with a builder-buyer agreement executed on October 3, 2019. The total sale…