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

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…

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Hiranandani Expands into Senior Living with 1M Sq Ft in Chennai

Representative Image NEW DELHI: Hiranandani Communities, part of the Niranjan Hiranandani Group, has partnered with GTB Group to venture into the senior living sector. The Elements project, covering 4.5 acres, has a development potential of one million sq ft and will be situated in Hiranandani Parks, Oragadam—a planned township in Chennai. The estimated total project value is ₹300 crore and will be executed in two phases. It is set to include 400 residences, with prices starting from ₹60 lakh. Niranjan Hiranandani, founder and chairman, commented, “The Hiranandani Parks, Oragadam township aims for an ambitious topline revenue of ₹4,000 crore, as…

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Maharashtra CM to distribute 423 flats to police families

MUMBAI: Following the key handover at Worli BDD chawl flats, CM Devendra Fadnavis will distribute keys to 864 flats at the Naigaum BDD chawls in Dadar. This ceremony will take place at Shanmukhananda Hall on Wednesday, where five wings consisting of 22 storeys each have been completed. Out of the 864 flats, 423 will be allocated to police families who have lived here as tenants for generations. In total, there are 2,250 tenements owned by the Mumbai police commissioner, soon to be granted as ownership to the police families who have long resided there. Each police family will need to…

Latest StoriesResidential

Maharashtra: Just 25% of Slum Rehab Goal Achieved in 3 Years

Representative AI image MUMBAI: With less than two months remaining, the state government has achieved only 25% of its goal to construct 1.5 lakh slum rehabilitation tenements for the period 2022-2025. As of September, 37,560 tenements have been completed and occupied, according to officials from the Slum Rehabilitation Authority (SRA). The sluggish construction pace jeopardizes the aim of building over 5 lakh houses by 2030. In 2022, the government identified 517 stalled slum rehabilitation projects. Of these, 45 projects received backing from financial institutions, and new builders were appointed for 21 of them. Decisions for the remaining projects are still…

Latest StoriesResidential

Pioneer Urban Land Acquires 9,419 sq ft Flat in DLF Camellias for ₹95 Cr

NEW DELHI: Realty company Pioneer Urban Land and Infrastructure Ltd has acquired a 9,419 sq ft apartment in DLF’s luxury project ‘The Camellias’ in Gurugram for ₹95 crore, according to CRE Matrix. The real estate data analytics firm reviewed the registration document for this transaction, which was registered on September 29. Additionally, CRE Matrix has noted that three more residential properties were registered in September, collectively valued at about ₹176 crore. Sources suggest that the current value of these properties could be significantly higher. A penthouse was sold in 2015 for ₹59 crore, and another was booked in August 2021.…

Latest StoriesResidential

PDA Launches Online Registration for Plot and Flat Auctions

Representative image PRAYAGRAJ: The Prayagraj Development Authority (PDA) has announced the sale of 206 residential plots in six housing schemes, starting this week through online registration and auction. According to PDA Secretary Ajit Singh, 40 newly created plots have been added to the list. The plots range in size from 60 to 150 square meters to accommodate middle-class homebuyers, with the Dev Prayagraj Jhalwa scheme featuring the highest number—107 plots available for sale. Additional plots include 14 in the Kalindipuram Housing Scheme, 5 each in Kasari-Masari Phase 1 and Phase 2, 30 in the Naini Housing Scheme, and 45 in…

Latest StoriesResidential

Vadodara Waives Property Tax Interest Until March 31

VADODARA: The Vadodara Municipal Corporation (VMC) has introduced a rebate scheme to waive interest charges on overdue property tax payments, available until March 31 of next year. The civic authority aims to encourage long-term defaulters to settle outstanding dues through this initiative, following previous efforts to recover pending payments. As part of the scheme, full interest waivers will be provided for properties assessed under the previous rent-based system that was active until 2003, which was replaced by an area-based assessment on April 1, 2003. Residential properties under the area-based system will receive an 80% interest rebate, while non-residential property owners…

Latest StoriesResidential

DDA Begins Phase Two of Jan Sadharan Awaas Yojana

Representative image NEW DELHI: The Delhi Development Authority (DDA) has commenced the second phase of the Jan Sadharan Awaas Yojana housing scheme, providing approximately 1,500 affordable flats in well-connected districts of the city, officials announced on Saturday. Launched on November 7, the scheme targets the low-income group and economically weaker sections (EWS), with flats located in key areas like Shivaji Marg, Ramgarh Colony, Rohini, and Narela. “All flats in Rohini, Ramgarh Colony, and Shivaji Marg were booked on the first day,” the DDA stated. In the first 24 hours, over 1,000 flats were reserved, highlighting continued public enthusiasm and trust…

Latest StoriesResidential

Probe Ordered into PMAY Housing Project’s CRZ Violations in Kharghar

NAVI MUMBAI: The Union Environment Ministry has instructed Maharashtra to investigate claims of violations of Coastal Regulation Zone (CRZ) guidelines concerning the multi-tower Pradhan Mantri Awas Yojana (PMAY) housing project in Kharghar. Environmental advocates raised concerns that the construction is too close to mangroves and the high-tide line. Environmental groups have expressed that the project, which is set to accommodate nearly 10,000 families and small businesses, was constructed in an area prone to tidal flooding. They argue that warnings about rising sea levels were disregarded during both planning and execution phases. B N Kumar, Director of NatConnect Foundation, stated that…