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

Prayagraj body to revise unsold flat rates and simplify rules

PRAYAGRAJ: The Prayagraj Development Authority (PDA) has announced plans to adjust the prices of its unsold residential units to rekindle interest among potential homebuyers. This decision was made during the PDA’s board meeting on Wednesday. Chairing the session, divisional commissioner Saumya Agarwal instructed officials to review house pricing in line with government-issued costing guidelines and current market conditions. Previously, PDA had frozen the property prices, a move that did not attract buyers. The board has also endorsed proposals to amend discrepancies in the city’s Master Plan 2031. Currently, regulations in upscale neighborhoods like Civil Lines, Georgetown, and Tagore Town restrict…

Latest StoriesResidential

Rustomjee Group to invest ₹5,800 crore in Mumbai housing project

Representative AI image NEW DELHI: Rustomjee Group is set to invest approximately ₹5,800 crore in the development of a residential project named Rustomjee Vista Bay in Parel Extension, Mumbai. The project spans 1.52 acres and is designed as a low-density, gated community featuring around 200 residences in a single tower with two wings. It will offer 2BHK and 3BHK homes with sizes ranging from 805 sq ft to 1,356 sq ft. Boman Irani, chairman and managing director of the company, stated, “Vista Bay signifies our entry into Parel Extension at a time when the area is experiencing renewed interest in…

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2,700+ EWS families find homes in Gurugram housing project

GURUGRAM: On Monday, a total of 2,709 EWS families received flats under the Chief Minister Housing Scheme, marking the realization of their long-held dream of homeownership. Each beneficiary will receive a 200 sq ft flat for a maximum cost of ₹1.5 lakh. The flats are part of group housing projects approved by the Department of Town and Country Planning (DTCP) and developed by private firms including Emaar, M3M, DLF, Vatika, Ireo, Sobha, and Godrej. The Haryana Urban Development Authority conducted the allotment at the Gurgaon University campus via an online lucky draw. The event was supervised by district nodal officer…

Latest StoriesResidential

Telangana to Launch Phase Two of Indiramma Housing in April

HYDERABAD: Housing Minister Ponguleti Srinivas Reddy announced in the council on Wednesday that the second phase of the Indiramma housing initiative is set to launch in April and May across the state. In response to questions, the minister stated that the Indiramma housing program will continue annually to ensure housing for the underprivileged. The objective is to construct Indiramma houses in every urban ward within the next three years. Approximately 100,000 houses are expected to be completed by March, and most of the 300,000 houses sanctioned in the first phase will be ready by June or July. Special efforts are…

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Andhra Pradesh Offers 50% Waiver on Property Tax Dues

VIJAYAWADA: The state government announced on Tuesday a one-time 50% waiver on interest for accumulated property tax arrears for the financial year 2025-26 across all municipalities and municipal corporations. This waiver is accessible to taxpayers who pay 100% of the principal property tax dues, as well as the remaining 50% interest, in a single lump-sum payment by March 31. The government specified that this offer is time-limited and will not be extended. Additionally, any interest that has already been paid will not be refunded and can only be adjusted against future tax demands as per existing provisions. Property tax is…

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Legal Challenges for Jaypee Sports City Buyers Amid Adani Takeover

NOIDA: The National Company Law Tribunal (NCLT) has approved Adani Enterprises’ ₹14,535 crore resolution plan for Jaiprakash Associates Ltd (JAL) in accordance with the Insolvency and Bankruptcy Code, 2016. The future of the stalled Jaypee Sports City project, along with the thousands of homebuyers affected, is now contingent upon the outcome of a simultaneous legal dispute before the Supreme Court. The Supreme Court is scheduled to hear a petition from the developer challenging a March 2025 ruling by the Allahabad High Court, which affirmed the decision made by the Yamuna Expressway Industrial Development Authority (YEIDA) to annul JAL’s allotment of…

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Sambhajinagar Residents Seek Property Tax Waiver Like Mumbai’s

CHHATRAPATI SAMBHAJINAGAR: Local citizen groups are advocating for property tax relief akin to that enjoyed by residents of Mumbai, where exemptions apply for properties up to 700 square feet. Rajendra Datey Patil from the ‘People’s Forum for Social Cause’ has formally requested a property tax waiver for homes up to 1,000 square feet in Chhatrapati Sambhajinagar through a memorandum submitted to the state government. “Although this proposed waiver could affect the municipal corporation’s finances, alternative funding sources can be explored to address the shortfall. We anticipate that the municipal corporation will pass a resolution in favor of this waiver and…

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Noida: Mahagun Mywoods Runs 11 Hours on Genset After Power Cut

Representative image NOIDA: Power to Mahagun Mywoods in Greater Noida West was cut on Monday morning due to the developer’s failure to pay electricity dues amounting to approximately Rs 72 lakh, leaving thousands of residents reliant on diesel generators. The power connection was restored around 8 PM after the outstanding amount was settled. Noida Power Company Limited (NPCL) officials reported that the disconnection happened at 9 AM after multiple notices to the society management went unanswered. The residential complex comprises 31 towers with around 6,100 flats. Of these, 4,800 units in 27 towers are occupied, housing over 15,000 residents. The…

Latest StoriesResidential

DRA Homes Buys 3.91 Acres in Chennai for ₹49.7 Crore

Certainly! Here’s a rewritten version of the provided content: NEW DELHI: DRA Homes has purchased 3.91 acres of land in Karanai, located off the Old Mahabalipuram Road (OMR) in Chennai, for ₹49.70 crore. The company intends to establish a mid-segment residential community on this site, with an anticipated inventory value of approximately ₹500 crore. Ranjeeth Rathod, the managing director, commented, “The acquisition in Karanai is in line with our strategy and will reinforce our development pipeline in Chennai.” Earlier in January 2026, the company secured a ₹250 crore debt platform from Yubi to enhance its land acquisition capabilities in high-growth…

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Ludhiana Trust Lacks New Affordable Housing Plans for 20 Years

LUDHIANA: The Ludhiana Improvement Trust (LIT) is experiencing a significant slowdown in urban development, having not introduced an affordable housing scheme for residents in nearly two decades. Once the leading force behind Ludhiana’s residential projects, the trust has now shifted its attention to small-scale developments under municipal jurisdiction. With the Atal Apartment project, delayed for years, expected to wrap up by December 2026, officials caution that LIT may soon be left with no active projects. This lack of government-supported options is pushing residents toward expensive private developers or illegal colonies. Two Decades of Inaction The glory days of LIT’s planning…