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

Karnataka’s Fee Hike Raises Inventory Concerns Amid Slow Sales

BENGALURU: Karnataka’s decision to increase the property registration fee to 2% of the transaction value is set to affect Bengaluru’s housing market, which is already struggling with affordability issues for buyers. The rise in transaction costs for home purchases is steep, with experts warning it may diminish buyers’ confidence in the market. “This change will strain homebuyers’ budgets,” noted Navin Dhanuka, director at ArisUnitern RE Solutions. He added that developers will likely need to adjust project financing to sustain demand, given that significant inventory is expected to enter the market in the coming quarters. Industry estimates suggest that Bengaluru’s housing…

Latest StoriesResidential

Panchkula: Just 24,000 of 100,000 pay property tax

PANCHKULA: Despite having over 100,000 registered property tax assessees, only around 24,000 property owners in Panchkula met the payment deadline for this financial year by July 31, according to official data. The Municipal Corporation anticipated collecting over ₹155 crore in property tax, yet only ₹6.62 crore has been collected so far. This indicates a significant disparity between the number of taxpayers and assessors, as well as between the projected revenue and actual collections. No rebates will be applicable after the July 31 deadline, and defaulters will incur interest on the unpaid principal amount. The Municipal Corporation is still attempting to…

Latest StoriesResidential

Supertech hands over 6,000 flats; 15,000 buyers still waiting

NEW DELHI: Supertech Ltd, a real estate firm facing insolvency issues, has handed over 6,121 apartments to its customers in the past three years across various housing projects, as stated by RK Arora, a former director of the distressed company. This delivery includes units across 16 ongoing projects managed by the previous leadership, under the oversight of a resolution professional appointed by the National Company Law Tribunal (NCLT). On March 25, 2022, the NCLT initiated the Corporate Insolvency Resolution Process (CIRP) for Supertech Ltd. The promoters subsequently appealed to the National Company Law Appellate Tribunal (NCLAT). In a ruling from…

Latest StoriesResidential

UP Minister: Noida Flat Registry Can Proceed After NOC

LUCKNOW: Uttar Pradesh Minister Ravindra Jaiswal has stated that delays in property registration in Noida and Greater Noida are due to disputes between builders and local development authorities regarding no-objection certificates (NOCs), clarifying that his department has no involvement in this stalemate. In an interview with PTI in Lucknow, the Minister of State (Independent Charge) for Stamp and Court Fee, Registration, explained that registrations for homebuyers are processed promptly once an NOC is provided by the Noida, Greater Noida, or Yamuna Expressway industrial development authorities. “In Gautam Buddh Nagar, three local development authorities are responsible for allocating land to builders…

Latest StoriesResidential

Access Road to Gurugram’s Sector 85 Closed; Buyers Protest

GURUGRAM: Residents of Orris Carnation, Aster Court, and Aster Court Premier in Sector 85 protested on Sunday against the closure of a 24-meter-wide access road to their township. They claim this road was promised as the main entryway when they purchased their homes. Chanting slogans and holding placards, the residents marched to Iris Broadway Mall, demanding the road’s immediate reopening. They indicated that the road was fully operational at the time of the flat sales, but it was blocked in October last year after possession was granted. Over 7,000 residents, including children and the elderly, are now compelled to use…

Latest StoriesResidential

Noida Homebuyers Protest Over Delayed Project Possession

NOIDA: Over 80 homebuyers from Lotus Arena in Sector 79 protested on Sunday due to the project’s incompletion and the delay in possession. The development spans 50,000 square meters on Plot No. SC-01/A2 and comprises 1,080 flats, of which 858 units have been sold, leaving 222 unsold. Launched in 2014 with an approved layout from the Noida Authority, project promoters reportedly mismanaged around Rs 387 crore of homebuyers’ funds. This mismanagement triggered the initiation of the Corporate Insolvency Resolution Process (CIRP) in 2020, leading to a resolution plan approved by the National Company Law Tribunal (NCLT) in 2023, which appointed…

Latest StoriesResidential

Ludhiana Civic Body Urges Timely Property Tax Payments

LUDHIANA: The municipal corporation is making a final push to collect outstanding property tax payments. Residents are invited to take advantage of a one-time settlement (OTS) policy that eliminates all penalties and interest. The deadline for this scheme is Sunday, August 31. To facilitate last-minute payments, the city’s citizen service centers, or suvidha kendras, will open on Saturday and Sunday. Mayor Inderjit Kaur stated that this initiative aims to assist residents and encouraged everyone to seize this opportunity to settle their dues. “This is a golden chance for residents to pay their outstanding property tax free of interest and penalties,”…

Latest StoriesResidential

Stamp Duty Rebate Now for Ex-Servicemen and PwDs: UP CM

LUCKNOW: Chief Minister Yogi Adityanath announced on Thursday that the recently introduced stamp duty concessions for women will also extend to ex-servicemen and persons with disabilities (PwDs). This announcement came during a review meeting of the stamp and registration department. Women, PwDs, and ex-servicemen will receive a 1% reduction in stamp duty, capped at Rs 1 lakh. The relief is applicable on property valued up to Rs 1 crore, with the rebate cap increased from Rs 10,000 to Rs 1 lakh. The Chief Minister further stated that, based on a pilot project conducted in five districts, e-payment will be mandatory…

Latest StoriesResidential

Property Prices Up in 45 of 50 Cities in Q1 FY26: NHB

NEW DELHI: According to the latest data from the National Housing Bank (NHB), 45 out of 50 cities experienced a rise in property prices during the first quarter of 2025-26. “Among the 50 cities monitored, five reported a decline in property prices year-on-year. Howrah saw the largest drop at 6.1%, followed by Kochi at 5.5% and Thiruvananthapuram at 4.8%,” stated the NHB RESIDEX residential housing price index released on Thursday. The 50-city Housing Price Index (HPI), which is based on property valuation from banks and housing finance firms, revealed an annual increase of 5.7% during this quarter, down from 6.6%…

Latest StoriesResidential

Bhubaneswar Residents Blame Builder for Safety Neglect and Occupation

BHUBANESWAR: Residents of a significant real estate project in Rasulgarh have made serious allegations against their builder, claiming unauthorized occupation of common areas for commercial use. The residents’ association has filed a grievance with the Chief Minister, the Housing and Urban Development Minister, and the Odisha Real Estate Regulatory Authority (ORERA), urging immediate intervention regarding ongoing issues. The grievance states, “The builder is illegally using our parking area for unauthorized construction and operating a commercial office in a purely residential complex, creating significant difficulties for the 52 flat owners who struggle to park their vehicles.” Additionally, concerns about safety were…