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

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…

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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.…

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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…

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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,…

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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,…

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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…

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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…

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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…