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

Kolkata: 1,000 Slum Dwellers Relocated to Banglar Bari

KOLKATA: Nearly 1,000 residents from 220 families in Jhoro Bustee, a slum near Golf Club Road, have relocated to the KMDA-developed ‘Banglar Bari’ on the same site. This project consists of five five-storey blocks, offering a total of 220 flats at a cost of Rs 13.4 crore, with each flat covering an area of 366 sq ft. According to KMDA officials, construction of a community center and kitchen is already in progress and is expected to be finalized within a few months. “The housing project was executed in two phases—180 units in the first phase and 40 in the second…

Latest StoriesResidential

Gurugram Zone III: Property Tax Camps from Nov 8 for Dues

GURUGRAM: The Municipal Corporation of Gurugram (MCG) announced plans to hold several property tax camps across Zone 3 colonies from November 8 to November 30. These camps aim to assist residents in settling dues, correcting information, and obtaining on-site self-certification. According to the schedule released by the civic body, the camps will be open daily from 10 AM to 3 PM. Residents are encouraged to bring their Aadhaar and PAN cards along with property ownership documents, preferably in digital format, to facilitate self-certification and verification. MCG Commissioner Pradeep Dahiya stated, “These special camps aim to quickly resolve property tax and…

Latest StoriesResidential

Thane Societies Accuse Rajshila Construction of FSI Misuse

MUMBAI: Five cooperative housing societies in Thane have filed a petition with the Bombay High Court, accusing the local builder, Rajshila Construction LLP, of unlawfully utilizing their floor space index (FSI) to construct new high-rise towers on land that is already developed and occupied. The petition, submitted by the Prestige Garden A-1, Prestige Garden A-2, Harmony, Ambience, and Prestige Garden B-1 & B-2 Cooperative Housing Societies, asserts that Rajshila Construction has misappropriated their property rights, while the Thane Municipal Corporation (TMC) improperly approved the developer’s plans for new projects. Rajshila Construction, founded in 2020 and registered under MahaRERA for a…

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Citizens Demand End to Pune’s Tax Defaulter Amnesty Scheme

PUNE: Various citizen groups are calling for the cancellation of the proposed amnesty scheme designed for property tax defaulters, arguing that earlier implementations have proven ineffective. The Pune Municipal Corporation (PMC) initiated this amnesty scheme for the 2020-2021 fiscal year, intending to offer tax defaulters discounts upon settling their dues. The scheme was later reintroduced for the 2021-2022 fiscal year. Vivek Velankar from Sajag Nagrik Manch, a citizens’ organization, stated, “The recurring launch of such schemes sends the wrong message to responsible taxpayers. Many who utilized the benefits ended up defaulting on taxes again, resulting in a revenue loss for…

Latest StoriesResidential

Delhi: Signature View Residents to Start Receiving Rent in July 2023

NEW DELHI: The Delhi Development Authority (DDA) has greenlit facilitation fees for residents of Signature View Apartments, who vacated their homes due to significant structural damage. The compensation will assist with rent payments, set at ₹50,000 monthly for High-Income Group (HIG) flats and ₹38,000 for Medium-Income Group (MIG) apartments starting July 1, 2023, or from their vacating date, whichever is later. The compensation amount will increase by 10% annually, with the first revision on July 1, 2024, followed by adjustments in July 2025 and July 2026. In 2024, residents will receive ₹55,000 (HIG) and ₹41,800 (MIG); in 2025, this will…

Latest StoriesResidential

Bengaluru East Orders 160+ Illegal PGs to Comply by Nov 5

BENGALURU: The Bengaluru East City Corporation has initiated a significant campaign against unauthorized paying guest (PG) accommodations, uncovering 165 unlicensed establishments through routine ward inspections. These inspections, carried out by health officials across all wards, revealed a considerable number of the 1,452 PGs operating within the corporation limits were functioning without the required trade licenses or safety compliance. The civic body issued a final public notice urging PG owners to obtain licenses within seven days to avoid legal repercussions, including penalties and potential sealing of their properties. The deadline is set for Wednesday. Violations include operating in residential zones without…

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No Authority: Registrars Can’t Issue NOCs for Redevelopment

PUNE: Maharashtra Cooperation Commissioner Deepak Taware has clarified that registrars and sub-registrars lack the authority to issue a ‘no objection certificate’ (NOC) to housing societies for property redevelopment. The commissioner emphasized that the general body of the cooperative housing society is the primary decision-making authority regarding redevelopment matters. Referring to a writ petition in the Bombay High Court, Taware highlighted that a 2019 government resolution defines the roles of registrars and cooperative societies as supervisory only. According to the Maharashtra Cooperative Societies Act, 1960, there are no provisions granting registrars the right to issue NOCs for redevelopment, underscoring that the…

Latest StoriesResidential

Amitabh Bachchan Sells 2 Luxury Mumbai Apartments for ₹12 Crore

Bollywood star Amitabh Bachchan has sold two adjacent luxury apartments, collectively spanning 3,640 sq ft, in a high-rise residential tower located in Goregaon, Mumbai, for a total price of ₹12 crore. Each apartment, measuring 1,820 sq ft, is situated on the 47th floor. The first sale was recorded on October 31 for ₹6 crore, with the second transaction occurring the following Saturday for an equal amount. A total stamp duty of ₹60 lakh applies to these transactions. The sales were conducted separately with different buyers, as indicated by documents obtained from the real estate data analytics platform CRE Matrix. Each…

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Dispute Resolution for Bengaluru Property Khata Clarity

BENGALURU: The long-anticipated scheme for issuing A Khatas to B Khata properties was officially launched on November 1, coinciding with Kannada Rajyotsava. The Deputy Chief Minister labeled it a gift to Bengaluru’s citizens. However, the rollout raises concerns for genuine property owners who have fought to protect their assets from land mafia and fraudulent developers. Many, including Union Minister for Steel HD Kumaraswamy, have criticized the state government for imposing a 5 percent fee based on the property’s SR value to issue A Khatas for B Khata properties, in addition to a nominal Rs 500 application fee. Kumaraswamy pointed out…

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Lucknow extends Atal Nagar housing scheme deadline

LUCKNOW: The Lucknow Development Authority has prolonged the registration deadline for the Atal Nagar Housing Scheme in Devpur Para until November 21. This initiative comprises 19 towers offering a total of 2,496 flats, which include 1-BHK and 2-BHK units aimed at low to middle-income families. In contrast, the registration for the Sardar Vallabhbhai Patel Housing Scheme in Dalibagh concluded on November 3, with no announcements regarding further extensions. The 72 flats in this housing project were constructed on land that was previously retrieved from Mukhtar Ansari’s illegal claim. LDA officials noted a remarkable response to this scheme. The Atal Nagar…