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

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.…

Latest StoriesResidential

CCI Projects to Invest ₹700 Cr in Mumbai Residential Tower

Representative image. NEW DELHI: Realty company CCI Projects has announced a planned investment of approximately ₹700 crore to build a luxury residential tower in the Mumbai Metropolitan Region (MMR). The firm revealed on Monday that they have launched ‘Skyleap’, which will feature 53 stories and consist of 320 apartments. This tower is part of a larger gated community, ‘Rivali Park 2’, situated along the Western Express Highway in Borivali. The project is backed by a ₹700 crore investment, with anticipated revenue exceeding ₹1,250 crore. Founded in 2000, Mumbai-based CCI Projects Pvt Ltd has successfully completed over eight towers and currently…

Latest StoriesResidential

Mumbai: JVPD Bungalows Yield to Buildings as Families Expand

MUMBAI: In the early 1970s, Bollywood icons like Amitabh Bachchan, Dharmendra, Shatrughan Sinha, Rakesh Roshan, and Jeetendra found refuge in the serene Juhu-Vile Parle Development Scheme (JVPD) for its privacy and abundant green spaces. Spanning 200 acres, JVPD consists of 42 acres designated for internal roads, featuring 702 plots and 14 cooperative societies. Originally planned in the 1950s as a middle-class neighborhood with modest two- to three-story buildings, the area is now experiencing a redevelopment boom, with property prices soaring to Rs 70,000 to Rs 80,000 per square foot in luxury towers. Anand Pandit, a renowned builder and Bollywood producer,…

Latest StoriesResidential

Mumbai BMC housing lottery attracts 2,037 for 426 homes

MUMBAI: The BMC’s online lottery for 426 homes across the city received only 2,037 applications, indicating a tepid response. The highest interest was seen for the 14 homes in Marol, which garnered 937 applications. This was followed by 393 applications for 46 homes in Kandivali and 189 for 19 homes in Goregaon. The flats, ranging from Rs 55 lakh to Rs 1 crore, are situated in Kandivali, Bhandup, Byculla, Kanjurmarg, Jogeshwari, and Goregaon, targeted at applicants from the Economically Weaker Section (EWS) and Low-Income Group (LIG) categories, with an expected revenue of around Rs 308 crore from sales. In comparison,…

Latest StoriesResidential

Pune: 1.3 Lakh Property Owners Excluded from Tax Amnesty

PUNE: The Pune Municipal Corporation (PMC) has announced a ban on 1.38 lakh property owners who are repeat defaulters from participating in the property tax amnesty scheme. This decision follows concerns raised by citizens’ groups regarding some property owners who continuously default on their taxes while exploiting the amnesty benefits. The current scheme grants a 75% discount on penalties for unpaid property taxes. “Actions are underway to ensure that only legitimate beneficiaries obtain benefits from the schemes. Property owners who have previously availed of the scheme will not be eligible for it again,” stated Ravi Pawar, head of PMC’s property…

Latest StoriesResidential

Mysuru to Boost Ward-Wise E-Khata Issuance Drive

MYSURU: The Mysuru City Corporation (MCC) is set to enhance its e-khata property document initiative on a ward-wise basis to ensure all 2,27,883 properties in the city are covered. Currently, e-khatas have been issued to 61,117 property owners. To achieve full coverage, the civic body will launch awareness campaigns across all wards. After the chief minister kick-started the statewide initiative, Mysuru City Corporation achieved a milestone in e-khata distribution among civic bodies, with Mysuru district leading in overall issuance. Out of the total 2,27,883 properties, the MCC has successfully distributed 61,117 e-khatas after processing applications and collecting necessary taxes. This…

Latest StoriesResidential

Lucknow Offers 10% Tax Exemption for Rooftop Solar Homes

Representative AI image LUCKNOW: Households equipped with solar rooftops now qualify for a 10% exemption on residential house and water taxes. This initiative is part of key proposals concerning city development, sanitation, and public order, which were adopted in the LMC executive committee meeting held on Thursday. The session, chaired by Mayor Sushma Kharkwal, included municipal commissioner Gaurav Kumar, executive vice-president Charanjeet Gandhi, and other senior officials. To promote renewable energy under the PM Surya Awas Yojana, the committee approved a 10% tax exemption for property owners who install solar panels. Officials indicated that this measure aims to motivate residents…

Latest StoriesResidential

Noida Authority Notifies ATS Homes Over Sports City Delay

NOIDA: The Noida Authority has notified ATS Homes, the primary developer for the Sports City project in Sector 152, regarding violations of lease agreements, construction delays, and a failure to provide essential sports infrastructure nearly ten years after the land was allocated. Officials report that ATS Homes and its consortium partners owe the authority ₹2,746 crore in outstanding dues and have consistently ignored reminders regarding their responsibilities. The 5 lakh sqm land parcel, of which ATS occupies 4 lakh sqm, was granted in July 2015 with a mandate to complete all sports facilities within five years and obtain occupancy certificates…

Latest StoriesResidential

Guntur’s 120-Day Online Window to Legalize Illegal Buildings

GUNTUR: The state government has introduced guidelines for the regularisation of buildings constructed without permission or that deviate from approved plans through the Building Penalisation Scheme (BPS). Municipal Commissioner Puli Srinivasulu explained that this initiative aims to help property owners legalise their constructions. Applications for regularisation under the BPS must be submitted online within 120 days from the date of the order, he clarified. The Commissioner noted that certain relaxations have been implemented to encourage public participation. Buildings constructed before December 1, 1997, will receive a 25% concession on penal charges, and residential buildings up to G+1 on 60 square…

Latest StoriesResidential

BDA Resolves 20-Year Arkavathy Dispute, Allots 784 Sites

Representative AI image BENGALURU: In a long-awaited resolution to one of its most contentious issues, the BDA on Monday allocated 784 alternative plots in the Nadaprabhu Kempegowda Layout (NPKL) to allottees from the Arkavathy Layout who lost their sites due to land denotification and reallocation. The allotment, which utilized a computerized randomization process at the BDA headquarters, took mere minutes to complete, marking the end of a two-decade struggle for many beneficiaries. Officials stated that this initiative aimed to provide long-delayed relief to allottees awaiting resolution since 2005-06. “We have allocated 784 sites at once to resolve a longstanding issue…