Category: Residential

Explore updates and trends in residential real estate including new housing projects, pricing, buyer preferences, and urban expansion. Learn about the factors shaping residential property markets in major cities and suburbs.

Latest StoriesResidential

Odisha Flat Owners Face ₹50,000 Stamp Fee for Common Areas

BHUBANESWAR: In an effort to simplify apartment registrations, the state government announced amendments to the Indian Stamp Act, 1899, via an ordinance on Thursday. This initiative aims to alleviate the financial pressures on apartment owners’ associations and eliminate procedural obstacles. The announcement, published in the Odisha Gazette, follows the state cabinet’s green light earlier this January. The amendments are expected to streamline the registration process under the Odisha Apartment (Ownership and Management) Act, 2023, while protecting government revenue. With this ordinance, the framework for implementing the amended stamp duty is now in place. Under the 2023 Act, developers are obliged…

Latest StoriesResidential

Ghaziabad: Charred Green Avenue Flat Owners Demand FIR Against RWA

File Photo GHAZIABAD: Almost two weeks after the fire at Gaur Green Avenue on April 29, residents of the affected flats are considering legal action against the residents’ welfare association (RWA). They allege that unauthorized constructions obstructed emergency access and that fire safety systems were not adequately maintained. Rajnish Kumar, an architect whose 11th-floor flat was destroyed, has contacted the chief minister’s office, district magistrate, and police commissioner, requesting an FIR against the RWA officials. He claims that illegal construction around the swimming pool area impeded fire tender access, letting the fire spread to upper floors. “The fire started in…

Latest StoriesResidential

Lucknow to Start E-Auction for 149 Residential Plots

Representative Image LUCKNOW: The Lucknow Development Authority will initiate an e-auction for 149 residential plots in Gomti Nagar Extension and Basant Kunj Yojana starting Thursday, as part of a larger sale of 475 properties valued at nearly Rs 3,000 crore throughout the city. According to officials, the online auction portal will remain open until May 28, allowing interested buyers to participate by depositing 10% of the reserved price as earnest money. The residential plots range from 25 square metres to 300 square metres. Among the residential plots, LDA has made available 12 plots on land recently cleared of encroachments in…

Latest StoriesResidential

65,000 Chandigarh Housing Board Homes Up for Review

CHANDIGARH: The UT administration has established a committee to assess the “need-based changes” made to Chandigarh Housing Board (CHB) homes, impacting over 65,000 units throughout the city. Under the leadership of the CHB CEO, and following directives from the board chairman, the committee is expected to present its findings within two weeks. Officials noted that numerous allottees have undertaken additional constructions, referring to them as “need-based changes,” while the administration views many of these as building violations. Despite the recent introduction of the 2023 need-based changes policy, residents maintain that their concerns remain unaddressed. Tensions escalated after the CHB demolished…

Latest StoriesResidential

Only 130 of 3,600 PMAY Applicants in Sambhajinagar Pay 10%

CHHATRAPATI SAMBHAJINAGAR: Progress under the Pradhan Mantri Awas Yojana (PMAY) has been slow in the city. Out of 3,638 applicants, only 130 have deposited the required 10% margin money, leading the municipal corporation to enhance efforts to encourage participation. The Chhatrapati Sambhajinagar Municipal Corporation (CSMC) is working to connect beneficiaries, banks, and developers to expedite the scheme’s implementation. Municipal commissioner Amol Yedage reviewed the situation and announced new outreach initiatives. “Banks are providing information and assistance to citizens regarding the documentation and loan processes, ensuring easier access to funds for the scheme. We are also conducting outreach camps to promote…

Latest StoriesResidential

Key Tenancy Reforms Launched in Chandigarh

CHANDIGARH: After over six years of discussions between the Centre and the UT administration, significant tenancy reforms are now in effect in Chandigarh following the adoption of the Assam Tenancy Act, 2021. This reform is anticipated to greatly impact the city, where nearly 50% of the residents live in rented properties. Realty analysts predict that many residential and commercial spaces will enter the formal rental market, potentially alleviating rental pressures and positively affecting rental values through increased supply. The new legislation replaces the outdated East Punjab Urban Rent Restriction Act, 1949, which has long been deemed inadequate for contemporary socio-economic…

Latest StoriesResidential

Lucknow to Launch 900 LIG, EWS Flats on Sitapur Road

Representative image LUCKNOW: The Lucknow Development Authority (LDA) is set to introduce an affordable housing initiative on Sitapur Road, offering approximately 900 flats targeted at Low Income Group (LIG) and Economically Weaker Section (EWS) families. This development will occupy 16,000 square metres of land that has recently been cleared of encroachments near Shia PG College. The project will feature 582 LIG flats and 336 EWS flats housed in multistoried apartment towers. The 2BHK LIG units are expected to cost around Rs 35 lakh each, while the 1BHK EWS units will be approximately Rs 15 lakh. All towers are planned to…

Latest StoriesResidential

1,000+ Homes Ignore Stilt Parking Rules in Gurugram, DLF Leads

GURUGRAM: A significant crackdown on the misuse of parking areas in upscale residential districts has revealed extensive violations in stilt-plus-four-floor (S+4) buildings. The Department of Town and Country Planning (Enforcement) has identified violations in 1,137 residences across 19 licensed colonies in the city. Data acquired by TOI indicates that 968 property owners have received show-cause notices, and 18 buildings have been sealed for breaching sanctioned building plans. The Punjab and Haryana High Court will review the matter on May 12, when the department is expected to provide a comprehensive compliance report. DLF-2 recorded the highest number of violations, with 453…

Latest StoriesResidential

Noida: Great Value Sharanam Residents Raise Safety Concerns

NOIDA: Residents of Great Value Sharanam in Sector 107 have voiced serious concerns regarding the declining conditions of their housing structure, along with inadequate infrastructure and a lack of builder responsiveness to homeowner grievances. Members of the Apartment Owners’ Association (AOA) report that the waste management system in the society is poorly managed, with deficiencies in firefighting systems and inadequate elevators. With around 6,000 residents, many have stated that these issues have persisted since they began occupying the flats in 2017-18. Bishwarup Mallick, general secretary of the AOA, highlighted extensive water seepage in apartments and communal areas, noting that despite…

Latest StoriesResidential

Millenia WB Yield Fund Invests ₹41 Crore in Hyderabad Villas

WhiteBoard Advisory & Management (WB) and Casagrand have received SEBI approval to raise ₹500 crore for their jointly established Millenia WB Yield Fund, aimed at providing growth capital for residential projects. The fund has already committed ₹41 crore for a villa project in Hyderabad targeting ₹400 crore in revenue. Capital raised will focus primarily on developing projects in Chennai, Bangalore, Hyderabad, and select other locations. The fund offers yield-based returns to investors, leveraging WB’s investment expertise and Casagrand’s proven execution and sales track record. Founded in 2022 by Anchit Lakhotiya and Sanjay Ratra out of Mumbai, Whiteboard Advisors acted as…