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 Plans Aero City for Modern, Affordable Housing

Representative AI image PRAYAGRAJ: The Prayagraj Development Authority (PDA) is gearing up to initiate a significant residential project—Aero City—located near Airport Road (Jhalwa) as part of the chief minister’s expansion plan. This initiative will offer plots and flats in a single location, aimed at delivering modern, organized housing solutions within an integrated township. Spanning over 90 acres, Aero City is set to commence in the next financial year when the PDA will begin acquiring land. The plots are expected to be priced under Rs 20 lakh, making them affordable for a diverse range of homebuyers. The authority plans to purchase…

Latest StoriesResidential

Lucknow Extends Atal Nagar Housing Deadline to December 2

LUCKNOW: The Lucknow Development Authority (LDA) has extended the registration deadline for the Atal Nagar housing scheme in Devpur Para, granting applicants additional time to submit their forms. LDA vice-chairman Prathamesh Kumar announced that the new deadline is December 2, for the convenience of the public. The housing scheme features 2,496 flats distributed across 15 towers, each between 12 and 19 stories high. Out of these, 1,832 are 1BHK units and 664 are 2BHK units. The flat sizes vary from 30 to 54.95 sqm, with prices starting at Rs 9.82 lakh. Essential amenities, including lifts, water and electricity supply, power…

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Lucknow e-auction nets ₹425 crore in property sales

LUCKNOW: The Lucknow Development Authority (LDA) recorded property sales exceeding Rs 425 crore in its recent e-auction, with bids reaching up to three times the reserve price in various instances. For instance, a 75 sq m residential plot in Sector 5, originally valued at Rs 28 lakh, sold for an impressive Rs 1.5 crore. According to LDA vice chairperson Prathamesh Kumar, a land audit and drone survey exposed properties under illegal occupation, leading to their clearance and subsequent public bidding. In Gomtinagar Extension’s Sectors 5 and 6, 95 residential and seven commercial plots attracted bids, with 88 of them selling…

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Karkardooma Tower Project Sees 1,500 Bids, Exceeds Flat Supply

NEW DELHI: The Delhi Development Authority (DDA) announced the successful reception of bids for its upcoming high-rise project, ‘DDA Towering Heights’, located in Karkardooma. Officials reported this on Wednesday. This initiative marks the first housing project created under Delhi’s Transit Oriented Development (TOD) policy. “Approximately 1,500 bids have been received for the 1,026 two-bedroom flats available. The central location and excellent connectivity options have significantly driven demand,” officials noted. Situated next to the Karkardooma metro station, this project offers direct access to both the Blue and Pink lines of the Delhi metro, alongside easy connections to National Highway (NH)-9, NH-24,…

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Maharashtra Updates: Incentives for Rental Housing in MMR

Representative AI image MUMBAI: Developers are being incentivized to develop rental housing in the Mumbai Metropolitan Region (MMR). This includes a full income tax waiver on rental income for 10 years, a 5-year property tax exemption, and GST concessions. Additionally, the Maharashtra Housing Area Development Authority (Mhada) has proposed a free increase in floor space index—0.5 in Mumbai and 0.3 in MMR. On Wednesday, Mhada’s vice-president, Sanjeev Jaiswal, presented the draft rental housing policy to builders, seeking their feedback for refinement. Mhada is designated as the nodal agency for this policy and has suggested a 50% reduction in development charges,…

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Residents question uneven enforcement of Delhi’s Building Bylaws

Representative AI image NEW DELHI: Local residents are voicing concerns regarding the selective enforcement of the Unified Building Bylaws (UBBL), claiming it results in “absurd sanctions” for structures sanctioned by the Municipal Corporation of Delhi (MCD). They argue that inconsistencies in the guidelines and their interpretation are distorting zonal planning, compromising privacy, increasing fire risks between adjacent properties, and exacerbating noise issues. For example, properties larger than 500 square meters are mandated to have a six-meter setback at the front and three meters on the remaining sides. However, applicants can obtain approval for smaller plots (250-500 square meters) to utilize…

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Vadodara Civic Body Seeks Housing Societies’ Help for Cleanliness

VADODARA: Senior officials from the Vadodara Municipal Corporation (VMC) engaged with representatives from 100 housing societies on Tuesday, requesting their support to enhance the city’s cleanliness efforts. The VMC is intensifying its sanitation initiatives, with senior officials conducting reviews across various areas. They’ve directed staff to closely monitor sanitation practices and prevent littering. VMC commissioner, Arun Mahesh Babu, informed the media that the representatives from the societies were urged to maintain cleanliness around their premises. “Failure to uphold cleanliness could result in action against a society,” he noted, adding that societies are encouraged to compete in cleanliness standards. In the…

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AP CM: All PMAY Beneficiaries Should Receive BEE-Rated Appliances

VISAKHAPATNAM: Chief Minister N Chandrababu Naidu has instructed state officials to guarantee that all beneficiaries of PMAY receive BEE star-rated, energy-efficient appliances, thus promoting universal access to affordable and clean energy. In cooperation with Energy Efficiency Services Limited (EESL), the Andhra Pradesh housing department is set to distribute four LED bulbs, six LED tube lights, and two BLDC fans to approximately six lakh households by 2026, supported by additional state funding. The initiative aims to engage households in climate action and is projected to save 10.24 million kWh and significant financial resources annually, marking it as India’s largest energy efficiency…

Latest StoriesResidential

IBBI Considers Resolution Benefits for Homebuyers

NEW DELHI: The insolvency regulator has proposed easing regulations to ensure that all homebuyers affected by bankrupt real estate developers can benefit from resolution gains, including those who have not submitted claims. This initiative could potentially aid thousands of allottees nationwide. In a discussion paper, the Insolvency and Bankruptcy Board of India (IBBI) has recommended enhanced disclosures regarding stressed firms’ assets, stricter safeguards for committees of creditors lacking financial institution representation, and proper documentation for liquidation orders. “The Information Memorandum related to the stressed firm should include all allottees’ details—names, amounts owed, and allotted units—as per the corporate debtor’s records,…

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Stonecraft to invest ₹300 crore in Telangana township project

Representative AI image NEW DELHI: Stonecraft Group, a real estate firm, has announced an investment of Rs 300 crore for a 110-acre township project in Telangana. The company revealed plans to establish the integrated township at Yadagiri Gutta, which is expected to generate revenues up to Rs 1,100 crore. Of the 110 acres, 90 acres will feature residential plots, estimated to yield around Rs 500 crore. The remaining 20 acres will be dedicated to a Senior Living project comprising 333 independent homes, projected to earn Rs 600 crore. The overall investment for this development is set at Rs 300 crore.…